buying a home in new jersey: NJ First Time Home Buyers
- 06/23/09 03:03 AM
NOW IS A GREAT TIME FOR FIRST TIME HOME BUYERSTO TAKE ADVANTAGE OF NEW JERSEY HOME OWNERSHIP!!! First-time home buyers have until December 1, 2009 to purchase their principle residence to take advantage of the Home Buyer Tax Credit.
The National Association of Realtors (NAR) has a very valuable website: http://www.housingmarketfacts.com/ with easy to understand question and answers for first-time New Jersey home buyers. With historically low interest rates today (yes we are seeing them start to creep up!) and affordable housing prices in the key Midtown Direct communities of South Orange, Maplewood, Millburn/Short Hills, Summit, Chatham, Madison, Montclair, Glen Ridge and Westfield, as well … (0 comments)
buying a home in new jersey: Will I Be Able To Get A Mortgage?
- 10/04/08 01:37 AM
I sold two houses in between the Senate and the House votes this week and the big question by both the buyers and the sellers was: Will we get a mortgage? YES. With the right lender. The housing market is unstable. Confusion reins on both sides of the table. Steve Lupton of MetroCities Mortgage helped put it in perspective for me: "The Chinese have a proverb: "May you live in interesting times." And we are living through interesting times indeed.Whatever the political posturing regarding the rescue plan, a plan needed to be passed. Credit markets are frozen and banks are … (0 comments)
buying a home in new jersey: Now is the Time to Buy a NJ Home
- 03/19/08 09:30 AM
New Jersey Home buyers will learn alot from this RISMedia article that helps home buyers assess the current market objectively: Many of the issues faced around the country have affected us here in New Jersey as well. Smart Home Buying Today Will Help You Realize a Sound Investment Tomorrow. If you need help in assessing the real estate market along New Jersey's Midtown Direct Train line and want to purchase a home within twenty minutes of NYC, please contact Perri K. Feldman at 973.650.4727 or visit New Jersey Real Estate Wire. … (0 comments)
buying a home in new jersey: Benefits to NJ Home Buyers from New Loan Limits
- 03/08/08 03:05 AM
New Jersey Home Buyers should benefit from the new FHA and Fannie Mae-Freddie Mac conforming loan limits released by the US Department of Housing & Urban Development on March 6, 2008. The new loan limits for FHA and Fannie Mae-Freddie Mac are now calculated at 125% of the HUD published median prices, with a floor of $271,050 and $417,000, respectively, not to exceed $729,750. To find out about your own area visit New Jersey Real Estate Wire The impact of these loan limit increases on the New Jersey housing market could be significant. Lower interest rates across the board should result with this infusion … (0 comments)
NJRealEstateWire Invites You to Search Here For Your New Home in NJ Through The Garden State MLS FOR FREE … (0 comments)
buying a home in new jersey: Facts About New Jersey
- 02/07/08 05:32 AM
Every couple of months I get this email about New Jersey "truisms" that this Jersey Girl can appreciate...so I thought I would share it with you. This latest email came from Debbi out of Blaine, Minnesota from my Millburn High School graduating class (way back when.) Facts about NJ If you've ever lived in Jersey...you'll appreciate this!!! New Jersey is a peninsula. Highlands, New Jersey has the highest elevation along the entire eastern seaboard, from Maine to Florida. New Jersey is the only state where all of its counties are classified asmetropolitan areas. New Jersey has more race horses than Kentucky. New Jersey has more Cubans in … (2 comments)
buying a home in new jersey: Can You Afford More Home in New Jersey?
- 01/23/08 01:02 AM
Tuesday, January 22, 2008 Fed Lowered Interest Rates and New Jersey Home Buyers May Benefit Steve Lupton of Metrocities Mortgage Sent Me the Following Alert I Wanted to Share: NEWS ALERT!!!! 1. Today, the Fed lowered both the Fed Funds Rate and the Discount Rate by 75 basis points. This unusually aggressive move is an acknowledgement that equity and credit market issues are threatening growth in the real economies throughout the world. 2. As of Friday Jan 18th, all of the S&P gains from 2007 were erased and equity markets world wide are in a "bear market" (down 20% off their highs) 3. Since these Fed rate cuts … (0 comments)
buying a home in new jersey: New Jersey Home Sales in December
- 01/10/08 01:40 PM
Homes continued to sell in New Jersey during December 2007. Prices were down about 11% from the previous month. Average Days on Market (DOM) were only two months in December versus three months in November. Why? Sellers realized that well priced homes will sell and Buyers took advantage of year end "specials." Below are the December (12/1/2007-12/31/2007) closed sales of single family homes provided by the Garden State MLS. December 2007 HOME SALES For additional insight visit New Jersey Real Estate Wire and Midtown Direct Homes … (0 comments)
buying a home in new jersey: Requirements on Jumbo Loans Just Got Tighter From Wells Fargo
- 01/07/08 09:35 AM
Wells Fargo is tightening the guidelines on a regular basis. You may not be in a distressed area but the guidelines are much tighter then 6 months ago and far tighter versus a year ago. Wells Fargo has increased the FICO requirement on jumbo loans from 620 to now a minimum score of 680. The max DTI went from 50% down to 45%. I know Wells Fargo is usually the front runner in jumbo pricing so if you are quoting a rate to your borrower please make sure this announcement does not eliminate your borrower from going to Wells. They also have changes … (8 comments)
NOW IS A GREAT TIME FOR FIRST TIME HOME BUYERSTO TAKE ADVANTAGE OF NEW JERSEY HOME OWNERSHIP!!!
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