Frequently Asked Questions
I cover Hunterdon, Morris, Somerset and Warren Counties. I specialize in Hunterdon County properties.
Getting pre-approved for a mortgage is the first step of the home-buying process. Getting a pre-approval letter from a lender gets the ball rolling in the right direction.
From start (searching on-line) to finish (closing), buying a home takes about 10-12 weeks. Once a home is selected and an offer is accepted, the average time to complete contract to close is 45-60 days (under normal market conditions). Though, well-prepared home buyers who pay cash have been known to purchase properties faster than that.
In seller's markets, increasing demand for home drives up prices. Here are some of the drivers of demand:
- economic factors
- lower interest rates
- low inventory
A buyer's market is characterized by declining home prices and reduced demand. Several factors may affect long-term and short-term buyer demand, like:
- economic disruption
- higher interest rates
- high inventory
- natural disasters
Most loan programs require a FICO score of 650 or better. Borrowers with higher credit scores represent less risk to the lender, often resulting in a lower down payment requirement and better interest rate. Conversely, home shoppers with lower credit scores may need to bring more money to the table (or accept a higher interest rate) to offset the lender's risk.
While the broad down payment average is 11%, first time homebuyers usually only put down 3 to 5% on a home. That’s because several first-time home buyer programs don’t require big down payments. A longtime favorite, the FHA loan, requires 3.5% down. What’s more, some programs allow down payment contributions from family members in the form of a gift.
Some programs require even less. VA loans and USDA loans can be made with zero down. However, these programs are more restrictive. VA loans are only made to former or current military servicemembers. USDA loans are only available to low to-middle income buyers in USDA-eligible rural areas
It was a great pleasure working with you on the sale of the Beaver Brook Condo in this most difficult and challenging housing market. Many thanks to you for your outstanding service, market knowledge and effort.
Ingobert R. (Pittstown)
Joe was very knowledgeable, responsive, patient and most of all a pleasure to work with. Highly recommend him for all your realtor needs.
Joe S. (Long Valley)
As a first-time homebuyer in a fast-moving market, Joe always made himself available to set up appointments, proactively send me relevant listings, answer all my questions, and show up to every showing. Joe constantly looked out for my interests, and the whole home buying experience was better because of him. I highly recommend working with Joe.
Vikki O. (Annandale)
I was nervous about selling my house as I heard stories about terrible agents. Joe was professional and very helpful throughout the selling process. He answered my many questions and kept me in the loop. I would highly recommend Joe.
Kathy W. (Pittstown)
Joe Tersigni was very helpful and really understood this challenging market. He was also patient and made us feel comfortable in getting our new home.
John P. (Bloomsbury)
I can say without a doubt that Joseph is a standout and truly brings his passion for the industry to his clients. We cannot recommend working with him enough! Thanks Joe!
Rich & Kelsey W. (Hampton)
Joseph Tersigni was amazing. From the very beginning, Joseph made us feel very comfortable working with him. He also demonstrated a high sense of ethics as a dual agent. Even more, he helped make sure all parties did as they promised in a timely manner. Finally, he always made time to meet us at the property, literally rain, snow, and freezing weather. I highly recommend Joseph and JerseyHomz!
Josae & Satoko W. (Washington Twp.)
I listed my home with Joseph and he did NOT disappoint. He worked extremely hard to attract the best buyer possible for my home. I will highly recommend using Joe to all of my family, friends and colleagues.
George J. (Washington Twp.)
Joseph was such a pleasure to work with. He was receptive, persistent, and very patient and accommodating to our needs. We highly recommend utilizing him as your realtor, and we look forward to working with him in the future.
Erin S. (Clinton Twp.)
Joseph guided us through the entire process and we finally got our dream home.
Amanda P. (Bloomsbury)
My wife and I used Joe as our realtor and had an amazing experience. Joe was able to sell our house significantly over asking price, coordinate key activities, and was always accessible. Separately, he helped us purchase our new dream home, which came with the same wonderful service. We strongly recommend Joe to all who are looking for a realtor. Joe is extremely talented, has a quick response time, and truly cares for his clients.