Tag Archives: real estate law

How to Find a Great Real Estate Lawyer

It’s a smart decision to get a real estate lawyer when thinking of buying a home. A good attorney will help ensure your rights are protected and can expedite the process by processing legal documents for you. That being said, you will benefit from the assistance of some attorneys more than others. Here are some tips to help you find the right real estate lawyer. Tips on Finding a Real Estate Lawyer Give yourself time – Finding the right lawyer can be a time-consuming process. With this in mind, it’s best to start the search for your new home as early on as possible. You shouldn’t make your decision on a lawyer because time was a major contributing factor. Ask your friends and family – Most people do this anyways, but an easy way to find an attorney who will work well for you is to ask the people closest…
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Are Millennials Really Paying More for Rent?

According to Census data collected from 1960 through 2014, the belief that millennials are paying more for rent rings true. Apparently, inflation-adjusted rents have been steadily increasing. Experts say they are now as much as 64 percent higher than they were 50 years ago. At the same time, household incomes have also been going up, but at a much slower rate. In fact, research suggests that people are only making about 18 percent more than Gen Xers and Baby Boomers were. Cost-burdened renters, which is defined as a person who is paying more than 30 percent of their earnings on rent alone, grew exponentially. Over the past 50 years, the percentage of cost-burdened renters went from 24 percent to 50 percent. Currently, more than 11 million people pay 50 percent or more of their monthly income towards rent. Another report says that median rent amounts have also increased by 63…
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Would You Know If a NJ Contractor Cheated You?

The New Jersey Division of Consumer Affairs recently announced that it was taking legal action against 51 NJ contractors who have cheated residents out of hundreds of thousands of dollars. According to NJ officials, these 51 contractors cheated homebuyers out of more than $650,000. About half of the contractors who were fined were not even registered with the Division as legally required. To be registered with the Division, a contractor is required to provide the location of the jobsites, and provide proof that they have at least $500,000 in liability insurance. NJ Contractor Violations The NJ contractors were cited for various offenses, including: Failing to finish jobs they were paid for in advance Performing substandard work Failing to refund deposits Fraud Home Improvement Contractors’ Registration Act violations The Division is seeking more than $800,000 in consumer restitutions. The amounts the Division is wanting each contractor to repay range from $250…
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Understanding Property Valuation So You Know the Real Cost of Real Estate

When shopping for property, whether it’s a new home or a new business location, understanding property valuation is an essential tool. Knowing the real cost of real estate is the one of the advantages a buy can have when preparing to make a bid. There are a few factors that come into play when talking about the value of a certain piece of property. Real estate value is greatly affected by the times, the social and economic trends, but with a little due diligence you will find the right number. There are four basic factors of value to take into account. They are as follows: Demand – Probably the most important of the four, demand is referring to how badly you want that piece of real estate. If it’s in high demand, and a lot of other people want it, then price will go up, but if nobody seems to…
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NJ Homeowners Sue After Discovering House With Interesting History

A New Jersey couple has filed a lawsuit claiming real estate agents steered them to a home with a interesting history. The couple moved into their new house in Sparta, New Jersey last summer and, soon after, a contractor installing satellite TV in the home found several issues with the electrical wiring. This led to the contractor finding web cams installed in the basement. At this point, the plaintiffs allegedly discovered that prior tenants used the property as a sex club with hidden cameras and closed circuit television throughout the home. Three months after moving in, the couple packed up and moved out. The complaint, filed June 26 in Sussex County Court, claims fraud and breach of contract. The real estate agent – and co-defendant – who sold the couple the house investigated and found “two illuminated cages in the basement, a large amount of cocaine on the dining room…
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