January 2015 Real Estate Newsletter

By
Real Estate Agent with RE/MAX Real Estate Limited
https://activerain.com/droplet/4sV9

Happy New Year! 

Real Estate Newsletter for January 2015

Presented by Jeana Cowie of RE/MAX Real Estate Limited  201-982-2200

Call Jeana Cowie, your Bergen County REALTOR© C# 201-982-2200
Jeana Cowie, ABR, CRS, GRI, SRES
January 2015
Real
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



Loan Lock - What To Do
When You've Blown It

  Your interest rate lock. It was a good one and now it's gone past the lock period and rates have gone up. What can you do to get that coveted interest rate back on your loan approval? There are options, but there is no universal requirement all mortgage lenders must follow regarding interest rate lock procedures. They are however required to tell you how and when a rate can be locked and what can happen if your rate lock expires before your closing takes place. Regardless of what rates were when you first applied, unless you tell the lender to lock, you're in a "floating
Mortgage Rates
U.S. averages as of December 24, 2014:

30 yr. fixed:   3.89%
15 yr. fixed:   3.10%
1 yr. adj:        2.41%



View current rates



pattern."
      Lenders take interest rate locks just as seriously as borrowers do. There's a document you need to pay attention to

Wondering What Your Bergen County Home Is Worth in Today's Market?

Call me for a free, no obligation market analysis 201-982-2200. Thinking of buying a Bergen County home? Call or email me today Email: jmcowie@optonline.net




Why CMAs and Appraisals Aren't The Same
     As part of the homebuying process, your real estate agent may create a comprehensive market analysis or CMA. Later, when you apply for a mortgage, a bank appraisal is conducted by a licensed appraiser. Are CMAs and appraisals the same thing?
      While both CMAs and appraisals help determine a home's market value, their purposes are not the same. The CMA is a sales tool to help you find an offer price for the home you want to buy. The homes in the CMA include the home you want to buy plus similar nearby homes. This helps you see how the home you want compares to other homes so you have an idea what to offer.
      A real estate professional may prepare a CMA for their sellers to help them choose a listing price. The CMA includes recently sold homes and homes for sale in the seller's neighborhood that are most similar to the seller's home in appearance, features, and general price range.
      Although the CMA is used to help determine current market value, the seller's home is typically not even featured in the CMA. The CMA is merely a guide to help the seller learn what's happening in their local market, so they can better understand where their home fits in term of price ranges, based on location, features, size, condition and


Ten Essential Steps
To Buying a Home

     You're ready to take the leap and buy a home. If this is your first time, you may want to know what to do to make the process go more smoothly. Here are ten steps you'll be going through to buy your next home.
      Check Your Credit Reports and Scores - You get one free look at your credit reports annually. Go to AnnualCreditReport.com and see how easy it is to get credit reports from the three major credit bureaus, Experian, Transunion, and Equifax. You'll need all three because they each report differently, so you may find an error at one bureau but not the other two. You don't know which credit bureau your lender will use so you want all three bureau reports to be accurate. If you see a mistake, contact the bureau and alert them to the error. Send a copy of your proof, such as the paid balance.
      Get prequalified - Your lender will "run your credit" to look at your credit reports and evaluate you for risk. Your income, credit scores, payment history, revolving debts, obligations such as child support as well as the type of loan you choose are all factors in determining your interest rate and other terms of the loan. The lender will also consider how much home you can buy based on your down payment; smaller down payments mean higher monthly payments. Last, the interest rate and terms (30-year, fixed or adjustable rate) will determine what you can afford in monthly payments.
      Make your wish list - Decide where you want to live and how many bedrooms and baths you'll need. Consider lifestyle

Thinking of selling?

Call Jeana today for a free market analysis cell 201-982-2200




5 Home Projects Only a Professional Should Do

     It’s easy for homeowners to get caught up in the world of Pinterest and do-it-yourself blogs. While unique, custom projects can be a great way to personalize or spruce up your home, some projects are better left to professional contractors. Next time a friend or client has a brilliant idea to attempt one of these projects on their own, let them know why some things are best when left in the hands of pros.
      1. Tree Removal
      Whether it’s cutting down an overgrown tree or digging up a giant stump, this project can be an accident waiting to happen, especially if the tree is close to your house. Working from a height of 10 or 15 feet with large power tools can be dangerous enough, but add the factor of falling branches, and the risk



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.


More Articles

December Round Up: Rates Remain Near 2014 Lows
How Important Is Square Footage?
Selling Your Home In a Cold Market
Five Home Improvements To Avoid For Resale


Jeana Cowie, ABR, CRS, GRI, SRES, Broker Associate/REALTOR©
E-mail: jmcowie@optonline.net
Web: http://www.jeanacowie.net
201-982-2200 (cell)
RE/MAX Real Estate Limited
201-599-1100 x 348
297 Kinderkamack Rd
Oradell, NJ 07649


Equal Housing Opportunity
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Jeana Cowie, ABR, CRS, GRI, SRES©
Broker Associate, Real Estate Agent 
  
RE/MAX Real Estate Limited
Oradell, NJ 07649 (in Bergen County, NJ)

www.jeanacowie.net   

Jeana Cowie is a Top RE/MAX Bergen County REALTOR©                            

Over 800+ homes SOLD!! 23 Years of Full Time Bergen County Real Estate Sales Experience

Specializing in Paramus real estate (over 300+ homes SOLD in Paramus alone) handling all of your Bergen County real estate needs, from Allendale to Wyckoff

Top 1% of all RE/MAX agents in NJ

Follow me on Facebook at: http://www.facebook.com/BergenCountyRealEstateUpdate

Subscribe to my FREE Monthly Real Estate Update Newsletter at: http://realtytimes.com/c/JeanaCowie

Follow me on Instagram & Twitter at: @JeanaCowie

 

 

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Wow, lots of information in here. Do you track your click through rate?

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