Real Estate and mortgages...

[Sylvia_n_Joseph 3]

A lot of listing put in the pre quals only to keep the lookie loos out. Most traffic in listed homes can't afford the home they are just dreaming. The 3 times gross income has been the standard for real estate loans for ages. It gives a reasonable cushion for other expenses. Starter homes usually aren't "decent" I live in southern California. Starter homes in a decent community are 1/2 mil and if you want to be near the ocean you are looking at over a mil.

[~Laura and Nick~ 5]

A lot of listing put in the pre quals only to keep the lookie loos out. Most traffic in listed homes can't afford the home they are just dreaming. The 3 times gross income has been the standard for real estate loans for ages. It gives a reasonable cushion for other expenses. Starter homes usually aren't "decent" I live in southern California. Starter homes in a decent community are 1/2 mil and if you want to be near the ocean you are looking at over a mil.

lol

Well, that's nice to know but no, we aren't buying a house that is 1 million dollars. No mansions for us, thanks anyway.

Nick and I are looking for a 2 bedroom starter with a nice backyard.

We have found some pretty nice homes for 300,000 and under. Even if it's a fixer upper, we don't mind.

[Sylvia_n_Joseph 3]

I am not talking mansions. Beach location in Oceanside Ca. which is a bit out of the LA crush so it is a bit cheaper. 2 min walk from beach 2 bedroom 1 bath 664 square foot home "as is" / possible tear down / may not be to code asking price 711K

[~Laura and Nick~ 5]

I am not talking mansions. Beach location in Oceanside Ca. which is a bit out of the LA crush so it is a bit cheaper. 2 min walk from beach 2 bedroom 1 bath 664 square foot home "as is" / possible tear down / may not be to code asking price 711K

lol

Not the area where I will be...I'm not in California.

I'll be in New Jersey, which is expensive but not THAT expensive.

Thanks though.

Edited April 9, 2008 by ~Laura and Nick~