Friday, June 1, 2012

Buying and Selling Homes’ in NYC & South Jersey

Several years back I had a great opportunity to be able to buy and sell homes at great prices.  This was actually a few years before the housing bubble exploded, forcing people into unforeseen foreclosure or financial crises.

My first income property was in Brooklyn, NY.  It had all the great potential of buying low and selling high, our tenants I must say, were the best that you can find. They paid on time and took care of the property.  They were the overall perfect tenets. 

Years later we decided to sell the property to take advantage of the equity we had acquired; we wanted to reinvest the money into a new property.

The process of selling was fairly easy and the mortgage company was exceptional. "If you currently own a home, you can save money with a refinance."

Once the property sold we reinvested  in Staten Island NY, it was an up and coming boro at the time. In the interim we bought and sold two homes, one was our family residence and one was an income property.

At this time the housing market was at full bloom, so we again decided to sell our homes in Staten Island NY, and reinvest and upgrade to a larger property in South Jersey.  

South Jersey has amazing one family property’s of over 3000 sq. feet for a mid-range of $350,000.00 and up.  That was considered unfathomable compared to NYC prices.  You cannot purchase a condo for that price in NY.

We have lived in south jersey for over 7 years; we have also had to refinance our home, do to unexpected house expenses.  But all in all we are happy with our choice.

One thing I would do differently is, I would not have come this far out,  I really did not investigate the area the way I should have,  this is a note to all,  INVESTIGATE your job surroundings before you make a decision.  The reason for this is when the housing bubble burst so did all the jobs, and being this so far south comes with its negatives, you are not close to a large city, and large cities have a larger pay scale, it is also harder to find a job which is consistent to the NY life style I was used to.   But what actually is?

There are still many great home buying opportunities to pick from and if you already own a home, you can refinance to save monthly expenses or even fix up your home or just use the money for yourself and enjoy life.

Author – Ann Ricci- Owner of the COUPON CLIPPING SERVICE PRO , Blog


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