The Stephen Wible Team Blog

South Jersey foreclosures are a sad fact of life. The truth of the matter is that, for many, even loan modification isn™t an option. When faced with foreclosure or short sale, how do you decide which is best? While short sales have been pushed by many as a viable option, it™s hard to know what™s best for you. Here are some facts about the consequences of both:

Your Credit

While both South Jersey foreclosures and short sales will affect your credit score, the differences are wide. A foreclosure can affect your score for as long as three years or more, and lower it as much as 300 points. The foreclosure can remain on your public history for over ten years.

However, only late payments show on your credit with a short sale. Your score can drop as little as 50 points and be affected for as short as one year. In addition, it isn™t reported on your history; it will show that the mortgage was settled and paid in full.

Your Job

On its own, a short sale generally doesn™t affect your employment. However, a foreclosure is a different story. Some employers regularly check their employees™ credit records. As well, many require credit checks for new hires. A foreclosure on your record can jeopardize your current position or future opportunities, as well as cause the revocation of a security clearance.

Judgments

In the event of a foreclosure, many banks have the right to try and get a deficiency judgment, stating that you have failed to pay the entire amount of the mortgage. With short sales, however, lenders will normally agree to give up the right to that judgment and put it in writing.

Lastly, keep in mind that South Jersey foreclosures generally close below the price they would get from a short sale, so the remaining balance might be significantly higher with a foreclosure.

If you want to stay out of foreclosure through short sales, I can help. Call me at 856-321-1212 x268, email me at stephen@soldin73days.com or visit www.SoldIn73Days.com for more information.

Sometimes, just sometimes, it seems that people don™t really want to sell their home.   They put the œSouth Jersey Home for Sale sign up in the yard and then steadily push potential buyers away.   If you don™t want to sell your home, here are a few ways to get rid of the nosy buyers:

1.  Open houses “ Especially if you™re using a real estate agent, your home will be open to the public (i.e. buyers).   The best way to discourage these buyers is by making sure you™re there to point out all the flaws and issues you™ve had while living there.   They™ll eat it up and walk away.

2.  Curb appeal “ Weeds can cover up a beautiful lawn like nobody™s business.   Putting away the lawnmower, garden sheers and weed eater is an excellent way to ditch potential buyers.

3.  Painting the house “ Every article written by a real estate guru on œhow to market your South Jersey home for sale will tell you to paint your house in neutral colors if it needs to be repainted.   Therefore, it stands to reason that if you™re playing œditch the buyer, the best thing to do is pick a color that screams, œHere I am!   No worries.   Once you know for sure your house won™t sell, you can always repaint.

4.  Clearing the house “ It™s a known fact that buyers like to be able to see themselves living in the house.   Your job is to go around and put up as many knick-knacks and pictures as possible to let them know it™s YOUR house.

Of course, if you™ve put up your South Jersey home for sale, chances are you do want to sell it.   Pay attention to the above and make sure you aren™t pushing clients away.   If need be, ask your real estate agent to go over the house with you and provide suggestions on how you can improve your home™s buyer appeal.

If you™re trying to sell your home and want it to be marketable, I can help.   Call me at  856-321-1212 or email me at  stephen@soldin73days.com for more information.

As a South Jersey real estate agent, I get to meet people from all ends of the spectrum: buyers, sellers, renters, etc. I also come across other agents, and it constantly amazes me at the different outlooks surrounding the real estate profession. Many buyers think sellers and real estate agents are out to stiff them. On the opposite side, many sellers think buyers and agents are out to stiff them. Unfortunately, even some agents think both are out to stiff them.

I know they say “it™s a dog eat dog world”, but if everybody was truly out to stiff everybody else (rather than just get a fair deal), nothing would ever get done. There™s a big difference between a good agent and a crummy agent. So, maybe we all need to be reminded of what a good South Jersey real estate agent really is:

Your agent is your business associate. They are in the business of finding what you need, whether it™s a house to buy or a buyer for your house. As a business associate, they look for the best deal for you, because the best deal for you is the best for them.

Your agent is your negotiator. This goes along with the first, but is more in depth. For instance, if you™re looking at new construction and the builder has a “buyer™s agent”, do you really think that agent is there to help you get the best deal? No, they™re there to help the builder get the best deal. That™s why you have your own agent there “ you know they™re on your side.

Your agent is your friend. Especially when you™re having problems selling your house, you™ll have a lot of worries. A good South Jersey real estate agent will be there to listen to them and either a) relieve your worries or b) be understanding of them.

As real estate agents, we understand that selling a house isn™t easy. We understand that buying a house can be stressful. We even understand that you may be stuck in a situation you™d rather not be in, such as during a foreclosure. Good agents aren™t just agents; we™re good friends.

If you need to sell your home or are looking to buy one, I’d love to help you. Call me today at 609-221-0921 or visit www.SoldIn73Days.com

As most South Jersey real estate agents will tell you, remodeling, decorating or repairing your home can go a long way towards getting it sold.   For that matter, it can add value to your property in case you want to sell later “ that is, if you don™t choose the wrong places to buy cheap:

¢  Windows “ Never buy a window based on which one is cheapest.   You want windows that look good, and, as most South Jersey real estate agents will recommend, you want energy-efficient windows.   During 2009 and 2010, you may be eligible for a Federal Tax Credit for Energy Efficiency of up to $1500 when you purchase Energy Star windows.

