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Few home owners ask this question when considering who to interview to sell their home.  That is until they come accross a Realtor working under a company they have not heard of before.  Then the future home owners get concerned that hiring a Realtor from the wrong company will impact the sale of their home. 

                             Some Things To Consider

• Home buyers don't care who the home is listed with, Just that it is the right home and that the pricing of the home is proper.
• Other Realtors don't care who the home is listed with, Just that they can find it in the MLS, that it is easy to get an appointment, and that the home presents well during showings.
• The Pricing of your home matters a great deal.  Over price it  and nobody…

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What are the real estate markets doing now that we have gone into this period of what the talking heads on CNBC call a credit crunch? 

Interested in what is going on locally?  

In this report you will be able to see the hard numbers for your local New Jersey Real Estate markets.  There have been two additional very popular towns added to the report, Summit NJ, & New Providence NJ.  We hope you find the information in this real estate report interesting and helpful.

Part 11 in the continuing series.

Our local real estate markets continue to be stronger than the national markets which are continually commented on the national news & business news shows.  One thing that has been commented on recently on news shows such as CNBC is that the North East,…

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Among a home's closing costs in New Jersey is a state tax called the Realty Transfer Fee. The tax amount owed is based on the price you are receiving for your home or real estate. 

 

Since 2003, the New Jersey Legislature and Governors have increased this tax by 80% in order to fund government spending.  Many state government officials & legislators now want to increase this tax again. They want to add a local Home / Real Estate Sale Tax provision so that local towns can impose their own tax on home sales. 

 

For homeowners, it means an instant cut in the equity in their home when they sell.  For example, a New Jersey home owner selling a typical home for $600,000 would have to pay $5,185 of the sales proceeds to the state.  If a local tax goes… Read Full Post

  What Are Morris County NJ Home Buyers Looking For??   If they are anything like the home buyers in the National Association Of Realtors® 2007 Profiles Of Buyers Home Feature Preferences, they are looking for the following.   ·        75% of them wanted air conditioning. (In our local New Jersey Markets Central Air has come to be expected) ·        57% of them wanted a garage with 2 or more spaces. (This also has almost become a requirement with most Morris County home buyers) ·        53% of the home buyers said they wanted a walk-in closet. (Most mid-range and higher end home buyers expect this feature unless they are looking at a historic home in places like Chatham or Madison NJ) ·        Hardwood Flooring, & Granite Counter Tops were also… Read Full Post

  Several people have asked me lately about what happens if their mortgage company goes out of business. Here is what you should do no matter if your mortgage company goes out of business or not.  

• Know the terms of your mortgage: no matter what the terms of your mortgage should not change if your loan is sold to someone else, or your lender goes out of business. When a lender sells your mortgage (which happens quite often) you should receive notice from the new company within 15 days, outlining the payment date, and new mailing address or methods for setting up electronic payment.
• No matter what you hear in the news about your mortgage company, keep making your mortgage payments on time and in full. Your loan and the payments you make on it…

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Understanding Mortgage Interest Rates. The Federal Reserve lowered interest rates on Friday August 17,2007 so why are we not seeing lower mortgage interest rates?   There can be a lot of confusion about what the Federal Reserve does and how it affects mortgage interest rates offered by your local lender. On Friday the Federal Reserve lowered the Discount Rate by .50% to 5.75% from 6.25%. This rate is generally 1% higher than the Fed Funds rate, which is still at 5.25%.   The Fed Funds rate is the interest rate charged by banks when lending to each other money. The Fed Discount rate is the interest rates the Federal Reserve charges to lend money to banks and lending institutions as an emergency lender.   Mortgage interest rates that lending… Read Full Post

Generally home buyers these days are looking for a home, which is already fully updated. Especially the many home buyers who are relocating to our local communities from New York City.    Your typical NYC home buyer who is now interested in buying a home in say Chatham or Short Hills is willing to pay for a home which is already tactfully updated. Many of these buyers are unwilling to even consider a home, which needs even minor updates.   What does this mean for home sellers who have homes, which are 20 or more years out of date? Fewer potential buyers for their home, and less money for their home because of this.    This means opportunity for Real Estate Investors.    Here is an example:   I pride myself on being the neighborhood expert for the… Read Full Post

How To Sell Your Home For More Money In Less Time!!   This article is all about what you can do to present your home in the best possible light when you are trying to sell it.   ·        Replace older systems. Old systems are a fear of problems to home buyers ·        If roof is old, replace it. Old roof brings the fear of problems again. ·        Kitchens & Bathrooms sell houses. Clean, declutter, paint, update ·        Drive up appeal; does your home have any? First impressions many times are the only impression you will get with home buyers. Plant flowers, re-mulch the flowerbeds, keep the lawn cut and trimmed, clean (power wash) the front steps, paint the front door. ·        All walls and ceilings which have not been painted in 5 years need to… Read Full Post