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Recent Blog Posts by Gilbert Lopez

Distressed Property: The Impact on Home Values

This article appears in the KCM Blog (see below link) "Contrary to the alarming nature being used in reporting that appraisers are killing deals, I would bet that most of my peer appraisers are not seeking the lowest possible sales to use in their appraisals. They are searching the data available in the real estate market for the best comparables out there. But the reality is that good comparables ...
Posted by Gilbert Lopez @ 3:06 PM on 08/23/2011
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10 Best States For Children (New Jerfsey #5)

Which states rank the highest as best places for children to live? The 2011 Kids Count Data Book by The Annie E. Casey Foundation recently ranked 50 U.S. states based on social, health, and economic factors affecting children. Each state was given a score based on such factors as infant mortality rates, child and teen death rate, percentage of children in school, and the number of children below the ...
Posted by Gilbert Lopez @ 3:02 PM on 08/23/2011
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Bi-weekly MOrtgage Payments

Should you pay your mortgage bi-weekly? Maybe. Bi-weekly mortgage payment programs are something that many people take advantage of and seem to be happy with. The most common reason people give me when I talk with them about bi-weekly mortgage programs is that they want to pay their house off early and bi-weekly programs seem to match up well with their paycheck schedule. If you get a regular paycheck ...
Posted by Gilbert Lopez @ 8:32 AM on 07/25/2011
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Freddie Mac Weekly Survey of Mortgage Rates (Week Ending July 21)

Mortgage rates continue to hover around yearly lows and were mostly unchanged this week, amid mixed economic and housing reports, Freddie Mac reports in its latest mortgage market survey for the week ending July 21. "Although both the overall producer price index and consumer price index fell moderately in June on lower energy costs, the core price indexes inched up," Freddie Mac Chief Economist Frank ...
Posted by Gilbert Lopez @ 8:29 AM on 07/25/2011
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Warning Signs of A Bad Real Estate Agent

When you're looking to buy or sell a home, the right real estate agent can make a huge difference. Good real estate agents are well connected, understand the local market and can help you negotiate the best housing deal possible. A bad agent, on the other hand, can cost you time and money--not to mention become a source of unneeded frustration. So how do you know a good real estate agent from ...
Posted by Gilbert Lopez @ 7:03 AM on 07/22/2011
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Closing Costs Rise as House Prices Fall

"Nationwide, the average origination and title fees on a $200,000 purchase mortgage totaled $4,070, according to Bankrate's annual survey of closing costs. That's an 8.8 percent jump compared to 2010 when the average closing costs totaled $3,741." "Most of the jump in closing costs is tied to fees charged directly by lenders... Fees imposed by third parties, including title, appraisal, postage/courier ...
Posted by Gilbert Lopez @ 6:59 AM on 07/22/2011
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FSC and SFI Certification For Wood - What is the Difference?

Shopping for wood countertops, cabinets or doors?  FSC and SFI are two green certification you need to understand.  Click on the below link which will take you to an article on Houselogin - a NAR website. WOOD CERTIFICATION
Posted by Gilbert Lopez @ 9:16 AM on 06/22/2011
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7 Steps To Take Before Buying A Home

If you are considering taking advantage of the low mortgage rates and home prices, this checklist will help you "touch all the bases" before you buy your home.  This article and inbedded video was published on Houselogic - a NAR website. 7 STEPS
Posted by Gilbert Lopez @ 9:00 AM on 06/22/2011
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HONG KONG LAND SALE JUST MISSES A RECORD

Since Hong Kong is one of the most densly populated areas in the world, real estate costs are astronomical compared to the US. Recently an auction of prime residential property went for $1.5 billion dollars which is equivalent to $26,763 per sq ft. - OUCH!!!! The estimated cost (once the project is completed) could be $40,000 per sq ft. Unreal.  CLICK ON THE BELOW INK TO READ MORE OF THE STORY ...
Posted by Gilbert Lopez @ 7:31 PM on 06/13/2011
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WHAT WILL BE THE IMPACT OF QRM (QUALIFIED RESIDENTIAL MORTGAGE PROPOSAL)?

In the current market, 1st time buyers make up a significant proportion of transactions while "trade-up" buyers have been reluctant to make a move. Since well over 80% of the 1st time buyers do not have the resources to make a 20% downpayment, this proposal would have a devastating impact on the market. It is a classic case of the pendulum swinging too far in the opposite direction.  Click on ...
Posted by Gilbert Lopez @ 7:28 PM on 06/13/2011
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IS IT TIME TO BUY A HOME?

This is a very thorough article in the Wall Street Journal which explores the question about making a home purchase in this market. It touches on Demographics, Affordability, Employment, Credit, and Psychology. Unlike many other recent articles by real estate agents or by REALTOR Associations (groups with an obvious agenda) this article makes an objective case for home ownership. TIME TO BUY
Posted by Gilbert Lopez @ 10:10 AM on 06/06/2011
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WHAT IS THE FUTURE FOR HOME PRICES?

