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new jersey homes: Sellstate Access Realty-Robert Kahn - 09/03/09 08:11 PM
I would like to take this opportunity to welcome Robert Kahn, Broker Associate/ Sales Manager to our office. Bob has signed on with us as our Sales Manager and has already signed several agents in a short period of time. Bob brings over 20 years of experience and knowledge as well as a passion for helping Realtors grow their business and be successful. It is a privilege to have him with us, as I know he will be a tremendous asset to our firm. Anyone interested in joining our team should contact Bob @ 908-429-4200x100.
JOSEPH ROMANO, BROKER/OWNER/WATCHUNG NJ/SELLSTATE … (1 comments)
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new jersey homes: Mark this day: The worst is over - 09/21/08 05:23 PM
I was reading an article by Lou Barnes who is a mortgage broker and nationally syndicated columnist based in Boulder, Colo. He can be reached at lbarnes@boulderwest.com for comment on his article in Inman News.
Inman News is a great resource for real estate related articles.
In the article he touches on some critical issues still facing us in the housing and mortgage industry.
He goes on to say that the economy is sinking and will continue to do so, partly because it must to pass the inflation pig still moving through the national python. New claims for unemployment insurance are … (2 comments)
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new jersey homes: Realtor Safety Week - 09/18/08 06:24 PM
Realtor Safety Week runs from September 14-20, 2008
These are some of the safety tips to consider when in the office, at home and on the road.
Meet potential clients for the first time in your office. Let someone know where you are going and who you are meeting with. Check in with your office on a regular basis. Create a code word that may be used to indicate you are in distress. Familiarize yourself with a home, its property and neighborhood before showing it to others. Introduce yourself to a neighbor or two and let them know you are having … (1 comments)
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new jersey homes: What is Pre-Approval? - 09/04/08 06:53 PM
Pre-approval is really the closest thing there is to a guaranteed loan.
After completing a thorough application and providing all the necessary documents to your financing specialist, the lender's underwriters will begin pre-approval verification. The underwriters will verify your credit history and employment, as well as review your loan file. If everything meets with their approval, then you will be cleared for a specific loan amount.
The only thing to remember is that the final, firm commitment, on the part of the underwriter, is subject to a completed sales contract and a satisfactory property appraisal.
After being pre-approved, your lender will … (2 comments)
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new jersey homes: What is Pre-Qualification? - 09/04/08 06:50 PM
Usually, in just a 15-minute phone call, a lender can pre-qualify you for a mortgage.
Because the lender's underwriters do not validate credit history or employment information for pre-qualification, this preliminary review results in a non-binding opinion regarding how much of a mortgage you can afford.
Through pre-qualification, you'll come away with an approximate monthly payment and price range to shop.
Just remember, a pre-qualification is only a guide to help you begin the process of looking for a home. It is not a guarantee that you will be approved for a mortgage.
If you're interested in learning more, please give … (0 comments)
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new jersey homes: Sellstate Access New Jersey (How to find the right Real Estate Attorney) - 08/18/08 07:30 PM
If you're considering a complex transaction, then you might be wondering how to find just the right real estate attorney.
Here are a few recommendations:
- First, please feel free to ask me anytime!- Ask family and friends- Call the local bar association- Conduct phone interviews to determine the attorney's experience- Determine whether billing is by the hour or flat fee- Finally, request a list of recent references
Keep a written record of each attorney you interview, and rate each candidate according to skills, effectiveness and cost.
I look forward to helping you in any way I can. Please call me … (0 comments)
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new jersey homes: Sellstate Access Realty (Does Buying a Fixer Upper Pay Off?) - 08/17/08 09:12 AM
Realistically, the majority of fixer-uppers are in complete disrepair, meaning that it will cost you more to "fix it up" than to purchase a home in move-in condition. However, if you are serious about buying a sound fixer-upper, let me give you a few tips on finding a sound fixer upper:
- Look in neighborhoods with resale potential- Try to find a home that has been listed for sale for several months- Always estimate your fix up costs before buying- Avoid homes requiring structural improvements- Avoid major additions, such as adding a family room or bedroom
The industry standard rule of … (0 comments)
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new jersey homes: Sellstate Access Realty (First Time Buyer Jitters) - 08/11/08 07:47 PM
I know that the home buying process can be overwhelming, but if you go into it prepared, your first purchase can be a good experience.
