Smart energy use can be a big opportunity to save money and the best place to start is at home. Every window with a drafty sill and every furnace filter left unchanged eats up energy and wafts money out of your wallet. The good news is that a few simple changes around the home can make a big difference in your energy bill.

But that’s not all, as real estate experts, ERA Absolute Realty in North Brunswick wants its local customers to know that it’s not just the short term where homeowners can see the benefits of making energy efficient changes. This is a time when homebuyers, as well as homeowners, are becoming more conscious of the energy efficiency of a home. Not only can some quick fixes and updates save money while you live in your home, but they can also make your home more attractive to potential buyers when you decide to sell.

It’s up to each household to decide exactly how energy efficient it becomes. There are solutions for every budget. When the average U.S. household spends nearly $1,300 annually on utility bills and an energy efficient home can cut utility bills in half, making some changes is surely worth it. Switching to compact fluorescent light bulbs can save $40 to $60 on electric bills over the course of the bulb’s lifetime. Changing appliances to ones with Energy Star ratings can save money immediately, but can also be a selling point down the road.

To help homeowners save money, live comfortably and attract potential homebuyers, ERA Absolute Realty in North Brunswick offers 15 simple and inexpensive things that can be done today to make a home more energy efficient:

1. Turn off the lights when you leave a room for an extended period.
2. Keep your thermostat set around 78 degrees in the summer, 68 degrees in the winter.
3. Caulk, seal and weatherstrip all seams, cracks, outlets on outside walls and openings to the outside. For example, fireplaces can be a big energy leak so check dampers and screens to make sure warm air isn’t escaping when the fireplace isn’t in use. Consider installing an energy-saving firebox to help circulate heat. If the fireplace is just for decoration, cover the chimney.
4. Wrap insulation around heating ducts and hot water pipes that run through basements, crawl spaces and other unheated areas.
5. Add extra insulation to your hot water heater (Note: Do not block heater vents!)
6. Change the filters on your heating and air conditioning systems according to the manufacturer’s recommendations.
7. Contact your local utility company about an energy audit and tips to increase energy efficiency.
8. Whenever you replace an appliance, choose energy efficient options such as those with the Energy Star rating (www.energystar.gov).
9. Use water efficient products to help conserve the world’s water supply and lower your water bill. Look for the EPA’s WaterSense label (www.epa.gov/watersense) on toilets, faucets, and showerheads. To save energy and money with your current toilets, faucets and showerheads, check for leaks. Fortunately, they’re easy to fix with a do-it-yourself book. Toilet tank water-savers can mean significant dollar savings, too.
10. To help your home systems and appliances do their jobs, change filters on heating and air conditioning systems yearly and keep operating parts oiled.
11. Purchase household supplies made with recycled materials; use greener “post-consumer waste” products like stationery, packaging materials, paper towels and other supplies.
12. Follow the recycling program in your community.
13. Encourage carpooling and telecommuting whenever possible.
14. Get in the habit of doing business and paying bills online via email and Internet banking sites.
15. Use the EPA’s GreenScaping practices to reduce waste, conserve water, and save energy around your lawn and garden. Visit www.epa.gov for details.

In addition to the yearlong sponsorship of Ask This Old House, ERA Absolute Realty in North Brunswick has launched the Make a Change. Make a Difference. campaign to help the community make small changes that can make big differences. After all, making a home more comfortable and efficient doesn’t have to take a great deal of time and can actually save money.

To discover more ways to Make a Change. Make a Difference. in your home and community, visit www.era.com/ask, or contact me directly at Office@AbsoluteERA.com.

About ERA Absolute Realty in North Brunswick

To learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611 or visit www.HomesOFNJ.com. 

The Lauri family founded ERA Absolute Realty in 1998 and had 6 sales executives serving only Middlesex County.  In 2001 the company brought on some additional executive staff with the additions of partners Scott Lauri and Arthur Lauri III.  Now ERA Absolute Realty has over 30 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties.  To visit with one of the sales executives at ERA Absolute Realty visit online at www.HomesOFNJ.com or call at 732-220-6611.

If a dispute arises, the outcome will be governed by how the contracts actually read, not what you thought your real estate agent told you when you signed them. To avoid confusion, it is a good idea to pick up copies of the purchase agreements and closing papers ahead of time. This will allow you to read them at your leisure, without the pressure of several people waiting for you to read everything at the closing. Don’t hesitate ask questions if you don’t understand something or if the language is ambiguous or confusing.

