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Always ask to see any existing leases for any rental property you are considering for purchase. If you buy the property, you will be subject to the terms of those leases. Make sure the leases match the seller’s representations.
The number of homes on the market in NJ is 36% lower than last year which is continuing to push home prices higher.
Most of the best real estate deals will involve properties that are in need of repair. In order to capitalize on these rehab deals, you or someone you work with will need to know how much time and money are required to renovate these properties.
US existing home sales fell 3.3% in June from May.
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
The number of NJ home sales have declined for the past 25 months, falling by 20% in June.
