(Edison, NJ) New Jersey residents might have heard a lot about waiting for the real estate market to “bottom out” lately from real estate speculators and financial pundits, but before deciding to wait on the sidelines, home buyers need to first consider three timely reasons why waiting can end up costing them.
“No one can time the market perfectly,” said 2008 New Jersey Association of REALTORS® (NJAR®) President, Drew Fishman. “We really won’t know when home prices have officially ‘bottomed out’ until they start to go up. That’s why interested home buyers who are financially capable can’t afford to let these opportunities pass them by.”
- The Federal Housing Administration (FHA) will require a higher down payment percentage after January 1, 2009. The Housing and Economic Recovery Act passed by Congress in July raised the down payment requirement on FHA loans to 3.5 percent, up from the current requirement of 3 percent.
- FHA, Fannie Mae and Freddie Mac mortgage loan limits will drop after January 1, 2009. The February 2008 Economic Stimulus Package temporarily raised the FHA loan limit to $729,750 in high cost areas through December 31, 2008. According to the Department of Housing and Urban Development (HUD), beginning January 1, 2009, FHA will insure single-family home mortgages in New Jersey up to $417,000 in low cost areas and up to a maximum of $625,500 in high cost areas. Buyers purchasing homes in Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex and Union counties will be affected by the new lower maximum loan limit. Loan limits in the remaining New Jersey counties will vary based on the median home price indicator used by FHA. Depending on the area, some buyers in these counties may also face lower limits. Fannie Mae and Freddie Mac insured loans will also drop down to the lower limits as of January 1, 2009, according to the Federal Housing Finance Agency (FHFA). More information is available at www.fha.gov and www.fhfa.gov.
- First-time home buyers can only take advantage of a $7,500 tax credit until July 1, 2009. The 2008 Housing and Economic Recovery Act (HERA) became law last July and included a new, temporary tax credit for buyers who have not owned a home in the past three years. To qualify, buyers must purchase a principal residence on or after April 9, 2008 and before July 1, 2009 to qualify for the tax credit when filing their federal tax returns. Individual buyers with an adjusted gross income of less than $75,000 and joint filers with income no more than $150,000 are eligible. Individual buyers with income of up to $95,000 and couples with income up to $170,000 are eligible for a partial credit. The credit is repaid in 6.67% increments over 15 years making it, essentially, an interest-free loan. For an overview of the tax credit, visit
http://www.njar.com/government_affairs/issues/federal/pdf/tcchart.pdf.
The I-Team & NJAR® is encouraging New Jersey residents to Get the REAL StorySM on real estate in New Jersey with a public education campaign that features an informational website and advertising campaign that also features real stories from recent buyers and sellers. For more information on the campaign, or simply to Get the REAL StorySM on real estate in New Jersey, visit www.REALstoryNJ.com.
Tags: burlington county buyers, camden county home buyers, FHA, gloucester county home buyers, home buyer in new jersey, home buyers, New Jersey Association of REALTORS®, NJAR, real estate market, salem county home buyers
Posted by
admin on Nov 26, 2008 in
Misce4llaneous 
Linda and I wanted to send out this short and sincere Thanksgiving wish to all. In this time of financial crisis and and uncertainty, we need to stop and take stock of what we do have and to be thankful for many of the blessings that have been given us. We want to extend our Thanksgiving wishes to all.
Tags: holiday wishes, thanksgiving, thanksgiving greeting
The I-Team Homes has been marketing quite extensively in Monroe Township NJ including the area of Williamstown. We provide housing market analysis for our clients.
The following is the most current data we have for Monroe Township (we have made some modifications to the way we use to present this information):
For the month of October 2008 -
- Properties Currently Being Marketed – 362
- Average asking price – $262,100
- Properties that are Pending Sales (Under Contract, Not Settled) – 22
- Properties that Settled in September – 24
- Average sold price – $246,200 (92% of average asking price)
- September Settled equaled 11.3% of the total Y-T-D settlements,
Y-T-D Sold Prices were 92% of Asking Price.
We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025.
If you are planning to sell your home and would like to receive a free 12 page report, “Insider’s Secret To Selling Your Home”, directly to your home. “Insider’s Secret To Selling Your Home” is a must have report for anyone planning on selling their home. Don’t wait, call now.
- If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
- If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.
When you call the above numbers you will will hear recorded instructions; you will not be directed to a live agent.
