Freddie's Blog

Selling Your Plainsboro NJ Home - Curb Appeal of the 21st Century and Beyond

Freddie Moorer (Weichert Realtors) — Tue, 09 Feb 2010 10:48:32 -0800

I can hear you now, "Oh, no! Not another article on curb appeal to sell my Plainsboro NJ home!" To which I reply, "Oh, yes." One more time around the block, but this time, we're doing it in style.

The 21^st Century Curb

Curb appeal is that thing you do to pretty up the outside of your Plainsboro NJ home. It's the landscaping, the painting and the checking of the little details. However, many home sellers (and real estate agents, for that matter), don't take into account that the curb nowadays isn't just the view from the front of your house. In the 21^st century, the "curb" starts right here on the Net.

Your online home listing has only three seconds - three short moments of time - to catch a potential buyer's eye and turn them into an interested party. Unfortunately, it's hard not to be biased or become used to the problems and eyesores your home may have. Because first impressions are so crucial and the housing market is glutted with competition, you have to bring it up a notch to get your home sold. read more http://www.freddiemoorer.com/plainsboro-homes/id30.html

Green Building Still Running High for New Jersey Homes

Freddie Moorer (Weichert Realtors) — Tue, 26 Jan 2010 12:36:07 -0800

At the beginning of 2008, it was predicted that green national and New Jersey homes would not only become a steady trend, but would also become the nationwide norm. As the home building industry struggled with economic upheaval, the building of green homes was one sector that kept growing.

Energy Star Designations

As of December, 2009, over 1 million homes have received the Energy Star designation since the program's inception in 1995. Despite the many foreclosures, the glutted housing market and drowning homeowners, 75,000 more homes gained the Energy Star designation in 2009, raising the numbers to 1,024,200.

In 2007, 12% of single-family homes in the U.S. were Energy Star homes. In 2008, the numbers had reached 17%. Although the reports have yet to come in for 2009, there's no doubt the numbers are increasing.

Two Other Green Home Certifications

Energy Star isn't the only one with a green program; the U.S. Green Building Council (USGBC) also has a green home certification program. The number of participating homes is small (3,050 by the end of '09), but noteworthy.

The National Association of Home Builders Research Center (NAHB) provides the National Green Building Certification, with over 500 participants.

The need for green national and New Jersey homes is, admittedly, consumer driven. Homebuyers want energy efficient homes - whether those homes are newly constructed or remodeled - and are willing to pay for them. Yes, the cost is higher, but most expect to make back the money spent on the house through future energy savings.

As we move forward in 2010, keep green in mind because energy efficient New Jersey homes are in high demand. If you're trying to sell your home and can't get it off the market, consider renovation towards a greener world.

If you're trying to sell your home or find a green home to buy, I can help. Call me today at 732-247-7800 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Energy Star designation

http://www.energystar.gov/index.cfm?c=home_improvement.hm_improvement_hpwes

Green home certification program

http://www.usgbc.org/DisplayPage.aspx?CMSPageID=147

Energy efficient homes

http://www.green-energy-efficient-homes.com/

Costs for Newly Constructed Homes for Sale in New Jersey May Rise

Freddie Moorer (Weichert Realtors) — Wed, 20 Jan 2010 09:57:08 -0800

Not too long ago the "Greening of America" was just an idea. Now, it's a government mandate. The latest requirements for new construction may just cause the cost of new homes for sale in New Jersey and around the nation to rise.

In December, the Environmental Protection Agency (EPA) announced new stormwater management requirements for new construction. These new requirements have the National Home Builder's Association (NAHB) up in arms. In a news release posted on the NAHB website, the Chairman said the new housing regulations are unrealistic.

It all comes down to stormwater. When it rains, water hits the ground and seeps into it. In most cases, that water is absorbed and filtered by the ground, and then replenishes the world's water supply. Not so in developed areas, where pavement and roofing, among other man-made surfaces, prevent the water from being absorbed.

The remaining water becomes runoff, which, according to the EPA, damages the infrastructure of surrounding development, causes downstream flooding and bank erosion. In addition, the water carries pollutants, which are carried into streams and water supplies. The new regulations have a strict limit on pollutants in stormwater, as well as requiring that the stormwater has little to no soil or sediment in it.

While less pollution is a fantastic idea, NAHB says something is missing - such as understanding soil differences. Certain types of soil absorb water better, reducing the amount of run off, while other types of soil produce a naturally high amount of sediment. The cost for homebuilders to meet these regulations can be expensive - an expense that will be passed on to those looking for newly built homes for sale in New Jersey.

The EPA has done some wonderful things for environmental protection, such as the Clean Air Act (CAA) and the Resource Conservation and Recovery Act (RCRA), that already affect construction costs. However, for newly built homes for sale in New Jersey, this new stormwater requirement may end up not only being impossible to keep but impossible to pay for.

If you're looking for new home construction that meets all necessary requirements, I can help. Call me today at 732-247-7800 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

New storm water management requirements for new construction

http://www.epa.gov/oaintrnt/stormwater/index.htm

new housing regulations are unrealistic

http://www.nahb.org/news_details.aspx?sectionID=148&newsID=10074

Resource Conservation and Recovery Act

http://www.epa.gov/lawsregs/laws/rcra.html

Can Your Piscataway Home for Sale Beat the Rising Cometition

Freddie Moorer (Weichert Realtors) — Wed, 13 Jan 2010 13:54:53 -0800

Any time supply is bigger than demand, businesses start looking for a way to set themselves apart from the competition. If you have a Piscataway home for sale, you're probably doing the same thing. What is the competition like, though? Are you looking for similar houses, similar neighborhoods - or is the competition nation wide? By paying attention to homes that are selling nationwide, you can find out a lot about what buyers want.

Once again, CNN Money published their "Top 100 Best Places to Live" for 2009. If your Piscataway home for sale is in a place similar to the Top 10, you just might have a much better chance at selling, especially if you market those positive attributes. Here are just a few of the things these places have in common:

Small towns: Whether a place is small or not is always relative. For instance, someone who lives in a town with less than 3,000 people would think Bryant, Arizona, with a population of almost 15,000 was a big place. However, the Top 100 list points the way; the population numbers range from 8,000 to 50,000. If your home is in a low population area, this could be a great selling point.

Robust, needed industries: High-tech industries, energy services and health care are just a few sectors that haven't been hit as hard by the recession. These industries will be needed for years to come, and the demand for trained workers is higher in areas with these industrial sectors than in others. If your home is located in an area with lower than average unemployment, brag about it!

Low crime rates: For most, if not all of the top 100 places, crime is low, if not almost nonexistent. For instance, Papillion, New England has around 22,000 people. They also have less than one personal crime per 1,000 people. If you aren't sure what the crime rate is around your home, check! Low crime rates are an excellent selling point; one that you could be missing out on.