Here are some things to consider before taking the plunge:
1. To lessen the stress surrounding getting a mortgage, you may want to get pre-approved for a loan before looking at potential properties. This will help you feel more confident as a buyer, and give you an edge in multiple-offer situations.2. Don't be afraid of closing costs. In fact, closing fees of up to 10% of the home sale is not unusual. Add that to the … (0 comments)
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new jersey homes: Sellstate Access Realty (Fannie Mae Update) - 08/10/08 10:02 AM
Fannie Mae is tightening underwriting standards, increasing fees, and will stop buying newly originated alt-A loans by the end of the year. It is doubling an "adverse market delivery charge" on all loans to 0.5 percent beginning Oct. 1. The charge now amounts to $1,000 on a $200,000 mortgage.
It looks like Fannie Mae is tightning their requirements for new loans. So much for getting some releif. Ultimately, borrowers taking out loans with LTVs of 75 to 80 percent will pay higher fees. A borrower with a credit score between 640 and 659, for example, would pay an LLPA fee of … (3 comments)
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new jersey homes: sellstate Access Realty, first Time Buyer (Finding The Right Financing) - 08/08/08 04:34 PM
First-time homebuyers have to content with a cadre of financial and lending details. So, I wanted to take a moment to help you understand some of the finer points.
When you decide on a lender (whether it's a bank, a credit union, or a mortgage lender), be sure to get every detail in writing. Specifically, ask for written explanation of the lock-in rate, and any points or fees that you'll be paying to secure your financing. You should also request an estimate of your closing costs. Inquire about pre-payment penalties, and ask that the lender attach an addendum to your contract … (1 comments)
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new jersey homes: Sellstate Access Realty, First Time Home Buyer / Researching Neighborhoods - 08/07/08 06:59 PM
As you consider the purchase of your first home, don't stop after inspecting the property. Examine the surrounding area.
I recommend asking some detailed questions. Is it safe and well maintained? Is it a convenient location for you? Close to schools, shopping and work? Ask about the zoning laws and any vacant property located nearby. Is the city or county considering widening the street in a couple of years? Is there a railroad crossing within hearing distance?
It's perfectly all right to find your dream home in an area with which you're not familiar. But be sure to take your research … (0 comments)
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new jersey homes: Sellstate Access Realty (Business Success Newsletter) - 08/03/08 01:22 PM
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new jersey homes: Sellstate Access New Jersey (Tips on Selecting the Right Subdivision) - 08/03/08 08:23 AM
Another issue to be aware of in new construction is the subdivision neighborhood.
Generally, developers buy pastures and turn them into subdivisions. Of course, large plots of land are hard to find near the city center, so new subdivision neighborhoods are often relegated to the outskirts of town. Additionally, land on the outskirts of town is cheaper to buy, and developers can make more of a profit.
Often what happens is that developers quickly build entire new communities, but retail and service development lags far behind. You may have to spend several years driving quite a ways to get to the … (0 comments)
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new jersey homes: Sellstate Access New Jersey (Planning to Buy Your First Home) - 08/01/08 07:04 AM
As a first-time home buyer, to help you keep your sanity, I'd like to make a quick recommendation:
Do as much planning as possible.
From the moment you think about buying a home, start planning. First, start by requesting a copy of your credit report. Please call me if you need help with this, as I have access to several sources. We'll carefully examine the report for errors, and clean up any faulty errors.
