Hi Everyone,   It’s Joe Montenigro from REMAX Home Team with a short virtual tour about 1602 Lawncrest Lane in Cherrywood, Gloucester Township, NJ 08021.   INVESTORS….get over 10% ROI, download my analysis now…. Investment Analysis for 1602 Lawncrest Ln (16)

This short sale is Pre-approved at $85,000 ! which is a great bargain because the average list price in Cherrywood is $120,000 !! And the last 7 solds in Cherrywood were $109,000 for non-bank owned properties and $96,000 when you count the Bank owned properties which are often in really bad condition and sold as-is…. SO this one is a really good deal because it’s in pretty decent condition and it’s a great price ! Call or email me NOW for an appointment…. 856-374-2800 x106.

Thanks for Reading !
Joe Montenigro
REMAX Home Team

 Gloucester Twp NJ real estate Home Inspections.

A buyer should ask ONLY for things that if not done, they would back out of the purchase of the home. This is a unique and personal choice based on the circumstances…. and that’s the type of advice and guidance a good agent can give you because they’ve been there with you thru the whole process. 

Some buyers try to “get something” from the seller just because they think they can. Some Agents try to enhance their buyer’s bargain by “seeing what they can get” from the seller. I find both approaches distasteful, dishonest and synonymous with stealing.

The home inspection is designed to give the buyer a chance to back out of a deal if they discover a major problem and to give the seller an opportunity to resolve a major problem that’s just been discovered. The home inspection is NOT an opportunity to give the seller your laundry list of repairs or improvements that you want done! This is NOT an opportunity for you to enhance your bargain. This is NOT the time to address repair issues that you could/should have seen with your own eyes before you made your offer. This is NOT the time to cover your own lack of home repair experience, your fear of home repair uncertainty or your lack home repair dollars by trying to shift YOUR responsibilities to the seller. If you bargained for an inexpensive home that needs work, that’s what you should get. If that’s not really what you want or what you can handle, then you should back out of the purchase and find another home instead of trying to get something for nothing from the seller.

Remember, ONLY ask for the items you’re willing to back out over. That’s not to say those items will be “reasonable” or even acceptable to the seller, but you will know exactly where you stand on the purchase and you won’t have any regrets later if you get the house or not. Good Luck!

In a Monkey knife fight, I’m not so sure I could beat a monkey… they’re pretty wiley. In fact, I think they could show a houses better than most real estate agents…. I know they could figure out the keys and locks…. and if Monkeys could actually drive a car, they might beat a lot of agents. 

But being a good agent is really about giving good ADVICE ! That’s why it still bugs the SHIT out of me when people only want an agent to play like a monkey and unlock doors for them !! And just when my cynical inner voice is ready to condemn the masses, I get compliments like this from one of my sellers…..

I trust your judgment. On that note I can not thank you enough , you have gone above and beyond. When I went randomly searching for a realtor I had high expectations. You have exceeded them.

You understand the situation my sister and I are dealing with . You have not only lent your professional expertise but the personal touch for lack of a better word restores my faith that there are people like us still out there. Honest with a good values …AGAIN ..can’t thank you enough

JUST GREAT! (sarcasm) Someone actually WANTS what I have to OFFER…. Experience & Advice !!    Does this mean I have to be nice to people again!?

Williamstown, NJ Home for Sale, over 55 community, Sunny Estates

 Click to see the Virtual tour !   EASY Livin’ in Sunny Estates 55+ community in Williamstown on the border of Washington Twp, close to shopping, restaurants and the Home Depot.  Only 2 miles to AC Expressway and 12 miles to Philadelphia.   This clean 2BR 2Bth plus Den home has fresh white paint and easy care vinyl flooring thru out- great for scooters or allergies/asthma (carpets are optional).  The Kitchen has clean white cabinets, large island and eat in area plus extra storage/pantry cabinets.  There’s a large walk in closet and skylight in the bathroom.  Upgraded mini blinds are included, a storage shed and several ceiling fans too.   Relax on your expanded front porch and maintenance free exterior and don’t worry about paying TAXES, your lot lease payment includes property taxes, water and sewer bill.  Become a part of this meticulous community!  Call Joe Montenigro at REMAX Home Team TODAY… 856-374-2800 x106

Hi Everyone,   It’s Joe Montenigro from REMAX Home Team with a short video about 213 Queen Anne Dr, Williamstown and see what REALLY happens behind the scenes at an Open House !

