Attention first time home buyers, don’t miss out on this very charming condo located in Hoboken. This is a great opportunity to take advantage of the $8,000 First-Time Home Buyer Credit. Act now before it’s gone! Remember, now the credit is $8,000 for first timer and $6,500 for repeat buyers. See Home Buyer Tax Credit site for information.
If you would like to take a tour of this lovely condo or you are looking for assistance in finding the perfect home in Hoboken, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.
With the extension of the $8,000 credit and the addition of a credit for those who have owned and lived in their home for at least five of the last eight years.
With rates falling and beginning in January 2010, those who have the equity and can afford to refinance are taking advantage of the low rates. The refinance share of the loan market climbed 11.3 percent to 71.5 percent recently.
The 30-year fixed rate is at 4.69 percent and is the lowest since May 15. The average 15-year rate is 4.33 percent. The rate for a 1-year Adjustable Rate Mortgage was 6.85, up from 6.83
For more valuable information on current housing issues, please go to Making Homes Affordable.
Since there is more time to utilize the $8,000 tax credit, make this your opportunity to find the ultimate Hoboken home. Contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.
Home sales will increase 15 percent to a potential of 5.7 million units and REALTOR® income will be up 20 percent in 2010, according to NAR Chief Economist Lawrence Yun.
The home buyer tax credit brought in up to 400,000 first-time buyers into the market who would not have bought otherwise. This created smaller inventories of starter homes and helped reduce households’ fear over further price drops.
Yun also says that the supply of homes will stabilize to the typical norm of six to seven months. Homes above $500,000 will remain elevated in the short term future, but it will also be offset by a big drop in starter-home inventories.
For more information on the credit to help homeowners, visit the Homebuyer Tax Credit site
As a top Hoboken REALTOR, I can help you through the entire process of buying your first home. If you are looking for assistance in finding the perfect home in Hoboken, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.
Congress passed a bipartisan measure extending the $8,000 home buyer tax credit to April 30, 2010. The extension is estimated to contribute approximately $22 billion to the economy.
The legislation, which is part of a larger bill that also extends unemployment benefits.
The law also includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years.
Income limits for eligible home buyers were also expanded to $125,000 for single buyers and $225,000 for couples, up from $75,000 for individuals and $150,000 for couples. Qualifying home prices are capped at $800,000.
Since there is more time to utilize the $8,000 tax credit, make this your opportunity to find the ultimate Hoboken home. Contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.
The Department of Housing and Urban Development is making an attempt to simplify the process of looking for a loan. On Jan. 1, 2010, a new Good Faith Estimate form, or GFE, will be introduced that will outline the costs of a loan, including a revised settlement statement which shows your final loan costs and is signed at closing. HUD has made the estimation that an average borrower will save nearly $700 because they can now clearly define costs and compare loans.
For many buyers it can be difficult to understand the costs that are built in to their loan. If a buyer is given a loan where the cost is very clear it will make it easy to compare other loans and make informative decisions.
While shopping for a loan we all need to take the time to compare the different loans that are available. Hopefully, the new Good Faith form will help buyers better understand the type of loan they will be getting.
There are so many advantages to being a first time buyer in this current market. For more information regarding how I can help you negotiate the best deal on your first home, contact Eddie Perez, Broker-REALTOR, CDPE. My market includes Hoboken, Jersey City, Weehawken and Union City. I can be reached at eddie@InvestHoboken.com or 201-344-2886.
As reported by the National Association of REALTORS® pending home sales have risen for an eight consecutive month making this the longest period of growth since 2001.
The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in September, rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9.
The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8.
As a top Hoboken REALTOR, I can help you through the entire process of buying your first home. If you are looking for assistance in finding the perfect home in Hoboken, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.
An investigation has been started by the U.S. House committee to determine whether lenders used the property boom to encourage people to buy by using deceptive tactics.
The central part of the investigation will focus around Countrywide Financial Corp. Countrywide was bought by Bank of America in July 2009 and was considered the largest U.S. mortgage lender.
For assistance in navigating your way in the complicated process of purchasing your first home, please contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.
It is a great time to be a first-time home buyer in this market. Existing single-family home prices are down and interest rates are near historic lows. And you can’t forget about the first-time buyer $8,000 tax credit.
Following are a few first-time home buyer tips you may want to consider:
1. Think about the long term future.Purchasing a home requires long-term planning. If you are unsure of where you will be in the short term future, you might want to reconsider your plans to buy. The more time you spend in your home gives you a better opportunity to recoup your investment.
2. Don’t settle for the first home you see. Calculate how much home you can afford. A good way to do this is to browse online listings to become familiar with the market. It is tough to find everything you want but if you prioritize your needs and wants you may have a good chance of finding what will really suit you.
3. Find a good buyer’s agent. A good buyer’s agent does a lot more than just hand you listings. The agent can help you with many things, from a loan preapproval, to a home inspection, but above all is ready to put all of your interests first.
4. Remember the high price that comes with owning a home. Many first-time home buyers will focus on the actual price of a home and forget to consider the other costs that come with it. Don’t forget about closing costs, basic maintenance and utilities.
There are so many advantages to being a first time buyer in this current market. For more information regarding how I can help you negotiate the best deal on your first home, contact Eddie Perez, Broker-REALTOR, CDPE. My market includes Hoboken, Jersey City, Weehawken and Union City. I can be reached at eddie@InvestHoboken.com or 201-344-2886.
Highly regarded housing consultant. John Burns Real Estate Consulting,recently released a survey of home builders regarding the type of financing their buyers’ used. The survey states that almost 60 percent of new home buyers relied on low down-payment mortgages from the government.
20 percent of buyers used conventional financing, 7 percent got a jumbo loan and 7 percent of buyers paid cash.
Other important facts that were included in the survey was that the total of unsold finished inventory has dropped and sales are slow, particularly among builders who do not have a lot of appeal to first-time home buyers.
As a top Hoboken REALTOR, I can help you through the entire process of buying your first home. If you are looking for assistance in finding the perfect home in Hoboken, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.
There has been a tentative agreement in the senate to extend the current $8,000 tax credit for first-time home buyers. In addition, there will be a new $6,500 credit offered to existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years.
The new requirements are that home buyers must be under contract by April 30, 2010, and close before July 1.
Market news,stats, new listings, price reductions and lots of other useful info about condos and other real estate in Hoboken, NJ.
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$8,000 home buyer tax credit to April 30, 2010. The extension is estimated to contribute approximately $22 billion to the economy.
the process of looking for a loan. On Jan. 1, 2010, a new 
pending home sales have risen for an eight consecutive month making this the longest period of growth since 2001.
committee to determine whether lenders used the property boom to encourage people to buy by using deceptive tactics.
Existing single-family home prices are down and interest rates are near historic lows. And you can’t forget about the first-time buyer $8,000 tax credit.
recently released a survey of home builders regarding the type of financing their buyers’ used. The survey states that almost 60 percent of new home buyers relied on low down-payment mortgages from the government. 
extend the current $8,000 tax credit for first-time home buyers. In addition, there will be a new $6,500 credit offered to existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years.
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