Profile picture for sparky240volt

The prices?

I guess I am not really understanding how you are doing the prices.  I looked at one house for $2,300 at $230 down and $132 a month (for 15 yr) and it is just too nice of a home for that money and I don't know if I am just too tired to undertand it?  Could you please explain further to me how this works.  I am going to be transfering to Orlando and I am going to need a home somehow.  We do not have good credit right now due to a failed restaurant business which we threw everything we had into it and now we have had to file bankruptcy and also our home is going into foreclosure (our payment was $2500 per month) just too much for us in this small town with very little work. 
  • January 24 2011 - Orlando
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Answers (6)

Best Answer

Profile picture for sunnyview
Not all houses on Zillow are for sale. Most of the time, if the price is too low it is a mis-listed rental. Sometimes reading the description will tell you that since they often post available dates or deposit info. In general, if the price is too good to be true, it is.
  • January 24 2011
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Profile picture for Sharon Lewis
Hi there, sorry to hear about your troubles. You are going to have to rent unless you have a bag full of cash to purchase, right?
Contact a local Realtor in Orlando and get them to start sending you listings. Save up enough money for first, last, security and then some.
Again, sorry to hear about how tough its all been for you...
  • February 03 2011
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Unfortunately with all these amazing sites we have access to some information does get incorrectly added.  The best way to figure out how you may be able to afford a property or find one that is a great deal is to use  Realtor, especially a local expert, we can help you find a home, check to see if it is up to date and accurate and also explore possible finance options.  Best of luck with your search!  We look forward to having you in Sunny Orlando!
  • February 03 2011
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Profile picture for sunnyview
Thank you for the best answer! I really appreciate it. You made my icky Monday better.
  • January 24 2011
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One would have to see the actual ad and investigate to know exactly what the story is with this property, but some likely scenerios would be that this is an auction property and this is the starting bid, it is in fact mislabeled, or it is a short sale and an agent threw out an exteremely low price to gin up some activity to present to the bank in an effort to find the bank's lowest price on the property. There are some properties out there priced that low but I doubt most would be habitable.

  • January 24 2011
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Despite not knowing which property you are looking at, I am going to take my best guess.  Quite likely ZILLOW is assuming the $2300 per month is the actual SALES PRICE and not a monthly rental price. 

Somehow it is likely saying that you can put $230 as a down payment and pay $132 per month for 15 years (180 payments) possibly because this would include taxes and insurance as well as the interest to pay off the principal.


If there is anything I can do to help in your relocation, let me know.
  • January 24 2011
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