New Jersey Real Estate News

Americans living in rental housing spend almost a third of their incomes on housing. Rental affordability is steadily worsening, but the good news is that mortgages remain relatively affordable:

http://www.bloomberg.com/news/articles/2015-08-13/renting-in-america-has-never-been-this-expensive

Edgewater real estate - agents brokers officesA listing of recent real estate sales in Bergen County as of the week of July 20, 2015 has been published by NorthJersey.com. Some of the transactions include:

CLIFFSIDE PARK
314 Palisade Ave. Apt B5: $249,000 (closing date: 4/30/2015)
547 Gorge Rd. Apt 4b: $300,000 (closing date: 6/15/2015)
770 Anderson Ave. Apt 10e: $305,000 (closing date: 6/23/2015)
236 Day Ave.: $350,000 (closing date: 6/18/2015)
39 Cecelia Ave.: $525,000 (closing date: 6/12/2015)
100 Winston Dr. # 11a: $545,000 (closing date: 6/25/2015)
200 Winston Dr. Apt 519: $625,000 (closing date: 6/20/2015)

CLOSTER
30 Ann Arbor Place: $555,000 (closing date: 4/24/2015)

apple pieI read an entertaining article on Bloomberg.com this week, pointing out the increasing lengths that some home buyers will go to in order to win a bidding war over that new home they want. These included undisguised flattery, personal appeal letters, YouTube videos, and baked goods - including homemade pies (that's one pie at the signing, and another at the closing).

The most surreal, though, was an offer letter written in the voice of the family dog.

New York City exclusive luxury properties

According to a recent article in the Wall Street Journal, an Upper East Side townhouse that was once owned by the Vanderbilt family (16 E. 69th Street) has gone into contract to an anonymous buyer for more than $47 million. That would make it the priciest single-family home sale in New York City since the collapse of Lehman Brothers.

Realtor® Karen DeMarco in the Wall Street Journal

I was interviewed recently by the Wall Street Journal, for an article that ran in the Saturday, April 30, 2011 edition about NYC-area real estate.

Read about Bergen County towns with a view of New York City in the Wall Street Journal.

Realtor Karen DeMarco - real estate agent in New Jersey

Move east: now is a good time to buy property in Bergen County, NJ, just outside of NYC. For example, it is estimated that almost 70% of Las Vegas homes are "underwater" with their mortgages (see link to article below). Buy in North Jersey!

Bloomberg report: Wealthy leaving Las Vegas mansions

Realtor Karen DeMarco - real estate agent in New Jersey

Is it better for you to buy or rent right now? It depends on a number of factors, including how long you stay in your home. Compare the costs by using this helpful calculator.

New Jersey Supreme Court

6 of the biggest mortgage lenders claim that the New Jersey Supreme Court overstepped its bounds and violated the constitution: CLICK HERE TO READ.

Realtor Karen DeMarco - real estate agent in New Jersey

Make sure you're dealing with a reputable lender if you're considering lowering your monthly payments, adjusting your interest rate, or extending the length of your mortgage. NJ has issued violation notices against 11 companies for offering mortgage loan modification services WITHOUT being licensed. Any company performing mortgage modification services MUST be licensed by the NJ Department of Banking and Insurance.

Realtor Karen DeMarco - real estate agent in New Jersey

Tax deduction pitfalls - these 6 home deduction traps to avoid will save you time and money: CLICK HERE.

Realtor Karen DeMarco - real estate agent in New Jersey

Thinking about putting your house on the market this spring? These 5 tips might interest you.

image of strip mallAccording to Bloomberg Businessweek, U.S. commercial real estate yields are near the highest level relative to Treasury bonds on record. Now may be the time for you to invest in commercial property.

mortgage applications upNews from the National Association of Realtors: Applications for mortgages to purchase homes rose 2.5 percent last week compared to the previous week on a seasonally adjusted basis, according to the weekly survey by the Mortgage Bankers Association. On an unadjusted basis, purchase applications increased 9.3 percent from the previous week. Purchase applications were down 34.7 percent than the same week a year ago.

Here is a helpful video from the National Association of Realtors®, containing a good overview of HAFA and short sales. If you find yourself in a potential short sale situation and you need the assistance of a Realtor®, please call me at 201-776-6762.

avoiding foreclosureIf you are currently a mortgage holder and you are having difficulty making your payments, first consult your lender or loan officer to explore options other than foreclosure, such as seeking a forbearance, loan modification, refinance, or selling your home through a short sale. There are loan modification programs and refinancing options being offered through the following organizations:

 

Karen DeMarco - Realtor®
Cell: 201-776-6762 • Fax: 201-484-0434 • Send E-Mail
Sales Associate with real estate broker
Group Twenty Six LLC | Real Estate

115 River Road, Pier 103, Edgewater, NJ 07020 • 201-969-2626 

 

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