Nutley Short Sale Process Takes Active Teamwork

Nutley Short Sale Process Takes Active Teamwork

A Nutley short sale is the option usually preferred by anyone who faces foreclosure. It’s the path that, with the approval of the mortgage lender, promises to ultimately minimize damage to the homeowner’s credit score.
According to Realty Trac, distressed sales of all kinds continued to decrease in the last reported quarter, yet the non-foreclosure short sale volume increased by 4%. That amounts to a significant 22% of all sales. Realty Trac’s are the most reliable national statistics, and our Nutley short sale profile has likewise reflected the continuing working out of the distressed property phenomenon.
Completing a short sale in town (or anywhere else, for that matter!) can be challenging. If you’ve decided that it is your best course, you can do a lot to help your agent accomplish it:
•    From the beginning of the Nutley short sale process, keep your agent informed of any changes in the financial picture. That means keeping up-to-date on the changing balance remaining on the mortgage, as well as the number of missed payments. When the information is at hand, your agent can impart the sense of urgency that gets your home sold as fast as possible.
•    The speed of sale is important, yet while a Nutley short sale specialist is an expert in that arena, other important details regarding taxation and the law may influence the best overall strategy. By encouraging your real estate agent to work alongside an experienced attorney or tax specialist, you will form a team that can execute your short sale package more efficiently than if they worked independently.
•    Executing a short sale means meeting multiple demands—each with its own timing requirements. That can mean a lot of pressure: but if your agent asks you to do something or provide additional information, stand ready to do it! That speeds negotiations with buyers and lenders, increasing the chance that you will successfully close your short sale.
Short selling a home is a somewhat complicated process. I offer a no-obligation, in-home consultation to help assess your circumstances and the next steps to consider. Call me anytime!

Related Blogs

    Part 2: What First Time Nutley Homebuyers Aren’t Told

    Of all the things first time homebuyers in our area are told, some that turn out to be pretty important are too often overlooked. Here are four items first time homebuyers will find useful to know:

    4.  Remodeling costs more than you think

    You’ve found a fixer: your energy is to be applauded. But before you write that offer, if you are one of our local first-time homebuyers, be certain to have penciled out the bottom line cost of bringing the home up to the standard you require to be move-in ready. You may well be able to live with some items that you will fix over time, but in all areas, budget 20% more than your estimate.

    5.  What matters is what the bank’s appraiser thinks the house is worth

    Getting a loan approved isn’t as simple as having great credit and a down payment. Your offer also has to pass the bank’s approval process before they will okay the loan.

    6. Getting inspected doesn’t mean there won’t be problems

    Should you skip the inspection process? Absolutely not. You need to know if the home is structurally sound. But owning a home involves continuing expenses — and problems can pop up even on Day One of ownership. Make sure you have funds set aside.

    7. Buying your first house can be stressful…really stressful!

    One of the absolute best pieces of advice I can give is to relax — expect the unexpected! Buying your first house is scary only if you allow it to be. Since it is all but certain that there will be ups and downs, allow the possibility that may not get any particular house. Veteran homebuyers come to understand the cost of overly emotional involvement — when you do, too, you will be better able to roll with the punches…and to make financially sound decisions.

    If you missed the first three items in my list, check back to Part 1 – or just call me! I’ll fill you in on everything local first time homebuyers need to know.

    Related Blogs

      Nutley Mortgage Snoozers Could Be Losers!

      Nutley Mortgage Snoozers Could Be Losers!

      Nutley Mortgage Savings

      Your mortgage: you only think about it once a month (if you’re on autopay, maybe not even that often). Why worry about it? If it ain’t broke, don’t fix it, right?
      Wrong!

      Like all aspects of your big-picture financial planning, keeping an eye on that mortgage can be an extra wealth-building move. I can point to three reasons why re-evaluating your Nutley mortgage could pay dividends: Down, Down, Down…

      Ok, with interest rates continually making headlines, this one might be a no-brainer. But some folks don’t realize just how attainable significant savings may be: a drop of just a single percentage point in the Nutley mortgage rate can make a gigantic difference. A general rule of thumb is that if you can lower your interest rate by a percent or more, it usually makes sense to refinance. It’s certainly worth looking into.
      Pay More Sooner (Build Wealth Quicker) Nobody wants to part with more hard-earned cash than necessary, but extra money out now can wind up saving a lot of greenbacks later. Making just one extra payment a year will have you owning your home free and clear sooner – whereupon those payment dollars become yours!
      Sound too painful? It needn’t. See if you can set up bi-weekly payments of half your monthly mortgage amount. You’ll be making 26 payments annually: the equivalent of 13 monthly payments! Confirm with your lender that the extra payments go toward principal.
      Eye That Equity If you’ve got a PMI payment, you know that extra insurance doesn’t come cheap. So why make the extra payment a single month longer than necessary? By law, your lender is required to stop charging you PMI after you accrue 22% equity in your home. But in many cases, once you hit 20% equity, simply writing a letter to your lender will prompt them to allow you to stop paying PMI then and there.
      For most of us, our home in Nutley is one of the largest investments we’ll ever make. Got a real estate question? I’m here all the time to supply you with friendly help and advice!

       

      Related Blogs

        Just Listed in Nutley (Short Sale)

        46 Newman Ave, Nutley NJ Call Me at 973-846-0065 For More Information

        Short Sale in Nutley NJ

        Related Blogs

          Nutley Open House Touches To Make Things Happen!

          Nutley Open House Touches To Make Things Happen!

