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Six Reasons Why NOW Really Is A Great Time to Buy!


Odiorne Point State Park - Rye NH

Are you wondering if now is a good time to jump into the Portsmouth New Hampshire real estate market? I know we're all getting mixed signals from the media all over the place - newspapers, magazines, radio, television, the internet, etc.


But if you stop and really think about it, there are some great things going on that make NOW a wonderful time for home and condo buyers to get into the market.

Here are 6 reasons why buying NOW makes a lot of sense:

  • Choices! Buyers actually have a number of choices available to them. That's unlike what the market was offering for several years - when a Portsmouth NH home or condo came on the market then, buyers would be lined up trying to get in, and you could barely take a breath before you had to make a decision to buy it or not.

  • Offers Encouraged! Not only are offers encouraged, but they're expected. It wasn't all that long ago that the only offers you could make were over the asking price offer, and you had to decide just how much over the asking price you needed to go to get that house. Here in Portsmouth and surrounding Seacoast towns, sellers are receiving, on average, 96.7% of their asking prices for their final selling prices.

  • Great Interest Rates! The rates today are about the lowest they've been in the last 3 years or so. Sure, the mortgage guidelines have tightened from the days of being able to just breathe and you could almost get a loan, but for good borrowers with good credit and some money in the bank, the mortgage programs are out there waiting for you.

  • Time is Your Friend! In the very robust market of not so long ago, you had basically no time to think about a house after you saw it. You had to make a decision right then and there whether you were going to make an offer, and you had to make that offer very quickly or you'd miss out. Homes in Portsmouth NH, if they're priced realistically and agressively for this market, are selling in a very timely manner, but you do have time to look at a few houses and a little time to think about how you want to proceed. But don't snooze too long if you find just that right house for you - he who takes a snooze may still lose, if you snooze too long.

  • Inspections & Due Diligence Welcome! In the market of a few years ago, not only did you have to go over the asking price, but you usually felt you had to forego any and all inspections as a contingency in the contract. Times have changed, and inspections and other due diligence is welcomed and expected.

  • Closing Costs and/or Inspection Repairs Considered! Not only are inspections welcomed, but if requested repairs are reasonable, many sellers are more than willing to work with you on them. We are also seeing some sellers willing to consider buyer closing cost concessions as well, within reason of course.

Portsmouth Harbor - Portsmouth NH


As you can see, NOW just may be THE best time for YOU to get out there and find your new home or condo. Buying real estate in Portsmouth NH can be a fun and enjoyable process - I'd love to help you achieve your goal of buying a new home or condo, AND have fun doing so!







Related Articles of Interest For Portsmouth NH Homes and Condos Buyers:


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Ann Cummings, New Hampshire REALTOR
 Broker - NH and Maine
RE/MAX Coast to Coast
Portsmouth NH
ann@anncummings.com
888-349-5678 x 3839
Servicing the Coastal Areas of NH & Southern Maine REALTOR



Ann Cummings New Hampshire REALTOR

Posted Thursday Feb 14
( 02/14/08 07:15PM ) — Ray Nellum Fort Smith Real Estate

Ann, you inspire me!!  It is a great time to buy and the pro's surely out-weight the con's.

( 02/14/08 07:16PM ) — Renee Stengel, Westchester County

Great concept and content.  Hopefully, buyers will ready and believe.

 

( 02/14/08 07:19PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Hi Ray - what a nice comment!  I think the pro's really do far out-weigh the con's in this market, and it someone's a real buyer in this market. 

Hi Renee - thanks!  We're starting to see buyers finally understand how this market is to their benefit.  And I'm seeing sellers understand that, too.


Many thanks for reading and commenting!
Ann

( 02/14/08 07:36PM ) — ~ Sean Allen ~ International Financing Solutions

Hey Ann .....GREAT POINTS .....It IS a great time to buy.

Sean Allen

( 02/14/08 07:42PM ) — Dianne Clayton

Ann,

Great points.  I hope some of your buyers read this!  Thanks for sharing!

By the way, you have the distinction of being my first response to a post...

Dianne Clayton

( 02/14/08 08:11PM ) — Randy L. Prothero - Hawaii REALTOR®

I see many of the same reasons in our market and am planning to buy this year also.

( 02/14/08 09:25PM ) — George Souto

Ann, you covered it all really well.  Heck if we go by what the media has to say, we would all be out of business.  Some parts of the country are going through hard times, but several are not, and are holding their own, especially here in New England.  So when someone asks me if this is a good time to buy, my answer is always, absolutely. 

When should they buy ......... Right Now!!!!! 

