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Home Buying in Bergenfield : Real Estate Advice

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  • Local Info1
  • Home Buying14
  • Home Selling1
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Activity 21
Mon Jul 4, 2016
Ian O'Donnell asked:
Mon Jul 4, 2016
Ian O'Donnell asked:
Wed May 27, 2015
agus pamon asked:
how to make an offer on a for sale by owner home; which based on several internet site at least 4-5 it shows the house if overprised by almost 75000 to 100000?
0 votes 0 Answers Share Flag
Sun May 25, 2014
Robert Kohrs answered:
Taxes are levied annually. HOA dues are charged monthly but only if it is a condo. www.njactb.org has year built.
0 votes 1 answer Share Flag
Mon Mar 3, 2014
Andrew Tisellano answered:
the income from a rental is the same as income from any other business or job. With rentals you usually have quite a bit of write offs so you only pay tax on the profit.
items that you can deduct include, property taxes, mortgage interest, water, other utilities, painting and repairs, snow removal, lawncare or hoa fees.

Contact me and I can guide you.
... more
0 votes 1 answer Share Flag
Thu Jul 11, 2013
Approved Funding answered:
Unfortunately, in today’s marketplace and real estate environment a “low appraisal” is the #1 reason that contracts and deals fall apart.
Here are a few options and suggestions that you can consider if your appraisal comes in below market price:
1) Challenge the appraisal. Ask for a copy. You are certainly entitled if you paid for it. Work with your Realtor to make sure the appraiser used the best comps in the market.
2) Challenge the lender. Did they use a local appraiser? Is this appraiser familiar with the intricacies of the area?
3) Negotiate with the seller. An appraisal done by an independent 3rd party company is the perfect proof that their home isn’t worth what they think it is. Let them rethink their sale price and come down to something more reasonable with the market estimates.
4) Accept it. Depending on your down-payment, if it is substantial enough - a lower than expected purchase price can have minimal effects on your rates and terms. Speak to your lender.
5) Walk away. Sometimes the best deals are the ones that you don’t do. It might be hard, but if you aren’t “feeling it” after a low appraisal, its often best to walk away and start fresh elsewhere.
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Tue Apr 23, 2013
stephen webber answered:
Yes and they are legitimate and available. Most states have agencies that will loan or grant the required down payment and USDA. First step is to gather up all the objective information you can find because the most important step of the financing process is choosing an ethical experienced loan officer who works for a lender that offers all of the loan types and is practiced with your states agency that offers assistance.
The challage is not all lenders are experienced with these loans so the loan officer will try to talk you out of them. Many of them will try to talk you out of the MCC tax credit for first time home buyers when it is one of the best tax credits ever.
At Your Road Home.com you will find an article, Consultation Interviewing Loan Officers. You will also find articles on all of the loan types as well as a link to your state's agency that offers assistance.
Also read article #9 about the MCC Tax Credit. After you have gathered up all the objective information you can find you will know what questions to ask the laon officer and what the answers should be.
Trulia is also a good source of information and after you have gathered your information you will find loan officers and agents from your area offering their services on Trulia.

Best of Luck, Stephen Webber
... more
0 votes 8 answers Share Flag
Mon Oct 15, 2012
Marsha Bowen Washington answered:
If you are paying cash, you closing cost should be less than if you are using mortgage financing. You should be prepared with at least 5% of the purchase price to cover closing costs.
0 votes 4 answers Share Flag
Tue Aug 7, 2012
Wayne Odenbrett answered:
As the say in Brooklyn, forget about it. Each town pays taxes to support their own schools. They are all quite diligent about allowing only their residents attend
0 votes 6 answers Share Flag
Tue May 29, 2012
Jeanne Feenick answered:
While there are, I would just also say, be cautious and buy what you can afford so you don't end up in a heap of heartache.

