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Buying a home in a buyers market in New Milford CT, sounds great, doesn’t it?

October 31, 2010

Buying a home in a buyers market in New Milford CT, sounds great, doesn’t it?

Buying a house New Milford CTWhat could be better? It is a buyers market here in the greater New Milford, CT area, rates are down to a low that would make a “woman of the evening” blush, what could be wrong with that?

First, check your credit score. Do not make assumptions that your credit is in fine shape. Find out before you start looking for that home. You need to be well qualified to buy a home these days, and it takes longer than it did before. If you are in touch with a qualified mortgage professional you will know exactly where you stand before you go out and fall in love with a home you can’t afford. (I have a great list of great mortgage professionals, give me a call or send me an email, I will forward the list on to you.)

Second, connect with a Realtor® who knows the local market where you are planning your purchase. Not all homes are priced well, as you will find out when you start your search. What looks good on the internet, what sounds like the best deal going may indeed be something entirely different.

Foreclosed homes are often not eligible for a mortgage. Of course you may be able to get a HUD 203 (k) mortgage, one which allows you to get estimates prior to the purchase, wrap the money required into the mortgage and pay the professionals to fix the home. Don’t think you can fix it yourself with this loan, they will be checking. Some homes will not qualify for financing at all. It sounded too good to be true, and yes indeed, it was.

There are short sales out there, they are not “fire sales”. The lenders expect to get a fair market value price for the home. These can take time, if time is of the essence, this may not be for you.

There are some very well priced homes out there. As your local Realtor®, I will know the homes that are well priced and those that are not. You can take those homes that are priced way out of the ball park right off the list. This will save you time, aggravation and sometimes even heartache.

Want more information about buying a home in the greater New Milford, CT area? Check out my website, You can search for homes in New Milford, CT, save your searches, get email notifications of new homes that meet your criteria. Get up to date information as soon as it hits the multiple listing service, all free.

Buying your home in the Litchfield Hills
Your first home
Assemble a Winning Team, the Home Buying Process Explained,%20-73.3944466)&mextent=((41.52657175967685,%20-73.50608825683594),%20(41.654958108755956,%20-73.28292846679688))&mzoom=12

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