Jersey Coop

Rising Mortgage Rates, Foreclosures & Short Sales

2009-10-05T13:40:00.006-04:00

Steve Harney, a national real estate expert, recently reported a new development with the Fed and mortgages, as well as making an important prediction regarding rates. Here's what Steve had to say:

Anyone looking to buy, move-up or refinance, MUST do it before the spring. Let me explain why I feel this way. Banks are not currently in the business of lending money to home purchasers. Why? Because, with all the risk associated with mortgaging and with inflation looming why would anyone make a 30 year loan at 5%? So banks, for sometime now, have been content to just collect the up-front fees associated with the loan and the processing fees associated with servicing the loan (billing, collection, etc.). The actual loan is financed by the government who has been willing to make loans at a lower rate in part to help stabilize the economy.

Well, the Fed announced last week that they will no longer be buying those mortgages after March of 2010. Once the government stops purchasing mortgage-backed securities and banks are forced to make the loans, rates will rise. History tells us that once they start to rise they will do so quickly and dramatically.

Again, if you are going to buy, move-up or refinance, DO IT NOW!

If you are seeking to purchase a home before rates go up, contact me at cooper@zastko.com or call me direct at 609-865-8577.

Now for this week's Foreclosures & Short Sales...

Finding Flood Zones, Foreclosures, and More...

2009-09-27T16:12:00.003-04:00

Finding Flood Zones

As Home Buyers continue their search for a home, quite often, the question comes up, "Is this house in a Flood Zone?" Subsequently, questions about Flood Insurance usually follow. Here are some helpful tips.

A Free Way to Determine Flood Zones

Many websites will charge you for this information. However, there is a free site called www.Floodsmart.gov which can be of tremendous help. Very simply, all you need to do is put in your address, and it'll tell you the risk for flooding. Voila!

What About Flood Insurance?

Quite often, if you are in a high risk area, your mortgage lender is going to require that you carry flood insurance. It may even be a good idea to carry it if you're not. However, its important to consult an Insurance Expert to determine appropriate coverages to best protect yourself. If you don't know a good insurance agent, feel free to contact me for a referral.

Does Your Realtor Know?

If Flood Zones are a concerned, be sure to work with a Realtor who knows the areas you are interested in and is constantly checking these homes before showing. This will save you time and energy in your search for a home.

For more information flood zones or overall assistance in finding a home, feel free to call me direct at 609-865-5877 or email me at cooper@zastko.com.

Now for this week's Foreclosures & Short Sales...

This Week's Foreclosures & Short Sales - 9/21/09

2009-09-21T22:10:00.004-04:00

Buyer Frustration

Lately, many buyers have been extremely frustrated in their search for a home. Many times, they find what seems like the perfect deal, even visiting the home with their agent, only to discover that the house has been under contract for weeks! This was unheard of in the past, but is an ever increasing trend with Bank-owned properties. Many exasperated buyers want to know, “Why????”

The Status Quo

Generally speaking, each property that’s listed for sale is entered into an online system, giving real estate agents up to the minute information. Usually, when a seller accepts an offer, the status is changed, notifying all agents that a contract is in play, rendering the property unavailable.

The Rules Change on Bank-owned

Lately, when offers are accepted on Bank-owned properties, some agents aren’t changing the status, leading agents to believe that the property is available, when in reality, its not. Apparently, the claim is that banks are instructing agents not to change the status, so as to “maximize marketing time”. Whether this is true or not, the bottom line is that countless hours are wasted showing these homes, resulting in Buyer frustration and disappointment.

How to Stay Ahead of the Bank

During this crucial period for Buyers, time needs to be used well. In order to stay ahead, Buyers’ agents need to do their due diligence and find out about the status of these Bank-owned homes before viewing. This means doing a little extra work to contact the listing office or track down the agent to discover the truth of the matter. It requires more effort on the part of their agent, but it means that Buyers will only spend time seeing what’s available.

If you’re interested in working with an agent who will put in the extra effort in helping you find a home, feel free to contact me directly at 609-865-5877 or email me at cooper@zastko.com.

And now for this week's Foreclosures & Short Sales...

This Week's Foreclosures & Short Sales - 9/14/09

2009-09-15T15:50:00.008-04:00

How the $8000 Tax Credit Helps Home Sellers

This morning, I had a conversation with a good friend of mine who was looking to buy a larger home for his family. Quickly, the topic turned his condo as he asked the age old question, "Should I sell it now or rent?" Lately, many have asked this question, and while there are many factors that affect it, one that most sellers aren't considering is the $8000 Tax Credit.

How the Tax Credit Affects the Price of Your Home

Even though the tax credit is for Home Buyers, it is creating a very real incentive to buy a home, one that may not be there after November 30, 2009. Many buyers are responding by making the move, creating a declining inventory of homes and numerous multiple offer situations. This has helped to slow down the price decline, creating an artificial bottom.

What if the Tax Credit isn't renewed?

If the tax credit isn't renewed, the urgency is lost, and with it, Buyer demand for homes. Additionally, without the free $8000 from the government, homes will become less affordable to Buyers, resulting in a continued decline until greater affordability kicks in. However, with a lack of urgency or any incentive, slow recovery is the best we can hope for.

What if the Tax Credit is renewed?

This is certainly a much better scenario for both Buyers and Sellers. However, keep in mind that if its extended for another year, many Buyers will procrastinate for 9 months, and suddenly realize, "Nuts! I've only got 3 months to get that credit!" Granted, there will be renewed urgency towards the end, but in the interim, things will probably be slow, and if the number of homes builds up again, prices will decline.

The bottom line is that Today's Tax Credit will help you sell your home, as Buyers are urgently seeking theirs. If you'd like to discuss whether now is a good time to sell your home, or if you're interested in a free market analysis on your home, feel free to contact me directly at 609-865-5877 or email me at cooper@zastko.com.

Now for this week's Foreclosures & Short Sales...

Carteret

Edison

Middlesex

New Brunswick

Perth Amboy

Piscataway

Sayreville

Spotswood

Woodbridge Area

TOWNHOMES - Click Here

MULTI-FAMILY - Click Here

This Week's Foreclosures & Short Sales - 9/7/09

2009-09-07T09:11:00.008-04:00

Labor Day Special!

Focus on HUD Homes

This week, we're putting our attention on HUD Homes. For those not familiar, these are homes that have been foreclosed by HUD and can only be shown by a small group of select, registered agents. This is a fantastic opportunity for any buyer wanting to pick up a great deal with little or no competition for a home.

Here's a highlight of what's available:

Somerset - 3 Bedroom, 1 Full, 2 Half Bath Split

Offered for $240,000!

East Windsor - 3 Bedroom, 2.5 Bath Townhome

Offered for $131,200!

Woodbridge - 3 Bedroom, 1 Bath Ranch

Offered for $235,000!

If you're interested in any of these homes or others like it, or simply want more information on HUD Homes, feel free to call me direct on my cell at 609-865-5877 or email me at cooper@zastko.com.

Now for this week's Foreclosures & Short Sales...

Single Family

Townhomes - Click here

Multi-Family - Click here

This Week's Foreclosures & Short Sales - 9/1/09

2009-09-02T12:13:00.005-04:00

As the summer season draws to an end, we've seen a continual shift in the market. Foreclosure/Short Sale listings continue to be down from several months ago in some areas, though persisting in others.

A Declining Inventory

In Middlesex County, new Single Family homes in a Short Sale or Foreclosure situation are down, with only 15 of a total of 175 new listings this past week, as compared to an average of 12-15% earlier this year. Similarly, townhomes also seem to be down, with only 7 of 66 total.

There are several possible reasons for this. On one hand, perhaps the market is truly getting better, with people finding new jobs. Similarly, banks may also be doing more to help people to stay in these homes through loan modification programs. On the other hand, it could also be that there's so much foreclosure action that only so many can be handled at one time.

