South Jersey Real Estate News

 

June 13, 2015

Burlington County, NJ Homes For Sale

800px-JACOB_WILLS_HOUSE_-_MARLTON_-_NJIn Burlington County there exist over forty municipalities. This means there is a wide variety of lifestyle and housing options for you to choose from. You can search for the type of home you want by simply browsing through the Burlington County real estate listings. The database we have includes all of the MLS listings for Burlington County homes for sale and properties throughout South Jersey.

Purchasing A Good Home in Burlington County, NJ

When you first start your search for a good home or property. You may consider what your best options may be. You probably want a good deal on a home since you are going to be investing a lot of your money into the home you're purchasing. Whether you're a first time home buyer or a veteran in the real estate market. It's always good to keep your options open, which is why you may want to take advantage of purchasing a bank owned property or a home or property that has been foreclosed by the bank. There are many advantages into purchasing these real estate owned properties (better known as REOs).

For one, you deal directly with the bank. When you're searching for a new home or property you can sometimes run into problems with home owners. Former owners or troubled home owners can hinder you from buying the home or property you want with legal action. Even if the both of you have reached an agreement on the home. There may also be the problem of former tenants who refuse to leave. So when you deal directly with the bank you can do it with peace of mind. The bank has no emotional attachment to the property and are usually eager to get rid of it.

In most cases banks will also wave outstanding real estate property taxes too. When homeowners stop paying property taxes sometimes it falls to the new owner of the home to pay it off. Be on the safe side of this though by doing a title search first for the property.

If that wasn't enough, you can also have the option of getting the home inspected before you make your purchase. This way you can avoid purchasing a home that is to distressed to repair. The majority of REOs are not move in ready. Some of them require serious work to be done, but the work put into them sometimes can cost more than the home.

One of the biggest reasons you should also looking into purchasing REOs is due to the discounted prices. These properties are below the marketplace prices. However, that doesn't always mean you're getting a good deal. When you find an REOs you like be sure to check out the prices of the other homes in the area to gauge the price of the home first.

So, now that you know the benefits of REOs. How about we take a look at some of the homes available in Burlington County, NJ?

Properties in Burlington County, NJ

22 Bartram Ave, Mount Holly, NJ 08060 (MLS # 6613170)

Here is an excellent deal on a single family home! Built in 1955, the Mount Holly property is just perfect for a family. It has four beds, two full baths, the home size is 1,785 sqft, and the lot itself is 7,000 sqft. We call this property the handy man special since it has so much potential. It has gorgeous hardwood floors right through the first floor. There is an updated first floor bathroom and kitchen that has an open concept family room. The family room features a brick wood burning fireplace too. The property is in a fix-up condition and is being conveyed as is. Buyer is responsible for all certifications and inspections required by the lender/township.

25 Turtle Ct, Delanco, NJ 08075 (MLS # 6615745)

This residential townhouse was built in 2006. It has two beds, two full baths, and 1,080 sqft. The property is adorable and has been updated. The living room is large with an open kitchen that has just been painted and a fresh carpet that has been installed. The main floor also features a full bathroom with an entry into a one car garage. When you walk upstairs there are two generous sized bedrooms with plenty of light and another full bathroom. Don't miss out on this property!

4820b Aberdeen Dr, Mount Laurel, NJ 08054 (MLS # 6614653)

This wonderful residential flat was originally built in 1988. It has two beds, two full baths, and 1,434 sqft for the home size. This is a great opportunity for a nice home with its two spacious bedrooms and the loft. The loft can also be used as an additional bedroom, play area, or an office. The kitchen was also upgraded with additional counter space and plenty of cabinets. The living room features a beautiful fireplace and a balcony that overlooks the grounds. The master bedroom also features a walk in closet and a bathroom. It's located conveniently near entertainment, major highways, and shopping.

These properties are excellent deals. These are only a handful of the beautiful properties we have listed. Feel free to browse our listings to find the property or home just right for you! If you have any questions or concerns please feel free to contact us at anytime. We will be more than happy to help you anyway we can.

Posted in Burlington County
June 8, 2015

The Best Real Estate Agent in Marlton, NJ

newtons2It's hard to describe Marlton, which is also known as Evesham Township, offer a variety of real estate and homes for sale. If you're interested in purchasing a home in Marlton, NJ you have come to the right place. Here you can find town homes, condos, and a number of other types of homes. You can even find existing homes in mature communities and new construction homes for sale as well. Feel free to use any of the links in order to search for homes that meet your criteria.

