When interest rates climbed up and up in 2023, many buyers decided to wait for rates to come back down again. When they kissed the 8% mark, buyers really tightened their reins. However, was that really the best idea? Not necessarily. With the new year (and a recent announcement by the Fed of as many […]
Using Your Home Equity to Buy a Second Property
Like much of the rest of the country, Jersey Shore home values rose significantly over the past few years. In fact, the Philadelphia Business Journal reported that our very own Margate was the highest-ranking New Jersey town on their list of home value increases, coming in at #16. Home values rose over 80% in the […]
Priority Tasks for Your Move In
Moving into a new Jersey Shore home is an exciting time. Right about now, you’re probably daydreaming about decor, paint schemes, and new furniture. But before you start in on the fun stuff, you need to cover some of the priority tasks first. Priority Tasks for Your Move In Change the Locks Even if you’re […]
How to Boost Your Credit Score
Many people make New Year’s resolutions. Did you? Some of the most popular ones focus on health, mindfulness, and finances. If “buying a new Jersey Shore home” is on your list, then let’s talk money. You need to save up for your down payment and closing costs. And you’re going to need to make sure […]
Which Down Payment Strategy is Right for You?
You’ve most likely heard financial experts suggest that you save for a 20% down payment before you buy a Jersey Shore home. The logic behind saving 20% is solid. It shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders. (As […]
Jersey Shore Home Buyers: Buy Now or Wait Til Spring?
Earlier this week, the Federal Reserve raised the Federal Funds rate by one-half of a percentage point. That puts the current rate between 4.25% and 4.5%. Now, the Fed’s rate does not directly correspond to mortgage rates. As of the writing of this post, Freddie Mac shows interest rates for a 30-year, fixed-rate mortgage at […]
Your Guide to a Jersey Shore Home Appraisal
You’ve found your dream home at the Jersey Shore. Now it’s time to cross all your T’s and dot all your I’s before it becomes all your own. And one of the first items on your closing checklist you need to tackle is the home appraisal. But what exactly is that? Your Guide to a […]
How to Handle a Low Appraisal When Buying a Home
You decided to buy a Jersey Shore home. Congratulations! If you need to get funding for your purchase, your lender requires that an appraisal be performed. They need to know that the property is at least worth the amount you borrow for it. Otherwise, they could deny you your loan. But what happens if they […]
How a Rent-Back Agreement Helps Home Sellers
A hot seller’s market is great when you are the one selling a Jersey Shore home. Multiple offers. Fast sale. Awesome! But sellers become buyers. Then, they face the same struggles that the person who bought their home faced. Stiff competition. Low inventory. Potentially long wait times to find a home and get their offer […]
Top Tips for House Hunting Online
Hunting for a new Jersey Shore home online is a great place to start your search, but it should not be your end all be all. Good listing agents in the Downbeach area are excellent at highlighting the best features of the home, but keep in mind there may be more than meets the eye. […]