Education: Education has always been important to most people - a fact that is clear with the Top 100 list. The list averages 20 universities or professional schools within 30 miles, and over 71% of the population per place has had some college. Do you have great universities? Do you live in a highly educated community? It may not seem like a big deal to you, but it will to the buyer.

From population demographics to the number of recreational activities available, everything goes into making your Piscataway home for sale attractive to buyers. Do the research and find out what makes your area special.

If you're trying to find your home's selling points, I can help. Call me at 732-247-7800 ext 182 or email me at freddie@freddiemoorer.com for more information.

Top 100 Best Places to Live

http://money.cnn.com/magazines/moneymag/bplive/2009/top100/

your home is in a low population area

http://www.city-data.com/

crime rate is around your home

http://www.clrsearch.com/RSS/DidYouMeanSearch.jsp?type=community

Buy Your Valentine One of the Piscataway New Jersey Foreclosures

Freddie Moorer (Weichert Realtors) — Mon, 11 Jan 2010 09:13:46 -0800

Valentine's Day is just around the corner. Are you wondering what to get your loved one? Buying Piscataway New Jersey foreclosures may not be on the top of your list, but maybe it should be. Do you need some extra room? Is it time to spread out? Are you a repeat buyer?

You've probably heard the term "buyer's market" more often than you care to, but if you want to expand your living quarters, you might want to pay attention.

What is a buyer's market?

The typical reply might be something like, "A buyer's market is where the supply is greater than the demand; the heavier the supply, the stronger the buyer's market." What you really need to know is that a buyer's market is heavily tipped in your favor. Mortgage rates, housing supply and negotiations are all pointed towards helping you find - and buy - the home of your dreams.

What's so great about buying Piscataway New Jersey foreclosures or other homes for sale now?

Whether you're a first-time buyer or currently own a home and want to upgrade, there are plenty of reasons to get into the action now:

Home prices are lower than they've been in 12 years.
Foreclosures are going for rock-bottom prices as lenders try to make up their losses.
The number of programs to help buyers get into a new home is higher than it's ever been.
Between government programs, lenders' programs and private programs, the chances of getting into a home you can afford are high.
Many sellers are eager to find qualified buyers. If you've been pre-approved for a mortgage, you have a better stance in negotiations.
Mortgage rates are lower than they've been in a long time, but are slowly starting to rise again.

These are just a few of the reasons.

Why buy foreclosures?

Foreclosures are selling at much lower prices than other homes. In fact, many expect to save at least 30% when buying foreclosed property and that percentage isn't unrealistic.

If you've been trying to figure out what to buy your Valentine, and you've been thinking about buying a home, look around at Piscataway New Jersey foreclosures. Not only can you find a fantastic deal, but you'll also be able to celebrate Valentine's Day in a new home!

Links:

programs to help buyers

http://www.hud.gov/buying/localbuying.cfm

Mortgage rates are lower

http://online.wsj.com/article/SB10001424052748704193004574588240879737018.html?mod=WSJ_hpp_sections_realestate

Benefits of Exterior Lighting for Sayreville New Jersey Real Estate

Freddie Moorer (Weichert Realtors) — Wed, 06 Jan 2010 13:54:40 -0800

As many Sayreville New Jersey real estate agents will tell you, curb appeal shouldn't end when the sun goes down. Exterior lighting can be both utilitarian and create a welcoming atmosphere even at night. The huge variety in lighting types will also lend uniqueness to your property and make it stand out to potential buyers.

Benefits of Popular Lighting Types

Reduces crime: Motion-activated flood lights on the front and back porch are essential in high-crime areas and always a good idea for any area. It's been proven that criminals don't like Sayreville New Jersey real estate with bright exterior lighting. The bright lights will draw attention to visitors before they've ever reached your door. Additionally, you should never discount the value of being able to see clearly when arriving home in the dark.

Decreases trip hazards: Solar lamps make beautiful walkway lighting. They're generally not bright enough to be obtrusive or attract many nocturnal insects, but they will show the exact location of a walkway and reveal any trip hazards on the way. Solar lamps also provide an additional selling point on which Sayreville New Jersey real estate agents can capitalize.

Improves safety: Good garage lighting can help you find your way to and from your vehicle. More importantly, the garage is a potentially hazardous area. Good lighting ensures that anyone walking through or working in the area will have a clear view of their surroundings and the task they may be performing.

Relocates bugs: In rural areas, a high outside light (similar to a street light) not only lights large areas enough to recognize any hazards, they can also draw nocturnal insects away from lights emanating from the home. Moths and other insects often plague rural residents as they like to fly into houses from any open door or window.

Want me tips like this? Subscribe to this blog to receive free homeowner tips in your email inbox once or twice a week. Email me Freddie@freddiemoorer.com

Curb appeal:

http://www.hgtv.com/curb-appeal/show/index.html

Walkway lighting:

http://articles.directorym.com/Walkway_Lights-a968310.html

Nocturnal insects:

http://dev.pestworld.com/Press-Releases/A-CHILL-IS-IN-THE-AIR-ARE-PESTS-IN-YOUR-HOME

2010 Forecasts for National and Sayreville & Piscataway New Jersey Real Estate Are In!

Freddie Moorer (Weichert Realtors) — Mon, 04 Jan 2010 09:35:26 -0800

From national and Sayreville & Piscataway New Jersey real estate to the U.S. economy, the predictions for 2010 are in. Like any predictions, they vary from somewhat bright and cheery to doom and gloom:

CNBC's Realty Check predicts:

•· the beginning of a housing market recovery mid-year

•· higher foreclosure inventory

•· rising mortgage rates, probably leveling off around six percent.

•· suffering commercial real estate

The National Association of REALTORS®' (NAR) chief economist is projecting:

•· A sustainable recovery. The tax credit expansion will help to relieve extra housing supply through mid-2010.

•· A rise in existing home sales. The NAR is expecting existing home sales to rise as high as 5.69 million, even with continuing unemployment issues. That's a 13.6 percent increase.

In fact, the U.S. forecasts for national and Sayreville & Piscataway New Jersey real estate are overall positive for 2010.

Housing Predictor, one of the first places to predict the wave of foreclosures, also forecasts positive numbers for 2010. They anticipate rising home sales, market improvement and even value appreciation for some places. Again, the magic period for the start of stabilization is the middle of the year.

Although no one knows for certain what will happen in the future - especially for such struggling sectors as national and Sayreville & Piscataway New Jersey real estate - we can all gain a little hope from the 2010 forecasts. There is one thing that is fairly well agreed upon according to these predictions: there will be a real estate recovery in 2010.

