The Bolcar Team

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Montclair, NJ
15 Bloomfield Ave, Ste. 104
Montclair, NJ

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The Bolcar Team Blog


    Verona Home For Sale in Afterglow Showcases Ultimate Salt Water Pool
    If you are looking for the ultimate retreat home with the most amazing pool, look no further because this could be the one you have been looking for. I've been listing homes for over 30 years and this has to be the best pool setting I have seen in all the pool homes I have been in.  Multiple levels of seating areas and rock formations, waterfalls, hot-tub (year-round use) with this saltwater, heated Gunite pool, outside kitchen and bar, surround sound around the entire perimeter of the property.  It is an entertainment paradise.  The waterfalls, lighting and sound are all operated remotely from your smart phone.  The 5-bedroom home was built in 2002 and offers 3,500 s.f. of elegant living space.  Secluded behind wrought-iron gates in the Afterglow section of Verona, the pool is expertly built into the hillside.   The home is practically in Montclair and right on the border just one mile from the NY train.   If you find Montclair prices and taxes too competitive, I find this home has more space for your dollar and softer on taxes.  What is actually amazing is that this pool is an absolute bonus for the price because the owner cannot retrieve the high cost of building the most amazing pool in the entire town (or anywhere for that matter). I am so impressed, as is everyone visiting the home, that I wanted to get the word out there for anyone looking for a 5 bedroom colonial with a pool, your search could end with this one.  I am holding an open house this Sunday, October 23rd from 2 to 4 p.m.  So do join me poolside (you can also take a peak at the fabulous home that comes with the pool) and I'll be happy to show you around.  A steal at $1,075,000  89 Sunset Avenue, Verona, NJ  07044  (Off Mt. Prospect Ave) Link to video Sandra BolcarBroker Associate & Listing Specialist201-247-5768   Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    Do you love "living in Verona?"
    Every town deserves a voice.  There are town news media sites, school sports groups, mom's groups, but the best place to have a conversation about what you love about your town and give and get recommendations to the best restaurants, doctors, dentists, landscapers, baby sitters, and happenings around town is in a conversational group.   The success of I Love Living In The Caldwells has spurned a sister site called I Love Living in Verona.  I have been a realtor in these two communities for over 30 years and I have so many happy buyers who have located to these towns, where better to converse with new neighbors than on a conversational group.If you are logged into Facebook, please link through to I Love living In Verona and join this new group which I hope provides much love for the town.   From the beautiful mile-long Verona Park to the great restaurants and boutique stores, the warm and friendly residents, this is the place to call home!Sandra BolcarBroker Associate, KW NJ Metro Groupwww.thebolcarteam.com Like The Bolcar Team on FacebookRobert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    Open Houses This Sunday, November 8, 2:00 - 4:00 P.M.
    114 Davis Avenue, Bloomfield - $349,000Updated and ready to move right in, this smart 2-3 bedroom colonial is on an oversized lot in the coveted Brookdale area of Bloomfield. Gleaming Peruvian Cherry hardwood floors greet you upon entering along with custom colonial moldings throughout. The galley kitchen offers ample food prep counters for your inner chef. The bedrooms and bathroom on the second level are sunny and cheerful. The private fenced yard has an entertainment area and pergola. The driveway is accessible from the side street and the sheer size of the property offers the opportunity to put in a pool. Located just steps from Clark's Pond and blocks from popular Brookdale Park and the shops of Upper Bloomfield/Brookdale, the DeCamp bus to NYC is a block or two away. 5 Glenfair Road, Fair Lawn - $465,000Clean as a whistle, this 3-bedroom, 2-bath ranch is renovated and ready to move right in. The open floorplan flows nicely from the living/dining room combo into the family room with wood-burning fireplace. The galley-style kitchen boasts high-end stainless steel appliances, granite countertops and a separate dining area. Gleaming dark hardwood floors throughout the living room add an air of sophistication to this immaculate home, which has a brand new roof, furnace, central air system and water heater as of 9/15. The finished basement has new carpeting, a rec room with wet bar, office and full bath. Located in the Radburn section of Fair Lawn on the Glen Rock border, this home is close to parks, schools and major shopping on Route 4, and it?s 1 block away from NYC transportation. 8 S. Mountain Avenue, Montclair - $925,000This Classical Revival style home was built in 1887 by the Lloyd Family and was considered one of the finest landmark homes in town. Its architectural style is a blend of vintage features and modern luxury living. Seasonal NYC views, gorgeous woodwork, high ceilings and sleek hardwood floors lend an air of stateliness to this home. It boasts a third floor retreat, home office with separate entrance, and a number of recent renovations, including the eat-in kitchen, bathrooms and first floor laundry room. Multi-zone central air & heat ensures year-round comfort. Best of all, it?s moments away from in-town entertainment, transportation and fine dining options, including the Montclair Art Museum. This property is the original home within a planned-unit development including 4 condo units. The HOA fee covers snow removal and yard maintenance.  Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    114 Davis Avenue, Bloomfield, NJ 07003
     Our new listing in the desirable Brookdale section of Bloomfield offers plenty of space and character. This charming 3-bedroom Colonial boasts Peruvian Cherry hardwood floors throughout the first floor and custom mouldings between the living and dining room. The spacious backyard with privacy fence has an entertainment area that's perfect for showcasing a pergola or sitting pavilion, and there's plenty of space for a swimming pool if you decide to add one. It's also conveniently located just blocks away from the DeCamp bus to NYC.  Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    OPEN HOUSE 9/27 - 464 Morris Avenue, Boonton, NJ
    Offered at $899,000Totally renovated by an award-winning designer, timeless features like high ceilings, top-of-the-line appliances and a romantic wraparound porch make this stunning 7-bedroom Georgian Colonial one of the most beautiful homes in Boonton. For $899,000, you get 6,600 square feet of living space. A comparable home elsewhere would list for upward of $1.6 million. Immerse yourself in the small-town feel of artsy Boonton while still enjoying easy access to NYC via the Boonton Train Line, which continues through Montclair. Boonton has also been ranked #4 of the 10 Best Small Towns to Live in America. Its "main street" appeal of lovely boutique-style shops and antique stores makes this town one of Morris County's hidden gems.Click here to request more information on 464 Morris.See an Interactive Floorplan of this home.Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    464 Morris Avenue, Boonton & 8 Woodland Avenue, North Caldwell
    Thinking of buying a new home just in time for fall?These stately homes are now being offered at lower prices. If you want the tranquility and privacy of a quiet, wooded neighborhood without having to go too far away from the city, Boonton and North Caldwell could be perfect for you. 464 Morris - $899,000As it starts to get colder, warm yourself by one of two elegant fireplaces. There's one in the incredible master bedroom with high ceilings, and another in the elegant family room. The initimate dining room boasts a one-of-a-kind hand painted wall mural. Totally renovated by an award-winning designer, this is truly a home with style, character and class. 8 Woodland - $1,449,000 This stunning 5-bedroom home offers and inviting open floor plan and over 5,000 square feet of living space. You'll look forward to hosting big gatherings in the luxurious, spacious kitchen with custom appliances, which shares a 3-zone built in stereo system with the kitchen, living room and backyard. The massive finished basement adds an additional 2,000 square feet of recreational room as well as its own party prep area. Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    5 Tips for Buying New Construction Homes
    Things to Know Before Putting in an Offer on a New Construction Home The idea of a new construction home is definitely appealing, but it?s important to remain realistic about your expectations. New construction transactions work differently from resales. Builders are not like regular sellers in that they have no emotional attachment to their listings. Their main concern is to make a sale. Consider the following before putting in an offer on a new construction home: 1. You Will Probably Pay the Full List PriceUnlike resale transactions, there is usually no back and forth negotiation on a new construction home. Builders dislike lowering prices because it sets a lower precedence for future sales. If the builder has inventory that has been sitting for a while and needs to move, you may be able to talk them down from their original list price. Search for homes that have been on the market for 45 days or more.  2. You can take advantage of incentives.The builder?s #1 goal is to get you to purchase the home at list price. In order to make that happen, oftentimes they are willing to compromise. They can sweeten the deal by agreeing to make upgrades at no additional cost or offering to help with closing expenses. 3. Your home won?t look exactly like the model.Model homes are always outfitted with the best appliances, fixtures and materials. The purpose of this isn?t to mislead you, but to help you imagine what the finished product can look like at its very best. Standard home configurations usually involve cheaper materials. Keep in mind that selecting the more expensive options can save you more money by eliminating installation fees.  