Category Archives: Real Estate

First-time Home Buyer; Get Your Docs In Order

Posted on February 2, 2013 | Leave a comment

Want to buy your first home? You’ve probably got some cash saved for a down payment and maybe even recommendations for realty agents from savvy friends you trust. But have you cleared up your credit report, hired a tax adviser or considered the benefits of FHA financing compared with a conventional mortgage?

Kasara Williams, 31, has taken all three steps in a year-long quest to buy her first home. “This whole experience has taught me that it’s important to have your financial act in order,” said Williams, a commercial property manager in Arlington. “It’s important to start your search early.”

Are values improving? For your value questions contact the appraisers at www.scappraisals.com.

Not every first-time homebuyer will need a tax adviser, like Williams did to fill out forms needed to withdraw part of her IRA without being penalized. But everyone interested in becoming a homeowner should prepare early with orderly finances, information and plenty of patience for the long and complicated process ahead.

Disclaimer: For information and entertainment purposes only

What Every Seller Should Know

Posted on January 21, 2013 | Leave a comment

As 2013 emerges with signs of a bottoming out of the real estate slump, homeowners who have been sitting on the sidelines may finally be ready to take the plunge and put their homes on the market.

But for those hoping to sell in the spring, the most popular season for home sales, now is the time to make a few New Year’s resolutions to pave the way for the best deal.

Many North Jersey real estate agents say 2013 is as good a time as ever to sell, as the housing market is slowly creeping back — though still far below the peak.

While home values nationwide have begun rebounding, prices in the New York metropolitan area, which includes North Jersey, ticked down 1.2 percent in October compared with levels a year earlier, according to the Standard & Poor’s/Case-Shiller home price index. Home prices in the region are back to the levels of February 2004 and have dropped 23 percent from their peaks in mid-2006.

Spring is a popular time to list a home for a number of reasons. In the past, corporate executives got their bonus checks in January and began to house hunt, while others received tax refunds. And a spring purchase gives buyers time for the kids to settle down over the summer before heading to a new school in September, said Cindy Marsh-Tichy, president-elect of the New Jersey Association of Realtors.

Disclaimer: for information and entertainment only

Selling a Home to a Real Estate Investor

Posted on December 14, 2012 | Leave a comment

Drive down just about any major road in this country and you’ll probably see the signs: “We Buy Homes Fast!!”

They’re often loud and obnoxious. They offer quick cash settlements. Sometimes they mention ugly homes. Have you ever considered calling the number on one of those signs? Ever wonder what they’re all about?

First thing you should do is find out what your home is worth. This is where an appraisal is needed. Why go into a negotiation without any information. Contact the appraisers at www.scappraisals.com for your appraisal and value questions.

These signs are put up by real estate investors. There are a million flavors of real estate investor but these signs most likely belong to a real estate flipper or a wholesaler and they’re looking for the really incredible deals. If you’re looking to get top dollar for your home, then don’t waste your time calling these guys. If you have a home that needs major work and you don’t have the time or desire to deal with tire kicking home shoppers, home inspectors and contingencies of all sorts, then these guys might be worth considering.

Call the number on a sign that offers a quick, cash closing and you’ll probably get someone who will offer you about 50 to 60 percent of what your home is worth in top condition. It’s very unlikely that you’ll be offered any more than that.

Let me tell you why. When I’m considering a home, I budget in about 15 percent in costs just associated with the process of buying and selling the home. There are transfer fees, taxes, and attorney fees when I buy it, plus real estate agents and seller concessions (what the seller agrees to pay toward the buyer’s closing costs) when I sell.

Disclaimer: for information and entertainment purposes only

Category Archives: Real Estate

First-time Home Buyer; Get Your Docs In Order

What Every Seller Should Know

Selling a Home to a Real Estate Investor

Follow Blog