Sayreville & Piscataway NJ Real Estate Blog

Valentine’s Day is just around the corner.  Are you wondering what to get your loved one? Buying Piscataway New Jersey foreclosures may not be on the top of your list, but maybe it should be. Do you need some extra room? Is it time to spread out? Are you a repeat buyer?

 

You’ve probably heard the term “buyer’s market” more often than you care to, but if you want to expand your living quarters, you might want to pay attention.

 

What is a buyer’s market?

The typical reply might be something like, “A buyer’s market is where the supply is greater than the demand; the heavier the supply, the stronger the buyer’s market.” What you really need to know is that a buyer’s market is heavily tipped in your favor. Mortgage rates, housing supply and negotiations are all pointed towards helping you find – and buy - the home of your dreams.

 

What’s so great about buying Piscataway New Jersey foreclosures or other homes for sale now?

Whether you’re a first-time buyer or currently own a home and want to upgrade, there are plenty of reasons to get into the action now:

 

• Home prices are lower than they’ve been in 12 years.
• Foreclosures are going for rock-bottom prices as lenders try to make up their losses.
• The number of programs to help buyers get into a new home is higher than it’s ever been.
• Between government programs, lenders’ programs and private programs, the chances of getting into a home you can afford are high.
• Many sellers are eager to find qualified buyers. If you’ve been pre-approved for a mortgage, you have a better stance in negotiations.
• Mortgage rates are lower than they’ve been in a long time, but are slowly starting to rise again.

 

These are just a few of the reasons.

 

Why buy foreclosures?

Foreclosures are selling at much lower prices than other homes. In fact, many expect to save at least 30% when buying foreclosed property and that percentage isn’t unrealistic.

 

If you’ve been trying to figure out what to buy your Valentine, and you’ve been thinking about buying a home, look around at Piscataway New Jersey foreclosures. Not only can you find a fantastic deal, but you’ll also be able to celebrate Valentine’s Day in a new home!

 

Links:

programs to help buyers

http://www.hud.gov/buying/localbuying.cfm

 

Mortgage rates are lower

http://online.wsj.com/article/SB10001424052748704193004574588240879737018.html?mod=WSJ_hpp_sections_realestate

 

Buying foreclosed property

http://hubpages.com/hub/BuyingForeclosedProperty

 

As many Sayreville New Jersey real estate agents will tell you, curb appeal shouldn’t end when the sun goes down. Exterior lighting can be both utilitarian and create a welcoming atmosphere even at night. The huge variety in lighting types will also lend uniqueness to your property and make it stand out to potential buyers.

 

Benefits of Popular Lighting Types 

• Reduces crime:  Motion-activated flood lights on the front and back porch are essential in high-crime areas and always a good idea for any area. It’s been proven that criminals don’t like Sayreville New Jersey real estate with bright exterior lighting.  The bright lights will draw attention to visitors before they’ve ever reached your door.  Additionally, you should never discount the value of being able to see clearly when arriving home in the dark.

 

• Decreases trip hazards:  Solar lamps make beautiful walkway lighting. They’re generally not bright enough to be obtrusive or attract many nocturnal insects, but they will show the exact location of a walkway and reveal any trip hazards on the way. Solar lamps also provide an additional selling point on which Sayreville New Jersey real estate agents can capitalize.

 

• Improves safety:  Good garage lighting can help you find your way to and from your vehicle. More importantly, the garage is a potentially hazardous area. Good lighting ensures that anyone walking through or working in the area will have a clear view of their surroundings and the task they may be performing.

 

• Relocates bugs:  In rural areas, a high outside light (similar to a street light) not only lights large areas enough to recognize any hazards, they can also draw nocturnal insects away from lights emanating from the home. Moths and other insects often plague rural residents as they like to fly into houses from any open door or window.

 

Want me tips like this?  Subscribe to this blog to receive free homeowner tips in your email inbox once or twice a week. Email me Freddie@freddiemoorer.com

 

 

Curb appeal:

http://www.hgtv.com/curb-appeal/show/index.html

 

Walkway lighting:

http://articles.directorym.com/Walkway_Lights-a968310.html

 

Nocturnal insects:

http://dev.pestworld.com/Press-Releases/A-CHILL-IS-IN-THE-AIR-ARE-PESTS-IN-YOUR-HOME

Yes, it’s time for the Holidays again, which means it’s time to decorate your Sayreville & Piscataway New Jersey home. If you’re big on recycling, use eco-friendly products and try to keep your carbon footprint on a low scale, you may be trying to figure out how you can make your Holidays a blast without stepping away from your ideals.

