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Union City : Real Estate Advice

  • All173
  • Local Info11
  • Home Buying62
  • Home Selling5
  • Market Conditions5

Activity 92
Mon Nov 9, 2015
Mike Kubica answered:
A lease is not generally enforceable against health hazards. I would call the Board of Health and report the infestation. Before you do that, however, if you haven't already done so, you should contact your landlard , and advise him/her of the situation and see if he/she will get the problem taken care of - promptly. ... more
0 votes 6 answers Share Flag
Fri May 22, 2015
Annette Levinson answered:
The interest rate is what rate you are paying for your mortgage. The APR (annual interest rate) is the rate when you add the closing costs to the interest rate to see what you are really paying. This allows you to compare a rate with points to a rate without points. The APR is taken off the closing costs and rates so it cannot be negotiated. The points and lenders fee are the only things that can change. ... more
0 votes 9 answers Share Flag
Thu Oct 7, 2010
Sean Shallis answered:
James Chu. Of Bank Of America. By far the best in the industry! 201-725-2800 or james.chu@bankofamerica.com
0 votes 4 answers Share Flag
Sun Sep 26, 2010
Walter Burns answered:
Yes, pets are permitted at the Altessa in Union City.

Please let me know if you have any additional questions. I'll be happy to assist.

Sincerely,

--
Walter J. Burns
Realtor-Associate
Weichert Realtors
Hoboken, NJ
201-653-8488 Ext: 230
201-694-8946 Mobile
www.livingonthehudson.com
... more
0 votes 1 answer Share Flag
Tue Mar 14, 2017
Jennifer Blanchard answered:
Hello M. There is not max on the rent; but a landlord in NJ cannot require more than one and a half month rent for security deposit. They also can require one month rent up front when the lease is signed.

good luck!

jennifer
... more
0 votes 11 answers Share Flag
Tue Jan 3, 2012
Anna M Brocco answered:
Listen to your loan officer/lender and or ask your attorney the question--at least 51% of the units need to be owner occupied--see link for additional information.
http://www.fhainfo.com/condos.htm ... more
0 votes 1 answer Share Flag
Fri Jun 25, 2010
Deborah Madey answered:
Very difficult. Banks will rarely approve a short sale contract that contains a sale contingency. While it has bee done, it is....by far, the exception.
0 votes 6 answers Share Flag
Mon Mar 15, 2010
Walter Burns answered:
Kenny,

I recommend contacting the Union City Tax Assessor for an explaination on the taxes and how they are assessed.

Union City Tax Assessor
201-348-5725
http://www.ucnj.com

All the best in your home search,

--
Walter J. Burns
Realtor-Associate
Weichert Realtors
Hoboken, NJ
201-653-8488 Ext: 230
201-694-8946 Mobile
www.livingonthehudson.com
... more
0 votes 1 answer Share Flag
Tue Mar 2, 2010
Anna M Brocco answered:
Any local agent can help you--why not contact any realty office(s) and ask.
0 votes 1 answer Share Flag
Wed Apr 28, 2010
Weichert Realtors answered:
Kell Ross: Have a look: http://www.trulia.com/voices/Home_Buying/union_city_nj_real_estate_specialist_s_opinion_ne-64108

If you need help contact me at (908) 561-5400 or email to: ffesta@weichert.com. Regards, ... more
0 votes 2 answers Share Flag
Fri Feb 26, 2010
Weichert Realtors answered:
Gene: Name: Union City City of, Administrative Offices, Rent Control
Street:
Union City, nj 07087-
Phone: (201) 348-5734
Regards,
0 votes 2 answers Share Flag
Fri Feb 19, 2010
Adrienne Soltis answered:
Hello Teresa, having onsite parling lot in a condo development or any type of multi family building does add value to your property. If you have any other questions please feel free to contact me doirect dorect at 732-991-3117. I market many multi family properties so I would be more than happy to answer any questions. Have a great day! ... more
0 votes 1 answer Share Flag
Thu May 29, 2014
Linden Moe answered:
The Honest truth is that it is an amazing building, however, the financing will be tough based on the occupancy rate.

The pro's are for the amount of amentities, you cant get that price in any other luxury building in Hudson county.

The con's are its not as full ,so the financing will be tough , the good news is, it gives a tremendous amount
of leverage for a buyer to negotiate.