Buying Bank Owned Property in Marlton, NJ

Not many people realize the benefits of being able to buy bank owned property. At most you may consider looking at a foreclosed home before moving on. The truth is there are many advantages to purchasing a bank owned property. One of the best things is that you get to deal directly with the bank. You don't have to deal with homeowners or tenants who refused to leave when it comes to REO properties. You know the property is always vacant and won't be harassed by former owners.

There are now outstanding taxes you have to pay out of pocket for the REO property. The former owners may have refused or been unable to pay their past property taxes. When this happens the bank in most cases will be willing to wave any outstanding real estate taxes due on the property. Be safe though and be sure to do a title search first.

You can also request a home inspection of the REO property. It's recommended you do this before the deal is closed so you can be sure you're getting exactly what you asked for. REOs are also mostly distressed homes and the former owners may not have done anything to keep the place up to date or even move in ready. Serious work may need to be done on the property, but for most homes it's worth the extra work.

Th biggest reason you should go for a REO property is because they are below the market value prices. On the other hand that does not always mean you're getting a deal either. Homes that need a lot of repair work can become expensive or even more expensive before they even become move in ready. There a lot of REO properties that are not a diamond in the rough. Always be sure to check the bank's asking price and compare it to the homes in the area. Be sure to get an inspection of the property too.

Marlton Homes for Sale

Now that you know the benefits of REO property. Why don't we take a look at some of the homes for sale? You're bound to find something you like. Here are just a couple of them.

174 Woodlake Dr, Marlton, NJ 08053 (MLS # 6614908)

            This residential flat was built in 1987. It has one bed, one bath, and has a home size of 765 sqft. There is no lot size, but don't let that stop you from taking a look at this cozy first floor unit. It has newer laminate flooring, newer stainless steel appliances, living room with a fireplace, updated kitchen counters, and even a patio. It's perfect if you need a quiet space to yourself to relax and live. Buyer is responsible for any and all certifications/inspections including the certificate of occupancy. Information for this foreclosed property is deemed reliable, but not guaranteed.

46 Picadilly Cir, Evesham, NJ 08053 (MLS # 6614164)

This single family home was built in 1989. It features three beds, 2 full baths, and has a home size of 1,436 sqft. The lot size is 7,841 sqft. This property is clean, pristine, and ready to go! The home is a Danbury Ranch model that has a two car garage that located on the popular Picadilly Circle. It even features a private wooded open space. The home has also been professional painted from top to bottom in neutral tones. The carpets are brand new. The open floor ban has skylights, vaulted ceilings, and more. There is even an eat-in kitchen with a full appliance package with a newer dishwasher and gas range.

There is a private rear grounds and garden window that overlooks it too. The vaulted family room as had a french slider leading to a screened porch, skylight, and private rear grounds. A small area of the rear grounds is fenced. The master suite hosts a large walk in closet, master bath with a shower stall, and a dressing area with a vanity/sink. There are also two additional nice sized bedrooms with a full main bath to complete the package. Updates have been made to the home that include the newer steel garage doors, 30-year dimensional roof (2004), dryer (2011), HVAC (2003), and a washer (2009). Kings Grant is also host to a dog park, nature paths, club house, jogging trails, volleyball & hockey courts, lakes for fishing, basketball, boating or swimming, tennis, and Kings Grant swim club. There is also the Rice Elementary school and Shoppes at Kings Grants. So it's the perfect area for a family home!

These are only a couple of he amazing homes on sale in the Marlton, NJ area. Feel free to browse through the listing for more amazing homes. There are literally hundred and you'll be sure to find one that fits your criteria.

Posted in New Jersey
June 3, 2015

Reliable South Jersey Real Estate

4184216102_fc7c53d149_zIf you're thinking of relocating to the South Jersey area or you're a long term resident. It's easy to appreciate the suburban lifestyle South Jersey has to offer. There are row homes, rural farmland, condos, townhouses, and more. When you're searching for the perfect place to settle down you can browse our active South Jersey real estate listings. You can browse through these listings by the county and town to search for homes for sale which meet your needs. You can even find information on the local community and town too! If you're considering purchasing bank owned homes there's some information and benefits you should know about.

Benefits to Acquiring Bank Owned Homes in South Jersey

Bank owned homes (also known as REO) can offer a lot of benefits to purchasing them. These foreclosed properties can be purchased by home buyers and investors in the first phase of default. This means before the auction takes place for the property. Investors can also purchase the property during the public foreclosure auction. The foreclosure property can also be purchased from the lending institution or bank if no one bids on the property during the public sale. At this point the bank steps in and repossess the entire property.

