Love is in the air! As we prepare to show our significant other, family and friends just how much we care — don’t forget to show your home some extra attention this month, too! Share the love
Homebuying Facts In NJ For September 2013
Affordability Rates are SoaringData released by the National Association of REALTORS® (NAR) supports the attainability of homeownership as the affordability index figures are highest than ever. The current rate of 174.4 in New Jersey indicates that getting that dream home is more attainable than ever.
This, combined with low interest rates and a diverse housing inventory, create the perfect recipe for those in a position to buy.NAR’s affordability index formula accounts for many variables that contribute to how affordable home buying is in New Jersey: home price, mortgage rates, payment as a percentage of income, median family income, qualifying income, and monthly Principal and Interest (P&I) payments.
For example, an affordability value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home, assuming a 20-percent down payment.To learn more about affordability, click here.
Christie Launches Website Detailing Property Tax Records and Other Vital Public InformationIn an effort to increase government transparency, Governor Chris Christie recently launched a website that provides the public with data that makes it easier to understand New Jersey’s public finances. Included on this website, www.YourMoney.NJ.Gov, is an interactive map that displays the Garden States’ 3.1 million property tax assessment records. With the new property tax feature, REALTORS® and consumers can check individual records in their town or community, jump from record to record and compare assessments and taxes from one town to another.
Be sure to visit the website frequently to provide your feedback and view other reports.Get the Facts
Despite the national trends and statistics you might have heard, the old adage that all real estate is local has never been truer.
Market facts in New Jersey, combined with national incentives, make now a good time to get active in New Jersey’s real estate market. Here's why: