Century 21 Moretti Realty and Century 21 Our Town Realty join forces Earlier today the Century 21 offices of Moretti Realty and Our Town Realty joined forces for the purpose of expansion.  The new entity will be known as Century 21 Moretti Realty with office locations at 225 Maple Ave, South Plainfield and 852 Easton Ave, Somerset, New Jersey. With combined sales of $135 million  and 75 sales associates, the company will be among the top Century 21 companies in the State of New Jersey.  Century 21 Moretti will be servicing Middlesex, Somerset, Hunterdon, Union, Mercer and Monmouth counties.  Toni Moretti, co-owner, said "The cultures of both companies compliment one another while our combined strenghts offer our customers more marketing resources."   I couldn't agree more with Toni More... 03/25/2009

This tweet says it all I came across this older "tweet" from an Ohio home inspector who was attempting to sell his home on his own without without success.  Need I say more?  You can follow me at: http://www.twitter.com/somerset08873 03/20/2009

Is it time to refinance? Literally, time will tell.  Possibly as early as tomorrow mortgage rates may reflect the Federal Reserve's stunning plan to buy up to $300 billion of long-term government bonds and $750 billion in additional mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac. The national average rate on 30-year, fixed mortgages was 5.15% on Wednesday, according to financial publisher HSH Associates, up slightly from a day earlier. Rates could drop up to .50%. Here are two ways refinance may benefit you: As homeowner #1 - A long time home owner with a mortgage balance of $87,800 might save more than $26,800 in interest charges over the life of the loan by refinancing from 5.75% to 4.75% and reducing the loan from 30 years to 20 years.  In this scenario, the mont... 03/18/2009

I just attended a briefing session conducted by ERA Home Mortgage on the changes to FHA Mortgages and I have to say that I am impressed.  FHA has streamlined its process to the point where it can now effectively compete with conventional mortgages.  BRING ON THOSE FIRST TIME HOME BUYERS!! Gloria Laughton Allston, SRES, Burgdorff ERA Realtors, Princton, NJ         03/12/2009

I just added a page on my website for First Time Home Buyers and I list 5 reasons why the time is right for the First Time Homebuyer to buy now. As everyone knows, these are truly challenging times in the real estate industry and the fact that we are not alone doesn't make me feel any better. But it is awesome that, in spite of the state of the economy, First Time Home Buyers are offered an outstanding opportunity to pursue their goal of home ownership with the possibility of receiving $8000 as a "rebate" in the form of a tax credit.  I find this amazing and shame on those folks who qualify but do not take advantage of if before it expires at the end of the year. What is the definition of a First Time Home Buyer?  A First Time Home Buyer is a buyer who has not owned a principal residenc... 03/07/2009

What's happening in the marketplace, now - March 7, 2009 According to theGarden State MLS, currently there are five (5) homes actively listed for sale in this Franklin Township Townhouse development, at the time of posting.  Two are 1-story Ranch style townhomes with 2 bedrooms-2 baths.  Three are a 2-story townhouse with 3 bedrooms-2.5 baths. View these active listings. There is one new listings since the last report to you on February 6th. All actively listed prices range between $249,000 and $322,500.  There has been one Carriage Homes at Quailbrook sale since the last report; an updated Ranch, 327 Shilling, for $260,000. One 2-story 2-bedroom/2.5 bath townhousench home is currently under contract. That's what is happening in the marketplace now, March 7, 2009. If you have specific q... 03/07/2009

February 2009 Franklin Township Monthly Market Report click to view According to the Garden State MLS, the month of February, 2009 ended with 20 Franklin Township single family residences sold.  Sale prices ranged between $80,000 and $755,000. The month ended with 346 active listings on the market. There are 59 residential properties under contract. That's what is happening in the marketplace now, March 7, 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.** 03/07/2009

Events near Somerset 08873  Financial Independence & Security for Every Stage of a Woman's Life - 3/7 at 10.30am Public Library  485 DeMott Lane, Somerset, NJ 08873 Registration required, visit the reference desk or call 732-873-8700 X#111. Music with Ann Wild for kids - 3/7 at 2.30pm Public Library  485 DeMott Lane, Somerset, NJ 08873 This program is for Franklin Township residents only.  Children must be accompanied by parent or grandparent. For more information call 732-873-8700 Theater Workshop - Teenprov - 3/8 at 2.00pm Public Library  485 DeMott Lane, Somerset, NJ 08873 A fast paced, one-hour workshop presented bythe George Street Playhouse, New Brunswick. To register, contact Amanda Decker, Young Adult Librarian, email: adecker@franklintwp.org   or 732-873-8700 x #101 Rutgers His... 03/05/2009

Details released yesterday Yesterday the Obama administration released more details of the American Recovery and Reinvestment Act of 2009 that features a maximum $8,000 tax credit for first-time buyers (only) who purchase a home on or after Jan. 1, 2009 and before Dec. 1, 2009.  A first-time buyer is defined under the tax credit as an individual who has not owned a home in the last three years. Additionally, qualifying details were given for homeowners seeking to modify their mortgage terms or refinance to avoid foreclosure.  The temporary credit is only available for home purchases made from January 1, 2009 to before December 1, 2009 and is equal to 10 percent of the cost of the home, up to a maximum credit of $8,000. (For example, a home purchased for $80,000 or more would qualify for... 03/05/2009

