This article is courtesy of my colleague, Matthew Northup from Arlington Capital

The “new” limits are in effect for case numbers issued from November 18^th of this year through September 30, 2012.

However, any borrowers that got a FHA case number between October 1, 2011 and November 17, 2011 must either abide by the lower limits available during that period of time, or wait 6 months from the case number issuance, and reapply for a loan under the “new rules.”

We had begged clients to get into a FHA deals pre-October 1, 2011, and are happy to let all know going forward through next September, 2012…the limits are once again higher!

This is really great news for people buying  (or refinancing) a home with a sliver of equity, lower credit scores, and higher ratios of debt-to-income.  It also permits up to a 6% seller contribution from a seller to a buyer for actual closing costs and escrows.

So, with no further ado, here are the “new” limits for FHA loan amounts in New Jersey, listed alphabetically by County;

Atlantic $453,750
Bergen $729,750
Burlington $420,000
Camden $420,000
Cape May $487,500
Cumberland $405,000
Essex $729,750
Gloucester $420,000
Hudson $729,750
Hunterdon $729,750
Mercer $440,000
Middlesex $729,750
Monmouth $729,750
Morris $729,750
Ocean $729,750
Passaic $729,750
Salem $420,000
Somerset $729,750
Sussex $729,750
Union 729,750
Warren $402,500

If you are a math whiz you can divide any of these limits above by 96.5% and know what the maximum purchase price is in each county with just 3.5% down.  So, say in Somerset County, NJ, the maximum loan amount is $729,750.  If you divide this number by .965%, you find that a home could be purchased for $756,217 in Somerset County with just 3.5% down ($26,467.)

Matthew Northup
Private Mortgage Banker
Arlington Capital
33 Witherspoon St,
Princeton, NJ 08542

O-(609) 921-3131 ext 1334
C-(908) 507-1642
Efax-(866) 331-2067
mnorthup@arlingtoncapital.com

The excitement of the holidays is here. And there are some fun event in Warren right now and coming up soon. Here is a snip it of the activities available for you and your family.

• The Wagner Farm Arboretum is having their holiday boutique. The boutique offers a wide variety of jewelry, artwork, fresh local honey, breads and baked goods. Or enjoy the other vendor merchandise like candles, stationary, clothing, pocketbooks. Stop in this weekend or over the next two weekends in December. Check out their website at http://www.wfafnj.org/events.html for more information on dates and times.

• Warren Township Seniors Holiday Party on December 7th, 2011 at 11:30 am at Forest Lodge. All Warren Seniors are welcome and encourage to come! Cost is $15 for all Warren Seniors and Friends from out of town $30 For more information about this event, check out the Warren Twp page at http://www.warrennj.org/

• Letters to Santa….Now thru December 16th. Warren Township Recreation Commission has been approved by Santa to gather mail from the Township children and deliver it to the North Pole. They will be accepting mail from Nov 22nd to December 16th. Letters should be dropped off at the red mailbox in front of the Municipal Building or sent to “Santa” Warren Twp. Recreation Commission at 46 Mountain Blvd, Warren, NJ 07059. Every child will receive a personalized letter from Santa, but after December 16th, Santa will be busy getting ready for the holiday and will not be able to answer any more letters. They ask that Mom and Dad, please be sure to include a return address.

• Mark your calendar for January…Yuletide Bonfire. 4th Annual Yuletide Bonfire Winter Festival is back! January 21st 2012 6-9pm behind the Municipal complex off Bardy Rd. under the pavilion. More to come….

I personally love Zillow for its marketing genius! They have created data that no other site has given directly to buyers and thus have become a valuable, “go to” site for buyer prospects. In turn, it has become a powerhouse with a huge audience. That is why advertise on this site quite heavily. My buyers from NYC to Warren Twp, or Basking Ridge and Bridgewater, are all looking at listings for sale here…they are looking at the taxes of a property over the past 5 years…they are looking at the price the seller of their dream house paid in 2005.

I asked a question today on my facebook page, www.facebook.com/judyweiniger, how many of my friends and subscribers actually believe and rely on the “zestimate” when looking at homes to buy or examining what your home may be worth in this market? I can tell you…most of my buyers look at it and believe in it. Many make offers based on what they see on Zillow.

An appraiser friend of mine, Paul Sobol from Sobol & Associates, Inc, explained “that as an appraiser I have serious concerns about sites like Zillow. I have found them to be misleading and inaccurate. As you know, there are so many variables that need to be taken into consideration when valuing real estate.”

He continues, “as marketing tool it is awesome. The problem that we have is that when people are refinancing their homes they rely on that data way too much.”

From my perspective as a real estate agent, Zillow is a fantastic lead generation machine for me. I  get numerous internet buyers as clients thru Zillow,  meaning, the buyers are on this site and using it. They like it. From the buyer perspective, this site gives valuable data that up until Zillow was introduced, the power of this data was solely in the real estate professionals hands.

But beware buyers…After really testing some of these numbers out with my listings and what they actually sold for, I think it would be a fabulous study, for Zillow or an independent, to show the internet community a report card on Zillow’s success or failure to predict the value. After a home is sold, how close was that “Zestimate”? After a home is appraised by a professional appraiser, how close was that “Zestimate” to the appraisers’ reality?

My personal opinion is that the “Zestimates” seem to be based more on the township’s assessed value and it is quite difficult, if not impossible, to value these homes consistently. And furthermore, the computer calculating that value, has never been inside my home to know what condition, upgrades and updates this homeowner has done compared to my neighbor.

Stay tuned…I think I am going to do that analysis and report back.

RE/MAX Ranks Highest in Customer Satisfaction in  2011 J.D. Power and Associates Study

DENVER,  CO – Results from the  J.D. Power and Associates 2011  Home
Buyer/Seller  Study recognize  RE/MAX for providing the highest overall
consumer  satisfaction  for both home buyers and home sellers. In last year’s
study, two different companies ranked the highest in each category, but this year
home buyers and sellers both rated RE/MAX the highest.
“It all comes down to professionalism and a commitment to a premier level of
customer service,” said RE/MAX Chairman and Co-Founder  Dave Liniger.
“Because  RE/MAX agents average  more experience and training than other
agents, they are better prepared to deal with home buyers and sellers in any kind
of market. And, consumer preferences tell the story . . .  nobody sells more real
estate than RE/MAX.”
This is the fourth annual study of  home buyer and seller satisfaction with the
largest national real estate companies, conducted by J.D. Power and Associates.
For the home buying experience,  three factors  were considered:
agent/salesperson, office and a variety of additional services. Four factors were
examined for the home-selling experience: agent/salesperson, marketing, office
and a variety of additional services.
Details from the study indicate that on a scale of 1,000, homebuyer respondents
ranked RE/MAX with a score of 805 and home sellers put RE/MAX on top at
791.  The  2011 study includes more than  4,200 evaluations from  3,680
respondents who bought or sold a home in the U.S.  between March 2010 and
April 2011.
                                                       =

11 Softwood Way, Warren, NJ 07059 is now for sale!

Open house on 9/11/2011, from 1-4pm.
CLIENTFULL

Beautiful brick front Colonial set on a level lot in highly desirable community called Greenwood Meadows.

3 car garage, Conservatory, 5 BR, 3.1 baths, circular driveway, 2 story family room, very spacious upgraded kitchen, hardwood floors in the living room, dining room, family room. Huge master bedroom suite and master bath with skylight and jacuzzi tub. Fantastic basement ready to finish, pre-plumbed and stairway to the garage.

Stop by and visit me.

You heard it hear first……………….
The famous Froh Heim Mansion in Far Hills is now for sale at the very aggressive price of $2,799,000. It adorns over 11 acres, a 7Br, 6.1 bath historical updated and renovated masterpiece plus barn with 2 apartments.

Call me or text me at 908-295-3913 cell for the inside scoop before it hits the market.

or email me at judy@weinigerhomes.com

If your house is for sale the chances are good that your realtor discussed curb appeal with you when placing the listing. This basically means how a person reacts to your property when they are driving by your home. The driver will assess the curb appeal your home offers. This includes all of the aesthetic qualities. The driver might like the landscaping, the painting scheme, and the structural integrity. The curb appeal might be so great it will cause the driver to make an appointment to see the inside of the home.
If your lawn needs mowing or, if there are weeds spread throughout the lawn, growing wild in planters, along with bushes that have not been pruned for ages then these will all distract from the curb appeal. If the paint on your house is peeling in a number of places, if the screen on your window is hanging half on-half off, or if there are electrical wires dangling from the roof to the ground then chances are the curb appeal of your home is greatly diminished. A homeowner must assess these distractions and realize how cheaply and quickly these problems can be remedied. Once remedied the curb appeal on your own will increase a great deal.
The initial curb appeal starts the moment the buyer begins to look at your home. Usually the landscaping is the first thing to catch someones eye. This is why a regular mowing of the lawn should be done. The lawn should look green and healthy. Any bare spot or discolored area should be re-sodded. The edges should be trimmed. Weed control should be in place. If the homeowner is not interested in doing this work then s/he should hire a professional lawn care person to make certain the landscaping is always looking at its best.
Also, try to make certain you maintain a symmetrical look. This means the door and windows appear balanced. Two identical light fixtures should frame the front door. Shutters around the windows should seem even and well-maintained. If you have decorative pieces they should be tasteful and selective. The curb appeal your home offers can possibly get an offer on your home.