¢  Paint “ Paint is one of the biggest places people skimp when it comes to cost, and a big no-no.   Cheap paint may take several coats to look right; those several coats can end up leaving blotches and runs.   In addition, cheap paint has a tendency to peel or wash off under light cleaning.   If you™re going to add painting to your remodeling or repair work, quality is always better.

¢  Doors “ Whether it™s for a shower or a screened-in porch, the door you choose can make all the difference.   A rickety shower door falling off the railing is a big œdon™t buy sign.   While you don™t want to blow your whole budget, the doors throughout your house should be of quality material.   Likewise, a solid front door adds to the curb appeal and security of your home.   Some exterior doors also qualify for the Federal Tax Credit for Energy Efficiency.   Find out if your exterior door qualifies for an Energy Star Rebate or Tax Credit.

¢  Flooring “ Unless it™s expensive carpet on sale, cheap flooring never looks like anything but cheap flooring.   Low cost carpet and wood flooring seldom has high durability and is likely to wear out before you™re ready to replace it again.   Take the time to find quality flooring at a price you can afford “ don™t go cheap!

Many South Jersey real estate agents will push quality, but the biggest point they™ll push these days is – go green!   It may not be the cheapest option, but the benefits in efficiency and property value more than make up for the cost.

Want more tips on remodeling or repairing your home?   Subscribe to this blog.   Two or three times a week, you’ll get information like this automatically sent to your email for free.

Just when you think you’ve done everything you need to do to get your home ready for the market, months pass and your home doesn’t sell. Consider a few factors that can effect your goal of selling your home.

1.)  Priced Too High “ If your home has an excessive asking price, it will be harder to sell. With so many South Jersey homes available today, a big price tag may turn buyers off. And, your competition down the street may have the same home but a better price.

2.)  The Market “ No longer can you simply put a home on the market and watch the offers roll in. Nowadays, you have to be diligent and knowledgeable in your approach. Research the market value of South Jersey homes in your neighborhood and know what kind of competition you’re up against.   And, understand today’s buyers and what they need in order to make a good offer on a home.

3.)  Unfavorable Location “ No matter how gorgeous a home is a bad location can hurt sales. Although you can’t change the location, you can be creative in figuring out ways to appeal to buyers. Offer incentives to attract buyers or lower your asking price.

4.)  The Appearance “ Does your home need some work? If so, you want to attack those issues first before putting your home on the market. Things like dirty carpets and broken appliances can turn buyers off. Try staging your home. This will help to ensure your home dazzles potential buyers.

5.)  You Didn’t Consult a Professional – Trying to sell a home yourself can be an extremely daunting task. That’s why you need a real estate professional who knows the ins and outs of the industry and can market your home in the right way.

The good thing is that you can make changes that will improve the situation. Go over all the points listed and address any problems. Once that’s done, you’ll have a better chance of watching your home sell.

Let me give you a free analysis of your home’s value in today’s market.   Just click the following link and fill out the short form:   Click Here!

Although the housing market has had its fair share of ups and down, many home buyers, particularly first-time home buyers, are reaping the benefits. If you’re thinking about purchasing a South Jersey home, there are many good reasons to make your move today.   Here are six of them:

1.  Low interest rates “ Right now, interest rates are lower than ever before. This means you can get an extremely affordable loan and save big on interest payments.

2.  Cheaper home prices “ Not only are interest rates low, but homes all around are cheaper. Since the market is packed with homes for sale, selling has become harder. As a result, prices have fallen significantly, allowing you to get a more expensive home for less money.

3.  Potential tax credits “ As a first-time buyer, you could be eligible for thousands of dollars in tax credits. Best of all, you do not have to pay it back, as opposed to previous years.

4.  Less competition “ Many people no longer have the money to purchase homes, so fewer people are visiting model homes and open houses. This is great news for you.   If you’re ready to buy a South Jersey home, you don’t have to worry about floods of people bidding up the price on the property.

5.  Huge inventory “ With new homes constantly being built, not to mention an array of existing homes, you can take your pick from a wide variety of available properties.

6.  Big bargaining power “ Because so many people are trying to sell their homes, they’re more willing to be flexible. As a buyer, you could greatly benefit and may be able to save on closing costs, upgrades, repairs and more.   Work with a skilled real estate agent who can negotiate a great contract for you.

If you have the funds to step out and purchase one of the many South Jersey homes for sale, now is the best time to take advantage of all the possibilities.   I’m ready, willing and able to negotiate the best price and terms for you. Call me today at 856-321-1212 or email me at stephen@soldin73days.com.

Buying South Jersey foreclosures can be an exciting task. And the thought of getting a great deal on a home can literally make you giddy. But before you get caught up in all the good things about buying a foreclosure, there are still many details to sort out before you get the keys to your dream home.  

When buying a foreclosure, you should:

1.   Get help
Purchasing a foreclosure requires a lot knowledge, skill and attention to detail. From real estate agents and home inspectors, to attorneys and investors, you’ll need the help of professionals to see you through the process. You will have your hands full, so seek out help ahead of time.

2.   Work fast
When it comes to getting South Jersey foreclosures, sometimes, your favorite property may also be someone else’s favorite. That’s why, as soon as you find the home, do your research so you can submit a knowledgeable bid on the property early on.

3.   Do your research
Research details about the property. Many surprises can pop up, so it’s important to spend the extra time finding out everything you can about the property, including whether or not the home has any liens on it. Although this can be a bit of a roadblock, you may be able to negotiate.

4.   Factor in risks
Lots of times, when buying foreclosures, the home is sold as is. It’s up to you to decide if you’re willing to renovate or update the home as needed. If so, just make sure you have enough money to cover any needed repairs or cosmetic work.

If you’re interested in getting a foreclosed property at a great price, give me a call today at 609-221-0921.   I specialize in guiding people through the foreclosure buying process, and I’m happy to answer all your questions.

From household cleaning supplies to clothing, everything is going green. The same goes for the real estate market. Many potential home buyers want eco-friendly South Jersey real estate. Before you simply buy a home that’s touted as green, consider these few tips for finding a truly green home.

1.   Work with an expert
It may be difficult for you to figure out what criteria designate a green home. That’s why it’s important to seek out a green real estate professional whose main focus is to help you sort through fact from fiction in the green housing industry.

2.   Buy in an eco-friendly neighborhood
Purchasing green South Jersey real estate doesn’t necessarily mean the location will be environmentally friendly. Unfortunately, buyers may not factor in this detail. If your neighborhood is in the heart of the city, you may be exposed to more car emissions. Also, access to green amenities like bike and walking trails, may be limited.

3.   Add your own green touches
Sometimes the home you find could be perfect with just a few small changes. If you want to make a home green, you have a variety of options. You could add natural flooring, install more insulation to help with energy costs and use non-toxic paint.

Before buying green South Jersey real estate, or any home for that matter, take your time and do your research. Many people are jumping on the popularity of going green, so it’s smart to remain skeptical until you know and understand all the facts.

Looking for an eco-friendly home?   I’m a green real estate professional and would love to help.   Give me a call today at 856-321-1212 or email me at stephen@soldin73days.com.

Sometimes the motive for selling your home isn’t about upsizing, it’s about downsizing. Downsizing isn’t necessarily about spending less money.   Just as frequently, it’s about increasing your home’s amenities while decreasing the work and responsibilities involved in a larger home.

There are a lot of excellent reasons for downsizing your South Jersey home.  
The kids have grown up and moved away
You want less work inside and/or out
You just want to enjoy your home without hassle
You want something smaller and greener to save energy and the environment
You want community amenities such as golf and tennis
You want luxuries like a granite countertop, stainless steel appliances, whirlpool tub, pool and spa
You want less responsibility so you’re free to travel
Downsizing is all about knowing what your needs are and what you desire in a new home, which is basically the same think you need to know when upsizing. When people think about buying a new South Jersey home, it’s usually about more bathrooms, more bedrooms, and more space.     But, as homeowners get older, they often begin to realize that all that space is more of an obstacle than a benefit. Sit down with your real estate agent and discuss the benefits of different types of homes.
For example, condominiums are an attractive option for busy homeowners. There’s no yard work and owning a condo still provides a tangible real estate asset with all the accompanying tax incentives. Those are especially valuable now with the stimulus package giving new homeowners a bigger tax rebate for a real estate purchase on a principle residence in 2009.
For true flexibility, renting can be an option that allows you to move about quicker and easier than if you own a home, but it won’t give you the same ownership satisfaction or the tax breaks. Even without the stimulus package, owning a home has always provided a significant year end tax write off on interest and property taxes.
If you still feel that a house is not a home without a little bit of land, but you don’t want too much to keep you tied to yard work, talk to your real estate agent about smaller properties. Your agent will find you the perfect little home that’s just the right fit for you.
Ready to downsize?   I specialize in helping people just like you find their perfect home. Contact me today at 609-221-0921 or visit SoldIn73Days.com.

Here’s a big colonial that is absolutely ready for the market and for you! This lovely Northfield model, in addition to just being freshly painted and professsionally staged, just had its downstairs hardwoods and stairway beautifully refinished! Gorgeous, popular colors have been chosen and all the wallpaper is long gone! New carpeting is in the bedrooms, a lovely newer light maple kitchen has a wood-look easy care vinyl floor and newer appliances. A screened porch overlooks a very peaceful and private fenced backyard that is adjacent to the Hunt Tract. The larger side of the basement has been finished into a delighful playroom or game room with brand new carpeting! Heat and air are just 6 years old, the roof has lots of life left and new triple glazed krypton gas replacement windows have been installed throughout the home. Lovely 2 sided fireplace with a new pewter screen in the country kitchen and a big, 2 car garage, what more could you ask for? It’s close to the acclaimed Russell Knight School!

For Photos and More info click here