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08757 : Real Estate Advice

  • All25
  • Local Info0
  • Home Buying14
  • Home Selling2
  • Market Conditions2

Activity 101
Tue Nov 24, 2009
nancy cagno answered:
you can speak to your lender about a "short sale" which is when the mortgage company is willing to take less, or "short" of what they are owed. your best bet is to ask a realtor for a recent market analysis of homes that have closed in your area that are comparable to yours to have some idea of what the best list price would be. that way you can have some idea of what the loss when compared to what you owe on the property. the banks realize a commission needs to be paid on the short sales and they don't often penalize you for that. keep me posted if you need more info and good luck!!
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0 votes 14 answers Share Flag
Wed Apr 15, 2009
Elisa Dewees answered:
Crawl spaces are in lieu of a basement...they are a space under the home that allows access to pipes, electrical, etc. Sometimes crawl spaces have a dirt "floor", others are cement. It depended on the builder.

The foundation are the pilings and walls that hold up the house...the crawl space is the open area in between the foundation. Hope that makes sense. You can Google "Parts of a house" and look at diagrams.
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Tue Nov 24, 2009
nancy cagno answered:
hi Brianna

I would say the DOM are directly related to the price of the home. Those that are more aggressively priced are moving much quickly than those listed at the high end of the recommended range. Most recently I had a home listed at the low to mid level of the range I had advised and we had three offers in 3 days and it sold for more than list price.
Please let me know if there are any other questions I can assist you with!
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0 votes 7 answers Share Flag
Thu Jun 17, 2010
Diane Glander answered:
I can't answer for all agents. Foreclosures can be a lot of work and a real headache for both the agent and the buyers. The process is long and grueling. Just search under foreclosures here on Trulia to read some of the nightmare stories!
Agents still get commissions on short sales or foreclosures. Sometimes the bank tries to knock a percentage point or more off the contracted amount though.
If you would like, email me and I can send you out all the foreclosure listings on the Monmouth/Ocean MLS. Then, if you see something you like, you contact me and we go see it.
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0 votes 13 answers Share Flag
Wed Jun 17, 2009
James Flanagan answered:

That's an excellent question! Ocean County is home to a number of excellent Adult Communities. I've attached a link to our "Adult Community Whitepaper", which is a comprehensive report on most of the Adult Communities in Northern Ocean County:

Most of these communities are located within easy on/off access of the Garden State Parkway but you are still looking at an hour plus commute as NYC is 70 miles north of here. Please feel free to respond with any other questions.

Thank you,

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0 votes 14 answers Share Flag
Wed Oct 29, 2008
Other/Just Looking answered:
Lending answer:

It's difficult to say without knowing personal details of your situation. However, as a general rule, I would advise that a reverse mortgage may not be your best option, and probably the worst option to borrow funds for just a year or so.

First, reverse mortgages come with additional fees not found with other mortgages. Your FHA insurance premium will be 2% of the loan amount. You will also pay a servicing fee to the bank that can run several thousand dollars depending upon the loan amount. Bottom line: reverse mortgages are among the most expensive in closing costs. The shorter the term you hold the reverse mortgage the greater will be the cost of funds you borrowed.

Second, HUD just announced yesterday guidance to lenders on the new reverse mortgage purchase loan. Lenders will soon offer the new loan to customers. Essentially, you may use a reverse mortgage to purchase the home, but you will be required to make a down payment from your own funds (cash on hand or proceeds from the sale of your current home) equal to the difference between the amount of reverse mortgage you would qualify for on the new home and the purchase price. The down payment will be substantial, but if you qualify now for a reverse mortgage, using a reverse mortgage to buy your next home might be a better choice. Again, the costs of a reverse mortgage run significantly higher thana regular foward mortgage.

I recommend speaking with your bank about both options so you may obtain a precise estimate of your maximum claim amount, closing costs, and possibility of using the purchase option. Your bank may also suggest other, lower costs ways to finance your next purchase.

About 20% of the loans I write are reverse mortgages. Generally, I find about 2 out of 3 prospective customers would be better served by something other than a reverse (which means I'm referring them back to their banks). The closing costs (even with my el cheapo fee), negative amortization, and other concerns mean that reverse mortgages aren't for everyone... despite the fact that Robert Wagner is pitching them fast and earnestly on TV with the mansion and Jaguar in the background.

Note: HUD permits banks to charge up to 2% of your home's value as their fee. There is much, much less underwriting work in a reverse mortgage than a forward mortgage. Banks are collecting such enormous fees relative to the amount of work performed that HUD had to revise their rules to cap the fee. If you decide that a reverse mortgage is best for you... negotiate that fee aggressively.