When the foreclosed property is purchased by the bank at the public foreclosure auction sale. The property reverts back to the bank and then becomes a bank owned REO property. At this point anyone can buy the bank owned REO. The challenge real estate investors face is being able to reach the person who can make the decision to sell this bank owned company. Each lending institution also has a variety of different requirements and rules on how they sell these bank owned real estate. The best thing to do in this situation is to contact the lender directly to find out what they require so the REO property can be purchased.

The majority of banks are eager to negotiate. The lender is the one who is taking the biggest financial stake in the foreclosed property. The lender has made an 80-100% loan to the borrower in order to purchase the property. This means the lender may end up having a growing inventory of bank owned properties that is motivated to a seller. The goal of lenders is to remove the properties from their inventories. Bank officers who work in the lost mitigation department want to work with home buyers and investors so they can minimize the bank's loss. Some investors may even call bank owned properties repossessions.

At this point lending institutions will hire real estate brokers who can market and sell their REO inventories. Small local banks may prefer to use only one real estate broker who handles their REO properties. National and regional banks that are larger can employ up to hundreds of brokers they need to handle their inventory of thousand of foreclosed bank owned REOs.

Being able to purchase a lender's real estate owned property is less complicated. There is less competition and investors and not exposed to much risk since they are buying in the phases of the foreclosure process. Investors should definitely consider working with several lenders to get the best deal on foreclosed homes.

Foreclosed Properties in South Jersey

Now that you know the benefits of purchasing foreclosed homes. Why not take a look at some of the foreclosed properties available in South Jersey?

223 5th Ave, Roebling, NJ 08554 (MLS # 6615625)

This end unit was built in 1905 and is made of timeless brick and is three stories of beauty! With its 1,212sqft home size and it's 2,091 sqft lot size there's plenty of room for everyone. There is an enclosed porch you can walk into. Enjoy the large living room/dining area that features hard wood floors and tall ceilings. There is a mud room off of the kitchen which leads to the back door. The yard is fully fenced in and could be perfect for a dog or small garden. There is a full basement so you have plenty of storage space too! The 2nd floor features three bedrooms along with an open area at the top of the stairs and a full bathroom. The third floor of this end unit is absolutely huge. It has a separate area for extra storage along with a large closet. Just a little TLC will have this home look stunning in no time! It's a short sale and the buyer will be responsible for all certifications and repairs.

11 Chestnut Ave, Pemberton, NJ 08015 (MLS # 6615030)

This adorable residential, single family home was built in 1900. There is 1,389 sqft for the home size and 22,650 for the lot size. So there's plenty of room for expansion at this home. You get a nice big half acre plot to do with as you please. The home has one floor living with three bedrooms with generous spacing. Along with a full eat in kitchen, bright bay window, 1.5 full baths, and a family room with a real wood burning stove.

This home offers a big three seasons room off the back way that can be heated easily and used year round. The back yard is also fully fenced. This home is an ideal location since it's only a short walk to the grocery store, beaches, and more! It's part of a short sale so you'll have to make your decision on this home quickly.

These are only a handful the homes available in South Jersey. Be sure to check out more on our local listings!

Posted in South Jersey
May 29, 2015

South Jersey Real Estate: A Real Estate agency in Mt Laurel New Jersey

real estate in South JerseyAfter living in an apartment for far too long, you have decided to buy a new home. Times couldn’t be better: the rent has shot up to the point that you feel that you’re being extorted; vandals and burglaries are on the rise; and the landlord has let the landscaping and repair work go to the wayside, leaving you, the tenant to repair items that you’re not necessarily comfortable, which in turn makes you question why you are paying such a high amount of money for rent in the first place. As you start to look through current listings on the Internet, you are instantly filled with dread.

A couple years ago, a couple of your close friends called in a dead panic because their home was being repossessed due to hefty mortgage payments they couldn’t afford. They also indicated that when they communicated with the lenders and the banks when they first decided to invest, they were assured that everything would work out and they could in fact afford the massive dream house they desired. While you are intimidated by the idea of having a mortgage that is more than a couple years’ paychecks, you realize that you may not have the issues that your friends had mostly because you want to try to bid on a foreclosed property.

Most of these homes could be formerly owned by people who ended up in the same position that your friends were in. This sounds like a great idea on paper, however you want to get some expert advice. At South Jersey Real Estate, we are a real estate agency in Mt Laurel, New Jersey who can help you find the perfect foreclosed or repossessed home.

