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Look at these prices over the last few years in terms of spending
and in Canada:
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Check Out This Beautiful Metuchen Listing
| 17 Crest Drive, Metuchen, NJ 08840 $1,395,000 |
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MLS# 115664
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Buying a Home in Metuchen?
Magnificent and Grandious Home in Metuchen!
Step into perfection in this young, Custom Built Colonial. Located on a beautiful, quiet, tree lined street in Metuchen, this home is truly one of a kind. Metuchen Charm in a newer home, just 5 years young! The Charming front porch, and Pristine Professional Landscaping invite you into this amazing home. Follow the oversized paver driveway up to a three car attached garage.
Once you open the door, enter into the bright, large foyer with an ornate chandelier and floor to ceiling coat closet. You are pleasantly welcomed by the Gleaming Hardwood Floors with in-lay throughout the spacious floor plan. No detail has been missed. The Formal Dining Room features crown molding, and a hexagon tray ceiling.
The bright top of the line, gourmet eat-in-kitchen has every luxury and convenience. Features include Granite Countertops, Viking Stainless Steel Appliances, 6 Burner gas range, two dishwashers, custom Maple Cabinetry, recessed lighting, glass tile backsplash, Center Island, custom pantry, custom built-in wine racks, lazy Susan and more. There is a door that will lead you out to the spacious lush, park-like yard, which features two paver patio areas, and a shared pond.
Step down into the large, sunken Family Room with cozy gas fireplace, custom drapery, custom shades and recessed lighting. The formal living room or study is spacious and bright. The bedroom on the first floor is perfect for an Au Pair suite with lots of closet space and an additional full bath near by.
The gleaming hardwood floors lead you upstairs where you will find 5 Bedrooms and 3 Full Baths. Open the French Doors into the very spacious master bedroom suite which features two large his and hers walk-in closets. Step further into the sitting room which is completely sun drenched. The tranquil master bath features an oversized Jacuzzi tub, oversized separate shower stall, granite counter tops, vanity area and linen closet. The Master Bedroom suite is truly a serene escape.
The other 4 spacious bedrooms upstairs are professionally decorated and each has its own flare. They all feature custom lighting fixtures and drapery along with wonderful large closet space in each. The jack and jill bathroom adds convenience to two of the bedrooms, and the fourth full bathroom features double sinks and a spacious layout. No detail has been missed with crown molding and tray ceilings giving each room an even more spacious feel. A bonus and convenient feature is the upstairs laundry room. The full attic has pull down stairs for additional storage.
In the enormous finished basement you will find a theatre room, rec-room, exercise room, wet bar with custom granite and half bath with custom granite counter tops. You will also find a huge storage room with additional laundry facilities. The possibilities are endless in this space!
This home is just 5 years young, and features multi-zoned furnace, multi-zoned central air conditioning and has every luxurious feature you could want. The décor is simply beautiful, bright, and neutral throughout. Newer construction with Metuchen charm!
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Type |
Single Family Property |
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Bedrooms |
6 |
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Full Bathrooms |
4.5 |
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Open House |
N/A |
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Brand New Listing
Check it Out:
| 148 Safran Avenue, Edison, NJ 08837 $240,000 |
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MLS# 114626
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Buying a Home in Edison?
Charming, quaint Clara Barton Cape!
This charming home is deceiving from the outside! Once you enter you are pleasantly surprised by the open floor plan. This home features a formal dining room, country kitchen, and living room. All neutral and bright! The master bedrooom is spacious and fits a king sized bed with plenty of room for a sitting area or office area. Upstairs you will find 2 bedrooms, a play room and a den along with plenty of closet space for storage. The huge yard is perfect for entertaining, and is completely fenced in for added convenience. The location is excellent just minutes to shopping, schools, parks, NJ Turnpike, Route 287 and the Garden State Parkway. Definitely a home worth seeing! |
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Type |
Single Family Property |
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Bedrooms |
3 |
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Full Bathrooms |
1.0 |
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Open House |
N/A |
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This Gorgeous Metuchen Property Has Just Been Reduced
From $509,000 ---> $405,000
Get Your New Home For a Great Price
TODAY!!!
| 60 Stoneham Place, Metuchen, NJ 08840 $490,000 |
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MLS# 112234
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Buying a Home in Metuchen?
Spacious updated home in Metuchen!
