Buying the Money Pit – #10 of 10 Articles on First Time Home Buyer Mistakes

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Buying the Money Pit Buying the money pit is easy when you’re too emotional about a home purchase.  Home buyers can do this because no one buys a house they hate.  You find a home you love and go after it.  Notice the language I just used.  It is very telling.  You look at houses but you buy a home. This is not only the biggest financial purchase most of us…

Bergen County Real Estate Has Stabilized

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Bergen County real estate has stabilized.  This was my projection last year and I am very happy to say that I was right on target.  What I’d said and written was that by the end of 2009 the market would stabilize.  It has done exactly that. Our housing market is improving.  New Jersey MLS data, bank appraisers and housing reports all say the same thing:  We have clearly bottomed out and…

Real Estate Appraisal Rules Have Changed….Uh Oh

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Real estate appraisal rules have changed in major ways.  The changes are a response to the financial crisis.  It’s an effort to avoid issues in the future that created havoc. When the Home Valuation Code of Conduct went into effect by Fannie Mae and Freddie Mac on May 1st, appraisal protocols for mortgage loans changed. To protect consumers, loan officers, mortgage brokers and real estate agents can no longer choose appraisers….