 

South Jersey Real Estate: A Little about Mount Laurel Real Estate in New Jersey

Mount Laurel is a picturesque community located east of Moorestown, northeast of Cherry Hill, and west of Fostertown and Lumberton, New Jersey. It is 22 square miles of suburban bliss, where you can find numerous activities and events. If you have a green thumb and the property association doesn’t allow plants, you can simply fill out an application to become a member of the community garden. If you enjoying volunteering for your community, there are several organizations in this town: Habitat for Humanity; Make a Wish Foundation; and the Big Brothers/Big Sisters programs are just a few.
Looking at this suburban paradise, you come to realize that sadly, there is no real estate in Mount Laurel New Jersey. This isn’t necessarily true. While a lot of the properties have costs of over $300,000, when you buy a foreclosed upon property, you will slice that cost down by possibly 50%. We, at South Jersey Real Estate, do have experience in the foreclosure process and will be happy to represent you if you are interested in purchasing one of these style homes.

South Jersey Real Estate: How to Purchase a Foreclosed Property Using a Realtor in Mt Laurel, NJ

6720858879_7950757fffWhen you first meet with one of our experienced realtors, you decide to bring up the idea of purchasing a foreclosed or repossessed home. The only problem is that you don’t know how to go about it. Luckily, you’ve chosen us, one of the best realtors in Mt Laurel, NJ. We will be happy to explain the process, which we’ll also describe below.

Just like the credit card company, the bank will send a reminder to the current homeowners that their mortgage payment is due. After a couple more attempts to contact them, the bank will begin the foreclosure process. This procedure is a three step procedure, with the last step being where you acquire your home. During the first step, the newly foreclosed property is put on the market to compete with other properties that have individual sellers. This is often called the first phase of default. You can either bid upon this property at this phase or try to get a lower price by participating in the auction, the second step of the foreclosure process.

There are several steps that you should consider before attending an auction. Learn the jargon used in auctions. There are usually two types of auctions that are held; an absolute auction, where bidding is open and the high bidder wins the property. The second auction type is more beneficial to the seller; the reserve auction. This is where one of the seller has a set price in mind. If the piece is sold somewhere near the reserve, they may offer it to the highest bidder or reserve it for another auction, where they may get a better price for it.

Just like shopping for a car or any other high priced item, you want to set your base price. You can do this by looking your property up on a website that will tell you its current market price. Physically look at the property, utilizing a home inspector to note any defects. Be sure to get any repair work listed along with the costs on a list. That way when you do bid on a property, you can add the repairs to your bid. Don’t go alone: bring on of our Mount Laurel realtors with you to help you get through the process. We have been to these auctions and know more about them. Most importantly, stay calm. It is really easy to get swept up in the action of an auction, so if your base price is met or over your limit, walk away.

One last piece of advice for attending a foreclosure auction: be sure to select more than one property. That way if your property gets purchased by one of the other bidders, you don’t have to worry about being out of luck.

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Posted in Mount Laurel
May 22, 2015

Choosing a Great Cherry Hill Real Estate Agent for Investing in Foreclosed Properties

Cherry Hill Real Estate AgentIf you are considering in investing in real estate, you may be wondering just what type of real estate you should invest in. One type of real estate that is becoming very popular is foreclosed properties. Foreclosed properties are properties in which the owners have defaulted on their loan payments and the bank or lending company have taken back the ownership of the property. Repo or repossessed properties are pretty much the same as foreclosed properties but just using a different form of terminology. I repo property is very similar to a repossessed vehicle. The person that has purchased the vehicle has defaulted on their loan payments and the bank or finance company takes possession back of the vehicle.

Foreclosed properties are becoming very popular for investors. There are many reasons why foreclosed properties have become so popular. One reason is because there are so many available. When the housing market dropped a few years ago many people had trouble making their mortgage payments because the payments became too expensive for them to manage. Part of this problem was because of mortgages that had balloon payments where the amount of each payment doubled or tripled and then a large amount of money was due all at one time. Many homeowners became underwater on their mortgages as a result and were no longer able to make the payments. Banks and mortgage lending companies were foreclosing on properties at a rapid rate. Because of this, there has been a huge increase in the amount of properties available for sale.

Another reason why foreclosed properties are a great option for real estate investors is because they are very inexpensive to purchase. Banks often try to sell foreclosed properties for a very low prices in order to get rid of the properties quickly. Foreclosed properties are of no value and not a source of income for banks and mortgage lending companies. This is because mortgage companies do not make any money on properties that are not bringing in regular payments. For this reason, mortgage companies and banks will try and sell foreclosed properties for a fraction of their original selling price. This makes it very easy for investors because they end up saving money because they are not spending as much money by purchasing a foreclosed property like they would if they purchased a new property. Because of these two main reasons, Cherry Hill is a great place to consider buying foreclosed or repossessed real estate.

