Buying Your First Piscataway Home in New Jersey

Is this a good time for first time home buyers to consider a Piscataway home in New Jersey? It's a familiar question with the economy in the state it is in. Here are a few reasons why a home is still a great investment for first time home buyers.

Pride of Ownership

This will never go away no matter what the economy is like. Owning your own home is the American dream for a reason. It just feels good to take care of a Piscataway home that's yours and yours alone.

Tax Incentives

Owning your own home is one of the best tax deductions. The new stimulus plan makes that tax incentive better than ever before. Not only can you deduct your interest payments on your tax forms this year and for every year during the life of your mortgage, the stimulus plan allows a huge homebuyer tax credit of $8,000 for homes purchased in 2009 by first time home buyers.

Your property taxes are deductible too. Many first time home buyers understand that they can deduct the mortgage payment interest but don't realize they can declare their property tax as well for an even bigger yearly deduction.

Equity

Yes, even now, you will begin to build equity with each year you're in your new home. Equity improves your credit worthiness and gives you options for loans in the future if you need them.

Take the first step toward buying a new home and contact me. I'll help you find the perfect place for you and your family. And, I'll help you get it at a great price.

Cathy Chaudemanche

When is it Time to List Your Home with a Metuchen Real Estate Agent in New Jersey?

Going it alone and listing your home as for sale by owner can be exciting at first, but there is a turning point where the prospect of losing money makes it necessary to bring in help. There are several reasons to change your plan and list your home with a Metuchen real estate agent in order to facilitate a sale.

Speed

If your property has been languishing on the market for more than three months, it is no longer fresh. People will avoid it simply because it hasn't sold. A Metuchen real estate agent can give your home wider exposure and get traffic moving through it again.

Knowledge

Fresh eyes on a project are helpful in any business endeavor. You can be too close to your home. You love it and see it in a positive light that can often overlook minor items that will kill a sale. Your Metuchen real estate agent can help you see the problems you didn't even know existed.

National Exposure

As a FSBO (for sale by owner) seller, you are not able to list your home on the official MLS (multiple listing service). That exposure alone can get much faster responses and sales. Additionally, a professional real estate agent markets your home on multiple websites which gives your home a virtual Open House 24 hours a day, 7 days a week.

An Earthly Advantage

Many FSBOs price their homes way over market for two reasons. First, they love their home and see certain aspects of their home as more valuable than they really are. Second, they don't have extensive knowledge of the real estate market nor do they have the ability to do current home price comparisons. You 'might' know what your neighbor's house sold for 6 months ago, but do you know what it is worth now? And even more important, do you know exactly how comparable your house is to that one? Your Metuchen real estate agent does.

If you would like more information on how a professional real estate agent can help you sell your home, please contact me now.

Cathy Chaudemanche

Can You Afford a New Edison Home in New Jersey? Learn to Budget

Many people go through life one paycheck to the next and never bother to figure out where their money is going. It's important to know where your money is going and what you can afford if you are thinking about buying a new Edison home.

Here's how to start up a monthly budget that will keep you in the know about where your money is running off to each month.

• Find a program you're comfortable using. Your computer probably came with a spreadsheet program. If you are not used to using one open it up and become familiar with the program. It's a great tool to use to create a budget. If by chance your computer doesn't have a spreadsheet program, you can use an online program like Budget Pulse, or other useful online budget systems such as Mvelopes.

• Enter your absolute monthly expenses such as car loans, utilities including cell phone bills, and credit card expenses.

• Enter your monthly bills that can vary such as food, gasoline, entertainment. These expenses can be changed to help improve your bottom line, but make sure you give them fair limits so you don't cut yourself short on necessities such as food or transportation costs.

• Make sure you figure in some savings for vacations and other unexpected expenses that may pop up throughout the year. Trimming your budget so severely that you have no extra money to cover you when something breaks down, or an extra bill comes in is a sure method for disaster and will make you new life in an Edison home miserable instead of the happy time it should be.

Once you realize where your money is going, it's easier to see if you are spending frivolously or strapped to your limits. It is the best way to determine if your dreams of a new Edison home are realistic or not.

If you have any questions about your ability to afford a new home, I can help. Contact me today.

