Jun. 29, 2007 - 30 year mortgage rates dip

Special mortgage program for union members

After a month and a half of rising mortgage rates, for the second consecutive week rates on 30 year mortgages dipped 2 basis points, to 6.74 percent. A basis point is one-hundredth of a percentage point.  This slide in the  rate puts interest costs just about at the same place they were a year ago, when the average 30-year fixed mortgage rate was 6.71 percent. Bankrate.com reports from mid-May to mid-June the average rate on a 30-year fixed climbed from 6.32 percent to 6.84 percent in four weeks. This week's decrease is a long way from the middle of March's 30-year mortgage rate at 6.16 percent.

Realty Times warns, "As always, though, consumers need to consider points charged by lenders as well as other fees to determine the real cost of loans."   A point is 1 percent of the loan amount. And last week, lenders were charging 0.5 points.  The average 15-year fixed rate fell 5 basis points, to 6.4 percent.

The average jumbo 30-year fixed, for larger loans, fell 3 basis points, to 6.96 percent. Adjustable-rate mortgages went in different directions. The popular 5/1 ARM fell 11 basis points, to 6.47 percent, while the one-year ARM rose 5 basis points, to 6.23 percent.

Union members my be eligable for a special mortgage program that could save on fees and offers free strike, disability and unemployment benefits. For information regarding the program, contact me here.

Jun. 27, 2007 - Township bans pay-to-play

Revisions adopted and passed

After revisions to the ordinance introduced earlier this year, the township's council banned redevelopment pay-to-play. Contract pay-to-play refers to the practice by firms or individuals of making political contributions and then getting appointed to government positions or winning no-bid contracts. There had been a general pay-to-play law in effect since 2003. 

The new ordinance, passed June 12th, exempts existing land owners within a redevelopment zone in the township from the ordinance. Landowners can make political contributions but can not take tax abatements or other financial incentives included in the redevelopment ordinance.  For the complete story click here.

Source: Courier News

Jun. 26, 2007 - Free summer fun for all ages

Summer MovieCamp and more

AMC theaters is offering great kids' movies such as "Happy Feet" and "Ice Age" for free!  Shows start each Wednesday at 10:00 am from June 27 - August 15* (*Excluding July 4th). You can purchase a kid's snack pack including one drink, one popcorn and a kid's sized snack for only $3.00 during AMC's Summer MovieCamp®. Click here to print the complete movie lineup.  For more information contact: AMC Bridgewater Commons 7 - Guest Services, (908) 725-2005

Independence Day celebration 

Come join the fun at the Franklin Township Independence Day celebration; 6 to 9 p.m. on July 3rd; that includes food vendors, Kid Zone inflatable amusements, crafts, games, and the second annual Clothesline Art Exhibition. Fireworks follow at 9:15 p.m. (rain date July 6). Location: Franklin Township Municipal Complex, 475 Demott Lane.  For more information: (732) 873-1991

Seniors can beat the summer heat 

Jun. 19, 2007 - Summer Chimney Safety

A perfect time to check and clean

Now that summer is a only few days away, it is the perfect time to check and clean your chimney.  This is essential to your family's and home's safety.   Having a clean chimney is also on the checklist of competent home inspectors.

The Chimney Safety Institute recommends that if you light fires in your fireplace or woodstove three or more times a week during the heating season, proper maintenance would include cleaning and inspecting the chimney once a year. If you burn green wood, twice-a-year cleaning and inspection may be necessary.

* Educate yourself about your chimney. Organizations like CSIA and the National Fire Protection Association provide a wealth of information on their Web sites about chimney maintenance and safety.

* Network. Talk to friends and family members who also have fireplaces. Who do they use? Would they recommend the person to someone else?

* Web sites like Service Magic help homeowners connect with qualified contractors in their area. Since the contractors must pay the Web site to be included in their database, the service is more likely to attract qualified contractors. You'll be able to request a quote for your job, hear from potential service providers within hours (in most cases), and review the comments and opinions of other consumers who have hired the contractor.  

