Steps To Take Before You Buy A Home

The prices of South Jersey Homes dropped and although this may look really enticing, it is not advisable to buy impulsively without thinking of the pros and cons of home buying. It is better to take small steps than jumping impulsively and regret later.

Step #1 Consult a broker

Look for a broker in your area that has spent good long years in the field. Although you can consult your real estate agent regarding possible homes that fit your requirements, a broker is more knowledgeable of houses for sale in your area.

Step #2 Get an appraisal

Getting an estimated value of the home you want to purchase will give you a better idea if the seller is asking for the right price or will give you a clue on how to negotiate and eventually get the best deal based on the appraised price. If the appraised price and the actual price of the home is similar then this is a good sign that the seller is honest enough in pricing his Baltimore MD property.

Step #3 Find out the tax assessment

Consider residential properties with low property taxes when you are looking for a home to buy. Be aware of the rise and fall of home values because if home values go up, property taxes also increase. And while price goes down, property taxes also go down. By knowing all these, you can take the chance and ask for lower appraisals which means lower property tax.

Step #4 Ask for utility bills

Home inspection is a must when you are trying to evaluate the physical condition of the home you are interested in buying. Also, ask about the utility bills of the home you are interested in buying. In this way, you will know of the home’s energy consumption and if there are any problems associated with it.

Year 2010 has been devastated with the consequences of homeowner's not being able to pay their mortgage on time which resulted in losing their homes in South Jersey which resulted to more than 100,000 homes. So before you actually get excited in buying your dream house, there are steps that you need to take in order to avoid the mistakes most home buyer’s made.

Inventory for Investors in Pre Foreclosure Homes

The real estate investor who can purchase property at under fair market value is in good position to make increased profits from the deal . Where does an investor locate excellent properties at severely discounted prices ? One niche market is pre foreclosure homes. Pre foreclosure homes are homes that the bank or lender has filed a notice of default on, but the property has yet to be sold at a public auction or trustee sale. There is a period of time between the filing and the sale when the home owner still has control of the home . To stop the foreclosure, the homeowner must bring mortgage payments to current, or he has the option to sell the property . This period of time is the ideal chance for the real estate investor to make an offer on the home . As an investor, you can increase your profits through negotiating with the seller for a deep discount off of the current market value of the home . As the buyer, you will also be able to inspect the house and learn what repairs and renovations might be needed . This inspection will also help you decide the amount you will offer on the property . There are foreclosure subscription services that will provide listings of pre foreclosure homes. The fee for the service issmall , and worthwhile in time and effort saved. The old method of researching records at the county courthouse was difficult and tedious. While getting to go through the public records is free , your time should be worth more, and the little charge for the subscription service will pay you back with your first pre foreclosure homes purchase. The foreclosure market has been a favorite for the real estate investor because of the severely reduced prices. The same deep discounts can be found on these pre foreclosure homes, with the extra advantage of being able to deal and negotiate with a highly-motivated homeowner . It’s worth taking a look at the pre foreclosure homes market.

Fannie Mae launches exclusive foreclosure deterrence plan

Fannie Mae declares unique foreclosure avoidance planfrom Government Refinancing Assistance In addition to the HAMP and HARP and HAFA foreclosure avoidance programs offered from the federal government, Fannie Mae released its own plan just lately for the numerous loans they back. We obtain this from a recent HousingWire article about the topic: Fannie Mae introduced its version of the Making Residence Affordable Foreclosure Alternatives (HAFA) program Tuesday, implementing the plan for all conventional home loans that are held in Fannie’s portfolio, which are part of an mortgage-backed security (MBS) pool with a distinctive servicing choice, or that are part of a shared-risk MBS pool for which Fannie Mae markets the acquired house.



The Fannie Mae plan takes effect August 1, this year and is created to mitigate the impact of foreclosures on borrowers that are entitled for any mortgage modification below the Residence Affordable Modification Program (HAMP) but were unsuccessful in acquiring one, Fannie said. Like the Treasury Department’s HAFA program, servicers can't think about a borrower for HAFA before borrower is examined and eliminated from eligibility for any Making Home Affordable Modification Program (HAMP) workout strategy. Also like the Treasury plan, Fannie Mae may offer servicers cash incentives for completed HAFA transactions, $2,200 for short sales and $1,200 for deed-in-lieu of foreclosure agreements. Borrowers are also entitled for $3,000 in incentives. That’s much more than within the Treasury’s HAFA program, where servicers are entitled for $1,000 and the borrower gets $1,500. Within the Treasury HAFA, the investor is also entitled for any $1,000 incentive. …


After announcing the plan in October 2009, Treasury’s HAFA plan began in April. The Fannie Mae HAFA plan is the latest in a string of programs designed to help borrowers avoid foreclosure. In addition to HAFA and HAMP workouts, Fannie Mae is letting some distressed borrowers stay in their homes as renters, under the deed for lease (D4L) plan. Below D4L, the homeowner-turned-renter is required to pay fair market rent to stay in their home for up to twelve months. The renter must have enough income to sustain a 31% income-to-rent ratio and rental payments are not subsidized by Fannie Mae, but could possibly consist of renters suitable for Section eight payments. Also, in 03 this year, Fannie Mae instructed its servicers to think about an “alternative modifications” for all mortgages that did not qualify for any permanent conversion below HAMP. That “Alt Mod” plan, which sunsets on August 31, this year, is comparable to HAFA.

Sell Your House - Advice On Getting A Quick Sale

At this moment in time the housing market is certainly favoring buyers instead of sellers. Reduced demand in the market has meant a reduction in the number of house sales and, although there has not been an increase in the number of property price reductions, there has been a decrease in the number of house price increases. As it is currently a buyers market, that means that sellers have to put a lot more effort in to sell their property; though this doesn’t mean just reducing the asking price. Although you may think that reducing the asking price of your property will help entice buyers, it is not the be-all and end-all of marketing property. There are always other options available to you that you should take advantage of if you are having trouble selling your property; some of those options are detailed below.

As with any product, you need to make your property attractive to potential buyers. What this means is that you have to make it look as much of a blank canvas to them as possible, so that the viewers can attempt to see themselves living in that space and adapting it to their own tastes, which might be far removed from yours. Any brightly painted walls should be painted over with more neutral colors and with regards to furniture, you must make the space as minimalist as possible. Also, it helps to make the outside as attractive as the inside, so make sure gardens and paths are not cluttered, and possibly plant a few flowers to help brighten the area. When choosing an estate agent to market your property you need to be quite selective. Make sure you find an agent that is not only knowledgeable, experienced and professional, but also friendly. Having an agent that you get along with will help you in the long run as you need to be in constant contact with them every step of the way. You must ensure that they are doing all that they can to market your property including making sure that all viewers of the property are mortgage pre-qualified.

The last thing you need to consider is not only competitive pricing, but also, proving your pricing judgment. Competitive pricing means researching property values in the local area; looking at recent sales of property similar to yours then asking for advice from a number of estate agents and other professionals in order to determine the market value of your property. Once you have your market value, you can then reduce that by 1% only, in order to gain increased interest in your property. Proving your market value assumptions means giving the estate agent access to receipts for building improvements and general maintenance on the property, providing information on the ratings of local public services and educational institutes and also making available data on local property prices and recent sales, all so that if the potential buyer questions your pricing ethics, your agent can then explain the details on which the market value has been established.

Related articles

• Sell you home faster - and for more (confused.com)
• 'Wait and see' in house market (lv.com)

RE/MAX CONNECTION JOINS THE RIDE TO FIGHT MS IN “CITY TO SHORE” EVENT

“It’s as easy as riding a bike.” This phrase is used all the time to describe a task that is not normally that difficult to complete.

However, instead of just riding that bike down the street or around the block, how about doing so for 150 miles over two days? Still think of that as “easy?”

Now, imagine attempting to complete that same 150 miles while suffering from multiple sclerosis, the chronic central nervous system disease that affects nearly half a million Americans. This gives you a whole new perspective on the “as easy as” analogy.

There are more than 13,000 residents of the Delaware Valley living with MS on a daily basis and, for them; the normal tasks of everyday life are anything but easy.

This is why South Jersey’s leading real estate agency – RE/MAX Connection Realtors – has joined forces with the Outdoor Club of South Jersey to compete in this September’s “MS 150 City to Shore Ride 2011.”

