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Buyers Market, finally bought a house..


Batman

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After renting for 15 years, and 8 years in the same rented house I bought a house!!! It took about 4 months and 5 offers on 5 different forclosed houses. Every house I put an offer in on needed alot of work, and the first 4 were about 10-12 yrs old. All were nice big houses, and being bank owned the price was right for what I could afford. But the first 4 houses all ignored my offers, I don't know if banks are being over run with property or they just like ignoring offers on property they dont really want to own.. (really ticked me off, every offer we had)

 

We finally found a house that Fanny Mae bought from a bank, Fanny Mae was very easy to work with and after 3 counter offers we agreed on a price and 28 days later we moved in!! The house is incredible, its a 3 year old two story four bedroom full basement nice corner lot and I got it for about $28,000 less that it was built for 3 years ago!!! We didnt have to pay a penny at closing, through FHA Fanny Mae paid everything and I got what was left over at closing (around $2,000).. Talk about a sweet deal!!

 

I'll post pics later when I get them off the camera..

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Always good to see your monthly payment come back as an investment instead of circling the bowl like when you rent. I bought my house 3 years ago for $27,900 and am listing it next month for $110,000 and will end up with 95-100k. Realestate is the best and safest investment because over time it always ends up worth more than you paid for it(unless it slides off into the ocean like in California lol)

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Grats Batty, my wife and I bought our first house almost 11 months ago, and absolutely love it. Sure, there are always things that need to be done, or that you want to do to it, but it's yours, not someone else's. That makes a huge difference in the mindset of the projects.

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Realestate is the best and safest investment because over time it always ends up worth more than you paid for it(unless it slides off into the ocean like in California lol)

 

This is true in the midwest. Both coasts deal with major price fluctuations.

 

 

Congratz on the house Batty. That must be very exciting!

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