I went on a ';how much home can I afford'; site and the calculation is I can afford between $175k - $200k. I have no down payment saved. The least expensive new home built in the area start at $225k.
The weekly newspaper do list a few homes being sold at $150k - $200k, but most houses being sold start at $300k.
What should I do? My FICO last checked was 720. Everyone says its a buyers' market, but is it my buying market?