WorthQuiet, older neighborhood with lots of rentalsAsking price $48K, was marketed as a triplexI offered $30K cashDOM 7They countered $40K cash and a short closing date(10 days)I was able to do my own inspectionsDiscovered 4 kitchens and 4 bathrooms.Needs trees trimmed, roof, minor interior repairs and cleanup.Should be worth $80K-$100K when finishedI uncovered a city lien against property for grass cutting(they had to pay for)During title work a federal lien was uncovered(they had to pay for)We closed on the last possible day at 4:00pmObservations:I used a buyers agent to represent myself.

Vinyl Commercial Tile will last well over 20 years.You can easily upgrade light fixtures to something with a little style; personally I prefer to install ceiling fan/light combos in bedrooms and livingrooms.

You see, most sellers whole-heartedly feel like they pay the commission because after all, it is deducted from their net proceeds.As far as this:So if there is no agent you can buy the house for $94,000, and if there is an agent you can buy the house for $100,000.You couldn't be more wrong.Do you really believe that a person of sound mind and know-how would sell for 94K when every other home in the neighborhood is selling for 100K.

Granted this is just my opinion, but it is based on 28 years of experience (including the '80s collapse of the TX market) and some careful looking.I've noticed more For Sale signs in Austin and San Antonio lately, including too many on NEWER houses in NEWER neighborhoods.

Pick a house that will work for you (location, style, etc).

Every house is ina safe neighborhood with well screened tenants who pay ontime.

I helped push for and eventually pass an overlay that requires historic board approval of exterior changes in order to preserve these prominent homes in our west side neighborhood.

Is it safe to focus buying in my own neighborhood or should it be diversified?

These neighborhoods are typically more active for wholesaling/rehabbing than the upper middle class suberbia.

Denver Area Real Estate MapHave patience, their web site is not the fastest.The summary is that low priced neighborhoods, prices under $250,000, have seen declines in values and have been hard hit by foreclosures.