“Dare to Be

When a new day begins, dare to smile gratefully.

When there is darkness, dare to be first to shine a light.

When there is injustice, dare to be the first to condemn it.

When something seems difficult, dare to do it anyway.

When life seems to beat you down, dare to fight back.

When there seems to be no hope, dare to find some.

When you’re feeling tired, dare to keep going.

When times are tough, dare to be tougher.

When love hurts you, dare to love again.

When someone is hurting, dare to help them heal.

When another is lost, dare to help them find the way.

When a friend falls, dare to be first to extend a hand.

When you feel great, dare to help someone else feel great too.

When the day has ended, dare to feel as you’ve done your best.

Dare to be the best you can –

At all times, Dare to be!”

For any additional information about your real estate transaction, buying & selling, insurance or helpful hints, contact LEGACY REALTY GROUP, "The new star in town", 1963 Oak Tree Rd. Edison, N.J.

732.744.0400.  CALL US TODAY.

LOAN LANGUAGE:

If you are about to purchase a home, especially for the first time, and have to obtain a mortgage to do so, like the majority of home buyers.....here's some information you should find helpful.

HOW MUCH HOME CAN I AFFORD?:

Depending on the price of the home and the amount of your down payment, generally, lenders want your monthly payment, including insurance and taxes, not to exceed 25-30% of your gross monthly income.

ADJUSTABLE RATE MORTGAGE (ARM):

Interest rates are typically 2% lower than a fixed rate mortgage during the first year and adjusts at specific periods. Most ARMs increase by 2% per adjustment period or a maximum of 6% for the life of the loan.

ANNUAL PERCENTAGE RATE (APR):

Actual rate you pay for a mortgage in long term, including interest, points and certain closing costs.

APPRAISAL:

An official valuation of the market value of a home, required to obtain a mortgage, since the loan amount is predicated on the value. It also assures the buyer that they are not overpaying for the home.

CLOSING:

Generally attended by buyers and sellers and their respective attorneys (not always together), where ownership is transferred.

CLOSING COSTS:

Up front fees, typically include, escrows for real estate taxes, Insurances, & mortgage interest, as well as points (if applicable) along with attorneys fees, transfer fees, property survey, etc.  Buyers closing costs normally range from 2% to 3% of the purchase price. 

INSURANCE:

Hazard Insurance and Title Insurance are both required when obtaining a mortgage. In some case, mortgage Insurance may also be required.

INTEREST:

The cost paid to the lending institution for the money borrowed. Sometimes described as "the price you pay for the privilege of owning a home and living in it without actually paying for it".

LOCK-IN:

Obtaining a set interest rate, that cannot go up while you are awaiting your closing. Usually available for a period of up to 90 days before closing.

PITI:

Abbreviations for Principal, Interest, Taxes, and Insurance, which make up the monthly payment.

POINTS:

Costs a lender may charge. One point equals 1% of the amount borrowed.

For any additional information about your real estate transaction, buying & selling, insurance or helpful hints, contact LEGACY REALTY GROUP, "The new star in town",  1963 Oak Tree Rd. Edison, N.J.

732.744.0400.  CALL US TODAY.

IMPORTANT REAL ESTATE CONSUMER INFORMATION FOR NEW JERSEY SELLERS-BUYERS-LANDLORDS-TENANTS: 

In New Jersey, real estate licensees are required to disclose how they intend to work with buyers and sellers in a real estate transaction.(In rental transactions, the terms "buyers" and "sellers" should be read as "tenants" and "landlords")

SELLERS AGENT:

A sellers agent works only for the seller and has legal obligations, called fiduciary duties, to the seller which include: Reasonable care, undivided loyalty, confidentiality, and full disclosure. All material information supplied to the agent, by either the buyer or a cooperating agent, will be conveyed to the seller.

BUYERS AGENT:

A buyers agent represents the buyer, and all material information supplied to the agent by the seller or cooperating agent, will be conveyed to the buyer. A buyers agent also has fiduciary duties to the buyer which also include, reasonable care, undivided loyalty, confidentiality and full disclosure.

DISCLOSED DUAL AGENT:

A disclosed dual agent represents both parties in the transaction, however, may not, without express permission, disclose that a seller will accept less than the asking price, or that the buyer will pay a price greater than the offered price. Before acting as a disclosed dual agent, brokerage firms must make written disclosure to both parties. A brokerage firm acting as a disclosed dual agent, cannot put one party's interests ahead of those of the other party and cannot advise or counsel either party on how to gain an advantage at the expense of the other party, from confidential information obtained from either party.

TRANSACTION BROKER:

As a transaction broker, a licensee does not represent either the buyer or the seller. All information acquired from one party may be shared with the other party. A transaction broker works with a buyer or seller, or both, in a sales transaction, without representing anyone. A transaction broker does not promote the interests of one party over those of the other party to the transaction. A transaction broker primarily serves as a manager of the transaction, communicating information between the parties, to assist them in arriving at a mutually acceptable agreement and in closing the transaction, but cannot advise or counsel either party on how to gain an advantage at the expense of the other party.

It is critical, that as a participant in a real estate transaction, you are advised and understand the terms of how you are to be represented, and which is in your best interest. If you are planning to become a party in a real estate transaction soon, and are not sure which form of representation best suits your goals, feel free to contact us for any information you may require. It will be our pleasure.

For all your real estate, insurance needs and helpful hints, contact: LEGACY REALTY GROUP, "The New Star In Town",   1963 Oak Tree Rd. Edison, N.J. Call, 732-744-0400

KWANZAA OBSERVANCE:

Holiday in brief: 

Kwanzaa is a week long celebration held in the United States and also celebrated in the Western African Disapora in other nations of the Americas. The celebration honors African heritage in African-American culture. Is observed from December 26 to January 1, culminating in a feast and gift-giving. Kawnzaa has seven core principles (Nguzo Saba) It was created by Maulana Karenga, and was first celebrated in 1966-67.

During the early years of Kwanzaa it was meant to be an "oppositional alternative" to Christmas. However, as Kwanzaa gained mainstream followers, it's position was altered so that practicing Christians would not be alienated. Many African Americans who celebrate Kwanzaa, do so in addition to observing Christmas.

PRINCIPLES AND SYMBOLS:

> UMOJA (Unity): To strive for and maintain unity in the family, community, nation and race.

> KUJICHAGULIA (Self-Determination): To define ourselves, name ourselves, create for ourselves, and speak for ourselves.

> UJIMA (Collective work and responsibility): To build and maintain our community together and make our brothers' and sisters' problems our problems, and to solve them together

.

> UJAMAA (Cooperative economics): To build and maintain our own stores, shops and other businesses and to profit from them together.

> NIA (Purpose): To make our collective vocation, the building and developing of our community in order to restore our people to their traditional greatness.

> KUUMBA (Creativity): To do always as much as we can, in the way we can, in order to leave our community more beautiful and beneficial than when we inherited.

> IMANI (Faith): To believe with all our hearts in our people, our parents, our teachers, our leaders and the righteousness and victory of our struggle.

SYMBOLS:

 A decorative mat (Mkeka) on which other symbols are placed, such as: corn (Muhindi) and other crops, a candle holder kinara with seven candles (Mishumaa Saba), a communal cup for libation (Kikombe cha Umoja), gifts (Zawadi), a poster of the seven principles, and a black, red, and green flag. The symbols were designed to convey the seven principles.

OBSERVANCE:

Families celebrating Kwanzaa decorate their households with objects of art: colorful African cloth such as kente, especially the wearing of kaftans by women; and fresh fruits that represent African idealism. Children are included in Kwanzaa ceremonies to give respect and gratitude to ancestors. Libations are shared, generally with a common chalice, (Kikombe cha Umoja), passed around to all celebrants. The holiday greeting is "Joyous Kwanzaa". A ceremony may also include drumming and musical selections.

Cultural exhibitions include the Spirit of Kwanzaa, an annual celebration, held at the JFK Center for the Performing Arts, featuring interpretive dance, African dance, song and poetry.

The holiday has also spread to Canada and is celebrated by Black Canadians in a similar fashion as in the United States.

Have a safe and meaningful Kwanzaa and remember the greeting for each day, "Habari Gani (what's the news?)

(Content excerpted from Wikipedia)

For all your Real Estate & Insurance and helpful hints, contact LEGACY REALTY GROUP, "The new star in Town", 1963 Oak Tree Rd. Edison, NJ  Tel: 732-744-0400