Does the term “amortization” leave you perplexed? Are you unsure how preapproval differs from prequalification? If so, you’re not alone. Here are some mortgage basics to help you become more familiar with the process. What’s the difference between prequalification and preapproval? Getting prequalified is often the first step when searching for a home. You supply […]
Spring has sprung, which means the housing market is in full bloom. Each year, roughly 40 percent of real estate transactions occur between the months of May and August. If you’re feeling inspired to buy or sell a home soon, make sure you’re prepared. Use these checklists to catch anything you may have missed. When […]
Recently, my husband relayed a conversation he overheard at the office where someone was saying that home ownership is not a smart or important investment anymore. Since I have also heard these sort of rumblings lately, I feel compelled to write about it. The idea I have heard debated is that houses will never appreciate […]
The term ‘specialist’ is defined as “A person who concentrates primarily on a particular subject or activity; a person highly skilled in a specific and restricted field.” We already know that a Realtor is a specialist in the field of real estate. However, what makes someone a neighborhood specialist? A neighborhood specialist is someone who […]
Recently, the REALTOR University Research Center sponsored a study that concluded now is the time to become a homeowner. Researchers from different universities conducted the study. The study looked at what they call the indifferent renter –someone who in principle has no preference to own or rent for any reason other than to build wealth. […]
A common dilemma faced by many homebuyers is choosing between purchasing a newer home, maybe 10-20 years old or younger, and an older one. Many buyers have their minds set on a newer home in order to avoid major expenses that are typical with older homes. Some of the anticipated expenses of older homes include […]
We all see the signs on the side of the road, sometimes sporting balloons, announcing an Open House nearby. Whether you are looking to buy a house or not, it is a great idea to stop by. There are many reasons why people come to open houses, but typically, they can be broken down into […]
Once you think interest rates on mortgages have dropped as low as they can, think again! This week, Freddie Mac announced that the average rate on a 30-year fixed mortgage dropped to an all-time low of 3.89 percent. This breaks the previous record of 3.91 percent that was set only three weeks ago! Opportunities for […]
Did you know that Somerset and Hunterdon Counties dominated New Jersey Monthly’s list of “Best Places to Live” in 2011? Of course, we already know how great our area is, but this confirms that it’s not a secret! Each year, New Jersey Monthly ranks a list of over 500 municipalities in New Jersey. It bases […]
This old real estate adage is still relevant in this uncertain, confusing housing market and in fact is the number one rule of selling real estate. It suggests that identical homes can differ in value due to their location. If you are a homeowner preparing to sell, you clearly cannot change the location of your […]