Is the $8000 Tax Credit Causing Buyers to Overlook Even Better Short Sale Opportunities?

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There are many homes for sale with steep discounts because they are a short sale and you may find a house that is a better “fit” for you in a short sale than trying to buy a home that you really don’t love just because of the tax credit.

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….

Affordable Dumont Rocks! A Bergen County Value For Buyers

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Affordable Dumont rocks!  It truly is a Bergen County value for buyers.  I’ll explain why. Crunching numbers to analyze the real estate market has taught me a lot. Over the years, I’ve found that the relationship between the number of homes for sale and under contract is a great indicator of how the housing market is doing. When that ratio is 2:1, the housing market is strong. Ok, I know, it’s…

Home Inspections in New Jersey and ASHI.org

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Home Inspections in New Jersey Home inspections are a key part of buying a home.  While there are people who advise eliminating home inspections when you are faced with a multiple bid, I never advise this.  Even if the home is new construction, it’s best to have the guidance of a professional home inspector. In New Jersey, home inspectors are licensed by the State but there’s also another resource for…

Beware of Short Sale Fraud

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Beware of short sale fraud.  This is a growing problem in the short sale market. There is a new thief who preys upon homeowners who must put their home on the market as a short sale. Simply put, a short sale occurs when a homeowner can no longer pay his mortgage, has no other assets and the loan amount is greater than the home is worth. As a result there…