Loading ...Not Another Craigslist Real Estate Rental Scam
There was a time when addresses where not placed on listings of homes for sale or on rentals when advertised on various websites. Those days are long gone with a number of big name real estate search engines or real estate websites featuring property addresses on both homes for sale and rental listings.
Just recently my listing was “spoofed” by someone on manipulting Craigslist. I wrote about a popular blog post on examples of real estate scamon Craigslist in the past, but what I experienced today is a first for me.
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5 Year Real Estate Report of Union NJ
The problem with forecasting the real estate market in any town or city in NJ is that we rely on the past to show us what the future may hold. Yes, I know real estate is all about cycles, but the most recent past has had several government subsidies, programs or incentives to prevent the housing bubble from popping.
Click here for the 5 Year Market Overview for Union NJ
The reality is that no one person can tell you with any certainty what the market will be like in the near future. No one person can tell you that the real estate market will be better or worse (at least no one smart enough to take on such a heavy burden).
Although, a number of websites and so called real estate experts or gurus will make “predictions” about the future of the real estate market. Having been a active real estate sales agent in Union, NJ and other local markets for the past 5 years, I can identify same trends in the real estate market place and specifically the Union NJ market place.
The following article will detailed my predictions for the Union NJ real estate market and answer some of the common questions buyers and sellers have when it comes to buying or selling in Union, NJ.
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Top 10 WordPress Plugins for Real Estate Agents
If you are a Tech Savvy Agent in the real estate sales business today, you know and understand how important it is to establish your Internet presence. As I am typing this, in the back of my mind, I can hear my broker saying. . . .”90% of all _____________ start their home search ______________” as he’s trying to sell me on the importance of buying the agent centric company branded website. It’s one of those sayings that sticks to you since you’ve more than likely heard it (understatement alert) a few times. The beauty of it all is that you don’t have to buy into the idea “I need a website, now.” You can create your very own website over time using what happens to be the one Blogging platform in the world: WordPress.org.
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A Seller’s Recipe for Success
Fresh (Good) pictures, accessibility to the property, the right price is the best recipe for seller success.
Pictures are worth a $1000 dollars. Houses like people have their good picture taking days and their bad days. I have shown a number of houses that almost didn’t get any “buyer love” because of bad pictures. Before inviting me in to take a snapshot, think IKEA: I Keep Excellent Accommodations in showroom condition.
What is the real secret to IKEA’s success? They are a concept company. They sell the idea of what could be and when you are selling your home, you are essentially selling a dream, a idea of what could be. Many sellers make the assumption that their house is in great, livable condition. Some sellers say. “If I can live here like this, so will others.” Not True. In fact, we recommend that you follow the following top 3 tips to home selling your home. Home Selling success lies in your hands!
A Seller’s Recipe for SuccessWhen should you refinance?
Refinancing your home can be an excellent way to bring down your monthly mortgage payment, raise cash, or consolidate debts with high interest rates. However, you need to do your homework before deciding to refinance. One important factor is the difference between current interest rates and the rate of your original loan. You also need to take into account the amount of time it will take to recoup the costs of refinancing.
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Purchasing Power First Time Home Buyer Advice
How to Determine Your Home Buying Purchasing Power
Understanding how much house you can afford is the first step when it comes to buying a home. Determining your purchasing power is something you should do even before you start looking at potential houses. Depending on your individual situation, your budget can affect everything from the neighborhoods where you look, to the size of the house, and even what type of financing you choose.
Bear in mind, however, that lenders will look at more than just your income to determine the size of the loan. Likewise, you may find that there are some creative financing options that can help boost your home buying purchasing power.
Loan prequalification vs. preapproval
One of the best ways to determine your budget is to have your real estate agent or lender pre qualify you for a loan. Prequalification is different from preapproval, because it is only an estimate of what you’ll be able to afford. On the other hand, preapproval is a more formal process where a lender examines your finances and agrees in advance to loan you money up to a specified amount.
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Not all Buyers Are Thrilled to Have the Closing Date Extension
Immediately after hearing the news of the senate’s intention to extend the closing date of the expiring home buyer tax credit from June 30, 2010 to September 30, 2010, njretoday.com, received an flood of emails from angry buyers who were in the market back in April 2010, but through no fault of their own, were unable to get under contract. “It just isn’t fair,” said one NJ Home Buyer. “I was in the market for six months and it just so happens that I finally found the house that I wanted buy after April 30th. Man, that sucks. I hope NJ passes the income tax credit. That would be a tremendous help to me.”
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Extending the tax credit deadline September 2010
[Update June 2010] Possible September 2010 Extension to Home Buyer Credit as Builders and Home Owners Struggle to Complete Home Transactions by June 30 2010 Tax Credit Deadline From Investtosave.com
Construction crews are working around the clock to meet tight deadlines to finish houses by the end of June so purchasers can get a federal home buyer tax credit of as much as $8,000. Home buyers are similarly anxious to get settlement on an existing house or the keys to the new home before the credit expiry date. To qualify, home buyers had to sign a contract by April 30 (intention to buy) and must complete the transaction by July 1st (June 30 is the last eligible day). To complete a newly constructed home sale, builders in most of the U.S. are required to have a certificate of occupancy from local officials attesting the house is finished or at least conforms to building codes. Mortgage lenders usually require the document before closing on a loan.
Push to extend closing to September 30th 2010
With all the hoopla around claiming the credit and a strong push from various realtor groups, Bloomberg reports that Senate Majority Leader Harry Reid proposed a three-month deadline extension amid concern that a rush of buyers created too big of a backlog. New-home contracts rose 30 percent in March and 15 percent in April, the biggest two-month gain in records dating to 1963, according to the Commerce Department. About a third of the April signings were for homes under construction, and a quarter were for those that weren’t started. The National Association of Realtors asked members of Congress to consider extending the tax credit deadline to allow people more time to complete sales, said Lucien Salvant, head of public affairs for the Chicago-based trade group.
Two other Senators, D-Nev., and Sens. Johnny Isakson, R-Ga., and Chris Dodd, D-Conn, also supported an extension the to present home-buyer tax credit closing deadline to Sept. 30. The measure was offered as an amendment to H.R. 4213, a tax extension bill now in the Senate.
Extending the tax credit deadline September 2010Paying Points on a Mortgage Loan in Plain English
When it comes to comparing interest rates for a mortgage loan, homebuyers often have the option of choosing a loan with a lower interest rate by paying points. Simply put, a point is equal to 1 percent of the loan amount. For example, with a $100,000 loan, one point equals $1,000. Points are usually paid out-of-pocket by the buyer at closing.
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After Tax Credit News-NJ Considers New Income Tax Credit of $15,000
State legislators recently began considering a law that would give buyers an income tax credit worth $15,000 or 5 percent of the home purchase price, whichever is less. The state Assembly approved that measure late last month. If it is passed, the credit would be distributed over a 3 year period on a 1st-come, 1st-serve basis. Under the proposal, $75 million of the credit is reserved for new construction while $25 million is set aside for buyers of existing homes.
Jeffrey Otteau, president of the Otteau Valuation Group, said about a fourth fewer buyers signed contracts for real estate in the state last month compared to a year ago.
“We had a full year of improvement in housing, so that means that today’s buyers, (potential homeowners) can’t get the same deals they could get six months ago,” Otteau said. “What buyers are saying is that the economy isn’t good enough for me to go forward without a tax credit.”
After Tax Credit News-NJ Considers New Income Tax Credit of $15,000