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Posted by Heidi Mahoney on 3/5/2018

If you want to buy your dream house, you'll likely need to submit a competitive offer from the get-go. That way, you can boost the likelihood of receiving a "Yes" from a home seller and proceed along the homebuying journey.

Putting together a competitive homebuying proposal can be simple. Now, let's take a look at three tips to help you prepare a competitive offer to acquire your ideal residence.

1. Look at Your Homebuying Budget

Entering the real estate market with a budget in hand generally is beneficial. This budget will enable you to narrow your house search to residences that fall within a certain price range. Plus, your budget can help you define exactly how much you can offer to acquire a residence.

When it comes to mapping out a homebuying budget, you should meet with several lenders. These financial experts can help you get pre-approved for a mortgage. And with a mortgage in hand, you'll know exactly how much you can spend on a house.

2. Review Housing Market Data

Housing market data can make or break a homebuying proposal. If you assess real estate market data closely, you can uncover a variety of patterns and trends. Then, you can use this information to craft a competitive offer that accounts for the present real estate market's conditions.

Of course, it helps to evaluate the age and condition of a house as well. Learning about all aspects of a house will help you determine whether to submit an offer at, above or below a seller's initial asking price for his or her residence.

The more information that you obtain about a residence and the current housing market's conditions, the better off you will be. Because if you take a data-driven approach to buying a residence, you can define a competitive offer for any home, in any housing market and at any time.

3. Consult with a Real Estate Agent

A real estate agent is a difference-maker, particularly for a homebuyer who is uncertain about what differentiates a competitive home offer from a "lowball" proposal. In fact, a real estate agent will go above and beyond the call of duty to ensure that you can acquire a great house at the lowest-possible price.

Typically, a real estate agent will provide you with a wealth of housing market insights. He or she also is happy to teach you about the real estate market and respond to any of your homebuying concerns or questions.

A real estate agent can offer recommendations about how much you should offer to pay for a house too. He or she will provide honest, unbiased homebuying suggestions to help guide you in the right direction throughout the homebuying cycle.

If you want to purchase your dream house as quickly as possible, there is no reason to delay any further. Take advantage of the aforementioned tips, and you can prepare a competitive offer to purchase your dream residence.




Categories: Uncategorized  


Posted by Heidi Mahoney on 2/26/2018

Buying a home may seem like a smart financial move. However, it may not always be the right time or the right move for you. While buying a home is a great investment, you may not be ready to buy a home of your own. The following questions should help you to determine whether or not you are fully ready to buy a house in the near future.


How Much Money Do You Make? How Much Have You Saved?


buying a home is a significant expense. First, youíll need quite a large sum of money for a downpayment and closing costs on the home. Second, to get approved for a mortgage, the lender will look at every part of your finances from your income to your assets. Once the home is purchased, youíll also need quite a bit of capital for expenses including insurance, taxes, HOA fees, emergency funds, utilities, and furniture. You donít want to buy a home only to be overwhelmed with costs. You want enough of a financial cushion to enable you to furnish your home, decorate your home, and not have a completely empty bank account. Thatís why you should make sure that you do make enough money to buy a home.



How Much Debt Do You Have?


If you have established that your income is enough to buy a home, the next thing that you need to establish is that your debt isnít too high. Before you enter into the adventure of homeownership, youíll need to make sure that your bills are under control. These expenses include things like car loans, student loans, and credit card bills. Your lender will put your debt into consideration as a part of your entire financial picture. Your debt (including your proposed mortgage payment) should be less than around 36% of your gross income. Before you take the leap into buying a home, youíll need to make sure that your debt is under control. If you need to take a step back and pay your bills down before you start house hunting, you should as it will make buying a home easier for you.


Are You Seasoned At Your Job?


In order to secure a mortgage for a home, youíll need to show that you have been at the same job for a certain period of time. Your average income will probably be calculated based on how long you have been at the company and your job history. You should be able to explain any income gaps, changes in positions or companies. Otherwise, youíll appear to be an unstable person to lend to. Lenders want to know that youíll have a steady, stable income.


How Is Your Credit?


