Posts tagged ‘nj transit’

SUMMIT NJ: OFFICE SUB-LEASE – $800 P/MO.

SUB-LEASE OF A SECOND FLOOR OFFICE SPACE IN SUMMIT. INCLUDES USE OF THE FURNITURE , BREAK ROOM AND COPIER. MINIMUM SPACE IS $800 PER MONTH (THIS IS FOR ONE OFFICE AND TWO CUBICLES)

THIS WELL MAINTAINED PROFESSIONAL BUILDING ALSO INCLUDES A PRIVATE PARKING LOT. OFFICE BUILDING IS LOCATED NEAR NEW PROVIDENCE TRAIN STATION FOR CONVENIENT ACCESS BY RAIL.

Offered By:
Exit 24/7 Realty
Call Carl Porambo at 908-754-0111 or carl@exit24-7.com

SUMMIT LOCATION

February 4, 2011 at 12:46 pm Leave a comment

Where Home Prices Are Falling Dramatically

The rising tide of Foreclosures and mortgage delinquencies affecting the market are depressing home prices at a more rapid pace than previously predicted.

The net effect will be more homeowners underwater, which will lead to more foreclosures, which will lead to even lower prices…which places the battered housing market on a round-a-bout with essentially no exit.

There will come a point in which DRASTIC measures will be the only solution to clearing inventory. Whether that will be practically giving homes away, say selling them for pennies on the dollar, or wiping out existing mortgages and restructuring them to fit a homeowners current income (DTI).

Or perhaps even creating habitats for homeless, terminally ill patients, special needs individuals, Etc. But something very drastic will need be done in order to stem the vicious cycle of exponential price and sales decline.

With rising unemployment and the continuing loss of purchasing power, less and less would-be buyers will be able to purchase a home. Therefore, the existing, foreclosed and shadow inventories will keep piling up- numbering close to 15 million units by 2012, if swift and meaningful action is not taken.

December 14, 2010 at 8:01 pm Leave a comment

Labor Data suggests that hiring may soon pick up

 

The latest DoL data suggests that companies may soon accelerate  the hiring process.

December 9, 2010 at 4:11 pm Leave a comment

Can Fixer-Uppers Work for First-Timers?

One common way that buyers often find a good value is by buying a fixer-upper, which is basically an existing home that needs some work. Sometimes these dwellings could just use some tender loving care, Other times, though, they need more serious rehabilitation.  So the question is: Are fixer-uppers a good idea for someone who’s new to homebuying and homeownership?

http://realestate.aol.com/blog/2010/09/28/can-fixer-uppers-work-for-first-timers

November 1, 2010 at 2:39 pm Leave a comment

Short Sales and Foreclosures- Do I have a Choice?

Today, we would like to take a bit of your time, commenting on the current housing issues and economic situation we are all facing.

Unless you have been off the grid…you know what our nation is going through in terms of the financial and economic hardships. One of the major concerns most everyone shares, is the state of housing.

For many if not most, a home is the largest investment a family or an individual will make. The uncertainty of job stability and-or steady employment for some and the unfortunate reality for others who may have fallen behind in their mortgage payments, are all to real.

If you happen to be facing foreclosure, we may potentially be of help in negotiating a Short Sale with your lender. What is a Short Sale? Basically a Short Sale is when the lender agrees to accept and settle on a lower or lesser amount than the full balance of the mortgage you owe.

A Short Sale will be reported as a debt that was discharged, but not paid in full. This will impact your credit rating and credit score less than if you allowed your property to foreclose. A Foreclosure will have a much MORE negative effect on your credit rating/score, In fact it could be as much as a 200 point lower credit score.

Another advantage of trying to negotiate a Short Sale is that currently under Fannie Mae regulations, mortgage borrowers can be eligible for a purchase loan only 2 years after a short sale.  Compare this to waiting  5 years, after a foreclosure. Also, some lenders may be slightly more inclined to loan on a mortgage to someone who went through a short sale rather than a foreclosure. 

By opting for the Foreclosure alternative, a Short Sale, a potential borrower shows that they were proactive in trying to pay off the majority of their debt rather than simply giving up or walking away from their home.

Now we are not saying that a Short Sale is for everyone. We are not saying that everyone who is facing the possibility or are in the beginning stages of Foreclosure will qualify for a Short Sale, but our Exit 24/7 Realty | NJ REO Servicing team may be able to help you in preventing a Foreclosure.

Please give us a call, 908-754-0111 or send an email to the Exit 24/7 Realty | NJ REO Servicing Office. [njreoservicing@gmail.com] So we may discuss the possibility of a Short Sale today.

September 2, 2010 at 12:00 pm Leave a comment

NAR Economist: Low Chance for Double Dip

 The NAR’s take on today’s existing housing report.

Sales in July declined by 27.2%, a 15 year record low. Video report link below.

nar-economist-low-chance-for-double-dip-

August 24, 2010 at 4:30 pm Leave a comment

August Real Estate News

The latest information on Mortgage Rates and First-Time Home buying strategies.

August 16, 2010 at 3:05 pm Leave a comment

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