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EveryHome at the Shore – Gearing Up for the Season!
May is a wonderful month at the South Jersey Shore. Time to open up the windows and let the sea breezes “drift” in. There are more pre-season options for dining and shopping as Mother’s Day weekend approaches. Seasonal beach tags are available for pick-up. The weather is great for bike riding, beach strolling, board walking…
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Ask the Realtor: Is a Home Inspection Required?
While many buyers are eager to obtain a home inspection, we’re occasionally asked if it’s required. This is especially true when buyers are purchasing new construction homes or properties that appear to be in great shape. The short answer is that home inspections aren’t required (unless you’re receiving an FHA loan, in which a very…
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Mortgage Rates Increase for the First Time in 5 Weeks
The average mortgage rate inched higher this past week, reversing a 5-week trend of cheaper home loans. Government-backed mortgage giant Freddie Mac reported that the average 30-year fixed home loan currently stands at 4.03%, up 6 basis points from last week’s average of 3.97%. The average 15-year mortgage rate climbed 4 basis points to 3.27%….
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Buying and Selling at the Same Time? Consider a Swing Loan
The real estate market is hot in Greater Philadelphia, and competition is fierce among buyers in many suburban neighborhoods. It’s especially tough for buyers who have a home to sell, as many sellers are less likely to accept offers with a home sale contingency. However, there are options for these buyers, and one of them is…
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Home Prices Rising at Fastest Pace in Three Years
Home prices across the nation climbed quicker than expected in the month of March, according to S&P/Case-Shiller National Home Price Index as reported to CNB. The average home value rose at a 5.8% annualized rate last month, While the news comes as a welcome surprise to homeowners, industry experts warn that it could spell trouble for…
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Understanding Your Good Faith Deposit
A good faith deposit is provided to the seller’s real estate agency and held in a non-interest bearing escrow account until settlement day. The money is used to ensure “good faith” that the buyer does in fact wish to purchase the home. Most buyers provide two good faith deposit checks prior to settlement day. The…