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Call Jeana Cowie, your Bergen County REALTOR© C# 201-982-2200
Jeana Cowie, ABR, CRS, GRI, SRES
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Over 600+ Homes SOLD. Paramus Real Estate Agent Specialist. Selling Bergen County Real Estate for 20+ years.
Call Jeana Cowie today at cell 201-982-2200
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Are You Really Ready for Home Ownership? 5 Signs It's Time
 You think that you're ready to buy a home, but how can you be sure? The thought of owning a home is an exciting one, yet not everyone is ready. If you've been considering purchasing your first house, here are five signs that you're ready to take the plunge into home ownership:
1.You Stick to a Budget
Financial experts will tell you that creating and sticking to a budget is a sign of financial maturity. With the over 1.5 million foreclosures in the United States, it's easy to understand why this is so important. If you have already
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Mortgage Rates
U.S. averages as of June 27, 2013:
30 yr. fixed: 4.46%
15 yr. fixed: 3.50%
1 yr. adj: 2.66%
View current rates
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created a budget and have stuck to it, you're more ready than the next guy to own your own home. When you follow a budget, you know exactly where your money is going each month.
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Who Is Responsible
When Your Tree Falls?
 A year ago, few of us ever heard of a "Derecho"; now, faced with fallen trees, damaged property and even a few deaths, Derecho - meaning super-strong windstorm - is a household word. One we really never want to hear -or see - again.
Who is responsible if your neightor’s tree falls on your property? The general rule is that unless the neighbor knew - or should have known - that his tree was unsafe - even if it caused damage to person or your property, he is not responsible. Our courts follow the old common law: it’s your property, so take care of it, unless you can prove your neighbor was negligent.
The legal answer to this is quite simple; however, the interpretation and implementation of the law is rather complex.
How do you prove that your neighbor’s tree was unsafe and that your neighbor was negligent in not assuring that the tree would not fall? What constitutes negligence?
The answer depends on all of the facts. Did your neighbor have any knowledge that the tree was a potential hazard? Should the tree owner have been on notice of a problem because the tree was not showing leaves but only bare limbs?
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Down Payment Shrinkage Not Due To Eased Credit Squeeze
 The down payment amount home buyers are paying to buy a home is down nearly 10 percent over the past two years, but that doesn't necessarily mean you can fritter away money you've been saving for 20 percent down.
LendingTree recently released a study analyzing down payments for borrowers in each state and found overall, nationwide, the average down payment is down 9.4 percent since 2011.
The survey examined down payment percentages for 30-year fixed rate purchase mortgages.
"As the housing market begins to improve, lenders are beginning to loosen their guidelines to more normalized standards and approve loans with lower down payments," said Doug Lebda, LendingTree founder and CEO.
Credit squeeze down payment impact
Perhaps, but that doesn't mean lenders are easing the credit squeeze.
As for easing the squeeze on credit, the recent Federal Reserve Senior Loan Officer Survey (SLOS) found that only 8 percent of banks loosened mortgage credit conditions in the past three months up through April.
Eight percent isn’t much, but credit conditions have either loosened or held steady for eight of the past nine quarters. Also, 27 percent of banks plan to up residential mortgage assets over the next year and know they can’t do that without taking on a little more risk.
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Homes - Going Big Again!
 How quickly tastes change! Remember the days of downsizing, cutting back, and minimal living? They're gone. Well, not completely.. some people are still opting for smaller homes but, according to CNN, when it comes to homes, big is in again!
Homes are creeping up in size and buyers are saying "gimme more". The median U.S. home expanded to 2,306 square feet, increasing by 8 percent from 2009 and hitting an all-time record, reported CNNMoney.
During the tough economic times, homes shrank by 6 percent, supposedly ending the McMansion trend and leaving the average home sized at about 2,100 square feet. So the shrinkage might not have been an indicator that homebuyers really want a smaller home. Instead, according to the National Association of Realtors, people prefer a home that's about 2,200 square feet.
Daily News and Advice
Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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Jeana Cowie, ABR, CRS, GRI, SRES, Broker Associate/REALTOR©
E-mail: jmcowie@optonline.net
Web: http://www.jeanacowie.net
201-982-2200 (cell) |
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RE/MAX Real Estate Limited
201-599-1100 x 348
297 Kinderkamack Rd
Oradell, NJ 07649
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Equal Housing Opportunity
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