mercer co real estate: Should you Default on your Hamilton NJ Mortgage? - 08/27/10 03:03 PM
It seems like every day I meet someone who is having trouble paying his or her mortgage.  When it becomes a choice of buying food for your family, or clothes, or making that payment, the choice is not easy.  Marion Anthony recently published an article on the 5 Common Questions Homeowners Have about Default.  Here are some highlights.
"1.  Should I intentionally default on my home mortgage?Today, many people are ‘intentionally' or ‘strategically' defaulting because cash is more valuable than credit.  Rather than defaulting, the best thing to do is use the Section 702 program of the Obama act, which allows … (0 comments)

mercer co real estate: Lawrenceville, NJ - Colonial Lakes - Bunker Hill Ave - SOLD - 08/27/10 07:47 AM
Beautiful restored Dutch Colonial located on a shady tree-lined street. This home has recently been updated and features new siding, roofing, replacement windows, modern kitchen with oak raised panel cabinetry, granite countertops, and tile flooring.  The living room could be used as dining room, and there's a family room with fireplace. Original restored shining oak hardwood flooring through out the first floor rooms. New carpeting in all three bedrooms. This home has the charm of yesteryear, reflecting historic features but offering modern amenities, and is close to the recreational opportunities of Colonial Lake Park.
Overview Maps Photos Features Description About Mercer … (0 comments)

mercer co real estate: Buyer Traps to Avoid when you Purchase a Home in Mercer County NJ - 08/12/10 03:19 PM
No matter which way you look at it, buying a home is a major investment. But for many New Jersey homebuyers, it can be an even more expensive process than it needs to be.  Don't fall prey to the many common and costly mistakes which can trap you, such as:
paying too much for the home you want losing your dream home to another buyer (worse) buying the wrong home for your needs A systemized approach to the homebuying process in Mercer County can help you steer clear of these common mistakes, allowing you to not only cut costs, but also secure the home that's … (0 comments)

mercer co real estate: New Jersey Buyers - a Timeline for a Fast Close - 08/05/10 02:29 PM
Real estate experts often refer to the impact and strategies of "motivated sellers," but the needs of motivated buyers are seldom addressed. New Jersey home buyers can have many motivations for wanting to buy quickly: a desire to take advantage of low interest rates, the need to address their housing situation before starting a new job or school, or to prepare for the arrival of a new family member. Whatever your individual reason, smart planning is the trick if you're in the position of buying on a tight schedule.  Here's how to move the process along for your timetable.
1.  Establish … (0 comments)

mercer co real estate: Beware Short Sale Scams in Mercer County, NJ - 08/05/10 02:08 PM
NewsGeni.us recently ran a story about the scams targeting sellers who are in short sale situations.  While geared for Florida, we in Mercer County and surrounding communities in New Jersey have our share of homes valued below what the owners paid.  Here are some possible scams.
1.  Bogus Realtors - check credentials if a realtor offers to help with your short sale.  We all have to be licensed by the state.2.  If someone asks you to sign over your home - call the state attorney general's office.
3.  If someone asks for a big upfront fee - ditto, call right away. 
… (0 comments)

mercer co real estate: Mercer County NJ Sales Report for July - 08/03/10 12:47 PM
While total sales decreased in July, rates hit historic lows week after week, so the buying power of buyers has increased substantially this year.  That means more house for the money and long-term savings.  My next blog will explore reasons why buyers should not wait to invest in this market.Here are the real estate sales for the various townships and boroughs in Mercer County, for single family homes in July, 2010.  There are a lot of areas in Mercer County, so the easiest way to represent all the homes sold is by place.  I can run a similar report for you of … (0 comments)

mercer co real estate: Real Estate Scams - Mercer Co NJ is not Immune - 07/29/10 01:20 PM
Realtor.Mag recently published a valuable article on real estate scams and mortgage fraud.  If you work with a reputable Mercer County Realtor and check references for your lender, you may be able to protect yourself.  But be aware of these schemes.
"Mortgage fraud is pervasive: An estimated $4 billion to $6 billion in annual losses result from mortgage fraud, according to FBI reports. 'An entire community can be damaged by mortgage fraud,' says Rachel Dollar, a lawyer from Santa Rosa, Calif., and editor of the Mortgage Fraud Blog. Mortgage fraud can lead to a spike in foreclosures, home values plummeting, and lenders … (0 comments)

