Sparta, NJ

Sussex County Mortgage Loan Programs abound, as there are a variety of available loan options for first-time buyers, those "upsizing" or "downsizing", or those who simply wish to refinance their existing mortgage. Sussex County Mortgage Loan Programs include and are not limited to: FHA Mortgages, VA Loans, Fannie Mae Loans, Adjustable Rate Mortgages, USDA RD Loans, Jumbo Mortgage Loans, and Stated Income Loans. We will review briefly each type of loan listed above to go over the programs we offer as a New Jersey Mortgage Banker. We offer additional mortgage programs as a broker as well, giving us the ability to offer the best of both worlds. For a direct quote on any particular program, please contact me or feel free to call me directly at 908 531 6170. Here is a synopsis of several of our different loan programs:

FHA Mortgages are very popular among our Sussex County Mortgage Loan Programs, as a large portion of our loans is through FHA and we have FHA Approved underwriters on staff. We offer the traditional 203B, 3.5% down FHA Purchase Money loan as well as refinancing options. Here is a recent blog I wrote about the FHA Adjustable Rate Mortgage Program. The fixed rate program is super as well. FHA loans can be a benefit purchases and refinances.

Jumbo Mortgage Loans: We have Sussex County Mortgage Loan Programs with true Jumbo Mortgage programs on a brokered basis. Although many parts of NJ have benefitted from the "super-conforming" loan limits, some areas still have relatively low loan limits. Sussex County's loan limit is $729,000 currently. Here is a recent blog about our jumbo programs in NJ. Both fixed rate as well as ARM options are available.

USDA RD Loans: particularly in Sussex County, New Jersey, there are plenty of areas qualified for the moderate income rural development 100% financing program. As a New Jersey Mortgage Banker, we underwrite and fund these loans ourselves. Here is some info on the USDA program and eligible areas in NJ. The most important part to remember about the USDA program is you must qualify income-wise and the property location must fall within an approved area.

VA Mortgages: 100% financing for qualified veterans is a great loan program for veteran first-time homebuyers and seasoned homebuyers alike. With VA approved underwriters on staff, we offer in-house underwriting for VA Loans. Here is a recent blog I wrote with some basic information regarding the VA Mortgage Program.

Stated Income Mortgage Loans: We do not offer the traditional "liar's loan", but rather have on a brokered basis access to Stated Income Mortgage Loans for the self-employed borrowers for which this program was originally intended. This blog has more information about our stated income brokered product.

For more information on the Sussex County Mortgage Loan Programs we offer, use my contact form or call me at 908 531 6170.

This Sparta NJ Real Estate Market Report is based on data recorded in GSMLS as of October 4, 2009. Statistics covering Lake Mohawks home for sale (below) are from the same source. While I don't publish monthly data on all Sussex County NJ homes for sale, I certainly can work it up for you as appropriate!

GSMLS market data for Sparta NJ real estate shows that only 11 homes were sold in September 2009. These had an average sale price of $455,773; the median price was $350,000. For 2009, 11 sales in a month are the second lowest; there were just 8 closings in Sparta in February. Given there are 26 Sparta homes for sale under contract, I'm optimistic that we'll have many more closings during October.

For the 45 new listings of homes for sale in Sparta in September, the average asking price is $524,912. The average list price for homes that went under contract in September is $660,098 - a significant jump aided by 2 very expensive Lake Mohawk properties!

A subset of my Sparta NJ real estate report, Lake Mohawk market data shows just 3 sales, recorded at $337,500, $365,000 and $615,000. During September, we had 9 Lake Mohawk homes for sale go under contract, ranging from just $239,900 up to $3,950,000. (Sure wish I represented the buyer of that big one!) As of the end of September there were still 66 active Lake Mohawk homes for sale.

Start looking at homes for sale in Sparta NJ listed between $350K - $500K.

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from RealtorIrene.com represents Irene's personal musings.

Considering selling a home or looking to buy real estate in Sussex County NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.

This Sparta NJ market report is based on information in GSMLS as of September 2, 2009. Data for previous months has been updated; for example, if a Lake Mohawk home for sale went Under Contract, the deal fell apart and the home is again on the market, the previous months were adjusted.

Market data for Sparta NJ real estate shows that 17 homes sold in August with an average sale price of $532,382 - an increase from the previous month. Sparta's average Sale to List price was 94% - typical.

For the new listings of 57 homes for sale in Sparta, the average price is $573,280 (another increase). The average list price for Sparta homes that went Under Contract $379,714 - a significant decrease from July and sad news for Sparta owners of the larger, more expensive homes for sale. Additionally, if one compares the closings in August to the active listings, we're looking at just under 5% actually closing a deal.

