mortgages: WHEN AND HOW TO PULL THE CORD ON AN OVERPRICED LISTING?
- 05/20/11 02:09 PM
I try not to get caught in this trap but too many times lately I have gone against my better judgment and spent so much time and energy trying to make deals work that were loaded with red flags and flashing yellow signs when I first took them. My latest attempt was accepting a listing on a beautiful 5 bedroom/4 bath colonial sited on 3 acres surrounded by wooded preserve land. The owners had expanded the house to include a glass-walled In-Law Suite (complete with its own full kitchen) on the lower level. ABSOLUTELY GORGEOUS!! So what's the problem you ask … (14 comments)
mortgages: AFFORDABLE HOUSING AVAILABLE IN FRANKLIN TOWNSHIP, NJ
- 04/10/11 04:02 AM
New two and three bedroom single family homes are now available in Franklin Township, New Jersey. This is part of a redevelopment plan approved by the Township Council and the Township's Redevelopment Agency. Leewood Renaissance developers purchased the property in order to build affordable housing in the area. Home start at $99,990 and flexible mortgage arrangements are available for qualified buyers. All of the homes are Energy Star certified. … (0 comments)
mortgages: LUXURY HOMEOWNERS ARE NOT IMMUNE TO SHORT SALES
- 10/20/09 10:31 AM
Stats are finally supporting what we Realtors have been experiencing in the field -- the current housing crunch is affecting the luxury housing market. Tougher mortgage/loan requirements and higher interest rates for jumbo loans than for conforming loans caused sales of luxury properties to slow starting in the fourth quarter of last year and the trend has continued into 2009. As a result, the national inventory level of homes priced above $750,000 rose from 18 months worth in 2007 to 41 months worth by this past summer. The National Association of Realtors also reported that as of October 2008, the foreclosure rate on jumbo loans was … (2 comments)
mortgages: MORTGAGE CRUNCH FOR HOME BUILDERS
- 09/30/09 01:41 AM
This report (if true) should raise concern: In the latest National Association of Home Builders(NAHB) survey of acquistion, development and construction (AD&C) financing conditions, 63% of builders stated that the availability of credit for single-family construction loans worsened in the second quarter of 2009. Builders reporting deteriorating credit conditions cited the following reasons: 80% said that lenders are lowering the allowable loan-to-value ratio, 76% reported that lenders are not making new loans, 75% stated that lenders are reducing the amount they are willing to lend and 62% said that lenders are requiring personal guarantees or collateral not related to the project. Two-thirds of … (0 comments)
mortgages: ADDITIONAL HELP FOR FIRST TIME HOMEBUYERS IN NEW JERSEY
- 04/18/09 12:27 AM
I have talked to several first time buyers who have good credit and want to take advantage of the $8,000 stimulus credit but just don't have the money available for the closing costs. This sounds like a fantastic way to boost our service as a real estate professional by informing them of this program. GLORIA LAUGHTON ALLSTON, SRES BURGDORFF ERA NJHMFA Offers Cash Advance for First-time Buyers The New Jersey Housing Mortgage Finance Agency (NJHMFA) is offering cash payments of up to $5,000 for qualified first-time home buyers to help defray closing costs or satisfy down payment requirements and help new … (0 comments)
mortgages: CHECK OUT THE NEW AND IMPROVED FHA MORTGAGE
- 03/12/09 11:57 AM
I just attended a briefing session conducted by ERA Home Mortgage on the changes to FHA Mortgages and I have to say that I am impressed. FHA has streamlined its process to the point where it can now effectively compete with conventional mortgages. BRING ON THOSE FIRST TIME HOME BUYERS!! Gloria Laughton Allston, SRES, Burgdorff ERA Realtors, Princton, NJ
I try not to get caught in this trap but too many times lately I have gone against my better judgment and spent so much time and energy trying to make deals work that were loaded with red flags and flashing yellow signs when I first took them.
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