Atlantic County NJ — Buyers are Buying!!

At least according to the lastest numbers released by a trade group stating that pending home sales are up by a little over 10% according to contracts signed in October 2011. This number reflects that the market is moving and this may be attributed to the low mortgage rates that buyers are taking advantage of.

Does this reflect investor buyers or single family home buyers? If I had to guess, I would say probably investor buyers and some single family home buyers who have good credit and made their move at the right time to buy in this market.

I think it’s safe to say that for the most part no matter what the market is there will always be buyers as long as they have the money or the credit or access to someone else’s money or credit.

What does this mean for anybody who wants to buy? Get Prepared. Know Your Numbers — get your credit report, go over your finances, sit down and talk about it with your spouse or significant other. If you are a single buyer, do the same thing.

The real estate market is a cyclical market – meaning it goes around and around and you have to prepare to be ready when the cycle comes around.

Have questions? send me your questions at

Happy ThanksGiving Atlantic County NJ!

Well here we are blissful to be approaching another holiday – Thanksgiving.  This is definitely the time of year to think about what you are thankful for – Family, friends, the last vacation you took, the time with your children or grandchildren or great grandchildren. If you accomplished a goal that you set for yourself – paid a credit card bill off, left that person who was toxic in your life, completed your first year clean and sober. Whatever it is –GIVE THANKS.

If you are still employed you have a lot to be thankful for and you want to go into next year with renewed energy and put yourself in a position of what I have coined M.O.R.E. – Money Outside of Regular Employment. Always move forward to put yourself in a better position especially moving forward thinking of ways to create an extra revenue stream to always be able to take care of yourself and your family. I’m a big advocate for financial literacy. It started in 2002 with Robert Kiyosaki’s course – You Can Choose to Be Rich.  If you’ve never heard of Robert Kiyosaki aka Rich Dad check out his site, If you want to learn about it from a woman’s prospective, I’ve got you covered because Robert’s wife, Kim Kiyosaki is the rich woman –  And check out this link too:

Give Yourself and Your Family the Gift of the Best Financial Life You Can Create For Yourself – You and Your family Deserve It!

And Don’t Forget to Give too – Donate to your favorite charity or local food bank. Remember, the local food bank in the Atlantic City area is at the Shore Mall.

Three Factors to Consider Buying a Home in the New Economy


Times have been difficult. Some say times are as difficult as the depression era and some say it is worse. It is certainly like no time we’ve experienced. However, there is still a great deal to be thankful for. Although many are on unemployment and many may fear that they will soon receive the dreaded pink slip, we are still blessed to wake up each morning, eat breakfast and/or make breakfast for our families before we head off to work or school. Despite all of the difficulty, there are still those of us who want to become a homeowner for all sorts of reasons. There is no reason to give up on your dream of homeownership, but there will be some things that you will have to do differently that you will want to consider before you start on your journey of your first home or your next home.

The first factor to consider is your credit score.  Although credit has always been a major factor in your ability to get a mortgage, the result of the 2007 economic downturn has made the credit score you need to qualify go up. For example, in 2006 borrowers needed a 620 score to get the best rates. By May 2008 the score you need is 760 or higher to get the best rates. That represents an increase of 140 points. (1)

The second factor to consider is your employment situation. Do you live in a city dependent on a single company or industry that could be vulnerable to real estate downturns? Be sure to investigate an area’s fundamental economy before making a purchase. For example, do you work in an industry that could be more vulnerable to an economic downturn like Las Vegas, NV who largely employees casino workers.

The third factor to consider is your health. That’s right. Your health. All of this stress could and will to some extent take a toll on your health. Are you already overweight? Did your doctor advise you to watch your cholesterol? Did your cardiologist tell you to watch what you eat and cut down on the fat in your diet? Well, are you listening? The extra stress that we take on from worrying about whether or not we’re going to get the pink slip can be terrible on your immune system. And if you’re sick, how are you going to go to work everyday and be your best? Making your health a priority in addition to your credit score and employment situation will help you to overcome stress. Put together an exercise plan. Ten minutes a day can make a big difference. Getting up ten minutes earlier in the morning to stretch or walk in place can make the difference in your level of stress killing you or keeping you here. Pay your bills on time and admit your financial truth – Are you ready for a house? If not, no problem— just plan.

(1).Buying a House in the New Economy – Buyers Advice- Brandon Cornett

Atlantic City NJ Revel Casino Hotel is Coming!

Wow — 500 Boardwalk is going to light up come Summer 2012 because the newest casino in Atlantic City, NJ is coming – Revel Casino Hotel.

The great thing about Revel is that the City of Atlantic City was able to create an opportunity for the residents of Atlantic City to be interviewed first for positions available at this great establishment. How cool is that. Revel is looking at the residents of Atlantic City as valuable assets to work in Atlantic City. This casino hotel will bring lots of needed jobs to the area for all levels of employees — from housekeeping to middle management. Upper management has already been put in place. This is a great opportunity for the residents of Atlantic City and Atlantic County as a whole because anyone who has the skill set for the open positions will be able to get back to work.

How awesome. Welcome Revel Hotel Casino.

Let’s get back to work Atlantic County, NJ!

Have Appraisals Made Selling Your Home Difficult?

Appraisals are supposed to work in conjunction with home sellers and assist agents with getting their client’s  home sold by attaching a monetary value to the home based on  certain criteria. However, since some changes in the appraisal methods and since some appraisers have been involved in shady deals inflating or deflating property values,some changes have affected the property values to the point where it could wreck the deal. If the appraisal on a property does not come at the same price that the buyer and seller agreed to then either the price has to be lowered or raised or the contract has to be cancelled or renegotiated. This causes deals to stop dead in their tracks.

Since the prices used by appraisers go according to the comparables that are currently used and prices have fallen significantly, this makes some prices come in lower than expected. Until the market cycle changes to an upward cycle this may be the case for some time. 

If this happens and the buyer had no protection such as a contingency clause they won’t get their intial downpayment back. You can also ask for a second appraisal.  Always do a little background work before moving forward for your best protection.