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08081 : Real Estate Advice

  • All52
  • Local Info2
  • Home Buying36
  • Home Selling9
  • Market Conditions0

Activity 48
Jerry Barker, Real Estate Pro in Atlantic City, NJ
Fri Apr 2, 2010
Jerry Barker answered:
None that I know of, but there some great deals out there in that area right now, and the 8000 tax credit is still up for grabs if you can get under contract before the end of this month. If you would like to purchase a property in sicklerville or winslow feel free to let me know and I will try to help you out as best I can. ... more
0 votes 1 answer Share Flag
Elisa Dewees, Real Estate Pro in Cherry Hill, NJ
Sun Mar 28, 2010
Elisa Dewees answered:
One more note added to the already great answers: there is a lockbox permission form that must be signed by you as the tenant to allow a box to be put on the property!
0 votes 9 answers Share Flag
x,  in Richmond, VA
Sat Nov 21, 2009
x answered:
If you are planning on being in the home for just 2 years or a bit longer, you must consider the costs involved in buying a home. Weigh that against any advantages and see where you stand. Keep in mind that if your property value goes down, you incur another loss upon resale. Also consider the costs involved in having to then sell the home in 2 years.

Think things through carefully. I can't give you a definitive answer with such minimal information. But you do the math.

Carol Lloyd, CLU, ChFC, FLMI
Mortgage Advisor
"In the Business of Educating My Clients About Mortgages"
First Hallmark Mortgage
(856) 728-7100
... more
0 votes 8 answers Share Flag
x,  in Richmond, VA
Sat Nov 21, 2009
x answered:
Hello Shanise,

If you are thinking about just the basic FHA mortgage, the answer is "no."

Under current guidelines, FHA lenders will approve a maximum base mortgage loan equal to 96.5% of the purchase price. They will use 96.5% of the "appraisal value" if that value is lower than the purchase price.

This makes sense for 2 reasons: (1) the lender does not want to be on the hook (right out of the starting gate) for a loan that is more than the property is worth; and (2) "YOU" do not want to pay $275,000 for a property worth $225,000. Then YOU would be in a losing position (upside down) right out of the gate.

The pre-approval amount is not related at all to the actual purchase price or appraised value of the actual home you end up selecting. The pre-approval was merely a guide so you and your realtor would know where to focus your search efforts. No need to look at penthouses if your approval is for a townhouse. :-)

Hope things went well.

Carol Lloyd, CLU, ChFC, FLMI
Mortgage Advisor
"In the Business of Educating My Clients About Mortgages"
First Hallmark Mortgage
(856) 728-7100
... more
0 votes 6 answers Share Flag
Joe Montenig…, Real Estate Pro in Sewell, NJ
Wed Nov 11, 2009
Joe Montenigro answered:
In short, yes your past debts could attach to the house. Even if your not on the deed/ title, as the marital residence you have an interest in the house and when your wife goes to sell it or refinance, your debts may need to be paid off in order to give the new buyer clear title or the new lender on a refi a first lien position.

There are several variables here which we don't know such as what you mean by "debts"... are they judgements? collections? charge offs? I hate to use the cliche, but you really do need to consult with a real estate attorney who will look into the specifics of your situation and then collaborate with your new mortgage lender on your best solution.

Good Luck....
Joe Montenigro
Broker Owner, REMAX Home Team
serving Gloucester Twp and Southern NJ
... more
0 votes 4 answers Share Flag
Janet Larsen, Real Estate Pro in Turnersville, NJ
Sun Aug 23, 2009
Janet Larsen answered:
85% of my business is in Sicklerville. There are many homes for sale in the area and it is a great time to buy and if you are a 1st time homebuyer (haven't owned a home in 3 years) you qualify for an $8,000 tax credit, but you must settle on a property before Dec 1, 2009. I would be happy to do a search for you. Please contact me at your convenience at 856-261-6910 or register and search my site below. ... more
0 votes 5 answers Share Flag
Larry Sarlo, Real Estate Pro in Sewell, NJ
Thu Sep 18, 2008
Larry Sarlo answered:
Was by you property just today. I'm in the post ofice regularly.
Selling commercial is much different than residential. Your marketing has to be focused toward enterprise. You need more than a residential agent to effectively market your property as a commercially zoned property. I see mostly you are currently marketing toward small mom pop type operations, which is probably what your bldg on the property is best capable of being used.
The growth on that corner is primarily due to WaWa and it's traffic. That's a good thing for you. But more so attention would be better given toward commercial developers, especially in this tight money. Imagination and a good marketing plan may move your property. But don't expect a commercail deal to go 123 like a residential. They take a long time to cater and make happen. Smaller operations can work but you need a strong model. Don't just shoot arrows in the dark. An agent who has a focused plan will do best. Make them develop a plan of marketing for you. Let them show you a target they are shooting for. MLS can be the luck, but you need more than luck , you need your agent to make things happen. Make the deal work and hold on tight so nothing falls through the cracks. Like I said it could take a long time, expect a long process. The money avail for commercial is tight big or small.
Any further questions I welcome you to contact me personally.
... more
0 votes 4 answers Share Flag
ATS Enviro, Other/Just Looking in New Jersey
Fri Sep 21, 2007
ATS Enviro answered:
If the underground tank is still in use there is no law in NJ that requires it to be removed. If it is no longer used as part of the heating system some towns due require the tank to be closed in-place or removed. In either case before you take title to this property you must have the soil around the underground tank evaluated. The samples taken should come from 0 to 6 inches below the base of the tank and a minimum of 4 soil samples should be taken. It is important that the samples be sent to a laboratory for analysis. Do not allow the company taking the soil samples to evaluate the samples on site without the samples being further processed to a laboratory. If the samples show that heating oil is in the soil this is reported to the NJDEP and they will assign a "spill number" and the current owners are responsible to remediate the site. If the samples are shown to be clean than you can apply to the State of New Jersey for grant money to have the tank removed. In most cases the grant money ($1200) will cover the majority of cost for removal. Also if the tank is still in use the grant money ($1800) will also pay for the installation of a new tank. You can apply on-line or have a company like mine pre-qualify you and apply to the state for you. If you need further information on applying for the grant or on having the tank evaluated please contact our office. ... more
0 votes 6 answers Share Flag
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