Category Archives: Financing

Why Experts Urge Their “5-Year Rule”

Even some veteran renters are looking at today’s housing market and wondering whether it’s time to start an Eastern Monmouth County home search. With prices and mortgage rates as low as they are while rents continue to move higher, the numbers point to home ownership as an ever more obvious choice.

But that’s just the quick, back-of the envelope budget equation: monthly rent vs. mortgage payment less tax savings. If this Summer finds you at the start of your own Jersey Shore home search, many financial advisors recommend that you also consider another rule of thumb – you should plan to stay in your new home for at least five years.
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Posted in Bradley Beach Information, bradley beach real estate, Bradley Beach rentals, Buyers, Financing, home price, home sales, inventory, jersey shore real estate, New Jersey Real Estate, New Jersey Real Estate Trends, Real Estate Market Trends, Real Estate News, Real Estate Trends, Rental Market, Sellers | Tagged , | 1 Comment

Housing Turnaround Picks Up Steam

Last week’s report indicated that the 5.9% increase was more than three times greater than economists expected. According to the National Association of Realtors in Washington, the index of pending home resales climbed 5.9% to 101.1. This matches the two-year high reached in March. Continue reading

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This Month in Real Estate: January 2012 Market Update

2012 shows signs of an improving housing market as the U.S. economy continues its forward-moving yet slow road to recovery. Although there are economists projecting housing prices will decline further, aided by distressed property sales that sell at a greater discount, these prices are expected to rebound considerably later in the year and continue into 2013.

Factors that continue to impede a speedier recovery in the housing are consumer confidence, job-growth uncertainty, and tough lending standards that keep many otherwise qualified buyers from financing a home purchase. However, consumer confidence may be showing signs of improvement according to a report released by Fannie Mae on December 7, which revealed that consumer sentiment toward home prices is stabilizing and that, for the first time in six months, more people believe that prices will soon begin to rise. This is an encouraging development, as much of our economic vitality depends upon the overall confidence of the consumer, and could trigger even stronger home sales as more people feel confident that prices will go up.

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December 2011 Market Update

One of the key drivers of homes sales, the employment rate, is beginning to show promising signs of a turnaround. The four-week average for jobless claims, as of November 19, was 394,250, a drop of 3,250 from the previous four weeks, and at the lowest levels since April. Consumer confidence also rose 15 points in the last month, and is now at its highest point since July of this year. Eric Green, Chief Market Economist at TD Securities Inc. said, “The trend remains very constructive. Jobless claims are back below 400,000, which seems to be the pivot point in terms of a strengthening labor market as opposed to a weakening one.”

In addition to improving employment conditions, home affordability also improved as interest rates fell further, opening the door for more first-time home buyers who accounted for 34% of the sales in October, an increase from 32% last month and over last year. The western United States saw the greatest increase in home sales, which were up 4.4% month to month and up over 15% from last year.

A strengthening job market, along with encouraging signs from the housing sector, including a 10% jump in pending sales for October, are strong economic forces. While mortgage lending still remains a challenge, these forces may send a signal to banks to relax lending regulations and allow for a more rapid recovery.

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Distressed Properties and What They Mean to You

Since affordable pricing tops the list of motivation and criteria for buying, it is no surprise that many first-time home buyers purchase distressed properties, which can be up to 30% below market value. Cost-conscious buyers are the most interested in distressed properties, but it is important for them to take into consideration the additional costs and expenses related to damage or neglect that occurred during the foreclosure process. Continue reading

Posted in Bradley Beach Information, bradley beach real estate, Buyers, CMA, Community Involvement, Competitive Market Analysis, Distressed Property, Financing, foreclosure, home price, home sales, inventory, jersey shore real estate, New Jersey Real Estate, pricing, Real Estate Market Trends, Real Estate News, Sellers, short sale | Leave a comment

For Sale By Owner vs. Selling with An Agent…

Real Estate Agents Make You Significantly More Money
When selling your home, a Real Estate Agent can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. These are key factors in getting your property sold at the best price attainable.

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Posted in Bradley Beach Information, bradley beach real estate, Buyers, CMA, Competitive Market Analysis, Financing, For Sale By Owner, FSBO, jersey shore real estate, New Jersey Real Estate, pricing, Real Estate News, Sellers | 1 Comment

Real Estate Pricing Tips for Sellers

This column is addressed to every home seller in America. Your obvious goal is to get the highest possible price for your home.
I’d like to share a little-known process about how you can get more showings per day than all the competition on your side of town. Also, I’m offering some tips on how to get more qualified prospects per day — and there is a difference.
It has to do with your pricing strategy.

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Posted in bradley beach real estate, Buyers, Financing, jersey shore real estate, preparing your home for sale, pricing, Real Estate News, Sellers | Tagged , , | 3 Comments