You may find that trying to sell your own home in order to save the brokerage fee is false economy. Real estate sales are complicated, and a slight variation in language can sometimes cost you a sale and/or a lot of money. Many of our listings came from sellers who thought their homes were sold, only to lose the buyers at the last minute–on a technicality!
Read this online and get more information: Understanding The Contract

As important a landmark as buying a home is in people’s lives, you’d be surprised at how much of it can turn on snap decisions. If you’re selling a house you’ll have to put careful thought into buyers’ first impressions, because many sales will be made or lost before they reach the front door - or as soon as they walk through it. And many of the most important things you can do cost very little and can even bring a return on your investment.

First consider “curb appeal” - trimmed shrubs, new flowers - puts your prospective buyers in just the right frame of mind. The feeling customers get from the upkeep of the building and grounds helps them to easily imagine themselves as a resident. You want to do everything you can to make them see your property as their house, both outside and in.

Fresh, neutral paint is well worth the investment. Kitchens and bathrooms should be in sparkling condition - these rooms often make up the minds of many home-seekers. Odors like pet smells and cigarette smoke could distract a potential buyer, so make sure that your property smells fresh and clean. 

One of the most important things to do before showing your home is to clear out the clutter. The fewer items you have crowding your rooms and closets, the bigger your property will appear, and the easier it will be for potential buyers to envision placing their own possessions there. Remove personal effects such as family photos, children’s artwork and collectibles. Put some items in storage or hold a garage sale to make a little money during the de-cluttering process.

Buyers should feel as if they are entering what could be their own home, not intruding on the personal space of someone else. That means striving to have your home look like a model home - decorating your property with a neutral décor in a neutral color palette. Repainting rooms in a neutral color also helps convey a sense of spaciousness.

Clean windows, fresh flowers and other small changes can make a big difference in what the homebuyer sees - and remembers. From major improvements, which guarantee a return on your investment, to subtle touches that tip the scales in your favor, the features of a house that we often take for granted can be the ones that determine your homeselling success.

A little effort up front can save you a lot of time on the market. Good first impressions can help your property sell faster. That’s why ERA Absolute Realty in North Brunswick participates in the ERA® Gold Star Property program that helps sellers make the most of their properties and helps assure buyers that the Gold Star Property listings they see are move-in ready.

As part of the ERA Real Estate Make a Change. Make a Difference. campaign launched as a complement to the yearlong sponsorship of “do-it-yourself” home improvement icon Ask This Old House, ERA Absolute Realty in North Brunswick wants you to know that small changes made now can result in a big difference in your future. After all, making a property more appealing doesn’t have to take a great deal of your time or money, and can help it sell faster.

To discover more ways to Make a Change. Make a Difference. in your home and community, visit www.ERA.com/Ask, or contact me directly at Office@AbsoluteERA.com to learn more about ERA Gold Star Property and preparing your home for sale.

About ERA Absolute Realty in North Brunswick

To learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611 or visit www.HomesOFNJ.com. The Lauri family founded ERA Absolute Realty in 1998 and had 6 sales executives serving only Middlesex County.  In 2001 the company brought on some additional executive staff with the additions of partners Scott Lauri and Arthur Lauri III.  Now ERA Absolute Realty has over 30 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties.  To visit with one of the sales executives at ERA Absolute Realty visit online at www.HomesOFNJ.com or call at 732-220-6611.

Before your house is shown, walk through each room with an eye to creating a pleasant ambiance through lighting. Accentuate the natural light by keeping curtains open and windows sparkling clean. Arrange your furniture to take advantage of the best view. You may want to install indirect lighting to highlight a vaulted ceiling or to draw attention to indoor plants. Dimmer switches can create simple and inexpensive lighting appeal. Place a lamp and table arrangement in a dark alcove or corner to brighten up the area.
Read this online and get more information: Lighting Up the Sale

http://realtytimes.com/125/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Five Ways to Wow Buyers”;
“Where Housing is Headed”;
“What You Need to Know to Buy a Home Today”;
“Investor Report: Refinancings”;
“Seller’s Home Appeal for Today’s Market”;

Plus a roundup of March real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

If you do not wish to receive this Newsletter each month, please reply to this e-mail with the word ‘REMOVE’ in the subject line.