This charming split level home is ready for its new owners! Each room throughout this home is very spacious and open. Gleaming hardwood floors lead you throughout the large, open floor plan. The formal living room is bright and neutral, and sunkissed by the natural light flowing in from the bay window. From the living room step into the large dining room perfectly sized for entertaining. From there step out onto the huge deck and yard. The eat-in kitchen has been updated with granite countertops and newer appliances. Upstairs you will find three bedrooms including the master suite which features it's own updated bath. Enjoy the family room with nice size newer windows allowing plenty of light to come in. The family room is perfect for entertaining, and features an office area as well. The half bath just adds to the convenience. This home has plenty of storage with a two car garage and newer storage shed. Lots of updates throughout this home make it virtually maintenance free. Must see this home to appreciate all it has to offer! |
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Type |
Single Family House |
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Bedrooms |
4 |
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Full Bathrooms |
2.5 |
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Open House |
N/A |
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FHA Extends 'Anti-Flipping Waiver' to Speed Sales of REO Homes
The Federal Housing Administration (FHA) announced Friday that it is extending the suspension of its ‘anti-flipping rule’ through the remainder of 2011.
FHA Commissioner David Stevens says the temporary waiver will accelerate the resale of foreclosed homes in neighborhoods that are overrun with abandoned properties and blight. The move is intended to help stabilize home values and improve conditions in communities experiencing high foreclosure activity.
FHA regulations typically prohibit insuring a mortgage on a home owned by the seller for less than 90 days, but in February of last year, FHA temporarily waived this regulation through January 31, 2011, noting that in today’s foreclosure-ravaged marketplace, the agency’s research has shown that acquiring, rehabilitating, and reselling distressed properties often takes less than 90 days.
With the sunset date for that first extension just days away, FHA posted a notice on Friday extending the waiver through December 31, 2011. This action will permit buyers to continue to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales
“As I noted when we first announced this policy change early last year, because of the tightened credit market, FHA-insured mortgage financing is often the only means of financing available to potential homebuyers,” Stevens said. “Today I can report that this policy change has been effective.”
Stevens says since the original waiver went into effect, FHA has insured more than 21,000 mortgages worth over $3.6 billion on properties resold within 90 days.
FHA said it the notice that prohibiting the use of FHA mortgage insurance for a subsequent resale within 90 days would adversely impact the willingness of sellers to consider offers from potential FHA buyers, because the seller must also factor in holding costs and the risk of vandalism associated with allowing a property to sit vacant over a 90-day period of time.
“Because of past restrictions, FHA borrowers have often been shut out from buying affordable properties,” Stevens added. “This action enables our borrowers, especially first-time buyers, to take advantage of this opportunity and buy a home that has recently been rehabilitated. It will also help to move more foreclosed properties off the market and reduce the number of vacant homes in neighborhoods throughout this country.”
The waiver contains strict conditions and guidelines to protect FHA borrowers against predatory practices of “flipping” where properties are quickly resold at inflated prices. The agency’s anti-flipping waiver is limited to those sales meeting the following criteria:
- All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.
- In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will only apply if the lender meets specific conditions.
- The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program
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Top 10 tips for buying your first home
Planning and staying within budget are keys for having a good first-time experience
If one of your goals this year is to make the shift from renter to homeowner, you should begin preparations now for an exciting emotional and financial adventure.
Before you start the home-buying process, make sure you are ready to buy a home where you will live for three to five years or longer, since it can take that long to build equity in a home and recoup your investment costs. Think about your dream home and your dream neighborhood, but recognize that you may need to sift through these dreams to find a community and a home that you can comfortably afford.
Anyone who has watched the news in the past few years should be aware that home prices have fallen in most real estate markets, and that interest rates are at historically low levels — both factors that make buying your first home more affordable.
More from Investopedia.com: Top homebuyer tradeoffs
Here are some tips to get you started on the step-by-step process of buying a home:
1. Check your credit score
Lenders base your mortgage qualification on a variety of factors, including your income and assets, your debt-to-income ratio, your pattern of savings and your job stability. But the most important factor in today's tightened credit world is your credit score. Lenders tie the interest rate you must pay to your credit score, so that borrowers with a score of 720 and sometimes 740 and above are the only ones who will pay the lowest mortgage rates. Borrowers with a credit score below 620 may not qualify at all for a mortgage until they can improve their score.
2. Set your housing budget
A lender will tell you how much you can borrow, but each potential homeowner should create a simple budget for themselves with income and spending to determine how much they are willing to spend on housing payments. Financial experts recommend that homeowners spend a maximum of about 30% of their gross monthly income on principal, interest, homeowners insurance and taxes. Don't forget to budget about 1% of the home price for condo or homeowner association fees and maintenance costs.
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3. Start saving and stop spending
Once you have an estimate of your mortgage payment, start saving the difference between that payment and your current rent every month. In addition to building your savings, this allows you to get comfortable with a higher housing payment.
Investopedia.com: 5 expensive (and unexpected) things that can happen to you home
4. Meet with a lender
Get pre-qualified for a mortgage loan before you look at homes so you can avoid falling in love with a home you cannot afford. You may be surprised to discover you can afford something pricier than you thought since interest rates are so low. Make sure you ask your lender about your variety of loan options and get an idea of how much cash you will need for a down payment and closing costs.
