Down Payment Tips

By Patric Santo Pietro Prudential New Jersey Properties Many people dream of owning a home but don't think it's possible because they lack the resources for a down payment and closing costs. Here are tips for securing that down payment. 1) Borrow from your retirement account: Many people have been investing in a 401(k) plan or traditional IRA for years and first-time homebuyers may borrow up to $10,000 for their down payment without incurring a penalty. For those self-employed or if your … [Read more...]

What You Must Know About Home Appraisals

By: G. M. Filisko Understanding how appraisals work will help you achieve a quick and profitable refinance or sale. 1. An appraisal isn’t an exact science When appraisers evaluate a home’s value, they’re giving their best opinion based on how the home’s features stack up against those of similar homes recently sold nearby. One appraiser may factor in a recent sale, but another may consider that sale too long ago, or the home too different, or too far away to be a fair comparison. The … [Read more...]

The Truth About Radon Gas

By Patric Santo Pietro Prudential NJ Properties There’s a scene in “The Princess Bride” where the villainous Vizzini offers his adversary an invisible, odorless and tasteless poison. While his description is meant to conjure laughs, he could have just as easily been talking about radon gas. You can’t see, smell or taste radon, yet exposure to the gas can make you sick. In fact, the Surgeon General has warned that radon is the second-leading cause of lung cancer in the United States today … [Read more...]

Top Dos and Don’ts During the Mortgage Process

In the market for a new home? Here are some tips for what you should and shouldn't do during the mortgage process courtesy of Frank Approvato of Home Capital Network. DON’T APPLY FOR NEW CREDIT OF ANY KIND. Including those "You have been pre-approved” credit card invitations that you receive in the mail. Every time that you have your credit pulled by a potential creditor or lender, you lose points from your credit score immediately. Depending on the elements in your current credit report, you … [Read more...]

Santo Pietro Earns NAR Short Sales and Foreclosure Certification

Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales Metuchen, NJ (January 16, 2012) — Patric Santo Pietro, with Prudential New Jersey Properties, has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows. According to a … [Read more...]

How to Avoid Major Mortgage Mistakes When Purchasing a Home

Thinking of purchasing a home in the near future? Make sure that your transaction goes as smoothly as possible by keeping all your mortgage issues in order. Home purchases fall through all the time because of financing issues so avoid these mistakes to ensure that your purchase is a successful one. 1. Not checking your credit Do this several months before you apply so you can make the necessary adjustments. 2. Applying for new credit alongside the mortgage Whenever you apply for new … [Read more...]

Distressed Properties: Consider a 203k Mortgage

Real estate consumers today can find ample value in distressed homes – properties that are under a foreclosure order or up for short sale. In many cases, however, “distressed” speaks more for the condition of the homes than their recent financial histories, as they’ve sat empty for extended periods and have been subject to vandalism and theft. Those considering homes in need of repair and renovation should consider a 203k mortgage, which enables homebuyers to finance both the acquisition and … [Read more...]

Nationwide Open House Weekend is June 4-5

Join Prudential New Jersey Properties as we celebrate Nationwide Open House Weekend on June 4-5, 2011. The event, held by the National Association of Realtors, will give prospective home buyers the chance to view a number of homes on the market all in one weekend. Who: YOU! What: Nationwide Open House Weekend Where: Open homes throughout the Garden State & the country! When: Saturday, June 4th and Sunday, June 5th, 2011 Why: To find your new dream home or to sell your existing home … [Read more...]

How Does Shopping for a Mortgage Affect Your Credit Score?

Ever wondered how shopping for a mortgage affects your credit score? Most people are aware that too many checks on your credit score can negatively affect your credit score. So what happens when you want to get the best rate on your mortgage? Will running your credit with multiple lenders actually hurt your chances of getting a mortgage? Apparently not according to Dan Green on his The Mortgage Reports blog. The credit bureaus view credit checks for mortgages differently than those for credit … [Read more...]

Close to 14,000 Houses Sold Yesterday

Taken from the Keeping Current Matters Blog: One of the biggest misconceptions in today’s housing market is that homes are not selling. That is simply not true. Last month’s Existing Sales Report from the National Association of Realtors (NAR) showed that homes were selling at an “annual rate of 5.10 million”. That’s an average of 13,973 every day – 365 days a year! And the monthly Pending Sales Report, which measures the number of houses going into contract each month, has showed … [Read more...]