Consider using a Wholesale Mortgage Banker for your mortgage this Spring. Why? Wholesale Mortgage Bankers have access to two distinct sources of mortgage money: Secondary Market: This source of capital comes from investors that invest in mortgage backed securities. Loans are originated then sold to Wall Street banks, bundled into mortgage backed securities and sold. If a particular loan fits within...
Buying a Home in NJ
Union County, New Jersey is quite diverse in terms of real estate prices, communities and property size. While we saw a bit of a dip in average home sale prices in January 2008, a recent surge in new homes on the market...point us to a more positive outlook for Spring. If you are thinking of moving to Summit or Springfield, New Jersey please contact Perri K. Feldman at 973.650.4727 or Search the Garden...
As expected, average sales prices continue to rise in Millburn/Short Hills and Montclair with sustaining prices in the remainder of Essex County. All indications are that entry level homes ($400,000-$600,000) in these communities will benefit from falling interest rates...thus stimulating growth as we enter the key spring selling season. To find homes for sale in Essex County search Midtown Direct...
The Midtown Direct Train line had a positive effect on January 2008 home sale prices in Morris County As commuters were willing to add an additional twenty minutes onto their travel time, the benefit of lower taxes and larger lot sizes became much more appealing...keeping average sale price growth steady in Morris County, New Jersey. If you are looking for a new home in the Morris County New Jersey...
Happy Valentine's Day!!! To everyone looking for a new kitchen and bedrooms and bathrooms and new homes in New Jersey!!! NJRealEstateWire Invites You to Search Here For Your New Home in NJ Through The Garden State MLS FOR...
Every couple of months I get this email about New Jersey "truisms" that this Jersey Girl can appreciate...so I thought I would share it with you. This latest email came from Debbi out of Blaine, Minnesota from my Millburn High School graduating class (way back when.) Facts about NJ If you've ever lived in Jersey...you'll appreciate this!!! New Jersey is a peninsula. Highlands, New Jersey has the...
Most people don't realize that Chatham, New Jersey is made up of Chatham Township and Chatham Borough. Chatham Borough is closer to downtown Chatham shopping and the Midtown Direct Train to NYC. Chatham Township is further from downtown with larger homes and corresponding prices. ...
There was nothing average about Summit New Jersey Real Estate in 2007 based on the figures from the Garden State MLS: In 2007, more homes were sold, at higher prices than the year before...but, it took a little longer: Average Sale Price was up 11% Number of Homes Listed was up 4% Highest Price Home Sold was up by $2,000,000 What does this mean for...
Sales of Homes in Madison, New Jersey remained strong in 2007 as you can see. Madison has seen quite a bit of new construction in the Hill and Dellwood Sections ($2.0 mill +), bringing up the average price of homes in town. The strength of Madison schools, the exciting downtown and its place on the Midtown Direct Train line all help to keep Madison as one of the premier towns to live in New...
Tuesday, January 22, 2008 Fed Lowered Interest Rates and New Jersey Home Buyers May Benefit Steve Lupton of Metrocities Mortgage Sent Me the Following Alert I Wanted to Share: NEWS ALERT!!!! 1. Today, the Fed lowered both the Fed Funds Rate and the Discount Rate by 75 basis points. This unusually aggressive move is an acknowledgement that equity and credit market issues are threatening growth in...
Another First Time Home Buyer Disaster Please Dont Let This Happen to You Janis Gagliardi, a real estate expert in Port Orange Florida, shared this DISASTER story of a First Time Buyer in her PortOrangeJuice. Anyone, Anywhere in the country buying their first home should follow her advice: €œWe searched and found a beautiful home for a young couple a few months back and successful negotiated and went...
Zillow does it again...maybe. Just read this post on Future of Real Estate Marketing about Zillow. "The launch of their new Smart Search functionality tells you exactly how many listings the company has in its database, from a top level State search right down in to individual neighborhoods. Its kind of fun surfing around the country (zoom out to the USA level on their map) and seeing whats out there...
Wells Fargo is tightening the guidelines on a regular basis. You may not be in a distressed area but the guidelines are much tighter then 6 months ago and far tighter versus a year ago. Wells Fargo has increased the FICO requirement on jumbo loans from 620 to now a minimum score of 680. The max DTI went from 50% down to 45%. I know Wells Fargo is usually the front runner in jumbo pricing so if you are...
Just came across this article from CNN:Money.com that helps to explain the subprime freeze plan on interest rates €“ it looks like the majority of the people out there in this situation may not qualify for the assistance they so desperately need. Your buyers are sure to appreciate this insight The new foreclosure prevention program may leave out most distressed subprime borrowers. //...
For many Americans, the purchase of a home is the single largest investment they will ever make. Home-ownership is an integral part of the American dream, yet like anything else, purchasing a home comes with certain risks. Homeowners insurance and flood insurance help protect you from loss or damage due to theft, fire, or acts of nature. But what if your ownership itself was challenged? Title...
The New York City Real Estate market is thriving and homes along the Midtown Direct Train line and the 78/24 and 280 corridors are benefiting from it. Buyers shut out of the NYC market are coming to New Jersey taking advantage of well priced homes. Below are the November (11/1/2007--11/30/2007) closed sales of single family homes provided by the Garden State MLS. NOVEMBER 2007 HOME...
Congratulations!!! You just placed a bid on a home in NJ over $1,000,000, and the seller agreed to your price!!! Did you know that you will owe the State of New Jersey 1% of the total purchase price for any property purchased with a sales price of $1,000,000 or higher? Welcome to the NJ Buyer's Mansion Tax. The fee is paid to the County Clerk where the property is located. Both residential and...
OPEN HOUSE SUNDAY November 4th, 1€“4pm 33StephanieDrive.com Wow!!! Only $1,185,000 Over one acre and a half mile to the NYC train. Twenty Minutes to Newark Airport. Great Schools. Wonderful Community. Stirling, NJ. A great place to live. Located on a quite cul-de-sac in the Autumn Crest section of Stirling, this spectacular 6900 sf * Colonial home boasts 16 rooms including 6 bdrms, 4 full baths, and...
Throughout the Spring and Fall in Essex, Morris & Union Counties...Jersey Fresh Foods Abound at local Farmer's Markets. Pick your day and enjoy the Goodies!!! I am in love with Gina's Bakery & Dr. Pickle. Sunday Summit Farmers MarketJune-October8:30AM-1:30PMDeForest AvenueBetween Summit & Maple StreetSummit, NJ 07901 Monday East Hanover Farmers...
Hot New Jersey Real Estate Markets…Think LOCAL! I just had to share a piece from Keller Williams Realty International: TOP STORY: Gary Keller: The only market that matters is yours! Last week on the Today Show, during a segment on the national real estate market, CNBC’s Jim Kramer uncompromisingly stated, “now is the absolute worst time to buy!” Concerned that remarks such...
Wow!!! I just received this letter from the Millburn Parent Teacher Organization (PTO) written by the Superintendent of Millburn Schools: "Please see the letter I received from Dr. Brodow this morning. Congratulations to Dr. Niegel, Mr. Miron, Dr. Brodow and the entire faculty, staff and student body for all of their hard work." €œIm pleased and proud to let you know that this morning the United...
I love living in Short Hills, an area of Millburn Township. Not only did I grow up here, but I'm also raising my kids here. They are currently in Millburn High School. Buyers new to the area are always asking me why the town is so great...here are the Top Ten reasons: 1. Commuting to NYC. You can be at Penn Station within 41 minutes on an Express Train from Short Hills or...