February 2015 Real Estate Newsletter presented by Jeana Cowie

Real Estate Agent with RE/MAX Real Estate Limited

February 2015 Real Estate Newsletter presented by Jeana Cowie of RE/MAX Real Estate Ltd


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

Home Sellers: The Curse
Of The First Offer

  Sometimes when everything goes right we have trouble accepting that fact. Perhaps nowhere is this phenomenon more clearly illustrated than in the case where a seller receives a good offer right away.
      The annals of real estate are well stocked with stories of sellers who refused to take a good, but not perfect, first offer, and who then waited a long, long time before finally accepting something else at a considerably lower price. And most agents who have been around for a while know to shudder when
Mortgage Rates
U.S. averages as of January 29, 2015:

30 yr. fixed:   3.66%
15 yr. fixed:   2.98%
1 yr. adj:        2.38%

View current rates

a good strong offer is made almost at the outset of a listing; for the seller's reservations are almost inevitable. "Did we list it too low?" "If someone will offer

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

Home Buyers: What You Should Tell Your Lender
     Before you go get a loan to buy a home, there is some preliminary work you need to do and some things you need to know to make the borrowing process easier.
      First, you need to choose a lender. Ask family and friends whom they would recommend. Interview more than one lender, preferably a local banker, a mortgage broker, and a lender from a national bank. Ask questions such as how long they've been in business, how long they take to close the average loan, and how much experience they have with loans you're interested in, such as FHA or VA, or a jumbo conforming loan.
      Most lenders won't choose to share their list of fees until you apply for a loan. That means sharing your personal information. The lender needs your personal information to decide whether to give you the loan and how much to charge you in interest. If there are any negatives in your credit history, now is the time to come clean.
      Once you apply for a loan, your lender will run your credit. She will contact one or more of the three credit reporting bureaus to get your credit report and your credit score. If you have late payments, an account in collections, or a dispute with someone that has resulted in a judgment against you, you need to tell your lender before she runs your credit.

What Does The
Home Seller Owe?

     Buyers are looking for ways to get an edge over sellers. One way is to find out how much sellers owe their lenders on homes for sale. With this knowledge, they can gauge how much negotiation room the seller might have.
      In a seller's market, knowing what the seller owes can help the buyer formulate an offer the seller will accept, avoiding an expensive bidding war with other buyers.
      In a normal market or a buyer's market, the buyer hopes that the seller will accept an offer that is lower than current market value, but high enough to allow the seller to get out of their mortgage debt without bringing money to the closing table.
      Short sales are a little different. Short sales are more common in areas with high foreclosures or job losses. Banks have a lot of inventory on hand and are more willing to negotiate but they put the deal under a microscope.
      The buyer has to understand and be prepared for a deal to take much longer, perhaps as much as three weeks longer than normal. The seller must prove hardship for the lien holder to agree to take the loss.
      There are three ways buyers can find out what the seller owes -- public records, real estate professionals and asking the seller directly.
      The amount owed on any mortgage is a matter of public record and can be found at the County Recorder. Buyers can search in person or online, where county records are available. Once they identify the property and lienholder,

Thinking of selling?

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

Smaller Remodeling Jobs Deliver Better ROI

     Your home may need some work, but that doesn't mean you want to lose money on it when you sell. That's why you might be interested in the 2015 Remodeling Cost vs. Value Report from Remodeling Magazine and the National Association of REALTORS®.
      It may surprise you to learn that large remodeling jobs won't return their full cost in home price gains, while other could return 100 percent or more of their cost.
      Any improvements should help your home sell faster and for more money in the aggregate, but if you're choosing remodeling projects, you may need to decide which ones are more important for resale, and which ones will bring you and your family the most enjoyment.

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

January Round Up: Mortgage Rates Tick Up
The Three Most Important Responsibilities Buyers Have
5 Smart Value Strategies to Win Sellers Over
How To Turn A 'Have-To' Move Into A 'Get-To Move' Situation

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)


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

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