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Home Buying in Irvington : Real Estate Advice

  • All63
  • Local Info8
  • Home Buying17
  • Home Selling2
  • Market Conditions1

Activity 15
Fri Jul 29, 2016
Rahzhak Mizhauni answered:
Thinking:

How much did the Seller pay for it?
How much did you (Buyer) pay for it?
How much was it assessed for during the time you paid for it vs current assessment ?
What was the market value then and what is the Market value today?
How much do you owe (outstanding amount borrowed)on your mortgage?
What is your credit rate?

By answering the above questions will make you a better buyer.

Special note: Know the purchase history of the home, before you purchase it.
It is public information. And compare the Market value(s).

You will be lucky to get a credit line of $ needed.

Example:
Home's current appraised value?
Questionable % of appraised value x that %
Amount you owe on mortgage?
Questionable % of home's value minus amount owed

Quick answer:
Borrowing 100% of your equity ? Will not happen.
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Fri Jul 29, 2016
Rahzhak Mizhauni answered:
Out of pocket costs:
Home Inspection, EMD
Appraisal
Amounts due at closing /remainder of the down payment, closing costs, and pre-paid items....

Ask your mortgage lender, agent, or attorney. READ, READ, AND ASK Questions...

Every purchase situation is different. "That is the run down". Good luck.
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0 votes 1 answer Share Flag
Fri Jul 29, 2016
Rahzhak Mizhauni answered:
You will have to spend some quality time in Irvington, NJ neighborhoods.

Contact the Mayor or his staff (elected officials) for answers, and make one or more of his public meetings and ask his voters (constituents) that question.

Quick answer: visit fhagovernmentloans.org or make a few visits to your local banks (lenders, brokers) and inquire about their owned listed properties in Irvington, NJ and flag safe locations.

Good luck. Irvington, NJ is not what it use to be.
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0 votes 1 answer Share Flag
Tue Dec 9, 2014
Erik Ramos answered:
Hi,

I am a Licensed Realtor In Nj and can assist you with 2 Family Properties In Irvington. I actually even just put one on the market right now. Listed below is my contact information and I would not mind answering all your questions.


Sincerely
Erik Ramos


Legacy Realty Group
"Let Us Build Your Legacy"
#732 407 5809
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Tue Sep 23, 2014
Heartofjackie answered:
Hello folks. I am writing from Canada so I am not sure if the sq. ft. price is calculated the same there. We have been in the residential custom home market for 28 years. When the sq. ft. price first became very popular was in the days of building what we fondly referred to as a "BC Box" A basic rectangle with either two or three bedrooms ups, one bathroom up and family room and secondary bedrooms and bathroom down. A split entry. Very basic. The consumer didn't have the huge variety of choices for finish etc. that we do now so really it was pretty realistic. Now... not so much. Home come in many shapes, size, variables in roof design affecting trusses, more stringent building code, and the list goes on. Personally in our company we dislike the use of the sq. ft. price, here is why. Each builder will consider in his or her sq. ft. price what they feel should be included, there is no industry standard. For some (like ourselves) include the driveways, sidewalks, excavation, bascially everything to get you from excavation to turn key into a newly built clean home. The definition for the homeowner is not always the same as the builder you speak to. It is VERY important when questioning someone regarding a sq. ft. price to find out what is included within that price. Clarity and transparency is huge when having someone build you a home. Make sure that you are not only using a sq. ft. price to choose a builder, be sure to use your senses when interviewing builders. Gut feeling as to how you feel you could work with this individual is a greater guide than the sq. ft. price is. If you feel the builder is being open and honest with you and will talk through the process with you, then you know your new Home will be handled the same way. You will be financially and emotionally "married" to that company for 5 months or so while you build, so be sure there is trust and a sense of assurance that you and your money are in good hands. ... more
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Thu Mar 13, 2014
Ray Stevens answered:
You need a minimum of a 620.


A Personal Introduction:

I am a branch manager for GSF Mortgage Corp and have 15 year’s experience in the business. I am licensed in New Jersey, Virginia and Florida. I operate out of Cape Coral, Florida. I am also a top-rated Zillow.com and Trulia.com lender. It was built by being 100% honest with clients while focusing on fast responses to emails and phone calls

GSF has received numerous awards and is rated A+ by the Better Business Bureau. We are also a Direct Lender and Seller/Servicer for Fannie Mae, Freddie Mac and Ginnie Mae. We lend our own money and everything stays in house. With our many underwriters, we can easily close your purchase or refi in about 2 weeks.

