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Moorestown, NJ Real Estate News

By Karl Peidl, Accredited Loan Consultant
"Leadership is based on a spiritual quality; the power to inspire, the power to inspire others to follow." -Vince Lombardi Hall of Fame football coach       Karl PeidlAccredited Loan ConsultantPleasant Valley Home Mortgage Corp.Phone: 856-252-1224Cell: 609-254-6687kpeidl@pvhmconline.comwww.karlpeidl.com
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Avoid Changes to Your Financial ProfileDuring the Loan Process   Once your loan package has been sent to the lender, there are a number of things you should avoid doing that will change your financial picture. Remember, the lender is looking for stability and consistency. If you want the best interest rate, keep that in mind. Here are a few things to consider:The lender is looking to see what your source of down payment is.Your lender will most likely ask you to provide proof of your liquid assets. This includes bank statements for checking and savings accounts, verification of investments, and any other liquid assets. Some of the things they ask for may seem trivial, but keep in mind, if you are planning a move to a new home, it's important to have all documentation readily available....
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By Karl Peidl, Accredited Loan Consultant
"Discipline is doing what you have to do, and doing it as well as you possible can, and doing it that way all the time." - Bobby Knight College Basketball Coach
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By Karl Peidl, Accredited Loan Consultant
New Good Faith Estimate Rule Now In Effect Recent guidelines from Washington have forced a change to the way that loan originators will disclose closing costs for all homebuyers.  The purpose of the new Good Faith Estimate is to level the playing field for borrowers comparing loans to be able to make apples to apples comparisons for loan scenarios. In essence, HUD is working to bring all lenders up to the same standard of excellence in reporting closing costs that I have always adhered to, estimating realistic fees that a buyer should expect to pay at closing with no last minute surprises. What are the important facts you should be aware of?  Below are some important points to know: 1. All fees paid to the lender/broker are to be consolidated in one line, including processing fees, orig...
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By Karl Peidl, Accredited Loan Consultant
"Desire is the key to motivation, but it's determination and commitment to an unrelenting pursuit of your goal - a commitment to excellence.  That will enable you to attain the success you seek." - Mario Andretti Legendary race car driver
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By Karl Peidl, Accredited Loan Consultant
The Mortgage Market AdvisoryTMThe Week of January 11, 2010 Provided by Karl Peidl             Mortgage pricing ended the week slightly better by about .300 and kept the 30-year conforming fixed mortgage rate around 5.00%, The Employment report was weaker than expected last week and the unemployment rate remained at unchanged at 10.0%. The release of the Fed minutes was no surprise- they are committed to keep rates low "for an extended period of time." The minutes also revealed they care contemplating the continuation or extension of the MBS purchase program which has helped keep mortgage rates low through 2009. If they do not, the market will have to organically absorb $15-$20 billion per month on it's own- likely to increase rates due to supply/demand dynamics. The Week Ahead: While t...
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By Karl Peidl, Accredited Loan Consultant
    The Fed is meeting December 15th and 16th, and its actions could impact home loan rates! Don't Wait. Call me before the Fed acts so we can review your situation and determine if there's anything you need to do.           New Jersey: Licensed by the N. J. Department of Banking and Insurance Delaware: Licensed Lender by the Delaware Office of the State Bank Commissioner. Karl PeidlAccredited Loan ConsultantPleasant Valley Home Mortgage Corp.305 Harper Drive, Suite 3 Moorestown, NJ 08057 Phone: 856-252-1224Cell: 609-254-6687kpeidl@pvhmconline.comwww.karlpeidl.com © Copyright 2009. All About News, Inc.
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By Karl Peidl, Accredited Loan Consultant
Mortgage Rate Update Financial Reasons to Buy There are a number of personal and emotional reasons to buy a home. But there are also some strong financial reasons to make the investment. Here are just a few of those reasons: Increase Net Worth: Few things have a greater impact on net worth than owning a home. In a comparison of renters versus homeowners, the Federal Reserve Board of Consumer Finance found that the average net worth of renters was just $4,000 compared to homeowners at $184,400. A Big Tax Deduction: One of the largest tax deductions available is the amount of interest paid on a mortgage. In fact, a $150,000 home at a 5.50% interest rate can add up to approximately $8,000 in first year's interest. This amounts to a significant savings - effectively reducing the amount of ...
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By Karl Peidl, Accredited Loan Consultant
Mortgage Rate Update Homebuyer Tax Credit Extended and Expanded Great news for homebuyers! The Homebuyers Tax Credit has been extended into the first half of 2010...and it has been expanded to include benefits for current homeowners! Who Qualifies? First-time homebuyers may be eligible for the tax credit worth 10% of the purchase price of the home, with a maximum available credit of $8,000.In addition, the program now gives current homeowners an additional reason to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.Eligible Incomes: Single tax filers who earn up to $125,000 are eligible for the total credit amount...
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By Karl Peidl, Accredited Loan Consultant
  Rates Have Hit All-Time Low Levels Again! In case you haven't caught the news, home loan rates have done it again, dropping to their lowest level...ever. Not only has the 30 Year Fixed rate returned to its lowest all time level, rates across the board are at their lowest levels.Yes, that means, go ahead and choose your flavor - 30 Fixed, 15 Fixed, 5/1 ARM or 1/1 ARM - all loan types hit their lowest levels of the year! For the weekly Freddie Mac survey of all lenders, this is the first time that all have been at their lowest level.You must understand, though, that rates are artificially low! Last November, Ben Bernanke and the Fed put into place a program to lower rates. That program though is nearing its end, as the Federal Reserve has purchased over $1 Trillion of mortgage backed s...
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By Karl Peidl, Accredited Loan Consultant
ON-TimeTake Time Out for Planning Have you ever had days, weeks, or even months go by when you were frustrated in your work activities because you failed to implement the things that you know you need to do in order to be more successful? Perhaps you've taken pages and pages of great notes at seminars on the subject of how to improve your business, only to return to the office the next day and implement none of it. The reason this happens to people is because they lack a plan. More importantly, it happens because they are not practicing ON-Time.ON-Time is a time you set aside to work on your business instead of in your business. The simple fact is that in our daily routine, we are typically in a reactive state. The phones are ringing, the emails are coming in, there are voice mails to ...
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By Karl Peidl, Accredited Loan Consultant
Upside Down? You Can Refinance Up to 125% of Your Home's Value Even if you owe up to 125% more on your mortgage than your home is worth, you may be able to refinance. For example, if your home is worth $200,000 but you owe more than that, qualifying homeowners can now refinance up to $250,000.According to First American Core Logic, more than 15.2 million homes had negative equity in June 2009. This represents nearly 33% of all mortgaged properties across the country. Where in the past, being upside down on your loan would have precluded your ability to seek relief, you now may have an opportunity.The Making Home Affordable program was initially structured to accommodate homeowners with a new loan to 105% of their home's value. However, that amount has been increased to 125%. There are ...
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By Karl Peidl, Accredited Loan Consultant
How Purchase Loans Are Made A Step-By-Step Walkthrough 1.   Pre-approval - Get pre-approved for a mortgage and know in advance exactly how much house you can afford. Completing this step will also increase your negotiating power since you'll be viewed as a "cash buyer".   2.   Loan Search - Put yourself in the hands of an experienced mortgage professional, someone who will help you to determine which financing options best suit your needs today and in the future.   3.   Loan Application - It's crucial to supply the lender with as much information as possible, as accurately as possible. All outstanding debts as well as assets and income should be included.   4.   Documentation - Paperwork supporting the application must also be submitted. Information commonly sought includes pay stubs, ...
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By Karl Peidl, Accredited Loan Consultant
What's In Your Wallet? In recent years, there has been an explosion in the number of credit card issuers and - perhaps more confusingly - in the types of rewards being offered by those credit cards. So now, you not only need to consider the rate and terms of your credit card, but also what rewards or other benefits it offers. The following information can help you consider what types of rewards are out there and which is best for you.Airline Miles: If you travel frequently, then maximizing your airline miles may be the very best reward. And if you primarily fly on a single carrier, you will do the best to take their affiliated credit card, as they typically offer 'bonus' opportunities to earn extra miles. Cash Back: There are several items to consider when focusing in on cash back card...
