Real Estate Pro Articles

Hurst Homes for Sale: The Perfect Option for First-Time Homebuyers

[Valid RSS feed]  Category Rss Feed -
By : Tim Nally    99 or more times read
Before the recession, real estate offered an easy solution for making money. If you had good credit, you could buy investment properties with no money down. From there, you could flip the properties for quick profit or rent them for long-term residual income. Such is not the case now, as most of the homes on the market have lost their value.

This is especially the case in Hurst, Texas, where the unemployment rate is over 3 percent. As a result, there are literally hundreds of under-priced Hurst homes for sales. A home that is worth $300,000 in another region could be acquired in Hurst for $150,000 or less, which opens up a perfect opportunity for first-time home buyers.

To understand why Hurst homes are so low, one must consider the desperation of the homeowners. For them, selling is the only way they can recoup the value of their homes. Even at a lower price, many homeowners can get $10K or more, which is still better than nothing. Besides, if the house goes into foreclosure it would sell at the same price with no money going back to the original homeowner. At least this way homeowners gain profit while protecting their credit score. Of course, this is assuming they can even sell. Sitting alongside foreclosures and HUD homes, there is no guarantee that low pricing will be enough to sell an individual’s house quickly.

This offers a bit of good news for first-time home buyers. Since the ball is in their court, they have more negotiating power when finding Hurst homes for sale. It just depends on what they want. In some cases they can get the homeowner to pay all closing costs; in other situations the homeowner might handle renovations out of their own pocket. There are even times when furniture and high-end electronics are thrown into the deal.

However, it is important to note that finding Hurst homes for sale is still a process even in a buyer’s market. In addition to finding the best home for your dollar, you must acquire financing in order to secure the purchase. In fact, a deal cannot be finalized unless a mortgage has already been approved. This in itself can be very challenging, but if you have good credit you should be able to find something with a decent interest rate. For those with bad credit, there is the option of getting a cosigner. If this is not possible, applicants may have to consider putting more money down or using a no-doc loan. Both options usually involve mortgages with higher interest rates, but depending on how cheap the house is, the sacrifice is usually worth it.
4 A Choice Real Estate
Hurst Homes for Sale
1245 Hurstview Dr #209
Hurst, TX 76053

Related Articles

Print This Article
Add To Favorites




© All rights reserved to Real Estate Pro Articles