Realty Executives Elite Homes
There are many potential homebuyers, and even sellers, who believe that they need at least a 20% down payment in order to buy a home or move on to their next home. Time after time, we have dispelled this myth by showing that many loan programs allow you to put down as little as 3% (or 0% with a VA loan).
If you have saved up your down payment and are ready to start your home search, one other piece of the puzzle is to make sure that you have saved enough for your closing costs.
Freddie Mac defines closing costs as:
“Closing costs, also called settlement fees, will need to be paid when you obtain a mortgage. These are fees charged by people representing your purchase, including your lender, real estate agent, and other third parties involved in the transaction. Closing costs are typically between 2 and 5% of your purchase price.”
We’ve recently heard from many first-time homebuyers that they wished that someone had let them know that closing costs could be so high. If you think about it, with a low down payment program, your closing costs could equal the amount that you saved for your down payment.
Here is a list of just some of the fees/costs that may be included in your closing costs, depending on where the home you wish to purchase is located:
Work with your lender and real estate agent to see if there are any ways to decrease or defer your closing costs. There are no-closing mortgages available, but they end up costing you more in the end with a higher interest rate, or by wrapping the closing costs into the total cost of the mortgage (meaning you’ll end up paying interest on your closing costs).
Home buyers can also negotiate with the seller over who pays these fees. Sometimes the seller will agree to assume the buyer’s closing fees to get the deal finalized, which is known in the industry as ‘seller’s concession.’
Speak with your lender and agent early and often to determine how much you’ll be responsible for at closing. Finding out you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.
These are the units that I have available for rent in New Jersey right now. For information on any of the apartments, you see for rent call or text 862-228-0554. We also have other towns and complexes if you have a certain request you can email me at matthewdefede@realtyexecutives.com
If you are looking for a new rental apartment or house give me a call at 862-228-0554 we also handle commercial rentals as well, we can help landlords fill their empty vacancies also.
Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Property Brothers,” and so many more, just in one sitting.
When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.
Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors the average homebuyer tours 10 homes as a part of their search.
Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market.
Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.
Truth: Of course this would be great! Open houses are important to guarantee the most exposure to buyers in your area, but are only a PIECE of the overall marketing of your home. Just realize that many homes are sold during regular listing appointments as well.
Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their homes and move on with their lives/goals.
Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!
I strive to make my clients home buying and home selling experience the best I can, in today's world where everyone just expects "Bad Customer Service" I do my best to treat my clients the way I would like to be treated I give my clients the best and most honest advice and service that I can when buying their first home or selling their current home. Let's face it the average consumer does not have a very good perception of Realtors these days I would like to change that perception by being available when my client has a question or concern and by giving them the best advice possible based on my experience, not my opinion. So if you are looking to buy a home in Nutley NJ or sell your current home in Nutley NJ I would be happy to sit down with you and show you why we are different.
You can have all these great tools we have today and all these great lead generating sites and they are all good and we all know that Real Estate is a numbers game but you can grow yourself and your business exponentially if you just paid attention to what you are doing.
What you focus on is what you become "Thought's Become Things" now I think there is a lot of truth to that statement yes there are going to be those clients that are more challenging than others but I am a big believer in quality over quantity.
It seems rather simple, you have to make a connection with your clients and basically anyone you are engaging and I guarantee you will see a difference in your business.
Realty Executives Elite Homes in Nutley Has The Best Online Presence In Northern New Jersey, And is the only Realty Executives Office Located in Nutley New Jersey 12 Miles Outside of New York City We Focus On NYC Home Buyers Looking For Family Friendly Homes in Essex County, Bergen County & More. We Have Homes in Nutley, Belleville, Clifton New Jersey.
Each office independently owned and operated.