There are some home improvement projects you can do that will automatically increase the value of your home. If you are putting your home on the market within the immediate you will use a different strategy then if you plan to put it for sale in the future. For example, if you have a bedroom that is dull and showing wear and tare, you can inexpensively purchase some paint and change the color in a short period of time. The improvement will most likely impress any future buyer.
You might reconsider completely remodeling your kitchen, if you plan for an immediate listing, as this can be a very expensive project. It might be a project that you will not get a return for your money immediately. However, if you plan to keep your home for several years then the remodel will increase the value of your home and pay you rewards in the future.
One inexpensive way to improve the value of your home is by using wall paneling. You can panel most any room in your house. If you install quality, real wood paneling this will cause an immediate increased value of your home. Another home improvement is to add an indoor wall fountain. This adds to the rooms decor. The moment a future buyer walks into the room they will be impressed when their eyes focus on the fountain.
If you have a screen door at your point of entry that is showing signs of wear replacing it can be a great investment while also adding value. Instead of a prospective buyer first being discouraged by an ugly screen door they will be impressed with a new door. You should also check your front yard. You might want to add rock, a tree, some shrubs, all inexpensively, that will add some great curb appeal to your home. You should also remove any plant that is near death. This detracts from the landscape. Add some flowers around the front yard. You can put some inexpensive pots, full of bright, colorful plants, on your front porch. You might also consider adding some hanging plants. First impressions are very important when you want to sale your home.

Let me help you buy and sell real estate in Warren NJ

Since I have been helping people buy and sell real estate in Warren NJ, I have found this to be a great town to be in. I have met the nicest people in my work. Working with families that are looking to sell their homes either for relocation or upgrading brings me great joy. Helping people to make Warren NJ real estate purchases that will become there permanent homes has been a great pleasure as well. I will continue to help the people of this great community buy and sell homes with confidence and ease.

As I continue to list Warren NJ homes for sale, I have the great honor of representing the people from the area. All of my home sellers have been pleasant to work with. It is with great pride that I work with these families to market and sell their home. I promise to continue selling homes with eagerness and a strong marketing plan. Most homes that are listed with my office sell rather quickly. I strive to meet the deadlines that my clients are wanting to achieve.

When I am working with a buyer, I listen intently to their needs. I do not spend needless hours showing homes that I know are not what they are looking for. I have an in depth conversation about their needs in a home. If having a large eat in kitchen is a must for them, I only show them houses that have that feature. If they have to have four bedrooms, then I only show them four bedroom homes. This helps people find the home that they want in the most expedient manner.

Whether it is the sale of your family home or the purchase of your first home, let me be your real estate agent. I promise to strive to meet your goals on a daily basis. I will work diligently for you. If I can assist you in your Warren NJ real estate selling or buying, please contact me so that we may go over your specific needs.

If you are looking to find a home in Warren, NJ this spring, you need to start looking now. Warren NJ real estate sells faster during this time of year. If this is your first home, you may want to start thinking about what you want in a home.

Kitchens are a big thing. What do you want? Are you really into cooking? Do you need lots of workspace? Or do you want to keep it small and simple so there is not much to keep up? Think about what kind of kitchen you want.

There are also a lot of choices in dining areas. Do you want to have a table in the kitchen? Do you want to have a formal dining area where it is reserved for special evenings with friends? Or would you rather save that space for an in-home office? Some more things to think about.

Next we come to bathrooms. There are a million different combinations to choice from. Try to chose your must haves and want to haves. Decide what features you just can’t live without. For some, it is a garden style tub. Others may want a stand up shower. If you are going to have a family, you will definitely want to consider having 2 full baths so that there is not a fight.

The choice is yours, it is going to be your home for years to come. Decide what you want and look until you find just the right home. Talk about it with your partner. Find something that you both can love for years so that you won’t have to repeat this process in the near future. Come see our friendly staff and we can make sure to show you the Warren NJ homes for sale that meet your needs.