04
Nov 14

Wyckoff Real Estate & Homes For Sale in Wyckoff, Northern NJ Homes

Wyckoff Real Estate & Homes For Sale in Wyckoff, Northern NJ Homes

Thinking About Buying A Home in Wyckoff NJ (Bergen County)

Wyckoff Real Estat & Homes in Wyckoff New Jersey

Wyckoff Real Estate & Homes in Wyckoff New Jersey

As soon as you are offered a great new job or promotion – even if it’s in a new town — your natural response is, “Absolutely, yes!” After all, you landed the opportunity because you are a go-getter — someone who solves problems!
Finding Luxury Homes in New Jersey, Experience teaches that seamless relocation to Wyckoff (or anywhere) takes some determined preparation. Even after you’ve identified your new house, there are a few significant hurdles to clear before happily settling into a new community.
Here are four common mistakes new buyers in Wyckoff have made in the past…and how you can avoid them:
1)    Not Getting Loan Pre-Approval – Once you pack the cartons and load the truck, locating all those documents the bank requests can become next to impossible.  Get it done before the relocation begins!
2)    Not using the right moving company. Moving companies have a wide variety of costs and guarantees. Some give you a fixed price; others leave the final costs up in the air. Promised dates can also make or break a move (speaking of breaking, equally important is having insurance to cover damaged items).
3)    Not using licensed local professionals. In relocation, it is terrifically important to hire experienced Wyckoff appraisers and Realtors®. Also, an absolute must is a thorough inspection by a licensed member of the American Society of Home Inspectors.
4)    Canceling an existing lease too soon. Not every deal closes on time, and if you have given a current landlord notice to vacate the day your purchase transaction is scheduled to close, a week’s delay can create moving mayhem!
There are many avoidable pitfalls when planning relocation to Wyckoff, but having the right pros by your side will help you avoid them.  If you are relocating to Wyckoff, I’m here to help every step of the way to find that Luxury Home in NJ.

 

 


25
Aug 14

Riding the Ups & Downs of Your Home’s Value Online

The Internet has certainly provided consumers with a wide array of tools used throughout real estate transactions that provide more information and more utility than ever before. One of the tools that has grown in popularity of late is the home value calculators that uses your location and historical data of sales in your area to compare your home against those to determine a value.

This value can change over time as new sales are continuously added to the program’s database, giving you a visual demonstration of the way your value has ebbed and flowed over time. Many consumers have used this tool as a way to uncover what kind of equity they have built up in their home and perhaps to decide whether the time is right to sell a particular piece of real estate.

However, because there are so many outlets offering this type of service, there is the capacity to get five wildly different estimates from five different sites, perhaps confusing a home owner more than before by offering such a diverse set of data. The key in accuracy sometimes lies in what the site is trying to accomplish by providing you its service.

For example, if you go to a home valuation site that does not nail down a specific price but rather provides a range and then prompts you to call a local realtor for a more accurate estimate, the credibility of that site as a home valuation site decreases dramatically. Instead of using the data it has to provide a rough estimate, the site offers a broad range that perhaps prompts more questions than answers.

This is all, it seems, a ploy to get you to call a local realtor that will pay the company for the referral. Obviously, there is a certain amount of bias to remain vague in this situation, making the site less useful for home valuation purposes. Take real estate valuations from sites like these with a substantial grain of salt.

Unfortunately, the bulk of sites used to peg a home value online employ some kind of agent tie-in to prompt contact with a real estate agent. For some sites, that means that you have to input personal data before a full value will be given and in some you have to call the realtor to get the actual value after putting in data for the process online. Either way, these tactics turn off many home buyers that might have an actual need for a home valuation.

There are other sites out there, Zillow being the most prominent, that offer home valuation services without all of the catches. Zillow, in fact, asks only for an address to determine the approximate value of a property and while there will certainly be disparities in a Zillow value and the actual value of a piece of real estate, its interface is easy to use and requires the input of no personal information, giving it a great deal of utility to simply get a rough estimate of a property’s value.

Of course, the best way to get a home valuation is to contact a professional home appraiser. While online sites use market data to formulate a price, nothing can beat an in-home appraisal that takes into account all of the features and amenities of your home when determining a value.

