Gloucester, NJ Real Estate News

By Dave Sulvetta, Realtor
(Dave Sulvetta, eXp Connection, Gloucester County Realtor)
Gloucester Twp New Jersey Homes For Sale and Real Estate Market Reports 2011- 2012 Comparisson For Gloucester Twp. NJ and many other areas, 2012 proved to be a much better market for real estate. In fact on a personal note, 2012 proved to be a great year in real estate. The following data comes from TReND MLS and although deemed reliable, it may not be 100% accurate. So let’s get on with the comparison. For 2012 in Gloucester Twp, March seemed to be when the most homes were listed which was 113, with February running a close second at 105 homes listed. In 2011, March and May were tied for the most homes listed at 120. A total of 1056 homes where listed in 2012 and 2011 we saw 1052 homes listed in our community. In 2012 the listed average for Gloucester Twp. NJ was $166,156 while for 201...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  Be prepared for the worse !!!!  Not sure if many of you know, but there is a possible government shutdown looming. This would affect FHA loans and possibly other mortgages. There are still talks on Capital Hill between the Democrats and the Republicans, if not solved, could shut down many parts of the government come Friday April 7th. The government funding bill expires on Friday at midnight. Be aware this could affect the ability to get transcripts for IRS loans as well as more importantly, FHA case numbers. Not only could this delay the lender in obtaining a FHA case number, but FHA is increasing the annual mortgage insurance which goes into effect on April 18th, 2011.  ~ FHA monthly mortgage insurance changes April 2011 ~     The ending result is that this could affect thousands o...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
For those that are interesting in buying a home, did you know that there are programs available from New Jersey State to help you attain your home ownership goals?  The New Jersey Housing and Mortgage Finance Agency provides a variety of programs to help prospective homebuyers purchase a home.  I will summarize some of the those programs.  First-Time Homebuyer Interest Rate - 4.50% with 0 points - 30 years! New Jersey's HMFA provides for a below-market, fixed interest rate to first-time homebuyers and urban area buyers. The downpayments of as little as 3.5% are required and must come from the borrower's own assets. These loans are 30-year fixed rate. There are certain closing costs that can be gifted by family members, non-profit organizations or government agencies. Debt-to-income rati...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
It is exciting to find a home that you want to purchase. You may walk through the home and admire the floor plan, the architecture, or the style of the home and you may begin to picture yourself living in the space. You may decide that this is the house that you want to purchase. If so, then you will need to make a formal offer to purchase to the current owners of the property.   In your excitement, it is important to remember to protect yourself in the home buying experience. While you want to present a strong and reasonable offer, you also want to provide some contingencies in your formal offer to purchase document that will allow you to back out of the sale without penalty under specific circumstances. This is where a professional REALTOR working for you can be invaluable to you.  Al...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
I'm sure as a homeowner you've asked yourself that question many times. You've even done some research into it. You've looked at the real estate transactions in the newspaper, talked with your neighbors and friends, and even tried to figure out if there is some sort of correlation between your home's value and the tax bill you get (there isn't). Maybe you're trying to determine if this is the right time to sell your home. Is it worth enough to cover all of the costs in selling it? Will there be enough left over to put a substantial downpayment on your next home? There are definitely costs associated with selling your home...and a professional REALTOR's fees are NOT the lion's share. But before you can make an informed decision you want to make sure that you get the most accurate data po...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
Too many agents out their seem to think that all they hasve to do is put your home in the Multiple Listing Service and WHAM...it'll sell. And for that they expect to collect a commission. Selling a home is a lot more then just putting into the MLS and then going off to do something else. It's a lot of work to market someone's home properly. You've always got to be on the lookout for that prospective buyer. That someone who may not be looking for your home at that exact moment, but needs to have your home brought to their attention. Too many agents out there rely on the buyer to search out for your home. That's not what I do. I rely on my marketing skills and knowledge of the market. If you are interested in getting your home sold instead of just getting it listed, call a real profession...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
Nearly a full third of households are still renting.  If you're one of them, you could be paying a hefty price. Before talking about purchasing a house, it's important to note two things.  First-and this is extremely important-the housing market is actually localized.  So the outlook in your hometown may be different than another city across the state or on the other side of the country.  Second, home prices are tied to employment.  For example, if someone feels like their job is in jeopardy, it might be enough to stop them from making a move.  So, if your local job market is feeling a pinch, the home prices in your area may be down as well. But with all those factors under consideration, it still makes sense to buy instead of rent.  In fact, renting may be costing you a bundle. Take a ...
