Earl and The Jersey Shore

BEACH NOTES ... August 31, 2010 ... Ocean City, New Jersey

Some Essential Secrets to Home buying

Pre-qualification vs. Pre-approval When Buying a Jersey Shore Home

How Housing has Changed

Long-Term Mortgage Rates are Still Falling

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), and the findings have stated that, fixed-rate mortgages reached record lows, while the 5-year adjustable rate also remained at a record low.

The 30-year fixed-rate mortgage are at 4.36 percent. Last year at this time, the 30- year fixed-rate mortgage averaged 5.14 percent.

15-year fixed-rate mortgages averaged a recent record low of 3.86 percent. A year ago at this time, the 15-year FRM averaged 4.58 percent.

According to the Federal Housing Finance Agency’s purchase only index, housing prices look like they may be stabilizing. On a national rate housing prices rose 0.9 percent on a seasonally-adjusted basis during the second quarter of this year after 11 consecutive quarterly declines.

If you have been patiently waiting to buy a Hoboken home, now is the time to do it. All of the key factors are in place to ensure that your home purchase will be a major, positive life-changing event. With low mortgage rates now available, this is the opportunity you have been waiting for. Make 2010 the year you purchase your dream home.

For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can also be reached by phone at 201-344-2886.

Great Ideas to Improve Your Home

If you lack the funds for a major remodelthat’s okay because you can still make good positive changes to your home with just a little creativity.

For $1,000 and under are great ideas to make your current home the home of your dreams.

• Lighting can make or break your home. For under $500 you can perform a miracle in an overlooked room.
• Get rid of the overhead fluorescents and put in some recessed can lights. With a dimmer you can obtain instant mood lighting that will flatter and soften a room. To create a cozy feeling to a room, a few hundred dollars can buy you beautiful table lamps.
• A doorway is a main component of a home so shouldn’t it be a show stopper? Perhaps painting a front door with an unexpected color will give your home more personality and distinguish it amongst a row of similar homes.
• The kitchen may be crying out for cabinet organizers. For as little as $40 to $60 each, you can install a series of simple slide-out organizers that will allow you to slide out the contents of your cabinet for easy viewing. This can be very handy when you are looking for lids or cleaning supplies.
• Consider two-tier cabinet organizers to allow you to fit more in your upper cabinets.
• Furniture-piece vanities have become very affordable. There are kits available that include a modern wooden vanity, china top and matching mirror for as low as $289. Along with a new coat of paint or wallpaper you will have a new updated look for your bathroom.
• There are many options for adding knobs to cabinets. Consider faceted glass, painted ceramic or oil-rubbed bronze knobs that can give flair to any room. This is an easy and cheap way to change the look and feel of a room.
• There is nothing more lovely in a kitchen than a luxurious tile backsplash.  This will cost you a mere few hundred dollars and you can purchase tumbled marble, metal or mesh-mounted mosaic glass tiles to give life to your kitchen.
• If you are lucky enough to have a back porch you may want to consider installing an outdoor ceiling fan. It’s a great way to beat the summer heat and has an inexpensive price tag of $100-$400.
• Two of the major things that make you think of ambience and luxury are fountains or a fire element. Fountains can mask the sounds around you to make your home a more tranquil place to live.
• Gas fire pits can be a welcome element on cool evenings. Some can be very elaborate and will serve as a dramatic centerpiece of your next outdoor party.

If you have been patiently waiting to buy a Hoboken home, now is the time to do it. With low mortgage rates available, this is the opportunity you have been waiting for. Make 2010 the year you purchase your dream home.

For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City. Eddie can also be reached by phone at 201-344-2886.

Mortgage Rates and What May Move Them This Week: August 30, 2010

Bergen County New Jersey | July 2010 Sold Homes Report

Bergen County New Jersey Sold Homes Report July 2010

Below is a graph of our past month of July showing that many homes are remaining on the market as the summer months slowed down the pace of sales here in New Jersey.

July 2010 Homes Sold July




Bergen County New Jersey Past 13 Months





Bergen County New Jersey Since October 2007