North Jackson, NJ Centerhall Colonial home for Sale

North Jackson, NJ Centerhall Colonial home for Sale

We are pleased to introduce this adorable North Jackson Colonial House for Sale.

Home is set back on a private, parklike 1+ acre property. Home features hardwood flooring through out, 2 story entrance foyer, eat in kitchen with sliders to back multi tiered deck. Dining Room and Living Room feature parquay wood floors. Family room opens to kitchen.

Master Suite with sitting area, cherry floors and private bath, jacuzzi tub, and shower stall.

Gazebo over looking beautiful parklike property.

Additional features include 2 car garage, 2 storage sheds and full basement. Great North Jackson location for commuters.

Call Anna @ 732 371 3233 or Leanne @ 917 596 2772 to preview this Jackson home for sale.

NEW JERSEY HOME SALES REPORT

NEW JERSEY HOME SALES REPORT

If you’re a buyer looking for a home in New Jersey right now, you’re in luck.

The 1st quarter New Jersey Home Sales Report for 2011 was just released, highlighting an all-time high Affordability Index of 151.1. Of course, various factors contribute to calculating the index, including home price, mortgage rates, average income, and the like. So, over time, change is expected. Yet, now, this number shows that buying a home now, if you can afford it, is a worthwhile investment.

Please visit this link to see the full report on the New Jersey Association of Realtors’ website: 2011 N.J. Home Sales Report

The average home price in New Jersey is $314,900, with an average price of $364,400 in Northern NJ and an average of $223,800 in Southern NJ.

Although the graph on page 9 shows that resale activity volume has decreased from last year, it is the right time to buy if you can afford to do so. Almost 110,000 homes are currently being sold in New Jersey, and a little over 57,000 are located in Northern NJ, with plenty of options for various family incomes, mortgages, and location preferences. Numbers for Central and Southern NJ show that 52,000 home are being sold. So wherever you are in the market for a reasonably priced home in the Garden State, there is something for you.

Lastly, New Jersey has a fairly high affordability index of 151.1 compared to the United States average of 191.0. This index of 151.1 rose rapidly from just 131.7 in the third quarter of 2010.

Call Leanne @917 596 2772 or Anna 732 371 3233 with all of your real estate needs.

FINANCIAL REASONS TO BUY REAL ESTATE NOW

Article Courtesy of Michael Scarimbola of SI Mortgage Group

Financial Reasons to Buy Now By The KCM Crew

Here are three great financial reasons why you should not wait before taking the plunge into homeownership.

1. The 30-Year Mortgage May Disappear:

There has been much debate regarding government's role in providing support for homeownership. There are several experts who believe if Fannie Mae and Freddie Mac's roles are eliminated, or even limited, it may be the end to the 30-year mortgage. This concern is addressed in MSN Real Estate's, Is it curtains for the 30-year mortgage?

2. QRM Requirements Could Be Much More Stringent:

Here are proposed changes to the requirements for a 'qualified residential mortgage':
Certain mortgage types would be eliminated
You would need to put a minimum of 20% down
You would need a minimum 690 FICO score
The ratios of income to both the mortgage payment and overall debt would become much more conservative (28% and 36%)
There would be loans available to purchasers who don't qualify under the new rules. However, they will probably be more expensive to the buyer (both in rate and costs).

3. Rents are Expected to Increase:

The supply of available rentals is decreasing and the demand is increasing. That will lead to an increase in rental costs throughout the year. The Wall Street Journal recently quoted a report by Reis, Inc in which it states, "Expect vacancies to continue declining, and rents rising through the rest of 2011 at an even faster pace."Bottom LineYou may be waiting on the sidelines to see if prices will continue to depreciate before you purchase a home. The mortgage expense is a major piece in the overall financial picture of homeownership. Make sure you consider it when timing your decision.Reprinted with permission.

All Contents ©2011. Steve Harney. KCMBlog.com.

If you know anyone who is looking to buy, sell or refinance a home, please call Anna @ 732 372 3233 or Leanne @ 917 596 2772. The greatest compliment you could possibly give us is the referral of your friends and family.

Patience and Pricing

To settle the greatly heated debate of the current recession, here it is: now is the perfect time to buy a new home. And, if sellers’ homes are priced right to sell, they will.
Although it takes time, the market is still active and making a recovery. It’s important to keep in mind that the real estate market, like the economy, is cyclical. There will be peaks in the market along with valleys.
However, mortgage rates are at their lowest in recent years. Although selling won’t happen overnight, with efficient, focused real estate professionals, the number of days your home remains on the market can decrease.
The marketplace is more stable now than it was a year ago.
Some crucial things to remember when selling or buying:

Buyers--
· More options in housing inventory
· Fewer competitive offers on same properties
· Don’t have to pay asking price
· Various mortgage options
· “Wait and see” approaches are not always best

Sellers--
· Be realistic with your asking price
· Overpriced homes will not sell
· In high demand areas, there will always be buyers
· Properties will not sell as quickly as they did in previous years

Keep in mind that people will always need a place to live!

Sell First vs. Buy First!

Coordinating the sale of your home with a new home purchase can be tricky and stressful. Whether you buy first and sell later or vice versa, you will find that there are obstacles to overcome. Let's look at the first option...SELL FIRST, BUY LATER. Many homeowners often fear that if they sell their home before they are in contract to purchase a new home that they will find themselves stranded with no place to go, or that they will be forced to settle for a home that is not exactly what they had hoped for. On the flip side, if you try to BUY FIRST, SELL LATER, often times, you may find the home that has exactly what you want, but those sellers will not be willing to tie up their home to someone with a home sale contingency. That usually leaves the client in a very frustrated and now in a vulnerable position to potentially sell their home for less than they may have gotten if they sold first, bought later. When your home is already in contract and you now put an offer on the property you wish to purchase, you have more negotiating strength. You are now considered a serious and qualified buyer as opposed to someone that is not able to follow through with the purchase. As Real Estate Professionals, we completely understand the apprehensions of sellers when it comes to making these types of decisions. Leanne & Anna have experience in making your transition as smooth as possible, and can be trusted to make recommendations for your situation that will help you yield the best possible results during negotiations.

While there is no "right" answer when it comes to Sell First vs. Buy First, there are several pros and cons to either situation. Your unique situation needs to be analyzed by a real estate professional and at that point they can offer you the best possible advice. However, generally, you will find yourself in the best position if you sell first and then buy. Often times the buyer of your home will understand that you need time to find something and will be reasonable in their expectations of closing time frame. remember it is ultimately you, the seller, who signs the contract and agrees to the anticipated closing date, so you are usually in the driver's seat when it comes to that.

If you are considering making a move, we can assist you in coordinating that transition and making the process as smooth as possible. Contact Anna or Leanne today to discuss your options.

article courtesy v. vargas Robert DeFalco Realty, New Jersey