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Gerald Lucas

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Is Hurricane Flooding Covered By Homeowner's Insurance, Why You Should Match Your 1098 Form, Housing Starts Fall

October 12, 2021 Gerald Lucas

Is Hurricane Flooding Covered By Homeowner's Insurance

Real Estate Tip:

If your mortgage lender pays your real estate taxes from an escrow account, make sure the real estate taxes you claim on your return matches the number on Form 1098 your mortgage lender sends you-Form 1098 will report any real estate taxes you paid.

Real Estate Insight:

U.S. construction starts declined in August for the third straight month, pushing starts to an 11-month low

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Tags Gerald Lucas, real estate tips, real estate stratgies, flood damage, National Flood Insurance Program, NJIP
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Hottest Homes For Sale In NJ Right Now, How Much DO Home Renovations Increse Home Value?, Multi-Family Property Owners Get A Reprieve

October 5, 2021 Gerald Lucas

Hottest Homes For Sale In NJ Right Now

Real Estate Tip:

Think twice before sinking a lot of money into a home renovation like granite counter tops, pricey fixtures and fancy alarm systems--on average, capital improvements add only 50% of their cost to a home's value!

Real Estate Insight:

Qualifying multifamily property owners can continue applying for forbearance as the previous Sept. 20 deadline has been lifted.

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Tags Gerald Lucas, real estate tips, real estate stratgies, home price range, million dollar homes, starter homes
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What To Do When A Home Does Not Appraise For Purchase Price, Oil Tank Test Strategy, New Home Sales Fall

September 28, 2021 Gerald Lucas

What To Do When A Home Does Not Appraise For Purchase Price

Real Estate Tip:

When you pay for an oil tank scan on a property you are going to buy, have the company you hire determine whether the tank is actively in use. If the tank has been taken out of service, you should request all documents relating to the tank closure including town permits and contractor reports. These documents will prove the tank was closed properly according to regulatory guidelines.

Real Estate Insight:

New home sales fell 13.2% year-over-year in July

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Tags Gerald Lucas, real estate tips, real estate stratgies, rental prices, tipping point, property appraisals, appraiser, purchase price
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