Category: Uncategorized
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New Jersey Apartment Construction 2024-2028
New Jersey expected to complete approximately 42,000 new apartments by 2028. New Jersey remains a significant metro area for apartment construction in the U.S.
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How High Are NJ Inheritance Tax Rates in 2024?
Inheritance taxes are paid by heirs and are based on both the relationship to the heirs as well as the value of the estate.New Jersey inheritance tax applies to all inheriting property located in the state.
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How Many Mortgage Payments Can I Miss Before Foreclosure?
You can typically be delinquent on your mortgage for 120 days before foreclosure begins, though this varies by lender and market conditions. Generally, foreclosure starts after four missed payments. Lenders prefer to avoid foreclosure due to its costs and may offer options to help you stay in your home. The process includes a grace period,…
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Benefits of 2024 Fall and Winter for NJ Homebuyers
Autumn sees determined sellers open to negotiations in NJ, accepting lower prices in September through November. In winter, housing prices drop and reduced competition helps you find negotiable deals on your dream home.
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Mortgage Rates Plummet Again: Is This Your Golden Opportunity to Buy or Refinance?
Mortgage rates have fallen, with the 30-year fixed-rate mortgage now at 6.46% and the 15-year at 5.62%. Despite this decline, experts caution it may not trigger the anticipated housing boom. Buyer applications have decreased, indicating a wait-and-see approach among potential homeowners. Refinance applications are down weekly but up 90% year-over-year. Existing home sales rose 1.3%…
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How to Find the Best Mortgage Lender
When comparing lenders for a mortgage, ask questions to narrow down the list. Good lenders explain their recommendations and have a clear process. Consider factors beyond rates, like the lender's communication style. Ask about loan estimates, required information, preapproval process, available loans, recommended options, closing time, communication methods, in-house processes, community involvement, and cultural understanding.…
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How Much to Buy a Home in NJ in 2024?
The median home price in NJ is $550,400, over $100K higher than the national avg. For a $550,400 home with 20% down payment, monthly mortgage payments would be ~$2,870.
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Important NJ ANCHOR Relief Updates for 2024
ANCHOR offers property tax relief to NJ residents based on income and principal residence status. Last season, over $2.1B in benefits went to 1.8M residents, ranging from $450 to $1,500.
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New Jersey Property Taxes Exceed $10K
New Jersey has the highest effective property tax rate in the U.S. at 2.08%. Median property tax bills in New Jersey counties exceed $10K; some are over $9K.
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How To Get the Best Mortgage Rate (2024 Guide)
A high credit score is essential for securing favorable mortgage rates, with scores in the 700s typically qualifying for the best offers. Increasing your down payment can also lower rates and eliminate private mortgage insurance. It's important to compare rates from various lenders, including local banks and online options, to find the best deal. Strategies…