Financing

HOW TO SUBMIT AN OFFER THAT’S MORE LIKELY TO GET ACCEPTED

October 23, 2019 by Beatrice Bloom

Princeton Town Topics – Let’s Talk Real Estate – October 23, 2019

HOW TO SUBMIT AN OFFER THAT’S MORE LIKELY TO GET ACCEPTED

How to Submit an Offer That’s More Likely to Get Accepted

While it may seem there isn’t too much within your control when it comes down to making an offer on your dream home, considering using these tips to increase your chances of submitting an offer that gets accepted:

Understand the market. An offer not only identifies what you are willing to pay for the house but also what you think it is worth.
Consider motivation. A seller’s motivation can tell you a lot about their willingness to accept a lower offer.
Be timely. You have less negotiation power if the seller has been presented with multiple offers. The sooner you put in an offer, the quicker you can find out whether or not your offer has been accepted or if you will be given an opportunity to revise it.
Offer a higher earnest money deposit. The earnest money deposit (EMD) accompanies your offer letter. It signifies a serious, sincere commitment to wanting to purchase the house.

The home-buying process can feel overwhelming at times. Fortunately, there are things you can do to improve your timeline while also increasing the chances of having your offer accepted. Do your research, try your best to be patient, and you will be in your new home in no time.

SHOULD YOUR LIFE INSURANCE POLICY COVER YOUR MORTGAGE?

October 16, 2019 by Beatrice Bloom

Princeton Town Topics – Let’s Talk Real Estate – October 16, 2019

SHOULD YOUR LIFE INSURANCE POLICY COVER YOUR MORTGAGE?

Your home is one of the biggest financial investments you and your family will make. If you are the primary person responsible for paying the mortgage, have you considered what would happen if you passed away before the mortgage is paid off and who would become responsible for the payments? Unfortunately, the act of paying off the mortgage could become a financial burden to your family. So, what’s the best way to try to cover these expenses and gain some peace of mind?

When it comes to choosing homeowners’ life insurance, you may have heard about mortgage life insurance, as well as term life insurance. Mortgage life insurance only pays off the mortgage of the house, and your beneficiaries will receive no other money from that policy. So, some experts will recommend getting term life insurance instead of mortgage life insurance because it allows you to buy coverage beyond just the mortgage repayment to meet all of your family’s needs. And depending on your age and the condition of your health, the premiums, in general, tend to be lower with term life insurance compared with mortgage protection insurance.

Take the time to make a careful, informed decision when purchasing life insurance and work closely with a trusted agent, who can help you decide on the best plan for you and your family.

FINANCIAL TIPS FOR FIRST-TIME HOMEBUYERS

October 9, 2019 by Beatrice Bloom

Princeton Town Topics – Let’s Talk Real Estate – October 9, 2019

FINANCIAL TIPS FOR FIRST-TIME HOMEBUYERS

It can be difficult to understand what costs are involved with buying a house if you have never gone through the process before. These tips can help you navigate homeownership and ensure that you are financially prepared for the costs:

Consider all costs of home-ownership. Your mortgage payment is not the only expense that you will be responsible for when owning a house–you also have to consider costs like insurance, property taxes, and repairs.

Reduce your monthly payments with a higher down payment. The more you are able to put down now, the less your monthly payments will be. Additionally, the less money you need to finance, the less interest you will pay.

Understand your closing costs. Most loans require that you bring cash to the closing table. The exact percentage will depend on your loan terms. You will also be responsible for origination fees, credit-report costs, and agent fees.

Your credit score can make a difference. If you have a low credit score, you may want to consider taking some time to work on bumping it up. By raising your score, you may be eligible for a better mortgage rate and with fewer interest costs, you can reduce your monthly mortgage payment.

SOLAR PANELS; CREATING ENERGY WHILE SAVING MONEY

June 26, 2019 by Beatrice Bloom

Princeton Town Topics – Let’s Talk Real Estate – June 26, 2019

SOLAR PANELS; CREATING ENERGY WHILE SAVING MONEY

Solar Panels reduce energy costs, add value to your home, create less of a carbon footprint and can generate and 8-10% return on investment. There are some things that you need to know before you decide to move forward to making these changes to your home.

· What size system do you need

· How many square feet does your roof space allow for solar panels to be installed

· What is the annual amount of Kilowatt hour you can expect from your system

· Are there tax credits and other incentives

· Energy costs in New Jersey are expensive; what is the projected savings and how long will it take to recoup the cost of installing the system

When taking into consideration as to buy or lease the panels, you should know that if you chose to lease it may complicate things if you decide to sell your home.

THE COST OF WAITING TO BUY A HOME

June 12, 2019 by Beatrice Bloom

Princeton Town Topics – Let’s Talk Real Estate – June 12, 2019

THE COST OF WAITING TO BUY A HOME

Fredie Mac is forecasting interest rates to rise to 4.5% by the end of the Fourth quarter in 2020. Corelogic predicts that home prices will appreciate 4.8% over the next twelve months.

Today Next Year

4.3% Interest Rate 4.5%

$250,000 Home Price $262,000

$1,231.60 Mortgage Payment $1,321.04

If home prices continue to appreciate and interest rates go up, waiting to buy could cost you thousands of dollars. Over thirty years, you could save $32,198 that money could used for retirement. Yearly you can save $1,073.28, perhaps you could take a weekend retreat. Monthly, you save $89.44, perhaps dinner and a movie.

Still on the fence? Let’s sit down and find out the difference a year could make in your life.

MULTIPLE OFFERS

April 24, 2019 by Beatrice Bloom

Princeton Town Topics – Let’s Talk Real Estate – April 24, 2019

MULTIPLE OFFERS

With limited inventory and many buyers, we are finding there are multiple offer situations happening in and around town. There are different ways for a seller to negotiate multiple offers. The terms considered are Price, Good Faith Deposit, Money Down, Financing, Closing Date and other contingencies such as inspections and financing commitment. Just because a person is willing to pay the highest price, does not necessarily mean they are the “best offer” Things to consider…

· They can accept the “best offer”.

· They can make a counter offer to one party letting the parties know they are awaiting a decision.

· They can ask for all buyers to put in there final and best offer at which time the owner will evaluate all of the terms and decide which is the best and most likely to make it to the closing table.

When you find that you are in this situation as a buyer, it is wise to go in with the strongest offer right from the start. This shows you are serious about getting the deal done.

Financing

Footer