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Sayreville, NJ Real Estate News

Oh, the dreaded/happy DOM question. "How long has this house been up for sale?" If it's your Sayreville & Piscataway NJ home for sale we're talking about, you're probably wondering about the split "dreaded/happy" bit. For that matter, whether you're a buyer or a seller, you're probably asking, "what the heck is ‘DOM'?"   Days On Market "DOM" is the shortened industry term for Days on Market, used by the multiple listing services (MLS). It's exactly what it sounds like: the number of days your Sayreville & Piscataway NJ home for sale has been on the market. This metric covers the time it actually goes on sale to the time the deal is closed.   Why Is DOM Important? Remember the "dreaded/happy" part at the beginning of this article? As a buyer's agent, I might gleefully answer, "Fifty days...
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By Freddie Moorer
(Weichert Realtors)
  New Years is just around the corner, and for many with Sayreville NJ homes for sale, it's the perfect time to make some resolutions. Let's be expansive, though, shall we? Don't say, "I will sell my house by April." We can be more specific than that. Here's a short list of resolutions that might help you take that home off the sales shelf:   Resolve to look over the competition. Not just one or two of the Sayreville NJ homes for sale, but ten or eleven. Look at them with the buyer's mindset. What selling points do they have? What negative points do they have? Your goal should be to outshine the competition. You can't do that if you don't know what the competition is.   Resolve to do a little home improvement. These don't have to be big projects. Your project could be as simple as addin...
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
Mortgage Interest Rates* Rates as of Thursday, 18th June, 2009:   Conforming APR Payment per$1,000 Jumbo APR Payment per$1,000 30 Year Fixed 5.75% 5.835% $5.84 6.5% 6.674% $6.32 15 Year Fixed 5.375% 5.517% $8.10 6% 6.282% $8.44 30 Year FHA 5.75% 6.432% $5.84 5.5% 6.274% $5.68 5 Year Arm 5.5% 5.584% $5.68 5.5% 5.664% $5.68 *Rates are subject to change due to market fluctuations and borrower's eligibility.       If you are anyone you know is in need of mortgage financing, give me a call direct at 908-868-0685 or email me at erodriguez@arkmortgage.com.  For your free copy of a home buyer's handbook, click here.
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
Mortgage Interest Rates* Rates as of Wednesday, 17th June, 2009:   Conforming APR Payment per$1,000 Jumbo APR Payment per$1,000 30 Year Fixed 5.625% 5.710% $5.76 6.375% 6.548% $6.24 15 Year Fixed 5.375% 5.517% $8.10 6% 6.282% $8.44 30 Year FHA 5.75% 5.835% $5.84 6% 6.169% $6.00 5 Year Arm 5.375% 5.458% $5.60 5.625% 5.790% $5.76 *Rates are subject to change due to market fluctuations and borrower's eligibility.  
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
  The proposed "Cash for Clunkers" plan I think is both good and bad.  I believe that the plan addresses more of a cleaner earth and less oil dependency objective rather than helping out the auto industry.  I think the administration is capitalizing on the current economic conditions to pass a law that they other wise would have never been able to pass.  The fact that the car dealerships are hurting allows the law to have a chance to pass more easily.  If I am not mistaken, I believe that it has only passed the house and the law is not in full affect yet. I think this is a good thing because it gives people incentives to purchase more fuel efficient cars which in the long run could be good for us by decreasing oil dependency as well as pollution. However I think that the proposed plan ...
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
Mortgage Interest Rates* Rates as of Tuesday, 16th June, 2009:   Conforming APR Payment per$1,000 Jumbo APR Payment per$1,000 30 Year Fixed 5.875% 5.961% $5.92 6.375% 6.548% $6.24 15 Year Fixed 5.5% 5.643% $8.17 6.125% 6.408% $8.51 30 Year FHA 5.75% 5.917% $5.84 6% 6.272% $6.00 5 Year Arm 5.375% 5.458% $5.60 5.625% 5.790% $5.76 *Rates are subject to change due to market fluctuations and borrower's eligibility.  
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
Mortgage Interest Rates* Rates as of Friday, 12th June, 2009:   Conforming APR Payment per$1,000 Jumbo APR Payment per$1,000 30 Year Fixed 6% 6.125% $6.00 6.625% 6.814% $6.40 15 Year Fixed 5.625% 5.832% $8.24 6.375% 6.683% $8.64 30 Year FHA 5.875% 6.067% $5.92 5.75% 5.929% $5.84 5 Year Arm 5.5% 5.621% $5.68 5.75% 5.929% $5.84 *Rates are subject to change due to market fluctuations and borrower's eligibility.     If you or someone you know is in need of mortgage financing, give me a call direct for a customized quote at 908 868 0685 or email me at erodriguez@arkmortgage.com.
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
Mortgage Interest Rates* Rates as of Thursday, 11th June, 2009:   Conforming APR Payment per$1,000 Jumbo APR Payment per$1,000 30 Year Fixed 6% 6.087% $6.00 6.875% 7.053% $6.57 15 Year Fixed 4.875% 5.015% $7.84 6.375% 6.660% $8.64 30 Year FHA 5.875% 6.067% $5.92 6% 6.291% $6.00 5 Year Arm 5.625% 5.710% $5.76 5.375% 5.537% $5.60 *Rates are subject to change due to market fluctuations and borrower's eligibility.  