Cathy Chaudemanche

Tips for First Time North Brunswick Home Buyers in New Jersey

Are you considering buying your first home? I'm sure you already know that now's an amazing time to buy your first home. You have the perfect combination of low interest rates, low North Brunswick home prices and President Obama's stimulus plan which gives you additional incentive to buy now.

To help make your first time North Brunswick home buying experience the best it can be, here are some tips:

1) Know What You Can Afford

It is easy to get carried away with what you want versus what you can actually afford. Start with reasonable expectations.

2) Decide Exactly What You Need

Consider your current family status and what your immediate future might hold, then decide on the number of bedrooms you require and the amenities you feel you can't do without. If you love to cook, a well-equipped and spacious kitchen will be important. If you eat out 90% of the time, it is wasted space.

3) Make Good Use of the Internet

If you're like millions of other Americans, you spend a lot of time online. Make use of the many available free programs and calculators to give you a better idea of what you can afford and what your mortgage payments will be. There are mortgage calculators that give you an instant idea of what each home you find will cost you monthly.

4) Don't Hesitate to Ask Questions

Call around to get insurance quotes so that you have a reasonable estimation of what to add to the total cost of your monthly mortgage. Check the information on the North Brunswick home properties you are interested in to find out what the taxes are. Add that amount to your total monthly mortgage cost too.

Buying your first North Brunswick home should be the thrill of a lifetime and with proper planning it can be.

If you'd like to work with a real estate agent who specializes in helping first time home buyers get their dream home at the best price in Middlesex County and Central Jersey contact me today.

Cathy Chaudemanche

Stimulus Isn’t Just for New Woodbridge Real Estate Buyers in New Jersey

All the talk is about how the President's stimulus plan helps out new and first time home buyers. The good news is that it also helps homeowners. You can get stimulus plan benefits from your existing Woodbridge real estate too. Add a little green living to your environment and you'll be pocketing some change at the end of the year from your income tax return.

Under the stimulus plan, both eco friendly new home purchases and eco friendly improvements on existing homes are tax deductible. Now's the time to make your home more energy efficient and get a break at the end of the year for your efforts.

Going green saves money, makes your living environment healthier, and improves the world we live in. To reap the benefits from the stimulus plan, you can make major home improvements such as adding solar power or moderate priced home improvements such as adding low flow water fixtures.

You need to make your home improvements soon to get the stimulus plan benefit. The plan only allows for the tax benefits through the year 2010. Why wait? Use this as motivation to get your projects started (and completed) now.

Here are a few additional eco friendly home improvements to consider for your Woodbridge real estate:

• Re-cover your roof: The color of your roof can make a big difference in how well your attic retains or refracts heat and cold.

• Install an energy efficient Energy Star furnace: Make sure it has a high SEER rating (seasonal energy efficient ratio).

With a little work and a reasonable investment, your Woodbridge real estate will not only pay you back in dividends for years to come, it could get you a great tax break.

Cathy Chaudemanche-

How To Add Value To Your Metuchen Real Estate in New Jersey

You may be wondering how to get the best price for your Metuchen real estate. Good preparation and a little hard work is the key to getting the most money when selling your home. Here are a few tried and true improvements you should make before you list your home.

• Revamp the exterior of your Metuchen real estate. Pretend that you're a potential buyer and take a critical look at the outside of your home. Could it use a new coat of paint? Perhaps the current paint scheme makes it look out-dated and old-fashioned. Painting and adding new light fixtures and railings can immediately improve your home's value.

• Look to the landscaping. Trim any trees or bushes that obscure the view of your home from the curb. Highlight the best view of your New Jersey home, making sure the lawn is mowed and any flowerbeds are neat and tidy.

• Update the home’s interior. A light neutral paint color will make your home look bigger and more inviting to a buyer. Remove unnecessary furniture to help open up the rooms. Take down any personal photos you have up. You want the buyer to be able to picture themselves living there.

• De-clutter and organize. Clear off every flat surface in your Metuchen home. Sort through all of your belongings. Pack away what you don’t use often; consider it pre-moving. Neatly stack and arrange your storage items, buyers prefer clean and orderly homes. You’ll want to remember to include the kitchen and bathrooms in the process. An entire house can be dismissed because of cluttered, out-dated kitchens and bathrooms.

