Real estate prices in Texas crazy cheap?

[LevelUP]

My fairly confident guess is that a condo in Houston for $60k that seems okay visually is non-warrantable.

Why would you think this?

The pricing of a house is primarily based on its location and the condition of the home.

While it’s possible to get a discount if a house doesn’t qualify for a federal mortgage, I wouldn’t expect it to be as much as 50% off.

You can't necessarily rely on asking the seller. The seller might not reliably know whether or not the condo is non-warrantable. 

The listing agent should know this information. If they don’t, they can ask the condo association, which should have the answer.

Do you think that prices like in the example I showed are realistic for an ok place in a large city in Houston? Or can I expect to end up in a condo with a hidden mold problem, and all of my neighbors are cartel members or something like this? Because it is hard for me to believe that one could get a small but livable place for just $60,000 in a thriving US metropolis with salaries of $3,000-$5,000 per month.

I used to be a licensed real estate agent, so I know quite a bit about how the housing market works. As for mold problems, first of all, mold issues are often overrated, and second, you can hire a property inspector to evaluate the property before closing the sale.

If you could have bought during the housing crash of 2008–2012, you might have gotten a ready-to-move-in, 3-bedroom, 1,000 sq. ft. house for as little as $20,000. I even saw a studio condo sell for as little as $8,000.

Today, you can still find some great condo deals in the Midwest, particularly in the suburbs of major cities, for under $100,000.

A condo fee can cover various expenses, such as:

• Utilities: Water, sewer, and trash collection.
  
• Repairs and Updates: Roof, siding, driveway, and other shared infrastructure.
  
• Maintenance: Lawn care, landscaping, and snow removal.
  
• Insurance: Coverage for storms, fire, and other disasters (typically for the exterior and common areas).
  
• Amenities: Features like a pool, gym, or community room.
  
  

The fees you pay often approximate what you'd spend on these services for a standalone house. As a condo owner, your primary responsibility is maintaining the interior of your unit, such as flooring, light fixtures, and plumbing. This makes it significantly easier to maintain your home.

The trade-offs of buying a condo versus a house include:

1. Limited parking options.
   
2. Rules and restrictions set by the HOA.
   
3. No backyard or a very limited one.
   
4. Less privacy and the potential for more noise.
   

Realtor.com  is a great place to search for homes.  Filter by property type and sort by price.
https://www.realtor.com/realestateandhom...ondo/sby-1