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Brexit—Disastrous Storm or Opportunity?

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So Britain actually voted to leave the EU. If you called that right and bet against the stock market, the pound or almost anything, you likely had a profitable week. The uncertainty caused by the vote has resulted in a mass exodus from many investments and the loss of a staggering amount of wealth.

However, when people...

Personal Reflections on Second (Vacation) Homes

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It’s almost summertime, so thoughts often turn to vacation homes, also known as second homes. Our family has owned one since before I was born, and I was the fortunate recipient of this home as a 21st birthday gift from my mom who was the previous owner. To ensure added privacy, I subsequently purchased wooded acreage behind the house. So here, based on our family’s long experience, are just a few thoughts and caveats about buying and owning a second home.

If you think that you would enjoy vacationing in a particular area, then before you buy it may be advisable to lease a house or apartment so that you can live there during the season(s) that you intend to be in residence. While...

Seller Concessions—No Hotdogs Sold Here!

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What are seller’s concessions a/k/a seller contributions? Answer: Negotiable dollar amounts that the seller pays toward closing costs on behalf of the buyer on a residential purchase transaction. Closing fees vary by geographic and these “dollar amounts” can include, but are not limited to:

Discount points/origination fees

Credit report fees

Title insurance

Processing/underwriting fees

Attorneys/legal fees

Appraisal fees

Up-front mortgage insurance—VERY POWERFUL!

Origination fees

Inspection fees

Transfer, mansion or mortgage taxes

Real estate tax escrows

Prepaid interest

Homeowner association dues (if a condo)

Maintenance (if a co-op)

So why would the seller be so...

Nice Guys Finish Last! Or Do They?

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Over my 20+ years of involvement in real estate and mortgages I thought I saw and experienced most – if not all. That was until Wednesday, June 15, 2016. It all began about 10 months ago when I was introduced to a really nice young couple from the Dominican Republic who lived in a tiny apartment in the Bronx. We met to discuss home financing options, if any, that were available to them as they were exploring the possibility of buying a home in Bergen County. I could immediately tell that these were sincere and hardworking people who simply wanted to make a better life for themselves and their two boys.

We went to work fast. I spoke with them a few times by phone, discussing the...

Buying a Home? Amazing 3D Technology Will Change Everything for You

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First Ever in New Jersey: 3D Virtual Reality Unveiling and

Open House to Be Held in Teaneck This Monday Night at V+N

Next week, the way you buy a new home is about to change forever thanks to 3D virtual reality immersive technology, and you’ll love what you see… literally. If you follow real estate trends and home building in New Jersey, here’s something you’ve never experienced before—on Monday, June 27, at 7 p.m. you will be able to actually walk through, look around and feel your perfect dream home… before it’s even built for you. You heard that right—before a home is built you can walk through it, at the first-ever 3D Virtual Reality Unveiling of 285 Ogden Ave...

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