Poll What is stopping you from buying a home.

I posted a poll on the left hand menu for about a two months and I only received two responses. Just to recap the poll question was: What is stopping you from buying a home? Answers: 1. Credit Issues 2. No $$ for downpayments/Closing Costs 3. Don't know where to start 4. Insecurity/Nervousness/Media Hype. I received one response for Credit Issues and another for Don't know where to start. I posted that poll so I can see what my readers want to read about. I might not have too many readers but I will still respond to the poll and compile information to post at a later date. Some readers might be thinking the answer but not select an answer for any given reasons. Which is okay with me. Thank you to the two people who responsed. I will come back at a later date and give some insight about those two choices.

I reposted the poll to give my readers the chance to answer. You can view it on the left hand menu.

Happy Thanksgiving!

I just wanted to take the time to wish everyone a Happy and Safe Thanksgiving!

Just Got Back from (Mini) Vacation

Hi All, I just got back from Florida. I was attending a real estate convention in Orlando from Thursday 6th to Wednesday 12th. I received a few phone calls while away, some of which I answered. For those that I didn't I apologize but I was in different sessions at the convention. While I wasn't at the convention I was enjoying the weather and enjoying the attractions. I have to catch up on all my work this weekend. So I will be sending emails and returning phone calls. I will probably post more pictures of my trip later on but for right now here's a picture of me next to the Universal Globe. I'm convinced that I gained some pounds while on vacation too, which I have to work on my diet plan this weekend as well.

Homeowners Mold Problem

News commercial comes on last night about a story the 9 Team was covering of a homeowner who is living in home that has a horrible mold problem. So it sparked my interest because in real estate we come across mold issues so I thought I would watch the story before I went to bed. Long and behold it is about my hometown of Newark.

My heart goes out to Freddy Ballester and his family and also the other Third St property owners that are suffering with this mold problem.

The facts I state here are solely from the news story viewed on TV and now online as I interpret them. These homeowners purchased these properties from the City of Newark over 6 years ago. Over the years the homes have developed the most horrible mold problem and have been contacting the City of Newark since December 2005 to help with the situation. According to a mold inspector the average range of spores is 50 to 3500 and in Mr. Ballester basement picked up a range of 84,400 spores. Spores I'm going to assume measures the amount of mold. That is beyond dangerously levels of mold. Mold is a very serious issue since it can cause health issues. And as the news report states that Mr. Ballester has 2 out of 3 asthmatic family members that live in the household. The report states that in May 2008 Cory Booker was confronted with this issue and he claimed not to have any knowledge of it and would research it. The report also states that 3 weeks ago (Mid-October), Mr. Ballester attended one of the cities meeting and sat down with Cory Booker and addressed it again and now present day still no repairs have been made...nothing.

Shame, Shame, Shame City of Newark and even bigger Shame to Cory Booker. Don't get me wrong I Love Newark. And I have personally meet Cory Booker at one of the cities event and believe that he has done this city a good change but I was so shocked that he would let this get so far and not solve the problem. He might have acknowledge it back in May of 2008 but 6 months later NOTHING...I am shaking my head.

To view Mr. Freddy Ballester's Story (& Third St. properties) first video clip of click here. The video clip that I viewed last night was the update video clip which they don't have on their website. You need to scroll down and select Homeowners Mold Problem.

NHA Owner Participant Information Systems

For those homeowners who are participants or who are interested in receiving information about the Housing Choice Voucher Program (Section 8) there will be a seminar discussing dealing w/ difficult tenants, there will be a Q&A open session and a general session for spanish speaking homeowners accepting section 8. Seminar will be held on December 11, 2008 and February 12, 2009 from 6-7:30pm. Held at 500 Broad St Nwk NJ 07102. Register in advance by calling 9732736261 to reserve your seat.

I WANT TO HEAR FROM YOU!

I want to hear from the people who read this blog...Tell me what you would like to know about the real estate market. Maybe you are "hanging on the fence" trying to decide if you should buy in this market but there are things holding you back, there's soooo many questions...ASK ME! I am trying to make this blog interactive but most importantly want to post articles that my readers WANT to read.

Simply click on the comment icon and type in your question. You can ask questions about any aspect of the real estate market; whether it be buying, selling, financing options, Investings, Losing your home to foreclosure, Renting, Property Management for Landlords, Steps on how to buy a home...the list can go on and on when it comes to real estate.

I would be more than happy to respond by posting my response.

Incentives to Buy In This Market

Think About This!

For those of you who are hanging on the fence trying to decide whether or not they want to purchase a home, NOW IS THE TIME TO BUY! Who said we are in a bad market. Don't believe the hype! House prices have had BIG declines which creates opportunity for those individuals (future homeowners) who couldn't afford to buy a house (back) in the "blooming" market just two-three years ago. Take advantage...the government is acting on the problem by creating these bills and now this $7500 First-time home buyer tax credit to create an incentive to buy, if the decline in market values wasn't enough. I specialize in helping First-Time HomeBuyers. I am also a tax preparer, so for those who want to read over the terms of the tax credit read it on my other blog at http://www.247notarytaxservices.blogspot.com/.

Connect with me to discuss financing options. FHA is the way right now. With a min 3% down you can get qualified for that new home. For those homes that need some updated, FHA 203K will allow up to $35,000 for repair cost. And then for tax season of 2008 you can claim the Homebuyer tax credit (if you qualify) and receive a (bigger) refund.

If you want to chat about this post, or have any questions feel free to reach out to me. You can signup to receive listings of homes on the market (free of charge) by email. Your privacy is extremely important and I donot sell your email address to any third party. Simply click on this link a new window will pop out and simply fill out the information .Please be as truthful as possible and as specific as possible so I can send the right match of homes that your are looking for.

You can also view my website (which needs some updating...sorry!) @ 973house.com But feel free to look around...you can email me with any questions or call me @ 973.392.3929.

Looking forward to working with you!

Rent Vs. Buy

Why Rent When you can buy?

Look at How Much You Are Spending On Rent!!!

RENT 3 YRS 10 YRS 15 YRS
$900 $32,400 $108,000 $162,000
$1,000 $35,000 $120,000 $180,000
$1,100 $39,600 $132,000 $198,000
$1,200 $43,200 $144,000 $216,000

Did You Know...
For the same amount of money that you are spending on rent you can be the owner of your own home? So Why waste money every month? We can make this dream come true, even if you have had credit problems in the past.

Other benefits of owning a home...TAX BENEFITS. When you rent you are only giving your landlord a bigger refund because he can expense everything (well almost everything) on his taxes. If you buy a single family home you can file schedule-A and expense your mortgage interest, annual real estate taxes, charitable donations and medical & dental expenses. If you buy a two family home, if you occupy one unit, you could claim any expenses related to the property from the percentage (by square footage) that is rented. For example: 55% of the home is rented and you pay all the utilities for the entire house which totals $3,600 then ($3600/55%=$1980), $1980 would be the amount claimed for utilities. Other expenses you can claim (besides utilities) for a multifamily home is advertising, repairs, cleaning/maintenance fees, insurance, management fees, supplies, taxes, mortgage interest and you can also depreciate the property.

AND now for 2008 you would be able to claim the $7500 First-Time HomeBuyer Tax Credit. You can read my tax blog to get more info on the Tax Credit. So as you can see it is very beneficial when it comes to taxes to own a home besides renting.

Prices have dropped. Don't think because the economy is suffering right now that it will be like this forever. Real estate is the best investment you can make. Records show that real estate almost always doubles in value if kept long-term. If you buy in this down market when the market turns around again you will be sitting on a pot of gold.

FHA has great loans that are government insured. They are fixed-rate programs that allow Not so perfect to qualify. And if you can't qualify on your own they allow more than one co-signer. The minimum you would have to put down on a FHA loan is 3% of the purchase price. But in reference to closing costs, depending on what type of home you decide to purchase, we can include the closing costs for the seller to pay so you don't have to pay them out of your pocket. I will have to go over the different types of homes (Re-sale, Short-Sale, & REO) in another posting.

Just to give a little background, I am also a tax preparer. I have been providing tax preparation since 2004. You can talk to your preferred tax preparer or CPA in reference to what type of deductions are allow when owning a home.

If you have any questions, click on the comments icon and post away!

**Information deemed reliable but not guaranteed

Custom Built Bayfront Home (Jersey Shore) Open House!