Source: ARA

Jun. 16, 2007 - A Place for dads on the Net

Father's Day 2007

Here's to all the dads celebrating Father's Day 2007

Happy Father's Day!

Jun. 16, 2007 - Clotheslines and Exhibitions

Artwork Inspired by Franklin Township

Franklin Township's second annual Clothesline Exhibition will be held July 3 before the fireworks show, with a rain date of July 6. Interested artists must submit an entry form by June 26. There is no fee for exhibiting and no sale of work is permitted the night of the show, but a number of cash prizes will be awarded.

The Artists can enter a maximum of six matted pieces, no framed works. The exhibition directors will supply the clothespins and lines for hanging the works. The event will have the theme, "Pictures at an Exhibition -- Works Inspired by Franklin Township New Jersey." Setup starts at 5 p.m., and all work must be removed by 8 p.m.

No entry fee—just join in the fun and celebration

Jun. 12, 2007 - Refinancing is still strong

Countrywide's mortgage refinancing up 26%

Despite climbing rates for home loans, on Tuesday Countrywide Financial Corp., the largest U.S. mortgage lender, said it made 15 percent more home loans in May as the pace of refinancings increased.  It was noted that the foreclosure rate doubled. Countrywide has long said it expects to add market share as the U.S. housing slowdown and rising defaults cause weaker rivals to fold or reduce risk. It has boosted staffing 8 percent this year.  Refinancings increased 26 percent to $25.78 billion. Countrywide said it ended May with $69.74 billion of loans in its pipeline, the most since October 2005.  For the complete story go to: Yahoo! News

Source: Reuters

Jun. 10, 2007 - A home seller or landlord requirement

NJ's Fire Extinguisher Law

Jun. 7, 2007 - Lebanese festival planned

Church holds annual Festival June 22-24 

St. Sharbel Maronite Catholic Church will have its annual Lebanese Festival from June 22-24 on church grounds, 526 Easton Ave.

Traditional Lebanese foods such as falafel, choarma (gyro), hummus, shish kabob, spinach pies, tabouhli, stuffed grape leaves and more will be available at the festival. Numerous Middle Eastern desserts such as baklawa, mamool, atayif, nammoora and ghraybeh also will be offered.

Eddie Ossama and his orchestra will perform traditional and popular music from Lebanon. Games of chance, raffles and prizes also are planned.

Festival hours are from 6 to 10 p.m. June 22, from noon to 11 p.m. June 23, and from noon to 10 p.m. June 24.

For more information about the festival, call Msgr. Maroun Asmar, pastor of the church, at (732) 828-2055.

Source: Courier News

Jun. 7, 2007 - May Residential Sales

Franklin Township Residential Sales

The month of May ended with 65 Franklin Township private residences sold with an average of 77 days on the market and receiving 97% of the listing price. 

The month also ended with 614 active listings which remained on the market. This is an increase of 59 new properties from the previous month.

If you have a question about a specific property, or stats for surrounding areas, please do not hesitate to contact me.  

AREA MARKET ANALYSIS REPORT - BY TOWN, BEDROOMS (May 2007)

SEARCH CRITERIA County Code: 27 Town Code: 2708 Period 1: 5/2007 Period 2: 5/2007

BY TOWN: Franklin Twp. (2708)

#Beds Active Listings New Listings Under Contract Sold Listings SP/LP   # Avg. LP Med. LP # Avg. LP Med. LP # Avg. LP Med. LP Avg. DOM # Avg. SP Med. SP Avg. DOM   0 0 00 00 0 00 00 0 00 00 0 0 00 00 0 0% 1 5 208,720 152,900 2 151,400 149,900 1 145,900 145,900 45 0 00 00 0 0% 2 197 298,771 286,000 60 282,395 279,900 25 293,984 283,000 79 28 252,046 242,000 56 98% 3 184 376,055 349,900 44 379,829 339,900 29 363,631 350,000 65 19 336,258 319,000 96 96% 4 183 519,287 449,000 54 483,736 439,000 17 455,453 424,500 101 17 471,456 519,000 81 98% 5+ 45 709,278 649,500 16 613,931 624,900 2 628,450 459,000 83 1 575,000 575,000 217 95% TOWN 614 417,008 359,500 176 397,180 349,000 74 365,411 349,900 78 65 339,015 310,000 77 97%

