Clayton & Clayton Real Estate Blog - Information for Home Buyers

Mortgage Rates Expected To Decrease Significantly In 2023

If you're in the market for a new home or considering refinancing, you may be wondering what the future holds for mortgage rates. After a year of historic highs, many experts are predicting that mortgage rates will decrease significantly in 2023.

This news is welcome for many potential home buyers and homeowners who have been priced out of the market by rising mortgage rates. In this blog, we'll take a closer look at what is driving the predicted decrease in mortgage rates and what it could mean for those looking to buy or refinance a home.

What's Behind the Predicted Decrease in Mortgage Rates?

There are a number of factors that are contributing to the predicted decrease in mortgage rates. Some of the most significant include:

Economic uncertainty: The…

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Is The Home You Want Now More Expensive? No Worry, Here’s What To Do

Was having your own home this year your dream? Homes have become more expensive due to inflation and increased interest rates causing deferred dreams. However, you can still have your own home within your budget here in New Jersey. With persistent increases in house prices for the last six years, the prices have shown a slight decrease in August.  Here is what you can do to own a home as the costs of everything continue to trend upwards. 

Get pre-approved for a mortgage first
In a shifting market, a home buyer's best decision is to get a pre-approved mortgage. With a pre-approval letter, you can actively look for houses and be able to make an offer. You will also get to move quickly after finding your perfect home.

Broaden your search
Houses near cities…

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A Buyer's Closing Checklist: Everything You Need To Bring

A buyer's closing checklist is an essential tool for first-time home buyers. We've put together a list of everything from your ID to your property records you can bring with you to make sure that you're prepared for the big steps in the buying process.

A) Driver's License or Valid Photo ID.

This is needed to identify yourself on all legal documents that are signed at closing. You should also have a copy of this on hand for any potential lenders who will be giving you pre-approval letters and other documentation.

B) Bank Info and Records.

It's valuable to have a written record of all the transactions you've had in your name. If you're relying on the home buyer's title insurance, this will be vital for determining the value of the property.

C)…

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What is a Seller’s Disclosure & Why Is It Important?

A seller's disclosure letter is a document that discloses whatever an individual seller knows about the property being sold. The federal government requires the paper to ensure sellers are not engaging in false or misleading practices to gain a lower price. The seller or their representative can provide this disclosure letter.

Reasons Why Seller's Disclosure is Important

1. Protects Buyer- In addition to protecting the government, this document is essential because it protects potential buyers. When a property has been bought and sold several times, the chances of something being hidden or left undone are much higher. A seller's disclosure allows buyers to be aware before making a purchase.

2. Some States Require Sellers Disclose- Some states…

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Just Listed - 684 East Avenue, Bay Head

Welcome to 684 East Avenue in Bay Head. A Classic Bay Header with wraparound porches, chef's kitchen including Viking range, subzero and custom designer cabinets with large island. This wonderful home features, 7 bedrooms, 3 full baths and 2 half baths. Four guest bedrooms with their own balcony and a spacious primary with bathroom on third floor with amazing views of the ocean. The beach access is on Johnson Street and very close proximity to the town of Bay Head, as well as our local yacht club.

More Details: 684 East Avenue, Bay Head 

Listed by Shawn Clayton 

Bay Head Real Estate

Bay Head luxury homes for sale are found in the town's large historic district - one of the largest in New Jersey - which encompasses roughly…

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How Long Does It Take To Close On A New Home?

How Long Does It Take To Close On A New Home?

Buying a house is one of the most important decisions you will make. It may be something you've been dreaming about for as long as you can remember, so it's imperative to take your time and find the perfect home. To get you started, here are the steps between the day your offer is accepted and the day you get the keys.

1. The closing process begins: Plan for the big picture

The day you sign your contract to buy a house is an exciting time. A house closing process typically takes 30-60 days, but you must take your time and get the paperwork done correctly.

2. Place your offer

Most buyers use a real estate agent to help them submit their offer. The real estate agent researches the market, negotiates a…

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How Pumpkin Spice Lattes and Home Values Are Connected

Having access to a good cup of coffee is more important than ever, and pumpkin spice lattes are an even bigger reason to visit a coffee shop at this time of the year. What does all of this have to do with home values? There’s more to it than you realize.

Consider the Demand for Coffee

Did you know there are more than 19,000 Starbucks locations around the world? This $15 billion company is well recognized as a must-have, especially on the daily route to and from work. For home buyers, buying a home that’s close to a Starbucks actually could be very important, and for home sellers, being close to one could raise your home value.

Don’t think that it’s true? A study by Quartz showed that, in fact, it is! They looked at the…

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Buying or Selling in the Next 12 Months: What You Need to Know Today

There are many different reasons you might be thinking about selling your home. Perhaps you want to downsize (or upsize), perhaps you want to take advantage of the market, or maybe you need to move to another area of the country for your company. Regardless of the reasons, there are many things to consider before you speak with a real estate agent.

You probably already have a good grasp of how the home-buying process goes since you've done it at least once before. But if this is your first time selling a home, there’s plenty more to learn. Even if you have sold a home in the past, the market is always changing. 

If you're thinking about buying a home within the next year, or buying a home after you sell your current one there are a few…

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Just Listed - 912 Ocean Avenue, Mantoloking - Breathtaking Seashore Home

If you're looking for a breathtaking seashore home that offers both elegance and privacy, you'll want to check out this amazing three-story property in Mantoloking, New Jersey. Featuring six bedrooms, two and a half baths, and a stunning backyard with swim/spa and panoramic views of the ocean, this home is perfect for anyone who loves spending time by the water. The open living room and dining room are great for entertaining guests, while the gourmet kitchen with maple cabinets and stone countertops will make mealtime a breeze. Upstairs, you'll find four cozy bedrooms along with two full bathrooms. 

And if you have extra guests, the third floor offers two additional bedrooms for their convenience. But the real showstopper of this home is the…

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Just Closed - 574 Harbor Road - Idyllic Waterfront Living

574 Harbor Road, Brick , New Jersey 

Dreaming about idyllic waterfront living where you can moor your pride and joy between adventures exploring the local waterways? This stunning home boasts 96ft of water frontage with a private dock, a boat lift and a channel right off the back with deeper water ready for the boating enthusiast. The layout spans 4,530 sq ft with the current owner undertaking an extensive renovation, down to the studs, in 2006 and completing a contemporary 1,460 sq ft addition to create this luxurious residence. A den and a formal dining room sit alongside the foyer with the open layout drawing you through to the large sunken living room with a fireplace. The kitchen is a chef's dream with an island and quality appliances along…

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