If you're currently renting, be sure to check your lease for an early release clause. It may be necessary to time your closing to the expiration of … (0 comments)
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new jersey homes: Sellstate Access Realty (Upgrades that add value) - 07/31/08 05:36 PM
When purchasing a new home, choosing the right upgrades is an important part of the process. Below are some recommendations that will more than likely provide a return for your investment.
Wiring. Having your home wired for high-speed internet access and computer networking is a major plus. Also, extra ceiling fan outlets give buyers the option of adding more ceiling fans.
Fireplace. Can be a valuable upgrade especially in certain rooms.
Flooring. Hardwood floors are a very popular feature, as well as tile. Upgrading your carpet in high-traffic areas, or upgrading the padding underneath your carpet as well.
Kitchen. According to … (0 comments)
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new jersey homes: Sellstate Access New Jersey (Franchise Opportunities in New Jersey) - 07/31/08 05:31 PM
Sellstate Access New Jersey (Franchise Opportunities in New Jersey)
Hello again, as the regional owner, Sellstate Access New Jersey, I just wanted to say that we are getting a lot of activity at the regional level for Franchise Development and Sales here in New Jersey. With 5 Franchises already opened, we are excited about the growth and the level of interest in our company. we were please that we have 2 more people interested in our Business Model and are seriously interested in purchasing a Franchise in our area.
If you have ever thought about owning your own business, cornering the … (0 comments)
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new jersey homes: Sellstate Access Realty, Ask Before Choosing Upgrades - 07/25/08 06:43 AM
Whether buying a new home, or remodeling an existing one, you want the upgrades and options you choose to personalize your home. However, options that personalize are not always the options that add value.
One of the best ways to decide on upgrades is to ask the builder how much other buyers are spending on upgrades, as well as the type of upgrades. Remember, when you go to sell your home, you will be competing with other homes in the nieghborhood that are very similar in construction to your home. Upgrades can often make the difference in the mind of a … (0 comments)
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new jersey homes: Sellstate Access Realty (How to Evaluate Professional Movers) - 07/16/08 07:35 AM
I know that the thought of packing and moving your entire household can be somewhat daunting. Having a professional mover, gives you time and energy to concentrate on other aspects of your relocation.
The first thing to keep in mind is that not all professional movers are alike. Choosing a reputable company will save you time and money, not to mention peace of mind! I always recommend to my clients that they check with the Better Business Bureau to see if there have been any complaints logged against the moving company.
Next, you'll need an estimate of the costs. For local … (0 comments)
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new jersey homes: Sellstate Access Realty (Fed draws up new rules for mortgage lenders) - 07/15/08 07:13 AM
The Federal Reserve Board Monday unveiled rule changes intended to curb deceptive mortgage lending practices, most of which will take effect in October 2009 and apply to all lenders whether they are supervised at the state or federal level.
Although lenders have drastically cut back on the subprime loans targeted by the most restrictive of the new rules, the rules could also apply to some jumbo mortgages and alt-A loans that carry high interest rates and hamper the recovery of lending to borrowers with blemished credit.
The most stringent new rules put forward by the Fed apply only to high-interest-rate loans. … (3 comments)
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new jersey homes: Sellstate Access Realty (More loan servicers resorting to auctions) - 07/12/08 09:21 AM
Six out of 10 loan servicers are resorting to auctioning off real-estate owned properties, despite evidence that they may see bigger losses than if foreclosed homes are marketed and sold in a more traditional fashion, according to a report by Fitch Ratings.
Inventories of real-estate owned (REO) properties more than quadrupled from the end of 2005 to the end of 2007, Fitch analysts said. To get properties off their books and reduce long-term carrying costs, more servicers are resorting to auctions, the report found.
"Fitch believes that the use of auctions will continue to increase as servicers are faced with growing … (0 comments)
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Joseph Romano
Somerville,
NJ
More about me…
NJ Realty Systems LLC
Address: 87 West End Avenue, Somerville, NJ, 08876
Office Phone: (800) 455-2059 x 101
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