If you're struggling to sell your home, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Realty Check

http://www.cnbc.com/id/34110130

Existing home sales

http://www.realtor.org/press_room/news_releases/2009/11/hopeful_leading

Housing Predictor

http://www.housingpredictor.com/better.html

Sprucing Up Your Home for Sale in Piscataway & Sayreville New Jersey? Pay Attention to the Permits

Freddie Moorer (Weichert Realtors) — Wed, 30 Dec 2009 08:48:32 -0800

A lot of owners who have their homes for sale in Piscataway & Sayreville New Jersey are taking advantage of the remodeling sales going on around the nation. From tools and building supplies to the remodeling agencies themselves, they're finding they can save money.

Unfortunately, a lot of homeowners are also choosing to forego the legal building permit process, trying to further save money.

Every building, occupied or unoccupied, has a set of building codes. Any changes that you make to your home must comply with those building codes, which means most home improvements, whether done by you or by a professional you hire, needs a permit. Depending on your locality, the home improvement that requires a permit could be as simple as installing a water heater.

Hire Someone to Get the Permit

The National Association of the Remodeling Industry (NARI) says hiring a contractor can actually save you money and time, even if all they do is handle the permit process. They also warn that a contractor that expects you to handle the permits is a contractor you don't want to use.

Get the Permit Yourself

So how do you get a home improvement permit if you're doing your own remodeling for your home for sale in Piscataway & Sayreville New Jersey? Submit a building plan for big projects or a description of the work for smaller projects. The plans are approved for a fee (if they comply with building codes). Building inspectors will look over the job while it's in progress, after it's finished or both, and make sure you used the right materials and techniques.

Cost of Not Getting a Permit

It may sound like a lot of trouble to go through, but the cost of not getting a permit can be a lot worse. For instance, if a potential buyer hires a home inspector to look over your property, the home inspector may see signs of your remodeling. They might then look for the permit record. Without one, you could lose the deal.

As well, home appraisers may look for permit records to see if a remodel changed the property value. If the work wasn't covered by a permit, there's a very real possibility of the escrow not going through.

If illegal home improvement is found, you might end up paying hefty fees for further inspections. You might even have to tear down sheet rock inside the house so framing, insulation and other interior work can be seen. In addition, you might have to tear out what you've done just so you can legalize the work and sell the home.

If you have a home for sale in Piscataway & Sayreville New Jersey and are thinking about sprucing it up to attract more buyers, a word of caution. Don't skimp on the permits!

If you're ready to sell your home, I can help. Call me now at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

National Association of the Remodeling Industry

http://www.nari.org/

Get a home improvement permit

http://blog.mortgage101.com/2008/04/18/getting-a-home-improvement-permit/

Home appraisers

http://www.ehow.com/how_2187046_six-critical-questions-must-ask.html

Keep Your Piscataway & Sayreville New Jersey Home Clean the Green Way

Freddie Moorer (Weichert Realtors) — Mon, 28 Dec 2009 09:14:40 -0800

Lots of people think about ways to save the environment in a physical manner such as changing light bulbs from incandescent to florescent and recycling, but many drop the ball when it comes to cleaning their Piscataway & Sayreville New Jersey home. Keeping your home clean in a way that is healthy to you, your family, and the environment just takes a little extra thought and soon becomes second nature.

Danger, Danger

Get rid of any products under your sink, in your bathroom, or your cleaning closet that have danger cautions. If they are bad for you, they are probably bad for the environment too, and why have such hazardous materials in your Piscataway & Sayreville New Jersey home?

Labels that have cautions such as poison, hazard, and danger on them are not only bad to have around small children, the toxins leak into the air when you use them causing health problems for your family. They also leech into the environment when you use them and are hazardous for the environment.

Re-usable and Natural

Buy mop heads and sponges made from natural materials that are bio-degradable and replenishable. Check for recycled materials labels on paper towels, toilet paper, and other disposable objects so that you know those products are making the best use of production materials.

Conserve

Use as little water as possible when doing dishes by turning off the faucet while you are washing and only using running water when you are ready to rinse. Don't just think about conservation when cleaning your home. Turn off the faucet while you are brushing your teeth as well for extra savings. Remove your shoes or put a rug by the entry doors of your home to help cut down the need to wash floors.

Bring in the Green

Bring nature into your Piscataway & Sayreville New Jersey home in the form of hanging and potted plants. Plants clean the air around you and take in harmful carbon dioxide in the air.

Want top buy a clean, green home? Let me help. Contact me today at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com.

Keyword/Tag: Piscataway & Sayreville New Jersey home

LINKS:

Keeping your home clean: http://www.associatedcontent.com/article/278826/how_to_keep_your_house_clean_in_20.html?cat=7

Cleaning your home: http://www.cnn.com/2007/LIVING/homestyle/07/27/wlb.rs.clean.plan/index.html

Hanging and potted plants: http://www.ehow.com/how_16881_grow-hanging-plants.html

Your Sayreville & Piscataway New Jersey Home: Have an Eco-Friendly Holiday!

Freddie Moorer (Weichert Realtors) — Tue, 22 Dec 2009 12:48:46 -0800

Yes, it's time for the Holidays again, which means it's time to decorate your Sayreville & Piscataway New Jersey home. If you're big on recycling, use eco-friendly products and try to keep your carbon footprint on a low scale, you may be trying to figure out how you can make your Holidays a blast without stepping away from your ideals.

Here are a few tips to help you get your Sayreville & Piscataway New Jersey home decorated in eco-friendly style!

Tips for an Eco-Friendly Holiday:

Instead of buying wrapping paper, buy decorative wooden boxes, tin boxes, cloth bags or other eco-friendly packaging to hold your presents. You can get any of these with Holiday themes, most won't get thrown away for years and, when they finally do fall apart, they're biodegradable.

If you do use wrapping paper, save the paper and reuse it next year: recycling at its best!

Buy a real tree instead of a fake one and find an organization to plant one in its place. Once Christmas is over, you can have the Christmas tree recycled into wood chips, mulch and other wood products.

Try buying your gifts from an eco-friendly store. Online or offline, these businesses offer gifts made from recycled, reused or all natural materials.

Create fantastic holiday decorations with reusable materials from around the house. There are tons of decoration ideas around the Net, so you'll be able to find some ideas that use things you already have lying around.

Send an e-card instead of a regular Holiday card, or buy Holiday cards made from recycled materials.

If you want lights, use LEDs (low-energy lights). Not only do they use less power, but also if one light goes out, the rest stay lit.

With a little bit of thought and ingenuity, your Sayreville & Piscataway New Jersey home can be as bright and cheerful as you've always wanted without worrying about the impact on the environment. Have a Happy (and eco-friendly) Holiday!

If you're looking for a green home to hang your eco-friendly wreaths in, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Eco-friendly packaging

http://www.nashvillewraps.com/eco-friendly-packaging/mc-051.html

Christmas tree Recycled

http://www.christmastree.org/recycle.cfm

Holiday decorations

http://www.goodhousekeeping.com/home/holiday-ideas/christmas-wreath-projects

Should You Buy A Real Christmas Tree For Your Sayreville & Piscataway New Jersey Home?

