Archive for General Real Estate
Great News for Atlantic City – Revel Soon to Sign Financing Deal
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- Revel Casino Rendering
Sources very close to the Atlantic City casino, REVEL, say they expect to sign a financing deal on or around February 15. This is GREAT news for Atlantic City and the immediate area.
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→
Looking Back at 2010 – Have We Reached the Bottom and Are We On Our Way Back Up?
Posted by: | CommentsEvery year I compile real estate statistics for the Downbeach area (Ventnor, Margate, Longport) & Atlantic City, and compare them to the previous year.1 So let’s take a look at the 2010 real estate numbers2 and see if the market was really as bad as most people are complaining it is. I was quite surprised with what I found based on all the negative noise about the market. Read More→
Current Mortgage News 1/13/11
Posted by: | CommentsCurrent Mortgage News 1/13/11
Rates hit 4.25% for a 30 year fixed rate loan with zero points a few weeks back and then went up to 5.25% and finally settled back to around 4.75% toward the end of last week. The moral of the story is, don’t be greedy. Rates 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. Read More→
Eleven Reasons Why South Jersey Residents can be Optimistic about 2011
Posted by: | CommentsPosted: Friday, December 31, 2010 8:15 pm | Updated: 9:52 am, Mon Jan 3, 2011 at www.PressofAtlanticCity.com
By ELAINE ROSE, Staff Writer pressofAtlanticCity.com
After a stagnant year of recession woes and delayed projects, 2011 has the makings of a comeback year for South Jersey.
Everything from pending legislation that may create a state-run tourism district in Atlantic City to the renovation and reopening of Millville’s landmark Levoy Theatre to the expansion of The Walk retail outlets in Atlantic City gives area residents, business owners and government officials reason to believe 2011 will be a vast improvement over 2010. 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→
Are Interest Rates going Up or Down?
Posted by: | CommentsThe Fed has made it clear that its intention is to continue to keeps rates low. The Fed has various tools to do so, but the most common is to simply buy large quantities of mortgage backed securities. More demand will increase the cost of bonds. Higher bond prices mean lower rates.
The Federal Reserve recently announced that it will launch a program to buy up to $600 billion in mortgage-backed securities and GSE direct obligations to help buoy the flagging mortgage market. The bond market generally reacts inversely to that of the stock market.
Once the economy starts to pick up steam watch for rates to rise. One of the Fed’s primary goals is to keep inflation in check. Its primary tool for doing so is to increase interest rates.
To reach Gary Freedman please e-mail him at gary.freedman@tridentmortgage.com or via phone 609-487-7202.
The opinions and views expressed here are solely those of Gary Freedman and do not represent those of Trident Mortgage or any of its affiliates, officers, members or employees. Gary Freedman is not a CPA, Attorney or Financial Advisor. The information provided is deemed to be generally accurate but should not be relied upon to make any decisions. You should consult your CPA, Attorney or Financial Advisor before acting on any of the information provided herein.
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→
Who says the real estate market is Bad?
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Every year I compile real estate statistics for the Downbeach area (Ventnor, Margate, Longport) & Atlantic City, and compare them to the previous year.1 I recently ran the 2010 real estate numbers in anticipation for the end of the year,2 anxious to see if the market was really as bad as most people are complaining it is. I was quite surprised with what I found based on all the negative noise about the market.
I compile my reports in two ways. The first report takes all sales in a specific town/city and lumps them into one number for average sales price3, median sales price4 and number of units sold. This is a big picture, broad look at the market. The second report breaks down the sales into much more defined categories for the different geographic areas such as 1, 2, 3 etc. bedroom condos, 1, 2, 3 etc. bedroom single family homes, commercial, and land. It is a much more in depth, detailed look at how a specific type of property sold in a specified time frame. Read More→
Top 10 tips for Savvy Sellers
Posted by: | CommentsSelling your home quickly at the best price isn’t difficult if you pay attention to the following essential tips:
- Hire a real estate professional with experience. I’ve been around for a while and know what your local real estate market is doing. I have the experience and expertise to market your home to get it sold for the best possible price.
- Don’t chase the market. Sales prices from two months ago, even two weeks ago, are history. What buyers are willing to pay for homes today is based on today’s factors alone. Read More→
