Hi, I'm planning to move to Boston some time in May 2010...

Asked by Miksem, Brookline, MA Wed Oct 21, 2009

Hi, I'm planning to move to Newton/Brookline Boston some time in May 2010 ( my job contract starts in July). Could anybody please advise me the best time to start looking for a place to buy (2-3 bedroom place), considering I'm out of state. I don't need to sell anything in NY and my credit score is above 750. Thank you.

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Greer Swiston, Agent, Newton, MA
Wed Oct 21, 2009
BEST ANSWER
No later than Jan, I would agree.

What is your schedule now? What is keeping you in New York right now? Would you like to discuss this offline? (I can be reached at greer.swiston@commonmoves.com)

I ask, because I think you ought to come up at your next earliest convenience and spend about a day or two looking at some houses. How familiar are you with the Boston area? Do you have a particular community you already know you'll want to focus on?

Then ... let your Realtor work for you and then perhaps you might be able to make some choice visits in the winter and be able to seal the deal before the Spring market goes into full swing and all the other buyers come out.

Just a thought.
0 votes
Deb Nicholls, Agent, Concord, MA
Wed Oct 21, 2009
Mike,

You should think about coming up for a weekend now and then (since you aren't too far away) to get to know the various neighbohoods. You are looking at a wide range of locations. Once you settle on a few places, watch the listings (on line) to get an idea of prices. Then when you come up to do some serious home-shopping, you will have a better idea of what you want and be better educated about the market. There isn't much on the market in January. I would wait until late February, early March, and then be ready to make a decision if you see something you really like. March is a busy listing month, thus better inventory. If you pick something by early April, you can be in your new home 4 to 8 weeks later, depending on the seller's situation.

As someone else mentioned, you'll need a pre-apprval, and it should be from someone local.

Good luck!

Deb Nicholls
Keller Williams Realty Boston Northwest
Concored, MA
Web Reference:  http://www.debn.net
1 vote
Cathleen Lane, Agent, Brookline, MA
Thu Apr 1, 2010
Mike did you look at anything yet? Our office also has a very good rental manager who has been doing rentals for 15+ years in case you want a back up and cannot find something you want to buy.
0 votes
Greer Swiston, Agent, Newton, MA
Wed Mar 31, 2010
So Mike ... have you found a place yet? We're enterring April and you may still qualify for the First Time Home Buyer's credit if you can get a deal together this month.

Please feel free to contact me if I can be of any assistance. My office is in Wellesley, but I live in Newton.
0 votes
Stephen Suech, , Boston, MA
Thu Jan 28, 2010
On the financing side, you should really get a property under contract by end of April to be able to take advantage of the $8000 Tax Credit. I am a Sr. Mortgage Banker in Boston and can help you with the mortgage end of things. Feel free to contact me at ssuech@savvyborrowers.com and I can then provide you with my phone# and company information.
0 votes
Robert Byrne, , 02118
Sun Jan 17, 2010
It takes at leasty 60 days to close the standard purchase in Mass, so figure on that as a minimum. You need to have the property under agreement by May 1st to close by July 1st, but you might want to be under agreement by mid-april to leave room for any surprises which cannot be foreseen. Good Luck
Web Reference:  http://www.robertmbyrne.com
0 votes
Cathleen Lane, Agent, Brookline, MA
Thu Jan 14, 2010
I am located in the heart of the Brookline market and while last year there wasn't a lot of inventory, the nicer places that came up went fast in the prime target areas. As the tax credit most likely will push the buying season up a bit I would start in February if I were you. These communities are all different and it would help you and the realtor to sit down/talk and do an assessment of what you are looking for in your home, neighborhood and commute. That will narrow it down substantially as they can recommend what fits the most for you. If the realtor has a 4 or 5 page questionnaire to really go into detail of things you may not even think of telling them. But I would look in mid to end of February and you can ask for a 90 day close if you find the right place sooner than later. Best,


CathleenLane.com
0 votes
Jeff Chin, , 02459
Thu Jan 14, 2010
Hi Mike,

Good inquiry to make sure your purchase goes through in May. Today's lending guidelines will require you to have the job contract offer as proof of earning capacity for a mortgage. In all likelihood, the closer to your start date, the better in the lender's eyes. Cover this contingency by getting pre-qualified with a licensed mortgage professional before you start looking, I would suggest the March timeframe.
Web Reference:  http://jeffchinloans.com
0 votes
Deb Nicholls, Agent, Concord, MA
Tue Jan 5, 2010
Mike,

Another observation: If you qualify for the latest homebuyer tax credit you'll want to make sure you have your new home under agreement by April 30. Sounds like that fits your timeline, but wanted to point it out to you.

Deb Nicholls
Keller Williams Realty Boston Northwest
Web Reference:  http://homes.debn.net
0 votes
Lizf, , 01880
Tue Jan 5, 2010
Hi Mike,
I hope you found your answers. I would love to help you find exactly what you are looking for. I have much boston experience and understand what it is like to relocate out of state. I would love to make it as simple as possible for you...and stress free!!! Definitley get your self a great buyers agent asap, if you haven't already and start looking immediately. Let me know if I can be of any assistance. We can talk price and size when you are ready to jump in! I advice start now!

email: LizFioreRemax@gmail.net
Web Reference:  http://www.LizFiore.com
0 votes
Tom and Joan…, Agent, Boston, MA
Fri Dec 11, 2009
Mike:

Depending upon your history of home ownership, and whether you will be offered temporary housing would really affect your decision making process. I work in Weston which is adjacent to Newton, and typically in our market place it takes about 45-90 days to close on a home from the time of your offer. Massachusetts has a different sales process than NY as we are considered a dual contract state, and understanding the process will help you in your decision making process.

I would suggest that if you want to be in a place by May that you start looking in February and if your expectation is to be into a home by July that you start looking in late April or May. Giving you time to identify communities and then allowing for the 45-90 days that it may take to close. I am a ABR and have a lot of relocation history. My website is listed below and please feel free to contact me for further assistance.
Web Reference:  http://tomandjoanneteam.com
0 votes
OptHome, , Framingham, MA
Wed Nov 25, 2009
If your not familar with the Boston area and need to find the best realtor in the neighborhoods that appeal to you, then OptHome can assist you. We can assess the local realtors and based on your criteria, help find you the Best Realtors/Agent that fits your criteria.
Feel free to browse the website for more information and to see how thisa free service works.
Opthome.com or call
1-888-765-MYHOME (1-888-765-6946)
Web Reference:  http://www.opthome.com
0 votes
Territory.c…, Agent, MA,
Wed Oct 21, 2009
Start searching online now to start getting an idea of what your money buys you where. I would start searching in person mid february that is about when the inventory starts to bulk back up in preparation for the spring market. May is a great time to buy because you have lots to choose from.

Hope that helps!
Feel free to reach out any time:
http://www.bostontre.com
Help@territoryre.com
6178485407 ext 706
0 votes
Susan Costa, , Westport, MA
Wed Oct 21, 2009
Hi Mike

You should make a trip out here to view the area(your question did not say that you knew the area).

I would e happy to assist you in finding a place. Consider it taing 2 months for a closing. Not sure if you are a first time home buyer. But, you will need to get prequalified and then start looking. I have found that it takes a buyer several months to find the "right" place for them and then add min 2 mo for closing to take place.

Give me a call .
0 votes
Dallas Texas, Agent, Dallas, TN
Wed Oct 21, 2009
START WITH:
a) FYI you need approved for a loan , upon lender statement those letters are valid for approx. 60 days.
b) All sales offers require bank approval you have ability purchase any property.

c) Budget time for search, approx. time of 30 days close from point of executed sales offer.
d) You can narrow your search down in meantime of knowing which areas you have most interest in, and home specifications.


National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911

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0 votes
Carl Greenler, , Lynn, MA
Wed Oct 21, 2009
I would consider starting your search by the end of Jan. It takes on average 2 months from signing P&S to closing, and you will need time to look at properties.
0 votes
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