This Week's Foreclosures/Short Sales - 6/29/09

Save 20-30% on your next home!

Before...

In the past few months, as prices have dropped and rates remain historically low, many buyers are taking advantage of the current market to buy home. Some saavy consumers are saving even MORE money by buying rundown homes in great locations that no one else wants. Then, with as little as 3.5% down, they are using the bank’s money to fix up the home how they want it, ending up with a fantastic, modern home for much less! This is the magic of the 203(k) program.

...After!!!

Can you show me how?

Take this home for example. A house flipper bought this home for $212,000 and sold it for $299,000 in a multiple offer scenario, putting in about $40,000 in work. A buyer using the 203(k) program could have saved themselves almost $50,000 on this home, and ended up with the upgrades they wanted. That's an enormous savings.

What about unscrupulous contractors?

One of the great features of the 203(k) program is that it is designed to protect Home Buyers from unethical contractors. Here are some of the ways how you are protected:

1) The 203(k) Consultant – This individual is a construction professional whose job is the protect YOU. Working with you, they set the budget and scope of work, as well as inspect all work to make sure it is completed properly.

2) No Deposits – Unlike with regular jobs, contractors do not receive any deposits. This means you are always ahead of the game.

3) No Payments Unless Work is Done Correctly – The Contractor is only paid for work that is done correctly AND approved by your 203(k) Consultant. No work, no money.

With the 203(k) Consultant and the Bank on your side, you can end up with a fantastic home with the upgrades you choose at a tremendous savings!

If you’d like more information on the 203(k) Program, or would like to take advantage of this opportunity, feel free to contact me directly at 609-865-5877or email me at cooper@zastko.com.

And now for this week's Foreclosures and Short Sales...

Many of the homes on this week's list would be absolutely perfect in conjunction with the 203(k) program. As you take a look at these homes, I'd be happy to provide more information or schedule a showing on any that may be of interest.

Carteret

Dunellen

East Brunswick

Edison

Jamesburg

Monroe

New Brunswick

Old Bridge

Piscataway

Sayreville

South Plainfield

South River

Woodbridge Area

CONDOS

MULTI-FAMILY

Foreclosures & Short Sales 6/22

Well, summer is here, and while home prices are down, activity is up. While there's been a lot of national statistics regarding home prices, there has been very little locally.

The graph to the right represents average home values of single family homes in Middlesex County based on closed sales since 2006. Declines were cyclic, but not as drastic as other parts of the US, until September 2008, when the banking industry imploded. Since then, the market has slowed in its decline. It'll be interesting to see when it actually ends.

On the other hand, it seems the Foreclosure and Short Sale activity continues to rise. Whether this is seasonal or simply banks moving forward is hard to say, but the bottom line is this kind of market is here to stay, at least for the next several months, which means tremendous opportunity for the saavy buyer.

For this week's Foreclosures and Short Sales, check out the list below. Our focus is Middlesex County and surrounding areas, so if you don't see an area, don't feel bad. We can still help! Just drop us an email or call.

If you'd like more information on any of these properties, please contact me at cooper@zastko.com or call me direct at 609-865-5877.

Aberdeen

Avenel

Carteret

East Brunswick

Iselin

Keansburg

Keasbey

Manville

Matawan

Middlesex

Monroe

New Brunswick

North Brunswick

Old Bridge

Piscataway

Sayreville

Woodbridge

CONDOS

MULTI FAMILY

Foreclosures & Short Sales 6/15

Happy June, everyone! Even though its been rainy most of the month so far, there seems to be a lot more sunshine in our Central Jersey market. Based on the number of closed Single Family homes in Middlesex County, we're seeing a pickup in the market, which is a great thing. Perhaps stability is just down the road...

As usual, we have this week's Foreclosures & Short Sales, which you can view by clicking on the towns below.

If you'd like more information on any of these properties, please contact me directly at cooper@zastko.com or call me direct at 609-865-5877.

Dunellen

East Brunswick

Edison

Highland Park

Hopelawn

Middlesex

New Brunswick

Old Bridge

Perth Amboy

Pine Hill

Port Reading

Roselle

Sewaren

South Brunswick

South Plainfield

South River

Woodbridge

CONDOS

MULTI FAMILY

This year's Heritage Day Info

North Brunswick Twp. has just announced this year's Heritage Day! See below for more details. It is a great event...hope to see you all there!

The Annual Heritage Day Festival is North Brunswick’s day to celebrate ethnicdiversity & historic traditions with an outdoor festival which includes great food, crafts , games, music & entertainment. Bring your family, friends, and neighbors as we enjoy our Township’s day to shine.
SEPTEMBER 26, 2009RAIN DATE SEPTEMBER 27, 2009
Begins at noon at Babbage Park
Fireworks & Concert in the evening at
NBTHS Stadium

Foreclosures & Short Sales 6/8

Hello Everyone! This week I would like to share some statistics with you that were reported by Phil Mintz in a 6/2 article in Business Week. ->

Pending home sales activity was greatest in the Northeast, where the index increased 32.6%, to 78.9, in April, 0.8% above a year ago. The only region that showed a decrease was the South, where the index declined 0.2%, to 93.0, 3.5% higher than a year ago.

