Park Ridge is in the beautiful Pascack Valley section of Bergen County. It is known for it’s excellent schools and wonderful accessibility to New York City. In the early 1900’s, it established its own Electric and Water Companies that still service its residents today. Park Ridge is home to a growing corporate population while it still maintains its small town flavor. The historic “Bears Nest” area is being developed with luxurious townhouses, a major hotel and well designed corporate campuses. Richard Nixon was once an owner of one of the original Bear’s Nest townhomes.

In today's real estate market it is better not to sell unless you have to.

Today’s Pascack Valley, Northern Valley, and Bergen and Hudson County Real Estate market is a buyer’s market, which means sell only if you have to.  The bottom of the market is near, if it has not already occurred, which means if you don’t have to sell don’t.

The reason you shouldn’t sell your real estate right now is clear, you are not going to get top dollar.  However, if you have to sell you need to make your home as competitive as possible.  Your home not only needs to be priced right it needs to look its best.
It is not the best time to pour money into your home to fix it up but it is a good time to make it look its best.  Paint it, stage it, make it eye catching.  Most importantly, price your real estate better than  the neighbor’s house and you will be more likely to catch a buyer. Call or e mail Paula Clark for info on the value of your property 201-930-3070 or Paula@PaulaClarkRealtor.com  Your Pascack and Northern Valley Realtor.

Real estate is expected to drop a bit more if not remain flat.  If you have to sell be as competitive as you can.  If you don’t have to sell don’t.  It will be a while before real estate values start to climb, but if you can hold out you might fare better in the long run.

It is a buyer's market

When it comes to Real Estate in Bergen County the general sentiment appears to be that of putting 2009 in the past and looking forward to a brighter 2010.  Looking at where we are and where we are headed as far as Real Estate goes will take us from the present into the future.  Currently home values are affordable, because prices are low and interest rates are low.  Both of these low levels add up to the fact that it is a great time to be a buyer when it comes to real estate.

Interest rates have been hovering at 5% or lower for the better part of the past year, a trend that cannot be expected to continue.  Call a Coldwell Banker Mortgage Broker for more information on current rates for you, because bases on your credit score determines your rate.   As the market stabilizes more and the economy gets better, interest rates will rise.  While home prices still may drop in many areas of the country, they will not drop much more.  Areas that are less affected by foreclosures, short sales and REO properties are likely to level out faster than other areas due to the lack of distressed sales in their inventories.  A rise in interest rates may bring real estate prices down to sell but the days of 20% and 30% decreases appear to be unlikely.

In a nutshell now is a great time to buy if you have been waiting for the right time to plunge into the market.  Take advantage of low interest rates while they are here.  It is a buyer’s market now, it won’t be forever.
For more information on Northern NJ, also log onto www.NorthJerseyFreeHomeInfo.com

For an interesting analysis of the real estate conditions and a forecast of 2010, by CNN Money, click here.

Finding a mortgage before looking for real estate is a smart idea

The first step in purchasing real estate should be getting a mortgage.  Getting a mortgage, or rather getting approved for a mortgage, lets a buyer know what he can expect to afford when looking at property.  It is important for a potential buyer to know how to secure a mortgage.

There are any places to look for a mortgage these days.  There are banks, mortgage brokers, finance companies, credit unions and private lenders.  Often experienced Realtors have mortgage brokers or banks that they work with often and using a lender that has a good reputation is often a safe bet.

When looking for a mortgage have a good idea how much you can afford to pay each month.  Look into the past, present and future to determine this.  It is of the utmost importance not to bite off more than you can chew when it comes to your finances and the affordability of a home that you might buy.

Call Paula Clark (201) 930-3070 for more information on Mortgage Brokers.  Important to shop, but realize that there could be hidden costs, and know the facts before you sign.
Coldwell Banker Home Loans offer many home finance opportunities.  Definitely a Company that you should check out. 
They aren’t a Broker, but they actually the company that will give the loans.

When applying for a loan a person must provide documentation of income, expenses, and assets.  Have your financial statements and tax returns ready and the process will be much easier.

Having a mortgage ready to go before finding a property will make the entire process smoother.  Financing is harder to get these days and being prepared is a wise step in the home buying process.

