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Thomas Edison – Thought of the Day

July 25, 2008 | Leave a Comment

“Opportunity is missed by most people because it is presented as hard word” by Thomas Edison
He only had three month of schooling and was almost deaf, “The Wizard of Menlo Park NJ” Yet Thomas Edison is considered one of the most successful inventors in history due to his determination and hard work.

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The Home Purchase Process

July 25, 2008 | Leave a Comment

For many people the process of buying a home is a pleasant one, however there is always the chance of something not going as planned, and when it does, it creates a large headache to everyone involved. Just think about this example where you have given notice to your landlord that you are moving in a certain date because you are closing on your home purchase, and the landlord already rented your current home to someone else who will be moving in an specific date, even if you don’t close in that date you still have to move out because of the other person is moving in… What a stress! Many things like this can happen during a real estate transaction, which can turn the American dream in to a nightmare.

To prevent or minimize these headaches when buying a house, you should always deal with a highly trained and experienced professional, and a Realtor is the biggest architect of a real estate transaction.

Remember, there could be about “fifty two people” or more involved in the process, if any of them fall, it can cause a chain reaction, but if the Realtor is qualified, skillful, and cares for his customer’s benefits he or she should be able to avoid many troubles during the process.

The secret for a smoother real estate process when buying your home is:

* Number one – Choose carefully the professionals, like the Mortgage Company, the lawyers or closing company and the title company, above all chose a good and experienced Realtor who will care for you and will oversee all the transaction.

* Number two – Don’t make plans too confident on the dates given to you, and every thing should be just fine.

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What is happening in the housing industry?

July 25, 2008 | Leave a Comment

Every time we look at the news we see articles about mortgage lenders going
under and the collapsing of sub prime market.
A recent National Association of Realtor gave us the statistics of: 50 percent of loans in the United States are conventional with 20 percent
down payments and are paid on time. About 35 percent of homes are
owned free and clear. Only 15 percent of loans are FHA, VA
or high risk, and of those only two percent are in default
(not in foreclosure). They also predict this will be the fourth
largest market ever, but that information doesn’t make the
Newspapers. That’s why agents must get the word out and
look for the bright spots.

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The New Jersey Real Estate Transfer Fee Tax

July 25, 2008 | Leave a Comment

The State of NJ legislature is trying very hard to impose another tax increase on its residents, like if we don’t have enough.
Realty Transfer Fee (RTF) is a tax already charged to the homeowners when selling they homes. This shore will increase the burden on the New Jersey Home owner, many of whom need to sell their property to move for job relocation or health reasons, some times to realize another financial goal such as retirement or sending a child to college. If the legislators have their way, the home owner will just have a smaller piece of the cake they work so hard for it.
Increase in the Real estate transfer fee tax will also causing increase in the price of homes leading to more real estate inflation and less affordability
Please make your voice be heard, go to www.njhometax.com or call or your State legislator.

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New Homes Construction

July 25, 2008 | Leave a Comment

Despite of the slow real estate market, the construction of new homes in Kenilworth and Union, NJ continue to go on, and appear that the new houses are just getting bigger, and stylish, every where you go around this two towns you seem a new house being build, they are usually much bigger and good-looking than the old houses surrounding it. It is always good to see improvements especially when it is right in our back yard.

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Home Loans

July 25, 2008 | Leave a Comment

Interest rate has just being dropped, and boy I’m so glad.

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IMPACT OF HOME INTEREST RATES FROM THE FED

July 25, 2008 | Leave a Comment

The Fed/Interest rates – what most people don’t understand is that all HOME MORTGAGE INTEREST RATES are determined by the 10yrs. treasury notes as money goes in to these notes, the interest rates will drop

Just because the fed. reduces the rate on their end does not always translate into a immediate drop in Mortgage Interest Rates it may cause a reduction on the home loans but it takes t a little wile.

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where does the housing crises starts?

July 25, 2008 | Leave a Comment

Today we all received the news… Wall Street fell 200 points! Investors are very anxious and not pleased with the already beaten up real estate market, and now the employment reports show signs of weakness, it is just another blow in our country’s economy.

Now, it takes no brain surgeon’s mind to know that the back bone of our economy is industrialization, it’s where the jobs are generated, and for decades now our factories are closing down, giving place for the high profit made with the cheap imported products. Although we are happy to be able to buy cheaper products made in Asia, our jobs and income are just getting weaker, we are loosing our buying power and our dollar is loosing value. Now, here’s the question; when are the American corporation and the great American people going to realize what’s happening and start to demand American made products back in the shelves? It will certainly give this country’s economy a chance to flourish again.

FOR THE LOVE OF OUR WELL BEING, BUY AMERICAN MADE PRODUCTS… IF YOU CAN FIND IT!!!

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Today real estate market

July 25, 2008 | Leave a Comment

In the past two to five years, the consumers especially first time home
buyers are being manipulated by the home seller’s and by those who were
buying and doing half-fast jobs on homes to get a very attractive profit.

The average family was out of luck. Finally the market is coming to a
reason and prices are readjusted to somewhat normal value. Families who are
looking to buy their homes can now take the necessary time to look around
and make a reasonable decision wile the homes become more affordable.

It’s about time!

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Tips on How to Protect Your Credit

July 25, 2008 | Leave a Comment

One of the important things a person has is their credit;
Actually it worth money, since your insurance rate is also based in credit if you have a bad credit your home loan is going to cost more, your credit card interest will cost more and many times employers wants to see a potential employee’s credit.
Here are some of the things you can do to protect your credit:

1. Think twice before you co-sign to some one else, Remember, if the person is late on the payment or don’t pay you are responsible for it,

2. When you send the payments on credit card, home loans, car payment etc make sure it has enough time for delivery and process before the due date.

3. If you can not make the total payment required, talk to your debtors, such as medical bill or car dealer, and arrange for small payments, most of the times they will not send to collection if you are communicating with them.

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