• Do some light remodeling. The number one place that you’ll recoup your investment is the kitchen, followed closely by the bathroom. New kitchen cabinets, fixtures, and appliances can improve the value of your home quickly. In the bathroom, new tiling and fixtures can add a completely new dimension.

You can quickly improve the value of your Metuchen real estate by using these suggestions. Cathy C-

What Can Homeowners Remove From Iselin Real Estate In Foreclosure?

Iselin real estate in foreclosure is sometimes found stripped of all appliances and fixtures after the trustee’s sale. Some New Jersey property owners believe they have the right to remove everything but the walls of the house when they leave. The law states that anything that is not personal property, that is in fact an asset of the property, may not be removed.

Homeowners in foreclosure may be prosecuted for removing the following items:

• Most appliances that are on the property. This includes the stove, dishwasher and garbage disposal.

• The air conditioning unit and the furnace must stay on the property.

• Ceiling fans, light fixtures, and any electrical wiring.

• The plumbing and all the fixtures must stay in place. The sink, shower, toilets, and the cabinets may not be removed from the premises.

• Landscaping and fencing may not be removed before foreclosure. Built in pools and hot tubs must also stay on the property.

Homeowners are allowed to remove any personal property from Iselin real estate in foreclosure. In fact, in most cases they are required to remove any objects they brought into the house when they moved in. This includes the furniture and clothing they own. They are allowed to take dishes, pans and silverware as well as electronics like computers or stereo equipment. The new electronic thermostat they installed has to stay because it is now a fixture of the house.

The refrigerator is the appliance that is the exception to the "everything must stay" rule. Homeowners are allowed to take any portable fans and heaters that are in the house. A good rule of thumb is if homeowners have to use dollies or screwdrivers to take things with them, they may need to double check their right to the objects.

If you're looking to buy Central Jersey real estate, I can help you find your perfect home.

Cathy Chaudemanche

Improve Your Credit Score to Get a New North-Brunswick Condo in New Jersey

If you are sitting there shocked because you tried to buy a North-Brunswick condo and found out when you applied for a loan that your credit score 'bounced,' don't be discouraged. There are things you can do to improve your credit score in a hurry. While it's best if you work on cleaning up your credit long before you start looking for a home in New Jersey, in a pinch, making just a few changes can make a big difference.

Get the Reports

First, get your own copies of your credit report from the three major reporting bureaus. They will probably mirror each other but each one can have a few different items that you would miss if you only got one report. Plus, you will notice that each one has a slightly different judgment on your credit.

Check for Errors

Yes, credit reports can have errors in them; the people that report to them and the people that update your account are only human. Report any errors and include proof, if at all possible.

Check for Major Problems

If you have major dings on your reports that you can explain (such as missed payments because of a temporary job loss, hospitalization or caring for an elderly parent), write a letter explaining what happened. Take that letter with you when applying for a loan for your North Brunswick condo. A mortgage provider may consider giving you a loan as long as it looks like you have recovered from the problem and are back on track.

Pay Up

Or rather, pay down. Do as much as you can to pay off outstanding balances so that your debt to income ratio is lower. You don't have to pay everything off, but the lower your debt the better.

Doing just a few things can make a huge difference to your credit score and help you get the loan you need for your North Brunswick condo.

If you have any questions about what you can do to improve your credit score, give me a call today.

Cathy C-

Finding Defects in Newly Constructed North Brunswick Homes for Sale in New Jersey

According to the Better Business Bureau, contractor problems are one of the most common consumer complaints. With those kinds of statistics, buying newly constructed North Brunswick homes for sale calls for a knowledgeable individual. Here are a few things you can do to make sure your New Jersey contractor doesn't end up as your complaint:

Know What Your Warranties Cover

There are two types of warranties. One is called an express warranty, and is given to you by the contractor. Usually, this warranty lasts between one to ten years, with one year being the most common. It covers everything from cosmetic flaws to serious defects.

The second type of warranty varies depending on the state you live in. It's an implied warranty that lasts seven to ten years, stating that the residence has to be habitable. To have your defect covered by this warranty, you have to be able to prove that it's a health or safety hazard.

Find Real Defects

If you spot a defect, you need to find out whether it's an acceptable imperfection or a real defect. For instance, small cracks in the interior of new North Brunswick homes for sale are normal defects. The only cracks that need to be repaired are those longer than 3/16 of an inch, according to the National Association of Home Builders'® performance guidelines. In addition, hammer marks or nail pops only count if you can see them from more than six feet away.

Document Everything

Once you find a real defect, document everything. Take photos and make detailed notes. You may want to hire an independent inspector or structural engineer to give your house a full examination.

Buying new North Brunswick homes for sale can be enjoyable when you work with a REALTOR® like me who has the knowledge and experience to guide you through the process.

Cathy Chaudemanche

How to Find Edison Foreclosures in New Jersey

In today's real estate market, it's fairly easy to find Edison foreclosures, but what about finding good New Jersey foreclosures in a steady market? Whether the New Jersey market is strong or soft, here are a few tips on finding foreclosed houses:

1. Real Estate Signs

First and foremost, drive through your neighborhood and surrounding areas. Signs that say "Foreclosure," "Bank-Owned" or "Bank Repo" let you know they're Edison foreclosures. But your best bet, if you want to get a jump on other buyers and get the best price and terms, is to work with a professional real estate agent.

2. Government Agencies

Depending on the agency, you may have to have the services of a real estate agent to make a purchase offer. The requirements are posted at each site, along with more information. Some of these government agencies include Housing Urban Development (HUD), Fannie Mae, the Department of the Treasury (homes seized by the IRS) and the Small Business Association (SBA).

3. Bank Websites

Banks are an excellent place to get listings for Edison foreclosures, and several banks have those lists online. Some of the national mortgage lenders with online listings include Countrywide,

4. Auction Houses

Sometimes an auction house will sell as many as one hundred homes in a day. Although they often get higher prices because of bidder frenzy, you can find some decent deals in their inventory if you bid carefully. These auction houses include J.P. King, Williams and Williams, Bid4Assets, United Country Auction Services and Real Estate Disposition Corporation.

5. Web Foreclosure Companies

Foreclosure companies on the internet charge a fee for a list of foreclosed properties. They need to charge because it does take time and a lot of work to find and build accurate lists. Examples of internet foreclosure companies are Foreclosure.com and Realty Trac.

Cathy Chaudemanche

Is An Earnest Money Deposit On Iselin Real Estate (New Jersey) Really Necessary?

Your Iselin real estate agent may say that you must provide earnest money when making an offer for a home. It’s usually in the form of a check, and the funds will be verified by your mortgage company prior to final approval of the loan.

This earnest money reassures the Iselin home seller you're indeed serious about the offer you're making. Once the terms of the deal are worked out between you and the seller, the earnest money is placed in an account held in trust until your loan closes. Then the money will be used for your down payment and closing costs.

What if the Deal Falls Through?

If the deal falls through at any time, any cancellation fees are paid out of the earnest money. The remainder of the money continues to be held in trust until you and the seller agree on the disbursement of the money. If the deal is canceled early in the process, it’s usually a simple matter of the seller signing over the deposit to you.

What if You Cancel the Transaction?

If the transaction is canceled by you, the buyer, some sellers mistakenly believe that the earnest money is forfeited to them. That’s not likely to happen because no buyer is going to let the seller just have the earnest money. Because the money is held in a trust and both parties must sign a release of escrow, no one can make you give the earnest money away. In this situation, work with your Iselin real estate agent to help you negotiate the return of your earnest money.

What if an Agreement Cannot Be Reached?

If the buyer and the seller are unable to come to an agreement about the earnest money, the broker holding the funds in trust can make a written judgment and disburse the money. If the broker is unable to make a determination, he or she can turn the money over to the State’s real estate commission to make a decision. Rarely does a court of law have to be involved.

For more information on earnest money or answers to any other questions you have about buying Central Jersey real estate, please contact me.

Cathy Chaudemanche

Buying a New Piscataway Home in New Jersey? Read This First

Whether you are new to home buying or an experienced home buyer, you should take a minute to read this information before you set out to look for your new Piscataway home in New Jersey.

