Case-Schiller is reporting today that home prices rose 0.88% in November over the previous month. Year-over-year, prices were up 13.71%. These results are based on Case-Schiller’s 20-city index. In addition, mortgage applications were up in recent weeks. Read more at Business Insider
The Market Update published by the New Jersey MLS (NJMLS) for December, 2013 shows the number of single family homes on the market is down 20% from a year earlier. The area covered by NJMLS includes Bergen, Essex, Hudson and Passaic Counties. Inventory of condos and townhouses is down even more at -27%. Other telling statistics … Continued
A home is the most expensive thing you’ll probably ever purchase. Choose your home inspector carefully. Recently I spoke with Mark Cafiero from Pinnacle Inspection Services about what to look for when you’re choosing your home inspector. Once you’re in attorney review, you’ll want to speak with two or three inspectors to help you make … Continued
All closings week of 12/29 Real estate closings last week in all boroughs, cities and villages of Bergen County. For a demographic profile and school info, click on the municipality’s name. For previous sales, see Sales Archive. ADDRESS STYLE BEDS BATHS PRICE LISTED BY SOLD BY Bergenfield 75 HARRIET AVE COL 6 4 $888,000 PROMINENT … Continued
2013 was a good year! NJMLS year-end statistics for 2013 vs. 2012 show very positive numbers: Entire NJMLS (all categories, all areas): Solds +20.8% Median Sale Price +5.5% Under Contracts +15.8% Actives -13.4% Days On Market -12.1% Single Family Homes (all areas): Solds +19.7% Median Sale Price +5.3% Under Contracts +16.1% Actives -17.4% Days On Market … Continued
Over the last year or so I’ve been writing regularly about the strong real estate market here in northern New Jersey. Working with home buyers on a daily basis, I’ve talked to more than a few people who aren’t necessarily convinced. I can understand if buyers take my information with a grain of salt, as … Continued
Ridgewood, NJ rang in the new year with just 34 single family homes on the market. That’s down from 65 on the market on January 1, 2013. To put that number in perspective, 315 single family homes sold in Ridgewood in the entire year in 2013. So 34 homes on the market is not many. … Continued
1. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income. 2. Develop a wish list of what you’d like your home to have. Then prioritize the features on your list. 3. Select three or four neighborhoods you’d like to live in. … Continued
Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent … Continued
Credit scores, along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms you’ll be able to qualify for. Here are a few ways to improve your credit to buy a Bergen County home. 1. Check for and correct errors in your credit report. … Continued
