4 Resources to Find Affordable Homes

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In the past decade or so, the real estate market has been on a veritable roller coaster ride. If you’re frustrated by traversing the highs and lows of the market in your area, it may be time to take a step back and look at some new resources for finding an affordable home. This is especially true if your current agent seems to be coming up short in finding a home that fits both your budget and your needs. Even if you are just using a real estate website to find your perfect home, you aren’t being given the full picture. Not every house that is available in your area appears on those sites. So here are four extra resources you can check out to make your house hunt easier.

Fannie and Freddie—You have probably heard of Fannie Mae and Freddie Mac. Both have a program for homebuyers to purchase properties that have recently been foreclosed on. The biggest difference between the two is that Fannie Mae is only open to first time homebuyers while Freddie Mac’s program is open to anyone. Check out Fannie Mae’s HomePath Program (https://www.homepath.com/) and Freddie Mac’s HomeSteps Program (https://www.homesteps.com/) for more information.

Shot Sales and Foreclosure Resource—This is another great way to find homes that have been put on the market, often for less than the “going price.” In order to look at homes that are available as short sales, you have to find an SFR-certified realtor in your area. Check with the local real estate agents to find out if they have anyone with this distinction on their credentials.

Cash-for-Homes—You may have seen signs advertising cash for homes. There are companies out there such as HomeVestors that will list their homes for sale on the major real estate sites. However, if you call them up, you may find that they have some others that they haven’t posted yet or that are being sold directly by them.

For Sale By Owner—If you drive through any neighborhood, chances are you will find at least one or more houses listed as “For Sale by Owner.” However, you may not realize that there are websites dedicated to listing such properties. These FSBO sites can give you extra resources when all of your others have dried up. Who knows? Maybe your dream house is waiting on the Internet at one of these websites:


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