Bartlett & Jackson NH Real Estate Market

"BUY LOW, SELL HIGH!"

My father and I always joke about how easy investing is, just buy low and sell high.

Well the recent market crash and upheaval in the financial industry have left everyone unsure of what to do next. Do we bail out the Wall Street elite who made tens of millions of dollars a year selling fraudulent derivatives, and in turn send the US economy into recession for the next 5 years? Do we buy up risky mortages and put a freeze on foreclosures, allowing the average American to catch his or her breath and keep their primary homes?

What should you do next, if you are planning to buy?

1. Contact a local Mortgage Broker who lives and works in the community you are looking to buy in. Choose an agent based on referrals from trusted, experienced Real Estate agents. Ask them who they would use for their next purchase. If your agent directs you to a basket of brokers cards by the front door or hands you three cards with no explanation of what makes one better or worse than another, get another agent.
2. Plan on putting together 20% of the purchase price in cash. If you can pull it from saving great, or consider gifts from relatives, or even asking the Seller to kick some money back to you for closing costs. The new threshold of 20% will be around for some time to come and although you are still seeing offers to finance at less, the terms and interest charges will be much less attractive.
3. Work with a Buyers Agent that specializes in the specific market you are interested in. Do not be shy about asking for references of your Realtor. They will make between $4,000 and $6,000 handling the average transaction in NH. For that much money they should bring some strong experience and negotiating skills to the table for you.

• Ask how many properties like the ones you are looking at did they list or sell last year.
• What type of research and analysis do they do before making an offer. Expect at a minimum, a CMA, review of the deed and convenience, and a review of the property file at town hall within 48 hours of the offer being made.
• Finally, they should require you to sign a Buyer's Agency agreement prior to looking at any property. If they don't they are not looking out for your best interests and are working solely for the benefit of the Seller!

There are some great properties for sale out there at some great prices. But while some of the rules have changed, the basics never will... Buy Low, Sell High