Archive for Before You Purchase
“Your Home Inspector Should Have Caught That”
Posted by: | CommentsHome inspectors, like most humans, are not perfect. So, sooner or later a home inspector will get a call from a past client that they found something in their newly purchased home that was not noted as a defect in the home inspection report. More often than not, the issue was likely something that was hidden to the inspector by the former owner’s bookcase or carpet, and was revealed when the object was eventually moved, or a problem that developed after the inspection, like a water leak after a heavy rainstorm. In all cases, whether the inspector missed something or the item was undetectable to the inspector, the inspector should be consulted before the repair if possible, to give him/her an opportunity to determine if a real defect exists, if it cosmetic or material, and whether it was hidden or latent. Read More→
Rates are still Low!!
Posted by: | CommentsRates are at all time lows. If you are waiting for rates to go lower you are likely going to miss the boat. It is just a matter of time before rates rise again.
They still continue to be in the 4.75% range, at least for now.
The bond market continues to be very volatile. Read More→
WHAT TO EXPECT, AND NOT EXPECT, FROM A HOME INSPECTION
Posted by: | Comments(Note: This article pertains to home inspections in New Jersey, but is nonetheless applicable to other jurisdictions.)
Home buyers have a lot to think about when shopping for a new home. Questions like, “Is this the best deal?”, or, “Can I afford it?”, or, “Will I be happy owning this home?” are common. Once an agreement of sale is signed, hopefully these questions have been answered, but then there are likely a new set of questions, like “Will my mortgage be approved?” Or, “Is the home I am buying in good condition?” A professional home inspection is intended to be the means by which a home buyer can gain a measure of additional comfort in answering this last question.
While most buyers know that a home inspection is part of the “due diligence” process of a home purchase, many buyers don’t fully understand what a home inspection involves. The assumption may be, incorrectly, that a home inspection will uncover any and all issues that would make a home less-than-perfect. This assumption can provide buyers a false sense of security, and provide unrealistic expectations as to conditions. The intent of this article is to provide some answers, help guide your expectations and educate you in what you should expect from a home inspection. Read More→
First time or Second Home Buyers have the Opportunity of a Lifetime.
Posted by: | CommentsToday’s first-time or second home buyers are presented with the opportunity of a lifetime. Mortgage rates in early December stood near lows last seen during the Truman administration while home prices were well off their peaks of previous years. The combination made housing affordability, as measured by the National Association of REALTORS®, the highest since NAR® launched its Affordability Index in 1973. Read More→
New Jersey Association of Realtors Comments on DEP’s Coastal Zone Rules
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| On January 3, 2007, NJAR submitted comments to the New Jersey Department of Environmental Protection (DEP) concerning the DEP proposal to amend the Coastal Permit Program and Coastal Zone Management rules. The proposal seeks to expand public access to tidal waterways and their shores through private property takings. NJAR’s comments address the legal issues in the proposal and seek to protect the private property rights of landowners in shore areas.
Click here to view the proposal.
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Condo Buyers – Why You Need an Inspection
Posted by: | Commentsby Zack Lilienfeld, PE, CEM – AtlantiCape Inspections, LLC
As a home inspector who works mainly along coastal Southern New Jersey where condominiums are abundant, I often have occasion to speak with buyers who are anguishing over whether they need an inspection or not. Just like buyers who are purchasing a newly built home, condominium purchasers often feel that its not necessary to get a home inspection. The main reason for condos is that new buyers often believe that anything wrong with the unit is the responsibility of someone else – namely the condo association. Well, do I have some stroies for them! Read More→
Buried Oil Tanks – What Buyers Need to Know
Posted by: | Commentsby I.G. “Zack” Lilienfeld, PE, CEM
NJ Home Inspector License No.: 24GI00050500
As a home buyer, performing “due diligence” is a must these days. While its beneficial to rely on your real estate agent and home inspector for information, it still pays to do your homework. This is especially true of the issue of underground residential fuel oil storage tanks (USTs).
In South Jersey, and especially in the coastal communities, the hot-button issue now is USTs. Many, many deals are delayed or canceled because of fuel oil environmental issues, real or imagined. So, what can you do to minimize your chance of purchasing a home with a potential environmental (and financial) liability? Here is my perspective as a home inspector who is encountering USTs routinely during my inspections in coastal New Jersey. Read More→
Pier at Caesars to debut
Posted by: | CommentsThe project is among $1.4 billion in new Atlantic City projects
Inquirer Staff Writer
ATLANTIC CITY – This booming gambling town is about to get a close look at its latest multimillion-dollar project.
The $200 million Pier at Caesars, an upscale shopping, dining and entertainment complex, opens next week at the heart of the Boardwalk. The developer, Gordon Group Holdings L.L.C., offered a preview yesterday to the media.
It is enough to give Scott Gordon the jitters. “You go through all of these emotions,” said Gordon, president of Gordon Group, which has been working on the project for the last four years. “Most of all, we’re excited to have customers start coming through those doors.”
For Atlantic City, there is more to come. From 2002 to 2005, the resort town captured about $3 billion in new capital investment. Over the next year and a half, $1.4 billion in new projects are planned. In the coming years, billions more will be invested, by Morgan Stanley and MGM Mirage.
The Pier at Caesars will resemble a luxury cruise ship framed by 70,000 square feet of neon signs and graphics created by New York’s Clear Channel Spectacolor.
The four-story Pier has 500,000 square feet, of which 320,000 square feet is being leased to 105 tenants. Ninety of those tenants will be retail and fashion boutiques. Retailers such as Betsey Johnson, Stuart Weitzman, BCBG and Coach are scheduled to open next week, with the other stores to open throughout the summer and fall. Read More→
