Resources For Buyers

*  The Long Island Housing Partnership administers down-payment assistance programs.
    Call 631-435-4710

*  For details about a Suffolk County down-payment assistance program and to get on a list to receive the application,
    Call 631-853-5705

*  Community Development Corporation of Long Island offers counseling for first-time homebuyers and information
    about financial assistance.
    Call 631-471-1215

*  Federal Housing Administration loans are available with down payments as low as 3.5% and financed closing costs.
    Call 800-569-4287

*  The State of New York Mortgage Agency offers several programs to help first-time homebuyers get into a home.
    Call 800-382-HOME

Courtesy of Victoria Hurban, CBR, GRI, SFR, SRES
NYS Licensed Associate Broker
Keller Williams Realty of Greater Nassau
631 338 9993

...because your move matters


Posted August 1, 2013

"How to Win a Bidding War" - Wall Street Journal, July 27-28, 2013

Today's bidding wars are being driven by rock-bottom mortgage rates, increased level of investor purchases and an improving economy.  

The pent-up demand to own a home, combined with low inventory levels and rising mortgage rates, have created stiff competition for prospective buyers.

Some tips to consider:

*  Know your market area - review sale prices

*  When it comes to price, be realistic - bid close to your maximum right away

*  At the same time, pick you "walkaway number" - and stick with it

*  Be flexible on other terms - if possible, set yourself apart by being flexible on the closing date, remove contingencies, etc.

*  Get prequalified 

*  Decide what you will do if the home appraisal is below asking price - be prepared to put down more cash to save the deal

*  Position yourself as a backup in case another buyer pulls out

*  Connect with the sellers - write a letter introducing yourself and make a personal appeal