IMPORTANT INFORMATION ABOUT BUYING A HOME !!!

We can't make predicitions about when home prices will "bottom out", until we start to see them go up again. Waiting on the sidelines to "see what the market will do" may not be in your best interest right now. Qualified buyers should consider these reasons why waiting may not be a the best position to take.

  • As of January 1, 2009, FHA will be raising their minimum down payment from 3% to 3.5% as of January 1, 2009
  •  FHA, Fannie Mae and Freddie Mac loan limits will go DOWN as of January 1, 2009. According to HUD, Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Ocean, Passiac, Somerset, Sussex and Union counties will see the maximum FHA insured loan amount for single family homes drop from $729,750 to $625,500. For more information visit :

www.fha.gov or www.fhfa.gov

  • Qualified first time home buyers can only get the tax credit of up to $7500 (through the 2008 Housing and Economic Recovery Act) up to July 1, 2009. For more information visit:

http://www.njar.com/government_affairs/issues/federal/pdf/tcchart.pdf

 

 

 Here you will find a compilation of information for Buyers, Sellers or the curious.

Browse the pages, and be sure to read the side bars for more useful information.

 

Whether you're buying, selling, renting, have questions about Real Estate, or comments about this website, feel free to contact me. I will be happy to help you with all your real estate needs.