Sincerely,
Scott Lauri

It is difficult to get a buyer excited about your home if he or she is sneezing continuously or unwilling to cross the threshold because your dog is barking away intruders. If your agent knows there might be a problem, they can arrange ahead of time for you to walk the dog, vacuum the cat dander or do whatever is necessary to make sure that the showing goes smoothly.
Read this online and get more information: Houses and Pets

ERA Real Estate and the Muscular Dystrophy Association (MDA) have created the Home Grown Hero program, an online fundraiser that makes it easier than ever for you to help support this worthy cause. The Home Grown Hero program gives all ERA® members the opportunity to participate in the network’s fundraising activities for MDA on an individual basis.

“Dolores and Sandra’s commitment to making difference for this worthly cause is inspiring,” remarked Scott Lauri, Broker/Owner with ERA Absolute Realty. “By using the latest technologies, Dolores and Sandra were able to collect more donation than many others.”

To learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611 or visit www.HomesOFNJ.com.

The Lauri family founded ERA Absolute Realty in 1997 and had 6 sales executives serving only Middlesex County. Now ERA Absolute Realty has over 45 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties with two offices in North Brunswick and Monroe Township. To visit with one of the sales executives at ERA Absolute Realty visit online at www.HomesOFNJ.com or call at 732-220-6611 (North Brunswick) or 609-409-5959 (Monroe Twp).

Pictured Above Left to Right, Dolores Christmas, Abby Umali (2009 MDA National Goodwill Ambassador), Bradley Walker (2007 International Bluegrass   Singer)

It may not take many concessions on your part to make the transaction work if the people who love your house also love to bargain. Even though it may seem that you are far apart in dollar amount or terms of sale, the real distance may not be all that great. Your real estate agent can help you determine if the buyers are ready, willing and able to carry through with the transaction. If they are qualified, the next step involves evaluating your differences. Look for areas where you have some flexibility to negotiate. You may have to go back and forth several times in order to make the transaction work. The trick is to be patient and to not take the process personally!
Read this online and get more information: Bargaining

Real estate agents are a good source of information about loans and lenders, whether you are buying a home or just refinancing your present home. We routinely assist buyers when they need a mortgage in order to purchase a home. We know what loan packages are available and the qualifying requirements. The companies with the lowest rates sometimes have very conservative underwriting guidelines, and may not be willing to make loans on certain types of property or to buyers who are marginally qualified. We can tell you which companies and loan officers will go the extra mile to provide excellent service to make sure that the transaction closes.
Read this online and get more information: Choosing A Lender

Buying an older home at a bargain price, then re-selling when it is renovated and restored can be an enjoyable and lucrative adventure.
Read this online and get more information: A Home With a History

To learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611 or visit www.HomesOFNJ.com.

The theme of the conference was “Shaping Tomorrow” in effort to celebrate accomplishments, network, share ideas, learn about the latest tools and technology to grow the business, and enjoy the company of fellow peers. “Shaping Tomorrow” attendees cheered on teammates, encouraged one another to reach new goals, and supported each other in building a stronger future.

The keynote speaker for the event was Suze Orman, two-time Emmy Award and five-time Gracie Allen Award-winning television host, New York Times bestselling author, magazine and online columnist, writer/producer, and motivational speaker. She addressed the conference at the general session held on March 7th.  Ms. Orman Said, “Real Estate is the best investment available out there.”

Convention attendees from ERA Absolute Realty in North Brunswick included: Dolores Christmas and Ya Mei Tong.  Dolores and Ya Mei also took the time to take a National Association of Realtors certification course Accredited Buyers Representative (ABR) while at the convention.

“This year we will look to the future and focus on Shaping Tomorrow.” said Brenda W. Casserly, President & Chief Executive Officer, ERA Real Estate, “This theme reminds us that the steps we take today are an investment in the future of our business

For more information on ERA Absolute Realty, please contact Scott Lauri at 732-220-6611.

To learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611 or visit www.HomesOFNJ.com. The Lauri family founded ERA Absolute Realty in 1997 and had 6 sales executives serving only Middlesex County.  In 2001 the company brought on some additional executive staff with the additions of partners Scott Lauri and Arthur Lauri III.  Now ERA Absolute Realty has over 30 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties.  To visit with one of the sales executives at ERA Absolute Realty visit online at www.HomesOFNJ.com or call at 732-220-6611.

Key Points:

• ERA Real Estate updates and expands Web site, ERA.com, to include new personalized search capabilities for homebuyers and homesellers
• ERA.com is a leading global resource for national and international real estate listings
• New search capabilities and intuitive controls allow ERA Real Estate to connect with today’s active consumers throughout all stages of homeownership 

“A key design goal of ERA.com has always been to position the site as the global real estate portal,” said Scott Lauri, Broker/Owner of ERA Absolute Realty in North Brunswick, NJ. “ERA.com has become an essential real estate resource, as advances in Web technology now make it possible to pinpoint and cater to individual consumers’ unique wants and needs. By offering personalized search capabilities and intuitive controls, the new site allows us to better connect with today’s active consumers throughout all stages of homeownership.”

Expanding on the site’s reputation as an innovative global resource for real estate customers, the new ERA.com offers access to more than 3 million national and international listings, including a full inventory of properties from the Multiple Listing Service (MLS), as well as enhanced capability to locate both commercial and rental properties.

“Representing millions of properties in neighborhoods around the world, ERA.com and the worldwide network of ERA are better positioned to provide customers with the highest level of service before, during and after the sale of a property,” added Scott Lauri.

Other new features include:

• Intuitive controls for easier navigation
• RSS property feeds
• Automatic currency conversion for international buyers

“The greatly expanded scope of listings available through the new ERA.com, as well as the advanced navigational and search features of the site are indicative of ERA Real Estate’s in-depth understanding of the needs of the global real estate buyer and seller, leading to innovative solutions that meet or exceed their expectations,” Martin Smith said.

To personally experience the unique features of the new ERA Web site, visit ERA.com.

The Lauri family founded ERA Absolute Realty in 1998 and had 6 sales executives serving only Middlesex County.  In 2001 the company brought on some additional executive staff with the additions of partners Scott Lauri and Arthur Lauri III.  Now ERA Absolute Realty has over 30 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties.  To visit with one of the sales executives at ERA Absolute Realty visit online at www.HomesOFNJ.com or call at 732-220-6611.

http://realtytimes.com/124/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Details Of The Recovery and Reinvestment Act of 2009″;
“Why Buy a Home Now”;
“Mortgages That Survived The Credit Crunch”;
“The Ripple Effect of The Non-Repayable Tax Credit”;
“The Incentive for Greening American Homes”;
“It’s a Good Time To Remodel”;

Plus a roundup of February real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

If you do not wish to receive this Newsletter each month, please reply to this e-mail with the word ‘REMOVE’ in the subject line.

Sincerely,
Scott Lauri

North Brunswick, NJ, March 2, 2009 — Individuals and couples contemplating the purchase of their first home have an opportunity to take advantage of a federal income tax credit that can help put them in the home of their dreams - and the incentive even more attractive than before, noted Scott Lauri, Broker/Owner of ERA Absolute Realty in North Brunswick.

“The American Recovery and Reinvestment Act modified the existing, temporary federal income tax credit for qualified first-time homebuyers,” Scott said, “and for those who qualify, the changes to this incentive make it even more valuable. The incentive has been extended, but it won’t last forever; for those considering home ownership, 2009 is proving to be a unique and compelling opportunity.”

In this version of the tax credit, qualified “first-time” buyer - defined as an individual who has not owned a home during the past three years - can receive a federal tax credit of 10 percent of the cost of their principal residence, up to a maximum credit of $8,000. Buyers receive a tax credit (in essence, an interest-free loan) on their personal income tax return in the calendar year following the year of closing on their home.
 
Unlike the previously available tax credit, the modified version does not require homebuyers to repay the credit as long as they retain ownership of the home, as their primary residence, for three years. This incentive is also retroactive covering homes purchased on or after January 1, 2009.

“This temporary tax credit provides one more sound reason for first-time buyers to take advantage of today’s attractive interest rates and ample inventory of homes, as well as save on their federal taxes,” Scott said. “The benefits are significant. For example, if a home costs $65,000, the allowable credit is $6,500. For a home that’s purchased for $120,000, the allowable credit is $8,000.”

Scott cautions that although the incentive has been extended, it is only temporary. To be eligible for the tax credit, qualified first-time buyers must purchase and reside in the principal residence before December 1, 2009. Other eligibility requirements must be met to receive the credit, Scott noted, including income limits. Individuals who exceed the limit may be eligible for a partial credit. Buyers should seek advice from a professional tax advisor for specific tax calculations.

To find out more about the American Recovery and Reinvestment Act temporary federal income tax credit for first-time homebuyers and whether it may be available to you, contact your tax professional or legal adviser; and contact Scott Lauri of ERA Absolute Realty in North Brunswick at Office@AbsoluteERA.com or 732-220-6611 to find your new home.

