According to the Mortgage Bankers Association (MBA) the number of home mortgage applications have risen to the highest level in the past three months. Accompanied by the low interest rates and many different properties in the housing real estate market to choose from, I can attest that the housing affordability graph created by the New Jersey Association of REALTORS® is true. New Jersey homes are among the most affordable in the nation.
Pointing to a 4.7 rise in new home sales in February, Pierre Ellis, Senior Economist, Decision Economics, New York said, "The rise in new home sales suggests that the drop in mortgage rates and prices has increased affordability enough to bring some buyers back to the market."
I encourage you to take advantage of the favorable market. If you really want to keep it conservative, consider this ultra-affordable ranch at 140 Hauser Street, Hamilton, NJ. With three bedrooms and a remodeled kitchen, you'll find this home ready to move in at $210,000. Don't forget your first time home buyer incentives. Let me show you how to make the New Jersey home affordability factor work for you. Call me to find out more: 609-658-2612.
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