Good luck and best,
Jeanne Feenick
Unwaverinig Commitment to Service, Unsurpassed Results ... more
0 votes 9 answers Share Flag
Thu Mar 1, 2012
Lyle Wolf answered:
Ravi

You can find the tax information for any property in New Jersey here:
http://tax1.co.monmouth.nj.us/cgi-bin/prc6.cgi?menu=index&ms_user=glou&passwd=data&district=0801&mode=11 ... more
0 votes 4 answers Share Flag
Fri Apr 29, 2011
Lydia V asked:
I am getting ready to close and my attorney isgiving me the runaround and will NOT give me a preliminary HUD statement. Does he have to give me a support for the various amounts on the…
0 votes 0 Answers Share Flag
Fri Aug 27, 2010
Ravit Advocat answered:
Right now condos are available for purchase only. The Pet policy does not appear consistent within THE PLAZA AT TENAFLY. Some condos allow pets without restriction, and some the pet must be under 30 lb. ... more
0 votes 2 answers Share Flag
Tue Jul 20, 2010
Maria FORSBERG-VILLON answered:
I AGREE WITH THE PREVIOUS ANSWER. BERGENFIELD IS A SAFE GOOD TOWN. THE TAXES ARE HIGHER AND THAT IS THE REASON MANY PEOPLE ARE AVOIDING TP PORCHASE SOME PROPERTIES AND ALSO IS A REASON FOR PEOPLE TO MOVE OUT WHEN THEY ARE TIGHT WITH MONEY. BERGENFIELD IS COMPARABLE TO OTHER TOWNS NEARBY AND IS CLOSE TO EVERYTHING. ... more
0 votes 3 answers Share Flag
Wed Jun 30, 2010
Weichert Realtors answered:
Thu Jun 17, 2010
Deborah Madey answered:
The fees for both payments must be disclosed. Yes, one person can act as mortgage rep and real estate agent. I do know of a few individuals who can do this well. Those individuals usually serve a niche market of clients, allowing them the ability to become knowledgeable in both loans and real estate within a narrow area. For a real estate agent who is serving many types of clients across several geographic boundaries, it becomes more difficult to know the real estate market well and keep up with loan programs.

A real estate licensee who holds is also licensed for mortgages can also partner with another mortgage rep and the income earned from the loan can be paid to both.

There is an argument that there is a conflict of interests. There is also another side to this argument. A real estate licensee has a fiduciary responsibility to their client. A mortgage rep does not. A real estate licensee has a legal obligation to put your interests first. A mortgage rep works to make the loan at the highest yield possible for their employer. When an individual is both your real estate licensee and your mortgage rep, there is a benefit to the fact this person now has legal responsibilities to look out for your interests by way of their real estate license.

I do not function as a mortgage rep, but align myself with mortgage reps that are both knowledgeable about the fast ever-changing world of mortgages and who are trustworthy to look out for the interests of the client.
... more
0 votes 4 answers Share Flag
Mon Mar 15, 2010
954bruce answered:
so you can purchase a short sale house with a fha loan
0 votes 3 answers Share Flag
Mon Aug 10, 2009
Jack Vollenberg answered:
Hi C3r1,

Some conflicting answers here. Let's summarize it for you:
1-Get pre-approved/prequalified......find out what you can comfortably buy.
2-Put in an offer. You do not need a significant amount of cash, but the bank may want more than your typical $1,000 good faith deposit.
3-You do not need a realtor or an attorney to buy a foreclosed home. But it's not in your best interest to learn as you go, is it? Use professionals and they will make it look easy!
4-You can do any and all inspections you want. The bank just treats them as inspections for informational purpose only. You find some serious defect, the bank may elect to ignore it and say that you bought it as-is. At that point you can always still walk away.
5-There are other investors out there with maybe lots of cash. If you see one, point them my way. I love working with them. There are plenty of REO properties out there for everyone.

I think that covers most of it. Have any more questions? Feel free to buzz me or e-mail me.

Sincerely,

Jacobus "Jack" Vollenberg
RE Appraiser - Vollenberg Appraisers
Asset Manager - ERA Statewide Realty
Vollenberg@iname.com
Cell (973) 590-0142
... more
0 votes 9 answers Share Flag
Thu Jan 22, 2009
John Sacktig answered:
Susan,

As you can see from the posts below.. price is what we need to know! Where do you want to be "price wise" this will help narrow down the choices. There are very affordable Victorians in Freehold Broro, maybe South River .. But again, price is a need to know item with this question. ... more
0 votes 6 answers Share Flag
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