Home Buying in Plaistow>Question Details

Eric, Home Buyer in Plaistow, NH

Should we wait until back from vacation to start the homebuying process?

Asked by Eric, Plaistow, NH Thu May 28, 2009

We are going on vacation at the end of this month. I fear that if we start the homebuying process now, our vacation could potentially interfere. Should we wait until we get back to start anything? Rates are slowly creeping back up. I hate waiting.

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15
Good Afternoon First Timers,

It seems like you started a great debate... My recomendation is to start some of the process. You should definately get pre-quailified now. If you do not have a mortgage broker i do have some great people i can reccomend. Once you are pre-quailified and know what you can afford you should begin working with a buyer broker who will look out for your best interests. A buyer broker usually has no cost to you as they get paid from the listing broker at closing. If you need a buyer broker i would love to assist you. Once you have a buyer broker you should then get a list of teh houses that meet your criteria and price range, drive by them, check out the neighborhoods and determine which ones you want to get into. From there It is up to you whether you want to go inside or wait until you get back. I say go and look. If you happen to find the house you love you can work the dates for inspections around your vacation, if you dont find anything it will help you and the broker assist you in finding what you do and do not like, Good luck with your search and have a great vacatation. please feel free to email me if you would like some help. sctprop@aol.com

Scott Godzyk
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Fri May 29, 2009
That was great Dune but honestly I have never seen that. I was not "trained" or "brainwashed" into saying anything. I took my real estate test, got my license and have been in it everyday. I get my information from experience. This past winter when I had my up-time at the office, I would read my book. Sometimes the phone wouldn't ring once. I haven't even picked up my book in about 2 months because the phone has been ringing off the hook. I'm not really sure what we are even arguing about here. Oh, by the way, yes I CAN read and believe anything that I want! What I was referring to was don't believe everything that you read! I'm not going to indulge you in this conversation anymore! Thank you.
0 votes Thank Flag Link Fri May 29, 2009
Dunes,

The talking points docs are so cool. I just knew there where just way to many realtors saying the exact same thing.

Excellent inside job work.

What an incredible scam real estate is and has been. It is so completely methodical as in psychological warfare.

I always wondered where agents got the conviction that they as agents knew something I did not about the markets. This talking points document clears it right up. Agents are convinced by repetitive conditioning that they as agents have incredible and secret powers that are bestowed upon them by the NAR. I wonder if the ceremony is anything like the one " in eyes wide shut". Note the us vs. them dichotomy to invoke a sense of superiority within the unsuspecting agent. The NAR can take an inocent little school girl and transform her into a carnivorous predator.
0 votes Thank Flag Link Thu May 28, 2009
Gee Jennifer, " Well Goat, since your not a Realtor you can read and believe whatever you want. "

Does that mean if you're a Realtor you can't read and believe whatever you want? I knew NAR had a lot of " repeat the company line people " but no freedom of thought!

First
Timers, Do some reading and thinking would be my advice, it will help you tell the difference between expertise and "Best time to buy" NAR talking points.

Like these.... http://www.realtor.org/wps/wcm/connect/cba8180049a0e5f88a8ef…

Dunes
0 votes Thank Flag Link Thu May 28, 2009
Well Goat, since your not a Realtor you can read and believe whatever you want. I am a Realtor and in the middle of it everyday. I have not seen even one investor drop a property that they have purchased in the last few years. If they did, they wouldn't be very good investors because they would be loosing money. Instead I have seen many investors scoop up multi-families and foreclosed properties to renovate and rent because it is hard to get financed in this market and there is an ample amount of renters looking to rent! If you have good credit or cash this is the perfect market to buy in for an investor!
0 votes Thank Flag Link Thu May 28, 2009
Realtors have been saying the same thing over and over and it just does not seem to be working according to the lastest numbers. There are no signs that a bottom has been found whatsoever. Read:

http://www.bloomberg.com/apps/news?pid=20601103&sid=aE_j…

May 28 (Bloomberg) -- Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March this week as the government’s effort to fix the housing slump lost momentum.

Realtors have no credible evidence to back any claims of recovery...nada. Do you see realtors buying homes? Nope. They are trying to dump the ones they bought in 2006 as "investments" . OOPS!

Funny how every month the bottom is in isn't it?
0 votes Thank Flag Link Thu May 28, 2009
I also don't think that prices will fall much further--if at all.
I am of the opinion that we have achieved the bottom of the market, although maybe not in Iowa.
The NAR indicates that the USA market grew 3% nationally in April, and 18% in Florida. So you see real estate is local--not national. Anyway, take your advice from professionals. Find a Realtor you like and then find the house of your dreams.

Dane Hahn
0 votes Thank Flag Link Thu May 28, 2009
I do not agree that housing prices are going to drop for two more years! There has been many reports that the market is stableizing and home prices were even up in the month of April. If you want and are able to buy a house now, I highly suggest to do so. :)
0 votes Thank Flag Link Thu May 28, 2009
Wait till next year. Prices will continue to drop for at least two more years.
0 votes Thank Flag Link Thu May 28, 2009
Hey 1st Timer,

Your honest anxiety over when to start the home buying process is commendable. Especially when you consider you will be making a 30 year commitment to a bank and spending more money than you have likely ever spent before. This is such a big event in most folks lives that some even CANCEL their vacation--can you imagine?

But if you feel that a good time to start your search is after you return from vacation, then by all means, try to put home buying out of your mind until then. If you are really ready to start searching now, get yourself preapproved by a mortgage company or bank, find an Agent you like, and start the process now.

You might even have a better idea of what you want to buy if you see 6 or 8 homes now--then go on vacation and while you are away discuss what you actually need and then what you actually want. I have often advised my clients to go get a bottle of wine and discuss what they need and want. Then the next day they often have a different list of what's important to them. So your vacation may give you the time to think through what you need--and that can save you money in the long run both on real estate and divorces.

Also, while you are on vacation you can keep up with the new listings via email. So with few distractions you can devote the time you need to to evaluating the various options.

Good Luck,
Dane Hahn
FL/NH Broker
0 votes Thank Flag Link Thu May 28, 2009
Take your vacation....... If you're worried about rates then do a little research to reassure yourself... http://www.fhfa.gov/ ...

http://mortgage-x.com/general/rate_trend.asp ... http://mortgage-x.com/trends.htm

http://mortgage-x.com/x/search.asp ...

Market ? ... http://www.newyorkfed.org/mortgagemaps/

Have a nice vacation, Dunes
0 votes Thank Flag Link Thu May 28, 2009
You can start now. Get pre-approved, get a Realtor and start looking. The home buying process can be long but you don't want to miss out on something great!

My office has a 3 bedroom 2 bath condex in Plaistow for sale for $200,000. Contact me if you'd like some more information!

Jennifer DeAlmeida
Century 21 Family & Associates
Office - (603)926-9846
Cell - (603)686-0111
0 votes Thank Flag Link Thu May 28, 2009
I would start the process now. Getting pre-approved... finding a buyers agent.... starting to look at properties.... There is plenty that can be done now to prepare you for when you are back from vacation. If you happen to put a property under agreement before you go on vacation, a good buyer's agent will hopefully have everything in line so your vacation should not be effected.

The two pieces of the process that a vacation can effect is the home inspection(you have limited time to perform one) and the financing. There is no reason you can't completely square away the financing prior to vacation by starting the process now.

I happen to be licensed in MA and NH and currently reside in Plaistow. I specialize working with first time home buyer's. If you would like to talk about your upcoming purchase give me a call.

Kevin- 978-360-0422
0 votes Thank Flag Link Thu May 28, 2009
First Timers,
This sounds like a personal decision that can only be made by you. If you are nervous about rates and hate to wait until after your trip, then maybe you need to weigh your options and consider postponing the vacation. I'm not sure of the details of your trip, but if you plan on being gone for a week, it's probably no big deal. As far as your vacation interfering with the purchase process, I definetely wouldn't go making any offers if you plan on leaving town. Especially if you want to actually enjoy your vacation without having to make decisions, take phone calls, e-mails, faxes, etc. As far as stages in the buying process goes, the initial week to 10 after contract acceptance are very busy for the buyers, and you really need to be in town for inspections, etc. Best of luck to you and enjoy your vacation (whenever it may be).
0 votes Thank Flag Link Thu May 28, 2009
It's understandable that you don't want to wait--rates are fluctuating each day, and seem to be edging up ever so slightly. At what point are you in the buying process? Are you pre-approved? Have you been out looking? I always recommend getting your pre-approval all set before going out "house shopping". The lenders require a great deal of paperwork from you, so if you haven't begun that process, now would be a great time to start.

You probably don't want to get involved with negotiations, home inspections, and more negotiations just prior to leaving. Those things are usually handled within days of an accepted offer, but you want to be able to give it the attention that such a large purchase deserves.

Perhaps while you are on vacation, an agent that you feel comfortable with could keep an eye on the market and even preview properties for you in your absence. That way, when you return, you'll already have a good jump on what is available in your price range,and can visit suitable properties as soon as you return. If you're not currently working with an agent, and you have more questions that you'd like to ask privately, you are welcome to contact me by phone (603-965-5196) or email (Valerie@SNHhome.com),

Valerie Cloutier,
Accredited Buyer's Representative
NH & MA Real Estate Services
Web Reference: http://www.SNHhome.com
0 votes Thank Flag Link Thu May 28, 2009
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