In order to secure a mortgage, youíll need to have a good credit score. Check on your credit report when you begin thinking about buying a home. If your credit is on the low side, youíll want to work on bringing that score up. 


     




Tags: Buying a Home   finances  
Categories: Uncategorized  


Posted by Heidi Mahoney on 2/22/2018


22 Mount Vernon, Haverhill, MA 01830

Zip 01830

Condo

$149,990
Price

4
Rooms
2
Beds
1
Baths
Great Value in a crazy market! This is not a cookie cutter condo! Unique garden - style condo on the top floor featuring 2 bedrooms with a newly remodeled bathroom. Skylights provide lots of natural light and there is a large eat-in kitchen with new wood /laminate flooring. All appliances, including a washer/dryer, are included. There is storage available in the basement. This is an owner-managed 4 unit building with 2 deeded off-street parking spaces. Bring your pets! Close to all area amenities, downtown shops, and restaurants, the train, the Merrimack River, Winnekenni Park, Rts. 495, 97, and 125.
Open House
Sunday
February 25 at 11:30 AM to 1:00 PM
Cannot make the Open Houses?
Location: 22 Mount Vernon, Haverhill, MA 01830    Get Directions

Similar Properties





Tags: Haverhill   Real Estate   01830   Condo   Open House  
Categories: Open House  


Posted by Heidi Mahoney on 2/22/2018


22 Mount Vernon, Haverhill, MA 01830

Zip 01830

Condo

$149,990
Price

4
Rooms
2
Beds
1
Baths
Great Value in a crazy market! This is not a cookie cutter condo! Unique garden - style condo on the top floor featuring 2 bedrooms with a newly remodeled bathroom. Skylights provide lots of natural light and there is a large eat-in kitchen with new wood /laminate flooring. All appliances, including a washer/dryer, are included. There is storage available in the basement. This is an owner-managed 4 unit building with 2 deeded off-street parking spaces. Bring your pets! Close to all area amenities, downtown shops, and restaurants, the train, the Merrimack River, Winnekenni Park, Rts. 495, 97, and 125.
Open House
No scheduled Open Houses

Similar Properties





Tags: Haverhill   Real Estate   01830   Condo  
Categories: New Homes  


Posted by Heidi Mahoney on 2/19/2018

Aside from your realtor, your lender will be one of the people that you work the most closely with when youíre buying a home. Before you even sign on with a lender, thereís a few questions that you should ask. Donít feel pressure from a certain lender before you understand what their areas of expertise are. You donít want to end up with homebuyerís remorse because you didnít do the right research before you signed the deal on a home.   


Can You Tell Me About Programs For First Time Homebuyers? 


There are so many great programs for first-time homebuyers. If the lender you choose canít help you with these programs, maybe this isnít the right lender for you. If your lender lacks knowledge in the areas that you need, you probably want to shop around.


How Can You Help Me Qualify For The Loan I Need?


Many times, loans have very specific qualifications that you need to meet. Even if you think you might not meet those requirements due to things like a low amount of down payment or a job change, your lender can often help you to find the details in your situation to help you qualify for a loan. For example, you may have recently changed jobs, but if you have stayed in the same field, your lender can help you to explain these circumstances so that you can still qualify for the loan. 


Are There Downpayment Assistance Programs Available?


There are also many programs and loan types available to help buyers get a home with less than a 20% downpayment. Some loans offer good interest rates with less than a 20% downpayment. There are also many grants and downpayment assistance plans available. Itís important to ask questions to know the right information for your loan circumstances.


What Fees Do You Charge?


Some lenders do charge an array of fees. You donít want to sign on with a lender and then close on the loan, only to find out that youíre knee-deep in fees in addition to all of the closing costs that you have to pay along with the home purchase. 


How Will You Communicate With Me


Just like your Realtor, itís important that your lender communicates with you in a timely manner. Buying a home requires that documents and offers are in on time to secure your home. Donít let anything fall through the cracks by hiring people on your home search that may lapse in their communication with important information.




Tags: loans   mortgage lenders  
Categories: Uncategorized  




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