Title searches, budgets, property maintenance costs, underwater mortgages

 

How much should I budget for property maintenance costs? 

Real Estate Tip:


Do a thorough title search before you buy a property to make sure that you get clear title free of outstanding liens or other encumbrances.

Real Estate Insights:
 

Underwater Mortgages Tick Up But Trend Down [View Article]: We’re not out of the woods yet with respect to people being upside down on their mortgages.  This is particularly true in many coastal real estate markets that tend to experience bigger price swings.  In New Jersey, my home state, home prices tend to increase between 4-5% annually.  Based on that average appreciation, New Jersey home prices at the height of the real estate market bubble in 2005 reached 2020 price levels!  We have a ways to go, but I’m an eternal optimist and things are getting better.