my husband and I work and rent in California but we wnat ot tbuy in Arizona and then move there. Do we have?

Asked by Flora Ahrding, Arizona Mon Mar 2, 2009

to have a job in Arizona first or can we buy then move.

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Troy Erickson, Agent, Chandler, AZ
Tue Mar 10, 2009
Flora, this is a very complicated question and if you don't do things just right, it could cost you in the end. I don't mean to seem like I am trying to scare you, but the decisions you make now will definitely make your transition easier or more difficult. Just the job change alone could be harmful to your ability to purchase a new home in Arizona. Like Randy said, you should interview a couple of local Arizona agents and openly discuss your plans as well as your current situation. From there, you should be able to decide who you want to work with moving forward, and the agent should be able to help you in making the right decision to make your move a smooth transition.
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Dee Johnson, Agent, Prescott Valley, AZ
Mon Mar 2, 2009
Hi Flora! I see that you are currently renting in CA. I agree with Randy that you should consult a real estate agent and mortgage lender in the area in AZ that you are looking for.

I was wondering if you have a specific area in mind to move to? Consider checking out Prescott!! It is in the Northern part of the state (approx. 1 1/2 hrs from Phx.) We have much cooler weather than the Southern part of the state, it is a great place to live--lots of activities going on year round, and our air is clean and fresh!! Prescott us "everyone's home town." Here are a couple of web sites to check out: http://www.cityof prescott.com and http://www.pvaz.com. I would be happy to answer any questions you may have about this area!

Thank you! Dee djohnson@exitfw.com
0 votes
Lisa Powell-…, , Queen Creek, AZ
Mon Mar 2, 2009
Hi Flora -

Great question. Do you already have positions here in Arizona?

Lisa

Lisa@TheNiimiTeam.com
0 votes
Randy Hooker, Agent, Chandler, AZ
Mon Mar 2, 2009
Hi Flora!

Great question!! The answer, however, is not so simple. It depends on a number of factors, including the type of mortgage loan you'll be using, your income before and after the move, credit history, etc., etc. Basically, if you attempt to buy before you move, the lender will consider your purchase to be a second home or investment property, and the terms of the loan will not be as favorable. And if you already have a loan on your home in CA, then you'll have to qualify for the new loan INCLUDING the old loan in your ratios. There are other factors to consider, so I would recommend two things to you:

1. You would be well advised to first secure the services of a Buyer's Broker Realtor in the area of Arizona in which you intend to buy, to advise and assist you throughout the entire process. The cost to you is typically nothing, zero, zip ~ but the value to you could be immeasurable.

2. Then you should obtain a referral/recommendation from your Arizona Realtor to a local, reputable mortgage lender who can help you obtain loan pre-approval and otherwise consult with you about your options

Let me know if you have other questions, or if we can assist you further.

...randy

Randy Hooker
Buyer's Broker
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