Jun. 26, 2009 - Family Fun Jun 27 - Jul 03, 2009

Events near Somerset  

Live Theater: The Odyssey 06/27/2009

Franklin Township Public Library

485 DeMott Lane, Somerset, NJ 08873

Recommended for ages:8 yrs and above. Registration required

Call: (732) 873-8700

Discover Wild Foods with The Wildman  06/30/2009

Franklin Township Library

485 DeMott Lane, Somerset, NJ 08873

Call: (732 873-8700)

Independence Day Celebration   07/02/2009

A free family event with local arttist, food and

fireworks display from 6pm-8pm

Municipal Complex

475 DeMott Lane, Somerset, NJ 08873

Picnic on the Green  07/03/2009

Pack a picnic lunch, bring lawn chairs or a blanket.  Music, strolling entertainers and children’s games Celebrate the 100^th anniversary of the Somerset County Courthouse.

East Main Street, Somerville, NJ  08876

908 231-7110

Walk on the Wild Side - Duke Farms   Fri, Sat, Sun - (Year-around)

A self-guided nature trail is open from 10 a.m. to 3 p.m. Reservations are not required. 

80 Route 206 South, Hillsborough, NJ 08844

www.dukefarms.org  

(908) 722-3700

Jun. 26, 2009 - This week's open houses - June 27-28

Franklin Township - Saturday and Sunday, June 27-28, 2009

Regardless of the listing agent, office or MLS service; if you are not already working with an agent, give me a call or send an e-mail and I will be happy to arrange a personal tour of any listed property or open house that you might find on the Internet, print media or yard sign. Contact Me

There is no need to feel overwhelmed. Click here for Buyer Advice.  And most importantly, as a buyer read why you might not want to venture out on your own... http://tinyurl.com/acv5zx           

At the time of posting the following properties are scheduled for an Open House, this coming Saturday and/or Sunday.  Click here to view pictures of this week's Open Houses. The following are featured homes this weekend in Franklin Township and surrounding areas from Century 21 Moretti Realty http://tinyurl.com/c64npd 

Listing information provided by Garden State MLS  **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**   The links will expire 60 days from 06/26/2009.

Jun. 22, 2009 - Pitfalls in home buying

Seller keeps downpayment

New York TV consumer reporter, Tappy Phillips, aired the story of a young couple's attempt to purchase a co-op apartment unit. The couple gave a substantial down payment and got a bank commitment. Trouble arose when it was discovered that the land the building sits on is rented and the bank rescinded their commitment. The seller refused to return the couple's down payment and it remains in an escrow account, possibly indefinitely. The money is the couple's life-savings.

In another NYC case that ultimately went to court, the seller of a co-op unit was victorious in keeping the down payment of a buyer who died prior to closing the sale.  Although both situations apply to New York co-ops, they both highlight the importance of using a trusted real estate lawyer for your home purchase, whether it be a co-op, condo, townhouse, single or multiple family regardless of the fact that the State of New Jersey does not make it a requirement. Using a real estate agent provides the buyer and seller with a 3-day window for Attorney Review*  to address any number of issues of concern to you and/or your interest.

* I have no affliation with this firm at this time.  The link is provided for informational purposes only.

Jun. 21, 2009 - Happy Father's Day

When I turned forty he was a genius

"When I was a boy of fourteen, my father was so ignorant I could hardly stand to have the old man around. But when I got to be twenty-one, I was astonished at how much he had learned in seven years." - Mark Twain

Jun. 19, 2009 - This Week's Open Houses - June 20-21

Franklin Township - Saturday and Sunday, June 20-21, 2009

Regardless of the listing agent, office or MLS service; if you are not already working with an agent, give me a call or send an e-mail and I will be happy to arrange a personal tour of any listed property or open house that you might find on the Internet, print media or yard sign. Contact Me

There is no need to feel overwhelmed. Click here for Buyer Advice.  And most importantly, as a buyer read why you might not want to venture out on your own... http://tinyurl.com/acv5zx           

At the time of posting the following properties are scheduled for an Open House, this coming Saturday and/or Sunday.  Click here to view pictures of this week's Open Houses. A late addition is 122 Hillcrest  Ave.  The following are featured homes this weekend in Franklin Township and surrounding areas from Century 21 Moretti Realty http://tinyurl.com/c64npd 

Listing information provided by Garden State MLS  **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**   The links will expire 60 days from 06/19/2009.

