Is Now A Good Time To Buy A House? | Rock-n-Roll Real Estate Agent

Q: I?m a first timebuyer?.what is the first thing to look for after I see the house I want to buy?
?Anonymous, New Jersey

A: This is the right time to buy a house ? Step 1 ? go to a lender and have them tell you exactly the amount of home you can afford. Step 2 ? find a Realtor Step 3 ? tell the Realtor what you need in a home and what the lender says your price range is?.

The agent will handle writing a contract for the house that you find and if they are a good agent ? they will explain the process to you as you go.

Sincerely
Leah
Leah Layman is a Realtor? with Keller Williams Realty Augusta Partners in Augusta, GA.

A: Of course it?s a great time to be buying; many of my buyers are finding fantastic properties for less than what they?re paying for rent at this time. The first thing you need to do is to find a trustworthy lender representative in your area who can explain the various loan options availalbe at what interest rate before writing an offer, the type of financing you decide upon is written into a paragraph in the agreement of sale under Mortgage Contingency, and savy sellers will require that you are pre-approved before signing your offer. If multiple offers come to a seller at the same price, the strength of your financial commitment, and the type of loan, may be a factor in their decision to accept yours.
Janice Caputo is a Realtor? with Coldwell Banker Real Estate Services in Pittsburgh, PA.

A: The first thing if you haven?t done it already is getting pre-approved. If you know what you want to offer, your lender can write the pre-approval in that amount. Once you get your offer accepted, you should do a home inspection/engineering. Are you working with a Realtor? They can provide a reputable lender as well as a home inspector and attorney that you will need. Let us know if you need help finding a great agent as we know many in NJ! Good luck!
Noreen Parrell is a Realtor? with Better Homes and Gardens Rand Realty in Briarcliff, NY.

A: Once you have been preaproved for a loan (assuming this is not a cash purchase), the very first thing is to have your agent write the offer on the property you want and request a preapproval letter from your Lender. Negotiations between you and the seller will begin at this point, but your agent will work on your behalf. If you don?t have an agent yet, talk to family members or friends that have recently purchased or sold a home for recommendations.
Maria Jeantet is a Realtor? with Coldwell Banker C & C Properties in Redding, CA

A: Now is absolutely a great time to buy, but first things first.

Finding a mortgage and getting pre-approved BEFORE starting the home shopping process is the only intelligent way to go in my opinion. Buyers and their agents that choose not to do so are like shoppers that head to the mall without their wallets. It might be an interesting experience, but it won?t be very productive.

The first step in purchasing real estate and one that should be required by all real estate agents before showing property to prospects is to get their buyer pre-approved for a mortgage. Getting a mortgage, or rather getting pre-approved for a mortgage, lets a buyer and his agent know what he can to afford when looking for a home. It is critically important for a potential buyer to go through the pre-qualification steps and learn exactly what is required to secure a mortgage.

Buyers have many options to choose from when looking for a mortgage. There are banks, mortgage brokers, finance companies, credit unions and private lenders. Often experienced Realtors have in-house mortgage brokers or direct lenders that they work with frequently. Talk to your Realtor and look for a lender that has high standards, a good reputation and a verifiable track record. Don?t be afraid to shop around for the best deal either as mortgage costs can vary greatly.

When looking for a mortgage have a good idea how much you can afford to pay each month. Look into the past, present and future to determine this. It is of the utmost importance not to bite off more than you can chew when it comes to your finances and the affordability of a home that you are considering purchasing.

When applying for a loan an individual (or married couple) must provide documentation of income, expenses, and assets. Have your financial statements and tax returns ready and the process will be much easier. Having a lender ready to go before finding a property will make the entire process smoother. Financing is harder to get these days and being prepared is always a wise first step in the home buying process.
Lee Dworshak is a Realtor? with Keller Williams LA Harbor Realty in Rancho Palos Verdes, CA.

