Archive for November, 2008
New Jersey Mortgage Rates Plunge
November 29th, 2008 Categories: Buying a Home in NJ, NJ First Time Home Buyers, NJ Mortgage Update
Finally, some good news for New Jersey home buyers near the Midtown Direct Train line.
In a move to increase credit availability, the Federal Reserve and Federal Home Loan Banks announced that they would purchase up to $600 billion in Mortgage-Backed Securities (MBS), exciting news that sent interest rates for 30-year fixed-rate mortgages plummeting below 6.00% and near the lows for the year!
If you have been on the fence about buying or refinancing a home in a New Jersey community along or adjacent to the Midtown Direct Train line, now is the time to act.
Interest rates are extremely low and home prices in some areas are at 2003-2004 levels. Add to that recent declines in energy prices and lower consumer interest rates, and you have a great holiday recipe for success, but only if you give your favorite Midtown Direct realtor a call @ 973.650.4727.
Don’t wait until next week. Call today and we will help you get pre-approved. Rates have already been very volatile and this opportunity might not survive the holidays.
Falling prices are bringing out home buyers that have been waiting to buy near the Midtown Direct Train for the past twenty-four months. They are scooping up both bargains and hot properties.
This is the time for Great Home Buying Opportunities in New Jersey’s Essex, Morris & Union Counties.
 
Call Perri K. Feldman if you want to learn more about Midtown Direct real estate: South Orange, Maplewood, Millburn, Short Hills, Summit, Chatham, Madison, Morristown, Livingston and West Orange 973.650.4727 or email Perri@MidtownDirectHomes.com
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Millburn NJ Winter Coat Drive Dec 3rd
November 26th, 2008 Categories: Just Because..., Millburn & Short Hills Living
SHARE THE WARMTH…
From Head to ToeÂ
JOIN US
FOR AN EVENING OF GIVING & CAMARADERIE
WINTER SWEATER & COAT DRIVE
TO BENEFIT LOCAL NEW JERSEY FAMILIES
WEDNESDAY, DECEMBER 3, 2008
3 PM TO 7 PM
KITCHEN EXPRESSIONS
325 MILLBURN AVENUE
MILLBURN, NJ 07041
REFRESHMENTS WILL BE SERVED
TIME TO CLEAN OUT YOUR CLOSETS
GENTLY USED OR NEW ADULT AND CHILDREN
COATS
SWEATERS
SCARVES & MITTENS
SOCKS
BOOTS
COLLECTION BOXES WILL BE PLACED IN THE
KITCHEN EXPRESSION SHOWROOM FROM
MONDAY DECEMBER 1, 2008 TO FRIDAY DECEMBER 5, 2008
SPONSORED BY:
FOUR GALS FOR GOODNESS
FOR INFORMATION CONTACT:
PERRI K. FELDMAN - 973-650-4727
KC MALONEY - 973-255-7144
BETH NAPHTALI - 973-912-4440
ALYSSA SUTTON - 973-420-4106
Thousands of New Jersey adults and children need a new, warm coat each winter. Many are forced to make a choice between buying a winter coat and putting food on the table, or meeting other basic survival needs. We can’t ignore the headlines and wanted to create an event to teach our children the importance of sharing and lending a hand to those less fortunate than the residents of Millburn and Short Hills, NJ.
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South Orange: Judy Collins at SOPAC
November 24th, 2008 Categories: NJ Events, South Orange Living
Just got home from seeing Judy Collins at SOPAC (South Orange Performing Arts Center). What a wonderful performance. We were transported back in time. It was a memorable evening.
I have come to love SOPAC and all of the events they have to offer.
Upcoming events at SOPAC in South Orange, New Jersey:
December 5: The Roches
December 10: The Nutcracker New York Theatre Ballet
December 11: The Lettermen
December 12: Imani Winds
December 19: The Duprees
December 21: The Paper Bag Players
For more information visit SOPAC Now
If you want to learn more about South Orange, New Jersey call Perri @ 973.650.4727 or email Perri@MidtownDirectHomes.com.
Visit South Orange NJ Homes for current homes for sale.
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How NOT to Mess Up Your NJ Mortgage
November 17th, 2008 Categories: Buying a Home in NJ, NJ First Time Home Buyers, NJ Mortgage Update
Those last few days before closing on a new home in New Jersey can be nerve wracking. Â
I asked Tom Wragg (First Choice Bank) to put together this list for my first time home buyers in New Jersey:
From Contract to Close: How NOT to Mess Up Your NJ Mortgage
In this environment, it is important to adhere to the following guidelines in New Jersey in order for your mortgage company to maintain your mortgage until closing:Â
- Keep in Touch with your Mortgage Banker
- Make them aware of any significant changes in income, assets or employment
- You should be speaking with your Mortgage Banker at least once a week when you are in process
- Keep your Mortgage Banker informed
- Let them know everything so they can preserve your transaction
- Communication is the key to any successful relationship
- Don’t make any large deposits into the bank without telling your Mortgage Banker
- Gifts are OK as long as underwriting knows about it
- Tell your Mortgage Banker in advance if you plan to make any deposits that don’t match your standard cycles
- Keep Your Job
- Quitting your job or getting fired when you are trying to buy a house in NJ is a No-No
- Getting a new job in the same industry is generally OK
- You Must tell your Mortgage Banker immediately
- No Big Ticket Purchases That Will End Up on Your Credit Report
- Any automobile, second home, investment property or business investments should be run by your Mortgage Banker as this could effect the total amount of the mortgage you qualify for
- Make sure to tell your Mortgage Banker if you plan to buy something, with financing, during the mortgage process
- Sell Your Current Home Before Buying the Next One
- Make every effort to either sell or rent your current home as lenders are now adding contingencies for sale or rental of your current property before they will allow you to buy the next one
- If your sale falls through, if you cannot sell or if you cannot rent out the current property you MUST tell your Mortgage Banker
- Don’t Move
- If you are planning to move residences before you close on a mortgage you MUST tell your Mortgage Banker
 i.     An unannounced change in address is a red flag for mortgage companies and underwriters
ii.     If you are planning to move before you close you MUST tell your Mortgage Banker
- If you are planning to move residences before you close on a mortgage you MUST tell your Mortgage Banker
- Raises and Bonuses are OK
- If you get a raise or a bonus you MUST tell your Mortgage Banker
- Increased income is excellent and fantastic and can sometimes get you a higher loan amount in NJ or better your underwriting scenario
- Share this information with your Mortgage Banker
- Do Not Apply Elsewhere
- If you plan to apply for more than one mortgage you should tell your Mortgage Banker
- No one wants to work for nothing – making multiple applications without telling your Mortgage Banker is dishonest and selfish
- Apply with one lender and make it stick – don’t waste people’s time by deciding to go with another lender at the very last minute
- Shop for Homeowner’s Insurance
- Getting a good rate on Homeowner’s Insurance is a must
- Make sure you are comparing different quotes and different coverage levels depending on your needs
- Make sure you get a copy of the Declaration Page and the Paid Receipt to your Mortgage Banker
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The House Burned Down 24 Hours B4 Closing!!!
November 14th, 2008 Categories: Just Because..., NJ First Time Home Buyers
Everything was in place. We were soooo close…
The house had been on the market for only two weeks. It was in disrepair and a wonderful investment opportunity for my buyer clients. The home was moments away from foreclosure in a transitioning neighborhood with growth potential.
The buyers were able to pay cash for the property. No need to worry about current mortgage concerns.
The offer was accepted.
And then it hit the fan…or so I thought.
There were two sets of owners. Each with their own lawyer. A judge had to get involved to resolve their individual rights. Needless to say it was messy. My buyers held their breath.
The judge agreed to the sale.
The banks agreed to the sale.
The title search was clean.
Mortgage payoffs were in place.
Tax lien payoffs were in place.
Time of the essence was served.
Time of the essence was extended.
The seller found an apartment.
Final monies were transferred.
All parties agreed on place and time of closing.
Twenty-four hours to go…
The call came at 8am.
THE HOUSE BURNED DOWN
Fire engines took hours to get the house under control. Thankfully, noone was hurt.
There is nothing left.
You can’t make this stuff up!!!
