Buying a home at the Jersey Shore, What you need to know about Offer & Acceptance and Attorney Review.You found your real estate agent, have your mortgage in place, selected your new home and have and have a contract.  Once all parties (the buyer, the seller and the witnesses) sign the Contract to Purchase you have a fully executed contract.It is at this point you’ll either hire an attorney, or you and your real agent will go it alone and use only a title company.  In north Jersey an attorney is almost always used in a real estate closing.  In southern Ocean County attorneys are sometimes used, and to the south attorneys are rarely used.Because the purchase of a home is probably the largest expenditure you’ll ever make, it’s worth it to get legal advice.  For the most part, attorneys in... 08/30/2009

Buying a home at the Jersey Shore?  What you need to know about mortgage lenders in New Jersey and mortgage loans. Getting a home mortgage loan might seem daunting these days.  There are choices you need to make, much like the choices you make in the type of real estate agent representation. Generally, mortgage lenders in New Jersey fall into two categories, direct lenders and mortgage brokers. Direct lenders, either a bank or mortgage banker, fund your loan upfront but will usually sell many loans in a package, so after closing there might be another company servicing your mortgage. Mortgage brokers generally represent several lending sources and act as intermediaries between you and several lenders. No matter your choice, find a mortgage lender in New Jersey you trust and feel comfort... 08/18/2009

Buying a home at the Jersey Shore?  Congratulations…Let’s take a look at some of the things to consider before you sign on the dotted line. New Jersey Real Estate Agency Relationships  Lenders and Loans Homes and Communities The Contract – Contractual Provisions Offer and Acceptance - Attorney Review Closing The current Real Estate Agency Law in New Jersey is relatively new.  Here’s a brief history of real estate agency law in New Jersey.  Prior to the 1995 every real estate agent worked for the seller.  The law setting up 4 types of real estate agency and disclosure of agency was enacted in New Jersey after a national study found state laws to be lacking.New Jersey now has strict real estate agency laws, and requires real estate agents to tell clients upfront, before any “substantial c... 08/15/2009

Homes for Sale in Little Egg Harbor, NJ Housing Market Trends July, 2009 Fewer homes for sale in Little Egg Harbor were listed in July, 2009 than any other month this year.  That means with fewer homes for sale in Little Egg Harbor, prices should begin to stabilize.  The number of listings of homes for sale in Little Egg Harbor that either expired or were withdrawn from the Multiple Listing Service is also on the rise, contributing to the smaller inventory of single family homes on the market.  Total inventory of homes for sale in Little Egg Harbor, though it varies day to day, is running about 350, while last summer inventory was well over 400 residential single family units.  Little Egg Harbor New Listings Under Contract Expired & Withdrawn Sold Days on Market Median Sold Price Janua... 08/08/2009

The following statistics were pulled from the Jersey Shore MLS system (www.jerseyshoremls.net) on home sales statistics from January 1st, 2009 through July 1st, 2009. The statistics come from closed sales on single family homes, townhomes, and adult community homes in the Little Egg Harbor & Tuckerton market areas.  UPLAND There were 79 upland homes to sell with an average days on market of 127 days (roughly 4 months) Average list price of an upland home was $215,800. Average selling price of an upland home was $204,500 The highest sold upland home listed for $449,900 and sold for $410,000. The lowest sold upland home listed for $72,500 and sold for $60,000. WATERFRONT There were 32 waterfront homes to sell with an average days on market of 172 days (roughly 6 months) Average list price... 07/06/2009

Monthly Housing Market ReportLittle Egg Harbor, New Jersey 08087June, 2009 Single Family Homes  Little Egg Harbor,New Jersey NewListings UnderContract Expired Sold Days onMarket MedianSold Price Jan 2009 83 19 63 10 132 $214,500 Feb 2009 79 29 26 8 111 $233,000 Mar 2009 61 18 34 16 133 $195,500 Apr 2009 79 26 37 17 117 $213,000 May 2009 68 30 43 23 125 $170,000 Jun 2009 92 39 44 26 122 $240,000 Compare these figures to those during the same period of 2008 Little Egg Habor,New Jersey  NewListings UnderContract Expired Sold Days onMarket MedianSoldPrice Jan 2008 87 18 85 22 113 $317,500 Feb 2008 125 32 39 19 89 $220,000 Mar 2008 97 24 31 16 89 $248,500 Apr 2008 94 31 26 24 99 $233,000 May 2008 92 24 53 32 115 $222,400 Jun 2008 80 22 34 28 112 $227,200 Keller Williams Realty - Atlantic Sh... 07/04/2009

The following statistics represent the Little Egg Harbor/ Tuckerton Market home sales statistics, and were taken directly from the Jersey Shore MLS. The time periods represented in this market analysis run from January 1st, 2009 - June 2nd, 2009. UPLAND There were 62homes that sold and their days on market averaged to @ 129. Average list price - $214,000 Average sell price- $204,800 The highest sold property listed for $399,900 and sold for $408,000. The lowest sold property listed for $72,500 and sold for $75,000. WATERFRONT There were 20 homes that sold and their days on market averaged to @ 202. Average list price - $305,900 Average sell price - $277,200 The highest sold property listed for $619,000 and sold for $595,000. The lowest sold property listed for $199,000 and sold for $142... 06/03/2009

Little Egg Harbor, New Jersey 08087Housing  Market Report Monthly Sales Statistics 2009     New  Back on Market Under Contract   Expired With- drawn Sold AvgSold$ Days on Market MedianSold$   Jan 2009   83   13   19     63   12   10   $127,323   132   $214,500 Feb 2009 79 22 29   26 23 8 $88,947 111 $233,000 Mar 2009 61 17 18   34 13 16 $35,514 133 $195,500 Apr 2009 79 15 26   37 17 17 $38,626 117 $213,000 May 2009 68 20 30   43 13 23 $44,898 125 $170,000 If your looking for a home in Little Egg Harbor, New Jersey, or anywhere in southern Ocean County, NJ give me a call.  Let's talk about the real estate opportunities in Little Egg Harbor, Tuckerton, Manahawkin, Barnegat, Waretown and on Long Beach Island! Keller Williams Realty – Atlantic Shore Laura Giannotta 609-384-6121 Laura@Jersey... 06/02/2009

If Memorial Day weekend is any indication, summer 2009 will be a busy one here at the Jersey Shore not only for merchants and beach destinations by for home buyers as well.    The weekend was jammed with home buyers looking for their little piece of the Jersey Shore.  After looking at homes for sale in Manahawkin and Little Egg Harbor, my Jersey Shore buyer clients wanted to cross the Causeway and visit Long Beach Island.  They had many questions about fishing, surfing and points of interest.   .  .  But perhaps the question I get most, from visitors and locals, is the question of public restrooms on Long Beach Island.  So if you’re planning a trip, here’s your pit stop info!   BARNEGAT LIGHT Borough Hall - W 10th StreetBarnegat Light State Park (no beach bathing)   BEACH HAVEN Centre S... 05/29/2009

The following information is provided from the Jersey Shore MLS system and is as follows for the properties sold between April 1st, 2009 and April 30th, 2009: There were 10 upland homes to sell and had an average of 141 days on the market. The highest sold property listed for 319,000 and sold for 317,000. The lowest sold property listed for 72,500 and sold for 75,000. The average list price for the month of April was 183,285 and the average selling price for the month of April was 178,690. There were 3 waterfront homes to sell and had an average of 287 days on the market. The highest sold property listed for 429,000 and sold for 395,000. The lowest sold property listed for 249,000 and sold for 213,000. The average list price for the month of April was 325,000 and the average selling pri... 05/01/2009

Here at the Jersey Shore we're ready for summer!  If your summer plans include boating (any motorized boat or jet ski), beginning June 1, 2009, you're required to have a New Jersey Boating Safety Certificate.  You can take the course online, and also download the information you'll need to complete the New Jersey Boating Safety Certificate course. After completion, an in person exam is required.   In addition to the education requirement that takes effect on June 1, 2009, operators must meet age requirements in order to operate a motorized vessel. A person less than 13 years of age may not operate a motorized vessel. A person under the age of 16 may not operate a Personal Watercraft (PWC). A person 13 through 15 years of age may operate a vessel powered by an electric motor or vessels 1... 04/28/2009

Many first time home buyers, while figuring the expense of owning a home, neglect to budget for home maintenance.  You're figuring mortgage payments and utility costs, right?   But did you remember to budget for home maintenance?  If not, you're threatening the long term value of your investment (home)!  Home maintenance is a very important part of home ownership, and essential to maintaining the value of your home.  You're not a tenant anymore.  If something breaks, it's your problem!  And while you're just moving in, with no thoughts of resale, failure to perform routine maintenance will affect the eventual sale price of your home.  It's recommended that homeowners set aside at least one percent of the home's purchase price to cover things like painting, routine system maintenance (fu... 04/21/2009

Housing Market Report Little Egg Harbor, New JerseyJanuary - March, 2009  Little EggHarbor, NJ New UnderContract Expired Sold AverageSold $ Days onMarket MedianSold $ Jan 2009 83 19 63 10 $127,323   132 $214,500 Feb 2009 79 29 26 8 $88,947   111 $233,000 Mar 2009 61 18 34 16 $35,514   133 $195,500 In 2008, the Little Egg Harbor Housing Market Report looked like this...  Little EggHarbor, NJ New UnderContract Expired Sold AverageSold $ Days onMarket MedianSold $ Jan 2008 87 18 85 22 $76,116   113 $317,500 Feb 2008 125 32 39 19 $105,614    89 $220,000 Mar 2008 97 24 31 16 $100,997    89 $248,500 If you'd like to know the value of your home in today's market, or if you'd like a housing market report for your neighborhood, call or email me.Keller Williams Atlantic ShoreLaura Giannotta609-38... 04/05/2009

With times a changing and the economy the way it is, I am starting to see more and more buyers compromising there location for other aspects of the property. First and foremost, buyers are compromising location over PRICING. Pricing is what sells a home right now, it doesn't matter in what country, state, city, or town you are in, it is pricing that is going to be the #1 determining factor on a buyer's purchase decision. It is like the American way of bargain shopping has hit the housing market and the buyers are only concerned about the deals. "Well I don't really know how much I want to spend, I am really looking more for a deal than anything." That is one of the key phrases I am hearing right now. If I have a buyer qualified for $250,000.00, they might look anywhere from $200,000 to ... 04/03/2009

04/03/2009

The following statistics were pulled from the Jersey Shore MLS for the first quarter of the year, January 1st, 2009 through March 31st, 2009, relative to home sales statistics in the Little Egg Harbor &Tuckerton area.                          # Units Closed  Avg. DOM*     Avg. List $        Avg. Sales $     Highest Sale     Lowest Sale UPLAND HOMES 28 133 $222,000 $211,000 $408,000 $90,000 WATERFRONT HOMES 6 184 $298,000 $275,000 $392,000 $205,000 ** Please note that these are average listing and selling prices. Pricing and value regarding listing and selling prices will vary from home to home. For the most realistic clarification for the value of your home, please contact a Real Estate Professional. ** THERE ARE ALSO 48 HOMES UNDER CONTRACT AWAITING CLOSING IN THE LITTLE EGG HARBOR/ T... 04/02/2009

  Tuckerton/ Little Egg Harbor NJ. These two communitites are basically intertwined (Tuckerton sits in the middle of Little Egg Harbor). Here is some history of the area. History Originally part of Burlington County (now Ocean county) Little Egg Harbor took its name from the portion of a bay called Egg harbor (known now as Little Egg Harbor) by Dutch sailors because of the eggs found in nearby gull nests. The first account of Little Egg Harbor was made in 1614. The first man to settle the township was Hanry Jacobs Falkinburg Sr. He arrived a little before 1698 and would trade with the local Native Americans, giving him farmland and plots of land known now as Wills Island and Osborn Island. Later, as Falkinburg could speak fluent Lenni Lenape, he acted as an interpreter between the India... 03/27/2009

Being that April is "tax month," we have decided to show you another benefit of home ownership from an angle of items you can write off against your income. I am sure some of you are already aware that property taxes, mortgage interest, points paid to lower the interest of your loan and in some cases moving expenses are tax deductible. All of this, plus for the first time homebuyer (first time home buyer, meaning you haven't owned a home in the last 3 years) you benefit from the $8000 tax credit we had talked about in our last issue.  So below we have included a very simple example of the benefits. Current Rent:                                $1,200Mortgage Payment goal:                $1,500Actual Mortgage Payment:             $1,800 Mortgage Amount:                         $225,000Int... 03/27/2009

With the American society based around the concept of keeping up the the "Joneses", does anyone know what to do now that they are gone. The "Joneses" just got foreclosed on last week, is that something you really want to keep up with. When it comes to home buying, please be very conscious in your choice of what you can afford. Don't always base your purchase price around how much you qualify for. You should sit down with your family and go over your expenses each month, and after you have calculated your total expenses (car payments, car insurance, food costs, gas costs, etc. etc.) then determine what you would be able to comfortably afford. It would be best to sacrifice a little bit of house then to be strapped each month and working to live. It is also our job and professionals in the... 03/26/2009

As buyers and sellers, I feel these are some of the most common terms used during a real estate transaction. I have provided and overview of these terms with their definitions below. I hope these help you in some way or another. Agency - The legal relationship resulting from an agreement that the agent is authorized by a principal to perform certain acts on behalf of another person. Agent - A person who is authorized to act on behalf of another person, called the "principal." Appraisal - An estimate of value on a specific piece of real estate. Attorney-in-fact - One who is authorized to perform certain acts for another under a power of attorney. Breach of Contract - Violation of any of the terms or conditions of a contract; default. Buyer's Agent - A person who represents a buyer in a r... 03/24/2009