Home Buying in Hoboken>Question Details

Trulia, Other/Just Looking in San Francisco, CA

What are some tips for first-time home buyers?

Asked by Trulia, San Francisco, CA Sun Mar 4, 2012

Can you share some of your top advice or tips for home buyers?

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Answers

4
Joseph S. Cordova’s answer
I would prepare all the documents you will need to not only get a pre-qualification, but a pre-approval. That way you know exactly what you will qualify for, and what mortgage programs are available to you.

Watch this short video to learn more.
http://realestatemarbles.com/jscordova/2011/06/24/pre-approv…

Joseph S. Cordova NMLS# 146855
http://www.joecordova.com
Lincoln Mortgage Company
8003 Lincoln Drive West, Suite F
Marlton, NJ 08053
direct fax: (206) 333-0946
cell: (856) 304-2381
2 votes Thank Flag Link Mon Mar 5, 2012
Please take a look at the link below i think you will find the information very helpful.
2 votes Thank Flag Link Sun Mar 4, 2012
Prepare yourself. Pull your own credit score. Its easy to do on http://www.annualcreditreport.com.
Its free unless you want additional services offered on the site.

Understand your tax bracket. How will the deduction for a mortgage and property tax help you?

What about that down payment. How much money are you prepared to dedicate to your new home?

These are all questions a Lender will be asking you.
1 vote Thank Flag Link Sun Mar 4, 2012
What are you looking for? Understand the different sections of town and what they have to offer and what is under development.

The NW end of town has been re-zoned a re-development area. I believe developing this area which is largely industrial property will positively impact the area just south of it (below 14th West of Clinton). Not only is the North West part of a redevelopment zone, the County is currently in the process of replacing the 14th Street viaduct. When the county is done, a park is planned for under the bridge. I believe this will greatly improve the area and bring value to the homes adjacent to the park/viaduct.

The park plans have been approved and are already underway for North Cove and 1600 Park again, further gentrifying and ingratiating this area.

The City Council has recently approved a resolution to buy a large tracked of land in the SW for a half an acre park in that area. This along with the wet water pump that went live in October, I think will largely relieve flooding in that area and increase values. Many newer buildings in that area have been built with flooding in mind and are good values now. I think the park will further remediate the flooding and will improve values as parks are highly valued.

Go to open houses to see what your dollar can buy in the various parts of town.

I put together an open house and new listings map from over 15 sources: Hoboken and Mid-Week Reporter, MLS, realtor email blasts, agency websites, CraigsList, and more. I put it out on Wednesday and update it again on Fridays.

See below for the link.

My website http://www.hobokenrealestatemonitor.com has hyperlocal news about Hoboken - articles on real estate related topics, street maps, weekly statistics, Reports from the Police Dept on crime stats, Day care and school info, infor on ordinances that impact real estate and much more.

Let me know if you have any questions.... Donna
1 vote Thank Flag Link Sun Mar 4, 2012
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