About ERA Absolute Realty in North Brunswick
The Lauri family founded ERA Absolute Realty in 1998 and had 6 sales executives serving only Middlesex County. In 2001 the company brought on some additional executive staff with the additions of partners Scott Lauri and Arthur Lauri III. Now ERA Absolute Realty has over 30 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties. learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611 or visit www.HomesOFNJ.com.

In most transactions, the seller will take care of the repairs. Many sellers wait until the week before the closing to call someone to do the work, because they want to be sure that they are going to make it to the closing table before they spend money on repair work. If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs.
Read this online and get more information: Handle Needed Repairs Early

The most familiar type of easement is easement appurtment that allows access to public roads and is used to create driveways and walkways for subdivided parcels. This type of easement should be treated by both landowners (and beneficiaries) as actual land parcels to be described and recorded meticulously.

It is important for you as a prospective buyer to be as clear as possible about your needs. After we have talked and you have decided how much you can comfortably spend, we will know how to facilitate your home search. We won’t take you through a three-story colonial with a top floor master suite if you want to avoid climbing up and down stairs! Establishing clear communication with our clients helps us save you hours of unfocused house hunting.
Read this online and get more information: A Good Start

To Unlock America’s Economy it is imperative that Congress take action and restore consumer confidence in homeownership. We are calling on Congress to stabilize housing and real estate by making affordable mortgages available and stemming foreclosures. Housing has always lifted our economy out of past economic downturns. Revitalizing the housing market is the solution once again.  

As REALTORS, we must all come together and must make our united voice heard in Capitol Hill. Please contact Congress today.  Goto http://takeaction.realtoractioncenter.com/campaign/2009stimulus to get your voice heard.

If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don’t be discouraged by higher rates–use them to your advantage.
Read this online and get more information: When Interest Rates Rise

http://realtytimes.com/123/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Real Estate Outlook: What’s in Store for 2009?”;
“Buy Now And Beat The Spring Rush”;
“Is A Mortgage Modification For You?”;
“Clutter-Free Helps Sell Homes”;
“Good Time To Buy A Vacation Home”;
“Repairs That Help Sell Your Home”;

Plus a roundup of January real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

An investment in attractive landscaping can help your home sell more quickly. If you have a moderately green thumb, you can get a lot of free advice from local nurseries. They can give you tips on what will look good in your yard, considering the time of year, the available light, and the type of plants that do well in the area. You will probably be able to choose from many attractive low-maintenance plants that will add color and vitality to your yard. Whatever the season, a few dollars invested in your front yard will usually reap much greater benefits than your original investment.
Read this online and get more information: Land Lovers

Historically, real estate has been a superb long-term investment. Many people have created fortunes on short-term investments in hot markets. Remember that the local market will be influenced by factors beyond your control, such as interest rates, economic trends, local employment opportunities, and the demand for and availability of rental housing. All of these factors are subject to change, so timing is crucial. A slow market can mean real values for buyers, but a fast market could heat up for several years, pricing timid buyers out of the market. Your real estate agent can’t predict the future, but he or she can help you interpret the present.
Read this online and get more information: Investment Strategy

The real estate agent who lists your home works to get it sold. This is done by marketing directly to home buyers, but an even more powerful tool is marketing your home to other agents who have buyers. Your real estate agent makes all the crucial information about your home available to the other members through the MLS. Information such as your home’s location, size, the number of rooms, the style of architecture, what personal property is included, and any other special features is posted. The MLS description will also contain information about any special financing that might be available, showing instructions, and special needs you may have with respect to closing. The MLS is a powerful tool for real estate matchmakers.
Read this online and get more information: Multiple Listing Service

If you have just purchased a home, be aware–and wary–when those credit card applications start pouring in!
Read this online and get more information: Credit Card Traps

http://realtytimes.com/122/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Quick! Take That Low-Interest-Rate Holiday”;
“What’s In, What’s Out with Home Buyers in 2009?”;
“Fix Housing First Coalition Seeks To Revive Economy”;
“The Open House Show”;
“No Place Like Home For Savings”;
“Don’t Miss Tax Deductions On Your Real Estate Investment”;

Plus a roundup of December real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

Overall buyer appeal should be your main consideration even when you are remodeling for your own enjoyment. You should also consider whether you could recover your expenses if you were to sell the house soon because personal circumstances or career opportunities can create unexpected changes in your housing needs.
Read this online and get more information: Professional Advice