 

Here are a few tips to help you get your Sayreville & Piscataway New Jersey home decorated in eco-friendly style!

 

Tips for an Eco-Friendly

Holiday: 

1. Instead of buying wrapping paper, buy decorative wooden boxes, tin boxes, cloth bags or other eco-friendly packaging to hold your presents. You can get any of these with Holiday themes, most won’t get thrown away for years and, when they finally do fall apart, they’re biodegradable.

 

2. If you do use wrapping paper, save the paper and reuse it next year: recycling at its best!

 

3. Buy a real tree instead of a fake one and find an organization to plant one in its place. Once Christmas is over, you can have the Christmas tree recycled into wood chips, mulch and other wood products.

 

4. Try buying your gifts from an eco-friendly store. Online or offline, these businesses offer gifts made from recycled, reused or all natural materials.

 

5. Create fantastic holiday decorations with reusable materials from around the house. There are tons of decoration ideas around the Net, so you’ll be able to find some ideas that use things you already have lying around.

 

6. Send an e-card instead of a regular Holiday card, or buy
   Holiday cards made from recycled materials.

 

7. If you want lights, use LEDs (low-energy lights). Not only do they use less power, but also if one light goes out, the rest stay lit.

 

With a little bit of thought and ingenuity, your Sayreville & Piscataway New Jersey home can be as bright and cheerful as you’ve always wanted without worrying about the impact on the environment. Have a Happy (and eco-friendly)

Holiday!

 

If you’re looking for a green home to hang your eco-friendly wreaths in, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

 

Links:

Eco-friendly packaging

http://www.nashvillewraps.com/eco-friendly-packaging/mc-051.html

 

Christmas tree Recycled

http://www.christmastree.org/recycle.cfm

 

Holiday decorations

http://www.goodhousekeeping.com/home/holiday-ideas/christmas-wreath-projects

 

Few questions are more important this time of year than which Christmas tree you should buy for your Sayreville & Piscataway New Jersey home.  There are some things to keep in mind when looking for the perfect Christmas tree, here are just a few: 

Real Or Artificial Tree?Real Christmas trees require some care; if you’re planning to travel this holiday season, you may not want a live tree.  You must water the tree to make sure that it doesn’t lose its needles before Christmas day.  The live trees are not fire resistant, the dried out pine needles can get too hot from the lights and may burst into flame.  

On the other hand, there isn’t any up-keep with an artificial Christmas tree, and many look quite realistic.  The plastic Christmas trees have an added bonus of being flame retardant.  Then, there’s the convenience of not having to go out in the cold weather to pick the tree out. 

For those of you who can’t imagine Christmas without the pine needle smell, you can buy air fresheners that mimic the smell of fresh cut pine.  For some, an artificial tree is the best of both worlds. 

How Big Is Too Much Tree?Now that you’ve decided what kind of Christmas tree to buy, you have to find out how big a tree you can fit in your Sayreville & Piscataway New Jersey home.  It could be that the only thing limiting the size of your Christmas tree is your budget; in that case, your decision is easy.   

However, if you’re limited on space, you’ll need to decide the best place to put your tree first.Try to think of how the area will “frame” your Christmas tree.  Consider how much traffic goes by the area and whether there will be enough room for the presents to stay safe.   

Break out the measuring tape so you don’t have to guess when you’re on the Christmas tree lot; trees look deceptively small on the lot.  Or, if you opted for the fake Christmas tree, you’ll know exactly which box to pick out; just look for the right size. 

Want to buy a Sayreville & Piscataway New Jersey home that has space for a bigger tree?  I can help.  Give me a call today at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com. 

LINKS:Christmas treehttp://www.learn2grow.com/gardeningguides/trees/featuredplants/ChristmasTreeOptions.aspx 

Water the treehttp://www.ehow.com/how_2343113_care-christmas-tree.html 

Artificial Christmas treehttp://pre-litartificialchristmastree.info/ 

A recent interview with FHA commissioner David Stevens on CNBC gives hope to Sayreville New Jersey real estate owners with FHA loans. The Federal Housing Administration now covers at least 30% of new home loans, so when Stevens announced that it might not make its 2% capital reserve, people were understandably nervous. For no reason, Stevens says in the CNBC interview.

 

Instead of immediate risk management in the form of strict guidelines that might make it harder on potential Sayreville New Jersey real estate owners, such as those Fannie Mae and Freddie Mac have put on condo mortgages, the FHA is going for some changes. The changes include hiring a chief risk officer and requiring higher capital standards for loan originators.

 

Once it was out that the FHA wouldn’t meet its 2% (please note that the FHA itself is the one who broke the news), news portals, blogs and other websites spread the news that the FHA was a train wreck. However, the CNBC interview with Stevens cleared the air a bit.

 

It appears that the FHA, put in place for instances like this when people can’t afford other loans, actually has two capital accounts. According to Stevens, the FHA has “lots of capital in primary reserve to cover expected defaults.” Combined, FHA capital is over $30 billion dollars.

 

At the present, says Stevens, the FHA isn’t considering a minimum credit score, and they may not have to. Looking at their portfolio, the average credit score has gone up 60 points, from 630 to 690, pointing to a higher quality of borrowers.

 

So, when thinking about buying Sayreville New Jersey real estate and looking at mortgage companies, don’t forget to look at the FHA. If Fannie Mae and Freddie Mac are lending, the FHA is – and it’s going strong!

 

You can watch the CNBC video for the full interview.

 

If you’re looking for a beautiful home, I can help. Call me now at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Might not make its 2% capital reserve

http://portal.hud.gov/portal/page/portal/HUD/federal_housing_administration/docs/FHA%20Actuarial%20Review%20Briefing.pdf

 

FHA

http://www.hud.gov/offices/hsg/fhahistory.cfm

 

CNBC interview

http://www.cnbc.com/id/15840232?video=1274114504&play=1

 

Oh, the dreaded/happy DOM question. “How long has this house been up for sale?” If it’s your Sayreville & Piscataway NJ home for sale we’re talking about, you’re probably wondering about the split “dreaded/happy” bit. For that matter, whether you’re a buyer or a seller, you’re probably asking, “what the heck is ‘DOM’?”

 

Days On Market

“DOM” is the shortened industry term for Days on Market, used by the multiple listing services (MLS). It’s exactly what it sounds like: the number of days your Sayreville & Piscataway NJ home for sale has been on the market. This metric covers the time it actually goes on sale to the time the deal is closed.

 

Why Is DOM Important?

Remember the “dreaded/happy” part at the beginning of this article? As a buyer’s agent, I might gleefully answer, “Fifty days.” I say “gleefully”, because a house that has sat on the market for a long time is a good thing for my client. The seller is probably more eager to sell than a month before, and is most likely willing to work a deal. An eager seller makes a happy buyer in most cases.

 

On the other hand, as a seller’s agent, I might not be so happy about it, and for the same reason. My seller is now an eager seller. I want to get the best deal for my client, but I know the buyer has the upper hand. It is then up to me to help my client get the home sold without giving away the barn, the pool, the tool shed and the tools.

 

Already, you may be beginning to understand how the Days on Market metric can affect the sale of your home.

 

The problem with the DOM metric is that it causes buyers and agents to build false assumptions. If a home has been on the market for an above-average length of time, we start to wonder, “What’s the matter with that listing?” Even though I know there are other reasons for a home to go static and not sell, many people automatically think there’s something wrong.

 

Although you can’t force a house to sell, you do have control over some of the reasons for an extended DOM metric:

 

• The home may be overpriced – Nothing is wrong with the property itself; it’s just priced too high.

 

• Testing the market – Although it’s a big mistake and agents will tell you so, some sellers test the market by throwing a high price on a home they don’t care if they sell – just to see if somebody is foolish enough to take it.

 

• Sticking to your guns – Often, sellers get fixed on a price and won’t budge, come hell or high water. They figure they can wait around until the market can meet their price, not the other way around.

 

• Renovations – Sometimes, a home will go on the market in the middle of renovations. The sellers aren’t ready to let the home be seen, so it just sits there.

 

• Availability – A growing problem is the lack of access to a Sayreville & Piscataway NJ home for sale. Sadly, agents and FSBOs alike seem to be unavailable when a buyer wants to view the home. Obviously, no viewing means no sale.

 

Don’t let your DOM get high because of simple mistakes. If you’re serious about selling your home, remember the five reasons above and make sure you aren’t doing them.

 

If you’re ready to sell your home with a professional who understands how to keep the DOM to a minimum, give me a call today at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com.

 

 

Links:

Multiple listing services

http://en.wikipedia.org/wiki/Multiple_Listing_Service

 

Buyer’s agent

http://home.howstuffworks.com/real-estate/house-buying11.htm

 

FSBOs

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