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
  Emanuel RodriguezMortgage PlannerArk Mortgage IncPhone: (908) 868-0685Fax: (732) 234-3662erodriguez@arkmortgage.com How Adjustable Rate Mortgages Work During the last decade, Adjustable Rate Mortgages (ARMs) have increased in popularity among consumers. These days, few homeowners (especially first-time buyers) remain in their homes for more than seven years. In this case, it often makes sense to get an adjustable rate mortgage with a lower rate, especially one with a 5-year or 7-year fixed portion, since they won't have the loan long enough to be concerned about rate fluctuation.Adjustable Rate Mortgages have three main features: Margin, Index, and Caps. The Margin is the fixed portion of the adjustable rate. It remains the same for the duration of the loan. The Index is the variable...
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
  I came across a great deal for Atlantic City NJ at www.travelzoo.com.  It was for the Tropicana hotel and it was $59 dollars for the night.  With tax and all the fees it came out to $79.  The good part was that the $79 included two tickets to see the comic magician Kozak and included a free bottle of wine at dinner.  The offer was valid from Sunday-Thursday and so I told my wife, we took off Monday and went down.  There is no surprise that the casinos are hurting so bad that they are literally giving things away.  Because of this I expected it to be a ghost town down there, but to my surprise it was pretty busy.  We went to lunch in the Tropicana and it was a packed house, the casinos were filled with people and if you did not have dinner reservations at our restaurant, you had to wai...
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
  I have been getting a lot of calls recently from potential borrowers that either want to refinance or purchase a home that have horrible credit.  If they would buying all cash, they would still need a co signer.  I must say it has been more than usual and it inspired me to write about it.  I have seen bad credit reports before and it is not a surprise, but what is a surprise is that with all of the government iinvolvement in the housing market, people think that there is some program out there for someone who does not pay their bills.  I've heard "isn't there a program for me now that Obama is in charge," and "Obama doesn't have anything for me?"  The answer is "NO."  A bank or Obama does not have any programs for people that have three times as many collections and charge offs than ...
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
                                                          It is truly amazing to me how so many loan officers receive a failing grade from the Realtors that they work with.  For every good loan officer, there seems to be two that are terrible at what they do.  For one thing, all they want to do is sell sell sell, with out first learning about what they are selling.  Mortgages seem to be easy to put together but in reality there are many steps that need to be performed and require much training.   Just yesterday I was speaking to a Realtor friend of mine and I asked about a friend's listing that I referred to her.  The property was under contract and should have closed about a week ago.  Well I called her to see how the closing went and she said "oh we never closed."  I said "what?!?"  S...
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
  According to www.newjerseygasprices.com the average state price for regular unleaded gas today is $2.406.  Just last month the average price was $1.985.  That is a an increase of 21.2%!  Laws of supply and demand suggest that oil prices should stay at lower levels because of the global economic slowdown and the severe decrease of oil demand.  But why are they still going up?  My view is that speculators are at it again.  Speculators buy future contracts of oil based on their expectations of supply and demand.  If speculators think that the economy will pick up a year from now, they will buy oil at today's price to sell it at a future day in hopes of a higher price and of course profits.  Oil traders 9 times out of 10 never take possession of the oil and sell it sometime between the t...
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
  Mortgage rates went up again today and it seems like there is no end in site.  Today the unexpected good number in jobless claims created a bad atmosphere for bond trading.  This good economic number of jobs lost signals that the economy may be turning around and you know that when that happens, inflation is likely.  So if inflation is likely, then bond investors will require a higher demand because inflation will eat up at their returns. Remember that the bond investor knows he/she is only getting a low fixed payment for 30 years.  If the inflation rate is ticks up higher and higher and prices tick up an up, then investors lose purchasing power on their fixed payment.    So will we ever see 4% mortgage rates again?  It does not look like it.  With the increased supply in bonds availa...
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By Emanuel Rodriguez
(Ark Mortgage Inc.)
Hello All, This Morning the Pending Home Sales Number came out.  This statistic comes out on the first week of every month and measures the number of homes that are "pending" sale, in other words, under contract.  In the month of April, Houses that were under contract in the United States rose to 90.3 which is up 6.7% from last month.  A score of 100 is average activity from 2001-2004. What this means is that the buyers are out in full force and are putting homes under contract.  It is believed that buyers are really taking advantage of the $8,000 tax credit and understanding that in order to receive it, they must close on their house before December 1st 2009.  The really good news for us in the Northeast Market is that Pending Home sales rose 32.6% in the month of April to 78.9.  Altho...
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By Lee Parker
(RE/MAX Best Realty)
These tough times sometimes bring out the worst in people. Did you ever notice that when you point the finger at someone, 4 are pointing back at you! If I were a seller I would beware of the agent who changes office and affiliation as often as they change their socks. when interviewing a potential listing agent I would ask: Are you also working another job? How many Real Estate companies have you been with in the last 5 years? How many different offices have you been with in the last five years? When did you start with your current company?
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By Gene Ryan
(RE/MAX Legendary Homes)
June 28th 20074:00pm to 7:30pm rain or shine1880 Route 35, Sayreville NJHot Air Balloon Rides (weather permitting) Food and DrinksGames and PrizesAll Day GiveawaysTours of Our Brand New OfficeTips & Tricks To Buying & Selling Real EstateAnd So Much More!!!!ALL Proceeds to directly benefit the Children's Miracle Network and the Susan G Komen Foundation.Come enjoy a day of fun and help us as we continue to support our community!Call Maureen at (732) 654-1200 with any questions.
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