Freddie Moorer (Weichert Realtors) — Mon, 21 Dec 2009 08:38:00 -0800

Few questions are more important this time of year than which Christmas tree you should buy for your Sayreville & Piscataway New Jersey home. There are some things to keep in mind when looking for the perfect Christmas tree, here are just a few:

Real Or Artificial Tree?

Real Christmas trees require some care; if you're planning to travel this holiday season, you may not want a live tree. You must water the tree to make sure that it doesn't lose its needles before Christmas day. The live trees are not fire resistant, the dried out pine needles can get too hot from the lights and may burst into flame.

On the other hand, there isn't any up-keep with an artificial Christmas tree, and many look quite realistic. The plastic Christmas trees have an added bonus of being flame retardant. Then, there's the convenience of not having to go out in the cold weather to pick the tree out.

For those of you who can't imagine Christmas without the pine needle smell, you can buy air fresheners that mimic the smell of fresh cut pine. For some, an artificial tree is the best of both worlds.

How Big Is Too Much Tree?

Now that you've decided what kind of Christmas tree to buy, you have to find out how big a tree you can fit in your Sayreville & Piscataway New Jersey home. It could be that the only thing limiting the size of your Christmas tree is your budget; in that case, your decision is easy.

However, if you're limited on space, you'll need to decide the best place to put your tree first.

Try to think of how the area will "frame" your Christmas tree. Consider how much traffic goes by the area and whether there will be enough room for the presents to stay safe.

Break out the measuring tape so you don't have to guess when you're on the Christmas tree lot; trees look deceptively small on the lot. Or, if you opted for the fake Christmas tree, you'll know exactly which box to pick out; just look for the right size.

Want to buy a Sayreville & Piscataway New Jersey home that has space for a bigger tree? I can help. Give me a call today at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com.

LINKS:

Christmas tree

http://www.learn2grow.com/gardeningguides/trees/featuredplants/ChristmasTreeOptions.aspx

Water the tree

http://www.ehow.com/how_2343113_care-christmas-tree.html

Artificial Christmas tree

http://pre-litartificialchristmastree.info/

FHA On Solid Ground: Hope for Sayreville New Jersey Real Estate Owners

Freddie Moorer (Weichert Realtors) — Fri, 18 Dec 2009 07:45:27 -0800

A recent interview with FHA commissioner David Stevens on CNBC gives hope to Sayreville New Jersey real estate owners with FHA loans. The Federal Housing Administration now covers at least 30% of new home loans, so when Stevens announced that it might not make its 2% capital reserve, people were understandably nervous. For no reason, Stevens says in the CNBC interview.

Instead of immediate risk management in the form of strict guidelines that might make it harder on potential Sayreville New Jersey real estate owners, such as those Fannie Mae and Freddie Mac have put on condo mortgages, the FHA is going for some changes. The changes include hiring a chief risk officer and requiring higher capital standards for loan originators.

Once it was out that the FHA wouldn't meet its 2% (please note that the FHA itself is the one who broke the news), news portals, blogs and other websites spread the news that the FHA was a train wreck. However, the CNBC interview with Stevens cleared the air a bit.

It appears that the FHA, put in place for instances like this when people can't afford other loans, actually has two capital accounts. According to Stevens, the FHA has "lots of capital in primary reserve to cover expected defaults." Combined, FHA capital is over $30 billion dollars.

At the present, says Stevens, the FHA isn't considering a minimum credit score, and they may not have to. Looking at their portfolio, the average credit score has gone up 60 points, from 630 to 690, pointing to a higher quality of borrowers.

So, when thinking about buying Sayreville New Jersey real estate and looking at mortgage companies, don't forget to look at the FHA. If Fannie Mae and Freddie Mac are lending, the FHA is - and it's going strong!

You can watch the CNBC video for the full interview.

If you're looking for a beautiful home, I can help. Call me now at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Might not make its 2% capital reserve

http://portal.hud.gov/portal/page/portal/HUD/federal_housing_administration/docs/FHA%20Actuarial%20Review%20Briefing.pdf

FHA

http://www.hud.gov/offices/hsg/fhahistory.cfm

CNBC interview

http://www.cnbc.com/id/15840232?video=1274114504&play=1

DOM – What It Is, Why It’s Important & How It Affects Your Sayreville & Piscataway NJ Home for Sale

Freddie Moorer (Weichert Realtors) — Thu, 17 Dec 2009 09:23:22 -0800

Oh, the dreaded/happy DOM question. "How long has this house been up for sale?" If it's your Sayreville & Piscataway NJ home for sale we're talking about, you're probably wondering about the split "dreaded/happy" bit. For that matter, whether you're a buyer or a seller, you're probably asking, "what the heck is ‘DOM'?"

Days On Market

"DOM" is the shortened industry term for Days on Market, used by the multiple listing services (MLS). It's exactly what it sounds like: the number of days your Sayreville & Piscataway NJ home for sale has been on the market. This metric covers the time it actually goes on sale to the time the deal is closed.

Why Is DOM Important?

Remember the "dreaded/happy" part at the beginning of this article? As a buyer's agent, I might gleefully answer, "Fifty days." I say "gleefully", because a house that has sat on the market for a long time is a good thing for my client. The seller is probably more eager to sell than a month before, and is most likely willing to work a deal. An eager seller makes a happy buyer in most cases.

On the other hand, as a seller's agent, I might not be so happy about it, and for the same reason. My seller is now an eager seller. I want to get the best deal for my client, but I know the buyer has the upper hand. It is then up to me to help my client get the home sold without giving away the barn, the pool, the tool shed and the tools.

Already, you may be beginning to understand how the Days on Market metric can affect the sale of your home.

The problem with the DOM metric is that it causes buyers and agents to build false assumptions. If a home has been on the market for an above-average length of time, we start to wonder, "What's the matter with that listing?" Even though I know there are other reasons for a home to go static and not sell, many people automatically think there's something wrong.

Although you can't force a house to sell, you do have control over some of the reasons for an extended DOM metric:

The home may be overpriced - Nothing is wrong with the property itself; it's just priced too high.

Testing the market - Although it's a big mistake and agents will tell you so, some sellers test the market by throwing a high price on a home they don't care if they sell - just to see if somebody is foolish enough to take it.

Sticking to your guns - Often, sellers get fixed on a price and won't budge, come hell or high water. They figure they can wait around until the market can meet their price, not the other way around.

Renovations - Sometimes, a home will go on the market in the middle of renovations. The sellers aren't ready to let the home be seen, so it just sits there.

Availability - A growing problem is the lack of access to a Sayreville & Piscataway NJ home for sale. Sadly, agents and FSBOs alike seem to be unavailable when a buyer wants to view the home. Obviously, no viewing means no sale.