Cranbury

East Brunswick

Edison

Fords

Iselin

Metuchen

Middletown

Monroe

New Brunswick

Perth Amboy

Piscataway

Spotswood

Woodbridge

CONDOS

MULTI FAMILY

June 08, 2009
The Best Deals Aren't Always Bank Owned
No matter the price range, I've never worked with a buyer who wanted to pay more than a house was worth. On the flip side, especially these days, the vast majority of buyers I work with want a deal. After all, with a drop in value, low mortgage rates, and the tax credit, its a great time to buy. So, how do you find those deals?
Don't Always Bet on the Bank-Owned
Many people believe that bank-owned are the best deals, but this isn't always the case. Many times, it depends on bank expectations, the property condition, and what the house is really worth. If a bank could get $300,000 for a house, why would they sell it for $200,000? Yes, there's some motivation on the part of banks to sell quickly, but it doesn't always mean great pricing.
So, How do I Find These Deals???
To find a deal, you need to find a seller with motivation to sell quickly. For example, job relocation, bankruptcy, marriage, divorce, death in the family, etc. If people NEED to sell, that's where you'll get your best deals.
Where Do I Start?
Best thing to do is to setup a Buyer's Consultation with a Realtor who knows how to recognize seller motivation and can hunt down these homes for you. A full-time Realtor who knows their market and takes the time to meet with you will be your best asset in achieving your goals.
If you'd like help finding these deals or would like more information, feel free to email me at cooper@zastko.com or call me direct at 609-865-5877.

This Week's Foreclosures & Short Sales

There seems to be a good number of Foreclosures & Short Sales on the market this week. You can view them by clicking here.



Deal of the Week

While not a Foreclosure, this East Brunswick home is an Estate sale that is priced right and ready to move. After all, not all the best deals are Bank owned!
Offered at $244,900
If you're interested in this or any other home, please contact me at cooper@zastko.com or call me direct at 609-865-5877.



Cooper FordRealtor Associate732-297-0600Email MeVisit My Website
Copyright © 2009 Cooper Ford. All rights reserved.

Foreclosures and Short sales 6/1

Welcome first week of June! With the coming summer, along with buyer incentives, we've seen a tremendous increase in activity. Even though overpriced homes continue to sit, those that are priced well are moving, some of them even getting multiple offers and going OVER list price (I kid you not.).

Here are this week's listings for Middlesex County. Click the town to view. If you'd like more information on any of these homes or have any other questions, feel free to contact me directly at 609-865-5877 or cooper@zastko.com.

East Brunswick

Edison

Monroe

New Brunswick

Old Bridge

Piscataway

Sayreville

South Plainfield

CONDOS

MULTI-FAMILY HOMES


Get Off the Fence!
These past couple of weeks, we've seen a tremendous increase in Buyer activity. Many have been waiting and watching, and now, they are making their move.
Rates on the Rise
This past week, mortgage rates actually increased signficantly, going up 0.25%, reversing a previous flatline trend. As previously reported, rates were artifically suppressed to unusual lows, and with greater confidence in the market, they are now on the rise. Rates are still great, but if you're looking for the absolutely lowest, you missed it.
A Changing Market???
Another trend we've seen this past week is a shift on certain homes from a Buyer's to a Seller's Market. This is happening when Sellers are pricing their homes well, causing several potential Buyers to make offers on their home, resulting in a contract at or over list price. Many homes are still over-priced, leaving the overall market in the Buyer's favor, but by using this technique, Seller's are taking control on their home (even though its still a great price for the Buyer!).
Don't Get Caught Waiting
In the end of the day, those who sit and wait for something to happen will lose out. As Jeff Otteau recently said:
"Those who wait will regret it. The next six months represents a sweet spot in the housing market that isn't going to come back."
If you're ready to make the move, feel free to contact me at cooper@zastko.com or call me direct at 609-865-5877.
This Week's Foreclosures and Short Sales
Activity has really begun to pick up in Central Jersey as buyers are coming out of the woodwork. You can view this week's Foreclosure and Short Sale homes by clicking here.
Deal of the Week

WOW!!! This Grand 5 Bedroom, 4 1/2 Bath Estate home in Old Bridge is BANK OWNED and ready to move! Definitely would not wait on this one!
Offered at $625,000.
For more information or to schedule a showing, feel free to contact me at cooper@zastko.com or call me direct at 609-865-8577.


Cooper FordRealtor Associate732-297-0600Email MeVisit My Website
Copyright © 2009 Cooper Ford. All rights reserved.