My Pet Peeve: Newer Investors Who Don't Know What They Want
Monday, August 21
As a real estate agent, I've worked with a lot of people who are new to the game. And one of my biggest pet peeves is when someone comes to me and says, "Just find me a good deal." The problem with this is that there is no such thing as a "good deal" in a vacuum. What's a good deal for one inves...
Hackensack, NJ Condo Purchase-Anatomy of the Deal
Saturday, February 27
Here in North Jersey and across the US, it has gotten harder and harder to find any deals for investors off the MLS. However, I just closed on this 1 bedroom condo in Hackensack for an investor buyer client. 2% rule is almost impossible here in Bergen County, and 1% isn't even easy, but my client...
Common Traits I See With Foreclosure Listings
Thursday, July 30
In the first half of 2020, foreclosure rates plummeted by 44% from last year and 54% from the same time period 2 years ago. Foreclosure starts are the lowest since 2nd half of 2005. I wouldn't get too overjoyed with these stats, as foreclosure rates seem to be at their lowest right before the s%!...
Will Bergen County, NJ House Rental Market Remain Strong in 2020?
Thursday, March 05
Just like the real estate sales market in Bergen County, New Jersey, the house rental market has also seen increases. With very little housing inventory available (especially in first time home buyer ranges under $500,000), some buyers are giving up and renting instead. This is good news for land...
Banks Trying to Get Their REOs Off the Books in North Jersey Finally?
Tuesday, October 18
REO agents in New Jersey on Bigger Pockets, are you noticing an uptick in REO listings? Personally, I have gotten 5 REO listing assignments in the past 2 weeks for a total of 9 now. None of which are actually available on the market yet.As I blogged about previously, the banks I am dealing with a...
New Trend? Less REOs Available for Flippers
Tuesday, August 30
Here in New Jersey, we still have a backlog of foreclosures that haven't hit the market yet. The process to foreclose in NJ can take years. I currently have an REO assigned to me that the occupant hasn't paid his mortgage in 7 years! And then they give them Cash for Keys to move out!Well there se...