Why Are Comps Important? - 10/26/09 10:23 AM
 

When the day comes that you decide to sell your home, the best method to calculate how much to sell it for is by utilizing real estate comps. This data is called “comparable sales” or “comps,” and is a big factor in determining the sale price of a particular home. Information is calculated by gathering the figures of recent sales of nearby homes. By using these figures you can determine how much a home might be worth.
Buyers can use comps to determine a fair price to offer for a home.  Comps can also be used to track market trends … (1 comments)

Tax Credit Update - 10/25/09 10:18 PM

Now we have to play the waiting game to see whether Congress will extend or possibly expand the first-time home buyer tax credit.
The National Association of Realtors announcd that Speaker of the House Nancy Pelosi (D-Calif.) and House Ways and Means Committee Chair Charles Rangel (D-N.Y.) both support an extension.
What really needs to be worked out is to define how the credit should be extended and who should receive it. Some say the potential for an extension could be any where from a month to a year. If the extension does become approved, the length of time is likely to … (0 comments)

September 2009 Hoboken Condo Sales Statistics - 10/21/09 12:30 AM
By Eddie Perez, Broker Associate
Here are the final sales figures for September 2009 compiled using the Hudson County Multiple Listing Service.
September’s Hoboken condo market statistics showed a slow down from the strong numbers that appeared during the month of August.  Total closed units were down slightly with 69 closings in August followed by 67 closings in September.  Final closed sales prices were mixed with average prices falling 2.1 % to $485,497 in September from $495,882 in August.  Median closed sales prices were slightly up however at $490,000 in September compared with $475,000 in August.  The largest drop off was … (0 comments)

Can You Find A Great Property Deal On Craigslist? - 10/19/09 09:13 AM

Today you can find just about anything on Craigslist. As a potential Real Estate Investor, did you ever notice that Craigslist is divided into cities? This can be a big drawback when you are searching for properties for sale.
Did you know there is a feature on Craigslist that allows you to search multiple cities at one time? The featured site is called http://www.Craigshelper.com but is now very recently being redirected to http://www.searchtempest.com (Thank you to James Lyon at Vista Pacific Realty for pointing this out). 
With Craigshelper all you need to do is type in the zip code where you would like to search … (43 comments)

Uniform Short Sales Guidelines are Coming - 10/19/09 08:57 AM
Fortunately, it appears that things could be improving for short sales.
The recent U.S. Treasury announcement stated that it would be providing more incentives for borrowers and mortgage services to pursue short sales and other foreclosure alternatives.
The incentives and process guidelines are part of a larger program called Making Home Affordable, which is in place to help homeowners avoid losing their home.
This past May, the Treasury proposed that lenders would receive a $1,000 for allowing the owner of a house to sell for less than the amount owed on a mortgage, and than accept the proceeds as full repayment. This … (0 comments)

Making Home Affordable Program is Ahead of Schedule - 10/19/09 08:46 AM
On October 8, nearly a month earlier than the November 1 deadline set earlier this year, the U.S. Department of the Treasury and U.S. Department of Housing and Urban Development (HUD) announced that more than 500,000 trial loan modifications are in progress under the Making Home Affordable program.
The November 1 deadline was set in July so servicers would work at a faster pace to complete the modifications.
The Administration still believes that more can be done to assist struggling homeowners. Senior Treasury and HUD officials will be meeting to discuss how to improve servicer efficiency and responsiveness to borrowers during the … (1 comments)

Look What $334,000 Buys You In Hoboken - 10/11/09 10:18 PM

Don’t miss out on this very spacious  and 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 too late! 

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.


 
… (1 comments)

Don't Let Time Run Out! - 10/11/09 08:40 PM
The December 1 deadline for the $8,000 First-Time Home Buyer Tax Credit is rapidly approaching. There are many great opportunities for the first-time home buyer in Hoboken. Now is the time to buy your first home. Below you will find one of the lovely available condos located in Hoboken. 

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.

… (0 comments)

New FHA condo rules coming! - 10/11/09 12:26 PM
Hoboken Condo buyers and sellers – Must Read! Local lenders are telling me that new FHA(Federal Housing Administration) lending rules for condominiums will be changing as of November 3rd, 2009.  
This could have a negative impact on our local market as we have a large condo market and FHA loans are one of the few options available for borrowers
who have less than 20% for a down payment.
Some of the new impending rules:
Spot approvals eliminated
No more than 30% of units can be financed with FHA loans
50% pre-sale requirement for new projects
At least 50% of units … (0 comments)

More Optimism Regarding the Tax Credit Extension - 10/05/09 12:40 PM
With the recent announcement from Wall Street investment firm Goldman Sachs Group that new U.S. home sales may jump 30 percent next year, has brought new optimism that the market is improving. Goldman Sachs Group has come to this conclusion because of continuing low interest rates and a very good probability that Congress will extend the first-time home buyer tax credit.
Supporters of the first-time home buyer tax credit say that it has helped stabilize the housing market. The credit applies to sales as of January 2009, and is good for 10% of the price of a home or up to $8,000. Since the … (0 comments)

Look Who’s Walking Away… - 10/05/09 12:36 PM
A recent article in the Los Angeles Times states that there is an increasing group of homeowners with top credit scores that are more likely to walk away from an underwater mortgage.
24 million individual credit files were examined for a recent study by the national credit bureau Experian and Oliver Wyman. They have found that homeowners with high credit scores when applying for a loan are 50% more likely to "strategically default" compared with lower-scoring borrowers.
Following you will find a summary of the researchers surprising facts:
* The typical strategic defaulter goes from never missing a monthly mortgage payment to completely stopping.
* Strategic defaults … (1 comments)

 
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Eddie Perez - Hoboken Condo Living

Hoboken, NJ

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RE/MAX Gold Coast Realty

Address: 56 Newark St, Hoboken, NJ, 07030

Office Phone: (201) 795-5200 x 423

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