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By Chris Spada, Realtor - I Buy House. Pretty houses to ones in NJ and Pa Real
(need of complete rehab.)
Camden County End Unit Townhouse, Backs to Golf Course Relocation Sale.  End unit townhouse in very good condition.  This is a model condition home that backs to a golf course.  How many properties do you know that have such a view.  Pay very low property taxes and enjoy a $500,000.00 view.  To view more details on this property veiw virtual brouchure.  I have several properties like this ranging from $165,000 to $650,000.  Call / email for a complete list.  Some are vacant, bank owned, relocation sale, such as this one.  We are very aggressive negotiators and marketers. Gloucester Township home for sale.
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
I'm sure that there are many home owners out there that are asking that question.  And there are many possible answers to this question.  The home owner can start to answer this question for themselves by doing their own analysis of the way their agent is marketing their home. 1.  Does your home's MLS listing have any photos included?  At least there should be a photo of the front of your home.  If your agent didn't even bother to take a photo of the front of your home, how much are they really going to bother marketing your home. 2.  Have you heard from your agent or been able to reach them by phone or e-mail in the last 2 weeks?  If they don't have time to speak to your for a few minutes every couple of weeks, then how dedicated are they to marketing your home?  Their answer to you, o...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
According to a report that was released this past Monday by HUD (U.S. Department of Housing and Urban Development), the sales of newly built single-family homes rose in June by 11%; this translates to an annualized rate of 384,000 homes.  Peter Morici, an economics professor at the University of Maryland, said "That is really good news, with all the foreclosure activity sending down home prices, for new homes to jump like that is a good indicator that the economy is bottoming out."A housing industry analyst for IHS Global Insight, Pat Newport, also commented about the report. "The tax credit is boosting demand, but what will happen when it goes away in December?" he asked.  Excess inventory still exists in some key markets, such as: California Florida Las Vegas Arizona Even with busines...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
The I-Team Homes has been marketing quite extensively in Gloucester Township NJ including the areas of Blackwood, Erial, and Laurel Springs. We provide housing market analysis for our clients. The following is the most current data we have for Gloucester Township: For the month of May 2009 - New Listings Added in May - 113 (18.8% of the Total Listings Currently on the Market of 602) Average asking price - $222,804 (98.6% of Total Average Listing Prices of $225,900) Properties that are Pending Sales (Under Contract, Not Settled) - 47 Average Price: $220,260 Properties that Settled in May - 22 Average sold price - $176,120 (89% of average asking price) Average Days On Market: 111 Days We can provide you with a complete and accurate market analysis for your home with an analysis of the mar...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
The I-Team Homes has been marketing quite extensively in Gloucester Township NJ including the areas of Blackwood, Erial, and Laurel Springs. We provide housing market analysis for our clients. The following is the most current data we have for Gloucester Township: For the month of April 2009 - New Listings Added in April - 91 (15.6% of the Total Listings Currently on the Market of 582) Average asking price - $206,079 (92.7% of Total Average Listing Prices of $222,400) Properties that are Pending Sales (Under Contract, Not Settled) - 46 Average Price: $195,560 Properties that Settled in April - 34 Average sold price - $173,360 (91% of average asking price) Average Days On Market: 88 Days We can provide you with a complete and accurate market analysis for your home with an analysis of the...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
A mortgage is a kind of an agreement made to pay the money, which was loaned, to a person by keeping the house as collateral. Mortgage is a promise made to pay the debts by putting it in writing basically. Mortgages have terms and interest rates which are either adjustable or fixed.Mortgage terms: Mortgages are designed in such a way that they can be paid in installments for a certain period. The time frame which allows the person to pay back his mortgage is called the term. The term may be 10 or 15 or even 30 years. The length of the term determines the amount of money to be paid, which is actually spread in installments.Mortgage interest rate: The interest rate depends on the percentage to be paid on the mortgage loan amount. The interest rates vary according to the credit score of th...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
The I-Team Homes has been marketing quite extensively in Gloucester Township NJ including the areas of Blackwood, Erial, and Laurel Springs. We provide housing market analysis for our clients. The following is the most current data we have for Gloucester Township: For the month of March 2009 - New Listings Added in March - 128 (17.3% of the Total Listings Currently on the Market of 589) Average asking price - $236,103 (107.3% of Total Average Listing Prices of $220,090) Properties that are Pending Sales (Under Contract, Not Settled) - 34 Average Price: $175,570 Properties that Settled in March - 32 Average sold price - $170,350 (88.1% of average asking price) Average Days On Market: 106 Days We can provide you with a complete and accurate market analysis for your home with an analysis o...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
We've had many a buyer call us and ask how the $8000 tax credit can help them buy a home if they can't get that money until they buy a home.  A classic Catch-22.  Well, NJ has come up with an answer for those first time home buyers who need the tax credit money to help them with their downpayment or closing costs. The New Jersey Housing Mortgage Finance Agency (NJHMFA) is offering cash payments, in the form of a zero interest loan, of up to $5,000 for qualified first-time home buyers in order to help them defray their closing costs or to satisfy the downpayment requirements.  This will then help new home buyers get into the housing market and buy their first home. This zero interest loan, offered as part of NJHMFA's "Prefund" program, would act like a cash advance against the $8,000 tax...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
The I-Team Homes has been marketing quite extensively in Gloucester Township NJ including the areas of Blackwood, Erial, and Laurel Springs. We provide housing market analysis for our clients. The following is the most current data we have for Gloucester Township: For the month of February 2009 - New Listings Added in February - 102 (19.8% of the Total Listings Currently on the Market of 515) Average asking price - $210,405 (96.9% of Total Average Listing Prices of $217,177) Properties that are Pending Sales (Under Contract, Not Settled) - 35 Average Price: $185,040 Properties that Settled in February - 37 Average sold price - $183,482 (88.1% of average asking price) Average Days On Market: 101 Days We can provide you with a complete and accurate market analysis for your home with an an...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
In the last two days we have received numerous flyers in our e-mail from some local mortgage representatives telling us that First Time Home Buyers can receive their $8,000 credit UP FRONT and use this money as a DOWN PAYMENT. This sounded too good to be true so we checked it out - this was too good to be true.  My wife, Linda, personally phoned the IRS this morning, February 27, 2009 and spoke with an IRS expert on the First Time Home Buyers Credit.  This is what we learned: The 2009 tax credit is for $8,000 and for properties purchased in 2009 by first time home buyers and does not have to be paid back provided the buyer lives there for 3 years.  The buyer can apply for the 2009 tax credit on their 2008 income tax return if they have not filed yet.  If the buyer has already filed thei...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
The I-Team Homes has been marketing quite extensively in Gloucester Township NJ including the areas of Blackwood, Erial, and Laurel Springs. We provide housing market analysis for our clients. The following is the most current data we have for Gloucester Township: For the month of January 2009 - New Listings Added in January - 110 (18.9% of the Total Listings Currently on the Market of 581) Average asking price - $205,041 (92.4% of Total Average Listing Prices of $221,890) Properties that are Pending Sales (Under Contract, Not Settled) - 34 Average Price: $196,300 Properties that Settled in January - 20 Average sold price - $167,344 (90% of average asking price) Average Days On Market: 99 Days We can provide you with a complete and accurate market analysis for your home with an analysis...
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By Terry Iwaniw, Realtor - S NJ
(Avalar Atlantic Properties)
Interest rates are one of the most important considerations for a home mortgage loan. When it comes time to buy your home, it's only natural to be a little concerned about interest rates and whether the rates will increase before a home loan closes. Fortunately, there are some steps prospective home owners can take to prevent your home interest rate from skyrocketing and keep your monthly payment from becoming a shock situation.When you first make an offer on a home, the mortgage loan officer will ask whether you'd like to "lock in" your interest rate. There are lots of options for locking in the interest rate, and the whole premise can seem a bit confusing. What exactly does lock in mean, how much will it cost you and what how long should you lock in?A rate lock is an agreement you mak...
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