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Market Conditions in New Brunswick : Real Estate Advice

  • All76
  • Local Info10
  • Home Buying28
  • Home Selling4
  • Market Conditions5

Activity 5
Fri May 2, 2014
Chiharu Iwasaki asked:
This question was asked from…
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Mon Jan 20, 2014
Moretti Team answered:
I am not sure what the question is that is posed. Please reach out to us at (908) 912-5298 or via email at Thank you.
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Sat Jan 18, 2014
Debra (Debbie) Rose answered:
You forgot to post a question!
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Sat Oct 27, 2012
Michael Adams answered:
Sudheer, I assume that you mean FHA. The Fedreal Housing Authority requires certain criteria to be met to approve a housing/condo development to be FHA approved. The fact that the Vue is not FHA apporved may simply be because they did not apply.

For a luxury condo development, there are very strong arguments for using a conventional mortgage. First of all, it is image. Only a certain level of income can afford to purchase one of thses condos; making ownership exclusive. Conventional rates are usually the lowest interest rates around for those who want to take out a new loan. Thirdly, using a conventional mortgage instead of buying into a property with an FHA loan and only 3.5 to 5 percent equity means starting with greater home equity. Many foreclosures happen(ed) because people bought homes with little or no equity.The market dropped and now they're unable to refinance, and selling doesn't raise enough cash to pay off their principal balance While paying a big down payment is hard, at least it doesn't leave borrowers walking on thin ice in fear of losing their homes if prices dip

The positives of a FHA mortgage is the relatively low down payment and credit scores required to purchase and the ability of being assumable.

I hope this helps. If you have more question, call, text or email me directly about central New Jersey real estate.

Best of luck to you,
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Fri Jan 2, 2009
Voices Member answered:
Eagles, You might want to give this a shot..
You type in the address and rent amount and it will do comparables in your area..
Also does comparables and tracks trends...

Hope this helps, Dunes
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