Once a new construction community nears completion, the model home may go up for sale. While it?s still a new home since nobody has lived in it, remember that the model home has seen a lot of foot traffic. Hundreds of prospective buyers have walked through, and the builder might have even used it as an office prior to going up for sale. Since the home is already built, you also won?t get the option of customizing it beforehand. If none of those things bother you, you?ll be getting the best house on the block with all the top-of-the-line features. 4. You can?and should?work with a realtor.Most new construction homes are staffed by realtors who work directly with the builder. It?s a good idea to bring in your own agent, who will represent your best interests and point you in the right direction. A good agent should also be a neighborhood expert, and will likely be familiar with the builder?s past listings. Once you decide you?re ready to buy, your agent will help you put together an attractive offer. 5. Expect to still encounter issues. Just because a home is newly constructed, doesn?t mean it won?t come with any problems. Ask your agent to put you in touch with a reliable home inspector who will ensure that everything is built safely and up to code.   Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    3 Great Reasons to Hire a Realtor Instead of Going FSBO
    Save Time, Money and Peace of Mind By Trusting an ExpertSellers who wish to avoid realtor fees may instead choose to put their homes up For Sale By Owner. What they don't realize is that marketing a home is a long and involved process, and it can get complicated--especially if you?ve never done it before. There?s more to it than just sticking a sign in the yard and uploading photos online! In fact, listing your home as a FSBO can actually cost you more money in the long run. 1. Realtors are a treasure trove of information. Most sellers don?t know enough about the local market to get the selling price their home deserves in the timeframe they plan for. Working with an agent gives you access to invaluable data and insight on local market conditions. What are other homes in your neighborhood selling for? How can you make your home more attractive to potential buyers? What repairs are you responsible for? These are all questions your realtor can answer. 2. Realtors are well-connected. When you hire a realtor, you?re not just hiring that single agent. You?re affiliating yourself with a whole network of professionals. Experienced agents in particular can connect you with the most reliable contractors, inspectors, stagers and mortgage lenders. These are tried and true contacts that your agent has worked with in the past, so you'll feel secure knowing your home is in the hands of experts you can trust. 3. They?ve done this before. The selling process can be confusing, especially if it?s your first time. There's a lot of paperwork involved and a lot you need to do to prepare your home for a sale. Without the insight of an experienced professional who has sold homes in your area, you're likely to feel a little overwhelmed. It's an agent's job to represent you in a transaction and help you make the most beneficial decisions.   Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    Surviving the Home Inspection
    Congratulations! You?ve submitted or accepted an offer, gone under contract and reached the Home Inspection stage of the transaction. This can be a stressful time for all parties involved. As a seller, you may feel as though your home is under the scrutiny of a magnifying glass. If you?re buying, you are understandably anxious to ensure that the home is delivered to you in the best possible shape. Of course, it would be unreasonable to expect anything other than a new construction home to be in perfect mint condition. Even the sturdiest dwellings endure natural wear and tear. The purpose of a home inspection is to help buyers and sellers reach an agreement as to which repairs should be addressed and whose responsibility it is to address them. Keep reading for a breakdown of how to achieve a stress-free, smooth home inspection.  1. Stick to the PlanThe Home Inspection is not an opportunity to re-negotiate the contract. Remember, the point of the inspection is to identify major issues. Cosmetic repairs are not a priority. Buyers: if you notice that something is damaged, have the issue brought to the Seller?s attention before signing the contract. Request repairs in your offer, not during the home inspection.  2. Do Your ResearchAvoid surprises during the home inspection by taking a good look around your home before putting it on the market. This way, you?ll be better prepared to pay for any repairs that may be requested.  2. Leave the Hard Work to Someone ElseSellers, it?s in your best interest not to offer to perform repairs yourself even if you know how. Instead, offer up the cash value of the repair. The reason for this is that you want to avoid giving the Buyer the opportunity to request endless repairs. Obtain an estimate, provide the money, and allow the buyer to select a contractor that they trust.  3. Act in Good FaithAs with all transactions, it?s important to establish a balance of give and take. Agreeing to meet halfway will make everyone happy. Sellers, you don?t need to feel responsible for every repair requested by the buyer, but be sure to address issues that would be a problem for anyone, like faulty plumbing or an old roof. Although most states do not legally require you to make repairs before selling your home, remember that you must keep the offer attractive for your buyers. 4. Trust Your Real Estate AgentIt?s your realtor?s job to help you navigate the tricky process of buying a home. An honest and reliable agent will always keep your best interest in mind. Find the right agent, and then trust them to negotiate on your behalf and help keep you level-headed during a home inspection. Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    464 Morris Avenue: A Personal Touch
    One-of-a-Kind DetailsOne of our favorite features of 464 Morris Avenue is the incredible hand-painted mural in the dining room. We've never seen anything quite like it! What sets this home apart from others is the impeccable attention to detail--it's clear that it was put together with love and care. You won't find another quite like it.From the perfectly selected furniture to the high-end fixtures, materials and appliances. This home embodies perfection. It boasts timeless architectural details like rows of transom windows and high ceilings with custom-engineered beams. There's even a sauna in the full, finished basement, which makes an excellent guest area. For more information of 464 Morris, email Sandra Bolcar or give her a call at (201) 247-5768. Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    Modifying Your HOA Home
    HOA Regulations: What You Need to KnowPlanning on making a major structural change to your HOA home? Before you go any further, be sure to have your plans approved by your HOA. Small, aesthetic renovations are generally permissible so long as they don?t affect the common area or alter the character of the home, but architectural modifications are a little more complicated. How much are you allowed to modify an HOA home? The short answer is that it depends on each association?s individual guidelines and policies. If you live in an HOA community made up of mainly single family homes, the association?s main concern will be the appearance of the property. In this case, the HOA is more likely to be flexible regarding architectural modifications. Keep in mind that each association follows certain design and material standards, and sometimes these rules even go so far as to cover what kind of colors and brands may be used in the home. It?s a different story for condominiums, which share common walls. In that instance, the HOA is responsible not only for upholding aesthetic standards, but maintaining the structural integrity of each building. A shared wall means that changes made to one unit may affect another.In both cases, the HOA must be made aware of all planned modifications. They can then determine whether or not the proposed change threatens the structural integrity of the entire building. Proposals are generally submitted to the HOA board for written approval. For structural and utility work, you will most likely be required to submit architectural plans, permits and contractor agreements.It?s also worth noting that once work is approved, the HOA may place a limitation on what times contractors are permitted to work. For example, they may be restricted to working only from 9:00 ? 5:00 on weekdays to avoid upsetting neighbors. Why does the HOA have a say in the appearance of your home?The HOA?s main job is to sustain home values and quality of life by preserving the look and feel of a community. In return for the cooperation of its residents (and, of course, a monthly fee), HOAs provide valuable services such as lawn maintenance and snow removal and ensure that the neighborhood is always pristine and aesthetically pleasing. HOA guidelines may be strict, but you?ll never have to worry about the appearance of the house next door affecting the value of your home!   Looking for a home in an HOA community? Send your questions over to Sandra or use our Advanced Home Search. Here's an example of just how great HOA homes can be: check out this video of 5 Kinzel Lane. It's located in the Grande, a prestigious neighborhood in beautiful West Orange, NJ made up of 83 superior custom-built homes. Nearby points of interest include St. Barnabas Hospital, Essex Fells Country Club and the Pleasantdale Chateau Resort.   Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    41% of Americans Prefer New Construction
    According to a recent study by Harris Poll, 41% of Americans would prefer to purchase a newly built home instead of an existing one, citing advantages such as modern features and less maintenance. While older homes must be taken as they are, new construction gives the owner the ability to customize the house before it's constructed. There's no need to search for your dream home when you can have it built from the ground up! However, there's a catch: Trulia estimates that newly constructed dwellings can cost 20% more than older homes. An experienced real estate agent can act as a negotiator between you and the builder and help you to work within your budget and stay true to your vision. If you?re interested in new home construction, click here to learn more about how the Bolcar Team can put you in touch with the right builder and help you achieve your vision of the perfect home.Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    First time homebuyers are you ready for the 2014 market?