          Open House in Nutley

          When you are getting near to zero hour for your first open house in Nutley, you should know some of the simple moves homeowners can make to help ensure success. Here are three of them — three ways you can approach your area open house to make sure it’s a well-attended and effective marketing event:

          1. Buy some flowers

          It might seem extravagant, but when you consider the your Nutley home’s asking price, it may prove well worth it.  The amount you spend on flowers will create an extra lift: the inviting aroma that greets your visitors, together with the burst of color fresh arrangements add in key areas subtly let buyers know you are willing to make an effort for a property that rates star treatment.  Plus, it’s almost springtime, right?

          2. Put up signage in advance

          You will already have a “For Sale” sign in the front yard, but once you near the day of your area open house, getting the word out becomes a top priority.  If your agent is heads-up (hint: I’m one of those!) – you will see that an “Open Sunday”’ rider has been attached to your sign days in advance.  It’s one of a number of small steps step that will help entice Nutley residents (who will tell friends who are looking) — and definitely flag weekday drive-bys to come back! Any extra exposure can be vital for courting a goodly field of potential buyers.

          3. Provide child-friendly entertainment

          Buyers have children, and planned or unplanned, they may be along for the occasion. Bored kids are a distraction – so why not have some coloring sheets and crayons ready? You’ll be removing the hassle factor at the same time you are creating a welcoming, kid-friendly atmosphere.

          When it comes to a successful Nutley open house, small steps make a large difference.  I’d love to help set you up for success this spring: contact me anytime for an in-home consultation to prepare for the coming selling season.

          Related Blogs

            Yard Dos and Don’ts to Sell Your Nutley Home

            Your yard is your Nutley home’s calling card. A dated or overgrown yard can be a huge turnoff to potential buyers – just as an appealing one can trump other objections.

            Landscape designer Cynthia Bee knows this well. “Landscaping often makes the difference,” she says, “between a prospective buyer getting out of the car for a closer look or simply driving on by.”

            The same goes for Internet prospects as they scan through listings in search of a Nutley home to buy. An unappealing yard can detract from your all-important curbside glamour photo — and cause them ‘to drive on by’ your listing. The backyard is not as important in attracting buyers, but often proves vital in holding their enthusiasm.

            To help sell a home in Nutley this spring, right now is prime time to consider some yard-focused dos and don’ts:

            DON’T allow ornamentation designed to create character — that ‘character’ may be hard for prospective buyers to see past. In this category are mirrored globes, plastic fauna, and (definitely) gnomes of all varieties.

            DO consider maintenance issues when you plan front and backyard updates.  To sell a Nutley home that appeals to the widest swath of prospects, avoid intricate garden plantings that shout, Weed me!  Water me! Trim me!

            DON’T let original planting design make an otherwise appealing property feel dated. It used to be considered elegant to have flat-toped and rounded bushes alongside pathways – but that was the 50’s. Today, the vast majority of buyers appreciate the natural look (and native plants).

            DO consider who your likeliest prospects will be – and how your yard will fit their family. If you are going to sell a home with four bedrooms, a back yard with plenty of playing space for the kids is a good idea.

            Sometimes it can be the smallest details that determine how quickly you sell a Nutley home.  It’s my job to help in figuring out which and what those are likely to be.  If you are getting ready to sell a home in town, I hope you will call me to put my knowledge to work!

            Related Blogs

              Happy To Announce The Sale of 109 Riverwalk Way in Riverwalk in Clifton NJ!!!

              Happy To Announce The Sale of 109 Riverwalk Way in Riverwalk in Clifton NJ!!!

              riverwalk

              Related Blogs

                The Eureka! Moment for Nutley Renters

                The Eureka! Moment for Nutley Renters

                It’s pretty common to hear from previously contented tenants who suddenly experience the Eureka! moment – one where they realize they should have bought a home a while back. Eureka! moments happen most frequently around April 15 — but they can strike anytime. To minimize the lapse between Eureka! and the moment when home ownership became the smart choice, here are some indicators current tenants should watch for:

                Stability Shift

                When your long-term job stability changes, your ability to predict future finances changes with it. Current renters should start surveying Nutley homes for sale when the breadwinner becomes newly established in a long-term position.

                Credit Profile Shift

                To qualify for one of the homes for sale in Nutley may not require perfect credit; but a better credit score means a lower interest rate (and smaller monthly payments). Keeping an eye on your credit profile will confirm that the single best way to boost it is to pay your bills on time, every time. As with the previously cited stability qualifier, lenders take it all into account, and improved credit coupled with today’s record low interest rates pencil out to mortgage eligibility.

                DIY Profile

                An additional sign that you are ready to investigate the homes for sale in Nutley appears when it becomes clear that you can easily handle day-to-day maintenance. Diligent upkeep of a property, inside and out, can take chunks out of your budget if it must all be handled by paid professionals. Especially if you enjoy the process, the more of it you take on, the more you (instead of a landlord) will benefit.

                Owning a home is one commitment that should only be taken on after you have researched Nutley homes for sale, organized your finances, and are confident that your family is ready to settle down for the long haul. If you are close to such a Eureka! moment, contact me to discuss your goals.  With market conditions nearly ideal for first time buyers, I’m here to help you find a home that will turn your Eureka! moment into, ‘It’s good to be home’!

                Related Blogs

                  Just Sold in Belleville

                  Just Sold in Belleville

                  Just Sold in Belleville

                  Related Blogs

                    We Believe In Finding You A Home.

                    Related Blogs

                      Show Buttons
                      Share On Facebook
                      Share On Twitter
                      Share On Google Plus
                      Share On Linkedin
                      Share On Pinterest
                      Share On Youtube
                      Share On Reddit
                      Share On Stumbleupon
                      Contact us
                      Hide Buttons