dear tz: Dear TZ: What's the difference between and Condo and Co-Op? - 06/27/17 10:17 AM
Dear TZ,
We've been thinking about purchasing an investment property.  Our thought was an apartment in a condo or co-op, what's the difference?  Is this a smart move?
Signed: Itchy Investors
Dear Itchy,
Investing in Real Estate can be very rewarding, but it also has its challenges and like any investment, there are NO guarantees.  You could find a great rental property or you could lose money on your investment. We suggest to always consult with your Accountant and Financial Planner as well as your local Real Estate Professional before purchasing any investment property.  So hopefully that answers your second question. 
As for the first question: … (1 comments)

dear tz: Dear TZ - Our house is too big but we're not ready to retire - 06/27/17 07:19 AM
Dear TZ,
Our children have moved out and the house is just too big for us. But we're not planning to retire for a long time. Does it make sense for us to downsize?
Empty Nesters
Dear Nesters,
There are a lot of factors that go into your decision of whether or not to downsize.
First of all, what are your retirement plans? If you're planning to move somewhere distant when you retire, downsizing now will make that move easier. If retirement is still along way in the future, you'll save a lot of money by downsizing now.
Another factor is how much time you spend on your … (2 comments)

dear tz: Dear TZ - When you say commission is "negotiable," how low can I go? - 06/20/17 11:49 AM
Dear TZ,
When I asked you about commission, you told me that all real estate commissions in New Jersey are "negotiable." How low will you go? Why would I ever pay more if I can negotiate less?
~Darryl Dealmaker
Dear Darryl,
Real estate commissions are negotiable in New Jersey.
In life, you get what you pay for.
First, take a look at what I pay for, out of my own pocket, whether your home sells or not. I pay for the listing on the MLS, for the sign, for the photographer, for the flyers to be designed and printed, for a postcard mailing or two or three, for … (1 comments)

dear tz: Dear TZ: Do I really need to hire an attorney for this deal? - 09/22/15 06:37 AM
In most of New Jersey and in many other states, attorneys handle many parts of the transaction.  They fine tune the contract to both parties satisfaction, handle ordering title, title insurance, they also write the deed and file it with the county as well as reporting everything to the IRS.  There are many other things that they're involved in during the transaction, too numerous to list here.  
In fact, the first page of the Standard Real Estate Contract in New Jersey is Opinion 26 which outlines and official opinion delivered by the NJ State Supreme Court, explaining some of the … (6 comments)

dear tz: Dear TZ - Is a Rent to Buy contract good for me? - 01/31/14 04:01 AM

Dear Team Zuhl,
We want to sell our home but are having a tough time getting the price we want. Is selling our home as a "Rent to Buy" a good option for us?
Harry and Harriet Homeowners
Dear Harry and Harriet,
When you offer a Rent to Buy or Rent to Own agreement, you and the renters sign a contract in which the renter agrees to rent the property for a specified time, let's say one year, at above the normal rent. The excess rent that they pay is credited after the length of the contract toward … (1 comments)

dear tz: When Should We List Our Union County Home? - 01/02/14 10:43 PM
Dear Team Zuhl,
We want to sell your home in Union County. We've read your market trends posts and we know that some towns sell faster than others. But when should we list our home so that it sells the quickest?
Does WHEN we LIST our home affect how QUICKLY we SELL our home?
- Hurry Up Harry
Hi Harry,
Some people need to sell their home fast - maybe they need the cash for an emergency, or maybe they've been relocated. They need to price the home low and market aggressively. But if you just want to minimize … (1 comments)

dear tz: Sell My Home Fast! - 01/02/14 10:30 PM
Some people want to sell their homes quickly - maybe they've been relocated or maybe they need the cash out of their home for an emergency. If you want or need to sell faster than the average, there are 4 quick and easy steps you can take now to ensure that your Union County home sells as quickly as possible:
First, if there are any repairs necessary in your home, make them now, before you list the home. Things like leaky plumbing, stained carpet, or broken windows need to be in working condition before you show your home. Educate yourself on the … (0 comments)

dear tz: Dear TZ - What are credit bureaus, credit reports, and credit scores? - 03/17/13 08:49 PM
 Dear TZ -
This credit stuff is confusing - there are credit bureaus, credit reports, and credit scores, and I can't tell the difference. Can you simplify it?
Bob the Borrower