    The spring market for 2014 is heating up.   2013 took us by surprise but are we are ready for 2014?  With less homes on the market and a higher demand, how can you land the home of your dreams?   Often, when a home you like first comes on the market, 7-10 other buyers like it too and when you want to make an offer how do you go about that?   As a first time homebuyer, using an experienced realtor who knows the multi-offer market is the best way to ?stage? your offer.    That realtor will give you a range of low to high on where it makes sense to bid on the house.  If your offer is too high and the home doesn?t appraise will you have to make the difference up in cash?   Does the seller?s agent look for downpayments that exceed 20 percent down?   Is it better to shop by price or your comfort payment amount?  What towns are experiencing multi-offers?If you are planning to buy your first home in New Jersey, get all of these answers and much more.  We will send you your first time homebuyers e-book on the 8 things to look for when purchasing your first home.Order now and get our answers before you shop for a home in 2014. Order Your BookRobert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    1ST-TIME HOMEBUYER'S WORKSHOP HELD IN MONTCLAIR NJ 2/22 11am-1pm
    LOOKING TO BUY A HOME THIS YEAR? FIND OUT EVERYTHING YOU NEED TO KNOW FOR THIS COMPETITIVE MARKET IN A TWO-HOUR SESSION Learn from Bob and Sandra Bolcar, veteran real estate agents with Keller Williams Realty NJ Metro Group,  how to be the first through the door of some of the hottest homes on the market and how to stand the best chance of getting your offer accepted. Your offer got accepted ? now what? Learn from Atlantic Home Loans on how to prepare and apply for a mortgage and get the best deal. Hear it direct from an attorney on understanding the terms of your contract and how to keep it together through attorney review. Be in the know with helpful tips from THIS Total Home Inspection Services. What to expect in closing costs and getting a clear title through Foundation Title. Hosted by The Bolcar Team at Keller Williams NJ Metro Group 15 Bloomfield Avenue, Montclair 07042 Parking and entrance to KW BEHIND Panera RSVP RECOMMENDED 973-744-7722 or e-mail info@thebolcarteam.com Come early for light refreshments and get your free E-BOOK ?7 REASONS WHY NOW IS A GREAT TIME TO BUY A HOME? visit us on the web at www.thebolcarteam.comRobert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    EXQUISITE 5 BEDROOM TUDOR IN VERONA OPEN TOMORROW FROM 1-4 P.M.
    Open House
    February 09, Sunday 1:00 PM - 4:00 PM
    Address
    35 Mountain Road, Verona, NJ
     
    Click for Directions!
     
    Price
    Click For Current Price5 beds 4 BATHROOMS ( 3 full, 1 half )
     
    View Property Website for more information,pictures, current price, maps, schools and more!
    Description
    Stately Tudor-inspired home located in the sought-after Oakridge neighborhood of Verona. For vintage lovers, appreciate the exquisite period details inside and out--from brackets and carpels, metal-mullioned windows to high mantels, badge impressions and crests. A butler pantry offers added space to the kitchen upgraded with granite & stainless steel appliances. Beautifully finished hardwood floors, high ceilings, leaded glass windows, french doors, double-sided fireplace in the living room/den & a screened-in porch complete the formal 1st floor. The 2nd floor has 3 bedrooms compete wit...
     
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    The Bolcar Team
    Keller Williams NJ Metro Group
    201-247-5768
    info@thebolcarteam.com
    Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    How much is that house again?
