Posted by Tom PA on August 26, 2003 at 17:16:55:
You have to hit a price range that you are comfortable with. Remember that if you can’t get a buyer into the house then you are responsible for making those payments. Only deal with what you can stomach.
With that said, it is going to depend on your market. Are 200K-300K homes a common occurance? In other words, can you get rid of them quickly? I L/O’d a place north of Chicago for $2500/mo and purchase price of 360K within a week of running the ad. That’s because the area I was in didn’t have many things much cheaper.
Look at your market and make the call yourself.