Dear Bob,
Credit bureaus collect and organize credit data - any time you use a credit card or pay an auto loan or a mortgage, they compile the information on your payment history. Then, they sell this information to other credit grantors from whom you seek to borrow money.
There are three major consumer credit bureaus - Equifax, Experian, and TransUnion. Most creditors report to all three bureaus and … (4 comments)

dear tz: Dear TZ-30 Years is too long but I can't afford to pay more per month! - 10/19/12 06:52 AM
Dear TZ,
My wife and I have another 28 years left on our 30 year mortgage. Paying that mortgage takes every nickel we have, so we can't afford to refinance with a shorter term, and we can't afford to pay more toward the principal every month. But we're both in our forties and would like to be ready to retire in about 20 years. Retiring will be impossible with a mortgage over our heads. What can we do?
BluePrint Bill
Dear Bill,
The good thing is that you have several options available to you.   What might be the best … (1 comments)

dear tz: Dear TZ - What happens after the Home Inspection? - 06/01/12 12:51 AM
Dear TZ,
We found the perfect house! It's exactly what we want, and we can afford it. We made an offer and it was accepted! Our lawyer told us to have a home inspection, and the inspection report came back with some problems. The roof is old and needs to be replaced, and some of the plumbing is corroded. What do we do?
Ivana Homenow
Dear Ivana,
First thing you'll want to do is go over the home inspector's report.  Speak to your home inspector if you have questions.   Then you'll want to discuss what your options are with … (1 comments)

dear tz: Dear TZ - What does amortization mean? - 05/28/12 12:26 AM
Dear TZ,
My brother in law said I can save a ton of money if I amortize my loan on my house. What does that mean, and does it work?
Borrower Bert
Dear Bert,
Very simply put amoritization is the process that the principal amount of your mortgage decreases over the life of your mortgage.  So each payment that your make, a portion is applied towards the interest on the loand and a portion is appliec to reducing your principal.  
So by paying more than the set amount or paying twice a month, you can apply the excess … (1 comments)

dear tz: Dear TZ - Can I commute to NYC from Union County? - 05/28/12 12:00 AM
Dear TZ,
I have a job in New York City and I don't want to move to Union County if the commute is going to be too difficult. What are the commuting options into the City from Union County?
Subway Sal
Dear Sal,
Obviously the ease of your commute will be a huge factor in your decision about where to move.  Fortunately for you Union County is ideal for the NYC commuter.  In fact many all the towns in the county have easy access to NYC either by rail or bus.  The current downside is that the rail line … (0 comments)

dear tz: Dear TZ - How does the Shadow Inventory affect homes in Union County? - 05/27/12 11:57 PM
Dear TZ,
I want to buy a home in Union County but I keep hearing about something called a shadow inventory. What is it? What does it do to prices in Union County?
Buyer Bob
Dear Bob,
Homes that have been foreclosed that are now bank owned properties.  Much of that inventory is not yet on the market, hence it’s in the shadows.  We measure the amount of inventory in months, meaning that if no new houses come on the market, how long will it take to empty the shadow inventory at the current rate of sales.
New Jersey currently has the greatest shadow … (0 comments)

dear tz: Dear TZ - I think my house is worth more than my REALTOR thinks! - 05/19/12 11:35 PM
Dear TZ,
I've taken your advice and chosen my REALTOR. I really like her, but she thinks my house is only worth $300,000, but I think it's worth $350,000. How can I convince her to list it at $350?
Greedy Gus
Dear Gus,
It's not easy to balance how much you want for the house and how much you can actually get for the house. The chances are that your REALTOR(R) is probably closer to the right price than you are.  After all she is a Real Estate Professional and her job is to KNOW the local market. Chances are, she … (8 comments)

dear tz: Dear TZ - How can I prepare my home to sell? - 05/13/12 08:46 AM
Dear TZ,
I'm planning on putting my home on the market this summer - what kinds of things can I do to help it sell better? 
Handy Harry
Dear Harry,
That's a loaded question.  It really depends on the overal condition of your home and how much you have available to make repairs.  
At a bare minimum you'll want to declutter the entire house, inside and out.  Make sure your yard is well kept.  Cut the grass, trim the hedges, edge your sidewalks.  All easy to do and inexpensive. 
You'll want to make any repairs that are glaring, leaky … (3 comments)

dear tz: Dear TZ - Should I be afraid of the Shadow Inventory? - 04/24/12 08:44 PM

Dear TZ,
I keep hearing about something called a shadow inventory. What is it? How does it impact me and my home?
Homeowner Harry
Dear Harry,
Shadow inventory…  Almost sounds scary, like it’s lurking in the forest waiting to jump out at you.  
Very simply there have been homes that have been foreclosed that are now bank owned properties.  Much of that inventory is not yet on the market, hence it’s in the shadows.  The amount of inventory is not measured in houses, it’s measured in months, meaning that if no new houses come on the market, how long will it … (5 comments)

Wayne Zuhl, The Last Name You'll Ever Need in Real Estate (Remax First Realty II)

Wayne Zuhl

The Last Name You'll Ever Need in Real Estate

Cranford, NJ

More about me…

Remax First Realty II

Address: 68 Washington Street, Clark, NJ, 07066

Office: (908) 514-4105 x 5

Mobile: (908) 917-4189

Musings from Union County, NJ




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