Despite a slow market and a slight decrease in the resale value of most remodeling projects, REALTORS® report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by REALTORS® who completed a recent survey.
On a national level, eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000. Certain types of door and siding replacements, as well as wood deck additions all returned more than 80 percent of project costs upon resale. A steel entry door replacement – a new addition to this year’s list – recouped 128.9 percent of costs, followed by upscale fiber-cement sliding replacements at 83.6 percent. Wood deck additions recouped 80.6 percent of costs.
“Once again, this year’s Remodeling Cost vs. Value Report highlights the importance of a home’s first impression,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “With exterior projects returning a high percent of project costs upon resale, Realtors® can help give your home curb appeal while adding value to the real estate transaction.
The 2009 Remodeling Cost vs. Value Report compares construction costs with resale values for 33 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the twelfth consecutive year that the report, which is produced by Hanley Wood, LLC, was completed in cooperation with REALTOR® Magazine, as REALTORS® provided their insight into local markets and buyer home preferences within those markets.
On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1 percent of remodeling costs compared to 73.8 percent in 2008. The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3 percent costs recouped.
Other exterior projects in the top 10 include midrange vinyl and upscale foam-backed vinyl sliding replacements, which returned more than 79 percent of costs. In addition, several types of window replacements – midrange wood, midrange vinyl, and upscale vinyl – all returned more than 76 percent of costs upon sale.
Similar to last year’s report, the least profitable remodeling projects in terms of resale value were home office remodels and sunroom additions, returning only 48.1 percent and 50.7 percent of project costs.
Regionally, cities in the Pacific states of Alaska, California, Hawaii, Oregon and Washington once again outperformed the rest of the nation in terms of remodeling costs recouped upon resale. The West South Central region of Arkansas, Louisiana, Oklahoma, and Texas; the East South Central region of Alabama, Kentucky, Mississippi and Tennessee; and the South Atlantic region of the District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and West Virginia also performed relatively well.
The regions that generally returned the lowest percentage of costs were New England (Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont), East North Central (Illinois, Indiana, Michigan, Ohio and Wisconsin), West North Central (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota), and the Middle Atlantic (New York and Pennsylvania).
Golder commented that remodeling projects are just one of many factors that contribute to a home’s overall resale value. “As the first, best source for real estate information, REALTORS® are experts in providing insight into what projects and investments will make a difference in your house. It’s important to consult with a REALTOR® who can explain the variety of factors that affect a home’s value, such as location, condition of surrounding properties and the regional economic climate,” she said.
Results of the report are summarized in the January issue of REALTOR® Magazine. To read the full project descriptions, access national and regional project data, and download a free PDF containing data for any of the 80 cities covered by the report, visit www.costvsvalue.com. “Cost vs. Value” is a registered trademark of Hanley Wood, LLC.
Source: NAR
Thursday, December 24, 2009
Tuesday, December 22, 2009
Another Big Gain in Existing-Home Sales
Existing-home sales rose again in November as first-time buyers rushed to close sales before the original Nov. 30 deadline for the recently extended and expanded tax credit, according to the NATIONAL ASSOCIATION OF REALTORS®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October, and are 44.1 percent higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.
Lawrence Yun, NAR chief economist, said the rise was expected. “This clearly is a rush of first-time buyers not wanting to miss out on the tax credit, but there are many more potential buyers who can enter the market in the months ahead,” he said. “We expect a temporary sales drop while buying activity ramps up for another surge in the spring when buyers take advantage of the expanded tax credit, which hopefully will take us into a self-sustaining market in the second half of 2010. In all, 4.4 million households are expected to claim the tax credit before it expires and balance should be restored to the housing sector with inventories continuing to decline.”
Conditions Optimal for Buyers
An NAR practitioner survey shows first-time buyers purchased 51 percent of homes in November, compared with an upwardly revised 50 percent of transactions in October. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 4.88 percent in November from 4.95 percent in October; the rate was 6.09 percent in November 2008. Last month’s mortgage interest rate was the second lowest on record after bottoming at 4.81 percent in April 2009.
NAR President Vicki Cox Golder said conditions are optimal for buyers in the current market. “Inventories have steadily declined and are closer to balanced levels, which indicate home prices in many areas are either stabilizing or could soon stabilize and return to normal appreciation patterns,” she said. “This means buyers still have good choices but are purchasing near the bottom of the price cycle with historically low mortgage interest rates. Throw a tax credit on top and it really doesn’t get any better for buyers with secure jobs and long-term ownership plans.”
Inventories Fall
Total housing inventory at the end of November declined 1.3 percent to 3.52 million existing homes available for sale, which represents a 6.5-month supply at the current sales pace, down from an 7.0-month supply in October. Raw unsold inventory figures are 15.5 percent below a year ago. The last time there was a lower supply of homes on the market was April 2006, when it was at a 6.1-month supply.
“Nearly all markets experienced a solid sales gain from one year ago,” Yun said. “The only markets with measurably lower sales were in San Diego, Riverside, and Sacramento (Calif.), where inventory shortages for lower-priced homes are limiting sales.”
Sales Rise Across the Board
For the second month in a row, sales have risen in all price classes from a year earlier. Prior to October, the only consistent gains were in the lower price ranges. The national median existing-home price for all housing types was $172,600 in November, which is 4.3 percent below November 2008. Distressed properties, which accounted for 33 percent of sales in November, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes in the same area.
Single-Family Homes
Single-family home sales jumped 8.5 percent to a seasonally adjusted annual rate of 5.77 million in November from a level of 5.32 million in October, and are 42.1 percent above the pace of 4.06 million in November 2008. The median existing single-family home price was $171,900 in November, down 4.4 percent from a year ago.
Condos
Existing condominium and co-op sales in November were unchanged from a seasonally adjusted annual rate of 770,000 in October, but are 60.1 percent above the 481,000-unit pace a year ago. The median existing condo price was $178,000 in November, which is 3.1 percent below November 2008.
By Region
Sales in the Northeast rose 6.6 percent to an annual level of 1.13 million in November, and are 52.7 percent higher than November 2008. The median price in the Northeast was $223,400, down 13.1 percent from a year ago.
Existing-home sales in the Midwest increased 8.4 percent in November to a pace of 1.55 million and are 53.5 percent above a year ago. The median price in the Midwest was $140,800, a decline of 0.4 percent from November 2008.
In the South, existing-home sales rose 4.8 percent to an annual level of 2.39 million in November and are 44.8 percent higher than a year ago. The median price in the South was $151,400, down 1.4 percent from November 2008.
Existing-home sales in the West increased 10.6 percent to an annual rate of 1.46 million in November and are 28.1 percent above November 2008. The median price in the West was $231,100, which is 4.1 percent below a year ago.
Source: NAR
Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October, and are 44.1 percent higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.
Lawrence Yun, NAR chief economist, said the rise was expected. “This clearly is a rush of first-time buyers not wanting to miss out on the tax credit, but there are many more potential buyers who can enter the market in the months ahead,” he said. “We expect a temporary sales drop while buying activity ramps up for another surge in the spring when buyers take advantage of the expanded tax credit, which hopefully will take us into a self-sustaining market in the second half of 2010. In all, 4.4 million households are expected to claim the tax credit before it expires and balance should be restored to the housing sector with inventories continuing to decline.”
Conditions Optimal for Buyers
An NAR practitioner survey shows first-time buyers purchased 51 percent of homes in November, compared with an upwardly revised 50 percent of transactions in October. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 4.88 percent in November from 4.95 percent in October; the rate was 6.09 percent in November 2008. Last month’s mortgage interest rate was the second lowest on record after bottoming at 4.81 percent in April 2009.
NAR President Vicki Cox Golder said conditions are optimal for buyers in the current market. “Inventories have steadily declined and are closer to balanced levels, which indicate home prices in many areas are either stabilizing or could soon stabilize and return to normal appreciation patterns,” she said. “This means buyers still have good choices but are purchasing near the bottom of the price cycle with historically low mortgage interest rates. Throw a tax credit on top and it really doesn’t get any better for buyers with secure jobs and long-term ownership plans.”
Inventories Fall
Total housing inventory at the end of November declined 1.3 percent to 3.52 million existing homes available for sale, which represents a 6.5-month supply at the current sales pace, down from an 7.0-month supply in October. Raw unsold inventory figures are 15.5 percent below a year ago. The last time there was a lower supply of homes on the market was April 2006, when it was at a 6.1-month supply.
“Nearly all markets experienced a solid sales gain from one year ago,” Yun said. “The only markets with measurably lower sales were in San Diego, Riverside, and Sacramento (Calif.), where inventory shortages for lower-priced homes are limiting sales.”
Sales Rise Across the Board
For the second month in a row, sales have risen in all price classes from a year earlier. Prior to October, the only consistent gains were in the lower price ranges. The national median existing-home price for all housing types was $172,600 in November, which is 4.3 percent below November 2008. Distressed properties, which accounted for 33 percent of sales in November, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes in the same area.
Single-Family Homes
Single-family home sales jumped 8.5 percent to a seasonally adjusted annual rate of 5.77 million in November from a level of 5.32 million in October, and are 42.1 percent above the pace of 4.06 million in November 2008. The median existing single-family home price was $171,900 in November, down 4.4 percent from a year ago.
Condos
Existing condominium and co-op sales in November were unchanged from a seasonally adjusted annual rate of 770,000 in October, but are 60.1 percent above the 481,000-unit pace a year ago. The median existing condo price was $178,000 in November, which is 3.1 percent below November 2008.
By Region
Sales in the Northeast rose 6.6 percent to an annual level of 1.13 million in November, and are 52.7 percent higher than November 2008. The median price in the Northeast was $223,400, down 13.1 percent from a year ago.
Existing-home sales in the Midwest increased 8.4 percent in November to a pace of 1.55 million and are 53.5 percent above a year ago. The median price in the Midwest was $140,800, a decline of 0.4 percent from November 2008.
In the South, existing-home sales rose 4.8 percent to an annual level of 2.39 million in November and are 44.8 percent higher than a year ago. The median price in the South was $151,400, down 1.4 percent from November 2008.
Existing-home sales in the West increased 10.6 percent to an annual rate of 1.46 million in November and are 28.1 percent above November 2008. The median price in the West was $231,100, which is 4.1 percent below a year ago.
Source: NAR
Tuesday, November 17, 2009
November - Energy Savings Tips for the Colder Months
November is a great month - the holidays are fast approaching, we get to visit more often with family and friends, and colder weather makes us feel like getting cozy in our homes. Since you'll want to keep warm in the coming months, I'm including a list of tips for you this month that will help you to save money on your energy bill, while still staying warm and cozy!
I hope these tips help you as much as they've helped me. If you have any home or real estate questions, please feel free to call me at (201) 970-6857 any time or visit my website (www.BryanLima.com).
FIVE WAYS TO SAVE ENERGY IN THE COLDER MONTHS
1. Set the timer: Program your thermostat to reach lower temperatures while you're sleeping or out of the house. This simple action can save you a lot of money - and will ensure that your house stays at a comfortable temperature at all times.
2. Open and shut: During daytime hours, keep your blinds, draperies and other window coverings open. This will enable your home to absorb the warm afternoon sunshine and will effectively add heat to the entire house. Close all window coverings at night to keep the heat in!
3. Installation time: If you have a window or two that feels drafty no matter what you do, consider installing tight, insulating shades to those particular windows. You'll be surprised what a little bit of extra insulation can accomplish!
4. Light a fire: A fireplace is an easy solution to add extra heat to your home without adding to your energy bill. Capable of warming the entire room, you and your family can relax at home while keeping the thermostat at a lower temperature.
5. No leaks allowed: Check doors and windows for drafts and places where air might escape. Weatherizing windows and doors is a simple task that you can perform; your local home improvement warehouse will have all of the materials you need!
I hope these tips help you as much as they've helped me. If you have any home or real estate questions, please feel free to call me at (201) 970-6857 any time or visit my website (www.BryanLima.com).
FIVE WAYS TO SAVE ENERGY IN THE COLDER MONTHS
1. Set the timer: Program your thermostat to reach lower temperatures while you're sleeping or out of the house. This simple action can save you a lot of money - and will ensure that your house stays at a comfortable temperature at all times.
