16 Feb 2011

FHA Loans Will Cost More After April 18, 2011 The FHA Mortgage Insurance Premium (MIP) will increase 25 Basis Points Just the other day, FHA Commissioner David H Stevens announced changes for FHA Mortgage Loans. These changes are for any FHA loans that are assigned case numbers on or after April 18, 2011. Instead of paying the current rate of .9 % of the loan amount, and then dividing t...

14 Feb 2011

Pre Closing Inspection
A Pre Closing Inspection For a Home Purchase Should Not Be a Quick Walk Through! The buyer takes s and assumes ownership of the home at the closing. The pre closing inspection is the opportunity for the buyer to inspect the home being purchased prior to closing and owning the home!  It is a provision provided in real estate contracts with language such as: The Seller agrees to permit th...

11 Feb 2011

Let's Talk About Mortgage Interest Rates Again! Mortgage Interest Rates Well, interest rates increased to over 5% in December, 2010. Then they retreated to a little under 5% in January, 2011. Now, they are moving back up above 5% again. Refresh your memory with a review from my January 10th post. First of all, mortgage rates at 5% are near historic lows. And yes, they may retreat again ...

27 Jan 2011

Wondering what has happened in real estate in 2010? Did real estate sales transactions increase in 2010? Did real estate values increase, drop or level off in 2010? The answer is yes and no to both questions. Whether you are looking to buy, are interested in selling or are just curious about the real estate market, real estate is local! Real estate sales activity and real estate values ...

19 Jan 2011

As discussed in a previous post, How the Closing Date Affects Closing Costs for Home Buyers(pro-rated interest adjustments), there are other considerations in addition to the costs associated with the closing date of a real estate purchase when planning the closing date. Yes, convenience is important! Working around a work schedule or vacation time is important. Coordinating a current l...

14 Jan 2011

 Understanding How the Actual Closing Date on a Home Purchase Can Affect a Buyer's Closing Costs! Yes, there is an often overlooked cost related to the mortgage in closing on a home purchase! And that is the interest rate adjustment from the day of the closing to the last day of the month. Let me clarify first. There is a difference in paying rent to a landlord as compared to paying the ...

10 Jan 2011

Interest rates have been surprisingly low for such a long time, no one really thought they would go up. Well, they did, and everyone was caught off guard. In fact, at the end of December, mortgage interest rates increased to 5%. and slighly higher. A surprise to most people involved with real estate! The Good News is that they have dropped back down to 4.75% in the past week. However, ...

19 Dec 2010

[caption id="attachment_939" align="aligncenter" width="345" caption="Middlesex County Sales Statistics YTD November, 2010"][/caption] Whether you are interested in buying a home or thinking of selling a home, knowing what it is happening in the real estate market should be important. Whether you are looking in Iselin or Colonia, in Edison or Metuchen or any other town in Middlesex Coun...

16 Oct 2010

                   Are there more closed sale transactions in Middlesex County through September, 2010 as compared to last year? Have average sale prices increased in Middlesex County through September, 2010 as compared to last year? Whether you live in or are interested in purchasing or selling a home in Iselin, New Jersey or Colonia, or any other town in Middlesex County, you can view ...

26 Sep 2010

Are there more closed sale transactions in Middlesex County through August, 2010 as compared to last year? Have average sale prices increased in Middlesex County through August, 2010 as compared to last year? Take a look at Middlesex County statistics! View the Residential Comparison Report and Condo/Townhouse Comparison Report though August, 2010. Interested in more real estate statis...