Fannie Mae offers Deed for Lease program

Here is another option to allow you to feel secure about choosing to purchase a home.  Announced yesterday, Thursday, November 5, Fannie Mae will now let you rent your home should you not qualify for a loan modification or face eviction or foreclosure. 

The process is the same as an existing program known as a deed-in-lieu of foreclosure; but the revitalized program called "Deed for Lease" asks borrowers to qualify under the current guidelines and if they can show that their income will pay a market rent, they will be able to sign a lease for up to 12 months. The program does affect your credit score, but it is less damaging than foreclosure.  Read more about the program here. 

Often we wait and wait afraid of the inevitable and while we wait, prices go up and our situation never really changes because of the increase in cost of living.  We hope the inevitable never happens, but programs such as Deed for Lease can ease the pressure if it does.  You can consider making a home purchase today with that extra layer of security. 

I am not promoting that you take unnecessary risks with your credit, livelihood or family's quality of life, but this option allowed by Fannie Mae may take some of the worry from your mind so that you can move forward, onward and upward.  Want to talk about it?  Please give me a call at 609-658-2612. ~ Joe Giancarli, http://www.njhomesource.net/

Bill to expand home buyer tax credits passes House and Senate

Eighty-nine percent of the voters in Tuesday's New Jersey elections claimed they were primarily worried about the economy.  And with that worry in the forefront, they voted for a new governor to help turn the economy around. 

With those worries at heart, the US Senate and Congress made positive statements today when the solidly voted not only to extend the tax credit for first time home buyers, but also to expand it.  The new rules:  Homeowners who have been in their primary residence for five years may buy a home before May 6, 2010 and get and $6,500 tax credit.  If you are a first time home buyer, you can claim an $8,000 tax credit. 

Unemployment benefits were also extended by the bill and a tax break for money-losing business. 

I think you have to agree that the government is doing their fair share to turn the economy around.  It's up to us to do the rest.  We have to invest in ourselves; purchase a home andstimulate the economy through the trickle-down effect that occurs from large purchases. 

We have to invest in our communities and our neighborhoods.  Please let me show you how.  Call me for more information about the home buyer tax credits and I promise to help you find the best home for you and your family to call their own.  Let's talk today.  ~  Joe Giancarli, Phone: 609-658-2612, http://www.njhomesource.net/

Price change on home in Hamilton, New Jersey

This affordable home just got even better!  Now priced at $269,900, 34 Tappan Drive, Hamilton, New Jersey is a must see.   It's a classic cape, set back from the street for quiet privacy.  Eat-in kitchen, enjoyable sunroom, large back yard and a finished basement makes this house all that a busy family needs to feel at home.

You can find out more about this property at NJ Homes Source or take a virtual tour right here.  Don't wait!  Let's see this home together.  Call me at 609-658-2612 to set the date.  ~ Joe Giancarli

New construction in Mercer County NJ is looking up as well

With affordability rates for existing homes being at an historically high rate, it is rather easy to forget about the joy of new construction. However, the US Department of Commerce released a report on Tuesday, October 27 that indicated single-family home construction increased 3.9% to a 501,000 annual rate.

In Mercer County, NJ, there are some great new construction opportunities for you. One of my favorite communities is Dogwood Meadows. I write about it a lot and lately, my posts have been highlighting sales in this new home community.

But another recent listing for us includes land in Ewing Township, Mercer County, NJ. The Berkshire model is to be built at 486 Walker Avenue, Ewing.

Please click on the pictures to enlarge and then give me a call at 609-658-2612 so that we can discuss this opportunity in depth.

I look forward to hearing from you soon! ~ Joe Giancarli, http://www.njhomesource.net/  

More good news for the real estate market in Mercer County, NJ

According to the National Association of Realtors (NAR) existing home sales rebounded strongly in September. This marks the fifth gain in the past six months for existing home sales. Single-family townhomes, condominiums, and co-ops jumped 9.4% with 5.57 million units sold, which is 9.2% higher than September 2008 and the highest level in more than two years.

The chief economist for the NAR believes that the first time home buyer tax credits are providing the momentum. With affordability conditions historically high, the first time buyers accounted for 45% of all home sales in the past year. Furthermore, Freddie Mac reports that the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 5.06 in September 2009, a full one percent less than one year ago.

So what did the houses sell for? The median price in the US was $174,900. By region:

•  Northeast: $234,000, down 7% from one year ago
• Midwest: $147,600, down 1% from one year ago
• South: $153,500, down 7.6% from one year ago
• West: $219,000, down 15% from one year ago

I think the report supports that buyers are making good choices based on affordable options. I would love to show you some of those affordable options right here in the Mercer County real estate market. Please call me today so that we can utilize the first time home buyer credit set to expire next month. Don’t wait! Call me today at 609-658-2612. ~ Joe Giancarli, http://www.njhomesource.net/  

Properties are moving in Mercer County, NJ

My dear friends, it has been much more than a week since my last post.  I had such great intentions of analyzing, researching and providing some quality insight to help you make decisions about buying a primary residence or selling your home, but as they say, life got in the way!  Well in this case, it was life and business and that's all good!

Let me tell you about some of the good. Two proud families have had the wonderful SOLD! experience: 18 Misty Pine Lane and 17 Dogwood Lane in Hamilton, NJ.

Two homes have price changes to reflect the current market: 

• 3 Edgewood Drive, Jensens Deep, Cream Ridge, NJ  is now only $129,900
• 130 Monmouth Street, Hightstown, NJ is now only $169,900

Two new listings that are sure to interest you because they are both great opportunities to use your first-time home buyer credit: 

• 120 Juniper St, Burlington, NJ - only $149,900
• 762 Lower Ferry Road, Ewing, NJ 08628 - only $229,900

Things have been "moving and shaking" so I just wanted to touch base with all of my readers to let you know about some of the exciting changes and great opportunities that are available right now.  Give me a call at 609-658-2612 if I can be of assistance, answer any questions or take you on a personal tour. 

 I promise to follow up soon with more details about our new listings.  ~ Joe Giancarli, http://www.njhomesource.net/

SOLD! in Mercer County

Happy busy Monday!  What a great start to the week!  We are very happy to report that our listings at 109 Central, Ewing, NJ and 902 Lawrence Road, Lawrenceville, NJ in Dogwood Meadows have sold.  You have to admit that is good news for our buyers and sellers. 

There are some lovely well-appointed and affordable homes in the Mercer County community still waiting for you.  Check out the listings at NJ Home Source then give me a call and we'll find one another one to place the SOLD sign in front of.