A Significant Difference

One stark difference is the Multi-Family homes. There were only 11 Multi-Family homes listed this week, six of them in a Short Sale or Foreclosure situation. With such a low number of total listings, it would seem that owners, many of them investors, are choosing to hold these properties until the market improves. Similarly, those that are selling may be looking just to cut their losses, perhaps from non-performing tenants or overwhelming expenses.

What This Means For You...

If you're looking for a deal on a Bank-owned home, with a declining number of homes to choose from, the opportunity may quickly be slipping away. If you're interested in making a move or simply obtaining more information, please contact me directly at cooper@zastko.com or call me at 609-865-5877.

Now for This Week's Foreclosures & Short Sales...

Single Family

East Brunswick

Middlesex

New Brunswick

North Brunswick

Old Bridge

Perth Amboy

Piscataway

South Amboy

South Plainfield

Woodbridge

Townhomes/Condos - Click here

Multi-Family - Click here

Foreclosures & Short Sales 8/24

2009-08-24T14:58:00.002-04:00

East Brunswick

Edison

Jamesburg

Milltown

Monroe

New Brunswick

Old Bridge

Piscataway

South Plainfield

South River

Woodbridge

Condos

Multi-Family

Foreclosures & Short Sales 8/10

2009-08-11T14:30:00.003-04:00

How DO You Find a Great Deal?

Finding a great deal in this market isn't always easy. After all, if it were, everyone would be doing it. However, with the right people and a little bit of patience, you'll have the deal of a lifetime!

Steps to Finding a Great Deal

Here are some steps to finding a great deal:
1) Be patient and visionary. You need to see potential where no one else does.
2) Never make an offer without knowing what similar homes are selling for and price trends for the neighborhood.
3) Don't be afraid to lose a house if they don't accept your offer. NO EMOTIONAL ATTACHMENTS!

Most importantly, be sure to work with a Realtor who is knowledgeable and a GREAT NEGOTIATOR. If they don't know where to look or how to negotiate the deal, they probably aren't the person for the job.

If you need help finding a great deal or aren't sure you're getting the best service, contact me at cooper@zastko.com or call me direct at 609-865-5877 for a Buyer's Consultation.

Now, for this week's Foreclosures and Short Sales...

Carteret

Edison

Jamesburg

Perth Amboy

Sayreville

South River

Woodbridge

Condos

Multi-Family

Foreclosures & Short Sales 8/3

2009-08-03T13:31:00.002-04:00

Dunellen

East Brunswick

New Brunswick

Old Bridge

Perth Amboy

Piscataway

South River

Woodbridge

Condos

Multi-Family

Foreclosures & Short Sales 7/27

2009-07-27T10:49:00.003-04:00

Central Jersey Market Update

For those who are interested in what the local market is doing, here are a couple of statistics for Middlesex County for the 2nd Quarter that may be of interest:

Single Family Homes:

Avg. Sales Price:

April 2009 - $321,278

May 2009 - $335,563

June 2009 - $358,589

Number Closed:

April 2009 - 217
May 2009 - 264
June 2009 - 374

While this doesn't mean the prices are going back up, it does seem to indicate that there are more second or third time buyers who are now able to move up into a bigger home. Also, more and more people are still making the move to buy a home.

If you'd like to know how your town is doing, please contact me directly at cooper@zastko. I'd be happy to get you the appropriate information.

Now, for this week's Foreclosures & Short Sales...

Avenel

Carteret

Edison

Helmetta

Highland Park

Old Bridge

Perth Amboy

Piscataway

Sayreville

South River

Spotswood

Condos

Multi Family

Foreclosures & Short Sales 7/20

2009-07-20T11:45:00.002-04:00

Aberdeen

Avenel

Carteret

Edison

Fords

North Brunswick

Perth Amboy

Somerset

Condos

Multi Family

Foreclosures & Short Sales 7/13

2009-07-13T11:20:00.003-04:00

Buyer Activity Up, But So Are Foreclosures…

The Real Estate market in New Jersey is a mixed bag right now. We’re seeing many positive signs in the market, indicating a leveling off in price decline. Yet, there are some signs that the worse may not be over yet.

More Buyers, Better Market

We’re continuing to see a dramatic increase in Buyer activity, which is essential for market recovery. Here are two findings from a recent survey (5/27/09) by the National Association of Realtors for the month of April, which is very encouraging:

- The number of Buyers looking for a home is up 14% from a year ago.
- First-time buyers declined to 40% of transactions from 53% in March, implying more second-time buyers are entering the traditional spring home-buying season.

This means that as First-Time Buyers are buying homes with traditional owners (not Short Sales or Foreclosures), those people are now getting into the market to purchase other homes, which is another positive indicator of overall market recovery. However, this recovery may be hindered by another factor.

The 2nd Wave of Foreclosures

The flood of Foreclosures due to sub-prime loans seems to be past us, but it looks as if another wave is coming. According to the Mortgage Bankers Association, “Not only has foreclosure activity surged, it’s become more widespread, as prime, fixed-rate mortgages now constitute 56% of mortgages in the foreclosure process” (Housingwire.com, 5/28/09). One of the primary factors in New Jersey seems to be the unemployment rate, which was last reported at 8.8% by the Dept. of Labor & Workforce Development. If unemployment remains at these levels or continues to rise, we can expect to see its impact over the next 6-12 months on the number of Foreclosures and the overall Market.

What This Means for You

If you’re thinking about buying a home, now may be the best time to make your move. More foreclosures means more selection, but more buyers means more competition for the best homes available.

For more information or to set up a consultation to see if this is the right time for you to buy a home, contact me directly at 609-865-5877 or email me at cooper@zastko.com.

And now, this week's Foreclosures & Short Sales...

Carteret

Cliffwood Beach

Dunellen

East Brunswick

Edison

Fords

Monroe

North Brunswick

Old Bridge

Perth Amboy

Piscataway

Sayreville

Somerset

South Plainfield

South River

Condos

Multi Family

Foreclosures & Short Sales July 6th

2009-07-06T11:44:00.004-04:00

Happy 4th of July, Everyone! This week's list of Foreclosure/Short Sale homes is a lot lighter, compared to the past couple of weeks. Perhaps a lull in the action, perhaps a sign of things getting better, but whatever the case may be, we'll keep you posted.

In the meantime, if you're interested in any of these homes, or anything else you may come across, feel free to contact me at cooper@zastko.com or call me direct at 609-865-5877.

Carteret

Dunellen

East Brunswick

Edison

Fords

North Brunswick

Old Bridge

Perth Amboy

Sayreville

South Plainfield

This Week's Foreclosures/Short Sales - 6/29/09

2009-06-30T14:43:00.008-04:00

Save 20-30% on your next home!

Before...

In the past few months, as prices have dropped and rates remain historically low, many buyers are taking advantage of the current market to buy home. Some saavy consumers are saving even MORE money by buying rundown homes in great locations that no one else wants. Then, with as little as 3.5% down, they are using the bank’s money to fix up the home how they want it, ending up with a fantastic, modern home for much less! This is the magic of the 203(k) program.

...After!!!

Can you show me how?

Take this home for example. A house flipper bought this home for $212,000 and sold it for $299,000 in a multiple offer scenario, putting in about $40,000 in work. A buyer using the 203(k) program could have saved themselves almost $50,000 on this home, and ended up with the upgrades they wanted. That's an enormous savings.

What about unscrupulous contractors?

One of the great features of the 203(k) program is that it is designed to protect Home Buyers from unethical contractors. Here are some of the ways how you are protected:

1) The 203(k) Consultant – This individual is a construction professional whose job is the protect YOU. Working with you, they set the budget and scope of work, as well as inspect all work to make sure it is completed properly.

2) No Deposits – Unlike with regular jobs, contractors do not receive any deposits. This means you are always ahead of the game.

3) No Payments Unless Work is Done Correctly – The Contractor is only paid for work that is done correctly AND approved by your 203(k) Consultant. No work, no money.

