Making Your Real Estate Dreams Come True

Posts tagged ‘buying a home’

Memories of Bowcraft

 Author’s Note: Team Zuhl is not affiliated with the owners of Bowcraft or the Purchaser of the property. 

With the Bowcraft property being sold (not by Team Zuhl) it appears that the amusement park will be razed.  The current plan is for an apartment complex to be built on the site.

I grew up in Cranford, and in my youth, Bowcraft was a place where I spent many, many days.  Riding the rides, when I was a bit older (probably 17) we would go there for the arcades and mini-golf.  I have fond memories of bringing my nieces and nephews there and my own children got to enjoy Bowcraft in their younger years also.

So now, it is going to be a memory.  But a memory will be kept alive as long as people keep talking and sharing about it.

Here’s where you come in.  Please leave your memories and photos about Bowcraft in the comments below.  I’m sure that even though we will all miss Bowcraft, sharing these memories will help keep Bowcraft alive and will brighten the faces of many young and old.

As soon as we find out any new information about the site, we will post it here or on our website: http://www.waynezuhl.com/ 

All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers’ clients. We cooperate with them fully. 

The Spring Real Estate Market Report for Linden, NJ – May 2016

 LindenMAY2016

If you are a buyer or a seller interested in a home in Union County, please call Team Zuhl! We’re happy to help you in all of your real estate needs!

For more information on the Linden Real Estate Market:

Cranford Real Estate Market Report – May 2016

cranford-may-2016-real-estate-market-report

If you’re planning on selling your Cranford home, call Team Zuhl today for a free comparative market analysis of your home. If you’re thinking of buying a home in Cranford, call us today!

For more information on Cranford Real Estate:

Clark Real Estate Market Update

clarkMAY16

 

If you are a buyer or a seller interested in a home in Clark, New Jersey, please call Team Zuhl! We’re happy to help you in all of your real estate needs!

For more information on selling a home:

For more information on Clark and Clark Real Estate:

Scotch Plains Real Estate News – November 2015

Scotch Plains is a township in south western Union County. It is home to nearly 24,000 people.

There are currently 168 homes offered for sale in Scotch Plains, ranging in price from $184,995 to $1,888,000 – something for every budget. Twenty homes were sold in October, slightly lower than the 12 month average of 28 homes.

Homes in Scotch Plains were sold in October after an average of 63 days on the market. The average sale price was  $610,389, significantly higher than the 12 month average of $512997.

scotchplainsnov2015

If you’re planning on selling your Scotch Plains home, call Team Zuhl today for a free comparative market analysis of your home. If you’re thinking of buying a home in Scotch Plains, call us today!

For more information on selling a home:

 

For more information on Scotch Plains Real Estate:

Cranford Real Estate News – October 2015

Cranford is a township in Union County that approximately 23,000 people call home.

There are currently 95 homes offered for sale in Cranford ranging in price from $179,000 to $1,299,000 – certainly something for everyone. Inventory is starting to drop which is normal in the autumn, but the blue trendline in the following graph shows that inventory over the last 3 years is rising. Eleven homes were sold in October – low compared to the previou 12 months but still increasing over the last 3 years as shown in the red trendline below.

 cranfordINVENTORYoct2015

The average sale price of a home sold in Cranford in October was $419,820, lower than the 12 month average of $444,545.

cranfordPRICESoctober2015

Homes in Cranford continue to sell quickly. The average home in Cranford was sold after 32 days, faster than any other month since october of 2013 and significantly faster than the 12 month average of 52 days.

cranfordDOMoctober2015

If you’re considering listing your home for sale, it’s smart to be sure that it compares favorably to others on the market at this time. Make necessary repairs, perhaps even invest in small upgrades, and your home ay sell quicker and at a higher price.

If you’re planning on selling your Cranford home, call Team Zuhl today for a free comparative market analysis of your home. If you’re thinking of buying a home in Cranford, call us today!

For more information on selling your home:

 

For more information on Cranford Real Estate:

What does “Dual Disclosed” mean?

When you work with a Real Estate agent, the term “agency relationship” may confuse you. Here’s a short explanation of the three types of agency relationships:

Buyer’s Agent: When you are planning to buy a home, you will work with a buyer’s agent. The agent that you choose has fiduciary responsibility to you. In other words, the agent will work for your best interests and will provide reasonable care, loyalty, and confidentiality. With a buyer’s agent, you can trust that s/he will not reveal information that may impact negotiations.

Seller’s Agent: When you are selling your home, you will work with a seller’s agent. The agent that you choose will have fiduciary responsibility to you. S/he will be responsible for providing reasonable care, loyalty, and confidentiality to you within the confines of the law.

Dual Disclosed Agent: When the same agent represents the buyer and the seller, the agent has fiduciary responsibility to both parties. S/he can not reveal anything confidential that may impact negotiations and must work in a way that helps both parties reach a meeting of the minds without compromising one party over the other.

What’s the most important factor in choosing an agent? Trust. Second most important factor? Competence.

For more information:

What’s Included in a Mortgage Payment?

When you found your dream home, you used an online mortgage calculator to determine what your monthly payments would be.  You may be surprised to know that your mortgage payment is not only the money you owe for buying your home. It actually includes several other payments that must be made on a monthly basis, thereby increasing your monthly mortgage payment.

What’s included in a monthly mortgage payment?housecalc

Principal – A portion of the money you borrowed to buy your home is due each month. Depending on the structure of your loan, your principal amount will increase each time you make a payment.

Interest – The mortgage lender will charge you interest. The amount of interest you pay each month decreases the same amount that the principal increases, keeping the Principal and Interest portion of your mortgage payment the same from month to month.

Real Estate Taxes – When the mortgage lender owns most of your home, they will pay the real estate taxes from your escrow. Each monthly payment will include 1/12 of your total real estate tax bill. The mortgage lender will ensure that the payment is made each month.

Insurance – When the mortgage lender owns most of your home, they will require that you maintain a homeowner’s insurance policy to protect their interest. Each monthly mortgage payment will include 1/12 of the total annual insurance cost and the mortgage lender will ensure that payment is made each month.

Private Mortgage Insurance – Buying a home with a smaller downpayment creates a greater risk for the lender. To compensate for that risk, the lender will require that you pay Private Mortgage Insurance. This will increase your monthly mortgage payment.

Do Mortgage Rates affect when you buy a home?

The factors that people use to determine when they are ready to buy a home are probably as varied as people themselves. But there are two factors that are prominant in making this decision:

  • Family situation – new baby, new marriage, new job, retirement
  • Financial situation – savings for downpayment, paid off student loans, inheritance

I’d like to suggest that potential buyers consider a third factor – mortgage rates. While there is no magic crystal ball, economists can use historical data and economic data to predict how mortgage rates will change.

Most economists predict that mortgage rates will be about one point higher in 2016 than they are in 2015. How does that affect your buying power?

Waiting to buy your home until 2016 will cost about $59 more per month or $21,260 more over the lifetime of the loan compared to buying a home today.

So what are you waiting for?

mortgageratesjuly2015

Buying and Selling a Scotch Plains Home – July 2015

Before you buy or sell a home in Scotch Plains, your first step is to understand how the real estate market is performing. Here’s what you need to know this summer.

Inventory: There are currently 176 homes offered for sale in Scotch Plains. This is pretty normal for Scotch Plains – you can see in the graph below that every sumer has a peak inventory of roughly 175 homes. The summer market is definitiely heating up.

scotchplainsINVjune2015

Prices: The average price of a sold home in Scotch Plains in June was $472,235. This is 8% higher than June of 2014 when the average sale price was $439030 but 8% lower than the 12 month average of $508,310. What’s happening? There’s a definite up-trend over the past year as the real estate market continues to settle, and you’ll notice that the peaks and valleys are less extreme now than they were three years ago.

scotchplainsPRICEjune2015thisoneisajpeg

Sellers who want to get top dollar for their home will want to be sure that their marketing is on point and that their home is appropriately priced. Buyers who are looking for a bargain in Scotch Plains will want to do their research. When you find the home you want to buy, be sure that your offer is competitive because there are many multiple offer situations this summer.

 

Days on Market: The average sold hom in Scotch Plains was sold after 56 days on the market. Looking at this graph of the past 3 years, it’s easy to see that things have improved quite dramatically although there are still some bumps in the road.

scotchplainsDOMjune2015

Home sellers who are interested in selling their property quickly will need to be sure that the home is priced correctly. Overpriced homes sell much more slowly, if they sell at all. Condition also affects the speed at which a home will sell. Homes that are cleaner, more up to date, and in better condition will sell faster than others.

 

If you’re planning on selling your Scotch Plains home, call Team Zuhl today for a free comparative market analysis of your home. If you’re thinking of buying a home in Scotch Plains, call us today!

For more information on selling a home:

 

For more information on Scotch Plains Real Estate:

Tag Cloud

%d bloggers like this: