James Miner's (jamesminer) Blog

I closed a purchase today utilitzing the Nehemiah down payment grant program.   This particular transaction also included a seller concession for closing costs.  My clients were able to get into a $300k home for a grand total out-of-pocket of about $6,500.  This was a nice young couple with two i...

As a NJ real estate lawyer I handle purchases and sales of homes from $70,000 co-ops to multi-million dollar estates. Whatever the price, it is always a major financial transaction for the buyer and seller. Over the years I've closed thousands of transactions and I can tell you the secret to a sm...

WHAT IT IS.  The 2008 Housing Act gives first time homebuyers a tax credit of up to $7,500 if they close on a home between April 9, 2008 and June 30, 2009. The actual amount of the incentive is 10% of the purchase price up to a maximum of $7500. Note that this is a tax CREDIT not a tax deduction....

I'm very happy to let everyone know that my Short Hills office is up and running. This office is for the convenience of our realtors and clients in the Summit and Short Hills areas. Along with Westfield, I consider these to be among the most desirable towns in NJ, especially for families with you...

My legal practice is limited to residential real estate transactions and is concentrated in some of the "premium" NJ towns such as Westfield, Summit, Short Hills and the surrounding areas. People often ask me for my opinion of the current real estate market in Union and Essex Counties and I'd lik...

My legal practice is limited to residential real estate transactions and is concentrated in some of the "premium" NJ towns such as Westfield, Summit, Short Hills and the surrounding areas. People often ask me for my opinion of the current real estate market in Northern NJ and I'd like to share my...

Maybe it's the power of positive thinking or maybe the stars have aligned in the right way, but this is turning out to be a really good week. By Wednesday I met my weekly goal for new contracts coming in.  I had an opportunity to make a presentation to a great group of realtors that I hadn't met ...

    A short blog post tonight on one of my pet peeves; the mishandling of short sale negotiations. I've handled many NJ short sales; sometimes representing the seller and sometimes the buyer.  I see clients, agents and attorneys alike getting caught up in whether or not the bank that holds the l...

    You may have heard of the FDIC takeover of IndyMac Bank on Friday.  This is bad news for IndyMac depositors (at least those with deposits in excess of the insured limit) and for IndyMac shareholders.  This could be really bad news for any of us trying to close deals with IndyMac financing. W...

After Opinion 710 turned the NJ real estate community upside-down, the following "clarification" was issued. Most attorneys interpret this to mean that seller concessions are allowed as long as the purchase price increase, and related credit to the buyer, are fully disclosed to the lender and on ...