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01201 : Real Estate Advice

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  • Home Buying13
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Activity 13
Tue Aug 4, 2015
Talib Hussain answered:
Its always good to discuss financial matters with lenders. They are the experts in their line of work. Reach out to a local lender. Agents usually work with lenders and so if you work with one they should be able to suggest. ... more
0 votes 12 answers Share Flag
Fri Jan 23, 2015
The Graveline Group answered:
A good place to start would be the Pittsfield Housing Authority. I'm sure that they would be able to direct you. They're at 65 Columbus Avenue, Pittsfield, MA 01201 and can be reached by phone at (413) 499-2771. ... more
0 votes 1 answer Share Flag
Sat Nov 30, 2013
Michele Purcell answered:
0 votes 6 answers Share Flag
Wed Oct 9, 2013
Angelo Petruccelli answered:
Thu Apr 8, 2010
Barb Davis-Hassan answered:
Since you have already determined that you want to use a buyer's agent, here is another way to find or locate one who specializes in buyer's agency. Each state in the U. S. A. has a Realtor Association. In Massachusetts it's referred to as the Massachusetts Association of Realtors (MAR). Any agent who is a REALTOR will have all of their credentials stored in the MAR database. You can access this database to find a buyer's agent with the credentials "Certified Buyers Representative" "Accredited Buyer's Representative" and "Certified Residential Specialist". Go to www.MARealtors.com; Find A Realtor; Directory Search; Select City; or enter the agents name that you would like to represent you and you can see their credentials at this site.
Of course there is nothing better than a personal referral from a trusted family member, friend, or other advocate putting your interest first. Meet your buyers agent and get to know him/her for a few weeks or a month before you sign a long term buyer's agent contract. This way you can make sure your expectations and your agents work style match ensuring a better home buying experience. HAPPY HOME HUNTING!


Barb Davis-Hassan, CCIM, CRS, CBR, GRI
Broker/Owner
Barb Hassan Realty, Inc.
Tel. 413-447-7300 or 1-866-567-7300
www.BarbHassanRealty.Com
Barb@BarbHassanRealty.com
... more
0 votes 6 answers Share Flag
Tue Jan 12, 2010
Elizabeth Herbert answered:
I'm a member of the International Real Estate Federation/FIABCI and I'm a licensed Realtor in MA.

If you still need assistance, I can be reached at elizabeth@elizabethherbert.com. ... more
0 votes 9 answers Share Flag
Tue Nov 17, 2009
Anne Meczywor answered:
You are asking about the "move-up" credit, rather than the "first time homebuyer", correct? The last repondant was correct that you should verify with a tax preparer/accountant and your attorney for your particular case, but the general guideline is that you must have owed your former property or properties for 5 of the last 8 years. (If you are filing jointly and one of you owned a property for less than 5 of the last 8 years that was sold, you may not qualify. Check with your financial advisor.) Your income as a couple cannot exceed $225,000, and as a single, $150,000. The maximum price on the new residence, however, can be upwards of $800,000 (I can't remember the EXACT figure on the home price - A little help, fellow REALTORS?). Please remember that the $6500 figure is the upper limit of your potential credit. Depending on income, cost of the property, etc., you may qualify for less.

Just to brag about my fellow professionals a bit here - The National Association of Realtors was highly instrumental in getting information on the effectiveness of the tax credit to our lawmakers. In very high numbers, we individual REALTORS contacted our legislators. We strongly pushed for the extension of the first time homebuyer credit and the expansion of the credit to benefit move up buyers. As of last May, Capital Hill was VERY reluctant to even consider extending the credit because they didn't see the value in it. We made sure they knew it was working - and why.
... more
0 votes 2 answers Share Flag
Sun Nov 15, 2009
Rachelle Knight answered:
The credit is available to either someone who hasn't owned a home within the last 3 years, considered a first time buyer (which appears to exclude you) or someone who owned a home for 5 consecutive years during the last 8. So, if you owned the same home from 2001 or 2002 to 2007 you should be eligible, as long as you owned it for a full, consecutive five years. You should call your agent and ask them- they know your situation and should be able to provide specific answers. ... more
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Tue Sep 29, 2009
Anne Meczywor answered:
Occasionally our local lenders provide seminars with very useful information. They frequently include attorneys and real estate professionals on expert panel. Contact some of the local lenders here and inquire. Or ask at a local real estate school. Beware of "seminars' by outside experts - it may be someone passing through from Vermont who likes to share their opinions! :D ... more
0 votes 2 answers Share Flag
Tue Sep 29, 2009
Anne Meczywor answered:
Hi, Rebecca,
Absolutely get your preapproval first, then hook up with a buyer agent. In Berkshire County, we have VERY few foreclosures, but the process is not very easy and IT TAKES TIME. If you are trying to buy your first property to take advantage of the tax credit, time is NOT on your side, as you really should have something fully under contract within the next couple of weeks to have ANY hope of closing before the deadline! Home inspectors, appraisers, and attorneys are getting backed up already, and the unexpected always comes up at the worst possible times. Delays WILL be a problem and some buyers will miss out on their tax credit because they can't close before November 30th.

Foreclosures have complicated steps that the lenders follow in processing offers. Its not like you are negotiating with one person - you have to jump through many corporate hoops. It may take weeks, not days, to get any reponse to your offer. Additionally, if someone comes in willing to pay cash, and you need to finance the purchase, even if you are preapproved and your offer is higher, the cash buyer may end up getting the property that you wanted.

Additionally, foreclosures may have problems of which you will be completely unaware. It is unlikely that there will be a seller disclosure of defects - a corporation across the country has no knowledge of the property's unseen "issues". This is the risk you assume when you buy a foreclosed property. It will be an "as is" sale, meaning you will have no recourse if there are problems you discover after the sale. That can get expensive very quickly.

If you need to take advantage of the tax credit, I have to recommend at this late date you should avoid foreclosures. There are a number of really great properties on the MLS, and super buyer agents who can help you every step of the way to help get you closed by November 30th. Did you know that the seller normally pays the buyer agent's fee, not you? Take the free, experienced professional advice that is available to you!!!!!!!

Good luck in finding your first property!
... more
0 votes 7 answers Share Flag
Thu Mar 13, 2008
Emily Erekuff answered:
Hi Tim,

Trulia's search results include foreclosure listings including pre-foreclosures. Check out the link below to view foreclosure listings in the 01201 zip code. When you view the details for a listing you'll see the foreclosure status as either pre-foreclosure, auction, or bank-owned.

Best Wishes,

Emily Gibson
Customer Service Representative
... more
0 votes 4 answers Share Flag
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