Cambridge Heights Open House (473 Hartford Dr.) 1-4pm – Nutley

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    17 Continental Avenue, Belleville NJ 07109-Short Sale

    Deal of the day in Belleville, this home just came on the market and from what I can see looks like a really nice place, its also a Short Sale. WOW Look at this Kitchen!Short Sale on Beleville NJ

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      Home Buying Secrets

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        Things To Know About Your Nutley Refi

        Getting a mortgage refinance has seldom looked more attractive than it does this October. Ads for seemingly ridiculously low teaser rates are popping up all over the place — and even if the closing costs are hefty (many aren’t), the underlying rates make them all but irresistible.

        But do you qualify?  Some folks don’t realize that a refi can be just as tough as getting a mortgage in Nutley in the first place. Or tougher. One client has a stunning property, top credit, and a guaranteed income stream that was more than adequate to fund the refi. She put together all the required paperwork, hosted an inspection (the inspector told her, ‘this is the finest property in the area’), and then waited a week before being told she had failed to qualify. Why? Because her place had a guesthouse — and that particular loan program was for single dwelling properties only!

        The lesson here is that it pays to ask all sorts of questions before actually applying for a specific refinance offer; in other words, kick the tires! Nevertheless, when all is said and done, locking in lower monthly payments can still be worth the trouble.

        You will want to present a solid picture — one that shows that you are financially stable with a good credit rating. Getting any kind of a mortgage in Nutley is twice as hard if there are significant issues in your credit report or instability in your employment history.

        Of course, the basic math has to work, too. The more income you have, the more the lender will be willing to lend. If you are married, you can opt to borrow as a couple so that your joint income is considered. Since the lender will factor in your debt load, subtract your monthly from your income number: if the remainder is healthy, the lender will see that, too.

        Lastly (and of key importance), your home will need to appraise for the loan you desire. Although a resurgence in property values seems firmly underway, some neighborhoods have had time to show those rising values, and some not. I can help you get an idea of how the ‘comps’ in your part Nutley have been faring recently – good to know when you are getting a mortgage or refinancing an existing one.

        The bottom line?  Getting any type of mortgage in Nutley requires all the usual suspects.  Reliability and predictability are really the key here.   If you are tempted by today’s record rates to try to refinance, contact a reputable mortgage broker to go over your options.  As always, please consider me your local real estate resource – call me if you need an introduction!

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          Just Listed in Belleville NJ- 4 Bedroom 2.5 bath

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                When Building Income is a Property Manager Benefit

                The stage is set for those with investment dollars to spare: income properties — including rentable local vacation homes  – are still being offered at discount prices. At this point, the fire sale psychology has been pretty well hosed down, but…

                Despite the evidence of an improving market, the recovery is from such a deep downturn that, stacked up beside historical levels, real bargains are still out there. Add in the fact that recent pronouncements from Washington indicate that a lid is firmly in place on those extremely attractive mortgage rates, and it’s clear why investors are likely to continue on course to match or beat last year’s 7% growth in vacation home sales.

                However, buying a second home as an investment is just that: a business proposition. The cash in, cash out projections may be simple to estimate, but experienced investors know that, as with any business, realistic operating costs need to be factored in. Taking some of the guesswork out of that can mean better risk management for that new “business” – and one way to accomplish that is to consider using a professional local property manager to look after things.

                The first reason is immediately obvious: when it comes to renting out a vacation or other property, there are always going to be emergency calls from the tenant. By using a local property manager, you can ensure that you are not inconvenienced by any 2 a.m. calls…and that all emergencies are handled professionally.

                If you live far away from the property or travel often, there is another plus: sheer logistics. Instead of being faced with going to the property to meet new people staying there, mailing the keys, or finding another way to turn over occupancy, a property manager can be here in the area to welcome tenants and walk them through. Let’s face it: when a living, breathing person is present and in authority, tenants act more responsibly. How valuable is that? If peace of mind is an issue, very!

                There is another considerable value a property manager can offer: marketing services. If you choose one with a website that is already search engine optimized, that means far less work for you. Increasing the number of people who see your rental cannot help but boost the odds that you will see more income from your local investment.

                Before you go ahead and choose an investment property and property manager in the area, do take the opportunity to consult with a real estate professional to go over the current options.  If you choose me, I will do my best to help get more for your money. Since the stage is set, if you are ready to investigate, this could be the right time to further your investment potential!

