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Hudson Valley Home Buyers now is a great time to buy

Yes, thats right, it is a great time to buy a house in the Hudson Valley. I know, because of the recent mortgage upheaval many of you think you would not be able to qualify for your dream house but that is not true. Lets consider a few reasons why you might want to jump into the market now:

Of course, to purchase the home you want you will need to get a mortgage. Have no fear, there are many mortgage programs available out there. The only thing that has changed is that everyone is acting more responsibly going through the process and making sure that if you are granted a mortgage you really are qualified to repay the amount mortgaged. The fact is, although there has been non-stop media hype the majority of mortgages issued were not subprime. Therefore, mortgages are still available at reasonable rates for qualified borrowers.

So, before you start looking for that perfect home it is best to start with a mortgage representative who can help identify a program that would be right for you. Your real estate professional can be a great resource to help you find a mortgage professional.

Once you know how much house you can afford then you can start looking for a home with the aid of your agent. Today, many buyers now start their search on the internet. This is certainly a great way to get an idea of what you are looking for. Most properties are advertised with many pictures as well as with virtual tours which give you a sense of the property. I have had clients who will find properties that interest them; they then call me for additional information on the property. Next, they drive by to make sure the area is what they are looking for. The list of homes to tour is then reduced to just the few homes they really want to see and we then make appointments to see those homes.

The inventory level is high. What does that mean? that you will have more choices and more of an opportunity to negotiate. Most sellers would love to get an opportunity to negotiate.

This is truly A BUYER'S MARKET and now some sellers are even willing to hold a portion of the mortgage or rent with the option to buy; these are options that just a year ago would not have been available to buyers.

So, this is not just the hype of a real estate agent hoping to make a sale. There are actually sound reasons to enter the market NOW if you desire to own your own home and can reasonably afford a mortgage.

Jennifer Fivelsdal - 845-758-6842

Posted by Jennifer Fivelsdal, Fishkill NY on 11/25/2007 07:49 PM

Comments (12)

hudson valley home buyers, virtual tour, buyers market, mortgage, rent with option to buy

Originally posted at: Rhinebeck Living: Hudson Valley Home Buyers now is a great time to buy

This post has been included in New York Information Dutchess County, NY Information

12 Comments on Hudson Valley Home Buyers now is a great time to buy

NOV

2007

Jennifer you are absolutely right right now is a great time to buy. There are several mortgage program with great rates available right now. And I fully agree with you that a Buyer should first get Pre-qualified for a Loan so that they are not falling in love with a house that they can not purchase and end up disappointed, as well as waisting a lot of time.

Jennifer,

When you are in a buyer's market, it is awesome to provide this information to consumers, so they can understand what is going on and how they can benefit, you do a great job always giving information about the market in your state.

Keep it good

Ray Saenz

NOV

2007

George- Thanks for pointing out tha there are mortgage programs out there; and with such a large inventory cnsumers couldn't ask for a better time to buyer.

Ray- Providing useful information to the public is something I like doing. You do a graet job in your marketplace.

Jennifer, Your area is so beautiful I hope people interested will take your advice and get pre-qualified. Since so many people are leaving the Island but want to stay in New York, they would love your area.

Carole - This is truly a beautiful area and popular with people moving from Long Island. More than ever it is important to look into getting a mortgage before looking for a house.

For qualified buyers, it is a great time to buy. There is plenty inventory to choose from and lenders will compete readily for a qualified buyer's business.

Derrick - That is so true; I know some potential buyer felt they would not be able to get a mortgage but this is not the case. Qualified buyers can still get a mortgage.

Hi Jennifer,

I must agree with you, it is a buyers market and we should let people know. Great Post.

Jennifer,

The interest rate market hit a 2 year low this afternoon further aiding buyers. Someone with their financial house in order will do very well in this market on so many levels. Whether or not the bank where they apply for their loan will be around by the time a buyer closes remains to be seen.

NOV

2007

Anthony - It sure is, some of the sellers are still having a hard time accepting it.

Jesse - the rates are good so if someone qualifies for a mortgage it is a good time to buy. By working with a Realtor a buyer will get recommendation of at least 3 reputable institutions issuing mortgages.

DEC

2007

Jennifer, can you hear me clapping? I am, this is a great post with great information. This description probably describes a large majority of us and our areas. It is a shame that this message is not being heard more loudly. Thanks for saying what needs to be said.

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