Wednesday, November 24, 2010
Thursday, November 18, 2010
According to a November report, as reported through HousingWire.com, one option excludes citizens from deducting interest payments on second residences, home equity loans or mortgages over $500,000.Why this is a BAD idea!
Steve Harney and his Crew over at Keeping Current Matters summed it up best:
1. Homeownership is a Major Part of the ‘American Dream’
It has been proven that homeownership is critically important to American culture. A home is more than just a financial investment. It is a parents’ investment in their children. It is a family’s investment in their community. It is the people’s investment in America. With housing attempting to recover from its most trying time, it seems ludicrous to remove one of the most enticing reasons to own a home.
2. This Could Lead to another Wave of Foreclosures
Even if we just look at this from a purely financial perspective, it makes no sense. There are thousands of families struggling to pay their mortgage every month. Many of these homes are in a negative equity situation. Many in this situation have already decided to strategically ‘walk-away’ from their mortgage obligation. Others are sacrificing in different areas of their families’ lives in order to continue to pay their mortgage. Taking away the mortgage tax deduction could be the straw that either financially or emotionally breaks that camel’s back. How many new foreclosures will be created? How will that impact the values of neighboring properties? This makes no sense financially.
What can WE do as Home-Owners, Prospective Home-Owners and Real Estate Practitioners in Ocean County, NJ? WE CAN RAISE OUR VOICE AND JUST SAY "NO" TO THE "O"!
Tuesday, November 16, 2010
Myths: The Earth Is Flat and Newspapers Sell Houses
Tuesday, November 9, 2010
Typically, this time of year (Nov & Dec), we hear the following statement from prospective Home-Sellers; "I'm going to wait until after the Holidays to put my home on the market".
Just what does "waiting until after the Holidays" actually COST a potential Home-Seller in Toms River, NJ? The answer lies in the historical data:
--Nov & Dec 2006; Toms River had almost 10.8 months of inventory available*
--Jan & Feb 2007; Toms River had almost 12.6 months of inventory available
--Nov & Dec 2007; Toms River had almost 10.9 months of inventory available
--Jan & Feb 2008; Toms River had almost 15 months of inventory available
--Nov & Dec 2008; Toms River had almost 12.3 months of inventory available
--Jan & Feb 2009; Toms River had almost 18.6 months of inventory available
--Nov & Dec 2009; Toms River had almost 10.5 months of inventory available
--Jan & Feb 2010; Toms River had almost 17.6 months of inventory available
*Months of available inventory = How long it would take to sell off the existing supply of homes if NO other homes were to come on the market.
Long story short; "waiting until after the Holidays" will COST you between 2 and 7 months on the market and we all know "time is money". So, if you want more money for your home, it behooves you to list your home in Toms River, NJ, today!
Thursday, November 4, 2010
If you plan to BUY a home in 2011:
-When do you plan on moving?
-Where do you plan to start your search?
-When do you plan on getting pre-approved for a mortgage?
-When do you plan on working with a real estate professional?
If you plan on SELLING a home in 2011:
-When do you plan on moving?
-Where do you plan on going?
-How do you plan on getting there?
-When do you plan on meeting with a real estate professional?
These are just a sample of the some of the questions you may need to ask yourselves now, in November, if you PLAN on buying, or selling, a home in Toms River, NJ, in 2011.
Here's more to consider: