Home searching continues

Just got back at looking at another home tonight after work.  This time it was a bank owned property in Lake Forest.  It was listed originally in the mid 500s, then lowered to 499k, and now its at 470k, but still seems overpriced looking at the price per square foot compared to similar properties in the area. Plus, I wasn’t all that impressed with the overall layout of the home and didn’t like the backyard which was very customized to the previous owner’s liking I’d say.  So, probably pass on it.  I actually liked a house I saw down the block that was smaller and cheaper over the weekend, so was contemplating making an offer on that one.

I also saw another house online that seemed to be a very good deal, and a decent size single family residence.  Only shows one picture of the outside in the listing.  It was a house that went into escrow way back in November, and for whatever reason they lost the buyer and its back on the market.  I tried to get in to see it, and the seller says he didn’t want to show the house.  What?  I guess he/she still wants to live in the house for free from the bank?  My agent said I should make an offer on the house, contingent on me seeing the inside.  It seems like a very good price and good sized house, so I did as he said.  If I like it and they accept the offer, great.  If I go in and its a piece of crap inside, then pull the offer.  In the mean time, I guess I will still look at other homes, in addition to contemplating putting an offer on that previously mentioned house.

I don’t know how many months now I’ve looked at homes.  I’ve probably seen 30+ now, maybe more.  Lost count a long time ago.  Ranged in places as far south as Laguna Niguel and as far north as Tustin.  I did try to make an offer on a nice looking house in Mission Viejo a couple weeks ago.  It was very nice looking inside, but the pool outside was all messed up, with torn lining, so the water was half full.  I liked that home, but I called multiple lenders and every single one of them said that they would not provide funding on the home unless the pool was fixed.  Seeing as how this was a short sale, the seller obviously had no money, so I wonder how they will end up selling that house.  Will they have to sell to an all cash buyer, or will the bank have to actually pony up some money and fix it?  I’ll keep an eye on that house just in case as well.

Sigh.  Too bad I didn’t have more money and thus look at more traditional home sales rather than short sales.  Oh well.  Part of the ongoing process of trying to find a place to live.