2. Open and shut: During daytime hours, keep your blinds, draperies and other window coverings open. This will enable your home to absorb the warm afternoon sunshine and will effectively add heat to the entire house. Close all window coverings at night to keep the heat in!
3. Installation time: If you have a window or two that feels drafty no matter what you do, consider installing tight, insulating shades to those particular windows. You'll be surprised what a little bit of extra insulation can accomplish!
4. Light a fire: A fireplace is an easy solution to add extra heat to your home without adding to your energy bill. Capable of warming the entire room, you and your family can relax at home while keeping the thermostat at a lower temperature.
5. No leaks allowed: Check doors and windows for drafts and places where air might escape. Weatherizing windows and doors is a simple task that you can perform; your local home improvement warehouse will have all of the materials you need!
Monday, November 9, 2009
New Rules to Clarify Fees
New regulations from the Department of Housing and Urban Development will require that closing costs be spelled out on a revised and consumer-friendly version of the good-faith estimate form that borrowers are supposed to receive within three days of applying for a mortgage. These rules will take effect Jan. 1, 2010.
Fees are divided into three categories:
Source: The Washington Post Writers Group, Kenneth R. Harney (11/06/2009)
Fees are divided into three categories:
- Fees that cannot increase from upfront estimates to closing, including lender or broker's mortgage origination, processing, and underwriting charges, as well as lender or broker’s “points” based on the interest rate quoted and local transfer taxes.
- Fees that can increase as much as 10 percent from upfront estimates, including services such as appraisals, title insurance, and recording fees from local governments.
- Fees that can increase without limit because the amount is difficult to predict in advance, including home owners insurance, daily interest charges on the loan, and initial deposits by the borrower into an escrow account.
Source: The Washington Post Writers Group, Kenneth R. Harney (11/06/2009)
Friday, November 6, 2009
Home Buyer Tax Credit Extended and Expanded
Today it was made official by Obama as he approved the extension and expansion of the homebuyer's tax credit. For first-time homebuyers, the credit of up to $8,000 has been extended through April 30, 2010. In order to qualify, you must have a written contract in place by April 30th, 2010 and close the transaction before July 1, 2010. In addition, the income limits for first-time homebuyers was increased to $125,000 for a single person and $225,000 for a married couple. Individuals earning up to $145,000 and married couples earning up to $245,000 will be eligible for a partial credit.
The program was also expanded to buyers who are current home owners and have lived in their home for five of the past eight years. However, these buyers will only receive a $6,500 tax credit.
For a fact sheet on the above program, click here.
If you have any other questions about the Home Buyer Tax Credit, feel free to contact me anytime. Or if you know anyone that may need the services of a Realtor, I always welcome and appreciate referrals.
Visit www.BryanLima.com today for information on buying and selling real estate in New Jersey.
The program was also expanded to buyers who are current home owners and have lived in their home for five of the past eight years. However, these buyers will only receive a $6,500 tax credit.
For a fact sheet on the above program, click here.
If you have any other questions about the Home Buyer Tax Credit, feel free to contact me anytime. Or if you know anyone that may need the services of a Realtor, I always welcome and appreciate referrals.
Visit www.BryanLima.com today for information on buying and selling real estate in New Jersey.
Monday, November 2, 2009
A Greener and Cleaner Home
There are some easy and effective ways to keep your home spotless while being kinder to the environment and your health. Research has shown that conventional cleaning products containing ingredients such as chlorine, benzene, and optical brighteners are too strong for household use. The following are easy to use, more economical, and in many cases are products that can already be found in your own pantry:
•Baking Soda: This could almost be called the miracle worker of natural products. Use baking soda and a damp sponge when you want to clean your kitchen and bathroom countertops, your tub and tile, or any surface that you want to thoroughly clean without scratching. Tough stains? First treat the area with a little white vinegar, and then use the same sponge and soda method to clean thoroughly.
•Toothpaste: Did you know you can use toothpaste (not gel) to remove water marks from wood? A little bit of the paste on a damp cloth is all you need. Toothpaste is also useful to clean gold jewelry!
•Basic Table Salt: Spills in the oven? Rather than using those nasty-smelling oven cleaners, try table salt. This method needs to be used shortly after the spill happens to be effective.
