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Home Buying in Franklin Park : Real Estate Advice

  • All27
  • Local Info4
  • Home Buying7
  • Home Selling0
  • Market Conditions1

Activity 25
Wed Jun 29, 2016
Catgirl0756 answered:
Not to offend anyone on here but some of the answers are quite stupid. Just because you read something in a article doesn't mean you have to believe it. The reason why is because like some of the smart guys have said... The insurance company & construction companies wouldn't make money.

My grandmother is living in the house that she build 58 years ago ( made of concrete) and she is still have it today.

The only think we ever did it was painting. We had huracans, earthquake, tornados, and thanks God none of it have done anything to the house.
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0 votes 29 answers Share Flag
Fri Jun 26, 2015
Diane Christner answered:
Anyone who earns a real estate license can be called a real estate agent, whether that license is as a sales professional, an associate broker or a broker. State requirements vary, but all require a minimum number of classes and pass a test to earn your license.

A REALTOR is a real estate agent who is also a member of the National Association of Realtors.

A Broker is a person who has taken education beyond the agent level as required by state laws and has passed a broker’s license exam. Brokers can work alone or they can hire agents to work for them.

An Associate Broker has taken the education course and passed the broker's license exam but is not working as the designated broker of a real estate agency at this time.

Hopefully this clears up some of your confusion.
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2 votes 2 answers Share Flag
Mon May 18, 2015
Sandra Patti answered:
Generally should take the bank less than 2 weeks to turn around once the appraisal is done; usually less. Sometimes, just 7-10 days.
0 votes 13 answers Share Flag
Mon May 12, 2014
Jerel Washington answered:
Metta,
Is your goal to purchase your first investment? Do you have a current portfolio? If so, how many properties do you own and what is there make up? Are you looking grow or start your Real Estate investments?

Let me know and I'd love to help you long term not just in the initial transaction.

Hope this helps get the ball rolling
Jerel Washington
Keller Williams Realty
http://www.cnjluxuryhomes.com
C: 609.933.9044
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0 votes 5 answers Share Flag
Fri Mar 21, 2014
Shalu Thaman answered:
Hi Dina,

Your price range dictates areas, so while you can research schools, it makes sense to start with Step 1, rather than go with the #1 school district on your list & then find out that there are no suitable homes there that match your needs.

the $200-$330k is a very competitive price range BTW & anything in move in condition well price goes fast, as there is little inventory.

Start with your price range : Search homes & track prices for your areas of interest .

Search the ENTIRE MLS for FREE & get NEW LiSTING alerts to be emailed to you on my site :
http://Princetonhomenj.com OR www.Princetonareahomesnj.com
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0 votes 3 answers Share Flag
Sat Mar 1, 2014
Andrew Tisellano answered:
could be anything from environmental to loose banister. FHA does a more specific inspection.
items to look for is peeling paint roof leaks inoperable appliances and heating
0 votes 6 answers Share Flag
Tue Jan 28, 2014
Shalu Thaman answered:
If you are a homeowner, considering either renting or selling your home,the clarifications to your 1st & 2nd statement are as below:-

1. Whether a market-based rental price covers a home owner's mortgage depends on the home owner's INDIVIDUAL financing situation. i.e.. if the current loan or payment is based on a high borrowed amount , home equity line of credit & the monthly payment for the same.

This helps you decide if it is worthwhile renting the home or selling would be a better option.

2. The location, condition, features & updates & market conditions dictate what it could sell for.

To find out what your home is currently valued at, please contact directly for a No-Obligation Valuation.

As a former Franklin Township resident, I can also offer insight into LOCAL market trends.

Shalu Thaman- Realtor,ePRO,SRES,ABR
Keller Williams Real Estate
609.577.5861
ShaluThaman(at)gmail.com
http://PrincetonHomeNJ.com
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0 votes 4 answers Share Flag
Wed Feb 13, 2013
Gina Chirico answered:
Ray,

The selling agent must be registered with HomePath in order to submit offers. All offers must be submitted online by the selling agent using HomePath's portal. If you search homes for sale on HomePath, the listing broker's information will be there but you do not have to contact each broker for each listing. Any licensed real estate agent registered with HomePath can assist you in buying a HomePath property. As with other homes for sale, many of the HomePath properties are also listed on the multiple listing service and will provide the agent instructions on how to access the property to show it to buyers.

Feel free to contact me directly if I can assist you further and/or if you are looking to buy in Essex, Morris, Passaic and/or Union Counties.
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0 votes 1 answer Share Flag
Mon Aug 20, 2012
Kenneth Verbeyst answered:
If you are referring to individual residences, all fees and commissions are negotiable. When I manage homes the fee depends upon the attention the owner requires such as number of inspections done, oversight required. I believe licensure requirements are also different if you are only managing for one ownership entity. (I dont believe all property managers are licensed as agents are) The best advice I would give you are get the best tenants and leases in place and your management needs are greatly reduced. ... more
0 votes 2 answers Share Flag
Tue Jul 3, 2012
Diane Vanvliet answered:
Hi Ray.....There is no time likethe present to begin your search, as buying a home is usually the most important decision people make in life. A good agent will understand your needs and show you everything on the market at the price point you are comfortable with. Good luck..Diane..agent 732859 2376 ... more
0 votes 5 answers Share Flag
Mon Apr 30, 2012
Gloria Laughton Allston answered:
Short sales can take a while because of a number of reasons but often it has to do with Bank backlogs. You did not mention it but banks sometimes ask for 2 appraisals when the property is being purchased or sold by an investor.