Stay tuned…don’t know what tomorrow will bring.
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How to Set Up a Simple Home Network in Your New Jersey Home
November 12th, 2008 Categories: Buying a Home in NJ, Getting Your NJ Home In Order, NJ First Time Home Buyers
One of the first questions I am asked after homeowners close on their new home along the Midtown Direct Train line is “How do we set up our home network?” and “Who do you know that can help us out?”
Here are five tips to consider when setting up a simple home network:
Here are five tips to consider when setting up a simple home network:
1) Get wired-wireless networks are convenient, reasonably priced, and fairly easy to set up for basic operation. But they never work as reliably or as secure as a wired network. If it’s possible, run Ethernet cable to PCs, particularly desktop models that won’t move around.
2) Stay cheap-if you have multiple PCs to network or a laptop to move around the house, wireless might be the best option. But most people need not bother yet with the latest generation of wireless, the “N” generation (or 802.11n) routers. They cost at least twice as much as the older “G” generation (802.11g). Added speed is the primary benefit but isn’t needed unless a network is trying to push huge files around the house, such as high-definition TV. If someone’s doing that, they don’t need this primer. The N routers can cover more ground, so large homes might warrant the extra cost.
3) Secure your Wireless - many wireless networks get shared with neighbors and strangers because homeowners don’t make them secure. A nice gesture, perhaps, but unsafe. If a network is going wireless, Be warned that although you don’t think you have anything of value to be stolen, a hacker can use your Internet ramp to cause damage to a network, send out a virus, and many other harmful things and you will be the one questioned by authorities as it was your IP address used to do the damage. Secure your network, it’s not worth the trouble.
4) Backup your data - There is nothing worse than knowing your pc was working one moment and not knowing what happened the next. Then realizing your data has been lost forever. Your once in a lifetime pictures, $ well spent on music, word files from 3 years ago. Automated backup drives are very affordable and can be found at most computer stores. Just configure to backup every night at 3am and enjoy the peace of mind.
5) Lock it down-while a router can control who connects to a network, security software adds needed protection for any home network. Be sure your Virus Protection is running the current years software. Most Virus companies will allow you to renew, renew, renew - but why renew 2004 software when you can buy the new 2009 current virus fighting software for the same price.Â
As for who to call?
Lori A. Mason
SourceOne Solutions
908.272.2191
www.sourceone-solutions.com
lori@sourceone-solutions.com
Do you have any other questions about homes along the Midtown Direct Train line? Call Perri K. Feldman @ 973.650.4727
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New Eyes for the Needy in Short Hills
November 12th, 2008 Categories: Just Because..., Millburn & Short Hills Living
New Eyes for the Needy in Short Hills, New Jersey celebrates its 75th Anniversary this year. It is a wonderful non profit organization that purchases new prescription glasses for poor children and adults in the US and recycles donated glasses for distribution for people in need throughout the world.
ABC highlighted New Eyes for the Needy this past weekend with questions answered by Susan Dyckman, the executive director and Clelia Biamonti, the president of the Board of Trustees.
New Eyes for the Needy has provided nearly a half-million people with the glasses they so desperately need in the US as well as 56 Countries including Argentina, Cambodia, Ghanna, Morocco, Nigeria and Uganda.
Funding comes primarily through individual donations, foundation grants, corporate sponsorships and special events. They also have a jewelry and gift-ware re-sale showroom at their facility in Short Hills. Fabulous Finds is open Thursday afternoons and certain Saturdays during the school year and is completely volunteer run. The showroom contains estate and costume jewelry, watches, silver, crystal, china and gift-ware - all available at bargain prices because the merchandise is all donated to New Eyes for re-sale.
You can help New Eyes for the Needy by making a cash donation, donating your used eyeglasses, hearing aids, jewelry and gift-ware. A gift of just $60 will buy the glasses that can turn someone’s life around.
Donors can give right on New Eyes website, www.neweyesfortheneedy.org.
New Eyes for the Needy
549 Millburn Avenue, Short Hills, NJ 07078
973-376-4903
Want to learn more about Short Hills? Call Perri K. Feldman @ 973.650.4727 or visit www.MidtownDirectHomes.com.
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