White House Considering Extending Homebuyer's Tax Credit

The tax credit has been credited with the increase in home sales all across the country. At the present time the tax credit only applies to purchases closed by November 30, 2009. The goal is to potentially extend the tax credit expiration date and open it up to more types of buyers. If your interested in having the tax credit extended reach out to your local congressman.

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Home of the Week

Come by to see this custom built, 7 year old bi-level home in Saddle Brook, NJ. The outside of this home hides the massive amount space available inside, 4 bedrooms 3 baths on the main levels with an additional 2 bedroom, 1 bath in-law suite with its own private entrance. The main level features skylights, cathedral ceilings, hardwood floors, a custom kitchen and extra large living room. The lower level features a family room with French doors leading toe the backyard, as well as a guest bedroom and bath. The home is conveniently located near schools, shopping and transportation to NYC. Don't miss out this great home! Won't last long! It's currently on the market for $699,999.

Home of the Week

I think this house is so cute! It is a 4BD, 2BA Cape Cod that has been dormered. It has great hard wood floors, and updated kitchen, bath, roof and water heater. It has a huge basement that will make a great family room! Did I forget to mention the backyard with an above ground pool for the summers and paved patio for great BBQ! The home is in Saddle Brook and is currently on the market for $390,000. If you're interested in seeing it, give me a call!

Don’t Get Swept Away When Shopping

When touring homes you will find that there are many beautiful homes on the market. There are two things you must do before looking at homes.

1. Find out from your lender how much you qualify to spend on the home, and get pre-approved for your loan. It is very easy to become excited about features found in homes out of your price range. Before you get your heart set on that big, tree-shaded colonial on the hill, you need to pin down your financial details. Only then will you know if you can afford Willow Crest, or if it makes more sense to aim for Shady Hollow.
   
2. Take a moment to decide what features are "Requirements" (location, basement, number of bedrooms, eating space, architectural style, garage, etc…) and which features are "Extras" (fireplace, walk-in closets, wet bar, pool, siding, vaulted ceilings, deck, landscaping, etc…). There are many different features in homes that range from necessary to luxury. It is easy to get caught up in the excitement of a beautiful home loaded with amenities. It is important that you select a home that truly meets all or most of your requirements first and foremost!
   

As you tour homes, check back to the list to make sure the home meets your requirements. The extras should only come into play when you make your final decision between homes that meet all or most of your requirements.

How to Choose a Good Inspection Company

Is an inspection necessary?

You have the right to request an inspection of any property you are thinking of purchasing by a professional inspector of your choice. You should always exercise your option to have the physical condition of the property and its inclusions inspected. Many of the more severe and expensive problems such as mechanical, electrical, structural and plumbing are not noticeable to the untrained eye. If repairs are needed, negotiate these in your contract offer. A professionally conducted home inspection followed by a written evaluation is becoming standard procedure in home buying because of increased buyer awareness and savvy.

Are inspectors licensed?

Since an increasing number of buyers are requesting property inspections, there has been a rapid increase in the number of people entering the inspection field, make sure your inspector is a licensed home inspector.

What does an inspection entail?

A qualified inspector will follow Standards of Practice in conducting their inspection. The inspection consists of a physical inspection of the home with the purchaser present, followed by a written report detailing their findings. They report on the general condition of the home's electrical, heating, and air systems, interior plumbing, roof, visible insulation, walls, ceilings, floors, windows, doors, foundation, and visible structure. The inspection is not designed to criticize every minor problem or defect in the home. No home is perfect. It is intended to report on major damage or serious problems that require repair for the well being of the home and that might require significant expense.

Buyer education is necessary —

The primary purpose of the inspection is to educate the buyer to make an informed purchasing decision. The inspector should allow and even encourage the buyer to attend the home inspection. A good home inspector knows how the home's many systems and components work together and how to minimize the damaging effects of sun and water. The buyer's attendance of the inspection provides them with an overall idea of possible future repair costs and maintenance routines. This is valuable information, which could increase the life span, and perhaps the future selling price of the home.

Continuing education is important for inspectors —

A competent home inspector is familiar with the latest construction materials, home building techniques, and professional equipment. Consumers should research whether prospective home inspectors actively monitor the changes in construction and real estate in order to keep their business practices current and professional. Members must meet annual continuing education requirements for this purpose.

Time and fee guidelines for the inspection —

The time necessary to properly inspect a home, as well as the fee charged by an inspector, varies according to market location, the size and age of the home, and the individual inspection company. However, you can expect that it will take an average of two to three hours to competently inspect a typical one-family, three-bedroom home, with an average cost of $300 to $500.

Beware of false claims —

Consumers must be cautious in evaluating some of the claims made by people hoping to fill the growing demand for home inspection services. Many new companies request only an application fee. Some claim to offer certification but do not require exams or proven credentials. Still others boast engineering licenses as assurance of competence, even though the engineering license has nothing to do with home inspecting.

Inspection extras —

Some inspectors may be qualified to provide other types of services with their inspection that go beyond the scope of the ASHI standards.

Are you thinking of buying? Have you looked at your credit?

Spring is back, the economy is looking better and many buyers are calling. One of the first questions I ask is how your credit? Unfortunately, many first time buyers still don't know how important their credit score is in the home buying process. Credit is one of the easiest hurdles to overcome in the home buying process. Many individuals have errors and unknown items on their credit report that could be resolved easily. However finding these issues in the middle of your home buying process can cost you the home of your dreams. So what is the first step find a mortgage broker you trust who has experience with first time home buyers. They will not only pull your credit for you but can also guide you on what issues must be resolved before you can move forward in the home buying process. Often these changes can get you in a home within 3 months. So while you are saving your money for your down payment, check your credit and find out what you can do to resolve any issues! If you need a mortgage broker referral give me a call and get some great recommendations!

The Advantages of a Buyer’s Agency Agreement

Your interests are professionally represented —

Enlisting the services of a professional Buyer's Agent is similar to using an accountant to help you with your taxes, a doctor to help you with your health care, or a mechanic to help you with your car. So the first advantage is pretty obvious. If you had the time to devote to learning all you need to know about accounting, medicine, and automotive mechanics, you could do these services yourself. But who has the time? You probably already have a full-time career to which you are committed. This is why you allow other professionals to help you in specific areas of expertise.

The Jason Team has devoted their time to perfecting a career in real estate service. Continuous education, market research, and vast experience are combined with an excellent team of real estate professionals to find you the perfect home quickly. The Jason Team will take care of all the hassles of every day real estate transactions for you. We let you concentrate on your full-time job, while we do ours. The Jason Team will guide you through the home buying process and exclusively represent your interests as we help you find a home, present your contract offer, negotiate, and close!

You will get a great home quickly and conveniently —

The advantage to signing a Buyer's Agency Agreement with The Jason Team is that you will have a professional working to find and secure the perfect home for you exactly when you need it. It is nearly impossible to find a home that meets your needs, get a contract negotiated, and close the transaction without an experienced agent. The Jason Team has vast computer networks to make sure you only tour homes that meet your specific needs. You won't need to spend endless evenings and weekends driving around looking for homes for sale or trying to search computer networks yourself. When you tour homes with your professional Buyer's Agent, you will already know that the homes meet your criteria for bedrooms, bathrooms, garage space, square footage, neighborhood, etc. Also, your Agent will ensure you are looking at homes that are in your price range.

You get a personal specialist who knows your needs —

Just as your accountant, doctor, and mechanic get to know your needs through a steady relationship, your Buyer's Agent gets to know your real estate needs and concerns. This type of relationship is built by open communication at all times and by touring homes with your Agent so he/she gets a good idea of your feedback and concerns about each home. If you try to jump from agent to agent, you will not receive the best real estate services possible, and you will be violating your agreement to your agent. There is nothing to gain from trying to find and tour homes on your own, and you will save a lot of time when your agent can tell you everything about any home before you see it.

What is the Buyer's Agency Agreement —

Entering into a Buyer's Agency Agreement has countless advantages and no disadvantages. When you sign the agreement, you are simply agreeing to "hire" a personal representative who, by law, must represent your best interests to the best of his/her ability. All of this personal service is available at absolutely NO COST TO YOU! The Seller's Agent is responsible for paying your Buyer's Agent fee. With The Jason Team, you get a professional devoted to protecting your needs to help you make one of the most important investment decisions of your life –- and you don't even have to pay the fee!