Home Buying in Mount Vernon>Question Details

mn2009, Home Buyer in Mount Vernon, NY

I plan to purchase my first home in September. When should I begin to look at properties? Thank you!

Asked by mn2009, Mount Vernon, NY Sun Jun 7, 2009

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Assuming you want to occupy your house in September, I would start looking in May/June. Depending on the area, you may be writing 3+ offers, close of escrow may be 30-60 days, and the more you look, the better you will know the market.
0 votes Thank Flag Link Sat Jan 22, 2011
Hello MN2009
I think it’s great that you are beginning your home search by exploring available websites like Trulia. Second asking questions like the one you posted here tells me you’re off to a good start. Keep asking questions and find your self an experienced honest Realtor who can simplify the process for you.
You say you plan on buying your first home in September so you have set clear plans for yourself as well. Let me just tell you that buying a home is a process and can sometimes take longer than expected to find and then complete the purchase process.
In response to your question, I would tell you to find a good Realtor as soon as possible. September is only two months away and that is not a lot of time in home buying terms. You can find a good Realtor by exploring local websites and/or asking friends and colleagues for referrals.
Good luck in your home buying search!

Best Regards

Teresa Cannady
Associate Broker
CBC Realty Services
0 votes Thank Flag Link Sat Jul 4, 2009
Hi mn2009, everything takes time, and finding the right real estate agent to represent you also takes time...you should definitely begin your search now but first decide exactly what you can afford. If you are going to obtain a mortgage, it's important to have a pre-approval letter on hand. You may find the right home immediately so having the right tools is a necessity. Good luck with your home search and I wish you much success.
0 votes Thank Flag Link Wed Jun 24, 2009
Hi Mn2009, Your search should have started some time ago. Closings take 2-4 months depending on the situation. Most buyers start their search on the internet and then call an agent to show them the properties they located. Happy searching. Terry K 718-614-3167 cell
0 votes Thank Flag Link Thu Jun 18, 2009
You really should begin your search now; your first step, however, should be if you haven't already is visit a qualified loan officer and figure out a budget. Good luck with your search.

Anna
917-576-5376
abrocco@laffey.com
0 votes Thank Flag Link Mon Jun 8, 2009
The name of the game is affordability. Right now the rates are slowly creeping upwards. In two weeks the rates have jumped .5 points. If you are already working with a bank lock the rates in now. This will prevent you from paying a higher rate as they increase.

The summer is the best time to look if you are buying in September. The market slows down and you are in a better negotiating position. However if you need to close by September then you need to look now because it will take 60-90 from the point of you looking to the point of someone handing you keys.

Plus you want to get settled if you have children etc. If you would like an overview of the full buying process from beginning til end...AskRey.


Rey Hollingsworth Falu
Licensed Associate Real Estate Broker
Houlihan Lawrence - Bronxville
4 Valley Rd
Bronxville, NY 10708

Direct 917-855-0277
rhollingsworth@houlihanlawrence.com
Web Reference: http://AskRey.net
0 votes Thank Flag Link Mon Jun 8, 2009
Hi, I recommend finding a Buyers Agent that can assist you with your purchase. When I first meet a prospective client I like to have a buyer counseling session and there we do a needs asessment to help formulate a plan. I find that once a plan is formulated the buyer tends to have more confidence and the process is more enjoyable and smoother. I also recommend getting yourself preapproved for a mortgage in the beginning, to get a good handle on your financial snapshot. This way you know what properties to look at, again it's all part of the initial plan. Once your plan is in place it narrows down the list of homes, which makes for less overwhelming feelings.

In NY State the average transaction closes between 60-90 days so depending on when you want to close and be in the home factor that in. There is alot of inventory at the moment and incentives. The First Time Home Buyer Tax Credit which is equal to 10% of the purchase price, not to exceed $8,000 and does expire Dec1, 2009. Rates are around 5.25% and may go up in the fall.

Having an agent on your team will most likely make for a pleasurable experience and doesn't ususally cost you anything. I hope this has helped you

Sincerely,

Christopher Pagli
Associate Broker
Legends Realty Group
914.406.9023
0 votes Thank Flag Link Mon Jun 8, 2009
mn,

Since a thorough buying process can take several months our recommendation is to begin now....begin by reviewing your personal budget before meeting with several loan specialists to get pre-approved for financing.

Once this is taken care of you will be ready to identify your price range and begin your preliminary search. We recommend spending some time establishing your search critera before you begin your search. Be sure to consider factors such as school district, resale value potential, proximity to conveniences, etc.

Remember to take advantage of the first time home buyer incentive the transaction needs to be closed prior to December 1, 2009.

Good luck
0 votes Thank Flag Link Sun Jun 7, 2009
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