As of 9/2/09, Lake Mohawk real estate market data shows 6 sales - from $227,500 up to a lakefront Colonial selling for $995,000. A slight decrease as we hit September, the 74 active Lake Mohawk homes for sale still give buyers lots of options!

• Sparta NJ real estate up to $350K

• Homes for sale in Sparta NJ $350K-$500K.

• Sparta NJ homes for sale $500K and above.

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from RealtorIrene.com represents Irene's personal musings.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. In addition to Lake Mohawk and Sparta,her market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Newton, Ogdensburg, Scenic Lakes, Stockholm, Sussex, Vernon, Wantage.

This Sparta NJ Market Report is based on information recorded in GSMLS as of August 1, 2009. There may be unrecorded market data - closings or listings on July 30 - 31, for example.

GSMLS market data for Sparta NJ shows that 24 homes were sold in July 2009 with an average sale price of $469,812. For the 45 new listings of homes for sale in Sparta, the average price is $493,758. The average list price for homes that went under contract in July is $418,830 - so clearly buyers are still seeking incredible deals.

As of 8/1/09, Lake Mohawk real estate market data shows 7 sales - from a modest log cabin at $210,000 up to a lakefront Tudor at $725,000. With 81 active Lake Mohawk homes for sale, buyers still have a wide range of choices in this popular Sparta area!

Start looking at homes for sale in Sparta NJ $350K-$500K.

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from www.RealtorIrene.com represents Irene's personal musings.

Considering selling a home or looking to buy one around Sussex County, NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right or www.HomesIrene.com.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Sussex, Vernon, Wantage. With her vast network, however, Irene Kennedy also can help you find an equally talented real estate agent elsewhere.

As the number of Sussex County lake communities is at least 30, I will not even attempt to profile the relative benefits of each when considering a vacation home in Sussex County NJ. Residents of each one will be delighted to tell visitors why their lake community is better than the other 29. Community events, passing the home from one generation to the next, stopping for a neighborly chat when riding a bike or walking the dog are just some of the reasons the residents think their lake community rocks more than the others. And me? I wouldn't argue with a single one of them!

The only one of the Sussex County lake communities that I've never seen is Rock Lodge Nudist Club in the Stockholm zip code section of Hardyston. There currently are no homes listed for sale in this community, but I would be glad to introduce prospective buyers of vacation homes in Sussex to any area that might be of interest. We will just remain fully clothed at all stops, so I don't blow a sale. ;-)

With such a vast number of choices, how would a non-local potential buyer even begin to focus on a couple of our lovely lake communities in Sussex County NJ? This is where I come in as a full-time, full-service Realtor® who handles all facets of residential real estate.

First, I listen very carefully to what you're seeking and your motives for buying a Sussex County vacation home. We'll respect your budget; not everyone is able or willing to pay the premium required for lakefront property - especially if it isn't a year-round residence. Say you mention boating, we'll chat about whether you mean kayak or motor boat. (Many Sussex County lake communities completely ban gas engines.) Even for a kayaker, portage might be important. As I learn more about what your dream is, we start narrowing the list.

Second, we'll discuss your maintenance goals - very important to your enjoyment of a vacation property! When I tell you we have quaint log cabins in Sussex County lake communities, I mean the real McCoy. These rustic homes might be just want you want; for others they are too old and demanding to be of interest. Most areas offer a choice of newer and older homes. In another post in this series, I'll be covering maintenance-light and maintenance-free options, such as townhouses and hotel condos.

Third is size. Expecting lots of city-slicker friends and family to freeload come visit? A 2-bedroom, 1-bath might not work, although it does give you the perfect excuse to regretfully decline company. Within most Sussex County lake communities, we have a nice variety of sizes and styles.

Fourth, we'll examine your non-lake goals for a vacation home in a Sussex NJ lake community. Will you or friends want to come ski at Mountain Creek? Then we'll focus on the areas closest to the slopes. I'd share rental information with you in case you don't plan to use the home for a season or more.

Fifth - Location, location, location. We have lake communities in Sussex County NJ that are more remote than others. From where will you be coming? How long a drive is acceptable to you? Do you have a 4-wheel drive that can tackle an icy mountain, just in case your arriving before the snow plows next sweep?

Irene Kennedy's 2009 series on Vacation Homes in Sussex County NJ:

• Part 1: Vacation Homes in Sussex County NJ - A Long Tradition!
• Part 2: Highland Lakes Vacation Properties
• Part 3: Sussex County NJ - Lake Communities

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from www.RealtorIrene.com/ represents Irene's personal musings.

Considering selling a home or looking to buy one around Sussex County, NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right or www.HomesIrene.com.