Wayne, NJ

Real Estate for Retirement Investing, Ask the experts.

I would like to advise you to consult a retirement investment professional before making a retirement decision.

In my opinion these financial retirement experts appear to be losing proficiency in their subject, especially if we look at our dwindling retirement accounts.

I am not an expert in retirement investing! I am a licensed Wayne New Jersey real estate professional with 20 years of experience. I am fluent in Spanish, graduated college in Spain and have a real estate brokers license. As a mother of four I advocate that Wayne New jersey offers a great school system.

Would you like to know my best retirement advice? In my first years of real estate I attended many educational workshops, one particular speaker gave the audience the following advice:

"You don't get rich selling real estate you get rich buying real estate."

This idea stayed in my mind. I have come to the conclusion that this is the best advice I ever received. Just use your common sense look around, small investors (first time buyer) to great investors (real estate moguls) all accumulate wealth investing in real estate. It is not too late you can accumulate wealth as well in real estate.

Are there any cons ....? If you have a retirement account available to you, most likely it is a defined contribution plan such as a 401 K plan. These plans mostly invest in stocks and bonds which expose you to stock market risk (we all know about that). The most difficult thing about this is the decision making is placed in the hands of the owner, not understanding all the particulars, we are making mistakes every step of the way.

Well a house is house, a house it is........ Investing in real estate is tangible. It offers an array of investment levels and products for all types of investors. Real estate provides one of your basic needs, shelter. It can produce income, offer tax deductions, capital gain, along with many other benefits. Just as important is the fact that it allows you the opportunity to diversify your investment portfolio to minimise investment risk.

After 20 plus years of experience, helping buyers and sellers to buy and sell real estate in Wayne New Jersey and Pompton Plains New Jersey I can testify that real estate is a great retirement investment. It is very gratifying for me to help first time buyers to meet their basic need of shelter and send them on the road to build wealth in equity. Working with savvy investors is a challenge for me. It has helped me to learn and grow from their knowledge of wealth accumulation.

Get on the path of retirement security. Currently there are bargains in real estate and low mortgage interest rates.

Contact your local realtor today.

Contact me if you have questions about investing in real estate. Lets not forget about the performance of guaranteed fixed annuities. That is a topic for another day.

Home Improvement Loan
Two special loans administered through the Federal Housing Administration (FHA) are the Title I and Section 203(k) programs. A Title I loan allows you to borrow up to $25,000 for improvements to a single-family home. These are fixed-rate loans that FHA insures against the risk of default. Loans must be made by an approved Title I lender.

The 203(k) program is not as well known, but if you are looking to purchase a fixer-upper, it is a terrific opportunity. It allows home owners to receive a single, long-term, fixed or adjustable rate loan that covers both the acquisition and rehabilitation of the property. To obtain a loan under the 203(k) program, you must use an FHA-approved lending institution. Most mortgage lenders are approved to make loans through this program.

Call us today to learn what repairs you can include in this type of FHA loan!

New Jersey Rate Manual Simplification Effective March 1, 2009

The New Jersey Department of Banking and Insurance ("DOBI") recently approved an application from the New New Jersey Rate Manual Simplification Effective March 1, 2009 Jersey Land Title Insurance Rating Bureau ("Rating Bureau") to (1) replace the long-standing Basic Rate and Reissue Rate schedules with a single Standard Rate in the New Jersey Manual of Rates and Charges ("Rate Manual"), and (2) replace the two-tier county Examination Charge (usually referred to as the "search and exam" charge, for either $105.00 in Basic Rate matters or $90.00 in Reissue/Refinance Rate matters) with a uniform search and exam charge of $100.00 regardless of the Rate schedule applied.

Change in the Underwriting Charge

Effective March 1, 2009, for all new orders received on or after that date, the Basic Rate and Reissue Rate schedules will no longer be used, and the new Standard Rate will be applied (1) to all owner's title insurance applications and (2) to all loan title insurance applications unless any other loan rate schedule (Refinance, Modification or Construction) applies in whole or in part.

The new Standard Rate preserves the same price points that we have always had, but the price-per-thousand formula will be as set forth below:

I. Changes to Section 4.2 "STANDARD UNDERWRITING RATE SCHEDULE"

The standard underwriting rate for either owner's insurance, leasehold insurance, or mortgage insurance, shall be calculated according to the following rate schedule:

Policy Liability Rate per $1,000 or Fraction Thereof

$0-$100,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5.00

$100,001-$500,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Add $3.95

$500,001-$2 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Add $2.65

Over $2 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Add $ 2.00

II. Changes to Section 5.1 "EXAMINATION CHARGE"

When the insurer or its agent examines the title to real estate and issues a
commitment to insure, the charge for such examination involving a single
chain of title shall be $100.00. The examination charge includes only the
county search.

II. Refinance Rate in Section 4.61 Refinance, Recast or Substitution Loans remains unchanged and applies to loans that are made the same borrower
on the same property, the following rates shall apply to so much of the new
policy as represents the face amount of the mortgage or mortgages other
than construction loans being refinanced:

Policy Liability Rate per $1,000 or Fraction Thereof

$0-$100,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.50

$100,001-$500,000.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Add $2.25

$500,001-$2 million.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Add $2.00

Over $2 million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Add $1.50

Is Perfection holding you back?

Have you every had one of those days, weeks, etc. that you feel like you just can't finish anything? Well I know I have. Some days no matter how hard I try I just can't get anything done. Well now I know why.

Last week I had the pleasure of attending a workshop by Terry Watson.

This workshop was sponsored by our local Passaic County New Jersey Board of Realtors. Terry Watson's demeanor was just excellent. He contributed so much insight on how to improve business and strive for more from life. He lifted our spirit in such an entertaining way. His information was so practical and down to earth and did I mention funny? We, the audience, looked so professional in our business attire, yet held no reserves when it came to laughing at his "fart joke". Oops.... can I say that ....

Perfection is the culprit!

I learned not to strive for perfection. If you try to be perfect it will only hold you back from getting things done and moving forward.

Does Bill Gates strive for perfection?

Just think about this. Bill Gates is one of the wealthiest men in the world. Does he wait until his operating system is perfect before he puts it on the market? Well if you have purchased the latest 'Windows Vista" I know you can answer that question.

Do you look for humor to help you move forward?

Terry pointed out how humor is the best medicine in rough times and to lighten up difficult situations. We make life too serious.Throw in some humor and get over it. Remember even Mary Poppins said "a Spoonful of Sugar helps the medicine go Down".

Wishing you all success and happiness, your local realtor in Wayne New jersey. Dee Mauriello

Learn from the rich getting richer...

The news..... Oprah gained weight....

The news for 2009, Oprah is now a whopping 200 pounds. This beautiful, wealthy, media mogul is in the news again. In her interviews she talks about how embarrassed she feels about the weight gain. Oprah is quoted saying "I didn't fall off the wagon. I let the wagon fall on me".

This just makes me want to cry for Oprah ........!

Do you know of anyone as smart, charismatic, and wealthy, with more resources to control her health and figure than Oprah? Well if you do let me know.

Isn't it a coincidence, that Oprah is in this situation, when weight loss is the number one preoccupation and resolution of the New Year? Well we are going to hear a lot about it in interviews, her television show, along with reading about it in her magazine.

Do you think this will increase her visibility, sales and ratings? Your guess is as good as mine.

Maybe we should start talking about our mistakes and what to do.

Mortgage companies have gone under, people over extended their credit and some have even lost their investments. All is true but ...

Do you ask clients to please give home ownership a second chance.?

And do you tell them this is the time to buy?

We have a lot of inventory available all over the country. The offer of real estate is greater than the demand. This brings prices down, down, down. To this economic factor we can add the bonus of great government lending programs and in general unbelievably low interest rates. We are now all smarter and have learned from passed mistakes.

It's like a fire sale or going out of business sale, with real estate bargains galore.

Let the public know that you the local Realtor can help find one of those bargains.

I know of plenty of bargains in Passaic County New Jersey. Call me I will tell you about it.

In the vicinity of Wayne New Jersey about 25 miles from New York City we got it all, residential, commercial, industrial and multifamily. Best of all it is a great place to live. How about Morris County only a hop skip away with beautiful towns such as Pompton Plains, Riverdale, Kinnelon, etc.

Brother and sister Realtor let us join with Oprah to help the public and resolve to make 2009 a better year for all.