Sue's Thoughts On Our NJ Real Estate Market
We’re all in this together.
In these uncertain times, I’d like to share my thoughts and address concerns you may have about our local real estate market in Short Hills, Summit, Maplewood, Livingston, Chatham and surrounding NJ towns. I’ve included links to interesting articles that you may find helpful and of course I’m available if you’d like to discuss your own personal needs confidentially.
1. Foreclosures, and Pre-Foreclosures: There have been laws put in place to help people who need to sell with upside down mortgages. Three recent Real Estate laws that every homeowner, buyer or seller should be aware of
2. Life Goes On….. Our towns are the first really beautiful towns with excellent public schools off of the midtown direct train line into NYC, and Manhattanites who don’t want to pay for private school, want a yard and some more space will still move out to the suburbs. We don’t have an endless supply of inventory like other parts of the country, so even in tough times, there is still a demand for great houses in great locations (as long as they are priced competitively). Buying a home is a long term investment.
3. If you’re currently renting, can put 20% or more down, have stellar credit, and a steady job, you’re golden.
4. Move-Up Buyers are in a great position because if the market has dropped 10% in a given town, then the loss you’re taking on the sell side will be less than what you’re saving on the buy side.
5. Sell First. This way, if you’re counting on a certain amount of equity from your current home, you won’t have any surprises. For a long term investment, it may even make sense to rent out your current house and hold onto it as an investment. We can discuss your options.
6. Current Home Owners with ARM mortgages: You may want to call your mortgage company to discuss fixed rate options.
In these uncertain times, I’d like to share my thoughts and address concerns you may have about our local real estate market in Short Hills, Summit, Maplewood, Livingston, Chatham and surrounding NJ towns. I’ve included links to interesting articles that you may find helpful and of course I’m available if you’d like to discuss your own personal needs confidentially.
1. Foreclosures, and Pre-Foreclosures: There have been laws put in place to help people who need to sell with upside down mortgages. Three recent Real Estate laws that every homeowner, buyer or seller should be aware of
2. Life Goes On….. Our towns are the first really beautiful towns with excellent public schools off of the midtown direct train line into NYC, and Manhattanites who don’t want to pay for private school, want a yard and some more space will still move out to the suburbs. We don’t have an endless supply of inventory like other parts of the country, so even in tough times, there is still a demand for great houses in great locations (as long as they are priced competitively). Buying a home is a long term investment.
3. If you’re currently renting, can put 20% or more down, have stellar credit, and a steady job, you’re golden.
4. Move-Up Buyers are in a great position because if the market has dropped 10% in a given town, then the loss you’re taking on the sell side will be less than what you’re saving on the buy side.
5. Sell First. This way, if you’re counting on a certain amount of equity from your current home, you won’t have any surprises. For a long term investment, it may even make sense to rent out your current house and hold onto it as an investment. We can discuss your options.
6. Current Home Owners with ARM mortgages: You may want to call your mortgage company to discuss fixed rate options.
7. I'm happy to send the pdfs for the following articles: "Taking The Mystery Out Of Credit", Top 10 Do's and "Don'ts During The Loan Process", and "How Good Credit Transfers Into Lower Scores"
Yours to count on,
#1 Keller Williams Agent in New Jersey 2005, 2006, 2007
#5 Keller Williams "Individual" Agent Nationwide 2007 (out of 75,000)Over 900 Homes Sold!
Cell: (973)464-9129 (call first)
Office: (973)376-0033 ext 101
E-fax: (480)247-4891
Email: Sue@SueAdler.com
Website: www.SueAdler.com...... the ONLY real estate website you need for NJ real estate 20 minutes to an hour from NYC!
Labels: credit scores, Livintston NJ real estate market, Maplewood NJ real estate market, NJ foreclosures, Short Hills NJ real estate market, short sales, Summit NJ real estate market
posted by Sue Adler, Keller Williams Realty at Saturday, October 11, 2008
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