If you are considering painting, updating the kitchen, landscaping, or making any other improvements that will increase your home’s re-sale value, think about making those improvements while you are still there to enjoy them. Create your own dream kitchen, master suite or spa, build an outdoor living room or restore your wood floors now. Improving your property will make your home more enjoyable, help maintain the property values in your neighborhood, and expedite the sale of your home when you are ready for a move.
Read this online and get more information: Upgrade Before You Sell

A dark house is not as appealing to most buyers as one that is flooded with light. As a part of your preparations to market your home, try to maximize the light in your home. Make sure that all the windows are clean and the drapes are open when the house is being shown. A fresh coat of light paint can do a lot to brighten up the interior. If your house has very dark paneling, and you do not wish to repaint the walls, you may want to consider adding additional lamps. Your real estate agent may be able to provide other simple and cost-effective ideas about how to maximize your home’s appeal.
Read this online and get more information: Brighter is Better

Your real estate agent can go over all of these factors with you when you list your home for sale and again as offers come in.
Read this online and get more information: Net Sheet for Sellers

A real estate agent’s job is diverse, and the best agents are excellent sources of information. Each day, real estate agent’s are actively involved with mortgage lenders, attorneys, surveyors and taxing authorities, discussing the latest developments in our ever-changing marketplace. Finding the right real estate agent is like finding the right physician. The help of a professional can help satisfy your curiosity. Call or email with your real estate questions.
Read this online and get more information: Are You Curious

It is natural to feel some pressure from even the most easy-going real estate agent–and some uncertainty about making an offer. If you really like a house, there is always the possibility that someone else will share your enthusiasm for it. Whether your local market is active or sluggish, it is sensible to assume that another offer is likely to come in. Perhaps you can afford to “sleep on it”, but moving as quickly as possible will minimize the possibility that the house will go to another buyer.
Read this online and get more information: A Matter of Timing

Eliminating maintenance as a potential issue in the sale can help you ensure that the transaction goes as smoothly as possible. This is especially important when there is active construction of brand-new homes in the area.
Read this online and get more information: Deal with the Defects

You will probably be able to deduct the costs of your move if your new work location means more than an additional 50-mile commute, if you move within a year of taking the job at the new location, and if you work full-time for at least 39 weeks (the total is 78 weeks if you are self-employed). You should keep meticulous records of all of your expenses and consult a tax expert to make sure that you take all the lawful tax deductions allowed by the IRS criteria for expenses related to selling your old home or buying your new one. The IRS publication No. 521 entitled “Tax Information on Moving Expenses” makes good reading before you make a move.
Read this online and get more information: Moving And Taxes

When buyers are deciding which houses deserve serious consideration, any kind of water problem may appear to be much more detrimental than it really is. The sellers may regard a damp basement as simply a sign that it’s time to clean the gutters or check the soil buildup around the house or a leaking roof as a call for new flashing. But to someone who has never owned a home, these defects can be taken as signs that the house may not fulfill their primary need for shelter from “the elements.” Renters may be perfectly willing to live in a home with minor water problems, but buyers are likely to pass up the same house if they think it won’t keep them perfectly dry.

http://realtytimes.com/120/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Smaller Homeowner Relief Already In Place”;
“Good News for Qualified Buyers”;
“Credit Unions To The Rescue”;
“Finding Discounted Homes For Sale”;
“FHA Still Going Strong”;
“Investor Report: Bailout to Aid Investors”;

Plus a roundup of October real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

Before you feel offended, however, remember that the first offer is often just the beginning of a negotiating process. Your agent can help you weigh the good and bad points, evaluating the price in relationship to the terms or conditions of the sale. Sometimes an offer with a low price can look quite attractive once you understand all of the terms. If you are willing to make some compromises, the buyers may accept a counter offer that will give you more money. A lower price from highly qualified buyers may be better than one from people who may have difficulties with financing. Keep in mind that your first negotiated price is often your best price!

 A groundbreaking ceremony will be held on Saturday Oct 25th at 12:30 and the baseball/softball field just off Elkins road in Milltown.

North Brunswick, NJ (Grassroots Newswire) October 20, 2008 - As stewards of the real estate industry, it is our goal and obligation to identify new trends that impact our business and respond with the appropriate tools to better service our customers.  After analyzing the facts about text messaging, ERA Absolute Realty has responded with TXT ERA a high-tech solution to keep consumers better informed.

It seems like only yesterday that text messaging was solely the shorthand communication medium of choice for perpetually chatting teenagers in classrooms and shopping malls, and an impenetrable secret code to bewildered adults. That stereotype is disappearing faster than you can type TTYL - texting shorthand for “talk to you later.”

Dramatic Growth
Our consumers are text messaging more than ever. In the U.S. alone, 12 million text messages were sent in June 2000, the first year that text messaging became generally available here.  By June 2007, the number of text messages sent had jumped 2,000 fold, to 24 billion. Just eight months later, communications giant Verizon reported handling a record 20 billion text messages in a single month.

What’s Behind the Buzz?
What’s the explanation for the increase in texting? One reason is the nature of the technology. Because text messages are brief and take up little communications bandwidth, they often get through quicker and more reliably than voice calls, earning their reputation for “instant” communication in an increasingly fast-paced, transaction-oriented world.

Another reason is the explosive increase in wireless access. There are over 250 million wireless subscribers in the U.S., an increase of more than 350 percent over the last decade. In addition, people in every age demographic are discovering the advantages of sending text messages in an expanding universe of applications for short, inexpensive, virtually instantaneous communication.

Expanding Demographics
A large demographic portion of the real estate industry is becoming attracted to this form of communication.  Although the shorthand language of instant messaging and texting - like LOL for “laugh out loud” and IDK for “I don’t know” - somewhat delayed its adoption by older generations, they’re beginning to make up for lost time. Text messaging by people age 45 - 54 grew 130 percent during the period between 2006 and 2007.

A breakdown of texting by age group shows that about 58 percent of people age 18 - 24 currently text, about 46 percent of people age 25 - 34, and over 28 percent of people age 35 - 54. Overall, text messaging volumes are projected to increase six fold between 2007 and 2009.

Reaching Out to Customers with Text Messaging
Perhaps the biggest drivers of growth in texting among people of all ages are the ways in which business and entertainment organizations have adopted text messaging technology to bring new levels of convenience and interactivity to consumers. Bill payment notifications, updates from customer support services and reminders for patients to take critical medications are just a few.

The business applications of texting can be fun and entertaining, too. Just ask anyone who’s texted their vote for their favorite American Idol contestant or helped chose the performer featured on the Today Show last July 4th.

TXT ERA Brings the Convenience of Texting to Real Estate
As a real estate professional, I make it a point to keep up-to-date on technology tools and trends that can benefit my clients. Fortunately, ERA Real Estate stays on top of things in this increasingly technology driven world by offering services like the TXT ERA program and ERA.com Mobile, a version of ERA.com designed specifically to be accessible from your web-capable device to give you access to listings no matter where you go.

TXT ERA uses text messaging technology to deliver valuable property information directly to your cell phone or other text-capable device. Imagine driving down the street, noticing a home for sale and quickly receiving property information without ever leaving your car. Simply send a text message to TXTERA (898372) with the Express Listing number you see on the ERA yard sign. In an instant you’ll receive a return message with the essential property information.

But you don’t have to wait until you see a home you like to begin using TXT ERA. Visit the MyERA.com section of ERA.com, enter your cell phone number and property search criteria and begin receiving customized alerts. ERA.com automatically notifies you, via text message, of any new listings that match your saved search criteria.

TXT ERA combines with ERA.com Mobile to make ERA Real Estate the first choice for mobile technology within our industry. They are just two reasons why I choose to be affiliated with the ERA Real Estate brand. ERA Real Estate has always been a leader in putting technology to work to help me help you meet your real estate goals in a way that fits your lifestyle.

For more information about TXT ERA and ERA.com Mobile, please visit ERA.com, or contact me directly at Office@AbsoluteERA.com.

About ERA Franchise Systems LLC
ERA Franchise Systems LLC is a global leader in the residential real estate industry with more than 30 years experience in developing consumer-oriented products and services. Since 1977, ERA Real Estate has teamed with the Muscular Dystrophy Association in its fight against neuromuscular diseases, raising more than $30 million. The ERA network includes more than 35,000 brokers and sales associates and approximately 2,850 offices throughout the United States and 49 other countries and territories. Each office is independently owned and operated. ERA Franchise Systems LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. ERA Franchise Systems LLC information is available at: ERA.com.

North Brunswick, NJ (Grassroots Newswire) October 9, 2008 — Moving can be a traumatic experience for some children. Leaving the friends and the home they’ve known and moving to a new home in a new neighborhood can be a stressful time for both children and parents. Including your children in the home buying process can help alleviate the stressful feelings they may experience during a move.

