New Jersey Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Jan. 14, 2020

Buying a Bank Own Property

Buying a Bank Own Property Pro Tips

Mitigating risk when buying a Bank Own Property A/K/A REO, Foreclosed Listing whatever you call it just translates to "more risk".  So how can you as a seasoned real estate investor or first time real estate investor can mitigate your risk?

Here's a few tips that can definitely help you manage your risk and potential lost of money:

  • Have a well though-out written plan
  • Don't deviate from your plan
  • Partner with a REALTOR® to help you with local market reports
  • Due-Diligence, Can't have enough of it
  • Invest in a tittle abstract
  • Be ready to deal with contingencies 
  • Bid set go be ready to close in 30-days
  • know the local code enforcement and fire compliance requirements prior to transfer title
  • If you are financing part of the acquisition be ready with a loan approval and reputable lender

My motto is measure 2x cut once, like to learn more about buying foreclosure properties you can reach me at 973-955-2744 Ext 700. 

Jan. 2, 2020

Understanding NJ Home Buying Process by NJ REALTOR® Pablo Lopez

Understanding the Home Buying Process presented by NJ REALTOR® Pablo Lopez

The Home Buying Process - this information is shared by a NJ REALTOR® experienced in Passaic County, Bergen County, Hudson County and Essex County.  NJ REALTOR Pablo Lopez Alliance Home sales of NJThe process of buying a home varies by state and might vary in other counties in New Jersey please check with your real estate professional in your area.  The content is intended to give you an outline and provide guidance during your home purchase in Northern New Jersey.  Now that we’ve got that out of the way lets start by congratulating you for taking the first steps towards homeownership.  Whether you are a first-time homebuyer, move-up buyer, downsizing we are hoping that this information will be of value to your home buying process.


1. Financial Heath - You won’t go to the mall shopping with out knowing what your budget is, cash or a credit card right?  The very first step that we encourage you to seek is financing, meet with your banks loan officer or find a reputable mortgage lender there are many.  This is a good time to learn about the different mortgage programs FHA, Conventional, VA, Renovation Financing, Fixed Rate, Adjustable Rate, a very good ideas to know what type of loan your are qualified. Your loan officer will request from you Tax Returns, PayStubs, Savings Account Statements, Checking Account Statements and credit.  The information will help your loan officer paint a financial picture including budget, monthly payments make some projections for you to make an educated decision on your home purchase.  Once you know how much mortgage you qualify for you can decide how much house you like to purchase. 


2.  Decisions Decisions - Deciding on your needs and wants, do you want to live in a suburban area or you want to stay in or near the city amenities.  Are schools an important decision factor weighting on your decision.  Committing distance, public transportation, houses of worship, shopping, are you looking for a gated community, townhouse or condominium all of these decisions are going to be major factors in your home purchase.  Bedrooms, bathrooms, basement, garage, driveway family room, pool just to name a few. 


3. Lets go House Hunting - Now that we know how much and where it’s time to go out and see all the available listings that meet your home needs and wants criteria.  How many homes do you need to see before you make a decision “measure twice cut once” keeping this in mind you can narrow your search to the specific homes you really like.  There’s a few things that you can not change in real estate i.e. Neighborhood, if you drive-by the neighborhood of a prospective house listing and you don’t like what you see around SCRATCH IT OFF!.  the facade, you drove to an available listing and you don’t like the Curb appeal, architecture or anything else in front of the property SCRATCH IT OFF.   Many experts will agree that a home that is not property maintain on the exterior most likely the interior is not going to be well maintained.  Here’s an outline of the things that most likely your can’t change, Location, Facade, Architecture, Floor-plan.  Almost everything else can be repaired, or remodel to meet your taste. 


4. Game On! We found the Right House now What? - First we’ll generate a market report to determine that the house price is in accordance with the neighborhood.  Agree on an offer price, downpayment and  closing timelines.  Keep in mind your first offer might not be accepted you need to be open to negotiate or walkaway from the deal.  In our local Clifton NJ market 3-4-5 offers sometimes is what it takes to get the foot in the door.  Be ready to walkaway from a deal  if it you need to do  so, some times it is a mistake to fall in love with the very first home you see and expect the seller to accept the offer even if you are offering full price in a sellers market that some listing are selling above asking price a good reason to have a good valuation in front of you before making an offer.  For the sake of this article and keeping it as short as possible lets say that you have an accepted offer, what’s next?


5. Attorney Review Period - Once the parties buyer and seller have agreed on initial terms and condition meaning Price, Closing, and initial terms.  The signed offer will go to your real estate attorney for review.  Your real estate attorney will call you or request a meeting in person mind you some attorneys require a retainer.  During your initial meeting your attorney will review the language of the sales contract with you terms and conditions, change add or amend any part that needs to be clarified.  The sellers’ attorney will then review the terms and/or revised terms with the seller, if there’s something that the seller don’t agree too then we’ll go back and forth until mutually agreeable terms are reached or the offer is cancelled if the parties can not reach an agreement, there are many factors in this part so we will not go over every possible scenario here if you like to lear more lets connect. 


6. Ok Attorney Review is Over the Offer Survived till this point - Inspection time! very exiting time this is where you learn abut the health of the house you are buying. Your inspector will go over safety, structural, radon, asbestos, plumbing, electrical, roof, mechanicals, roof, windows, appliances and termite inspection.  It is a good time to ask questions to the home inspector and lear more about the house your are buying and how things work perhaps find out about maintenance of certain critical items. 


7. NO ISSUES With the Home Inspection and I am still in love with the house - in a perfect world there’s always a few issues that need some attentions some critical others no so much.  What every the issues some can be negotiated with the seller and request for remediation or a financial credit upon closing of escrow.  Keep in mind you are buying an old house some times 100-year old house some more mothered than others.  If you like to buy a new construction we can help you with that as well. 


8. Time to put the pedal to the metal - literally this is a stretch to the finished line, at this point your purchase has serviced attorney review, various inspections and you still in love with your new home. Make ready for the mortgage commitment, on step one you covered a lot of ground with your mortgage company and you received a Pre-Approval subject to final underwriting.  Not is time to contact your mortgage lender to go ahead to process your loan and obtain a commitment.  Once your lender issues a commitment there’s are a few steps waiting to happen. We’ll outline those next.

8.1 City Inspections and Certificates of Fire and Habitability - While we are working on all the other stuff to get to closing theres no closing until the proper certificates a.k.a CO/CCO and Fire Compliance are issued by the city Code Enforcement and Fire Prevention.  On traditional real estate transactions the seller is responsible to obtain the various certificates prior to closing.  Foreclosed "REO" Properties is a different story all together. 


9. Mortgage Commitment is in - once your received the bank/lender approval letter we’ll need to provide a copy to your title company and attorney.  Title company then will oder a title and name search, crate an abstract and make sure that title is cleared of envy encumbrances or clouds that can affect the transfer of title, just to name a few: Tax Liens, Mechanic Liens, Second mortgages and so on. 


10. Happy times - we’ve have a fantastic 45-days to accomplish all the above on average to get to this point it takes about 40-45 days yes that long, some times longer if there are mortgage or title contingencies.  Assuming that there are no title issues, and no mortgage issues we’ll have also while working on the above obtain a CTC "a what?" Clear to Close form your mortgage lender.  Once the CTC is issue by the bank, once the underwriter has reviewed the file and Quality Control at the bank is happy with the file then you can arrange with the parties, your attorney, seller attorney, title company, mortgage company to schedule your closing. 


11. Moving Date! to be continued.


If you want to lear more about the closing process or where to get stared with your real estate purchase give us a  call we’ll be delighted to help you navigate the complexities of home buying in our New Jersey neighborhoods.  We are NJ REALTORs® dedicated to help you achieve your home buying needs. 





Jan. 1, 2020

How Much is My House Worth 2020 Real Estate Values

Learn the value of your Clifton NJ home

Learn the value of your Clifton NJ home in a few clicks, just provide a few details easy to use property valuation tool completely complimentary no obligation.  Or you can request a customized competitive market analysis specifically for your Clifton NJ home by a NJ REALTOR knowledgeable of the local market.  Our customized report will take in to account home improvements you’ve done, amenities and location among other things.  

5-Things You Should Know Before Listing Your Clifton NJ Home

Be in the know - You've taken the first step by visiting our site perhaps you are just entertaining the Idea of selling or just for curiosity.  Unless you purchased your home a month ago, real estate market "market" being the operative word changed continually.  There are various factors that affect your local home values, you probably heard the expression location, location location being one of the major factors affecting your home value.  There are other factors that are just as important and play a big influence on what a potential buyer is willing to pay for your home.  Factors like condition, amenities, perception, internal or external obsolesces.  

First impressions - You have about 5-seconds to get the attention of a potential buyer, curb appeal, facade, landscaping, along with fantastic photography are key to get buyers in  the front door.  NAR® statistic state that over 90% of buyers make their decision to view or not mainly based on the photography they see online of your home. You've loved your home and you have made great memories with your family in it but the objective here is to try to obtain the price you desire. 

Staging your Home for sale - Your NJ REALTOR® should be able to guide you and make suggestions how to make your home marketable.  Less is more! first order of business should be depersonalizing your home, make potential buyers feel right at home, appreciate the space they have to work with for their own personal decorations. Many times investing a few dollars in storage, painting or hiring a stagers will go a long way and a big return at the time of closing. 

Before Listing Your Home - The times of placing a fore sale sign in your front yard and finding a willing and able buyer are long gone.  As REALTORs® we've had to remake our marketing strategies over the past 10-years and continue to adjust with the times and technology.  Our strategic property listing plan is ever evolving, our goal is to get your home in front of as many potential buyers as possible.  We employ the use of MLSs, Property Listing Syndication to dozens of real estate website, broker cooperation, social media, facebook ads, instagram, youtube, twitter, blogs in order to give your home listing the property marketing exposure.

Being open to negotiation - Mort purchase agreements are contingent upon satisfactory home-inspection and appraisal this is an anxious time for both parties.  The buyer want's to know that their investment is sound and the lender wants to make sure that the value is according to the local real estate market.  The home inspector works for the buyer and want's to make sure that all safety, health and condition issues are up to standards.  Here's a few items that the home inspection is going to cover: Age of the roof / roof shingles, operation of all windows and window locks, electrical, HVAC/Heating system, mechanicals, RADON, Wood Destroying insects / Termites, in some cases underground storage tank search, in suburban and rural areas well water testing and systems, septic and so on.   This is a brief example of what to expect, you the seller can be ready for a home inspection with a pre-inspection of your own. You can hire a home inspector to conduct a pre-sale home inspection and point out to you things that might come up in a regular home inspection money well invested.  It's not all that bad in reality any items repairs or condition that might arise from the home inspection can be negotiated with the buyer a lot of times buyer will be willing to proceed with the purchase if a mutually agreeable compromise on repairs is reached.  

Open Houses - Making the home ready for an open house is an exiting time, open houses are a good way to present the home to a future homebuyer and allow the buyer to feel right at home without the homeowner being around.   Showcasing your home in an open house gives your the opportunity to show off your homes best assets and help a potential buyer visualize themselves in their future home.

There's so much to cover, want to learn more about how much your home is worth contact us today our office number is 973-955-2744 or simply fill the form below give us a few details and we'll contact you as soon as possible.  

Jan. 1, 2020

Bank Own Properties REO Buy and Flip Buy and Hold Northern New Jersey


Explore Bank Own Properties a.k.a. REO/Foreclosed in New Jersey Passaic County, Bergen County, Essex County and Hudson County.  It’s a reality that REO properties are becoming harder to find, REO inventory it’s at all time low and the demand has been sturdily increasing for the past few years.  Once you find what you believe to be the money maker you find yourself out bided by other investors that are willing to reach deep in to their pockets.  The times to yield 30/40% on a flip seem to be long gone.  In order to secure a good ROI in your buy and flip you need to device a very well thought out plan with very tight budgets and still deliver a final product that homebuyers are going to be willing to pay fair market value.


Are you looking to buy and hold, buy and flip whatever your REO investment is you need a REALTOR® on your team to help you identify these assets quickly and help you with due-diligence in oder to reach quick decisions.   A REALTOR® can help with a few initial steps; Competitive Market Analysis “CMA”, Price Opinion on After Repair Value “ARV”, having a snapshot of the local market is key to a successful flip.  Other information that you can obtain from your REALTOR® is tax records, Open Public Record “OPRA”, determine if the subject asset is in a flood area or not and help with the purchase process keeping timelines and  inspections on schedule, and help you connect with hard-money lenders if needed. 


Take action today partner with an experience REO REALTOR® call us today, take a look at our FEATURED REO LISTINGS see if there’s any of interest.  We list a good number of REO properties though the year if you can’t find something now check back with us for updates or contact our office for a consultation. 