With the 203(k) Consultant and the Bank on your side, you can end up with a fantastic home with the upgrades you choose at a tremendous savings!

If you’d like more information on the 203(k) Program, or would like to take advantage of this opportunity, feel free to contact me directly at 609-865-5877or email me at cooper@zastko.com.

And now for this week's Foreclosures and Short Sales...

Many of the homes on this week's list would be absolutely perfect in conjunction with the 203(k) program. As you take a look at these homes, I'd be happy to provide more information or schedule a showing on any that may be of interest.

Foreclosures & Short Sales 6/22

2009-06-22T13:11:00.004-04:00

Well, summer is here, and while home prices are down, activity is up. While there's been a lot of national statistics regarding home prices, there has been very little locally.

The graph to the right represents average home values of single family homes in Middlesex County based on closed sales since 2006. Declines were cyclic, but not as drastic as other parts of the US, until September 2008, when the banking industry imploded. Since then, the market has slowed in its decline. It'll be interesting to see when it actually ends.

On the other hand, it seems the Foreclosure and Short Sale activity continues to rise. Whether this is seasonal or simply banks moving forward is hard to say, but the bottom line is this kind of market is here to stay, at least for the next several months, which means tremendous opportunity for the saavy buyer.

For this week's Foreclosures and Short Sales, check out the list below. Our focus is Middlesex County and surrounding areas, so if you don't see an area, don't feel bad. We can still help! Just drop us an email or call.

If you'd like more information on any of these properties, please contact me at cooper@zastko.com or call me direct at 609-865-5877.

Aberdeen

Avenel

Carteret

East Brunswick

Iselin

Keansburg

Keasbey

Manville

Matawan

Middlesex

Monroe

New Brunswick

North Brunswick

Old Bridge

Piscataway

Sayreville

Woodbridge

CONDOS

MULTI FAMILY

Foreclosures & Short Sales 6/15

2009-06-15T14:24:00.006-04:00

Happy June, everyone! Even though its been rainy most of the month so far, there seems to be a lot more sunshine in our Central Jersey market. Based on the number of closed Single Family homes in Middlesex County, we're seeing a pickup in the market, which is a great thing. Perhaps stability is just down the road...

As usual, we have this week's Foreclosures & Short Sales, which you can view by clicking on the towns below.

If you'd like more information on any of these properties, please contact me directly at cooper@zastko.com or call me direct at 609-865-5877.

This year's Heritage Day Info

2009-06-14T15:53:00.002-04:00

North Brunswick Twp. has just announced this year's Heritage Day! See below for more details. It is a great event...hope to see you all there!

The Annual Heritage Day Festival is North Brunswick’s day to celebrate ethnicdiversity & historic traditions with an outdoor festival which includes great food, crafts , games, music & entertainment. Bring your family, friends, and neighbors as we enjoy our Township’s day to shine.
SEPTEMBER 26, 2009RAIN DATE SEPTEMBER 27, 2009
Begins at noon at Babbage Park
Fireworks & Concert in the evening at
NBTHS Stadium

Foreclosures & Short Sales 6/8

2009-06-08T13:46:00.008-04:00

Hello Everyone! This week I would like to share some statistics with you that were reported by Phil Mintz in a 6/2 article in Business Week. ->

Pending home sales activity was greatest in the Northeast, where the index increased 32.6%, to 78.9, in April, 0.8% above a year ago. The only region that showed a decrease was the South, where the index declined 0.2%, to 93.0, 3.5% higher than a year ago.

Cranbury

East Brunswick

Edison

Fords

Iselin

Metuchen

Middletown

Monroe

New Brunswick

Perth Amboy

Piscataway

Spotswood

Woodbridge

CONDOS

MULTI FAMILY

June 08, 2009
The Best Deals Aren't Always Bank Owned
No matter the price range, I've never worked with a buyer who wanted to pay more than a house was worth. On the flip side, especially these days, the vast majority of buyers I work with want a deal. After all, with a drop in value, low mortgage rates, and the tax credit, its a great time to buy. So, how do you find those deals?
Don't Always Bet on the Bank-Owned
Many people believe that bank-owned are the best deals, but this isn't always the case. Many times, it depends on bank expectations, the property condition, and what the house is really worth. If a bank could get $300,000 for a house, why would they sell it for $200,000? Yes, there's some motivation on the part of banks to sell quickly, but it doesn't always mean great pricing.
So, How do I Find These Deals???
To find a deal, you need to find a seller with motivation to sell quickly. For example, job relocation, bankruptcy, marriage, divorce, death in the family, etc. If people NEED to sell, that's where you'll get your best deals.
Where Do I Start?
Best thing to do is to setup a Buyer's Consultation with a Realtor who knows how to recognize seller motivation and can hunt down these homes for you. A full-time Realtor who knows their market and takes the time to meet with you will be your best asset in achieving your goals.
If you'd like help finding these deals or would like more information, feel free to email me at cooper@zastko.com or call me direct at 609-865-5877.

This Week's Foreclosures & Short Sales

There seems to be a good number of Foreclosures & Short Sales on the market this week. You can view them by clicking here.

Deal of the Week

While not a Foreclosure, this East Brunswick home is an Estate sale that is priced right and ready to move. After all, not all the best deals are Bank owned!
Offered at $244,900
If you're interested in this or any other home, please contact me at cooper@zastko.com or call me direct at 609-865-5877.

Cooper FordRealtor Associate732-297-0600Email Me Visit My Website
Copyright © 2009 Cooper Ford. All rights reserved.

Foreclosures and Short sales 6/1

2009-06-01T11:07:00.005-04:00

Welcome first week of June! With the coming summer, along with buyer incentives, we've seen a tremendous increase in activity. Even though overpriced homes continue to sit, those that are priced well are moving, some of them even getting multiple offers and going OVER list price (I kid you not.).

Here are this week's listings for Middlesex County. Click the town to view. If you'd like more information on any of these homes or have any other questions, feel free to contact me directly at 609-865-5877 or cooper@zastko.com.

East Brunswick

Edison

Monroe

New Brunswick

Old Bridge

Piscataway

Sayreville

South Plainfield

CONDOS

MULTI-FAMILY HOMES

Get Off the Fence!
These past couple of weeks, we've seen a tremendous increase in Buyer activity. Many have been waiting and watching, and now, they are making their move.
Rates on the Rise
This past week, mortgage rates actually increased signficantly, going up 0.25%, reversing a previous flatline trend. As previously reported, rates were artifically suppressed to unusual lows, and with greater confidence in the market, they are now on the rise. Rates are still great, but if you're looking for the absolutely lowest, you missed it.
A Changing Market???
Another trend we've seen this past week is a shift on certain homes from a Buyer's to a Seller's Market. This is happening when Sellers are pricing their homes well, causing several potential Buyers to make offers on their home, resulting in a contract at or over list price. Many homes are still over-priced, leaving the overall market in the Buyer's favor, but by using this technique, Seller's are taking control on their home (even though its still a great price for the Buyer!).
Don't Get Caught Waiting
In the end of the day, those who sit and wait for something to happen will lose out. As Jeff Otteau recently said:
"Those who wait will regret it. The next six months represents a sweet spot in the housing market that isn't going to come back."
If you're ready to make the move, feel free to contact me at cooper@zastko.com or call me direct at 609-865-5877.
This Week's Foreclosures and Short Sales
Activity has really begun to pick up in Central Jersey as buyers are coming out of the woodwork. You can view this week's Foreclosure and Short Sale homes by clicking here.
Deal of the Week

WOW!!! This Grand 5 Bedroom, 4 1/2 Bath Estate home in Old Bridge is BANK OWNED and ready to move! Definitely would not wait on this one!
Offered at $625,000.
For more information or to schedule a showing, feel free to contact me at cooper@zastko.com or call me direct at 609-865-8577.

Cooper FordRealtor Associate732-297-0600Email Me Visit My Website
Copyright © 2009 Cooper Ford. All rights reserved.

Foreclosures & Short Sales 5/26

2009-05-26T11:19:00.006-04:00

I want to share a quote with you this week made by Jeff Otteau on the 17th of this month in the Home News Tribune. "The window of opportunity is between now and the end of the year," Otteau said. "Once the public starts feeling more comfortable about the security of their jobs and starts to buy, that window will close quickly. Those who wait will regret it. The next six months represents a sweet spot in the housing market that isn't going to come back."

Carteret

Colonia

East Brunswick

North Brunswick

Old Bridge

Perth Amboy

Piscataway

Sayerville

South River

Woodbridge

CONDOS/TH

Foreclosures & Short Sales 5/18

2009-05-18T13:02:00.006-04:00

Memorial Day is nearly upon us and Single Family short sales and foreclosures have fallen off a bit while town houses/condos seem to be growing.

Here is this week's listings for Middlesex County. Click the town to view. If you'd like more information on any of these homes or have any other questions, feel free to contact me directly at 609-865-5877 or cooper@zastko.com.

CARTERET

HIGHLAND PARK

NEW BRUNSWICK

PERTH AMBOY

PLAINSBORO

SAYERVILLE

SOUTH BRUNSWICK

TOWN HOUSES/CONDOS

This Week's Foreclosures/Short Sales - 5/11/09

2009-05-12T14:22:00.010-04:00

Happy Mothers Day! We've had a few more properties pop up from a few towns that were not on here last week.

Here are this week's listings for Middlesex County. Click the town to view. If you'd like more information on any of these homes or have any other questions, feel free to contact me directly at 609-865-5877 or cooper@zastko.com.

Single Family

Avenel

Carteret

Colonia

Edison

Jamesburg

Milltown

New Brunswick

Old Bridge

Perth Amboy

Piscataway

Woodbridge

Townhomes/Condos
Click Here

Multi-Family
Click here

This Week's Foreclosures/Short Sales - 5/4/09

2009-05-04T21:55:00.006-04:00

As the Spring Season picks up, we've been seeing more and more homes coming on the market, and with it, Foreclosures and Short Sales as well. Single Family Homes that came on the market were pretty consistent with the number of Foreclosures & Short Sales, with 25 of 266 homes falling into that category. On the other hand, the number of Townhomes and Multi-Family homes in the category jumped!

Here are this week's listings for Middlesex County. Click the town to view. If you'd like more information on any of these homes or have any other questions, feel free to contact me directly at 609-865-5877 or cooper@zastko.com.

Single Family
25 Listings

Carteret
Edison
Highland Park
Milltown
Monroe
New Brunswick
North Brunswick
Old Bridge
Perth Amboy
Piscataway
Plainsboro
South Brunswick
South River
Woodbridge Area

Townhomes/Condos
7 listings - Click here

Multi-Family
6 listings - Click here

This Week's Foreclosures/Short Sales - 4/27/09

2009-04-27T22:44:00.003-04:00

The percentage of Foreclosures and Short Sales that came on the market this week were pretty consistent with this past week. For Single Family Homes, 23 of 218 homes. Only 2 Townhomes and 2 Multi-Family homes as well.

Here are this week's listings for Middlesex County. Click the town to view. If you'd like more information on any of these homes or have any other questions, feel free to contact me directly at 609-865-5877 or cooper@zastko.com.

Single Family
23 Listings

Edison
Highland Park
Jamesburg
Middlesex
Monroe
New Brunswick
Old Bridge
Piscataway
South Plainfield
Woodbridge Area

Townhomes/Condos
2 listings - Click here

Multi-Family
2 listings - Click here

This Week's Foreclosures/Short Sales - 4/20/09

2009-04-20T20:40:00.002-04:00

Another light week in Foreclosures and Short Sales. For example, in Single Family Homes, we had 235 new listings, but only 22 in the Foreclosure/Short Sale category (less than 10%). New Multi-Family homes and Townhomes/Condos were even lighter!

Here are this week's listings for Middlesex County. Click the town to view. If you'd like more information on any of these homes or have any other questions, feel free to contact me directly at 609-865-5877 or cooper@zastko.com.

Single Family
22 Listings

Carteret
East Brunswick
Edison
Metuchen
Middlesex
New Brunswick
North Brunswick
Old Bridge
South Plainfield
South River
Spotswood
Woodbridge Area

Townhomes/Condos
4 listings - Click here

Multi-Family
1 listing - Click here

This Week's Foreclosures/Short Sales - 4/13/09

2009-04-13T22:22:00.004-04:00

This week's Foreclosures and Short Sales were pretty light, though that's to be expected this past week, especially with Easter and Passover.

Here are this week's listings for Middlesex County. Click the town to view. If you'd like more information on any of these homes or have any other questions, feel free to contact me directly at 609-865-5877 or cooper@zastko.com.

Single Family
15 Listings

Carteret
Edison
North Brunswick
Old Bridge
Piscataway
Sayreville
South Brunswick
South Plainfield
Woodbridge Area

Townhomes/Condos
5 listings - Click here

Multi-Family
1 listing - Click here

This Week's Foreclosures/Short Sales - 4/6/09

2009-04-06T21:00:00.006-04:00

This week's Foreclosures and Short Sales made up for the week before. In Single Family homes, 12.25% of the 253 new listings fell into this category. In Condos, 8.79% of the 98 and for Multi-Family, 31.25% of the 16. As I said last week, one week a market does not make, but we'll be looking deeper into the 1st Quarter of 2009 this coming week.

Here are this week's listings for Middlesex County. Click the town to view. If you'd like more information on any of these homes or have any other questions, feel free to contact me directly at 609-865-5877 or cooper@zastko.com.

Single Family
31 Listings

Carteret
East Brunswick
Edison
Highland Park
New Brunswick
Old Bridge
Perth Amboy
Piscataway
Plainsboro
Sayreville
South River
Woodbridge Area

Townhomes/Condos
8 listings - Click here

Multi-Family
5 listings - Click here

This Week's Foreclosures/Short Sales - 3/30/09

2009-03-30T20:41:00.002-04:00

This week's Foreclosures and Short Sales were light this week. For example, single family homes usually represent about 10% of each week's available listings, but this week, only about 5% of single family homes were Short Sales & Foreclosures. Of the 70 available Condos and Townhomes, only One! We're going to keep an eye on things. One week a market doesn't make, but it could be a sign of things turning around.

Single Family Homes - Click Here!

(Dunellen, Edison, New Brunswick, North Brunswick, Old Bridge, Perth Amboy, Piscataway, Sayreville)

Townhomes/Condos - Click Here!

(Woodbridge)

Multi-Family - Click Here!

(New Brunswick, Perth Amboy)

If you're interested in more information on purchasing one of these, or any other homes, please contact me at 609-865-5877 or cooper@zastko.com.

This Week's Foreclosures/Short Sales - 3/23/09

2009-03-23T22:51:00.002-04:00

Here is this week's list of Short Sale and Foreclosure homes. To help serve you better, I'll also be listing the towns in each category as well. If you're interested in any of these, or would like more information, you can contact me directly at 609-865-8577 or email me at cooper@zastko.com.

Single Family Homes - Click here!

(Carteret, East Brunswick, Edison, Jamesburg, Monroe, North Brunswick, Perth Amboy, Piscataway, Sayreville, South Brunswick, South Plainfield, South River, Avenel, Colonia, Fords)

Townhomes/Condos - Click here!

(Edison, North Brunswick, Perth Amboy, Piscataway, Sayreville)

Multi-Family Homes - Click here!

(Carteret, New Brunswick, Perth Amboy)

This Week's Foreclosures/Short Sales - 3/16/09

2009-03-16T13:14:00.002-04:00

Happy St. Patrick's Day!

Here's this week's array of Foreclosures and Short Sales.

Single Family - Click Here!
Multi-Family - Click Here!
Townhomes/Condos - Click Here!

For more info on any of these, or a free Buyer's Consultation, contact me directly at 609-865-5877 or email me at cooper@zastko.com.

East Brunswick officials use economic development summit to draw retailers

2009-03-16T10:28:00.001-04:00

It looks like township officials in East Brunswick are trying to find ways to bring in business and fill vacancies along Rt. 18. (Apparently, North Brunswick is also looking into this scenario along Rt. 1.) Its good to see the township being proactive. Instead of sitting around watching revenues drop, they are looking for ways to draw in more business, and hopefully, create more jobs.

For the full article, click here.

This Week's Foreclosures/Short Sales - 3/9/09

2009-03-09T22:00:00.003-04:00

Well, we seem to be a bit light on Townhomes/Condos, along with Multi-Family homes. However, there were a good number of new HUD homes that just came on the market (contact me directly for more info - 609-865-5877 or cooper@zastko.com). Here are the links for this week's homes:

Single Family - Click here!
Townhouse/Condos - Click here!
Multi-Family - Click here!

For more details on any of these homes, or answers to any other burning questions, contact me directly - 609-865-5877 or cooper@zastko.com. More to come next week!

Who is Fighting For You?

2009-03-09T21:34:00.001-04:00

This past weekend, I had the opportunity to sit down with a new client for a Buyer Consultation. During that time, he relayed some advice from a friend who recently bought - "Make sure you get an agent who will fight for you."

Negotiation is Half the Battle

Sellers won't just give a home away for the price you want for it (unless you're feeling unusually generous). The agent whom you choose to represent you needs to convince them not only to accept what you're offering, but better yet, that its the best thing that's every happened to them. Its the only way to consistently get a great deal on a home.

Not Every Agent is a Negotiator

Contrary to popular belief, not every agent is a great negotiator, nor do they have the skills or training that it takes to successful navigate this process of their clients. (In fact, some agents don't like it and would rather do ANYTHING else!)

How Do I Find a Good Negotiator?

Here are a couple of questions you can ask:

1) What kind of training have you received?
2) Explain how you would go about it.
3) Give me some examples of successful negotiations you've engaged in.
4) What makes you a good negotiator?

If you're interested in learning more, I'd welcome the opportunity to meet you for a Buyer's Consultation. I can be reached at 609-865-5877 or cooper@zastko.com.

This Week's Foreclosures/Short Sales - 3/2/09

2009-03-02T17:11:00.004-05:00

Happy Snowy Monday!

We've had a pickup of Buyer activity this past week, even with all this hype about snowy weather. Perhaps its the $8000 tax credit, perhaps its the change of the months, but whatever it is, there seem to be more and more buyers out looking for homes.

What this means for you is that if you're looking for a bargain, you've got more people you're in competition with. Not the end of the world, but certainly makes it more difficult.

In the meantime, here's this week's list of Short Sales and Foreclosures.

Single Family Homes (Click here!)
Townhomes/Condos (Click here!)
Multi-Family Homes (Click here!)

If you'd like my personal assistance in finding a particular home, please feel free to contact me for a free consultation - 609-865-5877.

This Week's Foreclosures/Short Sales - 2/23/09

2009-02-23T22:52:00.002-05:00

Its been quite a busy week. With news of the $8000 tax credit for first time home buyers, people are coming out of the woodwork to buy a home. Perhaps this will help turn things around.

In the meantime, here are this week's homes:

Single Family (Click Here!)
Townhomes/Condos (Click Here!)
Multi-Family (Click Here!)

If you don't find what you're looking for here, drop me an email and let me know what you're looking for. I only list Foreclosures and Short Sales here, but there are still plenty of great deals otherwise.

Foreclosures & Short Sales - 2/16/09

2009-02-16T23:52:00.004-05:00

Happy Presidents' Day Weekend everyone!

A lot of new listings this week to go through. You can view them by clicking below. As your searching for a home, if you'd like some professional help, please don't hesitate to drop me a line. As I've said time and time again, your best deals won't necessarily be your foreclosure homes! In the meantime, once again, here are this week's homes:

Single Family (Click here!)
Townhomes/Condos (Click here!)
Multi-Family Homes (Click here!)

All the Best on your Home Search. Don't forget, if you'd like more information on these or any other homes you see, don't forget to email me - cooper@zastko.com.

Stunning Edison Colonial!

2009-02-12T19:05:00.002-05:00

I just listed this house last night, and already, there's been a buzz of activity. This beauty is a completely renovated 3 Bedroom, 2.5 Bath Colonial for $319,900. (Where else are you going to find a home like this for that price?) Granted, its not a foreclosure, but its still a great deal!

This Week's Foreclosures & Short Sales

2009-02-09T15:54:00.002-05:00

Happy Monday everyone!

Here are the links for this week's latest foreclosure and short sale homes for sale. No townhomes or condos this week, but if you're interested in picking up some investment property, several multi-family homes came on the market that may be of interest.

Click here for Single Family Homes
Click here for Multi Family Homes

As always, if you're interested in seeing any of those or would like more information, I can be reached at 609-865-5877 or via email @ cooper@zastko.com.

Another Reason I Don't Have Much Sympathy for Banks...

2009-02-08T23:29:00.003-05:00

Alright, maybe not all banks... However, first, you've got banks receiving BILLIONS of dollars in Bailout money, though no one seems to know how it was used, expect it wasn't to give more people loans...

Now, you've got these horror stories of legitimate people needing help with loan modifications from banks who say they want to help, but when it comes time to put their money where their mouth is... (Click here for the story)

In all fairness, if anyone can share some positive stories of banks helping people, please let me know, and I'd be happy to share it. (I try to stay positive, but it can be so frustrating at times...)

This Week's Foreclosure Homes

2009-02-02T07:42:00.001-05:00

Happy Monday everyone! Here are the links for this week's latest foreclosure and short sale homes for sale. I've gotten a lot of requests for townhomes as well, so I'm including a seperate link for those interested.

Click here for Single Family Homes

Click here for Townhomes/Condos

As always, if you're interested in seeing any of those or would like more information, I'm always available to help.

Central Jersey Price Trend Update

2009-02-02T06:45:00.001-05:00

Here are the current statistics from select Middlesex County towns, comparing the 4th quarters of 2007 & 2008. These are all based on Single-Family home Closed sales from the Middlesex County MLS.

Average Price Change by Town

East Brunswick: -13%
Edison: -5.5%
Monroe: -11.8%
North Brunswick: -13.5%
Old Bridge: -12.3%
Piscataway: -4.4%
South Brunswick: -1.5%
Woodbridge Area: -7.7%

Average Change in Number of Homes Sold by Town

East Brunswick: -23%
Edison: -28.3%
Monroe: -3%
North Brunswick: -36%
Old Bridge: -27.7%
Piscataway: 13.6%
South Brunswick: -12.5%
Woodbridge Area: -8.5%

What Does It All Mean?

Some towns have taken a bigger hit than others, but why? For each area, there's a number of local factors, along with national factors, that affect prices and number of homes sold. Nationally speaking, this past quarter was when everything really hit the fan with the banks, along with the first bailout. As a national trend, we've also send a massive reduction in number of new construction and McMansion style homes sold, which includes some of these areas.

On the flip side, as prices come down and rates stay low, some of these areas have become much more affordable, and thus, home purchases. Similarly, I can't imagine that the strength in numbers in Piscataway, Edison, and South Brunswick isn't also due to recent positive reports about these towns and school systems.

Keep an eye out. We'll be taking a closer look at price trends in different price ranges next week.

Just Listed in East Brunswick

2009-01-26T12:59:00.002-05:00

This spacious East Brunswick beauty just came on the market for $272,000. The owner has taken great care of this home and added plenty of updates. Check out the virtual tour!

