Sure, there has been this huge trend for people wanting fixer uppers, but seldom do you see retail buyers buying them.
Even if the house is $100,000 below market in a super popular first time home buyers neighborhood, the house itself will not qualify for a FHA or VA loan due to the amount of repairs it needs. I can usually predict which houses will fall through. Most of the time it is when the inspection report comes back and the buyer freaks out because there were more repairs than what the buyer expected.
Below is an excerpt from my series – “Easy Rehabs”