It's definitely a long process to purchase or to sell a home, and it's never too early to feel the market out with your preferences. It's a buyer's market and there are a lot of deals to be made. I have a home for sale in Rosedale and would love for you to start your research by coming by for a visit. We would be happy to share what we know from our research. Here's the link to our home: http://www.realtor.com/realestateandhomes-detail/6221-Common…

Look forward to seeing you!

Michelle

You have already received some very good answers and valid points to your question but I want to add something. If you already have an agent to work with have them set you up for an automated serach for homes in your price range, areas you may want to consider, and other criteria, such as how many bedrooms, baths, etc..... Since you have time, this is a great way to see what's out there in the different areas, and what you get for your money. This may help you eliminate some areas of consideration. If you don't already have a Realtor, I would be happy to set that up for you if you would like. You may email me at kathydawson@championrealty.com or call 410-507-8970 if you prefer. Just give me the info, and I'll set it up for you!

The normal time for settlement could be anywhere from 45-60 days depending on the seller's situation.It also depends on when you think you will have your money saved for your downpayment. If you are going FHA you could get a gift from a relative for the downpayment.Keep in mind also, if you are a 1st time buyer or have not owned a home in 3 years, you could qualify for the $8,000 tax stimulus credit. The deadline is that you must settle by Dec.1 this year and best yet you do not have to pay it back!Banks are taking longer now for approvals because of their changes in guidelines.If you are buying a property that is a short sale and the seller has to get third party approval from a bank it could probably take anywhere from 3-6 months depending on the bank. Since it is almost August, you are almost there so I would indeed start looking at homes shortly.Good Luck House Hunting!Donna

It is never too early to start looking as long as you have a good perspective on the fact that the homes you see on the market now may or may not be on the market when you are actually ready to purchase.

Keep in mind that for now the end date for the $8,000 tax credit for first time buyers ends as of November 30, 2009. We as Realtors are working to try to influence legislators to get it extended but who knows what will happen. In addition, there is available the Federal Home Loan Bank grant in the amount of $10,000 (forgivable 20% per year each year for 5 years) provided you stay in the home to help with funds necessary to get in a home until they run out of funds to consider as well as other programs geared toward helping first time buyers realize their dream of homeownership. Live Baltimore offers a $3,000 grant to one of the first 50 people to settle on a home after their East Side Trolley tours in September so that is another way of getting additional funds.

In addition, it is a good time to start deciding on what areas you will consider when searching for your home. Speaking with a good buyers Agent would be the best place to start. They will be able to speak with you about your life style, what kinds of things you are looking for in your neighborhood, what style of home you are hoping for, what your wants, needs are in the home, etc. In addition they will go over all of the necessary legal disclosures and just how the process works so that it can be a fun experience, not a stressful one. In addition, they will have the necessary information about what lenders cooperate with what programs, where their processing is done and all of the other necessary details that go into getting you successfully to settlement. Normally in Maryland a settlement can happen within 30 to 45 days once you have found the right home so that should help you to plan your timing as well.

I hope this helps. Deciding on the right Realtor for you is about more than just about the mechanics. It is someone that you will spend a good amount of time with so you should feel that you can trust them, feel that they listen to you, and feel comfortable with them. I would be happy to meet with you in person if you would like. Feel free to contact me via cell by text or phone call.

Warmest regards,

Susan Myszkowski, Realtor
Yerman, Witman, Gaines & Conklin Realty
443-831-5669