How to Find an Ethical & Honest Realtor

2008-11-25T10:51:00.009-05:00

In light of the recent Gallup Poll where only 17% of the public rated Real Estate agents favorably in terms of honesty and ethics, it begs the question, "How do I find an honest and ethical Realtor?"

This is a great question. For example, if you're looking for a home in my home town of North Brunswick, you couldn't simply open the phone book or google "Honest Ethical Realtor North Brunswick". After all, how would you know? How would you avoid getting this guy?

While there are no guarantees, here are a couple of things you can do:

1) Research prospective agents on the Internet. Check out their website and/or blog, as well as other Real Estate sites, such as Realtor.com, Homes.com, and Trulia.com.

2) Find out what other people’s experiences are with that agent. A great source of information is http://www.incredibleagents.com/.

3) Visit Open Houses. This is a great opportunity to interact with agents on a preliminary basis before committing to anyone in particular.

4) Select three agents and interview each one. During that process, have a list of questions to help determine their qualifications and ability to best serve your needs.

Finally, if you're unable to find a Realtor you feel you can trust in the area you are searching, you can always ask another Realtor for a referral. This is a great way to get a professional recommendation from someone who knows the business, but isn't trying to earn your business.

If you have any other questions or thoughts, feel free to contact me. I'd be happy to help!

Public Rates Honesty & Ethics of Realtors

2008-11-25T10:19:00.006-05:00

In a recent Gallup poll, Americans rated the ethics and honesty of different professions. Nurses came up at the top, along with pharmacists and high school teachers.

What was a bit of a disappointment was the real estate agents ranked so low. Only 17% of people surveyed rated them as very high/high, while 25% rated them as low/very low.

It's a sad state of affairs when a majority of people feel that can't trust the very people who are guiding them in making some of their most significant financial and life decisions.

At the same time, we, as Realtors, need to do a better job of setting a higher standard and earning the trust of the general public (and it certainly doesn't help when NAR come out with bogus statistics). It's our fault as a profession if the public doesn't view us highly.

Real Estate Market Report (3rd Quarter) - North Brunswick, South Brunswick, East Brunswick

2008-10-15T13:18:00.010-04:00

With the economic events of the last few weeks, I've been keeping a close eye on our local market. Before the bailouts, many people were predicting that we were close to the bottom, and though prices may continue to drop, the number of homes sold would go up. Now, with this economic uncertainty, its hard to say. Let's take a look at the market data...

As we've been seeing in national trends, based on data from the Middlesex MLS, the average price of a single family home in the Brunswicks have gone down, though the reality is that we haven't seen such a sharp decline until this past quarter.

While its early on in this quarter, based on current trends, we'll probably see the average price drop into the 450-455K range, though in these times, anything is possible.

Something I've been watching closely is the number of closed sales. While the numbers are down, they aren't that far off. If we see this number go up year over year in the 4th quarter into 2009, we could be looking at the bottom of the market. However, if we continue to have economic turmoil or rates rise significantly, we may continue to see a drop in number of home sales.

Once we see a stop to a drop in number of sales, that'll be great news, because prices will follow. Perhaps not immediately, but they will follow.

Sellers - The Bottom Line

2008-10-02T14:16:00.002-04:00

If you saw the graph of the Case-Shiller Index in my previous post, you can see that average prices in decline and are predicted to do so. So, what does that mean for a Home Seller?

1) If you wait to sell your home or to price it where it will sell, the price of the home will continue to decline into 2009-2010, perhaps even into 2011, in the case of a severe recession.

2) In a more normal scenario, your home will be worth what it is now in 2011 (3 years from now).

3) In a severe recession scenario, your home will be worth what it is now in 2013 (5 years from now).

The Bottom Line - If you want to wait to get a certain price for your home, you may be waiting a very long time. However, if you need to move, don't wait. Inaction could be very costly!

Real Estate National Market Forecast

2008-10-01T15:35:00.005-04:00

With all the craziness going on in the stock market and our economy, people are wondering, "What about home prices?" According to the Case-Shiller price index, a lot depends on our economy. Take a look at this graph...

In a normal market, we can expect to see the bottom somewhere in 2009, with prices equivalent to 2004. However, in a severe recession scenario, we're looking at a bottom in 2011, with prices equivalent to 2001/2002, meaning an additional 25% decline.

Granted, here in New Jersey, while we've had our decline, prices haven't dropped as signficantly as the rest of the nation. However, whichever scenario happens, we're in for a bumpy ride.

Stay tunes for practical implications for Buyers and Sellers...

First Time Home Buyer Tax Credit!

2008-08-10T15:35:00.004-04:00

It's a great time to be a first time home buyer. Yes, the new housing bill passed. Among many of the new provisions, there is a tax credit up to $7500, which can be used on a home sale closing on or after April 9, 2008 and before July 1, 2009. Coupled with low mortgage rates and stablized prices in the Brunswick area, home buyers are in a great position to pick up a great deal.

A STRONGER NJ!

2008-08-01T14:33:00.004-04:00

FROM TEMI'S DESK!!

“I was reading in the Home News Tribune that the $200 million State Department of Transportation project on route 18 will be completed this fall. This new project is great for the North Brunswick, New Brunswick, and East Brunswick area because it causes better traffic flow on town roads. Rutgers University is also benefiting from this new development by adding a new interchange under Douglass Campus. I am really looking forward to its completion.”
CLICK HERE FOR MORE INFO!!

House left off North Brunswick tax rolls since early 1990s

2008-07-19T20:40:00.003-04:00

Here's one way to avoid property taxes in New Jersey...

(Copied from MyCentralJersey.com)

House left off North Brunswick tax rolls since early 1990s

By RICHARD KHAVKINE
STAFF WRITER

A Forest Lane lot has been continuously assessed by the township as vacant land even though a sizable home was built on the parcel in or about 1991.
Township officials are combing municipal records in an attempt to determine how the home at 262 Forest could have been left off the assessment rolls. "(The house) hasn't been assessed since it was built,'' the township assessor, Diane Walker, said.While township officials initially thought that no permits of any kind, including construction permits and a certificate of occupancy, were ever issued for the home, those all turned up last week, said Michael Hritz, the township's director of community development."We've determined it did have building permits. ... It was properly inspected through the construction process, and ultimately was issued a certificate of occupancy'' in 1992, Hritz said.Hritz said the error occurred either because an appraiser failed to correctly assess the property or because the certificate of occupancy was never sent to the Tax Assessor's Office.The property owner's name is listed in Middlesex County records as Klein Development Group. According to telephone records, a Ted Klein has lived at 262 Forest since 1992. "It's not something I'm aware of,'' said a person who answered the phone at the house last month and confirmed he was Ted Klein. "It's in the business' name,'' he added before hanging up.Klein has not returned phone messages requesting further comment.The 105-foot-by-412-foot lot is assessed at $72,800. Total taxes owed on the lot in 2007, including those due to the North Brunswick school district and to Middlesex County, were $3,087, according to municipal records.The owners of a similar home, though on a smaller lot, on the quiet cul-de-sac near Church Lane owed $14,908 in taxes in 2007.Following initial inquiries by the Home News Tribune, township officials at first could not find the construction, inspection or occupancy permits and were confounded as to how the home could have remained unassessed for 16 years.But officials then realized that Forest Lane was first named Adams Lane. They searched further and found the permits filed under the Adams Lane address. The house was one of the first two lots developed on that street, Hritz said."It was really a matter of how we were searching for it,'' he said.Walker also said the missing assessment could be tied to a faulty revaluation initiated by the township in the mid 1990s. The fallout from that revaluation led to fraud charges against a New Brunswick-based appraiser, Anthony J. Billings, who later admitted to tampering with public records, turning in assessments of homes that did not exist, and reporting that he inspected houses he never visited, among other misdeeds."(Billings) skipped it over, as far as I can tell,'' said Walker, township assessor since 2002, referring to the untaxed house."It will be assessed in October,'' Walker said of the elegant, roughly, 3,600-square-foot, two-story home. ""As of that time, it will back taxed two years.''Among the things to be determined is how responsible the property owner is for back taxes, given that the required paperwork was filed with the township.Still, Mayor Francis "Mac'' Womack said the township would make a concerted attempt to recoup what it could in back taxes."We've turned it over to authorities to make sure we can recover anything we can‚.‚.‚.‚by law,'' either by way of damages or fines, Womack said. ""We're going to do everything that we can legally.''The township attorney, Ronald Gordon, could not be reached for comment.Womack said that while few details about the matter could be gathered so far, township authorities are looking into whether it is a unique instance. "When we hand it over to the investigative authorities, there are no conditions on what, where and whom. They'll follow the trail wherever it goes,'' Womack said. "It does the raise the question: Is this an isolated situation or part of a potential larger problem, and the burden is on different departments ... to show that this is an isolated incident. We won't assume it isn't until we review our systems and make sure we have no reason to believe there's anything else out there.''All township officials with oversight at the time the house was built, including the assessor and inspection and construction personnel, are no longer with the township, Hritz said.The lack of institutional memory is hampering the township's efforts to find out how the home was never assessed, he said. "The existing professional staff has been researching this with no existing knowledge of this issue,'' Hritz said.

