Sewell, NJ

Cash in your pocket and equity in your Sewell home? If you've been thinking about making changes to your house but thought you couldn't afford a remodel, it's time to rethink the possibilities. The payback on renovations in cost versus higher home value, should you decide to sell your house later, can be better than you thought.

Reason #1: Lower bids from the contractors. The home renovation business is falling with the current housing market, leading to lower bids for the homeowner's remodeling project. In addition, most contractors are willing to negotiate with you for a better price, leaving you with a beautiful remodel for an excellent price.

Reason #2: Higher number of contractors to choose from. Although homeowners are still making repairs and working on their houses, the number of bigger additions and fancy remodels is going down. More contractors are competing against each other for your project.

Reason #3: Lower financing costs. If you have good credit and a steady economic foundation, you can get lower financing costs. This, in turn, makes the project that much more affordable.

Reason #4: Lower cost of materials. Because the number of major remodels is dropping, the demand for materials (and thus the cost) is also dropping.

Reason #5: Less waiting time for a top-rated remodeling contractor. With a lower number of people wanting to remodel their Sewell home, even top-rated professionals have a shorter waiting list.

Reason #6: Better service. With more competition, contractors are definitely giving "service with a smile." Calls are being returned faster; jobs are starting on time (or before!).

If you looked into remodeling your Sewell home more than a year ago, now is definitely the time to do something about it. However, even in this sweet time for remodeling, be aware of shady companies and shoddy work. Do your research before accepting any contractor.

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Kimberly Thomas, Broker-Associate; 856-308-5989; www.south-jersey-real-estate-blog.com

www.KimThomasHomes.com; email: kim@kimcanhelp.com

Sewell foreclosures and pre-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 the choice of 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 Sewell 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 (although it could be as much as 200 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 you should make sure that they put it in writing.

Lastly, keep in mind that Sewell 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 a short sale, I can help. Call me at 856-308-5989 or email me at kim@kimcanhelp.com for more information.

Kimberly Thomas, Broker-Salesperson

www.NJHomesNearPhilly.com

Helpful links for research on foreclosures:

1. Loan modification

http://www.hud.gov/offices/hsg/sfh/nsc/faqlm.cfm

2. Credit checks for new hires

http://www.privacyrights.org/fs/fs16-bck.htm

3. Deficiency judgment

http://www.foreclosurefish.com/blog/index.php?id=412

The I-Team Homes has been marketing quite extensively in Washington Township NJ including the area of Turnersville. We provide housing market analysis for our clients. The following is the most current data we have for Washington Township :

For the month of May 2009 -

• New Listings Added in May - 86 (20.3% of the Total Avg Listings of 424)
• Average asking price - $263,450 (85.2% of the Total Avg Price of $309,260)

• Properties that are Pending Sales (Under Contract, Not Settled) - 26
• Average Price: $291,600

• Properties that Settled in May - 20
• Average sold price - $208,415 (92.0% of average asking price)
• Average Days On Market: 91 days

We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call us at 609-417-1084.

For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/

Looking for a fixer upper property? Willing to put in some "sweat equity" to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/

If you are interested in HUD owned homes currently for sale , go to: http://www.njhudsales.com.

Are you behind on your mortgage? We can help you! We are the Foreclosure Prevention Consultants. We've been where you are now, don't make the same mistakes we did. See what we can do for you at http://www.i-teamhomes.com/foreclosure.htm

Linda & Terry Iwaniw
REALTOR Associates
First Time Home Buyer Specialist
Foreclosure Prevention Consultant
ReSales & Investment Realty, LLC
856-795-3111 x263
609-417-1084
http://www.terryi.com/
http://www.snewjerseyhomes.com/

So you have tried going it on your own.  But it hasn't quite worked out for you.  Whether you are a buyer or seller, you need the knowledge and guidance of a professional!

In todays market of high inventory and short sales and foreclosures entering the market place it is more important than ever to have your home priced according to the current market.

When I say current I mean homes that have sold in the last few weeks, not just homes that are for sale.  You need to be sure you are buying and selling at the right price!

Once a home is under contract and the buyers have applied for their mortgage the mortgage company will send out their appraiser to find the most recent homes in and around the area to use as comps.  This will tell the mortgage company whether or not the buyers are paying fair market value.  Mortgage companies will not lend more than what the appraised value of the home is!

So what can Weichert do for you?

Weichert is a full service company that offers many services,

"A One Stop Shop" including title, mortgage, insurance, moving services, utility transfer, etc.

To get your copy of this informative brochure or to set up your appointment with me today please feel free to contact me at any time!

Bridget Cella 609-352-1667

www.sjrealestateonline.com

mail to: bridget@sjrealestateonline.com

Here are some statistics you might find insightful: