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Updated about 11 years ago,

User Stats

452
Posts
10
Votes
Michael Dunn
  • Olive Branch, MS
10
Votes |
452
Posts

Assumption of an average listing price at %20 Below

Michael Dunn
  • Olive Branch, MS
Posted

ARV on properties on the Hud , Homesteps, HomePath, Bank of America & Wells Fargo websites. I hope I'm atleast some what close on my figuring ( as just a basis ) for narrowing down my searches ( Max Prices ) of Properties taht are listed on these following sites.... Hud , Homesteps, HomePath, Bank of America & Wells Fargo websites . So I keep myself from getting to excited on a property I see listed on one of these sites, I just assume that all of them are listed at a 20% below ARV . With that, for Example.... with my DTI , I can afford say, a $450 a month ( PITI included ) note a month. So.... If I only look at properties listed within the price rages of $56,000 - $90,000 , would it be safe to say, that their ARV are around $70,000 - $110,000 , and with that, and me applying the 70% rule to those numbers ($70,000 - $110,000 ), and not accounting for any rehab/repairs , that I would pay $50,000 - $77,000 for a property that I am looking at, at the listed prices of $56,000 - $90,000 on these websites ? Thank you BP community for your help with this. I hope it's not to confusing on what I'm trying to ask. I guess you could say, taht it basically boils down to me wanting to know, that if I keep my searches at properties listed at $56,000 - $90,000 , that given my DTI , I could afford pretty much any house listed in this price range . Thanks - Michael

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