Steadily increasing home values in New Jersey, together with growing student loan debt, means that buying a home remains out of reach for many millennials. However, with interest rates still relatively low and the housing bubble well behind us, buying a home is truly a solid investment.
The good news for homeowners in New Jersey is that home prices are up 5 percent in the past year. Mortgage interest rates are still reasonable, as well. As of the time of this writing, a 15 year home loan, which is popular for homeowners looking to refinance, is being offered at around a 3.13 percent interest rate (your specific rate may vary and is subject to change). If you are a homeowner, therefore, you may be wondering if refinancing is right for you.
You may have heard people say you don't really need an attorney when buying or selling a home. I guess you really don't need a dentist if you have a toothache, or a plumber if your pipes are leaking. Nevertheless, it's probably a very good idea to have one. While no one can force you to retain an attorney for anything, an experienced real estate lawyer will surely help you avoid potential mistakes, pitfalls and complications, and can provide peace of mind for a relatively small investment, compared to the importance of a smooth purchase or sale of your home.
Ever notice how many different kinds of cereal are in the cereal aisle in your local grocery store? The real estate market is a lot like that, and your home is just one box of cereal in that appealing wall of colorful boxes. If you want to sell your home, how can you rise above the fray, make it stand out, and sell it quickly and for a good price? Here are six tips that can help:
A home is the largest purchase most people will make in their lifetime. And no one would claim that buying a home is an easy process. Negotiations, offers, counteroffers, qualification, down payments, mortgage rates, mortgage terms, and many other items are individual tiles in what turns into a rather complicated mosaic.
When buying or selling a home, it's perfectly normal to want the best deal you can get-right? Many people think that trying to go it alone-without a Realtor-is a great way to save. After all, both the Seller and Buyer feel they can save thousands of dollars by buying/selling a home without Realtor assistance. However, often times, not using the expertise and experience of a Realtor may be the classic case of being penny wise, but pound foolish. In reality, the apparent "savings" are often nullified because the seller or buyer lacks the knowledge and experience to actually negotiate and consummate the best deal for various important reasons.
Selling your home can be a time-consuming process that can quickly turn into a stressful and overwhelming experience. In many cases, you may also have to coordinate the sale and your move with the purchase of a new home, which can exponentially increase the stress. To help your transaction go as smoothly as possible, and to minimize your stress level, it is important for sellers to be as prepared as possible. Here's how to get organized:
If you are considering purchasing a home in New Jersey, it is important for you to ensure that the person selling it to you has clear title to the property. If you fail to address any title issues before you close, you may later find it difficult to sell the home, find yourself embroiled in litigation, or suffer similar undesirable outcomes. To protect yourself, it is vital that a thorough title search be conducted during the purchase process by a licensed NJ Title Insurance company, and the searches conducted are reviewed by a competent real estate attorney. If a title defect is discovered, you may have the right to cancel the transaction if the seller cannot cure the defect in a reasonable time prior to closing.
When selling your home, you can sometimes face an arduous process full of inconveniences, as you need to prepare your home and show it to potential buyers. When you receive a suitable offer, you certainly want the deal to close as quickly and seamlessly as possible to avoid losing valuable time in re-listing your house for sale.
Buying a home is an exciting process for many. However, compared to other transactions in your life, the real estate transaction process is not always a simple one. To ensure that nothing derails your dream of homeownership, there are several things that you can do before and during the process.