Look Before You Leap

Anyone who has bought a home in the past knows how good one can look when you walk through it. Even after you close on the sale and move in, all looks good, for a while. Then you begin to notice the little things. Things you should have known to look for when viewing. Be sure to have your home thoroughly inspected by a professional home inspector.

Avoid Problems at Closing

Title company issues can put a damper on your closing and possibly cause you to be without a home. How? Once your current home is sold and the new owners want to move in, you'll be looking for a place to live until you can get the closing issues resolved. Or, if you're renting and your lease is up, you'll need to get out or sign for another term. Work with a professional real estate agent who can successfully guide you through the home buying and home closing process.

Avoid First-Time Buyer Mistakes

Beyond the hidden problems of a home there are typical first time buyer mistakes to avoid when looking for your Piscataway home such as:

• How to estimate the cost of fixing up an older home.

• How to negotiate a better price and terms.

• The burdens of a long commute and how to decide how far is too far.

Buying a new home is fun and exhilarating, if you do your homework first to avoid making costly mistakes.

Whether you just want a recommendation for a professional home inspector or are looking for a new Piscataway home, I can help.

Cathy Chaudemanche

It's not difficult to go Green in Your Edison Home in New Jersey

Kermit the Frog may beg to differ, but it really is easy being green. There are several simple green steps you can take to keep your family clean and healthy in your Edison home in New Jersey.

Surprisingly, one of the most common places chemicals that are hazardous to the environment and your body are found is your bathroom cabinet—and I'm not talking about house cleaning supplies. Do you know how 'natural' that stuff you put on your face really is? Keep yourself and your family clean and healthy by choosing truly natural skin care products or with easy to create homemade cleaning solutions.

Oatmeal isn't just for breakfast anymore: You can buy oatmeal scrubs in the stores but they are often full of extra additives. Read the label, and if you are not completely satisfied that a scrub is all natural, make your own. Not only are homemade oatmeal scrubs usually healthier than store bought items, they're cheaper too. All you need is some instant oatmeal and water—that's it. Mix it to the desired consistency: thicker for a masque and thinner for a scrub. It removes dead skin and dirt from your pores and leaves your skin silky soft.

Yogurt is yummy: That plain yogurt in your Edison home refrigerator has a place in the bathroom too. It makes a fantastic all natural face cream to replace chemically produced cold creams.

Baking soda cleansing: Baking soda is a wonder of nature. Mix it with a little water to form a thick paste that cleans your teeth. Baking soda also makes a rejuvenating facial masque used in much the same consistency as you would for brushing your teeth. Apply a thin layer to your skin and let it set until hardened. Simply wash off with warm water and you've given yourself a natural facial.

Going green in your Edison home really doesn't take much time at all and the benefits to your home and family can't be measured in mere cost.

Cathy Chaudemanche

Prepare For Your New Brunswick Home Inspection, New Jersey

Few things can derail your plans to sell your New Brunswick home like failing a home inspection. Most states require that a home inspection be completed and turned over to the buyer before the contract is finalized.

To prepare for your New Brunswick home inspection, you’ll want to thoroughly clean your home. It’s also a good idea to examine all the appliances to make sure they're in good working condition.

What Will the Inspector Do?

You may be surprised to learn that the inspector will turn on the stove and test the dishwasher and garbage disposal. They'll make sure the furnace and air conditioning systems work. You’ll want to clear out the area around the furnace and hot water heater because the inspector will need a few feet of space to work in.

If you plan to leave the New Brunswick home before selling it, be sure to leave the pilot lights lit for the inspection. Some inspectors will not re-light pilot lights because of insurance regulations. This can delay the completion of the inspection and cause the loan process to take longer.

The inspector will test the water pressure by flushing the toilets and turning on all the faucets. This process can reveal leaks or clogs in the system.

It will be easier for the New Jersey inspector if you aren’t in the house at the time. Try to arrange to be out of the house for the inspection, and take your pets with you. Pets can be an unnecessary distraction to the inspector.

What's Next?