•Distilled White Vinegar: Great for cutting grease on most surfaces, it is also a great way to clean floors and windows. Add some lemon juice to create a nice fragrance and add extra cleaning power.
•Lemons: Speaking of lemons, there are many ways this citrus fruit can help your home sparkle. Mix with baking soda to get rid of mold and mildew stains. Use in place of chlorine bleach to clean wooden cutting boards and counter tops. Rule of thumb – don’t use lemon juice on stone countertops, the acid in it could be damaging to that material.
•Olive Oil: The wooden surfaces in your home will benefit greatly from an olive oil massage. Cleans, moisturizes, shines! Editor’s Special Tip: Olive oil is also a fantastic way to clean stainless steel appliances and sinks. Use a small amount on a soft cloth and rub gently to clean. Also makes the surface temporarily fingerprint resistant.
*Above tips courtesy of NJMLS.
•Baking Soda: This could almost be called the miracle worker of natural products. Use baking soda and a damp sponge when you want to clean your kitchen and bathroom countertops, your tub and tile, or any surface that you want to thoroughly clean without scratching. Tough stains? First treat the area with a little white vinegar, and then use the same sponge and soda method to clean thoroughly.
•Toothpaste: Did you know you can use toothpaste (not gel) to remove water marks from wood? A little bit of the paste on a damp cloth is all you need. Toothpaste is also useful to clean gold jewelry!
•Basic Table Salt: Spills in the oven? Rather than using those nasty-smelling oven cleaners, try table salt. This method needs to be used shortly after the spill happens to be effective.
•Distilled White Vinegar: Great for cutting grease on most surfaces, it is also a great way to clean floors and windows. Add some lemon juice to create a nice fragrance and add extra cleaning power.
•Lemons: Speaking of lemons, there are many ways this citrus fruit can help your home sparkle. Mix with baking soda to get rid of mold and mildew stains. Use in place of chlorine bleach to clean wooden cutting boards and counter tops. Rule of thumb – don’t use lemon juice on stone countertops, the acid in it could be damaging to that material.
•Olive Oil: The wooden surfaces in your home will benefit greatly from an olive oil massage. Cleans, moisturizes, shines! Editor’s Special Tip: Olive oil is also a fantastic way to clean stainless steel appliances and sinks. Use a small amount on a soft cloth and rub gently to clean. Also makes the surface temporarily fingerprint resistant.
*Above tips courtesy of NJMLS.
Saturday, October 31, 2009
Daylight Saving Time Reminder
Daylight Saving Time
It's that time of year again to fall back an hour!
Daylight saving time officially ends at 2:00 a.m. on Sunday. But to make it easy, it's recommended you turn your clocks back one hour before going to bed on Saturday night. It's also a good time to change the batteries in your carbon monoxide and fire detectors. According to the National Fire Protection Association, four of every 10 home fires deaths in 2003-2006 resulted from fires with no smoke alarms. More than 90 percent of homes in the United States have smoke detectors, but one-third are estimated to have dead or missing batteries.
For the official U.S. time, click here.
I hope everyone had a fun and safe Halloween.
It's that time of year again to fall back an hour!
Daylight saving time officially ends at 2:00 a.m. on Sunday. But to make it easy, it's recommended you turn your clocks back one hour before going to bed on Saturday night. It's also a good time to change the batteries in your carbon monoxide and fire detectors. According to the National Fire Protection Association, four of every 10 home fires deaths in 2003-2006 resulted from fires with no smoke alarms. More than 90 percent of homes in the United States have smoke detectors, but one-third are estimated to have dead or missing batteries.
For the official U.S. time, click here.
I hope everyone had a fun and safe Halloween.
Monday, September 14, 2009
Wyckoff, N.J. Real Estate Market
The average purchase price in Wyckoff, N.J. has not really fluctuated too much throughout 2009. We did see a significant spike in July mainly due to 4 of the homes that closed in July were over $1,000,000. One of those homes actually sold at $1,899,000, which had a large impact on average sale price.
The one positive trend I see is that the quantity of homes sold in Wyckoff has increased month over month for the past 5 months with the exception of August where we saw a slight drop from July. In my opinion, this is an indicator that buyers are still willing to pay more to live in this area. Whether it’s the beautiful neighborhoods, the excellent school systems, the close proximity to NYC, etc; Wyckoff, N.J. is an ideal place to live. For a virtual tour of Wyckoff, click here.
If you’re interested in buying or selling in Wyckoff or any other town in Bergen County; give me a call today at (201) 970-6857 or visit http://www.BryanLima.com/ for additional information.
The one positive trend I see is that the quantity of homes sold in Wyckoff has increased month over month for the past 5 months with the exception of August where we saw a slight drop from July. In my opinion, this is an indicator that buyers are still willing to pay more to live in this area. Whether it’s the beautiful neighborhoods, the excellent school systems, the close proximity to NYC, etc; Wyckoff, N.J. is an ideal place to live. For a virtual tour of Wyckoff, click here.
If you’re interested in buying or selling in Wyckoff or any other town in Bergen County; give me a call today at (201) 970-6857 or visit http://www.BryanLima.com/ for additional information.
Monday, September 7, 2009
Labor Day 2009
Labor Day is just around the corner. I'm looking forward to spending some quality time with my family and letting my gas grill do some labor for a change! So here's a heartfelt Labor Day greeting from my family to yours!
Have you ever wondered how we came to celebrate a holiday with the odd name of Labor Day? Someone always asks, “Why is it called Labor Day when nobody labors on that day?”
While there is some disagreement regarding the original founder of Labor Day, we know that the first Labor Day parade was held by the Central Labor Union, September 5, 1882 in New York City. Common laborers were lobbying for recognition and appreciation for their long days and hard work (back then they received little pay and even less thanks). Over the next decade unions in other states began to adopt the day as a day of celebration and recognition of the contributions of the common laborer. Finally on June 28, 1894 Congress declared the first Monday in September a legal holiday.
For us Labor Day brings parades, festivals, speeches and picnics. Just as Memorial Day heralds the beginning of summer vacations, to most Americans Labor Day signals the waning of summer.
When this Labor Day roles around, don't be a workaholic! Take a well deserved rest and enjoy your family! I hope you and yours have a fun and safe Labor Day!
Have you ever wondered how we came to celebrate a holiday with the odd name of Labor Day? Someone always asks, “Why is it called Labor Day when nobody labors on that day?”
While there is some disagreement regarding the original founder of Labor Day, we know that the first Labor Day parade was held by the Central Labor Union, September 5, 1882 in New York City. Common laborers were lobbying for recognition and appreciation for their long days and hard work (back then they received little pay and even less thanks). Over the next decade unions in other states began to adopt the day as a day of celebration and recognition of the contributions of the common laborer. Finally on June 28, 1894 Congress declared the first Monday in September a legal holiday.
For us Labor Day brings parades, festivals, speeches and picnics. Just as Memorial Day heralds the beginning of summer vacations, to most Americans Labor Day signals the waning of summer.
When this Labor Day roles around, don't be a workaholic! Take a well deserved rest and enjoy your family! I hope you and yours have a fun and safe Labor Day!
Saturday, August 22, 2009
Mortgage Rates in Bergen County, NJ
In Bergen County, NJ, for the week of August 17th, we saw a decrease in mortgage rates which should push some buyers and current homeowners looking to refinance off the fence. Read more
For first-time homebuyers, this is an excellent opportunity to purchase your home in Bergen County, NJ before the tax-credit of $8,000 expires. With the average closing taking 60 days, that doesn't leave much time before the expiration date of November 30th. For those first-time buyers that are still looking, you probably want to try to locate a property that you like before September 30th to allow enough time to complete the transaction.
For additional information on buying a home in Bergen County, visit YourWyckoffRealtor.com today.
For first-time homebuyers, this is an excellent opportunity to purchase your home in Bergen County, NJ before the tax-credit of $8,000 expires. With the average closing taking 60 days, that doesn't leave much time before the expiration date of November 30th. For those first-time buyers that are still looking, you probably want to try to locate a property that you like before September 30th to allow enough time to complete the transaction.
For additional information on buying a home in Bergen County, visit YourWyckoffRealtor.com today.
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