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Posted in Camden County
May 15, 2015

Get the Best Burlinton County NJ Homes for Sale

Getting the best home for sale is never an easy task. Everyone has a different idea of what perfection is and different features that they need in a home. Many people choose to move to Burlington County because of the wide variety of homes available. Foreclosures and repo properties can give you an excellent opportunity to move to the area and can help you get the home of your dreams at a much cheaper rate. Learn more about Burlinton County, NJ homes for sale and see how much you can benefit from getting a house in this fine area.

Burlinton County NJ Homes for Sale

Find the Right Burlinton County NJ Homes for Sale

One of the biggest benefits of choosing a Burlington County real estate agent is that they know the area well. There are plenty of cities and towns that can help suit your needs. Whether you want the easy access to Philadelphia that Moorestown offers or the quietness of Shamong, an experienced real estate agent can help.
South New Jersey also has a very wide selection of homes, condos and apartments to choose from. A Burlinton County NJ realtor can help you analyze your needs and see which types of buildings will meet your lifestyle needs. Single family homes can be found throughout the area, as well as gated communities.

Why Choose Burlington County?

A real estate agent in Burlinton County NJ will be able to explain some of the investment opportunities in the area. Not only is South Jersey a great place to work and live, it is also a place to thrive. Many people come to the area seeking affordable housing or real estate investment opportunities. Burlington County real estate New Jersey can help you find foreclosures that can help get you in a better home for less money.
Burlington County is the largest in New Jersey and includes 31 townships and 3 large cities. Because of its excellent highway system, many people choose to commute to and from work. This means that they search the entire county for their dream home, rather than just looking in a highly specific area. You will be able to find a new home that is nothing short of irresistible simply by expanding your search.

Long and Foster Real Estate has years of experience working in the area to help people find their dream homes. As a Burlinton County NJ realtor, we have detailed information on every city and township within the county. This can be incredibly useful if you are unfamiliar with the South Jersey area or are currently living out of state. Our goal is to help people find a house that suits their needs at a reasonable price.

Finding a Realtor in Burlington County NJ that Understands Foreclosures

It isn’t enough to just know the best places to look for homes in South Jersey. If you want the best price on a home, you need to start looking at bank owned properties. A bank owned property will be listed as a foreclosure, meaning that the owner has defaulted on their payments and the bank has retaken ownership of the home. In order to recoup some of the bank’s losses as quickly as possible, they list the home at a fraction of the price.

South Jersey foreclosures are very easy to find and can help you get the home you wanted much cheaper than you anticipated. A real estate agent Burlinton County NJ is able to find foreclosures for you to look at as soon as they reach the market. An experienced agent knows that these homes sell fast and that you need to act quickly in order to get the one you want.

Another benefit of finding a realtor with experience in foreclosures is that the process is slightly different. Your realtor in Burlington County NJ can explain the differences in detail; however, the biggest difference is that you are buying from a bank and not a homeowner. Homeowners may have leins on the home, misrepresent a detail in the home or simply change their mind about selling when you make an offer. Banks; however, take the extra steps to ensure the home has a clean title and are highly motivated to sell, making them less likely to change their mind or complicate the process.

Find a Real Estate Agent Burlinton County NJ Can Trust

There are several different real estate agents in the South Jersey area. It is important to work with an experienced realtor that will give you personalized attention. If you want the best Burlington County real estate agent, you will need to contact an agency like Long and Foster. Our South Jersey real estate agency is always willing to go the extra mile to help put you into your dream home.

Buying a new home should not be a complicated process. Whether you are looking for new construction or a foreclosure, a Burlinton County NJ realtor can help. Get the best prices on homes in the area or see what is available simply by looking online.
If you are ready to buy a new home in Burlington County, contact Roxanne Ardary from Long and Foster Real Estate today. You will be surprised how easy it can be to get a new home when you have the right real estate agent Burlinton County NJ by your side!

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Posted in Burlington County
May 8, 2015

Purchasing Foreclosed Property for Investment in Marlton, NJ

Investing in the real estate market is a popular way for individuals to earn residual income and build wealth. This type of investment has become popular, making it a little more difficult to land the properties you want. Understanding the basics of investing in foreclosed and REO properties can save you time and money as you jump into the investment market. Here are a few things you should understand to maximize your profit and reduce your stress:

Foreclosed Property for Investment in Marlton, NJ

Types of Foreclosed Properties

When purchasing real estate for investment, many buyers opt for homes that are pre-foreclosure, auctioned off or owned by the bank. This type of investment can save you money. There are some differences between each of these types of investments and working with agents selling homes in Marlton, NJ can help you decide which works best for you.