Jun. 17, 2009 - Hello, it's you

Using mirrors to effectively help sell your home

One of the first things a seller wants the prospective buyer to do is project himself/herself living in the house; which is why depersonalizing your home is highly recommended.  The selective use of mirrors can help buyers do this. The first place that you should have a mirror is directly on the wall in front of someone when they open and walk through the front door.  Karen Schaefer, founder of Simple Appeal, adds a small key hook next to the mirror along with house keys and a stenciled "Welcome Home" under the hanging mirror.

What you want to accomplish with mirrors is to add value to the space.  Try placing the mirror on a wall, at eye level, to relect light, sky, a unique object, plants or greenery.  What you don't want to do is place mirrors at the end of a long hallway.  However, placing accent mirrors along the walls of a long hallway will help to expand the space. You might also want to avoid creating the 70's style of the walled mirror or the, dreaded, mirrored ceiling in the bedroom.  For more staging tips go to: SimpleAppeal.com

Jun. 12, 2009 - This week's open houses - June 13-14

Franklin Township - Saturday and Sunday, June 13-14, 2009

Regardless of the listing agent, office or MLS service; if you are not already working with an agent, give me a call or send an e-mail and I will be happy to arrange a personal tour of any listed property or open house that you might find on the Internet, print media or yard sign. Contact Me

There is no need to feel overwhelmed. Click here for Buyer Advice.  And most importantly, as a buyer read why you might not want to venture out on your own... http://tinyurl.com/acv5zx           

At the time of posting the following properties are scheduled for an Open House, this coming Saturday and/or Sunday.  Click here to view pictures of this week's Open Houses.   The following are featured homes this weekend in Franklin Township and surrounding areas from Century 21 Moretti Realty http://tinyurl.com/c64npd 

Listing information provided by Garden State MLS  **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**   The links will expire 60 days from 06/12/2009.

Jun. 11, 2009 - Good news on New Jersey foreclosures

A steep drop seen in May

The Star-Ledger reported yesterday that foreclosure action on homes in New Jersey dropped more than 40 percent in May versus the same period the year earlier.  "New Jersey continues to have proportionally fewer homes affected than the rest of the country. Hunterdon and Somerset counties proportionally had the least number of homes affected, while Union, Sussex, Essex and Atlantic counties saw the greatest proportion of homes with notices." 

Time will tell if this is a trend that will help to reduce housing inventory and stabilize pricing.  Read more.

Jun. 6, 2009 - Franklin Township Monthly Market Report

May 2009 Franklin Township Monthly Market Report

click to view

According to the Garden State MLS, the month of May, 2009 ended with 30 Franklin Township single family residences sold.  Sale prices ranged between $130,000 and $617,500 .

The month ended with 401 active listings on the market ranging in price from $120,000 to $1,265,000. There are 100 residential properties under contract.

That's what is happening in the marketplace now, June 6, 2009

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Jun. 5, 2009 - This Week's Open Houses - June 6-7

Franklin Township - Saturday and Sunday, June 6-7, 2009

Regardless of the listing agent, office or MLS service; if you are not already working with an agent, give me a call or send an e-mail and I will be happy to arrange a personal tour of any listed property or open house that you might find on the Internet, print media or yard sign. Contact Me

There is no need to feel overwhelmed. Click here for Buyer Advice.  And most importantly, as a buyer read why you might not want to venture out on your own... http://tinyurl.com/acv5zx           

At the time of posting the following properties are scheduled for an Open House, this coming Saturday and/or Sunday.  Click here to view pictures of this week's Open Houses.   (Apologies for bad link to the Open Houses. Here is a workable URL: http://emailrpt.gsmls.com/public/show_public_report_rpt.do?report=gallery&Id=44429430_40553)

The following are featured homes this weekend in Franklin Township and surrounding areas from Century 21 Moretti Realty http://tinyurl.com/c64npd 

Listing information provided by Garden State MLS  **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**   The links will expire 60 days from 06/06/2009.

Jun. 5, 2009 - Carriage Homes at Quailbrook - May '09 Sales Report

What’s happening in the marketplace, now – June 5, 2009

According to the Garden State MLS, currently there are two (2) homes actively listed for sale in this Franklin Township Townhouse development, at the time of posting.  The two available are 2-story townhouses with 3 bedrooms-2.5 baths. View these active listings.

There are no new listings since my last report to you on May 4, 2009.  Both actively listed prices range between $298,000 and $299,000. 

There has been one Carriage Homes at Quailbrook sale since the last report; 246 Glastonbury Ln, 3-bdrm/2.5 baths - $300,000. *DOM=19

Two properties are currently under contract for sale and one additional is in attorney review.

That's what is happening in the marketplace now, June 5, 2009.

If you have specific questions about a Carriage Home proprerty or any local property, email me at: mjadams@century21.com or call (908) 583-0409. 

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Jun. 3, 2009 - Discount on Kitchen & Bath Supplies

Local Warehouse Offers Big Savings

Upgraded kitchens and baths top the list for what home buyers want. Earlier today and during my normal course of running erands around town, I came across signs to a local warehouse sale for kitchen and bath supplies including vanities, cabinets, sinks, faucets, toilets, tubs, showers and more.  Items are advertised to be "Up to 70% off MSPR discontinued/obsolete, scratched or dented floor models or overstocked."  Many major brands are included.  This is a 5-day sale running through Sunday, June 7, 2009.

Homeowners, home sellers, contractors and landlords who wish to spruce up kitchens and or baths may find just the items s/he needs.  Be sure to bring measurements, as all sales are final.

For more information, contact: The Brenner Company, 55 Jiffy Road*, Somerset, NJ 08873, Tel: 732 873-1500.  *Near Amwell Road and Clyde Road. 

Jun. 3, 2009 - Breaking Tax Credit News

Tax Credit Can Be Used on Closing Costs, However...

I first told you about the ability to utilize the first-time buyer tax credit at the closing table in my posting on May 13th.  Since then, there has been confusion to what HUD would actually allow. 

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans.

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.  The loans can't be used to cover the minimum 3.5 percent.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.

New Jersey has developed its own tax credit bridge loan program, so buyers in NJ can monetize the tax credit upfront to cover all or part of their downpayment. This program are separate from what HUD announced.

The first-time homebuyer tax credit was enacted last year--and improved upon earlier this year to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven't owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Source: NAR, HUD

Jun. 1, 2009 - Mortgage rates spike, now what?

Last week 30 yr rates rose to nearly 5.50%

The average weekly rate for the 30-year fixed rate mortgages that dominates the market rose to 5.45 percent.   Mortgage rates jumped as much as three-quarters of a point Wednesday following a surge in interest rates on benchmark Treasury securities. Check here for today's rates.

Some are saying that the party is over for near historically low rates. Others believe rates will fall again to the 5 percent range. So, for home buyers who didn't lock in lower rates, what do you do now?  Qualifying first time home buyers might consider using the 10% tax credit (up to $8,000) to buy down the rate. Bankrate.com offers some advice for home buyers and homewoners looking to refinance.

Keeping things in perspective; since 1985, the 30-year fixed mortgage rate has averaged 7.84 percent. That's distorted by years of double-digit rates in the 1980s and the early 1990s, but even if you look at more recent times, today's rates still look good. In 2007, the median rate on the 30-year fixed was 6.26 percent. According to Bankrate.com, the average 30-year fixed mortgage rate was 6.20 percent in 2008.