Don't let your DOM get high because of simple mistakes. If you're serious about selling your home, remember the five reasons above and make sure you aren't doing them.

If you're ready to sell your home with a professional who understands how to keep the DOM to a minimum, give me a call today at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com.

Links:

Multiple listing services

http://en.wikipedia.org/wiki/Multiple_Listing_Service

Buyer's agent

http://home.howstuffworks.com/real-estate/house-buying11.htm

FSBOs

http://www.realtor.org/research/research/fsbofacts

Sayreville & Piscataway New Jersey Homes for Sale: 2010 Market Forecasts

Freddie Moorer (Weichert Realtors) — Mon, 14 Dec 2009 08:49:36 -0800

The Those with Sayreville & Piscataway New Jersey homes for sale are buckling down for the long haul, but exactly how long will that be? I spent a little bit of time roaming the Internet to get the general "feel" from people on the housing market. It turns out that the answer all depends on who you ask...

Housing Predictor

Housing Predictor.com says, yes, the housing market appears to be making a rebound. However, that rebound, says economist, John Hines, is a false front. The government is pushing the rise in sales to make the housing markets look good and increase buyer confidence. Will the market ever get back on track? According to Hines, if Congress can get the lending pipeline going again, we might finally see a bottom around the third quarter of next year.

The Ledger

According to an article at The Ledger, Stephen Blank of the Urban Land Institute isn't at all optimistic. Blank says there's no quick fix, and that 2010 will be sobering. While the housing market is being helped by various factors, the foreclosure rate probably isn't going to drop and lenders aren't lending. Blank worries that financing may be lacking, even for those wanting to buy. He doesn't see the market doing much for another year.

CBS Money Watch

The best article I've come across so far, however, was written back in June at CBS MoneyWatch. The article says give the market at least seven years to recover. The author doesn't just quote doom and gloom, however. She has some great points for people with Sayreville & Piscataway New Jersey homes for sale. I highly recommend the read, but here is the quote that stuck firmly in my mind:

"If you are a seller, get realistic about what you can get for your house. With so little upside in the foreseeable future, you may be better off to sell, even at a loss, since you can probably get back into a similar house at a lower price and very low interest rates."

It's a buyer's market; the supply of empty homes is much higher than the demand for them. If you have one of the Sayreville & Piscataway New Jersey homes for sale and it's not selling, you may need to change your mind set a little. In this buyer's market, sellers may just have to bite the bullet.

Ready to buy or sell? I can help. Give me a call today at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com.

Links:

Housingpredictor.com

http://www.housingpredictor.com/bottommarket.html

Ledger

http://www.theledger.com/article/20091122/REPORTER/911225006/1035/BUSINESS?Title=Experts-No-Quick-Fix-for-Market&tc=autorefresh

CBS MoneyWatch

http://moneywatch.bnet.com/retirement-planning/article/real-estate-forecast-3-things-to-know-about-the-housing-market/315696/

4 New Year's Resolutions for Sayreville NJ Homes for sale

Freddie Moorer (Weichert Realtors) — Fri, 11 Dec 2009 09:27:31 -0800

New Years is just around the corner, and for many with Sayreville NJ homes for sale, it's the perfect time to make some resolutions. Let's be expansive, though, shall we? Don't say, "I will sell my house by April." We can be more specific than that. Here's a short list of resolutions that might help you take that home off the sales shelf:

Resolve to look over the competition. Not just one or two of the Sayreville NJ homes for sale, but ten or eleven. Look at them with the buyer's mindset. What selling points do they have? What negative points do they have? Your goal should be to outshine the competition. You can't do that if you don't know what the competition is.

Resolve to do a little home improvement. These don't have to be big projects. Your project could be as simple as adding a few bushes for better curb appeal. You don't have to spend a lot of money or a huge amount of time for the home improvement to count. What you do have to do, however, is make the improvement count. In other words, don't forget to walk buyers past whatever you've decided to do, or tell your real estate agent about it.

Resolve to check with your agent about the state of your home. Not when they think it will sell, but what you can do to up the value. Remember, "value" is a relative term. Upping the value for buyers may be as simple as cutting $5,000 off your price.

Resolve to be calm if a buyer suggests a lower price than you want. Consider the options fully - don't just snap his or her nose off. Can you afford to let the house go at the offered price? If you can and still want to say no, think about it... how long did it take to get this potential buyer? Can you afford to wait longer?

If you have one of the Sayreville NJ homes for sale, keep in mind that it's just one of the homes for sale. You have an amazing amount of competition; not just here, but around the nation. Take a chance to do something a little different. Your New Years may turn out to be even happier than you expected!

If you're looking for unique ways to sell your home, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Buyer's mindset

http://www.kitchenbathdesign.com/print/Kitchen-and-Bath-Design-News/Realtors-Survey-Provides-Insights-Into-Home-Buyers-Mindset/2$5364

Better curb appeal

http://www.bhg.com/home-improvement/exteriors/curb-appeal/ways-to-add-curb-appeal/

Amazing amount of competition

http://www.usatoday.com/money/economy/housing/2009-04-09-vacanthomes_N.htm

4 Things to Know Before Putting Up Your Home for Sale in Mercer & Middlesex County NJ

Freddie Moorer (Weichert Realtors) — Thu, 10 Dec 2009 08:54:49 -0800

The real estate industry is full of numbers and metrics that can influence your home for sale in Mercer & Middlesex County NJ. Here are just a few you need to know before putting your house on the market:

Pricing - Is your home for sale in Mercer & Middlesex County NJ worth more than you bought it for? Even now, it's a possibility. Check the average sales prices for the homes in your area, neighborhood and street. You might be pleasantly surprised. Contact your local agent for the information.

DOM - Days on Market is the time period a home sits on the market before closing. Currently, the average days on market in almost any area are rather high, but the actual metric may change depending on the price of your home. If you're faced with a timeline and have a set goal for the sale, the average days on market for your area is a number you need to know. Again, you can ask your local real estate agent.

List Pricing - The average list price tells you how much your competition is going for. If you're trying to sell your house way above the average list price, it probably won't leave the market.

Competition - How much competition do you really have? How many "For Sale" signs are up? The higher the inventory, the lower your chances of selling the home quickly.

Of all the numbers to know, these are at the top. As every agent knows, the best way to sell your home for sale in Mercer & Middlesex County NJ is to do the research - and then hire a proven real estate agent!

If you want to sell your home and need current information, I can help. Call me now at 732-247-1935 ext182 or email me at freddie@freddiemoorer.com for more information.