    This spring should certainly be enlightening on where realtors will actually price homes.   After an uplifting 2013 selling season, we are in store for some eye-opening prices as homes hit the market in the next 12 weeks.   Depending on the town, percentage increases over last year will be between 4-8% on average but as high as 15% in some trendy, metropolitan towns like Montclair, Glen Ridge and The Caldwells, NJ where multi-bidding soared to new heights in the past 12 months.  Home prices easily surpassed list price by $50-$100,000 for most homes over $500,000 and one smaller home in Glen Ridge went a whopping $300,000 over list in a blitz of frenzy.   The young, hip buyers with great credit, good income and 40-50% down (or cash in more than enough cases), are vyng for the turn-key homes like bees to honey.  Five to ten buyers swarming to the next superlative home as each home gets swallowed up by the fast-paced, emerging market. Attorneys are already savvy to the new 'bubble' and if appraisals can't keep up the pace, terms are hard and fast on no-exit clauses when homes don't appraise.   Buyers have to agree in attorney review that they will make up the difference in cash if the home does not appraise.  So where does that leave agents selecting the most qualified buyers?   20 percent down is almost a dirty word in this new wave of buyers for that very reason.  Realtors are now looking at buyers with 40% down as the new 20% down.   Ever wary of high offers that won't appraise thrown on the bargaining table, realtors in the know are careful to select terms over extremely high bidding prices. So how do we educate our buyers for this fierce spring market approaching?  For one,  let's go with the priceless menu.   Talk buyers out of getting hung up on listing prices.  Let's go with the comfortable monthly payment range first and then figure out the homes of value that fall in that range .   Since a listing price is the guide price that a realtor sets, buyers should not think "I won't bid over list price" because they can get left in the dust.  "Ok, if the realtor listed this home $20,000 higher, would you feel like you were getting a bargain at $10,000 over list price?"     For those who refuse to get caught up in a "bidding war", the home could be completely under-priced for the market to create the '"buzz" and therefore a sensible bid over list price could be most appropriately the winning contract. What it really comes down to is that buyers should use competent realtors to educate them in to what a home should or could actually sell for.   There is always a suitable 'range" rather than a hard-and-fast price.  Will it really matter 10 years from now that a buyer paid $20,000 more than the guide price to get the home of their dreams versus losing it to someone else over $100 a month?    Let's go with the monthly payment and not the price! Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    Foreclosures Explained
    Foreclosures Explained The Bolcar Team, North Jersey Real Estate Specialists at Keller Williams                                     NJ Metro Group, Montclair NJ 862-210-0754 There are a lot of statistics out there about foreclosures. But when you understand what a foreclosure is and how it works, it takes some of the fear out of the unknown. Let's understand the basics, a mortgage foreclosure happens when a lender exercises its lien against a borrower's home in order to sell the house to pay off the mortgage loan. This, of course, only happens after the borrower has failed to make mortgage payments for an extended period of time, has ignored notices that the payments are behind, and hasn't bothered to call the lender to see what can be worked out. So how did we get from popping the champagne cork on closing day to having our belongings set out on the lawn? It didn't happen overnight: Step 1 Notice of default is recorded by the bank. This happens after you've missed a payment. In the past, this happened only after several payments were missed. Banks now are trying to move homeowners to action long before the point of no return. So you've missed one or several payments, and now the bank officially records the notice of default. Now is the time to do some real thinking. Step 2 Opportunity to reinstate the loan You have the power to stop the foreclosure process. One way is to reinstate the loan. Bring your loan payments current plus the late fees and whatever penalties are assessed, and you have just reinstated your loan. You've stopped the foreclosure. Step 3 Date of foreclosure is set by the bank But what if you can't pay the back payments and other fees? We've come to the third step of the foreclosure process: the bank sets a date of foreclosure. Typically, the date is three months (about 90 days) after the bank sets the notice of default. I would call your local Sheriff's department and find out how they proceed with the foreclosure process. You are allowed to live in the house until the actual date of foreclosure. You cannot be evicted or thrown out of the house until this date. You still have time to come up with that money. You may still be able to proceed with a short sale. Step 4 Notice of trustee sale is prepared, published and posted: Now the bank prepares the notice of trustee sale. The bank will publish it. The bank then mails you a copy of the notice and physically posts it on the outside of the house. You still have time to bring the payments current. Step 5 The house is sold at a foreclosure auction: We've come to the final step: the foreclosure auction sale. If you are still living in the house and it is sold to a bidder at the auction, the winning bidder can have you evicted by the sheriff within 24 hours. If the house doesn't sell, the bank will show the house just like you would if you were selling the house yourself. The bank may also have you evicted within 24 hours, or the bank may decide to let you stay until the house sells. The Bottom Line If you miss one payment, don't let it turn into two. Find the money, even if you have to borrow from family or friends. Although the process may be stopped, the earlier you intervene, the easier it is to stop. The Bolcar Team, North Jersey Real Estate Specialists at Keller Williams                                     NJ Metro Group, Montclair NJ 862-210-0754 Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    A Short Sale Success !
