Walter Gorman

Senior Loan Officer NMLS#: 138370

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Phone: 973-200-3405
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For some sellers, selling their home as fast as possible is important. Perhaps you need to get to your new home and location for a job opportunity or you are just eager for that fresh start, there are many ways to make your property the best it can be that can result in a faster sale.  1. Make your home warm and welcoming  Making your home a place where potential buyers can feel welcomed is key to having a quick and successful sale. By decluttering rooms in your home and only keeping out essential furniture like end tables and sofas, you can assist prospective buyers in visualizing themselves and their personal belongings in your space. Keeping each room of the house neutral with warm color accents and decorations that aren’t too over the top will help the buyer decide if they can truly make the space their own. You can also try rearranging your furniture to allow a somewhat smaller space to have the illusion of being a bigger part of the home. By doing this, Not only will your house spend less time on the market but it will also increase its value and the buyer might be willing to spend more on the property.  2. Adopt the minimalist lifestyle  If you choose to stage your home like the advice mentioned it Tip 1, it is important to maintain its organization. If you have a household of young children, store away any toys or mess before an open house and make sure items like clothes and beds are neatly arranged. According to most real estate professionals, the most appealing room to prospective buyers when looking at a home is the kitchen since most of the cooking and gathering of the family is done in this spot. Make sure your ...

You’re looking to sell your home in the new year and finally settle into retirement or move into a neighborhood closer to school or work...we’ve all been there. Selling a home can be a challenging process through working with the right realtors to preparing mentally for the process. Here are a few common mistakes to steer clear of when you place that “For Sale” sign on your front lawn.  Mistake #1: Listing your home for more than it’s worth  New Jersey is becoming a booming market for small and large businesses to grow their headquarters so a lot more people are considering the garden state for their next home, however it is a gradual process making real estate inventory on the low side. When inventory is low, sellers believe they should increase the price of their home to attract buyers who will become desperate for a home.Think again. When a potential buyer is interested in the seller’s property, the next step in the buying process is to get an appraisal of the home to determine a fair price. This is where if the price of the home is selling for more than what it’s worth, that price might need to be renegotiated. Seeking help from a real estate professional is a great way to ensure a seller is selling their home at a fair price.  Mistake #2: Getting too emotionally involved with the sale  Everyone knows what it feels like when you buy your first home. That feeling of hope and excitement is overwhelming and you are proud of your first major investment. Over time, these emotions don’t burn out completely. A seller who gets too emotionally involved within a sale might increase the ...

In previous blog posts, we’ve explained the real estate closing process in New Jersey and the various costs that home buyers have to pay. Today, we’ll talk about some of the things buyers can do to prepare for closing day. But first, a quick definition is in order. Definition: You can think of the “closing” as the final step in the home purchasing process. It’s when you will sign all of the finalized documents relating to your mortgage loan and the transfer of the property. It’s also when you’ll receive the keys to your new place. How to Prepare for Your Closing Day As a home buyer in New Jersey, there are some steps you can take to help ensure that your closing process goes smoothly. Much of the paperwork will be done by other people, such as a title or escrow professional. But home buyers can be proactive here as well. Here are some steps you can take. 1. Start saving for closing costs and other expenses. It’s never too early to start putting money aside for your closing costs, and the more you can save the better. Most home buyers in New Jersey have to pay closing costs of some kind when they purchase a house or condo. You’ll receive an estimate of these costs when you apply for a mortgage loan, as well as a finalized list shortly before the scheduled closing day. Getting a head start on the saving process can help ensure that you’ll have the funds needed to close. 2. Try to keep your financial situation stable. When you’re being reviewed for a mortgage loan, it’s generally a good idea to keep your financial situation “static.” That’s ...

With its beautiful neighborhoods and unique attractions, New Jersey has become a popular state among many homebuyers looking to settle down and raise a family. Buying a home for the first time is nothing to take lightly; therefore, it is important to know all the facts, particularly when it comes to the market. Check out these helpful tips for first-time homebuyers purchasing a home in the Garden State. Know what you can afford before you start looking Because a home is such a large investment, you should know what you can afford both in terms of the mortgage and the down payment. Come up with a budget before you even start house hunting; that way, you and your partner can realistically build a “wishlist” that fits into your price range. For some first time homebuyers, a 20% down payment might be the suggested amount; however, putting down as little as 3% is also acceptable. To ensure you have enough money to do this, here are a few savings suggestions: Set aside tax refunds and work bonuses: It might seem tempting to use that April tax return for some nice new clothes or a new gaming system, but saving that extra money for a future investment like a new home is a smarter decision. Your future self will thank you!                    Set up automatic savings to be deducted from your checking account : Many savings apps are now available online and on mobile devices to help you put money aside for future investments. Take advantage of what is out there and label your investments so that you know what your savings are going towards. ...

Are you in the market for a new home (or even your first)?  Of course, finding the perfect home isn’t as easy as we often hope. You may have to make some compromises; for instance, you may choose to accept less space in favor of a desirable location. Fortunately, the FHA’s (Federal Housing Administration) 203K rehab loans allow you to wrap the remodeling funds into the mortgage. This means that you can use this type of loan to purchase a home or to remodel a home that you already own. FHA 203K Mortgage Loans for New Jersey Home Buyers Most New Jersey home buyers who invest in fixer-upper properties use two separate loans to finance the home and to pay for renovations. But this can be expensive, challenging, and time-consuming. That is where the Federal Housing Administration 203k loans come in. Also known as FHA Construction loans or Rehab Loans, the FHA 203K loans are backed by the federal government. Essentially, they allow you to purchase a house and repair it in one transaction . How FHA 203K Loans Work The process of purchasing a house with an FHA 203K loan is not much different than buying one the “typical” way. However, it has some modifications: Apply and get approved The method of applying and getting final approval involves contacting contractors and receiving bids. Choose your projects Before your loan can be approved, you have to determine the repairs you want to do . Your lender will require that any potential health or safety hazards are promptly addressed. For instance, you have to address things like mold, lead-based paints, and broken windows. You can also decide the cosmetic items you ...

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