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About Hoboken's Downtown

An Investigation of Mortgage Practices

11-08-09
Eddie Perez
Eddie Perez: Real Estate Agent in Hoboken, NJ

An investigation has been started by the U.S. House t4_housing0327committee to determine whether lenders used the property boom to encourage people to buy by using deceptive tactics.

The central part of the investigation will focus around Countrywide Financial Corp. Countrywide was bought by Bank of America in July 2009 and was considered the largest U.S. mortgage lender.

Find the latest update regarding the First-Time Home Buyer Tax Credit.

For assistance in navigating your way in the complicated process of purchasing your first home, please contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.

Nearly 60 Percent of New Home Buyers Rely on Low Down-Payment Mortgages

11-08-09
Eddie Perez
Eddie Perez: Real Estate Agent in Hoboken, NJ

Highly regarded housing consultant. John Burns Real Estate Consulting, house4salerecently released a survey of home builders regarding the type of financing their buyers’ used. The survey states that almost 60 percent of new home buyers relied on low down-payment mortgages from the government.

20 percent of buyers used conventional financing, 7 percent got a jumbo loan and 7 percent of buyers paid cash.

Other important facts that were included in the survey was that the total of unsold finished inventory has dropped and sales are slow, particularly among builders who do not have a lot of appeal to first-time home buyers.

For more great information go to Look What $334,000 Buys You in Hoboken.

As a top Hoboken REALTOR, I can help you through the entire process of buying your first home. If you are looking for assistance in finding the perfect home in Hoboken, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.

New Tentative Agreement for the Homebuyer Credit Extension

11-01-09
Eddie Perez
Eddie Perez: Real Estate Agent in Hoboken, NJ

There has been a tentative agreement in the senate to moneyextend the current $8,000 tax credit for first-time home buyers. In addition, there will be a new $6,500 credit offered to existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years.

The new requirements are that home buyers must be under contract by April 30, 2010, and close before July 1.

How Much Would You Pay?

11-01-09
Eddie Perez
Eddie Perez: Real Estate Agent in Hoboken, NJ

Obama_Neighbor_Chicago.sflbLocation, location, location, is a big factor in determining the price of a home. But, what does that mean when the home is next door to President Barack Obama in Chicago?

A 17-room mansion located in Chicago at 5040 S. Greenwood that is next to Obama's house at 5046 South Greenwood Avenue is for sale.

If you are interested, the home’s listing can be found at 5040greenwood.com. The website reportedly got 60,000 hits in just its first week.

The current owner, Bill Grimshaw, reportedly paid $35,000 for the 103-year-old home in 1973.

Although, homes in the area usually go for $1.5 million to $2 million, the Grimshaw house, which features period details and original woodwork, will likely be sold for a much higher price.

For more valuable information please go to I Want to Buy my Home at the Bottom.

There may some hidden treasures for you located in Hoboken. Whether you are search of the perfect Hoboken condo or a lovely Victorian brownstone, please contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.

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False Claims for the $8,000 Tax Credit

11-01-09
Eddie Perez
Eddie Perez: Real Estate Agent in Hoboken, NJ

You now have until the end of November to utilize the tax creditmoney available to "first-time" homebuyers who purchase a home this month.

Baltimore Sun reporter Jamie Smith Hopkins has estimated there are 19,000 people who have claimed the credit and have not bought a home. It’s amazing that there are people who are willing to commit fraud to get the $8,000 without buying a home.

It is possible there is as much as $600 million dollars worth of bogus first-time homebuyer tax-credit claims. With a total of more than 1.4 million first-time homebuyer tax-credit claims filed since late August, says the Los Angeles Times.

In addition to this, there are numerous reports of people under the age of 18 receiving the credit. There is even a case of a 4-year-old who has received the tax credit, says U.S. News & World Report.

For more great information go to First Time Home Buyers Are Leading The Way.

There still may be enough time for you to qualify for the $8,000 tax credit For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City. He can be reached at eddie@InvestHoboken.com or 201-344-2886.