Pre-foreclosure: You can get some fair deals if you purchase a home during the pre-foreclosure phase, but this is the most difficult way to purchase this type of property. You will most likely spend more money than if you waited until the bank purchases the home or the home is placed up for auction and you will have to deal with the homeowners, which presents its own set of difficulties (emotional attachment, refusal to negotiate etc.). Homes in the pre-foreclosure stage are not technically for sale yet, but homeowners may be looking for a way to get rid of the home to avoid the damage to their credit. A Marlton, NJ realtor may not be involved at this point.

Home in Foreclosure: Homes in foreclosure means the owner of the property was unable to satisfy payment requirements so the bank or lender took the property back. The foreclosure process can take a while, but once it is complete, the bank/lender can auction the property off to interested buyers. There is some risk in purchasing these types of homes because the owners may have not taken care of the property and you may not have access to inspections. Talk to a New Jersey real estate agent to find out more about foreclosed properties in your area.

REO (Real Estate Owner) Properties: If a home does not sell at auction during foreclosure, the lender or bank reacquires the property. In most cases, this is the best time to buy a home because the lender or bank will want to get rid of the property quickly since it is not earning them any money. During this process, the lender may remove liens or title fees etc. and you will have access to property inspections. Working with the best real estate agent Marlton, NJ helps the lender and the buyer.

Purchasing a Foreclosed Home

Purchasing foreclosed or REO owned Marlton real estate New Jersey takes commitment, a little risk and the financial ability to invest time and money into your new property. A real estate agent Marlton, NJ can help.

For sakes of saving money, let us assume you want to purchase a home during foreclosure or after the bank has purchased the property. Both stages will save you money but both are vastly different processes.
During foreclosure, the homeowner can attempt to sell the home to pay off the mortgage or the bank takes over the property and sells the home. Once the bank takes over the property, they can place the home up for auction. The county must schedule give the public at least a 10-day notice of the sale by mail. Some states require up to 21 days before the property is eligible for auction. Depending on the sale, the county can set a minimum bid on the house or just sell the home to the highest bidder, no matter what the cost. Make sure to speak with your realtor in Marlton, NJ to know the specific rules of the county you want to purchase a home. Most auctions take place in public. The homeowner has 10 days after the purchase of a sale to reclaim the home if they can pay off the mortgage and any associated fees.

REO properties are homes that failed to sell at auction. Because the home did not sell, it is possible to get a better bargain on a home during this process. However, many of these homes could be in poor condition, so make sure to check inspection records and look at the home before you make an offer. In many cases, lenders and mortgage companies will work with real estate agents, like us, to help market and sell their property. This ensures the home gets more visibility. Because we have access to information on these types of properties, we can help you determine whether this type of investment will work for you and which of the available properties might suit your needs the best. To increase your chances of success, make sure to get prequalified for a home loan or have the purchase price saved in cash. Additionally, you should be prepared to move quickly once the lender approves the sale. Because most companies want to get rid of these properties, the process may go much faster than you anticipate.

When purchasing a foreclosed or REO property, it is essential to understand the risks and benefits of taking on this type of investment. These properties are usually sold as-is. Working with a professional agent will ensure that you save as much money as possible on your investment so you can fix up your new property to sell or rent.

Call Roxanne Ardary today to learn more about REO and foreclosed properties in South New Jersey today.

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Posted in Evesham-Marlton
May 1, 2015

What you need to know about Purchasing an REO Home

Investing in real estate can be a great way to earn residual income. Even when the housing market dips, people still need to live somewhere. You can take advantage of fluctuating market prices to find the right foreclosed or REO home for investment. Purchasing this type of home is usually the best option for investment because you are likely to get them significantly under market price. If you are interested in purchasing REO (bank owned) property for sale in South Jersey, here are a few things you need to know first:

Less Drama

One of the best parts about purchasing quality real estate in South Jersey from a bank is that you do not have to deal with the homeowners. Understandably, homeowners become emotionally attached to their homes and may try to haggle the price based on emotional perception. This is particularly true if you attempt to purchase a home while the homeowners face foreclosure. Dealing directly with the bank allows you to ignore the emotional backlash and focus strictly on the financial aspect of your investment.

Choosing a reliable South Jersey real estate lender makes it easier for you to get a property at a price you can live with. The more money you save on your investment purchase, the more money you have to improve the home and sell or rent it for income.

Money Matters

7932382540_10bc0a19b4_oWhen you purchase foreclosure homes for sale in South Jersey from a bank, how much you pay for the home is public knowledge. This means that future homeowners may have access to the information and try to haggle you down on the price to maximize their savings, which could result in less profit on your end. If you choose to rent the property this may not be as big of a concern, and many homeowners may not know about this information. However, lenders and South Jersey real estate are typically more informed.