Good luck!
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Wed Feb 13, 2013
Marc Paolella answered:
It is VERY risky to be an off-site landlord. New Jersey law drastically favors tenants and treats landlords like dirt. If you get a bad tenant, it will take you months and months and months to evict them if they choose not to leave.

Also if repairs need to be done and you are far away, you will be at the mercy of contractors who will have to coordinate those repairs with tenants who may or may not be available to stay home for the repairs. If they lose a day of work, it will come off the rent, in addition to the cost of the repair. And there WILL be repairs, even in a condo.

Furthermore, prices have not bottomed. So there is market risk as well.

I wouldn't do it.

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0 votes 6 answers Share Flag
Fri Sep 26, 2008
Lostski answered:
This will depend on many factors in the future. It will all come down to 2 things
1. Income
2. debts
These two will allow a mortgage person to evaluate your debt to income ratio which allows us to structure affordable options for you.
I can give you deeper insight email me at I work for a national Bank
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Mon Jun 3, 2013
John Jelinski answered:

I this market you have a outstanding selection throughout the Toms River area. Do you have any particular preferences?

John Jelinski
Crossroads Realty
609-713-3454 ... more
0 votes 11 answers Share Flag
Mon Jun 29, 2009
Stephen Chmielowiec answered:
There are listings everywhere. There are listings off of Whitesville Rd. I would need to know your price range to let you know how many listings there would be.

Stephen Chmielowiec
Gloria Nilson GMAC Real Estate
Brick,NJ 08724
(732) 604-9177 CELL
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0 votes 19 answers Share Flag
Thu May 8, 2008
John Jelinski answered:
Not to sound incredulous, but, yes alot of homes from individual residential to Senior, in all areas and price ranges. If you are a tad more specific, I would be more than happy to send you some listings. Let us, all of the Trulia Voice people, know of what you are interested in and we will send you the info.

Best wishes

John Jelinski
Crossroads Realty
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Sat Sep 25, 2010
Lanie Lucero answered:
I am not exactly sure where it is, based on the description on listings it is in East Dover .....
0 votes 6 answers Share Flag
Fri Nov 23, 2012
Alan May answered:
There is no standard commission. Agents and agencies charge what they feel they're worth (or what the market will bear). Agents and agencies are NOT allowed to collude and determine what IS and IS NOT a standard or normal commission, that would be against anti-trust laws.

Commissions are negotiable. That doesn't mean that the agent who quotes you 6% must negotiate a lower rate with you, it merely means that agents and agencies are empowered to charge their own rates, according to the services they offer, and the value they feel their services are worth.

There are many models to choose from... all the way from list-you-on-the-MLS-for-free services, to flat-fee services, discount agents/agencies, agents/agencies that reimburse a portion of their commission to you, and full service agents/agencies.

An abundance of choice.
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0 votes 67 answers Share Flag
Tue Apr 29, 2008
Lucy Korzelius answered:
Hi Janice,
Toms River has lots of choices. Please send me your criteria so that I can help narrow your search as best as I can. I would be very happy to provide you with whatever information that your need to make your best decision.
Best of Luck to you.
Lucy Korzelius, NJ licensed Real Estate Professional since 1992
732-684-1559 DIRECT
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Thu Feb 28, 2008
Diane Glander answered:
It all depends on the association rules. Some will allow an underaged buyer; however, one of the people residing in the home must be 55 or older. They do that in case an investor is buying and renting out the property. I heard that on new construction, the builder can sell a limited number of units/properties to an underaged buyer, but a Realtor cannot. Don't know if that is true or not, though. ... more
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Thu Nov 15, 2007
Marc J Williams SRES,e-PRO answered:
We have over 65 adult communities in Ocean county, i don't THINK we have a Radisson, but I will check. Try for MOST of the sites.
0 votes 3 answers Share Flag
Sun Oct 6, 2013
Diane Glander answered:
For the last 6 months it's 3.7% average as per Monmouty County MLS stats. IF you need more info, feel free to email me.
0 votes 4 answers Share Flag
Fri Oct 12, 2007
Diane Glander answered:
My broker is not specifically REO, but there are many REO listings in the Ocean County MLS. I work with several people looking to purchase REO/bank owned properties. If you would like me to set you up a profile for when these come on the market, email me at I can also set up your profile to alert you when estate homes come on the market for sale, which can also be a good investment opportunity ... more
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Wed Apr 23, 2008
Jeff B answered:
There has been no activity recently on the MLS but according to the tax records it sold back in August 2006.
0 votes 2 answers Share Flag
Tue Sep 28, 2010
Gregory Bain answered:
There is much more involved than just marking off a 25X75 section of land. How would the loss of the land effect the value of your neighbors property? How much would it devalue his parcell to cut it off and give it to you? A fair price to whom? ... more
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