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…)

Experienced NJ landlords find their investment properties in a variety of ways. Some look for foreclosures, whereby making friends with clerks at the city hall or bank employees who know which properties are about to be sold. Some run advertisements in local newspapers. Others work with a NJ Realtor who keeps their eyes wide open for possible purchases.

Several NJ landlords recommend joining a local landlord or property owner’s association to make contacts. Still, others take an additional step and join local chambers of commerce and clubs such as Kiwanis, Moose, and Elks Lodge. (more…)

The idea of owning rental real estate in NJ seems to be gaining popularity as investors tire of the swoops and swoons of the stock market. Not everyone has what it takes to be a landlord, but those who do may find that rentals are a good way to build long term wealth.

Once you have made the decision to buy NJ rental property, your real work begins. Finding a profitable rental property usually takes time, connections, plenty of research. A licensed NJ Realtor can be a valuable asset when transitioning into your new livelihood. This series of posts will help you along the way.

Know your time table. As with any other investment, you should have a good idea of how long you plan to own a rental property before you buy it. The long you plan to own the rental property, the more you’ll need to invest into maintenance, repairs, and improvements. (more…)

Investment opportunities in real estate abound. As an investment vehicle, NJ real estate allows you to flexibility to control the involvement and time invested. From passive investments in Real Estate Investment Trusts, to buying NJ homes and positioning them for rent, there are may ways to profit from real estate investment. As your agent, I know all the ways, as well as the advantages and drawbacks of each. Let me explain further…

1. Real Estate Stocks and Mortgage Instruments: The passive investor would most likely want to place investment funds into the stock market in the form of equities of major national home builders. On the other hand, they might want to invest in Real Estate Investment Trusts (REIT). This is a fund set up and managed to invest in stocks, bonds and mortgage investments in the real estate area. Discounted notes are another investment strategy. Sellers many times accept a mortgage from a buyer, and after payments have been made for a while, they want to convert to cash. They sell the note to an investor at a discount and the investor then gets payments from the buyer.
(more…)

Buyers use NJ Licensed Realtors to find their second home. In searching for a second home, 53% of vacation home buyers and 52% of investment buyers purchased through a licensed Realtor. However only 15% of both vacation buyers and investment buyers purchased directly from an owner they knew in advance.

A 2006 study profiling second home buyers shows the typical NJ buyer searched seven weeks to find their second home and looked at six properties. Most vacation home owners want to use their property exclusively, and 75% of them report that they never rent their properties. A similair finding was reported among vacation home buyers in 2007.
(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.
(more…)

If you are looking for a home away from home, minutes from the New York Ferry to Manhattan, New Jersey Parkway and the rest of the New Jersey Shore hot spots, one of these NJ homes may be the one you’ve been dreaming about and you can request a showing by Dan Kurland, dkurland@weichert.com or call (732) 233-6969!

To request a showing for any of the above properties, or any other New Jersey Shore homes, contact Dan Kurland by emailing him at dkurland@weichert.com or call (732) 233-6969 today!

Given the demographic demand, the second home market is expected to remain healthy for many years to come. The size of the second home market is significant. Analysis of the US Census Bureau data shows there are 7.5 million vacation homes and 39 million investment units in the United States, compared to 75.2 million owners-occupied homes.

The long term demand for second homes looks favorable because there are large numbers of people in their prime years for buying a second home. Currently, 38.7 million people in the United States are ages 50-59, 45.3 million people are between 40 and 49, and another 40.9 million are 30-39. These younger segments will drive the second home market over the next decade.

(more…)

Vacation and investment home purchases have followed different cycles over the past two years. Investment home sales declined sharply in 2006 as sepculators dissapeared, and the pattern continued in 2007 with an 18% decline to 1.35 million sales nationaly. Vacation home sales set a record in 2006 becuase there was pent up demand from buyers who couldn’t find a property as a result of tight supplies in preceding years. in 2007, recreational property sales declined 30%.

Second home buyers know that homeownership offers imediate benefits and long-term value. in 2007 8 in 10 second home buyers see their property as a good investment. In addition, 44% of all vacation home buyers and 57% of investment buyers said they were likely to purchase another home within 2 years.

For more information on purchasing a vacation or investment property on the Jersey Shore, contact Dan Kurland at (732) 233-6969 or dkurland@weichert.com.

Vacation sales are back to traditional levels, while investment transactions returned to pre-boom sales activity.

In 2007, buyers purchasing investment homes accounted for 21% of home sales, while vacation homes made up 12% of all exsisting- and new-home sales. Sales in each segment declined more than the overall market last year.
(more…)