Why do housing reports issued within a short period of one another reach different conclusions about the same set of statistics such as home prices? This artice highlights the cause for this apparent inconsistency. HOME PRICES
Posted by Gilbert Lopez @ 10:05 AM on 06/06/2011
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QUESTIONS TO ASK BEFORE BUYING AVACATION HOME

In this market there are some great bargains, even for vacation homes. When buying a vacation home there are some considerations that could increase the cost of home insurance if they are not addressed up front. This artilce highlights questions that a prospective buyer should focus on when evaluating a property for purchase. VACATION HOMES
Posted by Gilbert Lopez @ 9:58 AM on 06/02/2011
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HOW TO GUARANTEE SAVINGS WITH A NEW MORTGAGE LOAN

This article covers two important discussions (1) the perils of refinancing a home prior to putting it on the market (2) the ability to lock in a favorable mortgage interest rate when buying a home. Refi before sale
Posted by Gilbert Lopez @ 9:49 AM on 06/02/2011
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NEW US CENSUS FIGURES FOR NEW JERSEY SHOW GROWTH IN HIPANIC & ASIAN POPULATIONS

Interesting NJ statewide demographic stats from the 2010 census. While the headline is about growth of the Mexican population +115,000 (112%) since 2010, the growth in the Asian Indian population has been as dramatic +123,000 (73%).  Click below to read the article as appears in the Star Ledger. CENSUS STATS
Posted by Gilbert Lopez @ 11:30 AM on 05/26/2011
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MEMORIAL DAY PARADES IN CENTRAL JERSEY

This coming weekend we celebrate Memorial Day by recognizing the sacrifices that our servicemen and women have made to keep our nation safe and secure. It is a 3 day weekend marked by barbecues, trips to the pool/shore and of course parades. If you want to attend one of the many local parades or possibly avoid the traffic congestion caused by them, the following are details for them: METUCHEN - Scheduled ...
Posted by Gilbert Lopez @ 2:51 PM on 05/25/2011
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HAVING DIFFICULTY PAYING YOUR MORTGAGE? THE NJ HOMEKEEPER PROGRAM MAY BE JUST WHAT YOU NEED

Are you having difficulty making your mortgage payment because you have lost your job or because your employment income has been reduced? Are you looking for work but need short-term assistance to help you keep your home until you can find it? Or are you making your mortgage payments without a problem now but have arrearages due to a recent period of unemployment or underemployment? Help may be available ...
Posted by Gilbert Lopez @ 1:50 PM on 05/18/2011
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BUYING A HOUSE AT FORECLOSURE

You can buy a home at a significant discount at a foreclosure auction, but you’ll face a host of challenges. Don’t get burned; be solutions-ready.  If you want to get a good deal at a foreclosure auction, know what you’re buying and how you’ll be expected to pay for it.  Start by understanding the foreclosure auction rules for your area. State and local governments ...
Posted by Gilbert Lopez @ 1:43 PM on 05/18/2011
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BEFORE BUYING A CONDO THERE ARE A NUMBER OF CONSIDERATIONS TO MULL OVER

Don't buy a condominium out of desperation or frustration because you can't afford your dream house. A condo should not be a conciliation prize. Buyers should purchase a condominium with deliberate intention. A condo should be the obvious choice when the buyer understands how and why condominiums offer a viable real estate ownership option. Then, with professional guidance, the task is to discover ...
Posted by Gilbert Lopez @ 7:20 AM on 05/17/2011
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Three Reasons Why Every Homeowner Needs Title Insurance

Today's housing market makes title insurance more important than ever.Sloppy foreclosure procedures, corner-cutting sellers and flat-out fraud are a growing part of today's real estate world. The only thing standing between you and very heavy losses may be your title insurance policy. Here are three reasons why homeowners need to protect themselves and their investment with title insurance:Read more: TITLE ...
Posted by Gilbert Lopez @ 6:31 AM on 05/11/2011
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LET'S MAKE HOMEOWNERS A PRIORITY

Nobody likes to be told what to do, and that is especially true for banks. After bearing much of the blame for the financial crisis - and getting bailed out as punishment—banks have seemingly been slapped with regulation reform after regulation reform.According to the wall street journal - banks are facing a new deadline - of about six weeks. Fourteen mortgage  servicers have until mid-June ...
Posted by Gilbert Lopez @ 10:53 AM on 04/30/2011
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COSTLY HOMEBUYING CONTRACT ERRORS

When buying a home, mean what you say and say what you mean when filling out the contract.That's the advice of lawyer Jeff Marks, a partner with Ryan and Marks Attorneys LLP in Jacksonville, Fla. A real estate dispute in the Sunshine State illustrates his point. Click on the below link to read this article HOMEBUYING CONTRACT ERRORS
Posted by Gilbert Lopez @ 2:54 PM on 04/27/2011
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Reason Why Sellers Should Hire Their Own Inspector

I have always advised listing clients to have a home inspection before listing the property. Its better to be surprised before the home is listed rather than when you are under contract and risk losing a buyer.  Check out this article for reasons why hiring a home inspector is a great investment for a home seller. HOME INSPECTORS FOR SELLERS
Posted by Gilbert Lopez @ 2:48 PM on 04/27/2011
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Condo Mortgages - A Checklist of What to Watch For

Condos tend to be affordable entry level homes for 1st time buyers; however, this article clearly points out considerations that sometimes makes these properties more difficult to get financing from a bank or mortgage co.  CONDO MORTGAGES
Posted by Gilbert Lopez @ 2:35 PM on 04/27/2011
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Real Estate by the Numbers: Week of April 9 – April 15

A quick rundown of the important real estate news from the week of April 9 – April 15, by the numbers: 27% – Percentage drop in foreclosures notices in the first three months of 2011 compared to the first quarter 0f 2010. “The explanation for this contradiction is that the foreclosure improvement has been artificial, fueled by banks reacting to paperwork processing issues — ...
Posted by Gilbert Lopez @ 11:20 AM on 04/20/2011
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