Open House - North Brunswick

2008-07-19T11:34:00.004-04:00

For anyone who wants to stop by, I'll be hosting an Open House at 642 Wood Ave. in North Brunswick tomorrow (7/20/08) from 1-4 PM. It's a 3 Bedroom, 1 Bath Ranch listed at $249,900 with taxes just under $4000/year. It's in really great condition and is a wonderful alternative to living in a condo (with no maintenence fees!). See you then!

Closed! - Ken Chan, Piscataway, NJ

2008-07-06T14:46:00.003-04:00

Ken Chan - Piscataway, NJ

Ken was looking for a home that he could both move into and expand later on. Additionally, as a medical professional in New Brunswick, he also wanted to be close by in Piscataway. After searching for a while and watching the market come down, we found him a young bi-level on a 100x200 lot with 3 bedrooms and 2 full baths. Though we hit a couple of bumps in the road, we made it through and closed July 1st.

Congratulations!

Work With the Best and Help Your Friends, Too!

2008-07-03T17:50:00.004-04:00

Plenty of people have a friend that has their real estate license. For one reason or another, they normally wouldn't use them, whether it's because they only work part-time, don't know an area, or are inexperienced. Yet, they will still use them, because that person as a friend. They would never use them, but for fear of offending them or hurting their friendship, they will, despite believing deep down (and they'll never say it) that they might have done better with someone else.

Here's a solution for you. Be upfront, be honest, tell that person you'd like to work with Realtor A, but that you would like to get them a referral fee to help them out (usually 25-30% of the commission). Have your friend call Realtor A and refer you to them. You're now getting the best service available and your friend is getting paid for making a phone call. Not a bad deal!

North Brunswick Transit Village Update

2008-06-23T11:12:00.001-04:00

From the Home News Tribune...

June 20, 2008
State DOT to fund $3 million study of North Brunswick Transit Village proposal

By GENE RACZ
STAFF WRITER

Proposed plans for a North Brunswick Train Station and Transit Village just got a $3 million boost from the state Department of Transportation, which will help fund a feasibility study.

The grant will be given to Middlesex County, primarily to examine ways to connect Route 130 and Route 1 in the vicinity of the station proposed for a 212-acre former Johnson & Johnson campus. In addition to a new stop along the New York to Trenton Northeast Corridor rail line, initial plans include a hotel and commercial and residential sites.

The former J&J site, including its 1.2 million square feet of building space, was purchased by North Brunswick TOD Associates, LLC, an affiliate of Garden Homes and Garden Commercial Properties, in summer 2006.

"The overall project is not one that's just good for North Brunswick, but one which would be good for the entire region and the entire state," North Brunswick Mayor Francis Womack said. "It is good that the state and the county are having the foresight to do this study not only when you look at the long-term economics for the region, but the day-to-day battle everyone has with gas prices. This is the kind of thing we need to be doing, and you can't have a Transit Village without the infrastructure.

"A study showing how much it will cost is a step in the right direction."
In a letter to Middlesex County Freeholder Director David B. Crabiel, dated May 28, state DOT Commissioner Kris Kolluri noted that the area between Route 130 and Route 1 in the proposed location "is made up of large expanses of wetlands, streams and forested areas." Kolluri added that the key for success in coming up with a viable plan will depend upon "coordination with the Department of Environmental Protection, New Jersey Transit and Amtrak."
Kolluri's letter proposed that Middlesex County assume the lead for the initial phases of the study and that in order for the DOT to fund successive phases of work, "this initial study must conclude that the project is feasible and fundable."

A new train station in North Brunswick would fill the largest gap in the New Jersey Transit System — a 14-mile stretch between the New Brunswick/Jersey Avenue stop and the Princeton Junction station.

North Brunswick has held a series of town meetings regarding the project which is conservatively estimated to cost about $100 million to complete. Womack noted that NJ Transit has plans to install a loop for trains to turn around just south of the proposed station.

"We do know that the bigger picture is that in terms of the state of New Jersey and the towns, we've all got to get together and get our economic situation straightened out so that the Department of Transportation will have money to give us so we can actually have these things that we need."

It's a Matter of Trust

2008-06-19T21:47:00.003-04:00

I often run into people who don't trust Realtors. Sometimes, I can understand why. They feel that agents simply want to sell them something, and will do anything to get them to, whether it's bending the truth to outright deception. Instead of real service, it's all about getting paid, and once they're locked into a contract, it's all downhill from there. It certainly is a challenge building trust in this kind of environment.

Of course, then you have NAR making a drastic mistake on numbers in NJ, which doesn't help. (I believe them when they say it's an honest mistake, but for the skeptics, it only fuels the fire... Like any professional, whether contractors, attorneys, mechanics, you name it, there are always those you can trust and those you can't. Trust can be earned, but I know it's a challenge.

NAR owns up

2008-06-19T21:40:00.003-04:00

Star Ledger, June 14, 2008 -

"When the National Association of Realtors issued its first-quarter report on the health of the housing market last month, New Jersey was singled out as one of only three states that saw the volume of home sales increase during the first three months of the year.

On Friday, the Realtors' group issued a huge correction, saying that instead of a slight increase, New Jersey's housing market actually saw a 30 percent drop in home sales during the first quarter compared with the same period last year. "It happened in the crunching of the numbers," said NAR spokesman Lucien Salvant. "It was just a mistake and we owned up to it."

As it turns out, only 114,100 homes were sold across the state during the first quarter - nearly a third less than the 163,000 sales recorded in the first three months of 2007. "

Local Market Update

2008-06-19T21:33:00.003-04:00

Well, if you were waiting for the best time to buy a home, you may have just missed it. Prices have come down 10-20%, and rates have been at historical lows, where you could get a fixed rate mortgage for under 6%, perhaps even less than 5.75%. In the last week or so, rates have been moved up to 6.5%, perhaps more. So, while you may be buying a house for less than a year ago, your monthly payment may be very similar.

The good news is that rates are still at historic lows and the local market prices seem to be stablizing (especially Renaissance in North Brunswick - man, its hot!), so all is not lost. However, with rising inflation, I'm not sure how much longer the rates will stay where they are before they go up again.

From the Desk of Gloria...

