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Gerald Lucas

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Are Adjustable Rate Mortgages A Good Idea?, Do This BEFORE You Buy A Rehab, Apartments Rents Finally Fall

September 27, 2022 Gerald Lucas

Are Adjustable Rate Mortgages A Good Idea?

Real Estate Tip:

Confirm contractor availability to work before you commit to buying a property that needs extensive renovations

Real Estate Insight:

Apartment rents are falling from record highs across the US for the first time in almost 2 years.

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Tags Gerald Lucas, real estate tips, real estate strategies, adjustable rate mortgage, ARM, 30 year fixed rate mortgage, variable interest rate, 2008 financial crisis
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When Will Home Prices Fall?, Beware Of Poor Home Design-What To Avoid, Housing Inventory Plummets

April 6, 2021 Gerald Lucas
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When Will Home Prices Fall?

Real Estate Tip:

Avoid poorly designed homes--this is often referred to as functional obsolescence. Functional obsolescence reduces the desirability of your home and makes it more difficult to sell. Here are some examples that you should steer clear of:

1) No bathrooms on first floor

2) Bedrooms with no closest

3) Knob-and-tube wiring or fuses instead of a circuit breaker box

4) One outlet per room

Real Estate Insight:

US Housing inventory at the end of December 2020 declined 16.4% from November and declined 23% from one year before.

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Tags Gerald Lucas, foreclosures, pandemic, 2008 financial crisis
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How Pandemic Foreclosures Differ From 2008 Crisis, Adapt Or Perish, Millennials Dominate NJ Homebuying

March 30, 2021 Gerald Lucas
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How Pandemic Foreclosures Differ From 2008 Crisis

Real Estate Tip:

Adapt to the real estate market around you; don’t expect it to adapt to you.

Real Estate Insight:

Millenials currently represent 3/4 of NJ home buyers.

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Tags Gerald Lucas, foreclosures, pandemic, 2008 financial crisis
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