For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/
Looking for a fixer upper property? Willing to put in some “sweat equity” to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/
If you would like a free list of Fannie Mae homes currently for sale , go to: http://www.terryi.com/FNMA/.
Are you behind on your mortgage? We can help you! We are the Foreclosure Prevention Consultants. We’ve been where you are now, don’t make the same mistakes we did. See what we can do for you at http://www.i-teamhomes.com/foreclosure.htm
.
Terry Iwaniw
REALTOR Associate
First Time Home Buyer Specialist
Foreclosure Prevention Consultant
RE/MAX Home Team
609-417-1086
http://www.terryi.com/
http://www.snewjerseyhomes.com/
Tags: buyers, housing market, monroe township, Real Estate, real estate market, sellers, williamstown
The I-Team Homes has been marketing quite extensively in
Winslow Township NJ including the area of Sicklerville. We provide housing market analysis for our clients.
The following is the most current data we have for Winslow Township (we have made some modifications to the way we use to present this information):
For the month of October 2008 -
- Properties Currently Being Marketed – 613
- Average asking price – $253,290
- Properties that are Pending Sales (Under Contract, Not Settled) – 32
- Properties that Settled in September – 27
- Average sold price – $198,530 (92% of average asking price)
- September Settled equaled 7.9% of the total Y-T-D settlements,
Y-T-D Sold Prices were 92% of Asking Price.
We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025.
If you are planning to sell your home and would like to receive a free 12 page report, “Insider’s Secret To Selling Your Home”, directly to your home. “Insider’s Secret To Selling Your Home” is a must have report for anyone planning on selling their home. Don’t wait, call now.
- If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
- If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.
When you call the above numbers you will will hear recorded instructions; you will not be directed to a live agent.
For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/
Looking for a fixer upper property? Willing to put in some “sweat equity” to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/
If you would like a free list of Fannie Mae homes currently for sale , go to: http://www.terryi.com/FNMA/.
Are you behind on your mortgage? We can help you! We are the Foreclosure Prevention Consultants. We’ve been where you are now, don’t make the same mistakes we did. See what we can do for you at http://www.i-teamhomes.com/foreclosure.htm
.
Terry Iwaniw
REALTOR Associate
First Time Home Buyer Specialist
Foreclosure Prevention Consultant
RE/MAX Home Team
609-417-1086
http://www.terryi.com/
http://www.snewjerseyhomes.com/
Tags: buyers, housing market, Real Estate, real estate market, sellers, sicklerville, winslow township
The I-Team Homes has been marketing quite extensively in Gloucester Township NJ including the areas of Blackwood, Erial, and Laurel Springs. We provide housing market analysis for our clients.
The following is the most current data we have for Gloucester Township (we have made some modifications to the way we use to present this information):
For the month of October 2008 -
- Properties Currently Being Marketed – 655
- Average asking price – $225,680
- Properties that are Pending Sales (Under Contract, Not Settled) – 51
- Properties that Settled in September – 40
- Average sold price – $192,100 (89% of average asking price)
- September Settled equaled 8.8% of the total Y-T-D settlements,
Y-T-D Sold Prices were 92% of Asking Price.
We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025.
If you are planning to sell your home and would like to receive a free 12 page report, “Insider’s Secret To Selling Your Home”, directly to your home. “Insider’s Secret To Selling Your Home” is a must have report for anyone planning on selling their home. Don’t wait, call now.
- If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
- If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.
When you call the above numbers you will will hear recorded instructions; you will not be directed to a live agent.
For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/
Looking for a fixer upper property? Willing to put in some “sweat equity” to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/
If you would like a free list of Fannie Mae homes currently for sale , go to: http://www.terryi.com/FNMA/.
Are you behind on your mortgage? We can help you! We are the Foreclosure Prevention Consultants. We’ve been where you are now, don’t make the same mistakes we did. See what we can do for you at http://www.i-teamhomes.com/foreclosure.htm
.
Terry Iwaniw
REALTOR Associate
First Time Home Buyer Specialist
Foreclosure Prevention Consultant
RE/MAX Home Team
609-417-1086
http://www.terryi.com/
http://www.snewjerseyhomes.com/
Tags: blackwood, buyers, camden county, erial, gloucester township, housing market, laurel springs, real estate market, sellers
The I-Team Homes has been marketing quite extensively in Berlin Township NJ. We provide housing market analysis for our clients. The following is the most current data we have for Berlin Township (we have made some modifications to the way we use to present this information):
For the month of
October 2008 -
- Properties Being Actively Marketed – 49
- Average asking price – $245,930
- Pending Sales (Under Contract, Not Settled) – 4
- Properties that Settled in October – 5
- Average sold price – $210,600 (95% of average asking price)
- September Settled equaled 11.1% of the total Y-T-D settlements,
Y-T-D Sold Prices were 92% of Asking Price.
We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025.
If you are planning to sell your home and would like to receive a free 12 page report, “Insider’s Secret To Selling Your Home”, directly to your home. “Insider’s Secret To Selling Your Home” is a must have report for anyone planning on selling their home. Don’t wait, call now.
- If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
- If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.
When you call the above numbers you will will hear recorded instructions; you will not be directed to a live agent.
For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to
http://www.homes4firsttimebuyers.com/
Looking for a fixer upper property? Willing to put in some “sweat equity” to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to
http://www.bestfixerhomes.com/
If you would like a free list of Fannie Mae homes currently for sale , go to:
http://www.terryi.com/FNMA/.
Are you behind on your mortgage? We can help you! We are the Foreclosure Prevention Consultants. We’ve been where you are now, don’t make the same mistakes we did. See what we can do for you at
http://www.i-teamhomes.com/foreclosure.htm.
Terry Iwaniw
REALTOR Associate
First Time Home Buyer Specialist
Foreclosure Prevention Consultant
RE/MAX Home Team
609-417-1086
http://www.terryi.com/
http://www.snewjerseyhomes.com/
Tags: berlin township, buyers, camden county, housing market, market trends, new jersey, real estate market, sellers
Posted by
terryriw on Nov 15, 2008 in
Housing,
Market Analysis,
Real Estate The I-Team Homes has been marketing quite extensively in Berlin Boro NJ. We provide housing market analysis for our clients. The following is the most current data we have for Berlin Boro (we have made some modifications to the way we use to present this information):
For the month of
October 2008 -
- Properties Being Actively Marketed – 81
- Average asking price – $295,460
- Pending Sales (Under Contract, Not Settled) – 3
- Properties that Settled in October – 5
- Average sold price – $267,900 (92% of average asking price)
- September Settled equaled 9.4% of the total Y-T-D settlements,
Y-T-D Sold Prices were 92% of Asking Price.
We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call our Real Estate Hotline toll-free at 1-800-374-8571 x3025.
If you are planning to sell your home and would like to receive a free 12 page report, “Insider’s Secret To Selling Your Home”, directly to your home. “Insider’s Secret To Selling Your Home” is a must have report for anyone planning on selling their home. Don’t wait, call now.
- If you have an immediate need to sell your home, call 1-800-374-8571 x3051.
- If you are planning to sell you home in the near future, call 1-800-374-8571 x3052.
When you call the above numbers you will will hear recorded instructions; you will not be directed to a live agent.
For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/
Looking for a fixer upper property? Willing to put in some “sweat equity” to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/
If you would like a free list of Fannie Mae homes currently for sale , go to: HUD Owned Homes List Request.
Are you behind on your mortgage? We can help you! We are the Foreclosure Prevention Consultants. We’ve been where you are now, don’t make the same mistakes we did. See what we can do for you at http://www.i-teamhomes.com/foreclosure.htm
.
Terry Iwaniw
REALTOR Associate
First Time Home Buyer Specialist
Foreclosure Prevention Consultant
RE/MAX Home Team
609-417-1086
http://www.terryi.com/
http://www.snewjerseyhomes.com/
Tags: berlin boro, home sales, housing market, market, Marketplace, Real Estate, real estate market
Posted by
admin on Nov 14, 2008 in
Finances,
Mortgages The U.S. Department of Housing and Urban Development (HUD) issued long-anticipated mortgage reforms on November 12, 2008, that will help consumers to shop for the lowest cost mortgage and to avoid costly and possibly harmful loan offers from mortgage lenders. HUD will require that lenders and mortgage brokers provide consumers with a standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs. Although, NJ has had this requirement , it is the first time ever at the federal level. The reforms were announced in response to comments received on the Real Estate Settlement Procedures Act (RESPA) regulations that were released in March. You can read the final RESPA rule and any other reforms on HUD’s website.
Tags: consumers, HUD, mortgage loans, mortgage market, mortgage reforms, mortgages, real estate consumers, reforms
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