2008-06-06T10:23:00.001-04:00

REAL ESTATE UPDATE 2008

Gloria Zastko and Andrew Zastko,
co-owners of Gloria Zastko, Realtors®
feel that a message was heard…
"The lowest interest rates in over 40
years, stabilized prices, a great
selection of inventory, mega tax
advantages and, of course, historically
proven evidence that the best long
term investment is real estate.
The first 5 months of 2008 prove that
"Affordabillity" in both pricing and
interest rates is the keynote to the
American Dream." The Zastko firm
reported its best May since 2005 and
feels this is a good sign pointing
towards stabilization in the real estate
market. The firm posted over 50 sales
transactions, not including new listings
taken for the month.
Zastko feels, "Barring any unforeseen
obstacles, and if interest rates remain
low and prices remain stable, the
remainder of 2008 should maintain
the status quo," further advising,
"Act now or wish you had!"
Gloria Zastko, founder and a 37-year
veteran in New Jersey Real Estate
cites, "At Gloria Zastko, Realtors®
we don’t just list homes, we sell them.
We know the market, tell the truth,
work hard, work smart and deliver
beyond our client’s expectations".
The firm enjoys a solid reputation in
Central Jersey. The firm is open
seven days a week and is located
on the Route 130 corridor in the
Farrington Plaza in North Brunswick.
It’s web site, www.zastko.com prides
itself as "Everything you want to know
about Real Estate." To reach the firm,
email gloria@zastko.com or call
732-297-0600.

NEW JERSEY DEFIES NATIONAL HOUSING TRENDS: HOME SALES UP 4 PERCENT

2008-05-16T20:10:00.001-04:00

NJAR Press Release - May 13, 2008

(Edison, NJ) Sales volume of existing single-family homes, condominiums and co-ops in the first quarter of 2008 increased 4 percent from the same period last year, indicating New Jersey continues to defy national real estate trends. According to statistics released by the NATIONAL ASSOCIATION OF REALTORS® (NAR) today, New Jersey's seasonally adjusted annual rate of home sales equaled 169,600.

"Unlike most of the nation, the New Jersey housing market remains stable," said 2008 NJAR® President Drew Fishman, CRS. "Nationally, total sales for single family homes, condominiums and co-ops dropped by 22 percent from the previous year, while New Jersey was one of three states to show an increase. This is just further evidence that New Jersey does not follow national real estate trends."

(For the entire article, click below)

http://www.njar.com/pressroom/releases/2008/051308.html

Featured Home of the Week

2008-05-16T00:04:00.005-04:00

This 5 Bedroom, 2 Full Bath Home in North Brunswick just finished getting a complete makeover and is now available! I don't have all the Before and After photos yet, but this should wet your appetite a little bit. It's currently being offered at $319,900, which is a steal at that price! (I don't know where else in North Brunswick you'll find a Remodeled 5 bedroom home at that price.) I'll be doing an Open House there this Sunday, 5/18, 1-4 PM. Feel free to stop by!

How to Pick a Realtor - Disclaimer

2008-05-14T17:28:00.004-04:00

I'm biased. I'll put it out there. I have an opinion, and I'm a Realtor, so I'm biased, but that's ok. I think most people realize that anyway.

When I first started the home buying process (before becoming a Realtor), I had no idea what the process involved, so I asked someone I knew who was a Realtor, who referred me. I didn't know if she was good or not, or even how to tell. In the end, we felt she was pushy and didn't represent our interests well. The following year, we started again, using someone different we knew from our church. He did a good job for us, and we ended up using him for several transactions. However, once again, we didn't even know how to evaluate.

Wouldn't it make sense, though, that if you're making what could be consider the most significant investment of your life, that you'd get the best person available to help you? Similarly, when it comes time to sell your home, shouldn't you use the person whom you can trust to do the best job in selling your home?

I could be wrong, but I don't think people realize there's a difference between Realtors. They figure that everyone is the same. However, as someone on the inside, I can tell you it's far from the truth.

The Inside Scoop #1

2008-05-13T23:38:00.004-04:00

People fall for these. Usually, it's because they don't know any better. So, like the magician who tells all the secrets about his illusions, I'm letting everyone know. Why? I figure people appreciate honesty and integrity, rather than being dooped into something.

Recently, I heard that there are Realtors in Central Jersey who are asking for 6% commission, with 3.5% to them as the listing broker and 2.5% to the Buyers end. (FYI - All commissions in the state of NJ are negotiable. There is no such thing as a standard commission.) The reasoning is to get you to believe that with all those listings out there, their company will push yours more, since you're paying more. Hogwash!

The reality is that whether you pay 2.5% or 3.5%, the listing agent and their company are pushing your listing just as hard. Simple reason is that no matter what the commission, they want to get your home sold. So, they will use every means possible. For example, for Open Houses in the newspaper, are they somehow calling extra attention to homes with higher commission? Absolutely not! How about the Internet? Are they doing anything special for the 3.5% home they aren't for the 2.5% home? I doubt it. In fact, I'd be curious to hear what they'd say if you flipped it on them and asked if they would perform worse for you if you gave them 2.5% instead of 3.5%.

So, all this being said, if an agent and their agency is worth it, you should pay them what is fair. However, don't be tricked into believing that paying them more will somehow get your home sold faster. It just ain't so.

Dual Agency in NJ - Right or Wrong???

2008-05-08T23:45:00.003-04:00

I recently read through a post on Trulia where a seller asked about the pro's and con's of a dual agency agreement. For those who are unaware, in NJ, agents can act in four different ways, depending on who they are advocates for. Principally, people will function as Buyer's agents or Seller's agents, meaning that while they will treat all others fairly, they are working for the best results for whom they represent. In some cases, agents will function as Dual Agents, which means that their real estate agency represents both the buyer and seller. Sometimes, it will be one agent, but most often, it will be two who both happen to work for the same agency. This is legal in the state of NJ as long as there is disclosure and written consent. What ends up happening is that the agent(s) cannot disclosre confidential information that might be helpful to the other party, usually in negotiations. In the end of the day, the agent(s) ends up functioning as a facilitator or mediator.

There seems to be a growing debate on this topic. I may be wrong, be personally, while it's not ideal, I feel it's the best option out there. Granted, you won't get the same kind of representation as you would from a Buyer's or Seller's agent working solely for you. However, without dual agency, losing an agent entirely means you've lost someone whom you've potentially grown to trust, connect with, and perhaps even given confidential information to. More so, that agent may be obligated to use that information against you, because they now represent the other side! (How's that for messed up?)

Is it ideal? No. However, I don't have any better ideas. Anyone else?

Why I Love What I Do!

2008-05-08T23:29:00.002-04:00

I've been out about several times during the past two weeks, trying to find a first home for a couple who's rental house is about to be sold out from under them. Tonight, we may have found the one! Somehow, you can just see the excitement in their eyes as they go from room to room, checking everything out, planning where their furniture is going to go, talking about who they're going to have over first. Sometimes, the hours are late and long, but on nights like these, it's absolutely worth it.

Coolest Wine Bottle Ever!

2008-05-02T22:48:00.001-04:00

Last week, a client of mine brought me a great thank you gift for helping him find a rental. Check it out! It's a Meeker Merlot 2004. I have no idea who thought of this, but this is so cool! You've got hundreds, if not thousands of possible wines to choose from, and perhaps there are others that are a better tasting wine (I haven't opened the bottle, so I'm not really sure...), but the bottle itself truly is a novelty. Perhaps I'll never drink it and just keep it around to show friends. (Maybe free advertising was the intent...)

Thanks Gill!

North Brunswick Transit Village in the Works

2008-05-02T01:25:00.000-04:00

Attended a meeting Wednesday evening surrounding the planned development of the old Johnson and Johnson site off of Rt. 1 across from Aaron Rd. Check out the details at http://ourtowncenter.info/. In short, the plan is to create a community around a train station on this site. Personally, I think it's a great idea for the town as a whole. With the rise of gas prices and congestion in NJ, you'll have an entire community within walking distance to a train station (and probably buses too). They are also planning to preserve a lot of existing open land around the community as well. Finally, it shouldn't be a burden on the school system, because you'll mostly have young professionals in the area, rather than families with several children, who would probably prefer a single family home. It means more tax dollars from homes that don't require public education, which is definitely a win in the area of property taxes!