mercer co real estate: Architectural Styles Found in Hamilton Twp and Mercer County NJ - 07/23/10 06:45 AM
We have a lot of different architectural styles in our area of New Jersey, from homes on the National Historic Register to new construction.  We tend to call them all "colonial" but as this pictorial post shows, there are several ways to describe our architectural diversity.
Take a look at "Can You Name that Architectural Style" and get some ideas for your next home.
… (0 comments)

mercer co real estate: Military Home Buyers in Mercer County - Don't Lose your Tax Credit - 07/23/10 06:37 AM
The extension for miliary buyers passed by Congress last year is not widely known, so here is some information from IRS.gov.
" The Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. "There are new benefits for members of the military and certain other federal employees:
Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into … (0 comments)

mercer co real estate: Six Tips for Mercer County NJ Home Sellers in this Challenging Real Estate Market - 07/08/10 10:41 AM
In a down economy, sellers must compete not only with other homes in the market, but also with buyer's fears and concerns. Selling incentives have always been a way to create additional interest in your property. Today, incentives can help motivate reluctant buyers to make that next step in the face of the present environment.Here are a few of the more common incentives that can be used to draw attention to your home.
1. Paying PointsLenders charge fees known as points, with each point equal to 1% of the total loan amount. The base fee charged (called origination points) typically ranges between … (0 comments)

mercer co real estate: Mercer County NJ Home Sales Increased Dramatically in June - 07/04/10 03:56 AM
Here are the real estate sales for the various townships and boroughs in Mercer County, for residential sales in June, 2010.  There are a lot of areas in Mercer County, so the easiest way to represent all the homes sold is by place.  I can run a similar report for you of condo sales by development - just let me know if that is your interest.  Contact me for details of any Mercer County or Hamilton, New Jersey community real estate activity.
Summary: The Mercer County NJ real estate market stayed very busy in June.  The numbers speak for themselves, as sales in almost every area increased substantially … (0 comments)

mercer co real estate: New Jersey Real Estate Investors should be aware of these 4 Housing Market Myths - 06/24/10 02:52 PM
Zillow's Chief Economist, Dr. Stan Humphries, presented, with Doug Duncan, chief economist for Fannie Mae, and Bob Bach, chief economist for Grubb & Ellis, the "Four Myths of the Housing Market" at the recent National Association of Real Estate Editors (NAREE) conference in Austin, TX.  As reported by RISMedia, here are their conclusions.
"1. The housing recession is overWhile home sales have reached a bottom, home values have not, and likely will not bottom out until Q3 of 2010. Zillow's April data shows that, nationally, home values fell 4.1% year-over-year, 1.1% quarter-over-quarter and 0.4% month-over-month.
"2. We'll see a return to historical … (0 comments)

mercer co real estate: Hamilton NJ Sellers - Why You Shouldn't Overprice Your Home for Sale - 06/16/10 05:10 AM
One of the most common and costly mistakes made by home sellers is setting an unrealistically high asking price. Every seller wants to receive the highest closing price possible for their house, but losing sight of fair market value can have serious repercussions.
In some cases a lack of objectivity results in overpricing the home, other sellers may subscribe to the theory that pricing high initially leaves room to negotiate lower later. Overpricing from the outset could actually force you to end up settling for a lower price than you would have received by setting a realistic asking price initially, based … (0 comments)

mercer co real estate: New Jersey in Top 3 for Home Sales Nationwide in 1st Quarter - 05/21/10 09:56 AM
As reported by the National Assn of Realtors (NAR), New Jersey is one of only three states that saw positive growth in sales volume from the fourth quarter of 2009 to the first quarter of 2010.  Sales of previously owned homes were up 6.8% from the previous quarter.
As reported by the Daily Journal, "New Jersey's growth in homes sales bucked both the national trend, where sales growth diminished by 14%, and the Northeast regional trend, where sales volume dipped by 17.7%. Indeed, the quarter-to-quarter growth in real estate sales in New Jersey, at 6.8%, was the best growth in the nation … (0 comments)