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By Karl Peidl, Accredited Loan Consultant
  How Much Money Should You Borrow?   While it might be tempting to borrow whatever amount of money your lender is willing to give you, it's important to think carefully about how much you'll actually need to borrow in order to purchase a new home. From the down payment to taxes to insurance and interest rates, there are many factors to consider when making this important, life-changing decision. Contrary to popular sentiment, there is no standard formula for accurately calculating the specific dollar amount you should borrow when purchasing a new home. Many websites do offer special borrower calculators that claim to factor in important variables, and yet final results vary vastly from one site to the next. Other websites offer general rules of thumb, suggesting that you should never ...
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By Karl Peidl, Accredited Loan Consultant
The Mortgage Market AdvisoryTMThe Week of November 9, 2009 Provided by Karl Peidl             Last Week: Mortgage pricing continued to improve slightly again last week for the third week in a row. MBS and Treasuries were both improved last week with the 10-year TSY closing at 3.42%. The economic calendar was light last week and the market watched the Treasury note auctions closely since the Fed was not participating this time. The auctions went well on the 3yr and 10yr, but was a little light on the 30yr. Overall, strong demand continues for bonds - keeping a lid on mortgage pricing. Additional good news for mortgage rates could be found in the spread between the conforming 30-year fixed and the benchmark 10-year TSY. The spread is back to more normal levels of 160 bps- meaning at the ...
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By Karl Peidl, Accredited Loan Consultant
Mortgage Rate Update Don't Wait for a Tax Return - Get That Money Now for Holiday Shopping This time of year, millions of Americans find themselves wondering how they're going to pay for everything on their holiday shopping lists. Wouldn't it be nice if you had your tax return money now so you can use it for holiday spending? In a way, you can. The IRS allows you to increase the number of dependants on your W-4 withholding form, meaning that less will be withheld for taxes from each paycheck. In the past, if you claimed greater than nine dependants, an explanation and approval may have been required. But the IRS has lifted this restriction. This lets you have more money in each paycheck instead of "loaning" the money to the IRS and having to wait for a refund.But don't go overboard. Yo...
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First Time Homebuyer Tax Credit Extended Into 2010! Plus...A New Tax Credit for Certain Existing Home Owners! It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009. In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time. So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn. Additionally, the program now gives those who already own a residence some additional reasons to mov...
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Are You In for a Trick or Treat?Learn What Remains for Those Seeking a Home or Loan   The last weekend in October you were likely treated to a host of Halloween characters, all in search of treats, not tricks. People searching for a new home or a mortgage, whether they donned a costume or not, may have gotten a little of both. Home loan seekers have been treated to great rates all year long since the Federal Reserve announced it would be purchasing mortgage backed securities, with rates diving below 6.00% since last December. However, if you are looking to buy a home, according to the Case-Shiller index, home prices increased for the fourth straight month, possibly signaling the end to home price declines. So, the question now is what lies ahead? How About a Little Perspective?Applicati...
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By Leander McClain, Cecil & Harford County Realtor
Moorestown NJ July 2009 Homes Sales # of Homes For Sale = 205 # of Homes Sold = 15 # of Months Supply = 13.7 Type of Market = Buyers address subdivision bedrooms bathrooms sold_price days on market seller concessions 61 Foxwood Dr, Moorestown, NJ Blason Woods 3 2.2 $547,500 97   115 Oakmont Dr, Moorestown, NJ Laurel Creek 4 3.5 $838,000 36   610 N Lenola Rd, Moorestown, NJ Lenola 2 1 $143,000 329 $4,850 710 Worthington Dr, Moorestown, NJ Meadowbrook 4 2.5 $655,000 49   8 S Close, Moorestown, NJ Moorestown Mews 3 2.5 $310,000 181   599 Devon Rd, Moorestown, NJ None Available 4 2.5 $380,000 22   2 W Spruce Ave, Moorestown, NJ None Available 4 2 $480,000 32   200 Laurence Dr, Moorestown, NJ None Available 3 2.5 $505,000 115 $5,050 1444 Georgian Dr, Moorestown, NJ North Riding 3 2.5 $455,00...
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