Links:

Average sales prices

http://www.realtor.org/research/research/ehsdata

Days On Market

http://homebuying.about.com/b/2008/03/10/why-days-on-market-matter-to-home-buyers.htm

Listing price

http://www.realtor.com/Basics/Sell/Index.asp

Christmas Comes Early for Mercer & Middlesex County NJ Homes and Buyers

Freddie Moorer (Weichert Realtors) — Tue, 08 Dec 2009 09:49:03 -0800

Have you heard of the first-time homebuyer's tax credit extension? Last month, President Obama signed the extension to help first-time homebuyers (who didn't get their sales in by November 30th) buy a house that meets their needs. What about those who already own Mercer & Middlesex County NJ homes, are doing well and want a larger home?

To those who already own a home, Merry Christmas! The Workers, Homeownership and Business Assistance Act of 2009 didn't just come with an extension; it came with improvements. Those in governmental positions of authority reasoned that if someone wanted to get a bigger home, they should get some kind of help too, thus further helping the overall real estate market.

If you own a home, you can now receive up to $6,500 in tax credits for buying one of the Mercer & Middlesex County NJ homes for sale. The actual wording is "$6,500 or 10%." Here are a few of the important points you need to know:

Income Qualifications - Your modified adjusted gross income (MAGI) as a single taxpayer must be less than $125,000 ($225,000 if you file jointly). Partial credit may be received by those with a MAGI of less than $145,000 (single) and $245,000 (jointly).

Home Ownership Qualifications - You must have lived in the home you own for five consecutive years out of the past eight to qualify. You do not, however, have to currently own the home you're using to qualify. The key terms are "five consecutive years" and "in the past eight years." If you lived in your home for five years straight, but sold it two years ago, you are still eligible for the tax credit. If you're filing jointly with a spouse, both you and the spouse have to qualify.

Cost Qualifications - The cost of the home doesn't have to be more than the home you already own, but it does have to cost less than $800,000. As a side note, the government has put a definitive cap on the housing costs. If the home you're looking at is a solid, non-negotiable $801,000, it isn't eligible for the credit.

Purchase Date - The final date for the purchases to be secured is April 30, 2010. The actual closing date must be finalized before June 30, 2010.

Most couples move into a home thinking they will "eventually" get a bigger home once they have a family. Then the family comes along, the house is full and they can't buy a larger home due to financial issues. The tax credit is a perfect opportunity for families to find Mercer & Middlesex County NJ homes that fit their expansion needs. Take a chance and look around; your dream home may be only a city block and $6,500 away!

If you're looking to expand and take advantage of the tax credit, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

First time homebuyers

http://www.federalhousingtaxcredit.com/

Modified adjusted gross income

http://www.moneybluebook.com/adjusted-gross-income-and-modified-adjusted-gross-income/

Tax credit

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

3 Ways to Find Out If You Have a Bad Mercer & Middlesex County NJ Real Estate Agent

Freddie Moorer (Weichert Realtors) — Mon, 07 Dec 2009 11:51:33 -0800

Most articles across the Net that focus on finding a real estate agent tell you what to look for to find a good one. What if you already have one, though? How can you tell if your Mercer & Middlesex County NJ real estate agent is the one that caused previous clients X, Y and Z to have never-ending nightmares? What if they're related to the Wicked Witch of the West and, horror of horrors, you don't know?

It's enough to give a person the terrors, even though Halloween is already past. In the interest of helping you have a good experience (thus raising the reputation of agents everywhere), here are three things you can do if your Mercer & Middlesex County NJ real estate agent starts giving you the heebie jeebies:

Find out if they've had any training since real estate school. Although it depends on the state, most agents have to complete a three- to six-week period of schooling. If they pass the real estate licensing exam they find a broker, sign a form, sign up with some real estate associations and are immediately moved into the echelons of "real estate professional." That's it.

If your agent hasn't had any more training than that, there's a high probability they don't know everything they need to know to give you the professional help you need. Real estate school can only teach so much, especially in three to six weeks.

Try to reach your agent by phone and email. If you get a voice mail, leave a message and see how fast they return the call. See how fast they return the email. Many agents leave comments on the listings such as "for questions, comments or to show, contact listing agent," which means the only way potential buyers can get any extra information or see your home is by contacting your agent. If your agent never returns emails or phone calls, you may be missing out on potential buyers.

Consider if they're willing to show you houses you want to look at, or if they're too busy. Some agents have a strange rule that they'll only show a certain number of houses. Other agents seem to be too busy to show you a few extra homes you're interested in. If either of these are the case, don't call another agent - get rid of the one you have, first.

If you find that your Mercer & Middlesex County NJ real estate agent is a genuine nightmare, take a step back and reassess whether you want to use them or not. If you decide you want to hire another one, first let your original agent know and officially cancel the contract.

If you're looking for an experienced, well-educated real estate agent, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Find a good one

http://homebuying.about.com/od/realestateagents/How_to_Find_Interview_and_Hire_a_Real_Estate_Agent.htm

Real estate school

http://www.kaplanreschools.com/

Listing agent

http://homebuying.about.com/od/realestateagents/qt/0407ListingAgt.htm

What Does It Mean To Go Green in Your Mercer & Middlesex County NJ Home Construction?

Freddie Moorer (Weichert Realtors) — Fri, 04 Dec 2009 09:08:11 -0800

Working to have a safe Mercer & Middlesex County NJ home environment is important to everyone. We want our children to have safe water, clean air, fresh food and a healthy earth for their future.

One area where you might consider decreasing your impact on the environment is in your own home construction. There are several ways you can have a safe and clean green home construction.

Find a "green" builder to help with your Mercer & Middlesex County NJ home. Search the Internet for professional green builders. It takes a special contractor to coordinate the elements of home building to ensure maximum energy savings. Buying green materials is just one step toward having a green home. To achieve ultimate efficiency, the different structural parts of plumbing, electricity, gas lines, and framework need to be coordinated.
Buy green materials from different vendors. Shop around to ensure you are getting the best deal. One vendor may sell stone at an exceptional price, but his timber may be overpriced. Natural supplies can be in short availability in some areas. Natural builders and vendors are working together to build a greener home construction industry, but it is still a business. It is your responsibility as the homeowner to make sure that you are getting the best deal.
Continue the "green" theme with your home decorations and furnishings. The construction of your green home saves resources and energy. You can reduce your impact on the environment even further by using energy saving appliances, eco-friendly interior paint, and sustainable wood flooring in your home.

Building your Mercer & Middlesex County NJ home using green construction is a great start to a cleaner, brighter future.

I can help you learn more about green home construction options. Call me at 732-247-1935 ext182 or email me at freddie@freddiemoorer.com for more information.

Links:

Professional green builders - http://www.builditgreen.org/

Green materials - http://www.ciwmb.ca.gov/greenbuilding/Materials/

Furnishings - http://www.greenhome.com/

Waiting for Prices to Plummet on Homes for Sale Mercer & Middlesex County NJ May Be a Mistake

Freddie Moorer (Weichert Realtors) — Wed, 02 Dec 2009 08:40:09 -0800

If you're looking at homes for sale Mercer & Middlesex County NJ, want to buy a home and are waiting around for better prices, you might want to rethink your strategy.

If you're a market watcher, soaking up the information overload across news media and Internet websites, you're probably overwhelmed with confusion by now. Is the housing market getting better? Is it getting worse? Was there really, when it gets down to it, a housing bubble collapse? And, if so, who popped it?

First, the quick answers. Yes, the housing bubble collapsed, and everybody had a hand in popping it: the government, the lenders, the investors and the general public. Now the hard answers: it's getting better - and worse.

The truth is that market predictors are all on the fence. With the ARRA (American Recovery and Reinvestment Act) giving first time homeowners some incentive to buy homes for sale Mercer & Middlesex County NJ and elsewhere, there has been a steady increase of sales. However, once the tax credit deadline hits at the end of this month, the numbers are once again expected to drop.

Again, though, it's better and worse. While the housing market is still dropping in some areas, such as the southeast in Mississippi, Alabama and so forth, there are definitely some strong markets in the country.

For instance, Boulder, Colorado holds 60% of the share of increasing home values. The average value is about $350,000, but there's a limit in place on the amount of homes allowed in the area. In Binghamton, New York, the average value of a home is around $112,000. They also have a housing limit, which means a small supply, so prices probably aren't going to plummet.

Just because this is a buyer's market, doesn't mean you'll get the exact price you're looking for. If you want to buy a home and you're waiting around for the prices of homes to plummet into a "sweet deal," make sure you don't wait yourself into an expensive mistake.

Instead of checking market forecasts, potential homebuyers need to look at things the way we always should have. Do I want to buy a house? Can I afford one of the homes for sale Mercer & Middlesex County NJ the way things are now? By researching, crunching numbers and answering the important questions, you'll find the sweetest deal you could ever have: a wonderful house you can afford.

If you're looking for a place to call your own, I can help. Call me at 732-247-1935 ext182 or email me at freddie@freddiemoorer.com for more information.

Links:

ARRA

http://www.recovery.gov/Pages/home.aspx

Strong markets

http://images.businessweek.com/ss/09/08/0811_strongest_housing_markets/1.htm

Can I afford one of the homes

http://www.hsh.com/calc-howmuch.html

Should You Get a 15-Year Mortgage on Your Mercer & Middlesex County NJ Real Estate?

Freddie Moorer (Weichert Realtors) — Tue, 01 Dec 2009 08:41:38 -0800

There are a lot of financing options to help you buy Mercer & Middlesex County NJ real estate, if you can meet the credit guidelines.

Most lenders prefer to use 30-year mortgage loans. With a longer loan term, the lender can collect more money in interest over the life of the loan. For those who are credit-worthy, a 15-year mortgage term may be offered. So, what is the difference between the two? Here are a few guidelines:

What About a 30-Year Mortgage?

Thirty-year mortgages are becoming the normal term for Mercer & Middlesex County NJ real estate loans. The payments are usually more affordable and lenders are quick to recommend them. Lenders are more likely to offer you a higher loan amount with a 30-year loan, but the trade off is usually a higher interest rate.

What Are The Benefits Of A 15-Year Mortgage?

Signing up for a 15-year mortgage can save you a lot of money in interest payments. True, your monthly payments will be higher than with a 30-year loan, but the impact on your long-term finances may be worth it.

After just 16 years, you can start investing the money that you're no longer spending on your mortgage into other real estate properties or investment opportunities. You can build your investment portfolio with just the money you would've spent on your monthly mortgage payment.

What about Prepayments?

Even if you do decide to take out a 30-year loan, you can still have some of the same benefits of the 15-year loan. By making prepayments, you can take years off a 30-year loan and still have the freedom of making smaller monthly payments, if you need to. Before finalizing your decision, ask your lender if there are any penalties for making prepayments.

A 15-year mortgage is usually the better financial decision, because you can save thousands of dollars over the life of the loan. The interest on a loan may be halved by choosing a 15-year loan.

No matter how you choose to finance your Mercer & Middlesex County NJ real estate, I can help you find the home that meets your needs and budget. Call me today at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

LINKS:

Benefits of a 15-year mortgage:

http://financialplan.about.com/lw/Business-Finance/Personal-finance/15-Year-Mortgage.htm

Investing: http://en.wikipedia.org/wiki/Investment

Prepayments:

http://www.mortgageqna.com/mortgage-terms-glossary/prepayment-definition.html

Racing for Mercer & Middlesex County NJ Homes for Sale

Freddie Moorer (Weichert Realtors) — Mon, 30 Nov 2009 10:37:46 -0800

Potential first time homebuyers are racing the clock to find the perfect Mercer & Middlesex County NJ homes for sale. Who's going to reach the finish line first? And... why are they racing?

Many of you have probably heard of the American Recovery and Reinvestment Act of 2009 (ARRA) by now. For those looking for Mercer & Middlesex County NJ homes for sale that haven't heard of the ARRA, first time homebuyers can receive up to $8,000 back in tax credits from the U.S. government. Singles and those married but filing jointly, have an $8,000 threshold, while married individuals filing separately have a $4,000 threshold.

Sounds wonderful, doesn't it? With the tax credit, your taxes are matched dollar-for dollar. This means, if you owe $9,000 in taxes for 2009 and get the full $8,000 tax credit, you'll only owe $1,000 in taxes. That's quite a bit of money to save, especially now. Better yet, if you don't owe anything, that tax credit may become a tax refund - $8,000 of refund, to be exact.

With all the homes available, why are first time buyers racing? Aren't there enough homes to go around? Of course there are - in fact, millions of homes in the U.S. are waiting for a buyer. However, first timers want to take advantage of the tax credit, and it only goes until April 30, 2010.

You may think that's still plenty of time, but it's not, really. To qualify for the tax credit, you have to have the keys to your new house in hand and the sale finished by the ARRA ending date.

Should you be racing, too? Well, that depends. If you want to buy one of the Mercer & Middlesex County NJ homes for sale, can realistically afford it and have been waiting for the best time, that time is here and almost past. However, if you want to buy a home, but can't afford it yet, don't let the tax credit push you into a tight monetary situation you can't get out of. Take the time to build up equity and savings until you can buy a home you can afford!

If you're a first time buyer wanting to take advantage of the tax credits, I can help. Call me now at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com.

Links:

American Recovery and Reinvestment Act of 2009

http://www.irs.gov/newsroom/article/0,,id=204335,00.html

Waiting for a buyer

http://bloomberg.com/apps/news?pid=20601110&sid=an17jgiccivM

Home you can afford

http://cgi.money.cnn.com/tools/houseafford/houseafford.html

National Foreclosure Trends and Mercer & Middlesex County NJ Real Estate

Freddie Moorer (Weichert Realtors) — Sat, 28 Nov 2009 10:38:19 -0800

Everybody wants to know how the housing market is doing, especially if they own Mercer & Middlesex County NJ real estate. I try to keep the newsy pieces to a minimum and spend most of my Internet space on helpful pointers, but a lot of readers have asked about the market. In response to high demand, here's a peak at the current national foreclosure trends:

Foreclosure Trends

It's a wonderful thing to own any kind of real estate (although I'm partial to Mercer & Middlesex County NJ real estate, of course). Unfortunately, many people have lost their homes due to foreclosure since the housing crisis started; there have been over 7.8 million since 2007. California, Florida, Arizona, Nevada, Illinois and Michigan have been topping the count for foreclosures, adding up to 62% of the nation's foreclosures.

California's numbers reached 349,435 foreclosures last month, and it was feared that those numbers might escalate. However, there's some good news there. Even though homeowners are still teetering, lending institutions are caving in under government pressure to work with those homeowners. For that matter, they may even be working with the government to stem the deluge of foreclosures.

HousingPredictor.com conducted a survey of homeowners that shows we may have as many as 25 million foreclosures before everything is said and done, mainly due to homeowners who are tired of watching housing prices fall. Such a glut of the market could cause some serious repercussions for the economy. However, again, there are some positive points.

For instance, current mortgage interest rates are ranging from as low as 4% to 5.5%, cut almost in half from the "housing boom" years. While housing prices may be dropping, the fall is slowing down. As well, lower prices mean more affordable homes. While this may not be a good thing for homeowners, it's an excellent thing for home buyers.

As prices drop and homes become more affordable, the glutted housing market of foreclosed and for sale homes is slowly shrinking. As the reserve market (the number of houses per capita that are for sale) shrinks, consumer confidence will build up (something we desperately need). Housing demand will rise, surplus will shrink, and prices will stabilize.

Of course, in the meantime, while you're waiting for things to stabilize, hold on to your Mercer & Middlesex County NJ real estate. Take advantages of the tax breaks available to upgrade your existing property, maybe get the renovations done you've always wanted. There are still opportunities in this market - you just have to find them!

If you're a buyer looking for a great home, act now to find amazing bargains. I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Stem the deluge

http://www.latimes.com/business/la-fi-foreclosures21-2009oct21,0,5605171.story

HousingPredictor.com

http://www.housingpredictor.com/epidemic.html

slowing down

http://www.bloomberg.com/apps/news?pid=20601087&sid=a6f3TaKJxPAQ

Job-loss Mortgage Insurance: A Second Chance at Mercer & Middlesex County NJ Homes for Sale?

Freddie Moorer (Weichert Realtors) — Wed, 25 Nov 2009 11:19:33 -0800

Even those with a steady job and sufficient income are cautious about signing their mortgages for Mercer & Middlesex County NJ homes for sale. They realize that signing mortgages set them up with payments for a significant amount of their lifetimes. Others worry, especially now, about losing their jobs in an unstable economy. The "what if" game begins, and potential homebuyers know that, if they lose their job, there's a very real possibility they might lose their home.

Job-loss mortgage insurance gives homebuyers a "fallback plan" should they ever lose that stable income. It's a definite relief to many who want to buy Mercer & Middlesex County NJ homes for sale, but can job-loss mortgage insurance really help homeowners? Or, is it just another way to swindle the innocent out of hard-earned money?

What is it?

Job-loss mortgage insurance is exactly what it sounds like. Some insurance companies offer an insurance plan to help you pay your monthly mortgage payment should you lose your job. Although it's been around for years, the big companies, such as Bank of America and GE Casualty, have begun picking it up in the past 10 years,.

How does it work?

Job-loss policies pay all or part of your mortgage payment if your job loss is involuntary, and some pay if you become medically unable to work. Policies vary depending on the provider, but most go into action after a month of unemployment. Most also have a wait period which means they won't pay out during the first six months after you've purchased the policy.

Maximum monthly benefits, what the policy covers and whether you have to be receiving unemployment benefits are just a few things to look over while researching providers. As usual with anything insurance, make sure you read the fine print.

Is it worth it?

A lot of financial advisors say not to bother with the job-loss mortgage insurance. Take the money you'd be spending on insurance and build a savings account to hold six months worth of payments. However, many first-time home buyers have depleted their reserve funds just to get the house, and may not have the money to put aside.

My advice to you...

If you're interested in buying one of the Mercer & Middlesex County NJ homes for sale, but you're worried about your job stability, look into job-loss mortgage insurance. Once you have the facts, policy information and coverage costs, figure it into your finances (payments for coverage vs. building a six-month fallback account) and decide what's best for you.

If you're looking for a beautiful home at a price you can afford, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Mortgage payment

http://www.trulia.com/blog/helen_oliveri/2009/07/job-loss_mortgage_insura

GE Casualty

http://community.seattletimes.nwsource.com/archive/?date=20021020&slug=homeharn20

Job-loss mortgage insurance

http://www.insuranceagents.com/homeowners-insurance/job-loss-protection.html

How Much Mortgage Can You Really Afford for a Mercer & Middlesex County NJ Home?

Freddie Moorer (Weichert Realtors) — Tue, 24 Nov 2009 12:02:06 -0800

Owning a Mercer & Middlesex County NJ home can be a sign of independence and success. It allows you to build up equity and the mortgage interest and property taxes are tax-deductible. Can you afford it, though?

Reputable lenders look at a list of criteria to decide how much they'll loan you. This list includes:

•· Credit score

•· Existing assets including cash

•· Car leases or loans

•· Credit card balances

•· Debt consolidation loans

•· Home equity loans

•· Installment loans

•· Student loans

•· Other monthly debts

•· Size/source of your down payment

If you'd like to get an idea of what you can afford before talking to a lender, here are a few tools you can use to decide whether a Mercer & Middlesex County NJ home is within your budget:

As a rule of thumb, your house hunting budget shouldn't be more than 2.5 times your pre-tax annual income. If you earn $50,000 a year, your budget for house hunting should be around $125,000.

Your Housing Expense Ratio, which is principal, interest, taxes and insurance (PITI) shouldn't be more than 25% to 28% of your pre-tax monthly income.

You're Debt-to-Income Ratio should be no more than 36% of your pre-tax monthly income. This is the ratio between how much you owe and how much you earn.

Use an online calculator to figure how much home you can afford.

"Qualifying for" and "can afford" are two different things. Shopping for a Mercer & Middlesex County NJ home within your budget will save you a lot of heartache now and in the future.

If you'd like help determining how much mortgage you can really afford, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

LINKS:

Housing Expense Ratio:

http://www.mortgageqna.com/mortgage-costs-fees/housing-expense-ratio.html

Debt-to-Income Ratio:

http://www.lendingtree.com/mortgage-loans/advice/qualifying-for-a-loan/calculating-debt-to-income/

figure how much home you can afford: (link to the calculator on your website or use this link)

http://www.lendingtree.com/smartborrower/loan-calculators/