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Wednesday, August 31, 2016
Real Estate the Smart Way / September 1, 2016

NextRE - Newsletter

 
Dear Reader: Real Estate the Smart Way will keep you informed about the things that can impact your family’s quality-of-life by providing the best of news and perspectives on key issues that affect home buying, selling, up-keep and lifestyle. Get smarter, subscribe here.

  September 1, 2016
Newsletter No. 123
 
 
  FHFA Streamlines Refinance Offering for High LTV Borrowers
  Homes are selling an average of a week faster than they did a year ago, meaning home shoppers should be prepared to move quickly in a competitive housing market, according to the June Zillow Real Estate Market Reports.

The 78-day average includes the time it takes to close, which is usually one or two months after the home goes under contract. This means that homes are pending within about a month of being listed.

The length of time homes stay on the market before selling has been steadily decreasing since 2010, when homes took an average of five months to sell. The Federal Housing Finance Agency (FHFA) recently announced that Fannie Mae and Freddie Mac (the Enterprises), at FHFA's direction, will implement a new refinance offering aimed at borrowers with high loan-to-value (LTV) ratios. The new refinance offering will provide much-needed liquidity for borrowers who are current on their mortgage but are unable to refinance through traditional programs because their LTV ratio exceeds the Enterprises' maximum limits.
 
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  Coming Soon: NextRE Office Location in Northern New Jersey
  NextRE will be opening another office location in Northern New Jersey, specifically in East Rutherford, Bergen County.

The new office in Rutherford (home of the Meadowlands Sports Complex), is a natural progression of our strategy to expand in contiguous markets; and the result of inquiries from many agents in this vicinity with interest in affiliating with NextRE.

For more information about NextRE and to search for homes nearby (properties for sale or rent in a one-mile radius of your current location), use our phone app.
 
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  What to Buy – and Not Buy – over Labor Day Weekend
  Amazon Prime’s “Black Friday in July” sale was a major win for both the retailer and shoppers—and prompted a number of big-box and department stores to ante up sales of their own. More savings opportunities are in store this Labor Day Weekend.

According to NerdWallet, the best bargains will be on:

Cars – Not surprisingly, car dealers will blow out this year’s models to make room for 2017 stock.
 
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