Today marks the initial market activity report in my real estate blog.  I intend to report on what I see of the real estate market conditions in the neighboring communities of Franklin and South Brunswick townships in the central New Jersey area.  Franklin Township consists of the following six town sections:  Somerset, Franklin Park in Somerset County, Princeton, Kingston, East Millstone and Zarepahath.  South Brunswick in Middlesex County consists of the following four town sections:  Kendall Park, Monmouth Junction, Princeton and Dayton. I invite anyone with an interest in, and with information about the local and surrounding area real estate market to share your thoughts and information here in this blog. Concerning the recent sales activity in Franklin Township, here is some data f... 02/22/2009

02/07/2009

Somerset, NJ market analysis for October 2008 Compared to September 2008         October:                                                              September: Active Listings = 507                                                554                                            Average LP = $ 380,315                                $ 406,988 New Listings    = 71                                                 107             Average LP = $ 345,108                                $ 391,593 Under Contract= 50                                                  47             Average LP = $ 327,059                                $ 343,984 Sold Listings    = 43                                                   54             Average SP = $ 339,517                                $ 325,019         ... 11/08/2008

While parts of the east coast was hit with some early snow fall this past Tuesday, I don't think Storm Fields saw it coming, many attended the EverythingJersey: business 2nd Annual Statewide Conference & Expo at the Garden State Exhibit Center this past Tuesday. It was a first for me and I was pretty excited to attend. I met a lot of great people and learned of new businesses in the area that I'd otherwise would have never known exist. Most importantly I gave, as well as received, a lot of business cards and hopefully made some future connections. I even met a guy who inherited a piece of property that he wants to get rid of. If that pans out, then that will be $39 well spent. I also had a chance to hear keynote speakers Bart Oates (former NY Giant) & Steve Adubato (TV personality) give... 10/30/2008

Somerset, NJ market analysis for August 2008 Compared to July 2008         August:                                                                   July: Active Listings = 587                                                614                                            Average LP = $ 408,221                                $ 403,517 New Listings    = 94                                                  131             Average LP = $ 373,823                                $ 370,457 Under Contract= 64                                                  48             Average LP = $ 345,367                                $ 354,452 Sold Listings    = 44                                                   75             Average SP = $ 343,560                                $ 331,854             Av... 09/09/2008

Buyers search for low price and move-in condition Reported by MarketWatch today, first time home buyers still consider affordability as the top priority.  However, 81% also regard the move in condition to be highly important.  In short, they want it all. It is believed this group's expectations stem from growing up in the lifestyle of their parents; with only 7% considering the option of purchasing a fixer-upper.  The expectations may be too high for buying power of a first time buyer. In not considering a home needing a little tender lovin' care (TLC), buyers could miss the chance to move into an area otherwise that would be out of reach.  Buyers could gain greater room for price negotiation.  And they might be able to finance the cost of the home and renovation costs over the life of ... 08/21/2008

An old reality in a buyers' market stands true Building upon Zillow's report on home sellers in denial about current home values, I am finding some Franklin Township sellers are equally unrealistic of what it takes to aggressively market their home in today's tough environment. On a recent listing presentation, I provided the customary Competitive Market Analysis (CMA) and my personalized and complete Marketing plan to sell a 3 bedroom ranch home.  The homeowners seemed to be motivated, as they were unsuccessful in their attempt to sell on their own, without representation. Among the things that I explained is the best way to have their home stand out from the crowd is to first price it right from the start.  The CMA provided the suggested price range based upon recent sales and direct ... 08/11/2008

CNN/Money ranks town #5 in the country Franklin Township's location, availablity of nearby high tech jobs, open spaces, affordable home prices, historical significance and local schools accounts for the #5 spot of 100 Best Places to Live 2008. It's high ranking comes to no surprise to me.  You can read why I love living right here in Franklin Township in my reply to "Charmqueen's" question posted on Trulia Voices. Read more about Franklin Township here Yeaaaaa Franklin! 07/17/2008

  Homes in Franklin Township / Somerset are Selling!   10 Margaret Drive was listed by Patricia "Patty" Mortara of RE/MAX Results Realty, Flemington New Jersey. It went on the market in late September 2007, went under contract in late March 2008 and closed title in early July 2008.   Approximate time on market = 6 months. Listing Price at the time it went Under Contract was $542,000 with a sales price of $538,000 - the listing to sales price ratio was 99%.   In this market, it takes knowledge, talent, passion and patience to get the job done. Using an extensive marketing package and the proper pricing strategy we get our clients properties SOLD!  If you want to learn more about the real estate services of the Hunterdon Real Estate Group - call Patricia "Patty" Mortara at 908-237-0055 x ... 07/16/2008

What's happening in the marketplace, now - July 8 The Carriage Homes townhome development offers larger rooms, fireplace, single car garage and patio.  According to the Garden State MLS, currently there are five (5) homes actively listed for sale in this Franklin Township delevopment, at the time of posting.   There is one (1) new listings; a two story, 3 bedroom-2.5 bath townhome ($304,800).  Listing prices range between $264,900 and $318,000.  One (1) Carriage Home 2 bedroom 2 bath ranch, 334 Hazlitt, sold for $268,00 since the last report.  Two (2) ranch style homes and two (2) 2-story townhomes remain under contract.  That's what is happening in the marketplace now, July 8. If you have specific questions about a Carriage Home proprerty or any local property, email me at: mjadams@cen... 07/11/2008

Franklin Township Residential Sales From: Somerset 08873 The month ended with 64 Franklin Township single family residences sold between June 1 - 30, 2008. Sale prices ranged between $135,000 and 730,000. The month ended with 604 active listings on the market, including 118 new listings. 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.** 07/05/2008