Comments on: A Diamond in the Rough, part I http://www.careerramblings.com/2006/12/12/a-diamond-in-the-rough-part-i/ Your Professional Development Wed, 08 Oct 2008 10:39:40 +0000 http://wordpress.org/?v=2.6.2 By: BuySmallHouse http://www.careerramblings.com/2006/12/12/a-diamond-in-the-rough-part-i/#comment-4430 BuySmallHouse Wed, 29 Aug 2007 16:52:49 +0000 http://www.richdadsays.com/2006/12/12/a-diamond-in-the-rough-part-i/#comment-4430 I think one major problem is that people overpay for houses with problems because they don't know what defects to look for. This drives the prices up for everyone. Many first time home buyers also have no idea they can offer less than the asking price. I didn't know that when I bought my first home. Many of the houses I have looked at are priced well over the foreclosures on the market, yet the only difference between the homes is one has a fresh coat of paint and new carpet. There is still rotted siding under the paint, the roofs will soon need repair and they all have cabinet rot. I think one major problem is that people overpay for houses with problems because they don’t know what defects to look for. This drives the prices up for everyone. Many first time home buyers also have no idea they can offer less than the asking price. I didn’t know that when I bought my first home.

Many of the houses I have looked at are priced well over the foreclosures on the market, yet the only difference between the homes is one has a fresh coat of paint and new carpet. There is still rotted siding under the paint, the roofs will soon need repair and they all have cabinet rot.

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