Existing-Home Sales Hit 5-Month High - 09/30/08 07:17 PM
Existing-home sales rose in July to the highest level in five months, although they continue to be well below the numbers from last year at this time, according to the National Association of REALTORS®.
Existing-home sales - including single-family, townhomes, condominiums and co-ops - increased 3.1 percent in July to a seasonally adjusted annual rate of 5 million units from a downwardly revised level of 4.85 million in June. Sales were 13.2 percent lower than the 5.76 million-unit pace in July 2007.
NAR President Richard F. Gaylord, said the up-and-down pattern may break soon.
"We hope the new tools in the … (0 comments)

The Potential Effects of the Fannie-Freddie Bailout - 09/27/08 11:45 AM
 
              The federal government, through an agency called the Federal Housing Finance Board, is taking over the management and control of Fannie and Freddie in hopes of stabilizing the housing and financial markets.  Here is what some experts have to say about the potential benefits and pitfalls of this bailout.
            "The current lack of mortgage bond buyers in the market has dried up liquidity for mortgage lenders, driving mortgage rates higher, "says Gibran Nicholas, chairman and chief executive of the CMPS Institute in Ann Arbor, Michigan, and a certified mortgage planning specialist.  "Now that the U.S. government will be … (1 comments)

The Debate About the Mortgage Giants' Future – W.G. - 09/27/08 11:42 AM
 
 Now that the government has taken control of America's two largest mortgage finance companies, Fannie Mae and Freddie Mac, three camps are arguing about how to overhaul the companies when the crisis is over.  Before going into conservatorship, Fannie Mae and Freddie Mac were in the unique position of being publicly traded corporations while also receiving a government subsidy.  Critics of this position said that this enabled the companies to privatize their profits while socializing their risks, and proponents saw it as the companies harnessing money from private investors in order to make mortgages more affordable for more of the … (0 comments)

New Fed Rules to Prevent Future Runs on Bad Loans - 09/23/08 04:24 PM
The Federal Reserve Board has amended the "Truth In Lending Act," Regulation Z under the "Home Ownership and Equity Protection Act (HOEPA)."  Originally passed in 1994, HOEPA targets abusive practices in home equity lending.  The Fed now extends the Act's protections to include home purchase loans.  Effective October 1, 2009, these new rules should help prevent future runs on bad loans.  The new rule's four key provisions include protections that:
Prohibit a lender from making a loan without regard to borrowers' ability to repay the loan from income and assets other than the home's value.  Lenders must more closely scrutinize a … (1 comments)

Moving Away From Heavy Gasoline Use - 09/19/08 12:28 PM
With a gallon of gasoline costing around $3.75, up more than a dollar from a year ago, affordable housing isn't just a measure of your mortgage and related expenses, but also the cost of transportation to and from work, school, stores, and all the other locations you regularly travel.  The closer you live to these destinations, the less money you'll spend on gasoline.
If you want to reduce your gasoline usage (and the associated high costs) consider moving to a transit oriented development (TOD).  TODs are communities designed to encourage compact growth around transit stops.  They include pedestrian-friendly development with easy … (0 comments)

What the Housing and Economic Recovery Act of 2008 Means for You - 09/18/08 12:52 PM
The time has never been better to buy your first home.  The Housing and Economic Recovery Act of 2008 grants first-time homebuyers (or homebuyers who have not owned a principal residence during the three-year period prior to their home purchase) up to a $7,500 tax credit if the purchase is completed between April 9, 2008 and July 1, 2009. 
There are certain income requirements. But even if you are over the modified adjusted gross income level of $95,000 (single) or $170,000 (married), you may be able to receive partial tax credits.  Just claim the tax credit on your federal income tax … (0 comments)

Sell Faster by Thinking Like a Buyer - 09/17/08 04:06 PM
Your home never has a second chance to make a first impression.  A buyer's first impression will generally be their most lasting, and you want your home to show off its assets so that you can make a quick sale for as close to full price as possible.  Keep things simple, stick with the basics, and think like a buyer to accomplish this goal. 
Eliminate all clutter, clean deeply, and let in the light.  Stick with neutral paint colors, and repair anything worn, torn, or broken.  You want the buyer to walk in and immediately be able to see your home … (0 comments)

Selling a Home with a "Get It Done" Attitude - 09/16/08 01:23 PM
Looking to sell your home takes a "Get It Done" Attitude. Here are some ways to help attain and sustain a positive outlook and help increase your chances of selling your home in today's market on your terms.
Find the Right Agent. Selling a home is different than buying a home and a seller who means business knows this. Look for an experienced agent who specializes in listing and selling, they will often go by "Selling Agent" or "Listing Agent". These agents will be able to market to both other agents and to homebuyers for you, which will increase your odds … (0 comments)

10 Tips to Make Moving Day a Memorable and Carefree Day - 09/16/08 01:18 PM
By planning ahead you can avoid some pitfalls that may put a damper on your moving experience. Here are some tips on planning a moving day that will go off without a hitch so you are left with time to enjoy the experience.
Take Care of Your Real Valuables Yourself. If you have things that are truly irreplaceable to you, or are of great personal value, take the necessary additional steps to ensure that these items get to the destination preserving your piece of mind. Anything you would keep in a safe - then keep it safe through a move with … (0 comments)

August Home Sale Prices - 09/05/08 12:57 PM
Smart buyers kept home sales strong through the usually quiet month of August, locking in their mortgages at the current low rates. If you’ve been waiting to "time the market", you might want to move quickly to avoid rate increases and to capitalize on a rare gift from the Federal Government: you can now borrow up to $729,750 without tipping into the more expensive “jumbo” category. In January, that maximum is scheduled to fall back to $417,000. This is a great time to buy! We’re on our way back up from a market bottom that had far less impact on our … (0 comments)

Painting the Vision of a Perfect Home Sale - 09/04/08 02:13 PM
In the perfect vision, buyer meets seller, buyer loves the home the seller has to offer, buyer has the resources to purchase the home, buyer buys the new home, and both buyer and seller leave the transaction with a good feeling and with the feeling of getting a good deal. 
So where does this whole process start? According to expert John Peek, President and owner of Peek Brothers Contractors, " Getting your home ready to close the deal, for the most money, starts with knowing where to begin, and, often, that means quite literally, you need to paint the perfect sale." 
… (1 comments)

Beat the Housing Market Trends and Buy or Sell a Home - 09/03/08 07:02 PM
Plan/Prepare
The home-selling process typically starts several months before a property is made available for sale. It's necessary to look at a home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired and tossed out.
Ask yourself: If you were buying this home what would you want to see? The goal is to show a home which looks good, maximizes space and attracts as many buyers - and as much demand - as possible.
Get a Pre-listing Inspection
Having your home inspected by a professional home inspector before you list is a recommendation … (0 comments)

 

Margaret "Maggee" Miggins

Short Hills, NJ

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Keller Williams

Address: 488 Springfield Avenue , Summit, NJ, 07901

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