Dec. 31, 2019

Explore Northern New Jersey Real Estate

Explore Northern New Jersey Real Estate, are you looking for an easy commute to NYC or perhaps you’ve been relocated to the neighborhood.  Either way there are many opportunities to buy your next home in northern Jersey. Are you looking to live in the suburbs, with tree-lined street or are schools an important factor to your real estate decision? Here’s some popular neighborhoods in Northern New Jersey that are favored by many for their proximity to NYC.  From Bergen County to Passaic County and beyond we can help you find the right home that will suite your needs.  Single family homes, 3-bedrooms 2-bathroom, with garage, finished basement, townhome, condominium or luxury home, large estate, a multi-family dwelling to help you payoff your mortgage there’s a large inventory of properties for sale priced for every budget.  Lets start with a few popular areas, if you can’t find what you are looking for lets connect we can customize a property search specific to your needs and wants on of our NJ REALTORS® will be happy to assist you with your real estate needs. . 


Here’s a good start click on any of the links below to explore some of the most popular areas in Northern New Jersey. 

Clifton City

Totowa Borough

Bloomfield Township

Wayne Township

Woodland Park

Garfield NJ

Cant find what you are looking for no worries visit our advance search 

Posted in Home Buyer Tips
Dec. 31, 2019

Clifton NJ Real Estate Values

Real Estae Values in Clifton NJ Continue to hold steady:

NJ REALTOR Pablo Lopez ALLIANCE Home Sales NJRea estate is local, I'm sure you've heard the expression many times but what is local and what is the impact on home values.  Ever wonder? If you like to keep a tab on real estate values in your local Clifton NJ real estate market we have a treat for you.  I've been conducting business in the Northern New Jersey area for over 20-years, listed, sold, purchased real estate in four counties.  Prepared home valuations price options for countless clients both retail and institutional in Clifton NJ and surrounding cities, towns, boroughs.  An observation over the years even going to back to the financial crisis of 2007-2008 Clifton NJ held it's gourd pretty strong.  

In the past few years the Clifton NJ real estate market has enjoyed a tremendous recovery and stability as the demand and interest for Clifton NJ housing continues to grow.  Clifton neighborhoods attract buyers for different reasons, the area benefits from it's proximity to New York City so it seems ideal for NYC commuters.   Myself for one I can attest for the benefit of a easy commute to New Your, in 1985 I myself moved to Clifton looking to for an easy commute to my job in the Bronx and provide a better environment for my growing children.  For over 20-years I commuted 6-days a week to Bruckner BLVD to my place of work.  Some days it was a 20-minute commute others I did not get so lucky but I did not mind as the means met the end. 

If you like to discover or considering Clifton NJ contact me I will be very happy to show you around, find you home that fits your needs and help you navigate the complexities of home buying.   

Click on the link to see a real estate snapshot of Clifton NJ, if you like a more in-depth competitive market report call me to request a complimentary CMA report. 

Here's an overview of Popular Clifton NJ Neighborhoods: 

Lakeview Section 07011

Albion Place Section 07013

Allwood Section 07012

Ridgefield Section 07013

Delawanna Section 07014

Information provided by your Local NJ REALTOR® Pablo Lopez, Broker/Owner. 

Pablo Lopez, BROKER/Owner 

CRS®️, ABR®️, SFR®️, ePro®️, RES.NET REO Certified 

Certified DAD “Distressed Asset Disposition”. 


ALLIANCE Home Sales of New Jersey, LLC.

3-5 Village Square East, Suite #3

Clifton, NJ 07011

Office: (973) 955-2744

Direct: (973) 277-0417



Dec. 18, 2019

Add Value While Saving Home Improvements

Smart Renovation Projects Increase Value While Saving 

Visit for more articles like this.
Content Shared by:
Pablo Lopez, BROKER/Owner
 CRS®️, ABR®️, SFR®️, ePro®️, RES.NET REO
Certified Certified DAD “Distressed Asset Disposition”.
ALLIANCE Home Sales of New Jersey, LLC.
3-5 Village Square East, Suite #3 Clifton, NJ 07011
Office: (973) 955-2744 Ext 700
Dec. 18, 2019

Improving Your Home Value - Seller Tips

Improving Home Values

Visit for more articles like this.
Content shared by:
Pablo Lopez, REALTOR-Associate CRS®️, ABR®️, SFR®️, ePro®️, RES.NET REO Certified Certified DAD “Distressed Asset Disposition”.
ALLIANCE Home Sales of New Jersey, LLC.
3-5 Village Square East, Suite #3 Clifton, NJ 07011
Office: (973) 955-2744 Direct: (973) 277-0417
Posted in Home Seller Tips
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates