Donald Patterson

I'm a:	Real Estate Professional
Company:	Jordan Baris Inc., Realtors
Location:	West Orange 07050
Phone:	(973)7361600

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Donald Patte…'s Questions (0)

Donald Patte…'s Answers (5)

Why is now the best time to buy?

Asked Wed Apr 9 2008, 08:35 by Gil Rodriguez - Whittier - Home Buying - 13 answers

Donald Patterson answered:

1.) Market--historic, plummeting prices. 2.) Conditions--buyers in driver's seat: more selection, better bargaining opp'ties & comparable selections, 3.) Mortages--better deals, more companies anxious to get customers and better overall rates nationwide. If you have solid credit rating, you are in a very strong position, 4.) There is far greater latitude to leverage your money over a time period suiting you--not your bank and, 5.) Sellers are desperate, need to sell and want to snag a good deal. Could home-buying be better?? - Wed Apr 9 2008, 10:56

buying in 07052 W.Orange NJ-what legitimate costs should i expect at closing for a 250,000 single Fmly house.

Asked Sat Apr 5 2008, 16:52 by Julio - 07052 - Home Buying - 3 answers

Donald Patterson answered:

Julio--
I won't stagger you with the lists of stuff you'll have to pay for in any closing. A couple other people have already done that. But do keep in mind that the floating percentage of your total purchase price varies little at closing. Lawyer's fees vary, PMI Insurance either is or is not a factor, etc. Anticipate a total closing bill of between 2.25% and 3%. I cannot re-iterate enough that it is the job of your lawyer to go over and explain, highlight major differences among and prepare you to totally anticipate each charge. You should never be in a position of being surprised at closing. Good luck and enjoy life in West Orange! - Wed Apr 9 2008, 10:45

First time homeowner - Remodel or not ? Need your expert insights.

Asked Wed Apr 9 2008, 03:43 by Kris - 55126 - Home Selling - 13 answers

Donald Patterson answered:

Kris--
You will never lose money in a kitchen re-mod; no matter how the market slides, it is like putting money in the bank. Why? Kitchen re-dos are at the top of buyer favorite things, you get to enjoy it while you stay in your TH and the yeild on such an investment just cannot be duplicated when it comes to re-sale. Call your contractor now--you'll never regret it. - Wed Apr 9 2008, 07:28

When looking for a new brokerage to work with, what are the most important factors to consider?

Asked Tue Apr 1 2008, 18:46 by DCinFWB - Destin - Agent2Agent - 14 answers

Donald Patterson answered:

Develop a simple mathematical formulae: divide total annual gross receipts for the agency by the number of years that agency has been in business. Take the result and put all current known expenses against it. As a secondary equation, evaluate the return on annual investment: all expenses, all agent commissions as well as overhead-to-keep-em-running as a factor of profit. Your answer should yeild a decision. - Thu Apr 3 2008, 07:39

I'm thinking of moving from New York City to Newark and was wondering what my options were in terms of

Asked Wed Mar 5 2008, 07:28 by James - Newark - Market Conditions - 6 answers

Donald Patterson answered:

Among your best options: newer to brand-new two family homes w/ 3BR apts on each of two levels. Some older apt buildings in and near downtown (Forest Hill, Ironbound) are still affordable and convenient to transportation. Least expensive apts exist in dicey neighborhoods, in and around the unviersity district and in outlying areas. Access area before renting! - Fri Mar 7 2008, 13:04

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What's this?

Specialties

Suburban Essex single and multi-family housing
NYC or boros transplantees to New Jersey
Downsizing from larger to smaller home or condo living
New development urban multi-family purchases
Empty Nest syndrome and subsequent re-location
Commercial investment: residential/retail properties

Experience

Latest:

Rental Manager for Weichert

Upper Montclair--April, 2002 - April 2005 Morristown West--October 2000 - May 2002

January 1950—present

Certifications & Awards

NJAR Circle of Excellence Bronze Award 2007
Weichert Ambassador's Club 2004

Interests

Sailing, Hiking, Travel
Museums, Theater, Classical Music
Reading, Puttering, Fixing Stuff, Woodworking

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