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Home Buying in Hampton : Real Estate Advice

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  • Local Info3
  • Home Buying10
  • Home Selling1
  • Market Conditions5

Activity 11
Thu Nov 1, 2012
Chuck Braxton answered:
Hi, Larry:

I will be out in CO this winter doing my usual three weeks of skiing in Jan and Feb.

Great question. I made a dozen calls to agents a year or so ago asking the same question.

Except for one agent in Manchester, NH who continues to have a great conversation with himself with lots of spelling errors and more puff pieces than content, here is what I learned. NOT WORTH IT.

I continue to weigh in on questions raised in my area and although I can tell you that no business has resulted from the effort, I feel that I am giving back and adding a valuable viewpoint to a lot of the "pick me" contributions. I am starting to wonder whether the questions are legit. As Tom Cruise said, "Show me the money!" I just like giving consumers real content compared to some of the other blah, blah or non-local responses that I see go by.

I happen to do a lot with land and have been fairly happy with Landwatch.com Pro (all my listings, not just land). I have not looked at the pro/con of this site, but it generates a fair amount of traffic.

Here is what my office colleagues (fifty or so) and I think of Trulia. There are continually errors in the listing feeds, big errors. This cannot be our MLS system. Who has time to correct one's listings and check that over and over? When you complain, the first response is, "Sign up for Trulia Pro" Excuse me, but you are messing up my listings and adding to my wasted time while expecting me to jump on board. Thanx for the 'help." Trulia has to deliver a first class platform at the non subscriber level if they expect to attract premium subscribers.

Hey Trulia and Larry, give me a call if you want to chat. Chuck 603/677-2154
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Sat Apr 28, 2012
Scott Godzyk answered:
Sky yes Portsmouth can be more expensive than some parts of Hampton. As with a lot of communities in NH homes are now selling. You are seeing homes come on the market where sellers could not sell or were holding off. The seacoast of NH did not get hit as hard as the other areas of NH. They key is the homes are selling, buyers are ready, willing and able to buy while teh prices and interest rates are still low. ... more
0 votes 2 answers Share Flag
Sun Sep 4, 2011
Tracey Langdon answered:
Hi Billie

No one can answer when the best time is for you to buy. Right now the rates are good and the listing prices for homes and condos in Hampton are good.

Tracey
Prudential Verani Realty ... more
0 votes 2 answers Share Flag
Thu May 10, 2012
Kevin Olson, Jessica Laude answered:
Getting creative, I love it. The problem with fair credit is that no matter what you put down, the interest rate can offset most tax advantages because many of the lenders who will approve you need to take a class on ethics. I would pay for the home in cash only if you can talk to a lender (before you purchase the home) who will be able to approve you for the equity loan. Lots of places have requirements of owning the home for more than 2 years, so watch out for that.

In your situation I would contact a lender to see what they suggest to you. There could be things done to help your credit score that you are currently unaware of.
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Mon Oct 11, 2010
Kevin Olson, Jessica Laude answered:
Christina,

Is it possible to put part of your large down payment towards debt or something to raise your credit score but still have enough for a decent down payment? You may have already looked at this option... I'm only trying to help.

Good luck
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0 votes 5 answers Share Flag
Fri Mar 26, 2010
Scott Godzyk answered:
Unfortanately the assessors office does not update sales immediately, most within 30 days however not always. When looking in mls the only thing i see is it was withdrawn from the market March 16, 2010. It was listed at $439,900. I hope this helps. ... more
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Fri Mar 9, 2012
Chuck Braxton answered:
Dear Laura:

I feel your pain. Not sure if it would be possible for you to obtain a copy of that new BPO so that the listing agency can go back to the lender with their original work and that. This is one of the challenges of buying in a short sale environment. Sounds like you are on top of it. I might suggest that you talk with Tom Girard at The Workout Group, an affiliate of the Carter Law Office in Windham, NH about your case. Tom is at cell: 978/835-4688 which is the best way to reach him. The Workout Group specializes in handling short sales and is paid by the lender and they work with both buyers and sellers. They know how to speak the lender's language and cut red tape.

Best Regards,

Chuck Braxton, REALTOR GRI
Roche Realty Group, Inc., Meredith, NH
603/677-2154
cbraxton@metrocast.net
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0 votes 8 answers Share Flag
Sun Feb 21, 2010
Don Tepper answered:
Then what you received were not comps. The basis of comps are properties similar to yours that have sold within the past 90 days.

If a property is still on the market, it means that the property probably is overpriced. But it's difficult to say how much. For example, if a property is priced at $450,000 and has been on the market for a year, maybe it'll sell for $430,000. Or maybe $400,000. Or maybe $350,000.

Now, there's value in looking at active listing. It shows who you'll be competing against for buyers. So if you price your house the same as the properties priced around $450,000--and your house is roughly comparable--then it's likely that your home will be compared with those others. But it doesn't mean the buyer will buy yours, or will buy any of those other homes.

As for assessments: They mean absolutely nothing. Look at comps. Look at what's selling. And because you say "nothing has sold in the area for a while," you may be stuck taking a shot in the dark. Still, as I noted above, what you can tell from active listings, especially those on the market for a year, is that those houses are worth less than the asking price.

Hope that helps.
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Mon Jun 7, 2010
Dane Hahn answered:
Hello M,

Sounds like an amazing deal.

Dane Hahn
0 votes 4 answers Share Flag
Fri Mar 9, 2012
; answered:
Maryann, excellent question- alerting sellers as to your maximum is a bad idea. If you can have your lender provide you with a letter that is specific to your offer price, rather than wide open, you're less likely to have a seller that feels comfortable countering with a higher price. If your offer is rejected, you can always resubmit with a higher price within your comfort level. Your lender should be fine with sending out a letter specific to the offer, even if it entails changing the amount to work with a few offers. There's no need for your sellers to have awareness of the maximum that you qualify for- their interest will be that you qualify for the amount offered on their specific property. ... more
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Sat Nov 22, 2008
Don Tepper answered:
Several thoughts/pieces of advice:

First, find out what the true comps are. The discrepancy between assessment and list price is odd, but there could be a lot of reasons for it--everything from an old tax assessment (maybe that's what they sold for 3 years ago) to simply a vastly overpriced unit. You really, really need good comps to know what the real value is. It's good that you've seen nearby condos, and are basing your initial price on those. But you still might be off by 10%, 15%, or more. So: Get good comps.

Second, don't worry about your husband's advice. (Hey, Realtors know that wives make most of the decisions, anyway! I'm only partly joking; women really do make those decisions--to buy or not to buy--far often than guys. And that's why Realtors really do pay attention to women. Now if only car salesmen could learn the same lesson...)

But my point is: Do not worry about insulting a seller. Never. It's your money. It's a place where you might live. It's your financial future. Look: If you're prepared to move on anyway if you can't get it for the "right" price, what do you care if the seller's insulted? The seller will have 3 options when he/she receives your offer: (1) Accept, (2) Counter, or (3) Reject. If he/she counters, it indicates some level of interest. If it's rejected, you didn't want the condo at that high price anyway. And if it's accepted, you get the condo for your price.

And think of it this way: The seller should be insulted by the people who have looked at the condo and not made an offer. You're indicating you like the condo enough to go to the time and effort to make an offer.

So get the comps, then make an offer based on those comps and your level of interest and ability to pay.

Good luck.
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