Bergen County Realtor, Sal Poliandro, CDPE, SRES, ePRO, Short Sale Specialist

This home has everything that you are looking for. Four large bedrooms, 2 full baths, dead end street and privacy all around.

Puppy not included. This home is waiting for you. Current offering price of $332,000.

Wow! $332,000 for this much house, you have to see it to believe it.

Fortunately, I listed this property about a week ago. We had some great showings and then three offers, yes three offers. Contracts were signed in less than two weeks and we are moving forward. I have had great success in this neighborhood, properties are getting contracts before we can send out the just listed cards. House showed really well and Mrs. Clean really did live here.

Inviting entrance.

Backyard to enjoy this summer and they left the swingset and shed.

I would show more pictures of the inside, but unfortunately this house is already spoken for.

Be on the lookout for the newest listings.

Get Educated. Get Empowered.

For more information on this or any other topic, call Sal Poliandro, Broker Associate, Realtor, Marketing Advisor,

Short Sale Specialist and CDPE, Certified Distressed Property Expert

ePRO, SRES at 201-259-2187, visit our websites: www.SalAndDawn.com or shortsaleguy.org

Follow me on Twitter: @salanddawn

Sal can be reached by snail mail at RE/MAX Properties 73 East Allendale Road Saddle River, NJ 07458

Home prices guaranteed to increase December 1, 2009

As of December 1, 2009 home prices are guaranteed to increase by $8,000 for first time homebuyers. You must take possession of your new home by November 30, 2009 to qualify for the first time homebuyer tax credit. The train is leaving the station, be on it or pay more come December 1^st.

August and September are the months to begin your home search

On average, it takes around 60 days from contract to closing. With this in mind, a first time homebuyer would need to be under contract by October 1^st. There are plenty of homes to choose from right now. Get started early, so you don't have to feel rushed.

Timeline to purchase a home in New Jersey

Financing - 1 day to 1 week

Before the home search begins, make sure that you have all your ducks in a row. First item is to be pre-approved from a reputable mortgage company. In this difficult credit market it makes sense to have a pre-approval in hand. A pre-approval means that you have spoken with a mortgage person, submitted all necessary documents and have had your credit report pulled. This lets the home seller know that you have been thoroughly screened and that you are ready to purchase. The only items that you are waiting for are the home and the appraisal value.

Finding the home - 1 day to 2 months.

Each home search is unique. There are people who can look at 5 homes and make an instant decision. Other folks want to make sure that they have seen every home available. Only you and your Realtor know for sure how long this process will take you.

Negotiating the contract - 1 day to 2 weeks

Once you have picked the home that you want to purchase you will write up an offer. This process can take as little as one day. (If you pay full price and agree to whatever terms the seller wants). The reality of today's market is that everybody wants to negotiate. Typically buyers want to make an offer below the asking price. There are a couple of issues here:

1. Getting in touch with the seller and/or the sellers agent. There are plenty of Real Estate agents who spend their summers "Down the Shore". There is also the possibility that the owner is on vacation and not accessible. In a negotiation, you don't want to appear too anxious. Patience is important in order to get the price that you want. If you wait until the last minute you will not have this advantage.
2. Attorney Review Process - In New Jersey, once the contract is signed by both buyer and seller the status is changed to Attorney Review in Process. The buyers and sellers attorneys contact each other to finalize the contract. This process typically takes three business days. The process can be sped up or can take weeks, it all depends on communication. Some attorneys may be in court and not available. Other times buyers and sellers aren't easy to get a hold of. During this status either party can cancel the contract for any reason. Sellers have been known to cancel the contract if they receive a better offer.

Under Contract, Inspection Contingencies - 1 day to 2 weeks

After the attorneys have finalized the contract, all the contingency timelines will begin. You will want to have the home inspected for structural issues, termites and radon. If the home you are buying has septic, oil and/or well water, you will want to have those checked as well. During this time you will have to set appointments with inspectors. As we get closer to the tax credit deadline, people will become very busy. If there are issues with the home and you are not comfortable with going forward with the purchase you will need to start the process over and all the time invested in this particular process will be lost.

Mortgage Processing, Appraisal 30 - 90 days

At the conclusion of the inspections, the appraisal is ordered. There have been many new laws passed regarding Appraisals. Unfortunately, this has slowed down the process. Having the appraisal done and the filing of the report can take anywhere from three days to one month. Once the appraisal has been entered, the final underwriting of the mortgage takes place. Depending on how backed up the pipeline is, there can be delays in this stage.

"Lack of preparation on your part, does not constitute an emergency on our part."

This quote was posted in the Bursars office of St. John's University when I was a student there in the early 1990s.

I'm pretty sure that the US Government will feel this way if for some reason your closing gets delayed and you end up closing on December 1^st and not November 30^th. Get started soon, seize the day.

Get Educated. Get Empowered.

For more information on this or any other topic, call Sal Poliandro, Broker Associate, Realtor, Marketing Advisor,

Short Sale Specialist and CDPE, Certified Distressed Property Expert

ePRO, SRES at 201-259-2187, visit our websites: www.SalAndDawn.com or shortsaleguy.org

Follow me on Twitter: @salanddawn

Sal can be reached by snail mail at RE/MAX Properties 73 East Allendale Road Saddle River, NJ 07458

Sarah Palin has taken a break from politics and now she is concerned with helping Realtors become Certified Distressed Property Experts. There are about 10,000 Realtors who have the CDPE designation. We just graduated another hundred or so in the New Jersey area. So maybe my teacher wasn't exactly Sarah Palin; it was a great lady from Florida.

I have been doing short sales for a number of years and was a little skeptical about becoming "certified" for something I have been doing. The training was a pleasant surprise. The documents that they provide will definitely compliment my current package. More than once, I was shaking my head in agreement with my teacher. During the lunch break on the second day while speaking to a negotiator, I was able to get the name of the man's supervisor that I was speaking with. Based on what I was taught, he was happy to give it to me.

Here is my graduation photo. Do you see what I'm talking about?

Get Educated. Get Empowered.

For more information on this or any other topic, call Sal Poliandro, Broker Associate, Realtor, Marketing Advisor,

Short Sale Specialist and as of today CDPE, Certified Distressed Property Expert

ePRO, SRES at 201-259-2187, visit our websites: www.SalAndDawn.com or shortsaleguy.org

Follow me on Twitter: @salanddawn

Sal can be reached by snail mail at RE/MAX Properties 73 East Allendale Road Saddle River, NJ 07458

"USDA" is more than grading meat and providing nutritional information. The United States Department of Agriculture through Section 502 Direct Loan Program is providing assistance to people impacted by the recession. The Federal government has put aside almost $1 billion dollars for this program. That is billion with a B! The USDA will be assisting low and very low income applicants who cannot qualify for other credit.

Currently the biggest issue we are facing in the Real Estate market is getting loans closed. Previously our issue was with pricing; buyers were offering too little and sellers were demanding too much. Over the last three months or so there has been an upward spike in activity. Clearly buyers and sellers are more able to agree upon the value of a given property. Now the focus is getting the mortgage company to provide the money for the buyer to purchase the home. As Real Estate activity dropped, companies scaled back their staff and were letting people go. Now that there are more loan requests, my experience has been that mortgage companies are backed up and under staffed; making it more difficult for them to produce on time.

Fortunately, in a time where the money supply has tightened, I was introduced to a program that can help people. This is especially beneficial to first time home buyers who can also take advantage of the up to $8,000 tax credit. Scott Scarpelli from FIF Corp (201) 841-5897 introduced me to this great program. Here are some highlights as he explained them to me.

100% Financing/No Down Payment to Qualified Borrowers

If appraised value is higher than purchase price; you can use difference for closing costs and pre-paid expenses

No monthly mortgage insurance

Seller can pay up to 6% toward closing costs and pre-paid expenses

No cash reserve requirements

No credit score required with alternative credit

Must purchase in an eligible rural area*

Single family and condominiums only

*Eligible areas in New Jersey include all or portions of Passaic, Morris and Sussex Counties as well as 14 other counties in New Jersey.

Interested in finally getting some "stimulus" from the Government?

Scott Scarpelli at FIF Corp. will walk you through the process. Scott Scarpelli Mortgage Consultant at FIF Corp. Cell 201-841-5897

Now is the time to get moving. Great financing is available and home prices have come down considerably. Don't be the person that looks back years from now saying, "I should have bought in 2009".

Get Educated. Get Empowered.

For more information on this or any other topic, call Sal Poliandro, Broker Associate, Realtor, Marketing Advisor,

Short Sale Specialist

ePRO, SRES at 201-259-2187, visit our websites: http://www.salanddawn.com/ or www.shortsaleguy.org

Follow me on Twitter: @salanddawn

Sal can be reached by snail mail at RE/MAX Properties 73 East Allendale Road Saddle River, NJ 07458