If you recall, in my last ezine, I spoke about the market being very active.
I am happy to report that this activity has continued.
We have seen many home buyers out there ready, willing and able to move forward with a home purchase.
Here are some statistics: In Maplewood, there are currently 70 homes under contract, 30 of them have gone under since May 15th.
In South Orange, there are currently 48 homes under contract with 23 of them since May 15th.
In Millburn/Short Hills, there are currently 59 homes under contract with 30 of them going under since May 15th.
In West Orange, there are currently 105 homes under contract with 50 of them since May 15th.
In Montclair, there are 91 properties under contract with 37 of them since May 15th.
These are very impressive and encouraging numbers.
Not only are we seeing movement in the lower end of the market, but we are also seeing some movement in the higher ends as well.
Once again, the key to a fast sale and to getting the most money in your pocket is a fair price and a house that shows like a model.
I can help you through the process very easily with my team of stagers.
Assignment If you know anyone who has been thinking of buying a home instead of remaining in the rental market, please send them my way.
I have access to some of the best mortgage people around.
Many first time buyers are out there taking advantage of the First Time Homebuyers credit.
This is an $8,000 credit on your tax return.
In some instances, borrowers who use an FHA loan can actually get advances from their lender that effectively allows them to receive this credit in advance.
FHA loans require only a 3.
5% down payment.
This credit cannot be used for the minimum down payment but can be used as an additional down payment or for closing costs.
You must purchase your first home by December 1, 2009 to qualify.