Thanks for Reading !
Joe Montenigro
REMAX Home Team

Hi Everyone,   It’s Joe Montenigro from REMAX Home Team with a short video about 12 W 7th Ave, Runnemede, NJ 08078 and a few tips for first time home buyers who think “Waiting for the Bottom” of the real estate market is a good idea….. NOT !

ATTENTION:  As of 4-18-11, this home is available for RENT.   see below for details. UPDATE….. 5-10-11…..Sorry tenants, we found a buyer who loves this house and is ready to buy now…. the house is now off the market.

RENT or RENT TO OWN in Convenient Runnemede, 3-4BR, 2 Full Bath, living room, eat in Kitchen, unfinished basement. Very convenient to RT 295 and NJ Turnpike exit 3.  Less than 10 minutes to Deptford Mall, walk to super WaWa and other stores on the Black Horse Pike.    This home has brand new carpeting and brand new vinyl floor, the kitchen cabinets are brand new with granite counters and upgraded appliances.  Brand new six panel interior doors and ceramic tile in both remodeled bathrooms.  It’s in move in condition and I’l bet it’s nicer than 99% of rentals out there today.

The rent is $1450 per month with up to $300/month credit toward the purchase.  The security deposit is $2,175.00.   I would also consider a Lease Purchase or a 3 year lease….this is important if you want to keep your kids in the same schools or don’t feel like moving every other year!  We will require a credit check, however, we understand reasonable credit explanations.  There is no refrigerator and no washer/dryer but hookups are in the basement.  There is a gas range, gas heat, central air, gas hot water heater, public water and public sewer, and newer vinyl windows.   You’ll need to mow the grass, shovel the snow and do all maintenance and repairs on the house…..There is no maintenace man on call !  YOU are are the maintenance man        You’ll pay for gas, electric, water, and sewer for Runnemede and sewer for Camden county.       

Lease Option.  Many people ask how much of the rent can be applied to the purchase.   This is determined by how much YOUR mortgage company will allow…..some only allow 3% of the purchase price but some will allow up to 6% of the purchase price.  If you got a $300 per month rent credit for 24 months, you could have $7,200 for your closing costs on the purchase of the house, subject to the limits set by your mortgage company.   Rent credits are non-refundable nor transferable to another property.

Caution…..
#1 Some landlords will make the first year rent cheap, just to get you in, then raise the rent later possibly forcing you to move again.   I don’t do that.
#2.  Some landlords want to sell the home, expecting you to show it to prospective buyers and then, move out if they sell it!  I don’t do that either.
#3, Some landlords are inexperienced and a potential NIGHTMARE for you !!   If they’re a FIRST time landlord who simply can’t sell thier home, I would RUN, don’t walk, Run away from that rental.   

NONE of these apply to me.   I’ve been a landlord for over 20 years and I’m looking for a stable, long term tenant or lease purchase.

If you have any questions or would like to schedule a showing, please contact me at REMAX Home Team, office: 856-374-2800 x106, or email any questions that you have.  You can download my rental application here Rental Application (492).

Thanks for Reading !
Joe Montenigro
REMAX Home Team

PS: You can see more pictures of the bedrooms on this Virtual tour…..

Gloucester Twp homes for sale in South Jersey
Hobart Drive, Laurel Springs, NJ 08021  for sale.

Hi Everyone,   It’s Joe Montenigro from REMAX Home Team with a short video with some Before and After picts of my most recent rehab…..This one is sold already but if you know someone looking for a nice home in south jersey, share my website with them or call me with thier info.

Thanks for Reading !
Joe Montenigro
REMAX Home Team

Clementon homes for sale South Jersey
25 Tomlinson Ave, Clementon NJ 08021  for sale. View Larger Map

Hi Everyone,   It’s Joe Montenigro from REMAX Home Team with a short video about 25 Tomlinson Ave in Clementon NJ to show you a few things that you might not have seen on the still photos….. Mainly, what a GREAT location this property has !!   With all the Subdivisions in South Jersey, it’s nice to finally see a house that FEELS like it’s out in the woods but your really close to everything.    I guess it’s just the way the house sits on the lot that when you look out from the front porch it feels very private and it’s nice wooded setting.   So, hopefully the video helps show that a little better that the still pictures.

Thanks for Reading !
Joe Montenigro
REMAX Home Team

View Larger Map

I was talking with a real estate investor recently and he presented me with an unusual scenario, hypothetical I hope! I’ll change the names just to protect the innocent… so let’s just call this real estate investor, Mr T.

So Mr T is wondering this…. If he finds a homeowner in foreclosure with no chance of recovery and offers to buy the home for $1000 subject to the existing mortgage. He gets the deed and records it, then looks for a tenant or otherwise homeless person to rent the house to with no intention of bringing the mortgage current. Let’s assume for the sake of argument that the home seller and the tenant are fully aware of the situation and they’re ok with it…. although they’re probably idiots, but let’s not ruin our fun just yet.

He rents the house until the bank forecloses and then walks away. The bank will likely offer the tenant a renewal lease or cash for keys to move out. Everyone’s happy?

Maybe I’m having a brain fart right now, but I can’t think of an actual law that’s being broken….. Can you?? I know there’s fraud in there somewhere, I just can’t define it. What law is actually being broken and will this backfire on Mr T ?

I guess if I ask a dumb question I get a dumb answer….. like what did you think of the price? 

South Jersey Home Sellers

Almost every seller wants Feedback from the buyer after showings on their property. What they want is a honest and objective assessment of the property and what they can do to improve the saleability or if anything will entice the buyer to make a reasonable offer.

What we often GET instead of Feedback is a bit of Pre-offer negotiations with the buyer’s agent saying the property is overpriced !  So with the vast majority of responses saying the property is overpriced, I think I could be selling a $1 bill for 50 cents and they’d STILL say it’s overpriced.   So does that really help the buyer in the negotiations, IF they even make an offer?   I don’t think so.

Then if we do get the low offer, the agent explains all the reasons why the buyer doesn’t really like the property. Oh Really??!! Then why on earth are they making an offer ?? Now THAT’s really bad negotiationg !!

My first effort at making a funny real estate video about real estate agents…..hehehe.

…. or are you just wasting everyone’s time with an overpriced home?  

I don’t know why ANY home seller would put themselves thru the pain and agony of trying to sell in this market unless they REALLY REALLY want or need to sell. Well, I do know the answer but it just pissed me off a little bit.  

They overprice their home and waste the resources of their agent because its FREE !! They don’t pay a dime unless the house sells and they know it never will ! Why are you wasting everyone’s time ??

Ask them if they would be willing to pay a monthly fee until the house sells and watch how fast that For Sale sign comes off the lawn! Frankly, it would be better for everyone if they took that overpriced turkey off the market!

What are these listing agents thinking? Can’t you just say NO to an overpriced listing? Are you afraid to ask the tough questions to your sellers… like “why do really want to move?” or “what will you do if your house doesn’t sell?”. Not only should the seller’s pay a monthly fee, the AGENTS should have to pay a monthly fee too !! Maybe THEN we’d see some of them get out of the business !! Hey I can dream can’t I ?

South Jersey Real Estate

4 open houses over 4 weeks, I know it’s not a scientific study, but I already know the answer to the question of “Do open houses work?” 

Back in the day when I was a newbie, I did about 40 open houses a year and it was a good prospecting tool and to help build my database of potential buyers and even some sellers. Selling the house was almost secondary but they DID sell the home roughly once out 50 to 100 open houses…. yes that’s a paultry 1% to 2% success rate.

So this month, my four open houses panned out like this:

1. 5 neighbors, 1 prospect with a house to sell. In fairness, I DID invite the neighbors by putting flyers on their mailbox

2. No one came. Since this house is one of my flips, I installed 3 smoke detectors, hung the fire extinguisher, measured the windows for blinds and picked some weeds…. lots of fun.

3. 4 vistors, 3 can’t get a mortgage and 1 might qualify for $50k less than the asking price. Met some nice people, but not too productive.

4. 1 visitor who has a house to sell and they openly offered the fact that their house is overpriced and probably won’t sell….. nice. And one couple who was actually qualified and serious, but already had an offer on another home…. coincidentally that was my listing too

So, roughly 16 hours of time and energy, no solid leads for me or my sellers. But I did get to write this blog article

 Thanks for Reading…..

Joe

Let’s say that you own a home but want to move to a better home.   Most people start the process by looking for the new home first… and then it hits them…. how am i going to pay for this thing?!    For the sake of brevity, let’s say you don’t want to rent your current home and that you have some cash/savings for a down payment but not enough to buy the new house outright with no mortgage.   

So, if you want to buy the new home FIRST, you must qualify for the new mortgage while you still have a mortgage on your current home… that’s tough for most people.   Also, you run the risk of making two mortgage payments while waiting for your old house to sell… that can be a little scary because the potential for loss is almost unlimited.   The advantage of buying first is that you know exactly where your moving to, when your moving, the cost of the new house and best of all, you can move right away. 

On the other hand, if you don’t qualify for two mortgages at once, don’t have the cash for a down payment on the new house or if the risk of carrying two mortgage payment makes you nauseous, then Selling first is often the default choice.     The downside here is that you can’t really buy until you sell first and what if you can’t find something that you like?   It sounds crazy to even think about selling without knowing where your going, right?   It really is a leap of faith and the truth is you may have to find temporary housing if you can’t find something you like in a reasonable time frame….yes, that means moving twice, once into the temporary housing and again into your new home… not fun.    Although it’s a hassle, it’s a lot less risky than having two mortgage payments and you can minimize the possibility of having to move twice by carefully negotiating the terms and dates in your sales contracts.

Of course, this example is way over simplified.   Every one’s situation and tolerance for risk is slightly different which is why I ask a lot questions with new clients, getting to know them and their preferences so I can give them the best advice and guidance.    It’s helpful if the client has already given some thought to the issue.   Moving up can be tricky, but a little discussion and planning will be time well spent.   If you live in South Jersey and you have a specific question about your situation, post your comment below or email me directly, please include the property address.

Thanks for Reading!!
Joe

RENT or Rent to Own in Desirable Woodmill Pond section of Gloucester Twp, 3BR, 2.5 Bath, LR, DR, family room, laundry room, breakfast bar in Kitchen, one car garage with electric. This home has newer carpeting and vinyl floor, fresh paint and is in move-in condition. Excellent schools, very convenient to RT 42 into Phila, or the Lindenwold Hi Speed Line into Phila. Less than 10 minutes to Deptford Mall, walk to PNC Bank, Starbucks and K-Mart shopping plaza. There is a small, easy to care for fenced yard and the property backs up to a farm… nice !

It’s available August 1st. The rent is $1500 per month with up to $300/month credit toward the purchase. The security deposit is $2,250.00. Seller would also consider a Lease Purchase or a 3 year lease. . ..this is important if you want to keep your kids in the same schools or don’t feel like moving every other year! We will require a credit check, however, we understand reasonable credit explanations. There is a washer, dryer and refrigerator plus a built in microwave. There is an electric range, gas heat, central air, gas hot water heater, public water and public sewer. You’ll need to mow the grass, shovel the snow and do all maintenance and repairs on the house…..There is no maintenance man on call…. YOU are are the maintenance man You’ll pay for gas, electric, water, and sewer for Glo Twp ($41/quarter) and sewer for Camden county ($78/quarter).

Lease Option. Many people ask how much of the rent can be applied to the purchase. This is determined by how much YOUR mortgage company will allow. . …some only allow 3% of the purchase price but some will allow up to 6% of the purchase price. If you got a $300 per month rent credit for 24 months, you could have $7,200 for your closing costs on the purchase of the house, subject to the limits set by your mortgage company. Rent credits are non-refundable nor transferable to another property.

Caution. . … Some landlords will make the first year rent cheap, just to get you in, then raise the rent later possibly forcing you to move again. Some landlords want to sell the home and want you to show it to prospective buyers and then move out if they sell it! Some landlords are INEXPERIENCED and are BAD Landlords !! I wouldn’t rent from someone who is ONLY renting because they can’t sell their property. NONE of these apply to this house. We’re looking for a stable, long term tenant or lease purchase.
If you have any questions, please contact me, Joe Montenigro, REMAX Home Team, office: 856-374-2800×106, or email any questions that you may have to joe “at” hometeamNJ.com   You should download my Free rental application here: http://hometeamnj.com/blog/wp-content/plugins/download-monitor/download.php?id=4 You’ll need Adobe acrobat to open this PDF file.

FIRST…. watch the virtual tour
SECOND…down load the rental application
THIRD…. drive by the property to make sure you like the area
FOURTH…. fill in the application and fax it to my personal fax number, it’s on the application AND there’s NO charge to do this.   I require it before spending time showing the property.
FIFTH….call me with any questions and to set up a time to see the property… Ask for Joe, 856-374-2800 x106.

South Jersey Lease Purchase Homes 

It seems to me that people get caught up in looking for a lease purchase because they think that it’s somehow better than renting…. in most cases, and this is just my opinion,  it’s NOT.    Maybe it makes them “feel” better than renting?

1. Myth Buster 1…..The truth is that if you don’t clean up your credit so you can get a mortgage your wonderful Lease Purchase ends up being aregular old rental and if you don’t pay the rent, you get regular old evicted.
2. Myth Buster 2….. your rent CAN NOT get applied 100% to the purchase price because the lender that you use to get a mortgage to buy the house is only going to let the seller credit you amounts that you pay over and above the fair market rent for the property, as determined by their appraiser at the time of the purchase.
3. Myth Buster 3…..it makes more common sense to find an affordable rental in a good location with a Landlord who wants to RENT long term(and not pressure you to buy) and then you can take your time to fix your mortgage qualifying problem(s).   THEN once you can get a mortgage there are LOTS of houses to choose from and you won’t be limited to only lease purchase homes.

The other problem I see in the market today is sellers who can’t sell thier property, decide to rent or lease purchase without knowing all the responsibilities of being a landlord.    It’s not easy being a landlord and most home sellers don’t know what they don’t know….this creates all kinds of tenant headaches and potential disputes…. maybe I’ll cover that in the next blog article      In the mean time, see below my current list of affordable rental homes in South Jersey that might be a good alternative to a lease purchase.

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

I’m sure I’ll think of several more common mistakes as soon as I’m done typing this    As a full time real estate broker in South Jersey, I see this kind of thing all the time as I list and sell homes.   So here they are, in no particular order….     

1. waiting for the “bottom”….the stats don’t come out for months after the fact and then you will be buying on the way UP… when everyone else is also buying… which means more competition from other buyers and less selection of homes to choose from.
2. don’t get prequalified for a mortgage First….   You will waste time and effort by not looking in the appropriate price range.   If you start too high, you won’t like the lower priced homes that you can afford.   If you start off too low, you will be discouraged that these homes aren’t as nice as you expected.    If it turns our you can’t qualify for a mortgage right now… well, shame on both of us for wasting each others time.
3. don’t find the right agent /good agent first….  Many buyers meet their agent by chance and after they’re involved and maybe found a house, they realize they’re not getting the advice and guidance that they need or expect.   Find the right agent FIRST.   We all have access to the same homes, so why not use the agent best suited for you!

See below is a constantly updated list of homes in the South Jersey area…. if you would like a list of homes that match YOUR price range and desired towns, just send me an email or you can search homes here on your own.

Joe Montenigro,   REMAX Home Team,    (856)374-2800

South Jersey Real Estate Listings in 08012

Showing properties 1 - 20 of 81. See more 08012 zip code real estate.
(all data current as of 2/7/2012)

1. $204,900 : 25 Valleybrook Ct, Blackwood
   
   2 beds, 2 full, 1 part baths

   Home size: 1,520 sq ft

   Lot size: 999 sq ft

   Listing with: Weichert Realtors-Cherry Hill
2. $239,900 : 69 La Costa Dr, Blackwood
   
   3 beds, 2 full, 1 part baths

   Home size: 1,914 sq ft

   Lot size: 2,736 sq ft

   Listing with: Prudential Fox & Roach Realtors-Haddonfield
3. $234,900 : 28 La Costa Dr, Blackwood
   
