The National Association of Realtors (NAR) has indicated that new construction increased in 2012 and will only continue to increase in 2013. So as a buyer, what is the process and how are you represented
There are several things going on in my Basking Ridge Real Estate world that I thought I would share.Â Moving sale at 11 Archgate Road in Basking Ridge Friday, 6/24Â fromÂ 9am â€“ 2pm and Saturday,
For several years, Bernards Township (Basking Ridge) has had a contract with the Central Jersey Housing Resource Center to administer its affordable housing unit program. On its website, the CJHRC has a list of financial institutions that have indicated they will work with low and moderate income qualified individuals to obtain financing for these units. You may want to try this link:
You can also try contacting the CJHRC directly (908-704-8901) to find out which lenders have successfully worked with purchasers and homeowners refinancing Basking Ridge units recently, as those lenders are most likely to understand and have programs in place to work with the affordable restrictions in place. In my experience, some lenders are unfamiliar with working with the restrictions, so I recommend asking your mortgage representative in the beginning to confirm whether their bank works with the restrictions. The CJHRC can also provide you with copies of the forms that the township will require (for example, the restrictive language to go into the deed, the repayment mortgage and repayment note), so your lender can verify in the beginning that they will give you a mortgage understanding the form restrictive documents will be required.
It may also be helpful to use the services of an attorney who has recently represented a buyer in an affordable housing unit purchase in Basking Ridge, since they will have been through the process and may best be able to assist and guide you. The CJHRC should be able to give you a list of those attorneys as well.
Â« December Market Activity in Basking Ridge Mortgage Information from Weichert Financial January 4, 2010Â The final two weeks of December have not been kind to mortgage rates. Stronger than expected