Are Federal Flood Maps Accurate Or Outdated?, G's Rule Of 3 For Contractor Estimates, How The # Of NJ Homes For Sale Has Changed Over The Last Year

Are Federal Flood Maps Accurate Or Outdated?

As a rule, it’s smart to get at least three estimates for any service or construction work done on your home or property.

The number of homes being offered for sale in NJ is up 17% year over year.

The Capitalization or Cap Rate for a property is the ratio between its net operating income (NOI) and the property’s value:

Capitalization Rate = Net Operating Income/Value

You can transpose the formula to solve for property value or net operating income:

Property Value = Net Operating Income/Capitalization Rate

Net Operating Income = Property Value*Capitalization Rate

Analyze real estate market trends locally, not nationally because every local real estate market is different.

Mortgage applications to purchase a home rose 6% last week to their strongest pace since September.