Sayreville & Piscataway NJ Real Estate Blog

The real estate industry is full of numbers and metrics that can influence your home for sale in Mercer & Middlesex County NJ. Here are just a few you need to know before putting your house on the market:

1. Pricing – Is your home for sale in Mercer & Middlesex County NJ worth more than you bought it for? Even now, it’s a possibility. Check the average sales prices for the homes in your area, neighborhood and street. You might be pleasantly surprised. Contact your local agent for the information.

2. DOM – Days on Market is the time period a home sits on the market before closing. Currently, the average days on market in almost any area are rather high, but the actual metric may change depending on the price of your home. If you’re faced with a timeline and have a set goal for the sale, the average days on market for your area is a number you need to know. Again, you can ask your local real estate agent.

3. List Pricing – The average list price tells you how much your competition is going for. If you’re trying to sell your house way above the average list price, it probably won’t leave the market.

4. Competition – How much competition do you really have? How many “For Sale” signs are up? The higher the inventory, the lower your chances of selling the home quickly.

Of all the numbers to know, these are at the top. As every agent knows, the best way to sell your home for sale in Mercer & Middlesex County NJ is to do the research – and then hire a proven real estate agent!

If you want to sell your home and need current information, I can help. Call me now at 732-247-1935 ext182 or email me at freddie@freddiemoorer.com for more information.

Links:

Average sales prices

http://www.realtor.org/research/research/ehsdata

Days On Market

http://homebuying.about.com/b/2008/03/10/why-days-on-market-matter-to-home-buyers.htm

Listing price

http://www.realtor.com/Basics/Sell/Index.asp

Have you heard of the first-time homebuyer’s tax credit extension? Last month, President Obama signed the extension to help first-time homebuyers (who didn’t get their sales in by November 30th) buy a house that meets their needs. What about those who already own Mercer & Middlesex County NJ homes, are doing well and want a larger home?

To those who already own a home, Merry Christmas! The Workers, Homeownership and Business Assistance Act of 2009 didn’t just come with an extension; it came with improvements. Those in governmental positions of authority reasoned that if someone wanted to get a bigger home, they should get some kind of help too, thus further helping the overall real estate market.

If you own a home, you can now receive up to $6,500 in tax credits for buying one of the Mercer & Middlesex County NJ homes for sale. The actual wording is “$6,500 or 10%.” Here are a few of the important points you need to know:

• Income Qualifications – Your modified adjusted gross income (MAGI) as a single taxpayer must be less than $125,000 ($225,000 if you file jointly). Partial credit may be received by those with a MAGI of less than $145,000 (single) and $245,000 (jointly).

• Home Ownership Qualifications – You must have lived in the home you own for five consecutive years out of the past eight to qualify. You do not, however, have to currently own the home you’re using to qualify. The key terms are “five consecutive years” and “in the past eight years.” If you lived in your home for five years straight, but sold it two years ago, you are still eligible for the tax credit. If you’re filing jointly with a spouse, both you and the spouse have to qualify.

• Cost Qualifications – The cost of the home doesn’t have to be more than the home you already own, but it does have to cost less than $800,000. As a side note, the government has put a definitive cap on the housing costs. If the home you’re looking at is a solid, non-negotiable $801,000, it isn’t eligible for the credit.

• Purchase Date – The final date for the purchases to be secured is April 30, 2010. The actual closing date must be finalized before June 30, 2010.

Most couples move into a home thinking they will “eventually” get a bigger home once they have a family. Then the family comes along, the house is full and they can’t buy a larger home due to financial issues. The tax credit is a perfect opportunity for families to find Mercer & Middlesex County NJ homes that fit their expansion needs. Take a chance and look around; your dream home may be only a city block and $6,500 away!

