Nutley NJ Real Estate For Sale, Cambridge Heights

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    97 Myrtle Ave, Nutley NJ 07110

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    Matthew DeFede
    Coldwell Banker Residential
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    MLS#: 2968430
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    97 Myrtle Ave
    Nutley, NJ
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    Great 3 Bedroom Home in Desirable area of Nutley NJ

    $ Click for current price
    1 BATHROOMS (1 full)

    Classic 3 Bedroom Colonial in a desirable part of town, Close to NYC Transportation, this home has allot of room, closed in front porch, great for a home office or play room, many upgrades

    L2L Property Websites WP

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      Nutley Home Sales: The New Normal is…Normal!

      Homes for sale in Nutley New Jersey

      September is a transition time for almost everybody. Here in Nutley, the kids have shifted into school gear, adults have moved out of vacation mode, and businesses are already sprucing up for the (believe it or not) Holiday Season.

      In real estate, we are looking with more than casual interest at what’s going on nationally. Especially those measures that tend to affect Nutley home sales. The largest professional association in the country is our own National Association of Realtors®.  At the beginning of the month, they broke another piece of welcome news. This one looks like the difference between ‘indicators’ of a strengthening home sales market — and signs that it’s already fact.

      The NAR release was about TOM. No, as you have probably guessed, TOM isn’t some real estate broker’s name — it’s the Time On Market measure. For Nutley homeowners who are selling (or planning to sell) their properties, it’s a vital measurement of one of the two most important characteristics of how things are going – a tip to what they may expect when they list. Along with median price trends, it tells the story of whether the market is hot, cool, or somewhere in between.

      For some years now, TOM has been an uncooperative sort of fellow. At least when it came to Nutley home sales. Following the financial crisis came skyrocketing foreclosures…then the fallout from that — painfully long TOMs marking the lengthening time it took to move homes through the market. TOM had stretched out to a painfully long median of 98 days – close to the longest ever.

      The good news: TOM is just about back to normal. From the cyclical peak hit in 2009, by mid-summer, he was back “in the range of historic norms for a balanced market.”  Traditional sellers were reporting the median TOM had returned to the balanced range of six to seven weeks. IOW, TOM is finally behaving himself.

      And what about that other half of the picture that helps guide home sales expectations?

      I think it’s too soon to tell for sure, but the head economist at NAR knows what history tells us to expect when this kind of balanced market returns. According to him (Lawrence Yun), “Our current forecast is for the median existing home price to rise 4.5% to 5% this year.”  Plus another 5% in 2013!

      So the transition that September means for everyone else seems to be underway in the real estate world: and it’s a transition back to home sales normalcy. In light of what we were looking at a just couple of years ago, I think it’s fair to say we are delighted that ‘normal’ is the ‘new normal!’

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            Brady Bunch Families Face Nutley Home Buying Crossroads

            I don’t know what the true numbers are, but we all know how many of today’s families are the ‘blended’ (Brady Bunch) kind. But when it comes to home buying, working out the living arrangements isn’t going to be as simple as the tidy little squares the Brady Bunch seemed to live inside at the start of the show. You already expect that combining two families into one home will be a challenge on any number of fronts: how could it be anything else?

            But like every Brady episode, there really can be a neat solution and a happy ending. IOW, it means that your next home buying in Nutley isn’t doomed to create sheer rancor. Communication is the answer, along with thinking ahead about the potential rough spots. Just about every new clan needs to address these:

            Turf Wars

            Most kids want to have their own space. As a result, family members can break into arguments about space due to the “territorial issues for both children and adults” that psychologists talk about. To meet this situation, they advise discussion and compromise. That’s more than a cliché. You are family now — not a bunch of separate groups. Each member needs to get used to the idea of working together to solve problems — so it’s not just happy talk to make this an opportunity. After some guidelines are agreed upon, home buying will become more directed. For instance, Nutley homes with larger family rooms that allow different simultaneous activities should help ward off potential turf wars.

            ‘Stuff’ Issues

            When two families combine, there is twice the amount of stuff!  Get rid of anything redundant, broken or too old to be useful.  If you do it soon (or at least know what you will be getting rid of) —  before looking into local home buying — you will have a truer idea of your actual storage space requirements. That is, after the garage sale!

            Age Gaps

            Blended families can have kids at a variety of ages. Keeping that in mind is a good exercise for the ‘new’ parents. Younger children will likely need to feel safe in the house, which can point you towards cozier properties. Older kids may be starting to seek more independence. Look for a house that can offer refuge for both younger and older family members.

            Home buying in every phase of life can be a challenge, but perhaps especially so for a brand new blended family.   If you find yourself running into dead-ends in your Nutley home buying process, or just need help finding the right nest for your new family, contact me anytime to go over your wish list.  I have access to a wide variety of the inventory in town, and will be happy to offer all the assistance I can.

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                For Sale by Owner Marketing Tips

                The For Sale by Owner (FSBO) method of selling a home has remained at pretty much the same level of popularity. According the NAR’s most recent survey, just 10% of sales came directly from a previous owner. Since I bet that includes a bunch of transactions between family members, it looks as if the population of Nutley For Sale by Owner signs continues to be in something of a slump (down from the cyclical peak of 18% back in 1997).