5. Find a reputable realtor
All buyers should have a realtor to represent their interests during negotiations and to help buyers recognize the value in different homes and neighborhoods. Your realtor should be experienced, knowledgeable and familiar with where you want to live. Trusting your realtor is vitally important to buying your first home.
6. Narrow your priorities
Decide whether it is more important to you to live in a particular type of home (a single family home with a garage or a condo in a high rise) or in a particular neighborhood. If you cannot find or afford everything you want in your first home, you may need to make some compromises.
Investopedia.com: Financing for first-time homebuyers
7. Choose a neighborhood
Some neighborhoods hold onto their value more than others during a housing downturn. Work with a knowledgeable realtor to find a neighborhood that meets your needs - somewhere you will be happy as well as feel safe that home values are stable or rising.
8. Make a reasonable offer
If you love a house and don't want to lose it, don't make a low-ball offer. Some sellers are willing to negotiate and others are not. A trustworthy realtor can walk you through the process to make sure you are dealt with fairly.
9. Have a home inspection
Never buy a home without having it inspected. Not only are you looking for serious flaws in the home, but you can learn a lot about home maintenance and what to expect in terms of repairing or replacing systems and appliances as an owner.
Investopedia.com: 5 real estate fears that keep you from buying
10. Finalize the details
After the contract has been signed, make sure to stay in constant touch with your realtor and your lender to be sure your financing is taken care of along with all insurance needs. A good realtor will have a checklist to make sure everything is accomplished in time for settlement.
The bottom line
Buying your first home can be an exhilarating experience, provided you do some research, stay within a comfortable budget and work with reputable professionals who will guide you through the process.
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Why Now is the Time to Buy a HOME!
- Home Affordability is at an all-time high
- Mortgage rates are at a rock bottom.
- Home prices are back on the rise
- Sellers are motivated
- Financing is readily available!
- Owning vs. Renting is increasingly favorable
- Homeownership is still at the core of the American Dream!
Though these are just a few points, all of which go deep into detail, for more information on this face paced market, contact Deborah Kerr TODAY!
FOR INDIVIDUAL HOME BUYERS, THERE ARE ONLY A FEW FACTS THAT REALLY MATTER:
So it's a bit surprising that the most important housing statistic has gone largely unreported: homes have never been more affordable. Affordability, measured by the median mortgage payment on the current median-priced home ($182,400) as a percentage of the median household income ($64,400), is lower than it;s been in a generation. The chart below, which tracks, housing affordability for the past 10 years, shows incredible improvements in affordability since the height of the real estate boom in 2006.
FOR MORE INFORMATION ON THIS, OR ANY OTHER MARKET NEWS AND ADVANTAGES,
CONTACT DEBORAH KERR TODAY!
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Ownership Costs are Dropping
BELOW Rental Costs!
The recent downturn in the housing market resulted in a drop in the rental rates, but rents are back on the rise while the cost of home ownership has dropped.
As the chart below indicates, as average apartment rental rates have slightly decreased, the decline has been moderate in comparison to home values, which have declinded nationwide by 30 to 40 percent since the peak of the housing boom.
FOR MORE INFORMATION ON THIS MARKETING DEVELOPMENT OR ANY OTHER HOUSING INFORMATION
CONTACT DEBORAH KERR TODAY!
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No Doubt You've Heard the News:
The housing market hit a rough patch this summer. Sales of existing homes declined at a rate that took many by suprise, sending pendits into a "what's next" tailspin.
As the prognosticators pondered, savvy buyers didn't miss a beat. They got that the doomsayers were taking a one-dimensional view of the buyer's market and that market sittishness gives rise to an even more favorable climate for buying a home.
Recent history has reframed some of the what had long been taken for granted about buying a home.
Namely, we've learned that even though buying a home remains one of the best and safest investments available, a home should not function as an ATM or a short-term speculation strategy.
So where does that leave us? A lot smarter, able to recognize an opportunity when we see one, and aware of the facts that point to NOW as the prime time to buy a home.
FOR MORE INFORMATION ON THIS MARKETING DEVELOPMENT OR ANY OTHER HOUSING INFORMATION
CONTACT DEBORAH KERR TODAY!
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NEWS FLASH!
[Another $8,000 tax credit is off the table]
Doug Duncan, Fannie Mae's chief economist, contends that further intervention at the federal level will be counterproductive. At today's rock-bottom rates, buyers stand to save $8,000 many times over during the course of a 30-year mortgage.
FOR MORE INFORMATION ON THIS MARKETING DEVELOPMENT OR ANY OTHER HOUSING INFORMATION
CONTACT DEBORAH KERR TODAY!
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Deborah Kerr and the Kerr Team are Now on YouTube to assist YOU in all your Metuchen Real Estate Needs, Whether it be Buying a Home in Metuchen or Selling a Home in Metuchen, we continue to work for YOUR Satisfaction.
