Michael Favor III's Blog | 3RD Generation Home Loans

This July 4th Leave the Fireworks to the Professionals

Posted by Michael Favor III on Jun 21, 2017

As Ocean County's communities prepare for the traditional Fourth of July celebrations, fireworks are once...Read More

Existing-Home Sales Rise 1.1 Percent in May; Median Sales Price Ascends to New High

Posted by Michael Favor III on Jun 21, 2017

Existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low, according to the National Association of Realtors®. All major regions except for the Midwest saw an increase in sales last month....Read More

OLDER ADULTS CAN "BEAT THE HEAT" WITH A LITTLE HELP FROM THE OCEAN COUNTY OFFICE OF SENIOR SERVICES

Posted by Michael Favor III on Jun 16, 2017

WHEN THE MERCURY rises and the dog days of summer return, Ocean County's senior citizens can find relief with a phone call to the county Office of Senior Services....Read More

Mercer County to conduct American flag decommissioning ceremony

Posted by Michael Favor III on Jun 11, 2017

Mercer County Executive Brian M. Hughes and the Mercer County Office of Veteran Services invite citizens, civic groups and local Scout organizations to participate in an official flag decommissioning ceremony on Wednesday, June 14, 2017, at 6 p.m. in Veterans Park (Klockner Road entrance) in Hamilton Township. In case of rain, the ceremony will be Thursday, June 15, at 6 p.m....Read More

Freeholders Board Recognized for Role in Founding Brookdale Community College

Posted by Michael Favor III on Jun 11, 2017

On Friday, June 9, the Monmouth County Board of Chosen Freeholders was presented with a Founders Award at the Brookdale Community College Foundation’s Scholarship Ball at Eagle Oaks Golf Course, in Farmingdale....Read More

Ocean County Reimburses $9.3 Million to Towns in Sandy Cleanup Shared Services Agreement

Posted by Michael Favor III on Jun 11, 2017

The Ocean County Board of Chosen Freeholders will be distributing more than $9.3 million to the 17 municipalities that participated in the county's debris removal program following Superstorm Sandy in October 2012....Read More

Foreign Buyers and Immigration Expected to Drive Future Demand for U.S. Housing

Posted by Michael Favor III on May 25, 2017

U.S. real estate markets are increasingly becoming international, and changing demographics brought forth by immigration and growing interest from foreigners are positioned to bolster home sales activity and prices....Read More

Realtors® Have a Positive Outlook for Commercial Markets in 2017

Posted by Michael Favor III on May 22, 2017

While challenges face commercial real estate markets, Realtors® specializing in the sector should have confidence that growth will continue. That’s according to speakers at a commercial economic issues and trends forum at the REALTORS® Legislative Meetings & Trade Expo....Read More

HUD Secretary Carson Highlights Possible Improvements to Homeownership Programs

Posted by Michael Favor III on May 17, 2017

Potential homebuyers have a lot to contend with from tight credit and low inventory to rising prices. But for buyers who are able to muscle past these hurdles, Realtors® know that tough-to-make deals can still fall apart when needlessly high regulatory burdens get in the way....Read More

Metro Home-Price Growth Heats Up 6.9 Percent in First Quarter

Posted by Michael Favor III on May 17, 2017

The strongest quarterly sales pace in exactly a decade put significant downward pressure on inventory levels and caused price growth to further accelerate during the first three months of 2017, according to the latest quarterly report by the National Association of Realtors®. Metro home prices have now accelerated for three consecutive quarters....Read More

5 Tips for Buyers in a Tight Housing Market

Posted by Michael Favor III on May 17, 2017

When inventory is low, home prices tend to go up. Attempting to purchase a house in this type of market can make the already complex process of buying a home even more overwhelming. To help buyers successfully get through the buying process in a tight inventory market with as little stress and difficulty as possible, the National Association of Realtors® has these five suggestions and an infographic: https://www.nar.realtor/infographics/5-tips-for-buying-in-a-tight-market....Read More

Survey Reports 12 Percent Jump in REALTOR® Business Activity

Posted by Michael Favor III on May 11, 2017

After a slip in business in 2015, the National Association of Realtors® Member Profile found that the income and sales volume of Realtor® members increased in 2016. The median gross income of Realtors® increased 8 percent in 2016 as the typical member had the highest number of transactions in recent years....Read More

June 5 Deadline to File for SBA Working Capital Loans

Posted by Michael Favor III on May 9, 2017

The Monmouth County Board of Chosen Freeholders is reminding local small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations in New Jersey that June 5 is the filing deadline for federal Small Business Administration (SBA) economic injury disaster loans as a result of freeze, excessive heat and drought between April 1 and Sept. 19, 2016....Read More

Homeownership in the Crosshairs of Latest Tax Plan, Say Realtors®

Posted by Michael Favor III on May 3, 2017

Major reforms are needed to lower tax rates and simplify the tax code, but that shouldn’t come at the expense of current and prospective homeowners. That’s according to National Association of Realtors® President William E. Brown, a second-generation Realtor® from Alamo, California and founder of Investment Properties....Read More

Existing-Home Sales Jumped 4.4% in March

Posted by Michael Favor III on Apr 23, 2017

Existing-home sales took off in March to their highest pace in over 10 years, and severe supply shortages resulted in the typical home coming off the market significantly faster than in February and a year ago, according to the National Association of Realtors®. Only the West saw a decline in sales activity in March....Read More