If you’re looking to expand and take advantage of the tax credit, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

First time homebuyers

http://www.federalhousingtaxcredit.com/

Modified adjusted gross income

http://www.moneybluebook.com/adjusted-gross-income-and-modified-adjusted-gross-income/

Tax credit

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

Most articles across the Net that focus on finding a real estate agent tell you what to look for to find a good one. What if you already have one, though? How can you tell if your Mercer & Middlesex County NJ real estate agent is the one that caused previous clients X, Y and Z to have never-ending nightmares? What if they’re related to the Wicked Witch of the West and, horror of horrors, you don’t know?

It’s enough to give a person the terrors, even though Halloween is already past. In the interest of helping you have a good experience (thus raising the reputation of agents everywhere), here are three things you can do if your Mercer & Middlesex County NJ real estate agent starts giving you the heebie jeebies:

1. Find out if they’ve had any training since real estate school. Although it depends on the state, most agents have to complete a three- to six-week period of schooling. If they pass the real estate licensing exam they find a broker, sign a form, sign up with some real estate associations and are immediately moved into the echelons of “real estate professional.” That’s it.

If your agent hasn’t had any more training than that, there’s a high probability they don’t know everything they need to know to give you the professional help you need. Real estate school can only teach so much, especially in three to six weeks.

2. Try to reach your agent by phone and email. If you get a voice mail, leave a message and see how fast they return the call. See how fast they return the email. Many agents leave comments on the listings such as “for questions, comments or to show, contact listing agent,” which means the only way potential buyers can get any extra information or see your home is by contacting your agent. If your agent never returns emails or phone calls, you may be missing out on potential buyers.

3. Consider if they’re willing to show you houses you want to look at, or if they’re too busy. Some agents have a strange rule that they’ll only show a certain number of houses. Other agents seem to be too busy to show you a few extra homes you’re interested in. If either of these are the case, don’t call another agent – get rid of the one you have, first.

If you find that your Mercer & Middlesex County NJ real estate agent is a genuine nightmare, take a step back and reassess whether you want to use them or not. If you decide you want to hire another one, first let your original agent know and officially cancel the contract.

If you’re looking for an experienced, well-educated real estate agent, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Find a good one

http://homebuying.about.com/od/realestateagents/How_to_Find_Interview_and_Hire_a_Real_Estate_Agent.htm

Real estate school

http://www.kaplanreschools.com/

Listing agent

http://homebuying.about.com/od/realestateagents/qt/0407ListingAgt.htm

Working to have a safe Mercer & Middlesex County NJ home environment is important to everyone.  We want our children to have safe water, clean air, fresh food and a healthy earth for their future.

One area where you might consider decreasing your impact on the environment is in your own home construction.  There are several ways you can have a safe and clean green home construction.

• Find a “green” builder to help with your Mercer & Middlesex County NJ home.  Search the Internet for professional green builders.  It takes a special contractor to coordinate the elements of home building to ensure maximum energy savings.  Buying green materials is just one step toward having a green home.  To achieve ultimate efficiency, the different structural parts of plumbing, electricity, gas lines, and framework need to be coordinated.
• Buy green materials from different vendors.  Shop around to ensure you are getting the best deal.  One vendor may sell stone at an exceptional price, but his timber may be overpriced.  Natural supplies can be in short availability in some areas.  Natural builders and vendors are working together to build a greener home construction industry, but it is still a business.  It is your responsibility as the homeowner to make sure that you are getting the best deal.
• Continue the “green” theme with your home decorations and furnishings.  The construction of your green home saves resources and energy.  You can reduce your impact on the environment even further by using energy saving appliances, eco-friendly interior paint, and sustainable wood flooring in your home.

Building your Mercer & Middlesex County NJ home using green construction is a great start to a cleaner, brighter future. 

I can help you learn more about green home construction options.  Call me at 732-247-1935 ext182 or email me at freddie@freddiemoorer.com for more information.

Links:

Professional green builders - http://www.builditgreen.org/

Green materials - http://www.ciwmb.ca.gov/greenbuilding/Materials/

Furnishings - http://www.greenhome.com/

If you’re looking at homes for sale Mercer & Middlesex County NJ, want to buy a home and are waiting around for better prices, you might want to rethink your strategy.

If you’re a market watcher, soaking up the information overload across news media and Internet websites, you’re probably overwhelmed with confusion by now. Is the housing market getting better? Is it getting worse? Was there really, when it gets down to it, a housing bubble collapse? And, if so, who popped it?

First, the quick answers. Yes, the housing bubble collapsed, and everybody had a hand in popping it: the government, the lenders, the investors and the general public. Now the hard answers: it’s getting better – and worse.

The truth is that market predictors are all on the fence. With the ARRA (American Recovery and Reinvestment Act) giving first time homeowners some incentive to buy homes for sale Mercer & Middlesex County NJ and elsewhere, there has been a steady increase of sales. However, once the tax credit deadline hits at the end of this month, the numbers are once again expected to drop.

Again, though, it’s better and worse. While the housing market is still dropping in some areas, such as the southeast in

For instance,

Just because this is a buyer’s market, doesn’t mean you’ll get the exact price you’re looking for. If you want to buy a home and you’re waiting around for the prices of homes to plummet into a “sweet deal,” make sure you don’t wait yourself into an expensive mistake.

Instead of checking market forecasts, potential homebuyers need to look at things the way we always should have. Do I want to buy a house? Can I afford one of the homes for sale Mercer & Middlesex County NJ the way things are now? By researching, crunching numbers and answering the important questions, you’ll find the sweetest deal you could ever have: a wonderful house you can afford.

If you’re looking for a place to call your own, I can help. Call me at 732-247-1935 ext182 or email me at freddie@freddiemoorer.com for more information.

Links:

ARRA

http://www.recovery.gov/Pages/home.aspx

Strong markets

http://images.businessweek.com/ss/09/08/0811_strongest_housing_markets/1.htm

Can I afford one of the homes

http://www.hsh.com/calc-howmuch.html

There are a lot of financing options to help you buy Mercer & Middlesex County NJ real estate, if you can meet the credit guidelines.   

Most lenders prefer to use 30-year mortgage loans.  With a longer loan term, the lender can collect more money in interest over the life of the loan.  For those who are credit-worthy, a 15-year mortgage term may be offered.  So, what is the difference between the two?  Here are a few guidelines: 

What About a 30-Year Mortgage?Thirty-year mortgages are becoming the normal term for Mercer & Middlesex County NJ real estate loans.  The payments are usually more affordable and lenders are quick to recommend them.  Lenders are more likely to offer you a higher loan amount with a 30-year loan, but the trade off is usually a higher interest rate.   

What Are The Benefits Of A 15-Year Mortgage?Signing up for a 15-year mortgage can save you a lot of money in interest payments.  True, your monthly payments will be higher than with a 30-year loan, but the impact on your long-term finances may be worth it. After just 16 years, you can start investing the money that you’re no longer spending on your mortgage into other real estate properties or investment opportunities.  You can build your investment portfolio with just the money you would’ve spent on your monthly mortgage payment.  

What about Prepayments?Even if you do decide to take out a 30-year loan, you can still have some of the same benefits of the 15-year loan.  By making prepayments, you can take years off a 30-year loan and still have the freedom of making smaller monthly payments, if you need to.  Before finalizing your decision, ask your lender if there are any penalties for making prepayments. 

A 15-year mortgage is usually the better financial decision, because you can save thousands of dollars over the life of the loan.  The interest on a loan may be halved by choosing a 15-year loan. 

No matter how you choose to finance your Mercer & Middlesex County NJ real estate, I can help you find the home that meets your needs and budget.  Call me today at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information. 

LINKS:Benefits of a 15-year mortgage:  http://financialplan.about.com/lw/Business-Finance/Personal-finance/15-Year-Mortgage.htm  

Investing:  http://en.wikipedia.org/wiki/Investment 

Prepayments: http://www.mortgageqna.com/mortgage-terms-glossary/prepayment-definition.html