For more information on mortgages click here.
www.Northjerseyfreehomeinfo.com

Hillsdale’s Coldwell Banker real estate marketing expert Paula Clark was asked her opinion by Kathleen Lynn of the Bergen Record on how to price a home in today’s real estate market. Paula and other top Realtors like Orly Steinberg of Coldwell Bankers’ Ringwood office offered the advice in an article titled: “Wanaque home owner finds pricing home for sale is an art”   You can read it by clicking here:

http://www.northjersey.com/realestate/Wanaque_home_owner_finds_pricing_home_for_sale_is_an_art.html

If monthly payments are affordable buying a home can make more sense than renting

A question that surfaces on most people’s mind at some point is, whether to rent or to buy.  The first thing that pops to mind is affordability but there are other factors, such as job stability, relocation possibilities and lifestyle.  If you intend on being in an area for at least two more years, your income is steady and purchasing a home fits your lifestyle then it is time to break out a pen, paper and a calculator and see if buying makes more sense financially than renting.

At first glance buying a home makes more sense than renting because of the ability to gain equity in a home.  While the past few years have shown this factor to be a bit shaky, the reality is that if you keep a property long enough, or get in at the right time, buying real estate can be a worthy investment.

There is no sense making a two column list when it comes out to equating the cost of renting and buying.  Renting is a fixed equation, the monthly number typically doesn’t change.  To compute your costs for buying a home you look at the following:

• Purchase price
• Down payment amount
• Loan Amount
• Loan Term
• Interest rate
• Property taxes
• HOA fees
• Monthly mortgage payment
• Home owner’s insurance
• mortgage insurance

Your monthly costs will include your mortgage payment, property taxes, insurance, and any HOA dues that may exist.  If these numbers add up to an amount you can afford it could make sense for you to purchase a home instead of rent.  The important thing to remember is that once you buy a home you are not going to have a landlord to rely on to make repairs so factor in putting aside some extra money for a home repair and maintenance account.

Buying a home is an important decision and one which can add to future security and financial stability if done with great thought and evaluation.

Using the internet can make the job of being a landlord easier

Being a landlord can be easier that you think.  Many people are holding on to their real estate these days, some by choice, because they are waiting for a stronger marke, some by necessity, and those that simply cannot sell their homes. However, be prepared to hold on to the home for at least an additional 5, maybe  10 years. We are presently in the 2003 price point. We don’t expect homes or investment Bergen County real estate to be at 2007 prices for a few years.

I don’t believe we will see property values get to the 2005 prices until then.  Right now we are in the price range of the market in 2003.
What this means is that there are many first time landlords out there, a job that can be a bit daunting, especially if you don’t live near your property.If you are lucky being a landlord is easy and you get a monthly check with no real involvement.  Many landlords have a more difficult time however, chasing down rent, making repairs and having to constantly oversee their tenants and their properties.

A new business, PayYourRent.com, helps a landlord to collect rent, track repairs, help tenants set up the utilities and more.  Utilizing an internet service like this can help the landlord and tenant, making communication easier.  At the very least, the internet allows a person to research how to achieve success as a landlord.

For more information on being a landlord visit Realty Times.
Call Paula Clark         for details on when this is a good investment.
Coldwell Banker Residential Brokerage.
Hillsdale, NJ

Homes Sold in Bergen County.  Take a ride through Bergen County, and see what has Sold in the last few months of 09
Just click here

Last week the National Asociation of Realtors met for its annual convention in San Diego, CA. The big buzz is that NAR’s chief economist Lawrence Yun spoke to a room packed with REALTORS® and projected that real estate prices would climb about 4% in 2010, while the number of home sales will increase 15%.  He also predicts that foreclosures will peak during the first half of 2010 and that Realtor incomes will go up 20 percent next year.

What does this mean for Bergen County, NJ? Well, if you are thinking of buying its clear that now is the time. Don’t hesitate to contact a Realtor to assit you through the home buying process. There are many beautiful homes in Bergen County that are priced right. Take advanatge now.

by…..Paula Clark, Coldwell Banker, Hillsdale, NJ

Real estate appears to be stabilizing across the Country

A recent report shows improvement in real estate across the country.  The well known S&P/Case-Schiller index shows that the 10 city index and the 20 city index a marked improvement in real estate in the majority of cities that it tracks.  What the reports displays are small improvements or minimal devaluation in home values.  Home values are up anywhere from .1% to 3.4% in ten cities. In other areas real estate values have remained flat and in harder hit areas home values are decreasing at significantly lower rates. Here in Bergen County New Jersey we are seeing a leveling off of the decline in home prices as well.

While the news is certainly not staggering it is encouraging because it indicates that real estate markets across the Country are leveling out.  Home values are falling less sharply and people are being drawn back into the real estate market.  It is no surprise what is stimulating the market.  Low home values, low interest rates and the First Time Home Buyer Tax Credit have combined to create an ideal buyer’s market. It’s a great time to buy in Bergen County, NJ!

For more information on the latest info click here for a report from Yahoo real estate.