View all Barclay Farms Homes for Sale.   In an ongoing effort to be local in scope, I will include various local neighborhoods' currrent active homes for sale.  With many Buyers focusing on not just an area or township, but a particular neighborhood or development, I hope to provide you with useful targeted information.  If you have a chance check out the latest market insider information as well.  It contains neighborhood and School information so important to making the right real estate decisions.

Located in Cherry Hill Twp. is the neighborhood of Barclay Farms.  Located with easy access to Route 70 and Route 295, these affordable homes and neighborhood are right out of a Norman Rockwell painting.  Enjoy award winning schools.  To see all current actives, some as low as $164,900 see below.

View Active Barclay Farm Homes for Sale 

As always, please do not hesitate to call or email with any questions.

Best Regards,

Alan

I am extremely excited to announce that the Jeff Onofrio who is the  Director of Renovation Lending from Annie Mac Home Mortgage,is on board with us to be a featured contributor. As a nationally known 203k renovation loan expert, Jeff will be able to provide insights to our local customers about a loan product that is under utilized and has endless potential. Jeff is a Southern New Jersey resident, Jeff knows the local market and is available to not only help customers but realtors as well.

In creating this site, I was hoping to be able to keep our readers well informed of all of the available loan options. Jeff Onofrio will be able to show you how you can take advantage of the 203k product in several different ways. The current housing market has left an abundance of distressed sales ( short sales and foreclosures ), and with Jeff Onofrio's 203k renovation lending posts we will be able to have you prepared and expectations set for this loan product.

One of the key items that you will notice Jeff Onofrio writing and talking about in his blogs is that working with experienced professionals is essential. A lot of people just end up using some one they know that is a mortgage or real estate professional but if they have zero experience working  with this loan product, then that can make the whole process a lot more stressful. Bryan Vurgason from Keller Williams is a Cherry Hill, NJ based agent who is also able to represent clients in PA as well is experienced with 203k loans and will also be able to contribute to our readers about this loan product.

Let's take a look at Jeff's recent video blog on 203k loans and First Time Home Buyers:

http://www.youtube.com/watch?v=IfCgD4U5P_g

Jamie Russen Licensed Loan Originator, NMLS # 95705

Jrussen@annie-mac.com 700 East Gate Drive, Suite 400 Mount Laurel, NJ 08054 Tf: 866.312.6682 Ext. 386 Ph: 856.505.6718 Mob: 856.952.3070 Fx: 866.302.4621 www.anniemac-mortgage.com

www.facebook.com/homebuyerresourcecenter

If you are either looking to purchase a home or possible rehab your existing home, it is important to know the repairs you can do with an FHA 203k loan. It is not breaking news to hear that the market is flooded with homes that need work. The difficulty that potential home buyers are having is looking past the existing state of the property. Knowing the eligible repairs before you go out to see the homes will help you visualize the home in its future state. Also there are a lot of existing home owners who lost equity in their home over the past few years and by knowing the repairs that be be financed in with an FHA 203K loan will help them re-gain their lost equity.

FHA 203K Streamline Eligible repairs ( $35,000 in total repair cost )

• Repair/Replacement of roofs, gutters and downspouts
• Repair/Replacement/upgrade of existing HVAC systems
• Repair/Replacement/upgrade of plumbing and electrical systems
• Repair/Replacement of flooring
• Minor renovation, such as kitchens & baths, which do not involve structural repairs
• Painting, both exterior and interior
• Weatherization, including storms windows and doors, insulation, weather stripping, etc…
• Purchase and installation of appliances, including free-standing ranges, refrigerators and microwave ovens
• Septic system and/or well repair or replacement
• Accessibility improvements for persons with disabilities
• Lead-based paint stabilization or abatement of lead-based paint hazards
• Repair/replace/add exterior decks,patios, porches

• Basement finishing and renovation that does not involve structural repairs
• Basement waterproofing
• Window and door replacements and exterior wall re-siding

Here are some examples of Ineligible Improvements with FHA 203K

• Renovation involving structural changes, like moving a loan-bearing wall, or new construction, like adding rooms
• Landscaping or fencing
• Work that will not start within 30 days of loan closing or will cause the borrower to be displaced from the home for more than 30 days or renovations that will take more than 6 months to complete
• Luxury items like swimming pools, hot tubs, tennis courts, etc.

The second type of FHA 203K is referred to as the FHA 203K Standard. ( $35,000 and above ) Below is a list if of improvements that borrowers are able to complete:

• All of the improvements listed in the eligible improvements for a streamlines 203(k)
  
• Structural alterations and reconstruction, like room additions, repair of termite damage, major remodeling of kitchens and bathrooms, finishing an attic or basement, adding a second story to a home, etc
• Major landscaping and site improvement including correction of grading and drainage problems, tree removal and repair of sidewalks and driveway, if they are safety hazard to the property

Jamie Russen Licensed Loan Originator, NMLS # 95705

Jrussen@annie-mac.com 700 East Gate Drive, Suite 400 Mount Laurel, NJ 08054 Tf: 866.312.6682 Ext. 386 Ph: 856.505.6718 Mob: 856.952.3070 Fx: 866.302.4621 www.anniemac-mortgage.com

www.facebook.com/homebuyerresourcecenter

Mortgage rates are falling, falling, falling.

On a wave of uncertainty about Greece and its debt; and weaker-than-expected economic data at home, conforming 30-year fixed rate mortgage rates have fallen to levels not seen since December 2, 2010.

Mortgage rates have dropped 8 weeks in a row. Not even last year’s Refi Boom produced an 8-week winning streak. This season’s streak is historic.

The 30-year fixed rate mortgage now averages 4.49% nationally, down 42 basis points, or 0.42%, since early-April. For every $100,000 borrowed, that equates to a monthly savings of $25.24.

Adjustable-rate mortgages have shed even more, giving back 50 basis points since the streak began.

Because of low rates, it’s an excellent time to buy or refinance a home relative to just a few weeks ago. Note, though, that depending on where you live, you may find your quoted interest rates to be slightly higher or lower than what Freddie Mac reports in its survey. This is because the Freddie Mac figure is a national average.

Mortgage rates and fees vary by region:

• Northeast : 4.49 with 0.6 points
• Southeast : 4.52 with 0.8 points
• North Central : 4.52 with 0.6 points
• Southeast : 4.52 with 0.6 points
• West : 4.45 with 0.8 points

You’ll notice that, in the West Region, rates tend to be low and fees tend to be high; in the North Central Region, the opposite is true.

Is there a particular rate-and-fee setup that suits you best? The good news is that you can ask for it — no matter where you live.

If having the absolute lowest mortgage rate is more important to you than having the absolute lowest fees, ask your loan officer to structure your loan in the “West” style. Or, if low costs are more your style, ask for them.

Mortgage rates appears as if they’re headed lower but don’t forget how quickly markets can change. Once they do, mortgage rates should spike. Exploit today’s market while you still can.

Jamie Russen Licensed Loan Originator, NMLS # 95705

Jrussen@annie-mac.com 700 East Gate Drive, Suite 400 Mount Laurel, NJ 08054 Tf: 866.312.6682 Ext. 386 Ph: 856.505.6718 Mob: 856.952.3070 Fx: 866.302.4621 www.anniemac-mortgage.com

www.facebook.com/homebuyerresourcecenter

Single-family housing starts dropped by 21,000 units in April on a seasonally-adjusted annual basis.

The Housing Starts report measures the number of homes on which new construction "broke ground". It's tracked by the U.S. Department of Commerce which releases new data monthly.

Single-family housing starts fell 5 percent as compared to March 2011, and 30 percent as compared to April one year ago. 

The figures were worse than what Wall Street expected. For just the second time in 2 years, monthly single-family housing starts dropped below 400,000 units. In addition, single-family Building Permits fell in April as well, shedding 2 percent from March.

A building permit is a local government's approval to start home construction and when permits are down, new construction follows. This is because 93 percent of homes begin construction within 60 days of permit-issuance.

Fewer permits, as a consequence, means fewer new homes. Therefore, if you're looking at new construction in or around Voorhees , April's numbers may spark a sense of urgency.

Home prices are a function of home supply and demand and, based on the Housing Starts data, supplies appear headed for a fall. Meanwhile, on the other side of the equation, demand should be rising - foot traffic is higher, mortgage rates are lower, and job growth is picking up. 

This should lead new home prices higher in time. For now, though, home affordability remains high.

It's a good time to look at new home construction.

Jamie Russen Licensed Loan Originator, NMLS # 95705

Jrussen@annie-mac.com 700 East Gate Drive, Suite 400 Mount Laurel, NJ 08054 Tf: 866.312.6682 Ext. 386 Ph: 856.505.6718 Mob: 856.952.3070 Fx: 866.302.4621 www.anniemac-mortgage.com

www.facebook.com/homebuyerresourcecenter

Foreclosure activity continues to drop nationwide.