    I just closed a short sale with Chase Bank. I was the listing agent as well as the buyer's agent. I have to say Chase Bank was a pleasure to deal with. The seller in this case owed on the mortgage nearly $350,000. She is a typical hard-working woman who simply lost her job and as of a year and a half ago was current on her mortgage. With only enough help to cover her utilities and food she didn't know what to do. Being denied unemployment she was in a really bad situation. A family member went online and found The Bolcar Team website.  She contacted me as a short sale specialist in Essex county. When we met, I felt her anquish. She wanted to keep her home of twenty years but realized she could not. It took experience and patience and with a cooperative seller I was able to close this deal in 3 months.  In the end Chase Bank approved the purchase price and sent a letter to the seller offering a cash incentive to move. You can imagine my delight when I was able to inform her that I negotiated for her to receive $35,000 from Chase Bank. For her that is almost 3 years worth of rent. Based in Montclair NJ, we list and sell a variety of homes. It is always satisfying when we assist someone in their real estate experience, but it is stories like this that are the most rewarding. Short sales can be hard work and it's not an easy sale but you can affect somebody's life in such a good way and help them that makes it all worthwhile. Remember to use The Bolcar Team at Keller Williams NJ Metro Group in Montclair NJ for all of your real estate needs.Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"

    What is a Short Sale
    WHAT IS A SHORT SALE? A short sale happens when a homeowner owes more on his mortgage than his home is worth in today's fair market value. Therefore, the home is underwater, or upside down. A homeowner's real estate agent then negotiates with the owner's bank to accept less than the balance of the mortgage. For example, if a home is only worth $400,000 but the owner has a mortgage balance of $500,000, then he will be $100,000 "short" when he goes to sell his home. DO I QUALIFY FOR A SHORT SALE? In order to qualify for a short sale, you must show that you are experiencing some kind of financial hardship. For example, if your income has dramatically dropped, or you have lost your job, or you are a few payments late on your mortgage and having trouble keeping up. In other words, if you're on a steady road to foreclosure, then you are very likely a perfect candidate for a short sale. Also, the home must be worth less than the balance of your mortgage. WHAT IS THE SHORT SALE PROCESS? The first step in pursuing a short sale is speaking with a knowledgable short sale agent who can run a home evaluation of your property and determine if you qualify for a short sale. Next, your home will be marketed for sale, and buyers will present you and your agent with offers. You will accept the highest offer and your agent will submit that offer, along with your short sale application to your lender. The process can take anywhere from 1-4 months, depending on your lender. In many cases, you can complete a short sale with little or no cost out of pocket. This is why it's so important that you work with a short sale specialist, and not just any agent you know. WHAT ARE THE BENEFITS OF A SHORT SALE? There are so many benefits to doing a short sale compared to the alternative of being foreclosed on. For starters, when you go through a successful short sale, your credit is only affected for around two years. That means you can rent for a couple of years and then you can buy another home and you're right back to homeownership. If you are foreclosed on, that hits your credit very hard for around seven years! Also, many banks are now offering homeowners move out financial assistance to cooperate with the short sale, which means they will sometimes pay you to move. Don't expect that kind of treatment with a foreclosure proceeding. MORE INFO ON YOUR SHORT SALE Since every situation is different, we recommend you speak to a short sale specialist that works your market area. Every state has different rules and tax implications. Consult short sale specialist to see if a short sale is right for you.Robert Bolcar, Buyer and Construction Consultant & Short Sale Specialist                             SFR,HAFA,RESNET & EQUATOR Sandra Bolcar, Broker Associate, Listing and Marketing Consultant                                       e-Pro,SRES,SFR and ASP-Realtor "Experience The Difference"