Clayton & Clayton Realtors Real Estate Blog

Home Insurance Guide for Beginning Home BuyersHomeowners insurance offers important protection for homeowners. When certain types of disasters cause damage to a house or when someone is injured on the property, insurance can protect homeowners from crippling financial liability. Once a home buyer makes an offer on a property, many buyers start the search for the right homeowners insurance policy. Knowing the purpose of homeowners insurance and the best ways to save money on insurance can help home buyers to choose the right policy.

Are Homeowners Required to Have Homeowners Insurance?

Homeowners are not legally required to have homeowners insurance, however, it is often a prerequisite or the home mortgage process. Mortgage lenders will require home buyers to get insurance before they will

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Buying New Construction: Factors to ConsiderBuying a house that has not been built yet is not the same as buying existing construction. These five questions help buyers understand what they will need to know as they shop for new homes. What Is the builder's experience?

Builders can range from the smallest contractor just getting started to a multi-national building conglomerate with thousands of employees and decades of experience. Before buyers get too invested into the process, they want to find out more information concerning the builder's experience and general track record. They can do this with a simple online search, and perhaps taking a look at previous work completed by the builder. Experience and a string of successful projects show buyers that the builder is more likely to finish

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Considerations When Selling a Vacation HomeRules differ for vacation homes and rental properties, and whether a second home is designated as one or the other can influence seller options for financing as well as carry tax implications for both buyer and seller. Options may not be clear cut. When it comes time to sell an Ortley Beach vacation home, there also are tax implications that hinge on whether the property was ever rented, for how long, and how it was used by the owner and the owner's family. Numerous variables exist.

A second home, just as a primary residence, is considered a capital asset, subject to either short-term or long-term capital gains based on the length of time the home was owned. There are also possible tax consequences and the property can be treated differently if it

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Tax and Lending Implications of Buying a Vacation HomeBuying a vacation home is very different from buying a primary residence. A homeowner who has bought a primary residence and is now thinking about buying a vacation property may be startled by the many differences between these two purchases. Knowing the differences can help a person decide whether or not buying a vacation home is right for them.

Vacation Home Mortgage Requirements

Lenders have different standards for people buying a vacation home versus people buying a primary residence. These stricter requirements can make buying a vacation home more difficult for the average person.

For example, a buyer is required to put down a much larger down payment on a vacation home than a private residence. Whereas a home buyer purchasing a primary

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Metal Roofing Options for HomeownersImagine not having to replace your roof for at least 50 years. It's not too good to be true; it's the typical lifespan of a metal roof. Learn the benefits of metal roofs, including their energy efficient features, to determine if this is the right choice for you.

Metal Roofs Save Energy

Metal roofs deflect sun that hits the roof, bouncing it back into the atmosphere. This decreases the amount of solar heat any home gains as the sun beats on the roof. When a home stays cooler because it does not absorb solar heat, cooling system needs to work less hard to maintain a comfortable temperature. Homeowners will see an immediate decrease in utility bills from switching to a metal roof.

If homeowners have a standard, dark gray shingle roof, they

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What Are Home Buying Contingencies? If you're a home buyer making an offer on a property, you might spend a lot of time thinking about home buying contingencies. Understanding what contingencies are and how they can benefit you is important. Once you know how contingencies work, you'll be able to make choices that can make your home purchase successful.

What Are Home Buying Contingencies?

Home buying contingencies are clauses in a home purchase contract that enable the home buyer to drop out of the purchase if certain conditions are not met. There are three major home buying contingencies that are used in home purchase contracts.

What Are the Different Kinds of Contingencies?

Perhaps the most commonly utilized contingencies are the home appraisal contingency, loan

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What Kind of Smart Technology is Right For Your Home?Smart technology is here to stay, and many homeowners are finding ways to integrate it into their everyday lives. These tips will help homeowners make their home a smart home using all the latest technology and gadgets.

Smart Light Bulbs Brighten Up Anyone's World

Smart light bulbs can be turned on and off through a smart phone or tablet. Whether standing in the living room or on a tropical island thousands of miles away, homeowners can control the light in their home at the touch of a button. Homeowners like smart light bulbs because of the convenience, and because smart light bulbs make it easier to conserve energy. At any given moment, they can see which lights are on in their home, and if needed, they can turn them off.

Some smart light

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7 Ways to Boost Curb AppealHomeowners want to present their homes in the best possible light to prospective buyers. However, with the myriad of possibilities to make a home more attractive, it may be difficult to select the most practical, low-cost ways to spruce up a property. There are those homeowners that can afford to splurge. However, others want to get the most value possible from relatively affordable expenditures. What can homeowners with a small budget do to improve the appeal of their home?

Use these suggestions when it comes time to boost curb appeal on the cheap.

Easy Changes to a Home

Get a home ready to sell by first addressing these common issues with affordable solutions. Tackle these problems before listing a home.

Discolored Foundation

No one

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When Is PMI Necessary?Lenders ideally want to see a 20% down payment from all of their applicants. This gives a homeowner a large share of equity in the home from the moment they move in, which makes them that much less likely to default on the rest of the payments. While 20% may have been reasonable for certain areas in certain time periods, the inflation in many cities today has been high enough that fewer and fewer people can come up with that kind of cash on the spot. Private Mortgage Insurance (PMI) was the solution for these buyers to mitigate the risk a lender takes. See what the rules are before you start shopping around for lenders.

Standard Terms of PMI

PMI is a way to avoid raising interest rates for all potential homeowners. It passes down the financial

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shore spotlight: rumson, nj

Rumson lies in the northern sections of Monmouth County, a popular suburb of New York City, historically a favorite of wealthy New York bankers and industrialists for decades. The small but affluent community is a mere 35-minute ferry ride from uptown Manhattan.

The borough of Rumson is well-known for its collection of sprawling, historic estate homes that line the banks of the Navesink and Shrewsbury Rivers. It’s also served as home base to quite a few well-known entertainers over the years, including rockers like Jon Bon Jovi, Bruce Springsteen and Richie Sambora, and actors like Queen Latifah.

What's in a Name?

The community of Rumson was created as an act of the New Jersey legislature in 1907, from portions of Shrewsbury Township. The

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