As we discussed in a previous entry, a HUD home may or may not be the right fit for your NJ real estate investment. HUD gives priority to owner-occupant purchasers. However, it there is no acceptable bid during the priority period, unsold properties are then available to all buyers, including investors. Your NJ Realtor will have the necessary details.

There are a couple of ways to find out what HUD homes are available in your area. You can visit the HUD website online, or a better way is to find a participating NJ real estate agent. He or she will know what is for sale under the HUD guidelines. Moreover, your NJ real estate agent must submit your bid for you. HUD generally does not accept bids directly from buyers. (more…)

The less credit card and other consumer debt you have, the better your credit score will be, as will your prospects for getting a decent loan. Lenders usually require bigger down payments then in previous years due to the mortgage mess. Other factors will be the interest rates and generally stronger finances of the person purchasing the NJ investment Real Estate. Interest rates will be higher for those purchasing investments properties because studies show there is a higher likliehood defaults, compared to those covering real estate used as a primary residence. (more…)

First time NJ home buyer loans allow buyers to get into a house more easily. However, just because you’re a first time home buyer doesn’t mean you should use a first time home buyer loan.

What is a First Time Home Buyer Loan? A person’s first home purchase is a big deal. It takes time, energy, and money. A good NJ Licensed Realtor will help make sure you spend your time and energy focused in the right places. To help with the money hurdle, many people use first time home buyer loans. These programs vary depending on where they’re offered, but the general idea is this: first time home buyer loans give financial assistance to qualified borrowers. Such loans are effective in various ways.
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People say the best days to own a boat are the day you buy the boat and the day you sell it. That’s not true when it comes to NJ home ownership, unless, maybe, you live on a boat. The best days in NJ home ownership are when you buy a home and all the way through until the day you decide to sell.

Lots of home owners cry when they sell. Before the ink is dry on the listing agreement, eyes often swell with tears, and we’re not talking about the listing agent. That’s because sellers have developed relationships with their NJ homes. Homes hold treasured memories. It’s common for sellers to be very emotional about their home. Some are overcome by seller’s remorse. However, some sellers weep for a different reason. They sob because they can’t sell their home.

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There’s a great saying in the real estate business. To succeed in life, you want to be:

• The First Child
• The Second Spouse
• The Third Realtor

And like with most sayings, there is some truth in that statement, as agents who pick up NJ real estate listings after sellers have made major mistakes will attest.

But We Want More Money

When the average seller sits down to interview NJ real estate agents, it’s easy to get caught up in the excitement over choosing a sales price. More money means more financial opportunities for the homeowner. Perhaps it means the seller can afford to buy a more expensive home, help pay for her child’s college education or take that greatly overdue vacation. Unfortunately, uninformed sellers often choose the listing agent who suggests the highest list price, which is the worst mistake a seller can make.

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Everything You Ever Wanted to Know About Your NJ Real Estate Agent…And More!

When to Hire a New Jersey Real Estate Agent

If you are buying, instead of selling a house, you really don’t need a real estate agent. For buyers, the only purpose real estate agents serve is to help get past the guard-gated communities, or to unlock keys at the empty homes of sellers. Although a real estate agent can also handle the closing and escrow, it is preferable it be handled by a real estate attorney. Even if you can rave about your real estate agent, and how tenaciously he or she hunts down houses that match your criteria, you still need a good property attorney. Remember to select an attorney on your own. Do not let your real estate agent choose your real estate attorney.

When you are selling your home, a Real Estate Agent can be very helpful. To choose a successful agent, research those who have success selling homes in your neighborhood. Often you’ll find the same two or three agents closing deals. The most successful agents have full-page ads in the local classified magazines listing houses grouped by neighborhoods or areas. Successful agents have many listings. Part-timers and unsuccessful agents may have few, if any, homes listed. To get the attention you deserve, it is best to choose a successful agent who is a full-time partner in selling your home. (more…)