ALL TOWNS 614 417,008   176 397,180   74 365,411   78 65 339,015   77 97%

© Copyright, Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.** MICHAEL ADAMS

Jun. 7, 2007 - Mortgage rates climb

Rates reach a 10 Month High

Mortgage rates increased for the sixth consecutive week, with the average 30-year fixed mortgage rate hitting a 10-month high of 6.61%.

The average 15-year fixed rate mortgage, popular for refinancing, increased by a similar amount, to 6.33%. With larger loans, the average jumbo 30-year fixed rate climbed to 6.86%. Even adjustable rate mortgages were in on the act, with the average one-year ARM rising to 6.17% and the 5/1 ARM jumping to 6.52%.

For more information go to Bankrate.com

Jun. 4, 2007 - News you can use

June Highlights

1. Summer Travel Resources

Before you plan your summer getaway, visit the Travel, Transportation, and Recreation page.

Whether you’re taking a road trip, seeing the country by train, or flying overseas, you’ll find valuable resources, including:

• Where to find the cheapest gas prices
• Airport status
• Currency exchange rates
• Maps and road conditions
• NJ Tourism

For other state-specific tourism sites, check out the State Travel and Tourism page.

 2. Home Safety Month – Is Your Home Safe?

Did you know that approximately 20,000 Americans die each year from unintended accidents in their homes and more than 20 million seek medical treatment for home injuries? The home is the second most common location for accidental fatal injuries in the U.S. (autos rank first).

During Home Safety Month, take a few minutes to run a quick home safety checklist. A few tips for staying safe in your home include:

• Using night lights near stairs and in hallways
• Installing grab bars and non-slip mats in the bathroom
• Setting your water heater at 120 degrees or less
• Installing smoke alarms near bedrooms and testing them monthly
• Locking up poisonous items

  3. Father’s Day – June 17

Americans celebrate fathers on Sunday, June 17! Visit the Father’s Day page to find:

• Facts about Father’s Day
• Fun activities for girls and dads
• A look at father and son presidents
• Prescription drug help for dads
• Information about outdoor recreation
• And more!

To find some gift ideas for Father’s Day, check out shopping pages.

 4. Homeownership Month – Nine-Step Homebuying Guide

National Homeownership Month—celebrated in June—is a time to encourage more Americans to consider the benefits of owning their own home.

Visit the link to Buying a Home for guidance on taking this important step. At a glance, check out HUD’s nine homebuying steps:

   1. Figure out how much you can afford
   2. Know your rights
   3. Shop for a loan
   4. Learn about homebuying programs
   5. Shop for a home
   6. Make an offer
   7. Get a home inspection
   8. Shop for homeowners insurance
   9. Sign papers

5. Flag Day – 230th Anniversary of the Stars and Stripes

Flag Day celebrates the American flag, which dates to June 14, 1777. The first national recognition of Flag Day occurred on June 14, 1877, but Congress didn’t make the observance permanent until 1949. June 14 is designated as the national observance of Flag Day.

Visit Flag Facts to learn about the flag’s history; get information on the proper way to present, fold, and care for the flag; and find out how to obtain a flag flown over the U.S. Capitol.

Jun. 4, 2007 - Get Points for your Mortgage Payment

American Express and First USA offer cards

Source: Businesswire, Inman News

Jun. 1, 2007 - Five Weeks and Counting..

Mortgage Interest Rates Rise

For the fifth straight week, mortage interest rates have risen.  According to Bankrate.com benchmark rates reached 6.47 percent for a 30 year fixed-rate loan.

The 15-year, fixed-rate mortgage rose to 6.15 percent. The 5/1 adjustable-rate mortgage also rose to 6.32 percent.

For full details go to: Bankrate.com