Please call or email me anytime.

Sincerely,


Ray R. Stevens
GSF Mortgage Corporation
Branch Manager
Branch NMLS #1122003

NMLS #177825
Office: 239-471-7971
RStevens@GoGSF.com
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Wed May 29, 2013
Andrew Tisellano answered:
Hi Robbin

Speak to a realtor that can team up with the right attorney to cover all your options and find out the best plan of action quickly. Bankruptcy should be your last resort. List and sell your is usually better and can buy you time. Contact me as I have experience in the Newark area with short sales ... more
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Fri May 24, 2013
Carmen Hill answered:
There are govt loan programs if you purchase 2 - 4 units and you intend to occupy one of the units.
The loan can include the purchase and the rehab costs. FHA 203k and Home Path.
0 votes 5 answers Share Flag
Wed May 1, 2013
Gary Torretti answered:
Hello Eunice
This is not a short sale, the asking price is $319,000 and the heating system is radiator steam fueled by natural gas.
Anymore question
Please call me at 973-568-3703

Thanks
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Sat Nov 10, 2012
Rahzhak Mizhauni answered:
Sat Nov 10, 2012
Rahzhak Mizhauni answered:
First you file a F.O.I.A. " Freedom of Information act." File it with your taxing board. (Township, city, county or state) The question you ask is; "Requesting to see the records of property that is now or in the past that have received tax abatement. Resolve, by law they have to give you the information.
Why would you contact a Realtor for this information? Take the initiative. good luck.
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0 votes 3 answers Share Flag
Wed Aug 22, 2012
Alison Hillman answered:
Hi there-

Do you have a listing for us to see so that we can help you?

Thanks,
Ali, Community Manager
0 votes 1 answer Share Flag
Wed Apr 18, 2012
Robert Bruckner answered:
You can get the median sale price by checking out zillow or having a comparative market analysis done by a realtor (like me). Taxes vary by municipality. Closing costs for a buyer should not be more than 4% of the sale price. Please contact me if you need help with purchasing or selling a property. I can point you in the direction of some excellent mortgage programs where you do not need to pay mortgage insurance. However, there is an income cap of about $80,000 per year. I can be reached at RBruckner31@gmail.com. Robert Bruckner Coldwell Banker ... more
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Wed Apr 18, 2012
Robert Bruckner answered:
I think what you are asking is that you would like to know whether a home is worth a certain amount per square foot. If not, please correct me. Like any other method of determining value, the price per square foot will vary. The insurance company may look at the size of your home (square footage) and come up with a replacement cost based upon the size of the dwelling. The real estate appraiser may compare the size of your home by square footage to that of another property in your neighborhood and reason that your home since it is larger is worth more than the comparable home. In both these instances, the value of the property may be different. A home is only worth what a home buyer is willing to pay for it. In pricing a home, or deciding how much to offer, it is a good idea to look at the size of the home relative to the other homes in the area. However, there are a lot of other factors to consider such as the condition, specific location, amenities, heating system, parking, etc. that determine value.

If you are thinking of buying or selling a home and need more information, please feel free to contact me via email at RBruckner31@gmail.com or by phone (973) 901-1900.

Robert Bruckner
Broker-Sales Associate
Coldwell Banker Residential Brokerage
Caldwell, New Jersey
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Mon Jul 14, 2008
Gina Chirico answered:
Dave,

Good questions. This is where your attorney will come into play. Typically its the buyer's attorney who makes the first contact through attorney review and basically rewrites the contract. Tell him all these issues upfront and he should take a direct approach as to a "backout" clause for the inspection issues to protect your interests - the sales contract will have the typical inspection clause in it (lines 257-270) .

In addition, specify to your attorney as well regarding the CO. I've been told that banks will usually cover the CO but I've not experienced that firsthand. A CO is required before closing and the closer it gets to the closing date...the higher the fees are especially for smoke/fire/carbon certificate (which are most likely the least of your problems should the property not be in good condition). If the town is requiring a lot of repairs and time isn't on your side with especially with the bank holding things us, sometimes you can get a temporary CO and your are allotted a certain amount of time to fix the repairs after closing (but make sure you fix them within that time and have the town come back to re-inspect).

Gina Chirico, Sales Associate/Realtor
Prudential New Jersey Properties
973-715-1158 cell
973-239-7700 ext 132
GinaChirico@PruNewJersey.com
... more
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