( 02/14/08 09:59PM ) — Chris Frantz

I agree it is a perfect time to buy.  Only if the media stops driving this country into a recession.  Every-time I turn on the news it the same old story about the problems with the economy.  If they continue to keep scaring everyone, we will have a recession. 

( 02/15/08 12:42AM ) — Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes

Ann- Now is the time to buy and many bargains to be had. I love your reasons and I hope the buyers realize this and call you today! 

( 02/15/08 06:25AM ) — Neal Bloom-Realtor ® Assoc.-CRS-Weston FL

Ann,

There are many good deals around the country...the educated buyer just have to have us do some research to find it. It really all depends on whether or not they buy to live in the property or hold it long term or rent it out. But there are definitely things you can pick up and hopefully later consider a good investment down the road.

( 02/15/08 06:25AM ) — Kim Carpenter-Lake Winnipesaukee REALTOR -Lake Winnipesaukee Real Estate, NH

Ann, this is awesome information!!  Great reasons!!!  The reasons are not just Portsmouth specific!  The same could be true for our Lakes Region!! :)

( 02/15/08 09:44AM ) — Kathy Clulow ASP® SRES®

Ann - Six very good reasons to be out looking "NOW" ready to "BUY"!!From What I have seen here on AR and heard in the news your market is probably at its prime for "Buyers"

( 02/16/08 01:28PM ) — Mesa, Arizona Real Estate *** Teri Ellis, Broker, ABR,CRS,GRI,ePRO,MRE

Ann, isn't it wonderful how we can get information out to our potential buyers? 20 years ago, that didn't happen. Hopefully this message resonates to all of the potential buyes.

Pepper

( 02/16/08 06:15PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Sean - it really is, and now if the media would just get that point, too!

Dianne - how cool is that!  I'm glad to be the beneficiary of your first (of many I hope!) comments here on AR!  I hope you enjoy being part of this great network, and I look forward to seeing more of your comments.  Thanks for making my post your first!

Randy - I think many REALTORS may be doing the same thing.  I know we're thinking of doing just that this year ourselves.

George - and it really is true up here, too!  Most of New England has fared better than many parts of the country, and there are parts of New England doing very well.  NOW is THE time!


Many thanks for reading and for your comments!
Ann

 

( 02/16/08 06:19PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Chris - I agree with you about the media.  They really need to look around and realize that they just can't keep painting the entire country with the same broad brush - real estate is LOCAL.  You'd think they'd realize that from their own home town areas.

Katerina - thank you!  I see so many good buys in this market, buyers should be snapping them up!

Neal - hey!  Buyers need to buy right and buy smart for whatever their reasons are for buying.  Great buys out there all over the place, for sure!


Thank you all for reading and commenting!
Ann

( 02/16/08 06:23PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Kim - I bet those reasons could apply to many market areas all over the country!  Now to make sure the media sees them and realizes how true it is, too.

Kathy - you hit the nail on the head!  It's the perfect storm for buyers here in my area - low interest rates, choices, time, negotiable sellers - BUY NOW!  There's nothing worse than looking in the rear view mirror and saying, if only I had......

Teri - we do live in a very different age.  Immediacy and multiple ways to communicate - how did we ever manage before?? 


Many thanks for reading and for commenting!
Ann

( 02/16/08 11:50PM ) — Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages - USDA loans

Ann.. I think that this is the biggest message that we need to get out there period, that this is the time to buy. I know some are waiting, telling me that they are waiting for prices to go down even more. Big mistake in my opinion and a big gamble, because rates might go up...which they have.  And hence why you might want to say that rates are low, but not the lowest in 3 years. They are actually a full 1/2 percent higher from 3 weeks ago. Not trying to be harsh on this, just my perspective when bringing this up.  But again, you bring up some great points.

jeff belonger

( 02/17/08 04:25PM ) — Portsmouth NH Homes Condos - Ann Cummings New Hampshire REALTOR®

Hi Jeff - thanks for pointing about that rate info.  I wrote this last week, and just posted it yesterday, which is why it initially read 'the lowest'.  I changed it to reflect 'about the lowest'.  Thanks!

When I hear someone say they think they want to wait to see if prices might go down a little more, I tell them that if they see THE house or condo for them today, they should jump on it because that same house or condo may just be the perfect place for someone else who's already seen it and recognizes how great a time this is to buy.  We've been stable here for several months on pricing, and I firmly believe we'll stay stable for a bit more, and then every so slowly begin to see prices start an up-tick.  But, we won't know that until we're looking in the rear-view mirror, and then.........well then it's too late to wait for the prices to go down a tiny bit.  Buyers need to take into account the whole picture - rates, choices, time, etc., and not just focus on one component.  I think that's the mistake many make in a market like this.

Thanks for commenting!
Ann

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