You are about to make the single largest investment in your life…Your first home.

Are you ready?

On Sunday, May 20 at 9:00 am at Bnai Yeshurun, you will hear from three specialists who will direct you with the tools to properly negotiate and navigate through your home purchase. You will hear from a Realtor (V&N Realty) , a Mortgage Banker (David Siegel) and a Real Estate attorney (Charles Kleiner) as you enjoy bagels and lox .

For reservations please call David Siegel at 201-725-9527<tel:201-725-9527> or dsiegel@primelending.com<

According to U.S. census data, there are approximately 160,000 households in New Jersey that have 3 or more family generations living together. The key to a successful melding of families according to author Sharon Niederhaus in “Together Again: A Creative Guide To Successful Multigenerational Living” is attaining
“proximity with privacy.”
An elderly parent does not necessarily need an entire apartment. A home with bedrooms on separate floors or a walk- out basement with a separate entrance can suffice.

Allowing elderly parents to age in place is becoming more and more popular. Critical things to look for when purchasing a “multi-generational home include few steps to enter the house, a private suite on the main level which can accommodate a “handicapped” bathroom with shower and separate thermostats.

Currently we have a few homes listed with V and N Group llc which can be easily altered to fit this “model.” Check out 554 South Forest Drive on a 100 x 120 property.

Just to show you care – can you take a moment to cast your vote for Vera & Nechama Realty.  Thanks!

Log onto
www.jstandard.com/survey

Deadline May 20th

According to CNNMoney this eternal question is simple in today’s market. Buy. There are several reasons why buying is more beneficial than renting. Home prices have moderated  and mortgage rates are extremely favorable with rentals concomitantly rising.             

 Most renters cannot afford to buy a home despite  the drop in home sale prices. As Jed Kolko, Trulia’s chief economist commented “Rising rents make it harder for people to save for a down payment, which is the biggest barrier to buying a home that aspiring homeowners face.” Continuing to rent may only serve to defer the possibility of purchasing a home.  The incentive to buy is furthered  according to Ken H. Johnson, a real estate professional in Florida since  “the ship has turned. Markets should slowly start to recover. Housing will return to its traditional role of a safety investment.”

According to Jason Berg, Branch Manager at Odyssey Funding,  a number of homes in the Teaneck & Bergenfield area are purchased with the intention of either expanding the house or building a new one.  In this case, a limited number of loan options are available, but one that many have heard of, but don’t know much about is a construction loan. Different from a traditional mortgage, a construction loan is money that finances the construction or building of your new home or addition. 

One of the major differences between a construction loan versus a standard home loan is that the construction loan requires that the lender be privy to the reasons why you want to build. The loan approval is subject to this information.

Another difference found with a construction loan is that not all of the money(or interest) is paid upfront. With a standard conventional mortgage, the money is provided by the lender all at once at which time you make payments. However, with a construction loan, the money would be provided in “draws” based on the stage of building. For instance, during the foundation pouring and framing phase, the required amount of money would be provided. Then during the heating and cooling system installation, another portion of the money would be released, and so on.

When securing a construction loan, you will find several variations. For example -  the construction only loan, which is a short-term loan would eventually be replaced or converted into a traditional mortgage loan after the building is completed. In this instance a construction only loan would be a good option as it provides you with the opportunity to find the right lender for your permanent loan with a low interest rate.

The interest rate over the relatively short construction period won’t have the same impact as the interest rate on the conversion into the permanent loan so keep in mind your long term loan options when applying for the construction loan.

Another option is the construction to permanent loan. In this case, the loan would be converted to a traditional mortgage loan upon completion but with the same lender. However, the other stipulation is that occupancy must be achieved first. In this scenario, many times you are stuck with the original lender and won’t have the opportunity to “shop” rates.

Interest rates for all types of construction loans are generally going to be higher than for a traditional mortgage as there is more risk associated for the lender.

Feel free to call or email me with any questions regarding any type of mortgage loan options including Conventional, FHA, Jumbo or Construction.

Jason Berg

Branch Manager / Mortgage Consultant

NMLS # 220661

Phone: 201-308-5580

Fax: (201) 308-5579

Cell Ph: (917)-612-0559

241 Hudson Street

Hackensack, NJ 07601

For updates on new listings and price changes follow us on Twitter and friend us on Facebook!

According to Smartmoney Magazine rent is to housing as earnings are to stocks thus a practical way to approach real estate is to compare the price with present and future rents. According to Trulia, last summer it was cheaper to buy a home in three-quarters of all major cities in the United States. As Brett Arends writes…”buying a home now is a compelling financial move. It’s a smart investment because it offsets a hidden liability. You will always need somewhere to live. If you don’t buy, you will need to find rent money every year, and rents have historically risen and will likely continue to rise at least in line with inflation.”

SUNDAY’S AT V & N MARCH 4^TH

11:00 to 12:00pm

Join Us for Hot Bagels and Coffee

Meet with our agents- questions answered, videos for the kids

Buyers & Potential Sellers Welcomed!

811 Queen Anne Rd, Teaneck

www.vera-nechama.com

201-692-3700

Warren Buffet said that if he had an “efficient plan” – he would buy millions of homes in today’s real estate market. Given the low interest rates coupled with what he perceives as good value – buyers are looking at a  a unique opportunity.

Duck Breast Serves 4 

Duck breasts​ 4- tenderloin removed

Salt and Pepper​To taste

1. Slash the duck breasts skin with a knife and make a cross hatch pattern.

2. Season with salt and pepper.

3. Heat a saute pan big enough to hold all 4 duck breasts or work in batches, on a medium low flame render the fat out until the skin is golden brown and crispy.

4. Flip the breast over and cook until medium rare, about 135 degrees.

5. Allow the duck to rest for about 3 minutes flipping it over half way through.

6. Reserve the rendered duck fat.

Orange Salad

Blood Oranges​ 4, supremed

Red Onion​1, small dice

Jalapeno​1 small dice, seeds removed

Pomegranate Seeds​½ cup

Cilantro​1 bunch, leaves only

Lime Juice​juice of 2 limes

Honey​ 2 Tbsp

Salt​to taste

1. Combine all the ingredients and allow to marinate for 30 minutes.

Avocado Puree

Avocado​ 4

Whole Egg​1

Lime Juice​Juice of 3 limes

Cilantro​about ¼ cup

Salt​to taste 

1. Puree all the ingredients together.

Johnny Cakes

Cornmeal​ 2 cups

Water​ 1 ½ cups

Whole Eggs ​2

Salt ​to taste

Sugar ​to taste 

1. Whisk all the ingredients together and allow to rest for 30 minutes.

2. Heat a saute pan to medium high heat.

3. Using the reserved duck fat and some additional vegetable oil if needed, drop 2 Tbsp batches of the johnny cakes into the fat and smooth out if needed.

4. Fry the cakes until golden brown. 

Fried Tenderloin 

Duck Tenderloin​ 4 pieces

Eggs​ 2, whole whisked

Flour ​1 cup

Panko Bread crumbs​ 1 cup 

1. Remove the center sinew in the duck tenders. Do this by using a small pairing knife to pull up the sinew and then scrape the meat off the sinew with the knife.

2. Bread the tenders in the flour, egg then panko.

3. Using the same fat as the duck breast and the johnny cake fry until golden brown.  

To Plate 

1. Using a square or round plate, using a sauce spoon, put a dollop of the avocado puree on the plate, then drag the back of the spoon through it.

2. Stack the johnny cakes on the plate to the left of the puree.

3. Pile the salad on the opposite side of the plate.

4. Place the duck breast on top of the johnny cakes and the tender on top of that.