However, for those that want a simple valuation without the cost of a professional appraiser or the bait-and-switch tactics of many of the agent-driven sites out there, Zillow is a great site to get a quick and dirty estimate that can be used as a rough estimate for discussions on the future of a particular piece of real estate.

This is another original article by Joe Lane, co-owner of The Lane Real Estate Team at http://www.joelane.com/. Are you looking for an experienced Tri City WA Real Estate agency? With 20 years of service based, business experience, Joe and Colleen Lane work hard to serve home buyers and sellers for the Tri Cities of Washington’s Kennewick, Richland, Pasco, and surrounding areas.


17
Jun 14

Waiting to buy a house in Bergen County NJ ? It’ll cost you

Timing is everything when it comes to a lot of things – baking a soufflé, fertilizing your lawn, and buying a home. Not so sure about that last one? With interest rates going up and housing prices on the rise, you may think that it might not be the best time to purchase a home or even refinance the one you’ve got. But experts disagree.

“It is a big deal to buy a house. But if you do your homework and have the right documentation ready, this could be a great time to buy a home for many reasons,” says Jay Plum, executive vice president of Huntington National Bank, in Cincinnati, Ohio.

Read on for the five major reasons why mortgage experts believe that there is no better time than the present to get that dream house you’ve always wanted.

Reason #1: Interest rates won’t stay this low forever

“A reason to look now into buying a home or refinancing is because these rates won’t stay [put] forever. That’s what rates do – they go up,” says Plum.

In fact, the interest rate for a 30-year fixed mortgage is expected to go up to 5 percent by the fourth quarter of this year and 5.3 percent by the end of 2015, according to a recent forecast by the Mortgage Bankers Association (MBA).

Why are rates rising? Well, one huge factor is that the feds will start raising rates about six months after they stop buying mortgage bonds, which is projected to happen sometime in 2015, says Plum.

“[Rates] probably won’t start shooting up quickly. But a quarter of a point on an interest rate can mean about $100 more each month on [a homeowner’s] loan. For a lot of families, that can make a big difference,” he says.

Reason #2: Credit score requirements are lowering

Is your credit score lower than you’d like to admit? Well, good news: Credit score requirements for borrowers taking out mortgages are easing.

In March, credit scores on purchase mortgages stood at 755, down from 761 in the previous year, according to data from Ellie Mae, a mortgage-software provider. Credit scores for FHA loans dropped even lower to 684, compared to 696 a year earlier.

What brought on this change? The 2014 market is expected to be a more purchase-focused market, says Vickee Adams, vice president of external communications for Wells Fargo Home Lending.

“Having a broader credit score range will serve to attract more borrowers into the market,” she explains.

But why is there a need to attract more borrowers? Well, the demand for refinancing has dropped considerably. Refinance applications are about 70 percent slower than a year ago and are expected to continue to decline, according to a statement by the MBA in April 2014. As a result, banks are trying to find ways to boost lending to homeowners, including lowering credit score minimums.

Reason #3: Spring and summer are the best times to buy a home

It has been a brutal winter, and people who wanted to sell their house just didn’t want to bother with all the snow and cold weather, says Lawrence Yun, chief economist for the National Association of Realtors in Washington, D.C. The same goes for people wanting to buy a home – they just stayed put, he adds.

“Many people who were forced to delay putting their house up for sale are doing so now. But spring has always been an important time in the real estate business,” Yun says. In fact, warmer seasons like spring and summer have always been a popular time to buy a home.

People think about moving during summer vacation, because their kids will be out of school then, which helps makes things easier, says Yun. Buying a new home in the summer gives families enough time for the closing and moving before school starts again.

No kids? Summer is still a popular time to sell or buy even for people without children. And it’s not just because the weather is nicer.

“People just know that there are more listings coming in the spring and more buyers,” Yun says. “But from a buyer’s perspective, there will be more competition from other buyers.”

Reason #4: Buying is still cheaper than renting

Buying a house is a significant purchase, but in most parts of the country, it’s cheaper than renting. If that seems counterintuitive, let’s look at recent research by Trulia, an online residential real estate site for home buyers, sellers, renters and real estate professionals.

According to Trulia, homeownership compared to renting continues to be the less expensive way to live in all of the 100 largest metro areas researched. The study compared the costs of renting and owning assuming homebuyers get a 4.5 percent mortgage rate on a 30-year fixed term loan with 20 percent down.

So why should people buy a home now? The gap is getting smaller between the two choices because of rising mortgage rates and home prices, says Jed Kolko, Trulia’s chief economist and author of the report.

“Now, at a 30-year fixed rate of 4.5 percent, buying is 38 percent cheaper than renting nationally, versus being 44 percent cheaper one year ago,” Kolko says in the report. “Some markets might tip in favor of renting this year as prices continue to rise faster than rents, and if – as most economists expect – mortgage rates rise, due both to the strengthening of the economy and Fed tapering.”

However, the percentage is different in every housing market. In Honolulu, buying is only 5 percent cheaper than renting, while in Detroit, buying is 65 percent cheaper than renting.

Reason #5: Home values are still competitive

Are you looking for a bungalow with a white picket fence, a modern metropolitan penthouse, or a cabin in the woods? Well, it might be time to buy your dream abode before prices go too high.

The good news is that that the prices of homes have gone up but haven’t skyrocketed, so they’re still within reach of many buyers. The median existing home price for all housing types in February 2014 was $189,000, which is up 9.1 percent from last February, according to recent press release by the National Association of Realtors (NRA).

Plus, the housing inventory rose 6.4 percent to 2 million existing homes available for sale, reports the association. So there are more homes to choose from during your search depending on where you live.

“Property values are still very competitive in most markets, but there is a tremendous amount of competition by buyers,” Plum says. “If you are looking at buying a home, be prepared to offer quickly, and get preapproved by a lender which will make things go easier.”


08
Jun 14

Low NJ Mortgage Rates Help Buyers Afford Dream Home in Bergen County

Lower mortgage rates in Bergen County help home owners buy a bigger home in Wyckoff

Low mortgage rates in NJ

According to the Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages with both conforming and jumbo balances fell again last week in Bergen County NJ. Interest rates on 15-year fixed-rate and FHA-backed loans also declined. Average mortgage rates have been dropping recently and have now reached their lowest level in close to a year. Despite favorable rates, however, demand for mortgage applications was down last week. The Market Composite Index, which measures total mortgage application volume, was down 3.1 percent from the week before. The Purchase Index was down 4 percent and the Refinance Index dropped 3 percent. Still, the refinance share of total mortgage activity ticked up to 53 percent, which continues a gradual trend upward after falling below 50 percent last month. The MBA’s weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications. More here.


03
Nov 13

Making Offers that Appeal to Home Sellers in Mahwah NJ

Making Offers that Appeal to Home Sellers in Mahwah NJ

Homes For Sale in Mahwah NJ

Both the concrete details and manner in which an offer is made can have a substantial impact on how a seller responds to it. While there is no way to ensure that a seller will accept a given offer, using knowledge of their situation and the advice of a real estate agent in Mahwah can make offers more compelling and negotiations yield better results.

Sentimental sellers

Buying a home in Mahwah from a seller who cares a great deal about a prospective property can be tricky. The person or people living there may have a strong attachment to the home despite their plans to move out, and letting it go can be difficult for them. In these cases, the seller may be swayed not by the price or financial terms, but rather by the home buyers’ attitude toward their new residence.

While home purchases are transactions, typically with large financial implications for those involved, the personal element cannot always be removed. Even for buyers who can approach negotiations objectively, they should keep in mind that there is no guarantee the property’s sellers can do the same.

If the current residents of a home are emotionally attached, then the key to closing the deal may be in how the buyers treat it. The perception that they will care for the property may be the missing element needed. Such intangible factors are difficult to account for when discussing home sale negotiations, because they vary so much from case to case and are difficult to predict. In some cases, a seller’s opinion of their home may cause them to overcharge, which buyers should watch for.

Should you have the opportunity to speak with the seller be sure to focus on a few elements of the home that you really enjoy rather than discussing your plans to change decor, design or landscaping.

Motivating factors

Home sellers may also be driven by other causes, such as past experience. If a seller has had a potential deal called off at the last minute, then certainty can be more valuable than money. Real estate agents in Mahwah NJ are often able to help buyers to read the reactions of the home seller and develop a negotiating strategy appropriate to the situation.

Another possibility is that a home seller could be preoccupied with other concerns. Moving out of an old home often coincides with other major events, such as settling in to a new job. When that is the case, home sellers are often inclined to make a deal more quickly so they can focus their attention. This may play into buyers’ hands and allow them to close a slightly better deal.

Looking for more advice on buying a home? Check out our Mahwah home buyer resources.


29
Sep 13

Quick Tips To Beat Out Cash Buyers in Tenafly NJ

Quick Tips To Beat Out Cash Buyers for Real Estate in Tenafly New Jersey

You’ve been searching for the perfect home in Tenafly NJ for quite a while, and finally, you’ve found it! You get all of your finances in order and place an offer on the house.

However, you’re not the only one that loves the home, because there are multiple offers — and one of them is cash.

Cash buyers are seen as desirable because they’re almost always a guaranteed quick close. They don’t have to borrow money from a bank therefore won’t have any financing hang-ups, which is where a large portion of offers fall through. Don’t worry; not all hope is lost.

Follow the steps below to beef up your offer and get your foot in the door.

Less Expensive Homes in Tenafly

If you’ve put offers in on homes in Tenafly  at the asking price and are continually beat out by buyers that are paying more, then you might want to consider looking in a lower price range. This is an especially smart strategy for those living in fast-selling markets. By looking at less expensive homes, you can be the one that puts in an offer over the asking price.

20 Percent Down Payment

Save up a higher down payment for the price range of homes in Tenafly you’re considering. If you can come up with 20 percent, then you’re in a position to wave the appraisal contingency for financing with the bank. The more you have in cash, the better.

Take-It-Or-Leave-It Home Inspection

This means that based on the home inspection, you’ll take the property with all its issues, or you’ll walk away. What you won’t do is ask the seller to waste more of their time and money fixing every little problem that’s found.

Fees

Waive the seller concessions, such as closing costs and the home warranty, and pay your real estate broker’s fees. These extra costs add up in the mind of the seller and will show that you really want the property in Tenafly

Going up against cash buyers can be extremely discouraging. But, just because they’re dealing in cash doesn’t mean they’ll get the property. Many investors think they can put in a low offer because they’re dealing in cash.

So show you’re serious about a property, follow the steps above and put in your best offer. You’ll be a homeowner in Tenafly soon enough!


10
Jul 13

The Most Expensive Homes For Sale in Wyckoff NJ

Looking for a Luxury Home in Wyckoff New Jersey? Below Are The Top 10 Most Expensive Homes For Sale in Wyckoff NJ

Most Expensove Home in Wyckoff NJ

740 HIGHVIEW DR – $1,695,000

Luxury homes For Sale in Wyckoff

202 Deep Brook Rd – $1,495,000

Most Expenisve Homes in Wyckoff

273 JOSHUA LN – $1,399,900

 

 

 


01
Jul 13

Digging for Hidden Treasure: ‘Invisible’ Tenafly Home Listings

The actual percentage is nearly impossible to pin down, but something like 15%-20% of the nation’s homes for sale aren’t listed at all. You might assume that every homeowner with a property for sale would relish the effective marketing that comes through the multiple listing service, but there are at least four ways home listings in Tenaflysometimes don’t include everything that really is for sale:

Pocket Listing: Occasionally agents choose to withhold Tenafly home listings from the open market. Reasons vary, but they might wish to keep a choice property for their own brokerage’s clients, or they might seek to create an air of exclusivity around the listing. Digging for these off-market home listings can require energy and persistence, including regular searching through the websites of independent and luxury brokers, contacting scores of agents, or (a good deal simpler) making sure you work with an agent whose own Tenafly real estate network is deep and current.

FSBO: This is the “For Sale by Owner” group, usually comprising about 10% of the market. These properties are easier to find. Just drive through the target neighborhood looking for yard signs without a brokerage logo. Sometimes you will even find Tenafly FSBO home listings on the MLS if the owner is offering a commission to buyer’s agents.

Closely Held Transaction: When transactions are arranged between family members, neighbors, or other acquaintances (about 3% of the total market), they frequently close without appearing on our Tenafly’s home listings.

Expired Listing: When homes aren’t sold within the expected period they can disappear from area home listings. These make up most of the hidden home listings that are still available. A heads-up agent will often be aware of the situation, and if the property fits your criteria, can help you uncover them before others do.

If this summer finds you already on the hunt for a home in Tenafly, or you are just getting started, or are hitting a dead-end in your search, I stand ready to help you land the right property. Contact me today to see what my network can do for you!