                      Still, if you are a Nutley homeowner who wants to buck the trend and head down the FSBO route, you will need to do more than just stick a For Sale by Owner sign in the lawn. Of key importance is the newspaper and Internet advertising you will need to create. Here are some ‘how to’ elements that can help in that effort:

                      1. Research approaches

                      Before you begin writing your For Sale by Owner ad for the Nutley market, read how the real estate brokerages are currently going about it. Check out ads on Realtors’ websites as well as on sites that other Nutley For Sale by Owner sellers use. It will give you an idea of the approaches others have found to be effective. 

                      2. Write to-the-point copy

                      Your ad copy should be comprehensive enough to ensure potential Nutley buyers have enough information to qualify your offering — but without being overly verbose. It may be tempting to gush about your home, but what you write needs to come across as professional. Amateurish or overly personal ad copy can create a less than businesslike aura, fostering distrust among potential buyers.

                      3. Take care with photos

                      Any real estate agent will tell you that photographs can be a real deal-breaker when it comes to convincing buyers to visit your home. Ensure all of your bases are covered, and take your time to produce photos that catch your home at its best. If the afternoon light isn’t flattering for a particular view, be willing to try it later on or in the morning. If you are unsure of your own photographic talent, this is a good place to spend some marketing dollars to employ a professional – one with a top-notch DSLR camera.

                      Last year, the national median For Sale by Owner home sold for $150,000, while the median for agent-marketed homes was $215,000. That is one indication of why it’s a good idea to explore all options before committing to a FSBO campaign. If you would like to meet with me to go over your options, I am happy to offer complimentary consultations to local For Sale by Owner homeowners. Call me anytime!

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                  Buying A home in NJ with Bad Credit

                  Buying a home with bad credit in NJSo you want to buy a home, but you have bad credit, what you can do


                  Just because you have bad, poor or no  credit, filed bankruptcy or gone through a foreclosure or divorce,  does not mean you cannot buy a home. You most certainly can buy a home with bad credit. But you’re going to pay more than a borrower who has sparkling credit and its going to take some time to finf the right lender to counsel you and help you clean up your credit.

                  • The period between bankruptcy filings is seven years, but the ding to your credit report stays for 10 years.
                  • For better rates with a conforming loan, the wait is four years after filing bankruptcy.
                  • FHA guidelines are two years after a foreclosure, which means you could qualify for as little as 3.5% down.
                  • Hard-money lenders will often make loans six months after filing bankruptcy or a foreclosure, but will a require 20 to 35% down payment. The interest rate will be very high and the loan terms are not as favorable; many will contain prepayment penalties and be adjustable.
                  • Subprime lenders (not to be confused with hard-money lenders) are no longer making 100% financed loans.

                  How to Improve Your Qualification For a Conforming Loan

                  • Obtain a major credit card. It’s easier to get than you would think after a bankruptcy, for three reasons:
                  1. A bankruptcy filing gives you a “fresh start.”
                  2. The lender knows you have no debt.
                  3. You can’t file bankruptcy again for another 7 years.
                  • Show steady employment on the job for one to two years.
                  • Earn a regular salary or wage (this does not apply to self-employment).
                  • Save a down payment of at least 10%.
                  • Avoid late payments and continue to pay your bills on time; do not fall behind.

                  For more information about buying a home with bad credit call me at 973-846-0065 and I can point you in the right direction!

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                    Nutley Short Sales May Get Speedup

                    Short Sales in Nutley New Jersey

                    When a homeowner decides to go the short sale route, it’s generally because other courses of action have already proven impractical. Yet short sale transactions have been notorious for dragging on and on, often ending with the lender turning down the offer. After months of waiting, that can be infuriating.

                    As a result, a demand has developed for companies who can offer short sale negotiating services to sellers. Designed to streamline the process and increase success rates, these firms are known as “debt settlement” companies.  Excellent Nutley debt settlement companies are those which truly help homeowners and provide a valuable service. 

                    But a heads-up is necessary here: there are others that offer poor advice (and charge outrageous fees for doing so). As with any major financial decision, if you are planning a short sale in Nutley and considering hiring a debt settlement service to help out, it’s important to do some homework first. 

                    Distressed sales have recently shown a decline, but it’s a slide from a pretty lofty peak. In August, approximately 10% of real estate closings were short sales. At that time, some 14% of those sales were closing below the property’s market value. This followed new federal rules that were put in place this spring requiring lenders to respond within 30 days of receipt of a short sale offer package. They must render a decision within 60 days. It’s expected that Nutley short sale statistics may soon reflect the national trend to higher prices (as well as those quicker response times).

                    For anyone considering a short sale in Nutley , some general advice may be helpful:

                    1. To help facilitate short sale transactions, try to work with a professional who has experience completing the document package for your particular lender.  Don’t be afraid to ask for references relating to your bank – specific knowledge can save time (and the sale!)

                    2. If you decide to use a debt settlement firm, verify that it is one that is properly registered with the State as an approved debt settlement company.  You might also check BBB, and google the company name.

                    3. Whatever way you choose to submit your BPO to the lender, make sure it represents a realistic offer.  If it significantly differs from the appraisal, it is very likely to be rejected…no matter how great your debt negotiator is!  

                    A short sale is a serious financial decision, so it goes without saying that you should consult your attorney and tax advisor before proceeding. Should you decide that a Nutley short sale is the right move, contact me to come up with a plan that will work for you. 

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