A: I?m not sure I understand exactly what you are asking. If you are a first time homebuyer, the first thing to do is get your finances in order and check with your lender to see if there is a local First Time Homebuyer program that may help with closing costs or down payment. Once that is done hire an experienced Realtor in your chosen area so you will have representation. The homeowner is usually the one who pays the commissions, so it is unthinkable not to have someone on your side. They will show you homes that you want to see and get all the paperwork and details of the sale handled. The next step is to hire an inspector to check the house out for any problems and a insect company to check out for pests. After that, the Realtor handles all the Q & A?s, deadlines and paperwork and you sit back and wait for closing. The most important thing about buying a house, is having a good representative that knows the area and make sure all your questions and concerns are answered. And have fun!
LeKaren Lockridge is a Realtor? with Trend Setter Realty in Houston, TX.

A: YOUR local mortgage broker who can pre-approve you upfront for the purchase so that there are NO SURPRISES going forward?. THEN if you are able to purchase ? get your agent to write a contract/Offer to Purchase?.
David Congdon is a Realtor? with Islands International Realty in Satellite Beach, FL.

A: Housing prices are at an all time low and it is a good time to purchase a home. Once you find a home you will want to have an inspection from a qualified licensed home inspector to make sure you know the true condition of the home and see if there are any repairs needed.
Brenda Cunningham is a Realtor? in Mesa, AZ.

A: 1) Make sure the home you like is for sale
2) find a GREAT real estate professional, ask your friends for referrals
3) Get preapproved by a lender that the real estate professional can recommend
4) Make a qualified offer for the home

and hopefully you get it!!
Mike Wolf is a Realtor? with Ascent Real Estate in San Diego, CA.

A: After you find the home you want to purchase, the next few things you look for include a competitive mortgage that will solidify your investment for the next 15-30 years especially at today?s spectacular rates. In tandem with that search providing you have an offer in on the property and it has been accepted, get all your inspections done. Cosmetically the home may be appealing, however their may be some undiscovered issues that only professional inspectors may find. Good luck on your purchase.
Kevin Kieffer is a Realtor? with Keller Williams Realty in Danville, CA.

A: If you have been planning to buy a house (By planning I mean: saving your money for a downpayment and the associated charges, preening your credit (rating) and talking with a mortgage professional so you are ready to buy?) If you have been doing all of that and the house is in your price range, then look for a Real Estate Professional. They will advise you on the next steps and protect your interests in the transaction.

If you just happened to come across a house that you ?must have?, but you haven?t done any of the ?planning to buy? stuff mentioned above: Take a serious look at your financial situation, make sure there are no errors on your (3) credit reports, talk to a mortgage professional, and look for a Real Estate Professional that you would be comfortable working with. They can guide you the rest of the way.

I hope you can afford the house you want and that the house you want is worth having. Good luck! El

El Brant, REALTOR?, Wilmington, NC
El Brant is a Realtor? with Wilkinson & Associates Real Estate in Wilmington, NC.

A: Look for a good Realtor!
George in Tucson
George Szkup is a?Realtor???in Tucson, AZ.

A: Look for an experienced and professional Realtor to guide you in the home buying process. Interview a few of them before choosing and pick the best one. This professional should guide and educate you on the buying process with your best interests at heart.

Adam ~ Reliantra
Adam Aguilar is a Realtor? with Reliantra in West Toluca Lake, CA.

A: NOW is an excellent time to buy a house.

I would suggest you get pre-approved for a mortgage BEFORE you start looking at houses. There are many benefits to you in doing that:

1. You will know the maximum price house you can qualify for before you start looking.
2. In case you have any glitches that would prevent you from qualifying for a mortgage at this time you will know and be able to work towards getting it fixed.
3. With a pre-approval letter in hand you can make a much more aggressive offer on a property (read: lower) because you can assure the seller that you have already arranged for a mortgage which will make your offer look better to them.

Mortgage interest rates are lower today than they have been at any time during my 32 year real estate career. NOW, today, is an excellent time to buy a new home.

Good luck on your home search and purchase.
Jim Lee is a Realtor? with Re/Max Coast to Coast Properties in Portsmouth, NH.

A: I would suggest looking financing with terms that work best for you. Interview at least three mortgage brokers or banks, and then do the same to find the right realtor to represent you. Also, be sure to have a home inspection. The expense is well worth it, even if the home is only a few years old. Best of luck to you.
Anne Elizabeth Oliver is a Realtor? with Roy Wheeler Realty Company in Charlottesville, VA.

A: Location, location, location
Maria Picardi-Kenyon is a Realtor? with Re/Max Tri County Realtors in Hamilton, NJ

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