4 Bedrooms, 2 1/2 Baths bay front custom home built in 1998; 2274 Sq Ft with 3 levels.

Open House 10/5 & 10/12 from 11am to 4pm

Most Desirable street in Manasquan, Cul-de-sac. This home gives a new meaning to open layout, pride of ownership. Beautifully lit-stone paved driveway for 3 cars and a great feel of comfort at the shore. Sunken living room & family room area w/chestnut hardwood floors 30ft ceiling and a full wall of windows overlooking the lagoon. Home is equipped with 2 zoned a/c and heat. Open kitchen w/stainless steel top-line appliances and granite counters. New deck outside w/hot-tub, a new outside shower, outside lightening, and Jet Ski Dock. Great layout in Master suite w/ Jacuzzi, double sinks & balcony.

It is truly a fantastic home and a must-see. 9 Captains ct. Manasquan, NJ 08736

Call for more information Amanda M. Rodriguez (973) 392-3929 OR Visit http://amandamrodriguez.point2agent.com/Listing/ViewListingDetailsAuthenticated.aspx?preview=true&listingid=2012960

Exit Elite Realty Group*Each office independently owned & operated

Hope Starts With Us!

Making Strides Against Breast Cancer, Sunday October 19, 2008
@ Military Park in Newark, NJ

Join my in my efforts to volunteer and donate my time to a great cause. My family and I have faithfully been apart of this event for 6 years in loving memory of my aunt, Carmen Rodriguez. My aunt suffered by the hands of breast cancer in October of 2001. We watched her battle it out and we walk/donate to make a difference, to let her know that we remember, we love her, and think about her everyday.

I believe that hope for a world without breast cancer starts with me. That’s why I donate & volunteer in the American Cancer Society Making Strides Against Breast Cancer event. Not only is this my opportunity to join my community to fight back against breast cancer, it is a way to inspire hope by raising funds and awareness to help those facing the disease and save more lives. And you can be a part of it, too.

I have signed up to walk and hope you will join me in my effort by signing up to join my team or make a donation in support of my participation. Hope starts with us.

Visit My Personal Page and Show your support by donating! Every dollar counts!


Join My Team "La Familia" to show your support and walk!

In Loving Memory Of Carmen Rodriguez

What is a Short Sales?

Have you heard the term Short Sale or Pre-Foreclosure lately. This post goes over a few down-sides and up-sides to buying a Short-Sale Property.

Short Sales is becoming very popular and very common. Out of 5 listings on the market at least 3 will be short sales. So What is a Short Sale you Ask?

A Short Sale (aka Pre-Foreclosure) is when the 1st trust deed lender agrees to reduce the loan balance enough to get the property sold to avoid the foreclosure process to the seller. The advantage to the current homeowner is that they will get to stay at the property until closing and they don't have the foreclosure reported on their credit report.

Why are Short Sales great property to consider purchasing? Most likely there will be either homeowners or tenants still living at the property. Which means there is a better chance that the property has been kept in okay or good condition. With Foreclosed properties, it is more at risk of vandalism.

The Down-Sided to a Short Sale...THEY TAKE FOREVER FOR THE LENDER TO APPROVE. Short-Sales can vary from anywhere to 3 months to 6 months+ to be approved in order to proceed with the ordinary process of buying a home. So BUYERS if you are in a rush to find a home a short sale might not be the property type you are looking for. Also another Down-Sided (In most cases) the Sellers Lender will not negotiate any repair costs for the property. Therefore, The property is being sold AS-IS. You can scratch closings costs or down payment assistance out of the question too.

You might be asking why at this point...Well the Sellers Lender is already taking a loss on the property. The sellers at the very minimum have not paid 3 mos. of mortgage, the lender will take a loss for the difference of what the short sale is approved for (example: Seller owes $350,000 on mortgage and short sale approved for $300,000=$50,000 LOSS), and they have to pay attorney fees and any other fees associated with selling the property. Therefore, the chances of them paying for any closing costs or downpayment assistance is slim to none.

So what's the up-side of these short sales. Well the up-side is that you get a property that is in most cases in move-in condition at a discounted price. Your appraisal inspection will most likely be more than what you have offered anyway so you already have good equity in this property. If you have the time and the money to make a downpayment and pay for your own closing costs it might be a good deal for.

If you are interested in viewing any Short Sales (aka pre-foreclosures), I will be more than happy to assist you in the searching process. You can contact me at: (973) 392-3929 or email me Visit my website @ http://www.973house.com/

***I am not an attorney and cannot provide legal or tax advice**