mercer co real estate: Final Analysis on Effects of the Homebuyer Tax Credit - 05/06/10 03:48 PM
NewsGeni.us recently ran an excellent summation of the Pros and Cons of the government's homebuyer tax credit programs, which expired April 30.  Some facts:
Tax policy experts charge much of the $12.6B in credits went to unqualified buyers. IRS audit confirms more than 70,000 taxpayers had improperly claimed tax credit. Treasury Dept. Inspector General for Tax Administration J. Russell George found one tax credit application submitted by four-year-old. Through February, the government approved a total $12.6 billion in tax credits. Some opinions:
Sen. Johnny Isakson (R-GA) praises program for pushing buyers to do deals now instead of later. Tax Credit helped … (0 comments)

mercer co real estate: Hamilton, NJ: Selling a Home in Mercer County this Spring - 05/01/10 02:55 PM
The buyers' tax credit has ended, and now sellers need to get back to basics and rethink their approach to finding ways to move their properties.  With my Mercer County experience, I can help you with my marketing expertise and local experience, but here are 4 ideas to get you planning for a sale.
1.  Real estate pricing is local.  When you do your own real estate market analysis online, or shop Realtors and ask several for a CMA (Comparative Market Analysis), you want sales in the last three months and as close to your neighborhood/community as possible. 
2.  Photos are more … (0 comments)

mercer co real estate: Hamilton, NJ: Selling a Home in Mercer County this Spring - 05/01/10 02:55 PM
The buyers' tax credit has ended, and now sellers need to get back to basics and rethink their approach to finding ways to move their properties.  With my Mercer County experience, I can help you with my marketing expertise and local experience, but here are 4 ideas to get you planning for a sale.
1.  Real estate pricing is local.  When you do your own real estate market analysis online, or shop Realtors and ask several for a CMA (Comparative Market Analysis), you want sales in the last three months and as close to your neighborhood/community as possible. 
2.  Photos are more … (0 comments)

mercer co real estate: Your FICO Score and Buying a New Jersey Home - 04/22/10 10:11 AM
Most banks in the country use FICO scores to decide what and how much credit you can have and at what rate.  Insurance companies use FICO scores to help rate your insurability.  According to the FICO's testimony before a House Financial Services Committee, FICO scores are used in about 10 billion decisions worldwide each year.
Finance.Yahoo.com recently posted an excellent article on understanding your FICO score.  The scoring system is a secret, but what makes up the score is open knowledge - there are 5 components, each weighted differently.  "FICO scores give the most attention to how you have paid back lenders … (0 comments)

mercer co real estate: Hightstown, NJ: Wyckoffs Mill - Short Sale - Mill Run East - SOLD - 04/19/10 02:41 PM
120 Mill Run East in Hightstown is a charming 2 bedroom, 2 full bath corner unit on the second floor, located in desirable Wycoffs Mill.  This is a great starter home featuring a fully a updated kitchen with new granite counter tops and cabinets, stainless steel appliances, and tile flooring. The spacious living room/dining room combination with cathedral ceilings features a large half circle and bay window that bring in all natural sunlight. Wall-to-wall carpeting, a wood-burning fireplace with marble surround, new vinyl windows with new window treatments are more of the updated touches in this unit. Walk out to a … (0 comments)

mercer co real estate: Sales Statistics for Mercer County NJ - March, 2010 - 04/10/10 01:02 PM
Here are the real estate sales for the various townships and boroughs in Mercer County, for single family homes in March, 2010.  There are a lot of areas in Mercer County, so the easiest way to represent all the homes sold is by place.  I can run a similar report for you of condo sales - just let me know if that is your interest.  Contact me for details of any Mercer County or Hamilton, New Jersey neighborhood real estate activity.
Real Estate Sales for Mercer County, March, 2010: Single Family Homes
*Hamilton Township60 homes sold in March, with a low price of … (0 comments)