Real Estate in New Jersey

Real Estate in New Jersey is a very valuable commodity.  Whether you are referring to North NJ, Central NJ or South NJ; real estate in New Jersey has a tremendous amount of value.  This is if you are interested in selling or buying.

Search NJ Homes for Sale

This is from a recent article from Greek News

New York.- By Apostolos Zoupaniotis
Lyons Mortgage Services, an active secondary market and portfolio lender for both residential and commercial real estate transactions, held on May 15th a successful evening networking event, for real estate investors and professionals. Guest speaker was FannieMae’s Vice President and Chief Economist David Berson, who spoke on the recent Economic and Mortgage Market Developments.

David W. Berson reports directly to the senior vice president – Corporate Strategy and he is responsible for managing the economics department; forecasting and analyzing the economy, interest rates, housing and mortgage finance markets, and advising Fannie Mae’s chairman and senior management team on finance, economic, tax, and housing policy issues.

He is also a senior participant in the company’s strategic planning process.

Berson characterized economic data as mixed, suggesting a slowing from the rapid pace of the first quarter, but still probably somewhat over trend worth.

Inventories of unsold homes continue to mount, as sales soften. Long term interest rates continued to rise over the past month, climbing to almost four-year highs. The FOMC tightened in March, with financial markets looking for two more moves this year.

Serious delinquency rates jumped in the fourth quarter-mostly, but not totally, because of problems in the storm-affected regions of Louisiana, Mississippi and Alabama. Additionally, some home price gains continue to slow.

Petroleum product prices have risen over the past month. Still, core inflation appears to be unaffected by this hike.

Strong economic growth in the first half of the year is expected to slow to slightly below trend rates over the second half of the year, in response to headwinds, buffeting the economy.

The Fedral Reserve is expected to tighten two-to-three more times this year, but long-term rates shouldn’t rise by as much.

Home sales are projected to fall by nearly 10 percent in 2006 in reaction to investor pullbacks and lower affordability.

Mortgage originations are forecast to decline by more than 23% to $ 2.21 trillion in 2006. After four years of double-digits, MDO growth should cool to a still-strong 9.1%.

LYONS SERVICES
Lyons’ CEO, Edith O’ Donnell, welcomed the quests and the speakers and presented her partners, Chairman of the Board George Sophocleous, and Nicos Tziazas, President.

Lyons Mortgage Services is a full-service mortgage banker and a Fannie Mae seller-servicer, lending in New York, New Jersey and Connecticut.

“We have had a unique relationship with Fannie Mae over the years and are grateful for the wonderful opportunities that relationship has afforded us. Fannie Mae truly helps lenders such as Lyons open the door to home ownership to meet diverse consumer needs. We have been fortunate to pilot many products, such as 40-year loans, interest-first mortgages, expanded cooperative guidelines, as well as mixed-use property financing, which are designed to help both homebuyers and investors achieve their goals”.

She said that theme of the evening, “Trends in Urban Development…Capitalizing on Key Opportunities,” is pertinent to everyone.

“Whether one is purchasing his first home or building a ten-story residence, the goals are the same: to obtain the appropriate financing to achieve ownership of that property. For we know that it is not just through home purchases that this economy survives; it is also necessary to help the builders and renovators provide more affordable housing for all, which is accomplished by providing construction, rehabilitation, and multi-family lending as well”.

Speaking of Lyons, she explained that they have developed “a network of “Trusted Advisors,” which includes accountants, architects, attorneys, builders, developers, realtors, and financial consultants, with whom we have established a relationship based on similar long term interests and mutual respect. We have earned this trust over the years, by providing the service and support to help our clients. Without relationships such as these, we could not accomplish our mission. Our commitment is simple, to provide the services necessary to meet the diverse needs of our business partners and customers, through a combination of innovative financing and technology, which helps all of us to be more productive and efficient. We all know that the way we are doing business today is different from yesterday and that it will be not be the same tomorrow.

The ultimate objective of all concerned is to help both the homebuyer and the developer achieve their personal and investment goals—to reach the American Dream!” 

Tip #23

Home Buying Tip, Big Ticket Items:
Before you buy a home you should avoid buying any big ticket items.  When this is found out during the credit process or reporting it can make mortgage banks nervous.

Even if you will be able to get a loan, you might not be able to get the best available interest rate.

 

Tip #24

Home Selling Tip, Listing Right:
A common mistake when people list their house (especially in a buyers’ market) is list the house at a high price that they don’t anticipate to sell it at.  They figure that if they get it then GREAT but if not they can always lower the price.

This is not a good practice because what mostly happens is it will stay on the market for a while and make potential home buyers nervous because it’s been on the market so long.