Financing

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.

WAYS TO SAVE FOR A DOWN PAYMENT FOR YOUR NEW HOME

March 27, 2019 by Beatrice Bloom

Princeton Town Topics – Let’s Talk Real Estate – March 27, 2019

WAYS TO SAVE FOR A DOWN PAYMENT FOR YOUR NEW HOME

The thought of buying home brings both excitement and uncertainty.

The first thing you need to do is understand where you stand financially. What type of loan do you want, what do you qualify for will help determine how much you put down.

Once you have determined what you can afford, set up a separate account where a percentage of your income automatically goes. Doing this keeps temptation at bay and creates a sense of accomplishment when you see the dollars compounding toward you goal of home ownership.

Sorry coffee shops…but, those daily $5 splurges add up. If you were to put your coffee money into your down payment account, you could easily save close to $2,000 in one year!

Reevaluate your credit card debt. Pay off debt with higher interest rates first, and be timely in those payments. This saves you money and increases your credit score, both of which lenders will be looking at when it is time to get your mortgage.

SIMPLIFYING THE HOME BUYING PROCESS INTO SIX STEPS

March 13, 2019 by Beatrice Bloom

Princeton Town Topics – Let’s Talk Real Estate – March 13, 2019

SIMPLIFYING THE HOME BUYING PROCESS INTO SIX STEPS

1. Determine your purchasing power by working with a mortgage advisor to determine your purchasing power.

2. Search for your home with a Realtor who has the knowledge of local markets and activity.

3. Pick the right mortgage by using a team to provide competitive and versatile lending products.

4. Insure your home, family and auto with the right coverage bundled into one for a substantial discount.

5. Protect your investment with a home warranty and home protection services.

6. Close on time. Consistent, persistence & quality service, ensures you close when you want to.

All under One Roof…

Real Estate, Mortgage, Insurance & Closing Services – Let us take you home.

Simplifying the home buying

process into Six Steps

1. Determine your purchasing power by working with a mortgage advisor to determine your purchasing power.

2. Search for your home with a Realtor who has the knowledge of local markets and activity.

3. Pick the right mortgage by using a team to provide competitive and versatile lending products.

4. Insure your home, family and auto with the right coverage bundled into one for a substantial discount.

5. Protect your investment with a home warranty and home protection services.

6. Close on time. Consistent, persistence & quality service, ensures you close when you want to.

All under One Roof…

Real Estate, Mortgage, Insurance & Closing Services – Let us take you home.

CLOSING COSTS RESPONSIBILITIES

February 6, 2019 by Beatrice Bloom

Princeton Town Topics – Let’s Talk Real Estate – February 6, 2019

CLOSING COSTS RESPONSIBILITIES

Buyers and Sellers need to take into consideration closing costs on both sides of a Real Estate Transaction, which run between 2-5% of the purchase price of a home.

Buyers are responsible for:

· Attorney Fees

· Title and escrow fees

· Inspection Costs

· Lender Fees

· Homeowners Insurance

Sellers are responsible for:

· Attorney Fees

· Commission

· Paying off existing loans

· Property Taxes & HOA fees

· Repairs from Buyer’s Inspections

Prior to closing, both Buyers and Sellers will get a chance to review the settlement statement and compare the final figures with their good faith estimate and anticipated closing costs.

Financing

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