Hopefully your New Brunswick home passed inspection with no problem. If you get a repair request from the inspector, don’t worry. You aren’t obligated to make the repairs unless it’s stated in the contract. However, you run the risk of the contract being canceled if you refuse to make reasonable repairs.

A very good idea is to get your home pre-inspected, meaning get an inspection prior putting it on sale. That way you know if anything major needs to be fixed and you have much more time to act on it. Also it gives you the opportunity to work on the minor things at your pace. A bad inspection result can be a deal breaker, so why wait the last moment?

Also being able to market and advertize your home as already pre-inspected will provide potential buyers with a greater level of comfort. First time home buyers being the majority of buyers out there, that extra level of comfort might be the incentive that bring an offer on the table.

Cathy Chaudemanche

Are we seeing Home Pricing bottoming or Reversing in Middlesex County, New Jersey? (Median added)

In our three last blogs about Sold Home prices in Middlesex County, New Jersey we used the Average as the statistical measure:

Are we seeing Home Pricing bottoming or reversing in Middlesex County, New Jersey? Part #1

Are we seeing Home Pricing bottoming or reversing in Middlesex County, New Jersey? Part #2

Are we seeing Home Pricing bottoming or reversing in Middlesex County, New Jersey? Part #3

We are now providing the same charts and numbers but using the Median as the statistical measure.

We understand the Median can be useful as an additional measure/tool trying to make sense of the bigger picture.

Quick reminder Average Vs Median:

Let’s consider 5 Home Prices in a neighborhood:

$60,000 (foreclosure)

$98,000

$100,000

$100,599

$102,000

Averages (add all prices and divide by number of houses): $92,119.8

Median (middle price, not affected by extremes): $100,000

Which one of those numbers do you think is providing a better market capture? Again, both numbers are useful in understanding the bigger picture. However let’s say you are a first time home buyers and you don’t want to deal with any foreclosure, then the Median will provide you with a better number in term of what you should expect paying for a home in that neighborhood.

Again, the median is just an additional tool and nothing more or less to better understand the local market.

So here it goes the numbers and graphs:

Average	Nov-08	Dec-08	Jan-09	Feb-09
	$346,413	$334,524	$363,115	$348,075
Median	Nov-08	Dec-08	Jan-09	Feb-09
	$320,500	$305,000	$320,000	$320,000

2009 - The Year the Housing Affordability Index (HAI) Exploded

The HAI measure the relationship between median family income, median home price and mortgage affordability.

Beginning 2009 (February) it has jumped to an all time high of 173.5 and is the highest level of housing affordability since 1971.

To interpret this index, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home.

From Dr. Mark J. Perry (Professor Mark J. Perry's Blog for Economics and Finance):

The record-high housing affordability will play an important role in the real estate market's recovery, and should be considered very positive news. This key real estate market statistic frequently gets overlooked by the media, which often seems more interested in reporting "record high jobless claims/employment losses/______ fill in the blank" when it's negative news, than reporting record high statistics like housing affordability when it's good news.

We will be following closely the Housing Affordability Index and report on it at the next release. To get more facts about New Jersey real estate, click here.

Cathy Chaudemanche-

April YTD Average Home Prices for Middlesex County Cities (New Jersey)

- Middlesex County Single family home:

- 2009 YTD average sold price: $342,015

- 2009 YTD average days on market: 88 days

- 2009 YTD number of homes sold: 537

Avenel: $287,458

Carteret: $260,200

Colonia: $330,758

Cranbury: N/A

Dunellen: $269,687

East Brunswick: $380,762

Edison: $398,522

Fords: $267,220

Highland Park: $311,928

Iselin: $325,409

Metuchen: $395,550

Milltown: $266,333

Monroe: $465,709

New Brunswick: $276,642

No. Brunswick: $335,347

Old Bridge: $361,534

Perth Amboy: $207,014

Piscataway: $325,498

Plainsboro: $498,625

Sayreville: $305,721

Sewaren: N/A

South Amboy: $207,600

So. Brunswick: $517,502

South Plainfield: $304,886

South River: $294,269

Spotswood: $378,250

Woodbridge: $270,392
*Data from Middlesex County Multiple Listing System MLS. Calculated on 04/02/09 (=YTD)

Cathy C-