How Do Credit Scores Affect Home Loans?A surprising number of Americans do not know their own credit scores, despite the power these numbers have. In a recent survey on a financial literacy site, almost 30% of respondents admitted that they didn't know their credit scores. The issue was most prevalent among those under 30 and those making less than $30,000 a year. While personal finance and credit can be intimidating, understanding this area can make all the difference in the dream of owning a home. Learning a bit more about where credit scores come from and how consumers can enhance theirs is a great place to start.

For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.

Common Scoring Methods

Even among…

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The Essential Moving CalendarMoving is an exciting time during a homeowner’s life, but whether moving to their first oceanfront home or their fiftieth property, one thing that doesn’t change is how much work it requires to get everything in order. Staying on track while packing can be difficult when homeowners are also trying to juggle selling their home, and keeping a schedule can be a big help when it comes to making sure everything is running smoothly. When preparing to move into a newly purchased home, keep this calendar in mind, and it can help give homeowners what they need to be ready for moving day.

6-8 Weeks Before

At the beginning of the moving process, homeowners should begin with packing the low-traffic rooms in their home such as closets and guest bedrooms.…

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What Can Home Buyers Do About Foundation Damage? Every homeowner fears foundation trouble, and the same goes for home buyers. Foundation trouble can be expensive to repair and a hazard if left unchecked. If you've recently made an offer on a luxury or waterfront house only to have the home inspection reveal problems, it's important to know the details of foundation repair, and what can be done during the selling process to fix the problem.

How Serious Are Foundation Problems?

A bad foundation is a very serious problem for a home to have. A bad foundation can negatively affect a home's overall value. Without a good foundation, making repairs or remodeling the home may be very difficult. If the problem is serious enough and if it goes on for long enough, the home could even face collapse. The…

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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?

Much like group life insurance through your employer, individuals are not legally required to have homeowners insurance, however, it is often a prerequisite or the home mortgage process. Mortgage lenders…

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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 luxury or waterfront homes for sale. 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…

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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, that's waterfront real estate or otherwise, 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…

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What Are Home Buying Contingencies? If you're a home buyer making an offer on the waterfront home of your dreams, 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…

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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 new oceanfront 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…

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Or take it off the market until next year?

Less Competition: Many homeowners that consider taking their Manasquan, NJ home off the market during the holidays don’t want the hassle of showing their home. And most waterfront house sellers who are considering putting their home on the market wait until the first of the year or until spring time.  

  • Less Competition.
  • Fewer homes like yours to compete with.
  • With reduced inventory means more buyers looking at your home, in person and online.         

Motivated Buyers: Anyone who takes time out of their busy holiday schedule to shop for a home is a serious buyer now.  

  • Buying for tax reason before year end or 1031 exchange.
  • Some buyers motivated to buy now with pending changes to…

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While you may be ready to pass the cranberry sauce this season, is your tableware? No matter how skilled one is in the kitchen, without the proper serving dishes, a holiday feast can fall flat by the time it reaches the dining table. From platters to gravy boats, place your culinary accomplishments on display in these fine dishes. 

Juliska: Berry & Thread Deviled Egg Platter The patterns on this platter are both subtle and refined, making it the perfect dish to present your first hors d'oeuvres for the evening.   

Riedel: Vinum Stemware Collection

While not technically a dish, your glassware is just as important at dinner. Whether your guests prefer a glass of Chardonnay or Burgundy, this crystal collection by Riedel…

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