Based on data from foreclosure-tracking firm RealtyTrac, foreclosure filings nationwide fell below 220,000 in April 2011, a 9 percent decrease from March.

A "foreclosure filing" is defined as any foreclosure-related action including Notice of Default, Scheduled Auction, or Bank Repossession.

April marks the seventh straight month in which foreclosure filings have dropped and total filings are down more than one-third year-over-year.

One reason why filings are down is that banks are letting more time pass between delinquency and foreclosure, exploring alternative courses of actions such as short sales and loan modifications. It now takes, on average, 400 days from an initial default notice to bank repossession.

That's more than double the 151-day average of early-2007.

Another reason may be that job growth is returning to the U.S. and job creation is associated with fewer home loan defaults.

Regardless, in the states in which foreclosures are occurring, bank repossessions are concentrating among just a few. 

5 states accounted for half of the country's April REO:

• California : 19.8 percent
• Arizona : 9.5 percent
• Michigan : 7.5 percent
• Florida : 6.7 percent
• Texas : 5.6 percent

Collectively, these 5 states represent just 32 percent of the nation's population.

On the other end of the chart, Vermont accounted for a measly 0.007% of April's foreclosure filings.

If you're a first-time home buyer considering foreclosed homes in Collingswood , or a seasoned investor adding to your portfolio, the good news is that foreclosures are selling at steep, 20 percent discounts relative to non-distressed homes. Just make you know what you're buying. Foreclosure purchases carry different risks and follow different procedures than "traditional" sales.

Rely on a seasoned real estate agent to navigate the deal.

Jamie Russen Licensed Loan Originator, NMLS # 95705

Jrussen@annie-mac.com 700 East Gate Drive, Suite 400 Mount Laurel, NJ 08054 Tf: 866.312.6682 Ext. 386 Ph: 856.505.6718 Mob: 856.952.3070 Fx: 866.302.4621 www.anniemac-mortgage.com

www.facebook.com/homebuyerresourcecenter

A major thing to consider these days before starting your next home improvement project is if the cost to do the work will be reflected in your homes value. This is even a more important if you think you may be listing your home for sale in the near future.

Who is doing the actual work? A major expense in a home improvement project is the labor cost. If you are doing all or the majority of the work,You are more likely to have a project that adds more value than cost to your home.

• Is your home dated? The kitchen and bath area's are the quickest way to make your home look more modern and will absolutely help your home sell. It is possible to not get a full return on your investment here but updating these areas will help your home sell faster.
• Finish the unfinished. A great way to add value is increasing your homes GLA ( gross living area ) If you have an unfinished basement, a remodel which finishes off some portions of the basement can greatly increase the value of your home. By finsinshing a basement you will not increase your finished living space.
• Improving your homes curb appeal. The most important impression of your home to a potential buyer in most cases is the first one. Any thing to help improve your homes curb appeal will help that first impression be a positive one. Once you catch their attention initially they may be more willing to over look an aspect that they may not like so much. First impressions are key!
• Added value. As mentioned several times already, the key is to add more value to your home than you do costs. Most remodels do not recoup 100% of their costs. In other words, they do not add the same amount of value to the home as they do in costs.
• Cost vs Value Report. In 2005 the National Association of Realtors created a report to help home owners compare the costs of different home improvement projects with the added value the project would give the home. It also listed the information as it related to different areas of the country. This report can come in handy when deciding which home improvement projects are most profitable.
• Real Estate Appraisal - Real estate appraisers have a set of factors that they use for determining a home's overall market value. A real estate appraiser would be able to give you an idea how much value a particular home improvement project would add to your home.
• Energy savings. If your home improvement projects includes energy savings that it is important to compare the cost of the project to the monthly savings you will see in energy costs.

This is just a list of things I put together to help you decide if you feel the project is worth the cost to complete it. One factor that you cannot weigh here is the enjoyment your family would get out of the improvement.

Jamie Russen Licensed Loan Originator, NMLS # 95705

Jrussen@annie-mac.com 700 East Gate Drive, Suite 400 Mount Laurel, NJ 08054 Tf: 866.312.6682 Ext. 386 Ph: 856.505.6718 Mob: 856.952.3070 Fx: 866.302.4621 www.anniemac-mortgage.com

www.facebook.com/homebuyerresourcecenter