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Rochester's Best Home Buying Advice From Hourihane, Cormier, and Associates

By S. Mathur

Rochester NH is currently undergoing a technology boom, which also means good news on the real estate front. Patrick Hourihane, Partner in the real estate firm of Hourihane, Cormier, and Associates (HCA), says that "The current real estate market in Rochester is very active. The inventory of homes is lower than in some recent years but continues to offer the typical home buyer a good choice of alternatives in nearly all price ranges."

The current period of industrial growth in the area began a while ago with the computer routing and network cabling business Cabletron Systems setting up shop in Rochester. More recent additions are Albany International and Safran Industries, manufacturing specialty woven materials for the aerospace industry. This growth is expected to continue, says Hourihane, with the new Granite Ridge Shopping Mall on Route 11 providing continuing economic stimulus.

For first time home buyers, he adds, "Rochester offers the perfect combination of low prices compared to most other Seacoast communities coupled with today's very low interest rates. These are the perfect conditions for those hoping to become homeowners."

What about those who have less than stellar credit, a common situation these days? Hourihane believes that the ability to qualify for a mortgage depends on each specific situation: "Generally we're not directly involved with mortgage approvals and credit worthiness, but my advice is to speak with a local lender early on to get the best credit advice for your specific situation. Many times it is recommended that the client move forward with a credit restoration program, depending on the extent of credit problems, we've seen this boost credit scores over 100 points in as little as 6 months."

Since credit is more widely available than it has been for the past few years, he says that "I'm aware of at least one recent client that successfully obtained a home mortgage with a credit score of just over 580." Each specific case is different, and advice should be tailored to each particular situation.

HCA handles real estate in all of New Hampshire as well as the neighboring states of Massachusetts and Maine. They also help home owners who are looking to sell their houses, which can be a difficult task in a buyers' market. It helps that the firm had been around, in different forms, for fifty years, and understands the real estate market. Customer testimonials speak to their professionalism and dedication. Not surprisingly, they have been named the Best Realtors in the Area for the past 11 years.

From the beginning, HCA has been involved with the community and charitable causes like the Boy Scouts, local hospitals, environmental groups, animal rescue and Toys for Tots. They also support the Opera House and the School Board. Professionally, HCA is associated with the Rochester Chamber of Commerce, the City Council, the Rochester Economic Development Commission, Planning Board and the Rochester Housing Authority Commission.

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