You can get more info in this and other luxury buildings at
http://www.NjVipBuyer.com

Good Luck with your search! Happy Home Hunting!
... more
0 votes 122 answers Share Flag
Tue Aug 25, 2009
Jennifer Blanchard answered:
Hello D-21, I think the answer depends also on the number of bathrooms as well as the price point and the "rentability" of the community. It's hard to tell what the resale value will be in 5-7 years, but typically real estate does pretty well when you consider the long-term. I'm curious about what you mean when you say "ALL the amenities you could ask for"... which community are you referring to in Union City. With more specifics I could do a market analysis for you - sale prices, tax assessments and rents in the area. Let me know how I can help. Regards, Jennifer ... more
0 votes 7 answers Share Flag
Thu Aug 6, 2009
Walter Burns answered:
My recommendation would be to check out the area both during the day and evening to see if it is an area you feel comfortable in. For specific crime reports and neighborhood information, i recommend contacting the Union City Police Department at 201-865-1111. They should be able to answer your questions about safety.

Please let me know if you have any additional questions. I'll be happy to assist.

Sincerely,

Walter J. Burns
Realtor-Associate
Weichert Realtors
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
201-694-8946 Mobile
201-653-4154 Fax
walterburns@gmail.com
www.livingonthehudson.com
... more
0 votes 2 answers Share Flag
Thu Jun 25, 2009
Walter Burns answered:
Cibe,

Cibe,

It sounds like you are looking for a legal 3 family with a "bonus" unit. That is NOT a legal 4 family and the mortgage company is going to have issue with counting the income from the "bonus" unit since it is not a legal apartment.

You may want to just look at legal 4 family units where all of the rental income can be used by your mortgage company.

Please let me know if you have any additional questions. I'll be happy to assist.

Sincerely,

Walter J. Burns
Realtor-Associate
Weichert Realtors
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
201-694-8946 Mobile
201-653-4154 Fax
walterburns@gmail.com
www.livingonthehudson.com
... more
0 votes 2 answers Share Flag
Sun Mar 29, 2009
Ruth Bonapace answered:
Jason,

Sounds like you are, quite frankly, being taken advantage of. I normally don't say this but consider the following:

1 -- FHA rates with NO discount points have been averaging 5%.

2 -- The Upfront Mortgage Insurance Premium is required by HUD. It is equal to 1.75% of the loan amount and is financed into your loan and is used to offset mortgage insurance. This is not a discount point.. So don't factor this into the equation or you will be comparing apples to oranges.

2 -- I never recommend paying discount points on an FHA loan (subject of a MUCH bigger conversation) But if you do, you can easily get 4.5% with 1.5 points - at most. Anything over that is gravy for the lender.

3 -- As for the "seller paying," this is sales talk. YOU are paying -- not only monthly, but when you sell or refinance your home you will owe $17,000 more. Is this acceptable to you?

Tell your lender to give you 5% tomorrow with no discount points (or 4.5 with 1 or 1.5 points if you prefer) or you will have your FHA case number transferred to another lender immediately. They will understand that you are on to them. You will prevail.

Good luck. If you want to discuss this further, just email.
Ruth Bonapace
mortgage specialist
Residential Home Funding
201 741 5269 cell
ruthbonapace@gmail.com
... more
0 votes 1 answer Share Flag
Thu Jul 9, 2009
Ruth Bonapace answered:
This does not directly answer your question, but it is something for ANYONE purchasing a 3 or 4 family home to consider. If you are putting less than 20 percent down you are most likely going to need an FHA mortgage. On - and 4-unit homes the FHA requires that 85% of the total rent roll AS DETERMINED BY THE APPRAISER based on documentable comparables, including the owner occupies unit, must be equal to or greater than the Principal and Interest, taxes, insurance and mortgage insurance. This is a hard and fast rule. So before deciding what to offer, do this calculation. ... more
0 votes 1 answer Share Flag
Wed May 19, 2010
Ruth Bonapace answered:
No one has a crystal ball on the market, but prices in Hudson County seem to have stabilized, base don my conversations with appraisers. If we are not at the bottom of the market, we are close. The bigger question to me is: Are you going to live in this house for a few years or is it a quick flip investment, like a stock or commodity. If it is to be your home, do you really want to live there? is it affordable and worth the money (right now, at this moment, in this market) If the answer is yes to those to questions, then move in, stop paying rent while you attempt to time the market. You will come out ahead. You may also be eligible for a nice tax credit.
Ruth Bonapace
mortgage specialist.
201 741 5259
... more
0 votes 4 answers Share Flag
Wed Nov 18, 2009
Corey Grushin answered:
1.You will need to go to an attorney to have the new deed prepared and signed. You would then need to bring it to the County Clerk's office to have it recorded (& pay the fee)
2. It doesn't trigger any taxes
3. No
4. No
5. The mortgage comapnay would only find out if they are tracking the loan or if you add him to the insurance policy. No they won't care.
... more
0 votes 9 answers Share Flag
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