Another concern is that banks may require more proof of financial solubility when you purchase South Jersey homes for sale through them. For example, if you make a cash offer on a home, you will likely have to provide financial statements showing that you have enough money in your bank accounts to afford the property. If you plan to get a loan, you will need a preapproval letter before you can make an offer on a home. This is fairly typical procedure but it may feel like an invasion of privacy.

Access to Home Inspection

When you purchase foreclosed or pre-foreclosed real estate South Jersey, there is a risk that the homeowners will not be willing to spring for an inspection since they are likely losing a lot of money on the house anyway. If you are purchasing the property for investment purposes, having access to a home inspections is essential. Purchasing South Jersey real estate for a discounted rate will not do you much good if you have to spend thousands of dollars dealing with unexpected damage, mold or other infestations. Access to a home inspection will let you make a purchase decision with open eyes so you come prepared for the work you will need to do on the home.

Purchasing foreclosed homes for sale in South Jersey through a bank ensures that you have access to everything you need to know about the property before you purchase it. Additionally, bank owned properties are empty. This means that you will not have to worry about navigating homeowners or tenants while you look through the house or schedule a time to look at it. This provides more freedom and accessibility to examine the home thoroughly.

Lots of Competition

Investing in real estate is a hot business because it can be extremely profitable. One drawback to purchasing REO properties is that there is a lot of competition. It is likely that you will have to make a bid for the property. You can help offset this risk by working with the best South Jersey real estate company to find you the best properties with the best chance of success.

Because banks understand the popularity of real estate investment and understand the housing market, you are not as likely to get rock-bottom prices. You will likely save quite a bit of money, especially if the home needs a lot of TLC, but you may not save as much as you think. You will have to decide if the benefits of working with a bank outweighs the complications of dealing with homeowners for potentially bigger savings.

Work with a great realtor

Whether you are new to real estate investment or you have been around the block a few times, working with the best South Jersey realtor can make finding the right investment properties a lot easier. Let us help you find the best REO or foreclosed property for investment. We can help you save money on your investment purchase and we can help you navigate the, sometimes complicated, waters of REO bids, paperwork and financial requirements. With over 20 years of experience in the Jersey real estate sector, we understand how to find the best neighborhoods, the best homes and the best deals. When you are considering real estate for a future investment, choose a South Jersey realtor that can help you tackle every aspect of the investment. Call us today to set up an appointment and we can get started on finding your new property.

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April 29, 2015

Benefits Offered by Purchasing a Foreclosed Home from a Realtor in Mt Laurel, NJ

real estate agent Mt Laurel NJ

In 2009 alone there were over 2.8 million properties in the United States in foreclosure status, which, at the time, was an all-time record. While the number of foreclosures is not near as high now, there are still plenty of opportunities on the market to take advantage of homes in this current state. There are a number of benefits offered when you work with a realtor in Mt Laurel, NJ to purchase foreclosed homes, which are highlighted here.

Foreclosed Mt Laurel, NJ Real Estate offers Bargain Prices

If you are interested in buying or investing in a home, you should realize that when you shop the foreclosed options, you will be able to get more home for your money. This is mainly due to the fact that a foreclosed home is priced under the home’s actual market value. Financial institutions and banks that take on a foreclosure want to sell the property as fast as possible, which is why the lower price is offered. This will encourage more people to make an offer on the home.

Foreclosed Mt Laurel Real Estate for Sale offers Lower Down Payments

If you want to invest in real estate, then foreclosed homes offer an excellent opportunity to get a great deal. In most cases, the down payments for these homes can be much lower since their price tags are so much lower. This makes the homes more accessible especially if this is going to be your very first home investment project.

However, investors are not the only ones who can work with a realtor in Mt Laurel, NJ to purchase foreclosed homes and reap the benefit. First time homebuyers will also find these homes appealing. Why? Because they offer a lower price tag, which means a lower down payment, which is often the biggest hurdle for first time homebuyers.

Foreclosed New Jersey Real Estate for Sale offers Better Neighbors

Another benefit offered by foreclosed homes is the fact that buyers are able to purchase homes in more expensive neighborhoods that they would otherwise never be able to afford. In fact, you may find that homes in a state of foreclosure sell for several thousands of dollars less than they would on the regular market. This can be extremely beneficial for those who want the prestige of a higher class neighborhood but cannot afford to pay full-price.

Let the Best Realtor in Mt Laurel, NJ Help You Build Wealth with Foreclosed Homes

When you purchase an inexpensive foreclosed property, with the help of a realtor in Mt Laurel, NJ, you will be able to begin building your wealth. With the foreclosed home being offered at a lower price, they are going to steadily increase in value as the years pass. When you do make the decision to sell, or if you purchased the property as an investment, you will find making a profit is easy, since the home is actually worth much more than you originally paid for it. While there are no guarantees with this, purchasing a foreclosed home offers a higher likelihood of increased value than purchasing a home at full price.

If you are interested in purchasing a foreclosed home for investment purposes, or to live in, you should definitely work with a realtor in Mt Laurel, NJ. They will be able to guide your purchase decision and help you to find the best possible deal for your dollar. This will ensure you are able to make a profit from your investment or purchase of a foreclosed piece of property.

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Posted in Mount Laurel
April 22, 2015

South Jersey Real Estate: A Cherry Hill Real Estate Agency You Can Trust

For the almost a decade, you have been living in an apartment.  Over the years, you have collected furniture pieces, knick knacks, and other home accents to attempt to rejuvenate or recreate your home to make it look and feel warmer.  Sadly, no matter what you did, you couldn’t get the warm feeling you wanted to feel when you crossed the threshold.  The other thing that you have tolerated was the lack of character in your home.  Each of the apartment spaces looks exactly like the next, with the exception of your furniture and décor.  With the landlord dictating what can and cannot be used to decorate your apartment, it was simply stifling your creativity, making you feel more like a prisoner than a resident of your own home.

Of course there are some perks such as twenty four hour repairs and no lawn maintenance, but you can’t individualize your home as much as you could in a house or condominium.  After selecting Cherry Hill as your soon to be new home city, you start to search for a Cherry Hill real estate agent that knows how to listen to your needs and wants as well as fulfill them.  Upon your first meeting, after hearing about your desire to individualize your home giving it the character you desire, they suggest looking over some of the foreclosed upon properties in the area.  If this is the type of home you are looking for, South Jersey Real Estate are the perfect Cherry Hill real estate agents to help you make your dream come true.

Benefits of Purchasing a Foreclosed Property with a New Jersey Realtor

Cherry Hill Real Estate AgencySometimes, when you hear the words “foreclosed property” you think that these are the types of houses that if you purchase it will become a money pit where you dump tons of cash into repairs and rehabilitation of the property.  The truth is that while yes, some properties do require some work an equal number of them are just as move in ready as those on the market.

Why own a foreclosed property?  There are several reasons to do so.  The first is one of the most beneficial.  In 2009, several homeowners defaulted on their mortgages due to fraudulent information that the banks provided on their loans.  Because of this, a lot of newer homes ended up defaulting back to the bank.  Banks don’t want to keep these properties, so they will put these properties up at a lower price than the market’s prices on a similar home.  Depending on the number of properties that a bank has in its inventory, they may negotiate to loan you money to put towards the purchase of the home.  Some loans have covered 100% of the property costs.  Getting a free house is pretty neat, huh?

With the help of a qualified home inspector (we recommend that all new homeowners do this in any real estate transaction), you could buy a move in ready property at fraction of the price.  Because you are working with a bank, you won’t have to be hassled by the former occupants of the property.  Sometimes, there will be instances where a seller will remove their property from the market because they’re too sentimentally attached to the property or other owner related issues.

How to Purchase a Foreclosed Property with Help from a Cherry Hill Realtor

After reading all this, you’ve decided to look into how the entire foreclosed property process works.  Just like the credit card company, the bank will send a reminder to the current homeowners that their mortgage payment is due.  After a couple more attempts to contact them, the bank will begin the foreclosure process.  This procedure is a three step procedure.  During the first step, the newly foreclosed property is put on the market to compete with other properties that have individual sellers.  This is often called the first phase of default.

The second step is the auction phase.  There are several steps that you should consider before attending an auction.  One of the first steps is the most important.  Learn what some of the jargon used in auctions.  There are usually two types of auctions that are held; an absolute auction, where bidding is open and the high bidder wins the property.  The second auction is more beneficial to the seller; the reserve auction.  This is where one of the seller has a set price in mind.  If the piece is sold somewhere near the reserve, they may offer it to the highest bidder.

Just like shopping for a car or any other small item, you want to set your base price.  Look your property up on a website that will tell you its current market price.  Take a look at the property, utilizing a home inspector.  Be sure to get any repair work listed along with the costs on a list.  That way when you do bid on a property, you can add the repairs to your bid.  Don’t go alone: bring on of our Cherry Hill realtors with you to help you get through the process.  Most importantly, stay calm.  It is really easy to get swept up in the action of an auction, so if your base price is met or over your limit, walk away.

One last piece of advice for attending a foreclosure auction: be sure to select more than one property.  That way if your property gets purchased by one of the other bidders, you don’t have to worry about being out of luck.

 

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Posted in South Jersey