The annual two-day fundraiser, sponsored by the Greater Delaware Valley Chapter of the National Multiple Sclerosis Society, is being held this year on Saturday and Sunday, September 24 and 25 and runs across South Jersey from Cherry Hill to Ocean City.

“We always try to give back as much as we can to the communities we serve,” said RE/MAX Connection CEO Christopher J. Brown. “It’s important for us to live by the belief that ‘we make a living by what we get, but we make a life by what we give’.”

More than 7,000 bicyclists are expected to participate as the local chapter hopes to collect more than $5 million this year to fight the disease and help make life a little easier for those afflicted.

There are 100-mile, 75-mile, 45-mile and 25-mile routes that can be selected on each of the days and overnight accommodations are available at the shore for Saturday night the 24th. The nationally recognized event has been named the “Best Cycling Getaway in NJ” by Bicycling Magazine.

The RE/MAX Connection team has set personal goals for this September of 50 participants and $60,000 in donations. One of the team’s three co-captains, RE/MAX Connection’s Stephen Clyde, sees multiple benefits coming from the September City to Shore Ride.

“We know that riding 150 miles is nowhere near as difficult as confronting a lifetime with multiple sclerosis,” said Clyde, who works out of the RE/MAX Connection office in Marlton, “but it’s the least we can do to help support the valuable research and support programs the money we raise will provide.

“In addition to helping support a very worthwhile cause,” he continued, “it’s a great way to have fun, meet new people and get a great two-day cardio workout.”

The other two co-captains of the RE/MAX Connection Realtors team are Brenda Richmond, a fellow Realtor of Clyde’s at the agency’s Marlton office, and Barbra-Jo Swingle, a member of the Board of Trustees of the Outdoor Club of South Jersey.

There’s currently a $45 entry fee to compete in the race (it goes up to $50 on August 25th), but anyone joining the RE/MAX Connection Realtors team will pay only $20. The agency will pay the remainder of the fee. In order to compete on the day of the race, each rider must collect a minimum of $300 in donations. RE/MAX Connection team members who reach the minimum fundraising goal also will receive a free team jersey.

The two-day ride is fully supported with catered rest stops every 15 miles and, if necessary, bike support, repair and transportation. The RE/MAX Connection team expects to have a tent at both the start in Cherry Hill and the finish line in Ocean City. There also will be a pre-race team dinner on Friday, September 23 and plans are in the works for a team BBQ sometime this summer.

For more information, contact any of the three team co-captains by email: Stephen Clyde at stephen@teamclyde.com, Brenda Richmond at barichmond@aol.com or Barbra-Jo Swingle at bjswingle@gmail.com, or you can visit the official team website at http://main.nationalmssociety.org/site/TR/Bike/PAEBikeEvents?team_id=258045&pg=team&fr_id=16131.

RE/MAX Connection - Marlton is at 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053. Phone: (856) 988-1800. Fax: (856) 988-8020. RE/MAX Connection - Mantua is located at 660 Woodbury-Glassboro Road, Suite 26A, Sewell, NJ 08080. Phone: (856) 415-1210. Fax: (856) 415-1291. RE/MAX Connection – Turnersville is at 5701 Route 42, Turnersville, NJ 08012. Phone: 856-228-7990. Fax: 856-228-4433.

All three offices can be found at the www.goconnectionnj.com website.

Team Clyde's "For Your Eyes Only" Deal of the Week May 6 2011, Good Karma

The Heroic Action of SEAL Team 6 in Killing OBL brings Good Karma
Welcome to “Clyde’s Coffee Break” for May 6, 2011. Clyde’s Coffee Break is a weekly Local Real Estate Market Update brought to you by Stephen & Donna Clyde, Team Clyde of RE/MAX Connection Realtors in Marlton New Jersey.
Every Friday afternoon Clyde’s Coffee Break will bring you an update on the local real estate markets in Burlington, Camden and Gloucester Counties. Real estate markets are local, and what you are hearing or reading in the national news coverage doesn’t reflect what is happening in your county, town, development or even on your street.
So tune in every Friday afternoon, grab a good cup of coffee take a quick break and find out what is happening in the real estate market here in South Jersey.