   3 beds, 2 full, 1 part baths

   Home size: 1,914 sq ft

   Lot size: 2,784 sq ft

   Listing with: Exit Realty-JP Rothermel
4. $259,000 : 18 Bethel Ln, Blackwood
   
   4 beds, 2 full, 1 part baths

   Home size: 2,200 sq ft

   Lot size: 9,375 sq ft

   Listing with: Harvest Realty
5. $265,000 : 25 Sofia Ct, Gloucester Twp
   
   4 beds, 2 full, 1 part baths

   Lot size: 10,000 sq ft

   Listing with: Century 21 Hearst Realty
6. $209,000 : 11 Sheffield Ln, Turnersville
   
   4 beds, 2 full, 1 part baths

   Home size: 1,900 sq ft

   Lot size: 8,432 sq ft

   Listing with: Weichert Realtors-Turnersville
7. $264,900 : 30 Brae Ct, Turnersville
   
   4 beds, 2 full, 1 part baths

   Home size: 2,109 sq ft

   Lot size: 15,050 sq ft

   Listing with: Century 21 CGW Realty
8. $209,000 : 233 Davistown Rd, Blackwood
   
   4 beds, 3 full baths

   Home size: 1,800 sq ft

   Lot size: 14,875 sq ft

   Listing with: Coldwell Banker Casa Bella Realtors
9. $249,900 : 104 Madison Ave, Turnersville
   
   4 beds, 2 full baths

   Lot size: 15,000 sq ft

   Listing with: Century 21 Hearst Realty
10. $255,000 : 1 Briar Ln, Blackwood
    
    5 beds, 2 full, 1 part baths

    Home size: 2,459 sq ft

    Lot size: 10,622 sq ft

    Listing with: Prudential Fox & Roach Realtors-Mount Laurel
11. $200,000 : 1 Tice Ave, Blackwood
    
    3 beds, 1 full bath

    Home size: 867 sq ft

    Lot size: 6,886 sq ft

    Listing with: Century 21 Rauh & Johns
12. $249,900 : 1 Polaris Rd, Turnersville
    
    4 beds, 2 full, 1 part baths

    Lot size: 16,250 sq ft

    Listing with: Weichert Realtors-Turnersville
13. $239,850 : 71 Bryant Rd, Turnersville
    
    4 beds, 2 full, 1 part baths

    Lot size: 10,500 sq ft

    Listing with: RE/MAX Connection-Turnersville
14. $250,000 : 13 Honeylocust Ct, Blackwood
    
    4 beds, 2 full, 1 part baths

    Home size: 1,982 sq ft

    Lot size: 18,125 sq ft

    Listing with: RE/MAX Home Team
15. $255,000 : 862 Somerdale Rd, Blackwood
    
    4 beds, 2 full, 1 part baths

    Home size: 2,835 sq ft

    Lot size: 42,253 sq ft

    Listing with: Weichert Realtors-Cherry Hill
16. $200,000 : 701 Whitman Dr, Turnersville
    
    4 beds, 2 full, 1 part baths

    Lot size: 10,414 sq ft

    Listing with: RE/MAX Connection-Turnersville
17. $210,000 : 20 Stonegate Ct, Blackwood
    
    4 beds, 2 full, 1 part baths

    Home size: 2,454 sq ft

    Lot size: 12,750 sq ft

    Listing with: Century 21 Hughes-Riggs Realty-Mullica Hill
18. $239,900 : 85 La Costa Dr, Blackwood
    
    3 beds, 2 full, 1 part baths

    Home size: 1,950 sq ft

    Lot size: 6,283 sq ft

    Listing with: RE/MAX Connection-Turnersville
19. $215,000 : 6 Bethel Ln, Blackwood
    
    4 beds, 2 full, 1 part baths

    Home size: 2,299 sq ft

    Lot size: 10,425 sq ft

    Listing with: RE/MAX Connection-Mantua
20. $239,900 : 61 Heather Rd, Turnersville
    
    4 beds, 1 full, 1 part baths

    Listing with: Weichert Realtors-Turnersville

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Some people are really crazy, but when buying a home in South Jersey I think many people might qualify as temporarily insane!   Everyone wants a good deal, but no one seems to know how to define it. If you don’t take the time to define it, how will you know when you got it?
   I remember the story of the world’s greatest archer, who was asked to shoot an arrow at the target while blindfolded !   He said, that was CRAZY…. how could he shoot a target that he couldn’t see !?    He was then asked, how could he shoot a target that he didn’t even HAVE ??!!

