Guidance for first-time home buyers

2017-03-02_11-47-28The economy is improving, interest rates are low and many consumers now find themselves in a great position financially to become a first-time homeowner. But the booming real estate market is resulting in rising home prices and increased competition for the most desirable properties.

The S& P/Case-Shiller national home-price index recently estimated that 2016 prices are within four percent of the peak in 2006. In some areas, low inventories around the country are making the situation even more challenging.

“Don’t get discouraged,” says Travis Peace, executive director of mortgage at USAA Bank. “Buying a home requires some fortitude.” Peace says it’s easy to concentrate too much on home buying “can’ts” rather than “can-dos,” and he offers this advice on how to overcome some common barriers. Continue reading

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Limited Inventory in Bergen County Condo Market Expected to Create Competitive Spring Selling Season

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MODEL PENTHOUSE UNIT AT TRIO IN PALISADES PARK

PALISADES PARK, N.J.– Spring real estate activity in Bergen County is expected to kick off early in 2016 as anxious homebuyers enter the market to take advantage of low interest rates, easier access to financing, and affordable pricing.

The likely surge in activity is expected to strongly affect the new construction condo market where inventory continues to decline and limited purchasing opportunities are available.  This is particularly true on or near Bergen County’s Hudson River waterfront where the majority of new construction activity has been highly concentrated on upscale rental homes.

“We anticipate the spring 2016 condo market will be very competitive, especially in the new construction sector,” says Jacqueline Urgo, President of The Marketing Directors, an exclusive marketing and sales agent active in Bergen County.  “With limited inventory, housing prices will steadily grow and savvy homebuyers will have to act fast to get the best deals available.  We’ve already seen a number of interested prospect visit our sales centers who are qualified and ready to move forward quickly.”

Trio, the upscale high-rise condominium minutes from the George Washington Bridge and the Hudson River waterfront in Palisades Park, is one of The Marketing Directors’ new home communities that has experienced an uptick in buyer interest heading into the spring selling season.  The collection of two-and three-bedroom homes has benefitted from the introduction of special homebuyer incentives that create unmatched value. Continue reading

Time Running Out to Benefit from Tremendous Savings at Trio Condominiums in Palisades Park

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INTERIOR OF MODEL PENTHOUSE AT TRIO

PALISADES PARK, N.J. – Time is running out to take advantage of special incentives that have already equated to thousands in savings for many homebuyers at Trio, the upscale collection of condominium homes in Bergen County’s Palisades Park.

Set to expire at the end of January, the special offers include $20,000 off the price of a one-bedroom home, $30,000 off the price of a two-bedroom home and $50,000 off the price of one of Trio’s spectacular Penthouse residences.  What’s more, every home purchase is being offered with a free parking spot.

“These incentives have made living at Trio more affordable than ever,” says Honey Hwang, Sales Manager for The Marketing Directors, exclusive marketing and sales agent for Trio.  “They’ve provided many interested prospects the opportunity to receive sophisticated condominium living in a full-service high-rise building at an incredible price.  However, we can’t make these special offers available forever, meaning those interested should act by January 31st.”

In a market dominated by new high-rise rental buildings and older condominium and cooperative buildings, Trio has emerged as a popular choice for buyers looking to own a home with the latest interior appointments and finishes in an amenity-rich, maintenance-free building.

Homes at Trio are priced from just $330,000 and are available for immediate occupancy.  The residences boast floor-to-ceiling windows, hardwood floors and modern recessed lighting. Gourmet kitchens include granite countertops, stainless steel GE appliances, custom maple cabinets and Kohler fixtures. Designer bathrooms feature Crema Marfil marble floors, granite countertops, custom maple vanities and Kohler fixtures. All homes also come with individual washers and dryers.

Situated on the top floors of the two nine-story Trio buildings, the limited collection of Penthouses boasts expansive living spaces with stylish finishes and appointments and prices starting at just $595,000.  Four distinctive two- and three-bedroom Penthouse floorplans are available with desired elements such as separate kitchen and dining areas, two-and-a-half to three bathrooms, spacious master bedroom suites with walk-in closets and designer kitchens.  Floor-to-ceiling windows bathe the homes in natural light, while hardwood floors, granite countertops, stainless steel appliances, marble floors and custom cabinetry add style and detail to every corner.

Some of the Penthouses offer spectacular New York City skyline views, while others feature spanning vistas of the western-facing landscape.

An eclectic collection of resort-like amenities and services at Trio offers homeowners the opportunity to participate in a wide range of activities.  Found within the buildings is a lounge with billiards, ping pong, a large screen TV and catering kitchen, a state-of-the-art fitness center,  yoga studio, game room, virtual golf simulator, outdoor terrace and a business center.

“Lifestyle plays an increasingly large role in a buyer’s decision on where to purchase,” says Ms. Hwang. “There’s certainly no shortage of things to do at Trio.  Our lifestyle amenities provide a well-rounded environment to enjoy, from a workout in the fitness center or yoga studio to practicing their drive in our golf simulator.  Residents don’t have to leave the buildings for recreation and entertainment.”

Located at 800 12th Street in Palisades Park, Trio boasts an outstanding Bergen County location less than ten minutes from the George Washington Bridge and the business, social and cultural offerings of New York City.

Trio is ideally situated in an established residential neighborhood minutes from a number of transportation options, including bus service. Shopping enthusiasts will find a myriad of opportunities at nearby malls, such as Riverside Square and Garden State Plaza, as well as a host of brand-name stores, specialty shops and boutiques, which line Route 4 and Route 17.

“Of course, the proximity to the George Washington Bridge and the New York Waterway ferry service puts Manhattan’s business, social and cultural offerings only a quick trip away,” Ms. Hwang adds.

For additional information on Trio, please call (888) 479-1842 or visit www.LiveAtTrio.com.

Prospect Mortgage Cited as Preferred Lender at the Lenox Condominiums in Union City

Model Interior at The Lenox in Union City, NJ

Model Interior at The Lenox in Union City, NJ

Sherman Oaks, Calif.  – Prospect Mortgage, LLC (“Prospect” or the “Company”) is proud to be the preferred lender for the Lenox Condominium project in Union City, NJ. The Lenox in Union City is pushing open the door to home ownership for more and more first-time buyers looking to enjoy upscale urban condominium living minutes from New York City.

“Our mission is to make the dream of home ownership a reality for every American,” said Sharon Dellay – Branch Manager of Prospect Mortgage’s Hoboken office.  “By offering an array of loan options, young couples and professionals can own incredible apartments with great amenities, located very close to Manhattan.”

Already offering favorable FHA financing programs that require only a 3.5% down payment, the 16-story Hudson County high-rise building has recently been approved for Fannie Mae-backed mortgages, providing buyers even wider access to competitive loan options. The path to ownership at The Lenox begins with extremely attractive home prices, starting from just $179,000.

“These two federal agencies are instrumental in helping first-time homebuyers take the initial step towards purchasing a home,” says Kelly Marzullo, Director of Marketing for The Lenox. “Combined with our affordable price structure, there are now several avenues for them to benefit from all the advantages of home ownership, such as building equity and tax advantages, at monthly payments that are well within their budget.”

More than 50% of the newly-renovated condominiums at The Lenox are now sold.  Studio, one-, and two-bedroom homes at the building boast Manhattan-style amenities, with some facing the Hudson River and Manhattan skyline. In addition to the state-of-the-art units and facilities, The Lenox is very close to mass transportation and major roadways for easy access to New York City and routes throughout NJ.

For additional information on The Lenox, please call (201) 866-8768 or visit www.thelenoxcondosnj.com.  The building’s Sales Center is open by appointment only.  Open Houses are conducted on Sundays from 1 p.m. to 3 p.m.

About Prospect Mortgage

Prospect Mortgage is a top ten national home purchase lender offering a full range of quality home loans, including FHA and VA, conventional, jumbo, renovation, and more. It is backed by Sterling Partners, a private equity firm with approximately $5 billion of assets under management and offices in Chicago, Baltimore, and Miami. For more information about Prospect Mortgage, visit www.MyProspectMortgage.com. Visit Prospect on Twitter at www.twitter.com/myprospectmtg and follow the company on Facebook at www.facebook.com/ProspectMortgage.