Gloria Laughton Allston, REALTOR, GREEN, SFR, SRES
COLDWELL BANKER RESIDENTIAL BROKERAGE
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0 votes 1 answer Share Flag
Fri Jan 6, 2012
Francesca Patrizio answered:
Sherui,

My expereince, if there are no issues with the appraisal, then 24 to 48 hours is the norm. However, if the appraiser is having difficulty (and this happens often these days as the new system of seperating appraisers from \banks often leads to appraisers unfamiliar with an area to to the job - and we are all complaining that this system is faulty), then there is a good chane the bank wiill order another.

In short, reason for concern and/or renogotiations.

Francesca Patrizio, Broker Sales Associate,, ePro, SRES
Francesca@Patrizio.RE.com
732.606.2931 (Direct/Cell 24/7)
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0 votes 7 answers Share Flag
Mon Jan 2, 2012
Mary Petti answered:
Leslie,

95 Pear Tree Lane expired on December 31, 2011. It has not been re-listed as of this post.

There are several nice units available in the Society Hill developments in this area. I would be happy to speak to you and discuss what you are looking for in more detail.

I currently have a listing at 56 Amethyst Way in the development, and another listing on Fisher Drive which will be closing at the end of the month, so I am very familiar with the developments.

Give me a call at 908-675-0167 and we can chat.

Happy New Year!!
Mary Petti.
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0 votes 2 answers Share Flag
Wed Nov 30, 2011
Diane Glander answered:
If your "final approval" is your loan "commitment", most lenders can close you within a week. Hopefully by that time, your attorney and Realtor have everything else in line for you so there are no delays. The financing is just one step to a successful closing. Good luck and congratulations! ... more
0 votes 3 answers Share Flag
Sat Nov 19, 2011
Jeffrey Onofrio answered:
Chantel82:
That is very hard to answer. The only real answer can come from the mortgage company whom is working on your deal and what promoted them to need those 2 conditions at the end of the process. If it was small (easy) conditions then most companies have a 24-48 turn time on conditions. It really depends. At my company if we were to get the conditions quickly then we would turn it around right away- when is or was your closing date? I would hope that if this had a closing date coming up they would move it to the front of the line in order to hit your closing date on time. Good luck and let us know if you need any answers to any questions that come out of those last two conditions!

Jeff Onofrio
Director of Renovation Lending
AnnieMac Home Mortgage
Mobile 609-217-9409
jonofrio@annie-mac.com
www.annie-mac.com

Renovating and Rebuilding America - One Home at a Time
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0 votes 3 answers Share Flag
Sun Nov 13, 2011
Jake Bestic answered:
I wouldn't set my expectations very high for a quick close. FHA loans can be easier in some aspects, but the appraisal standards are much higher and depending on the condition of the house you're buying there can be several issues that may arise and will lengthen the process. On the other hand, I've seen a FHA loan close in 3 weeks. I would agree that 45 days is average, but I would plan on 60 days, especially if you're considering your rate lock period. ... more
0 votes 12 answers Share Flag
Wed Nov 2, 2011
Cynthia Freund answered:
Irritatingly long! The appraisal process has been a bit over-regulated in NJ, in my opinion. And it has become cumbersome. I can't comment on California, though. Best of luck, hang in there! ... more
0 votes 2 answers Share Flag
Wed Nov 2, 2011
Debra Shapiro answered:
Items being squared away could mean many things. It could mean a valuation issue.There could be could mold or wood rot, for example. There could be zoning issues that need to be worked out, etc. It really is impossible to say how long it would take depending on the issues needed to be resolved. Ask your Realtor or Mortgage professional for the items that are in question. Hope this was helpful. ... more
0 votes 4 answers Share Flag
Sat Aug 20, 2011
Michael answered:
i signed a paper saying i will get a copy of the appraisal report. the apprisal was done but the bank still has not got the report. i don't think the bank will lye to me about that. closing date is just around the corner. sept 22 and i still need to get insurance and other stuff before then. ... more
0 votes 4 answers Share Flag
Wed Dec 15, 2010
Marc Pollak answered:
Wow, that is a great problem to have. My experience with appraisers is that if they come up with a value greater than the contract price the use the contract price for the appraisal. Enjoy your good fortunes as this should make for a much easier closing for you. You may want to see if the bank will allow you to put less money down as you have gotten instant equity and may be able to keep more in your pocket at closing.

I'm curious though. Why wouldn't you want your bank to appraise the property before offering the loan? No bank will offer you a loan and without a contingency that it appraises for at least the contract price. Seems to me it is in your best interest to have the home appraised by the bank offering the loan so that you are in a position of knowledge and not just guessing at the value. As the other agents have said, the seller will not have access to the appraisal as you pay the bank for that service and they can only communicate that information to you.

Hope this was helpful and best of luck as it sounds like your deal is a homerun!!!
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0 votes 9 answers Share Flag
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