House: some progress

I've continued looking for a home. I think I have decided to move to Durham since the universities there are more promising, but I can't say yet, since no university has accepted me so far (no rejections either).

I've started to contact people. I called up the North Carolina Home Finance Agency to see if they count stipend income as income, and they do. It was quite entertaining to hear a southern accent.

One positive note is that Durham has a good area for investment. There is a section of town which is plagued by low ownership rates and general crime and disrepair, which means the houses there are cheap (half cost less than $50,000, with a good selection under $30,000). This area is currently undergoing a multi-million dollar revitalization program, so the value of houses should increase in the area (see www.durhamhopevi.com for details about this project). So it could prove to be a wise investment to buy in that area.

But I've been thinking... Maybe I should start doing some dealing in real estate marketing. I wouldn't become a real estate agent, but rather someone who assists sellers in the For Sale By Owner process. I really think that the internet has not been used to the level that it could be. The online house descriptions are simply bad. There are even some properties listed with no pictures at all. I think I'd start by targetting one small area (for example, the Triangle area if I move there). I would basically sell a package to the seller. I would take photos of the house, take measurements, collect data on other houses in the neighborhood (when they were sold, how much), maybe order an inspection (at the seller's expense, but then if the seller could offer the inspection results to the buyer (through me so that it would be more objective), that would save the buyer a lot and would encourage offers), and of course promotion and a profession broucure and website. I think if I concentrated my efforts in one town at first, then it would have a chance of suceeding.