Here’s part 1 of the answer on how to find a good deal on a South Jersey home… perhaps you want to lie down on the couch, relax and close your eyes….. and just so you know, this part has nothing to do with money and everything to do with defining your needs and wants.   It might sound cliche, but money isn’t everything.    Think about your needs and wants and imagine the type of home you might find in the South Jersey real estate market.     How do you FEEL about this home?  Could you see yourself living there, waking up in the morning, having breakfast and looking out the window.  How do you feel arriving home from a hard day at work?  How would you feel about showing your new home to family members or friends?   Imagine how you might feel sitting in your home on a weekend afternoon with nothing in particular to do… does it feel right?  or not so much?   Write down some of these feelings and the desired feelings and what do you believe is making you feel that way.   Write them down so you can review them later…..  this is your TARGET.    This is what your looking for.

Call me, I’ll help you find a home to match your target.  

Joe Montenigro
REMAX Home Team
856-374-2800 x106

serving the South Jersey Real Estate market

This is real estate 101… for the first buyer’s in the crowd! 

Before I get started, let me first say how important first time buyers are to the south jersey real estate market and to ANY real estate market for that matter.   With out first time buyers, move up home sellers can’t move up.   It’s estimated that every time a first time home buyer purchases a home, there are FIVE subsequent transactions.   Bottom line… that FIRST home transaction sets off a chain reaction of home sales and economic activity…. well, it’s a beautiful thing   

So, when you’re ready to buy your first house, the first step is to get “pre-qualified” for a mortgage.   Some people mistakenly want to find the house they like first, THEN look for a mortgage.  Think about when you go to the supermarket, you don’t preview the milk and eggs first, THEN go back home to get your wallet or purse, right?!   That would be silly and a real waste of time….. It’s also a waste of time looking at homes before you’re prequalified for a mortgage.

What’s involved in getting prequalified?  What does it cost?    Generally, there is no charge.   Most lenders provides this service to the buyer to establish a working relationship so that when you actually buy your first home, you’ll consider them for your mortgage financing.    The prequalification can be done on the telephone or in person and you normally get a Letter of Prequalificaiton from the lender that you’ll use when presenting an offer to purchase to a home seller.     The lender normally asks questions related to your job history, your income, your monthly debt payments, your cash available for down payment and closing costs, and of course, your credit score.   If you have that information handy, the mortgage prequalification process will go quickly and smoothly.   

So are you ready !?   Download this form for questions you can ask the lender while shopping for a mortgage. Click here for Joe’s preferred lenders… I’ve found them to have competetive rates and great service.
Thanks for Reading!!

Joe

South Jersey Real Estate Broker exposes a hidden deal killer

Yes…it’s a killer and it’s quite hidden until you know exactly where to look for it.   So let’s say you’re selling your South Jersey home and of course the buyer has to get a mortgage, so it’s quite normal to give them a mortgage contingency clause in the contract that says if for some reason they can’t get a mortgage that they get their deposit back.   That’s fine.   But what if they need to get a loan for thier DOWN PAYMENT ??!!     For example, a home equity loan on thier current home that will be used as a down payment on the new home.   Hmmmm, so now, if they don’t get the home equity loan, they can’t get the mortgage to buy YOUR home and they effectively have ANOTHER back door out of the deal… not good for the seller who is sitting around with the house off the market thinking everything is just peachy, until the phone rings and we’re told the transaction is dead because of home equity loan that we never even knew about !

What’s the solution?   A diligent inquiry during the offer and negotiation stage and a well written contract to purchase.   Knowing the right questions to ask and recognizing the red flags that alert us to ask these questions is critical.   It’s all about the experience !  ….and why you need an experienced agent on your side, representing your best interests.   When hiring a real estate agent I recommend at least 10 years full time experience.   If you need a South Jersey Broker to help guide you, I’d love to interview for the job…call or email me now.

Thanks for Reading!
Joe Montenigro
REMAX Home Team