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December 2017

Found 10 blog entries for December 2017.

People are concerned after seeing values of homes increasing faster than historic norms. This is making many Americans nervous, thinking another buble is waiting to pop. The lenient lending standards from the past decade have disappeared. This is what created false demand in the housing market.

These unethical practices, no longer exist. But what about prices?

Housing Prices are NOT Heading for Another Crash | MyKCM

When you take a look at the charts, you can see home values are not moving as quickly as they did before the crash. Also you have to understand after such an intense crash the market is almost trying to play catch up with itself. 

Home prices are rising but not at such an extreme rate as we saw in the past.

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The National Association of Realtors (NAR) recently released their 2017 Profile of Home Buyers and Sellers. This Report shows the most important things buyers and sellers are looking for from realtors.

As Realtors we are committed to giving you the excellence you deserve. We promise to give you the best real estate insight in the Hamburg, NJ and Vernon, NJ market Place. 5 Benefits you will get from hiring a Mountain Resort Property Real Estate Agent.

1. Understanding the Real Estate process

If you are new to the home buying process, an experienced real estate professional can explain exactly what to expect during the entire transaction so you aren’t caught off guard.

2. Help Show unnoticed features and Values of a Home

Whether it’s

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4 Reasons to Buy a Home This Winter!

here are four reasons to buy a home this winter

1. Prices are Rising

Home Prices across the nation continue to rise. Core Logic's latest report claims a large increase of 7% over the past 12 month's. We have yet to feel this dramatic home value increase hit our area in Hardyston, NJ and Vernon, NJ. But maybe in the next few years, considering values near central jersey are starting to rise.

We have reached the bottom of the market here in town. With most top real estate predictive analytics stating this claim, it is no longer a waiting game. 

2. Intrest Rates on Mortgages Predicted to Increase 

Intrest rates for 40-year mortgages have been hovering around 4%. This is a very low rate,

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 Instead of purchasing another home many Baby Boomers are choosing to sell their current homes and renting a place. This has been reported in a recent article from CNBC.

“Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent…

Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”

Renting for the short term will allow you to familurize yourself with a new neighborhood. Espesialy if you are moving to a new part of the country or county. But Renting for the long term can have some cons.

A mortgage payment remains fixed. Rents, however…

The Census

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Home Prices across the country are on the rise over the past 12 months. In the same amount of time interest rates on mortgages have stayed historically low. This is allowing many buyers to enter the market.

 

Sellers Should be concerned about the price increase, at what price will your home sell for in 6 months? Buyers will look at something completely different, the long-term price. What will happen to the cost of my home over the length of time I own my home.

Freddie Mac, The Mortgages Bankers Association, and Fannie Mae are predicting mortgage rates will increase by late next year. Alos looking at some projections of the housing market see it rising another 4.7%.  

What Does This Mean as a Buyer?

If home prices appreciate by 4.7% over

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It is important to get pre-approved so you can be competitive in the marketplace. The most desirable homes to get listed in most markets are swept up buyers who know what they can afford. One of the best ways to show your commitment to buying a home is getting showing the seller you are ready to buy a home. 

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac states on their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in

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Some Highlights:

 

  • Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking a lot about it. 
  • Living within a budget will not only help you save money for down payments but will help you pay down other debts that might be holding you back.
  • 95% of First Time home buyers are willing to sacrifice to buy their home faster
  • Stay on top of Student Loans and Credit Cards to make sure you don't delay the purchase.
  • DownSize your Spending to Lift your purchasing power.
  • Get Pre Qualified, this will make you more competitive when looking for homes.
  • Enjoy the process.

 

   
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According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high. 

Many mortgage programs offered by agencies like Freddie Mac and Fannie Mae allow buyers to put down as low as 3% to purchase their dream homes. The strength of the housing market has aided buyers who used low-down-payment programs to buy. As a recent CNBC article points out,

“Defaults on recent low down payment loans, so far, are slow, but that is as much a factor of the good credit quality as it is the strength of the housing market. Home prices are rising incredibly fast, meaning those borrowers are gaining equity

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Why is there so much paperwork mandated by the lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and requires three separate sources to validate each and every entry on the application form.

Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

 

1. The government has set new guidelines that now demand that the bank proves beyond any doubt that you are indeed capable of paying the mortgage.

During the run-up to the housing crisis, many people

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4499 Rudetown Rd, Hardyston, NJ

Click play to watch a walkthrough video of 4499 Rudetown Rd. Hardyston, NJ. This single-family home is a golf fronting home that sits on 1 Acre of Land. With a very Private backyard that is professionally manicured grounds. Custom Built with four bedrooms is great for a vacation home or a primary residence.

The incredible High Ceiling brings in a lot of light and walks out sliders on the main level allow you to make the outside of the home come inside with a gorgeous view. Walk outside to a Trex deck and just relax around the tall trees or stroll over to the fire pit.

The Unsurpassed quality can be found in the custom built cherry cabinetry in the dining room, office and Great Room. The matching style

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