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                  Finding the Home That Fits Your Retirement

                  Retiring in Nutley, Sell Your Home

                  How about this for a stunner: each and every day for the next 17 years, more than 10,000 American “baby boomers” will hit retirement age. That is based on 65 being considered retirement age (although many 65-year-olds I know haven’t the slightest intention of abandoning their careers anytime soon). Nevertheless, the impact that this demographic wave will have on everybody is bound to be substantial.

                  In the housing industry, even seniors who are anything but retired will be gravitating toward newer, smaller homes that better fit the lifestyle of adults whose children are now out on their own. So some fine-tuning of property listings will be in order. I expect more Nutley property listings to start emphasizing smaller footprints and some other basics that reflect some of those changing lifestyle priorities.

                  Cost of living factors can be expected to replace good employment opportunities as a leading geographical consideration.  Since most retirees will find themselves shifting to a fixed or limited income, property listings may start to include their area’s score on the National Cost of Living Index. The NCLI is based on an average of 100: cities with a cost of living index of 80 to 90 are usually considered favorable for retirees. We can expect more local property listings to highlight it.

                  Weather and seasonal factors should take new prominence. There is a good reason why previous generations of retirees chose homes located in the western Sunbelt states and the southeastern region. Many retirees prefer warm weather and temperate climates. There are physical and medical advantages – not to mention added months of golf, tennis and beach going!

                  Proximity to family members is the one perpetual consideration that won’t be changing anytime soon. Grandparents cannot fully dote if the kids are all the way across the country. Yet indicators have been growing that their more mobile mindset has at least some seniors compromising in this regard: property listings that note major airports close by are growing in number. (Call it ‘portable doting.’)

                  In the end, the choice of a new home that fits anyone’s later years is largely a matter of what you and your spouse want out of the freedom of your latter years. For clients who are selling, it’s a basic part of my service to know how to create Nutley property listings that emphasize the features currently rate highest with prospective buyers – baby boomers or not!

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                    Nutley Buyer’s Agent Boosts Short Sale Odds

                    Last month, the number of new foreclosures listed nationally barely crept upward — even as average sale prices leapt dramatically. Realtytrac compiles the numbers, and they show a sizeable 10%+ jump in foreclosure sales prices from July to August. Of course, homes listed as foreclosures and short sales still close at prices markedly lower than homes sold in traditional transactions, but that rise in price seems to say that more buyers are feeling confident that a home purchased now will look like a wise move in the future.

                    If you have been looking at the distressed property market in Nutley, these numbers suggest that the short sale and foreclosure possibilities are still being created — and that the value they represent is getting a boost of market verification. But before anyone rushes out to take advantage of that market, it’s a good idea to consider enlisting the help of a buyer’s agent. It’s no exaggeration to say that a great buyer’s agent can help make or break a short sale.

                    Helping you find a price that works is one of the most valuable services a buyer’s agent will supply. Banks will turn down a short sale if they determine it is possible to sell a home at a price closer to its market value. Nobody wants to overpay — but you won’t get a house by overplaying your hand, either.  A knowledgeable Nutley buyer’s agent with a local market track record can be invaluable when it comes to determining how the price you are contemplating is likely to be received at the bank.

                    As Realtytrac’s report suggest, it’s a fast-moving market. Anyone who has fallen in love with a house only to learn that theirs was the least attractive offer knows the sting of underestimating the market.  An experienced buyer’s agent can help you determine if it is likely that there are multiple offers on a home — and whether a bidding war is likely to ensue.  If you want that house, a savvy buyer’s agent can be your secret weapon.

                    In the larger picture, stepping back from the sometimes emotional side of the process, a well-versed Nutley buyer’s agent can help you determine if a home offered as a short sale is a good buy overall. Even when a home is priced well below market value, some wind up needing costly repairs that consume the cash saved on the purchase price. You need to compare apples to apples — a great buyer’s agent can help you compare the potential real cost of buying a home that initially might have appeared to be available at an irresistible discount.

                    If you are curious about Nutley homes in the short sale and foreclosure markets, I am standing by to put my experience to work for you. Supplying the knowledge that helps make excellent long-term decisions — then applying strategies that put them into action – are the ways I’ve built a reputation for hard work and solid results. Call me anytime!

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