Working with a real estate agent who understands the needs of families can make a big difference in how you and your children experience buying a home. “Many of us here are parents and know just how stressful the moving process can be on the entire family,” said Scott Lauri of ERA Absolute Realty. “It is our job as real estate professionals to address the needs of every one of our customers, regardless of age. ERA Real Estate has many unique tools to help the entire family navigate the home buying process together.”

ERA Absolute Realty offers the following tips for making the home buying process a smooth one for the whole family: 

1. Inform your children early about the move - giving them information at the beginning will make the process less stressful. Tell your children when you plan to put the house on the market, when and why you want to move, where you would like to go, etc. The process can be a long and arduous one, so update them regularly and keep them involved. Let them know when your house will be shown; bring them along for a walk-through of the houses you are seriously considering; tell them about the closing process when you are confident the home will become yours; and have them join you for the inspection or any other milestone activities, if appropriate. 

2. Take your children on a tour of the neighborhoods you are considering - getting their input can make them feel involved in the process. Include schools, local parks and other recreational areas as part of the tour so they can get a sense of where they might participate in extracurricular activities. Listen to, and address, their input and concerns.

3. Engage even young children in the process - providing age appropriate activities that are related to buying a home will help them become comfortable with the process. To do just that, ERA Real Estate, has introduced ERA Kids, a Web based interactive application on ERA.com that engages even the youngest members of the family. The program features downloadable coloring and sticker books and online interactive programs. One portion of the program uses images of homes on the market to create line drawings that can be used in the unique “Paint Your House” tool. Children are able to “paint” the potential homes that their parents are considering, using their computer.

4. Educate your children about the home buying process - understanding the process can make it seem less overwhelming. Introduce them to your real estate agent and show them the real estate agent’s office. Explain how the process works between the buyers and sellers. Tailor the information to the child’s age: older children can benefit from the opportunity to learn about mortgages, interest rates, inspections, etc.

5. Have fun - A move is a great time to let your child’s personality shine through! When you are considering a home, you and your children can use the ERA Floor Plan tool on ERA.com to develop the perfect room layouts for your family. Once moved in, allow them to help decorate their new room and play area or give them a chance to participate in choosing new furniture and in making other interior design decisions. 

The Lauri family founded ERA Absolute Realty in 1998 and had 6 sales executives serving only Middlesex County. In 2001 the company brought on some additional executive staff with the additions of partners Scott Lauri and Arthur Lauri III. Now ERA Absolute Realty has over 30 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties. learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611 or visit www.HomesOFNJ.com.

About ERA Franchise Systems LLC
ERA Franchise Systems LLC is a global leader in the residential real estate industry with more than 30 years experience in developing consumer-oriented products and services. Since 1977, ERA Real Estate has teamed with the Muscular Dystrophy Association in its fight against neuromuscular diseases, raising more than $30 million. The ERA network includes more than 35,000 brokers and sales associates and approximately 2,850 offices throughout the United States and 49 other countries and territories. Each office is independently owned and operated. ERA Franchise Systems LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. ERA Franchise Systems LLC information is available at: ERA.com.

http://realtytimes.com/119/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Five Key Areas to Pay Attention to When Buying a Home”;
“Deploy A Strategic Assault On Your Mortgage Application”;
“Too Much To Store and Too Little Space”;
“Finding Discounted Homes For Sale”;
“Ten Fall Maintenance Tips”;
“Understanding Your Electrical System Can Help You Spot Problem Areas”;

Plus a roundup of September real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

http://realtytimes.com/118/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“What the Housing and Economic Recovery Act of 2008 Means for You”;
“Moving Away From Heavy Gasoline Use”;
“New Fed Rules To Prevent Future Runs on Bad Loans”;
“Open The Doors And Buyers Shall Come — But Prepare First!”;
“Investor Report: Hidden Tax Pitfall”;
“Don’t Overlook The Garage When Getting Your Home Ready To Sell”;

Plus a roundup of August real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, or if you would like to see a certain topic covered in future months, let me know that too!

When you purchase a home, you can take advantage of a number of lucrative tax benefits, thereby cutting the real cost of homeownership. Getting to know your tax advantages, and keeping track of home improvements, will pay off handsomely in the long run.

Mortgage Interest

For home mortgages totaling up to $1 million, taxpayers are allowed to deduct their annual mortgage interest payments from their income. Homeowners are allowed to deduct mortgage interest for primary residences, vacation homes and rental properties, one way or another.

For your primary residence, of course, interest payments are fully deductible under the $1 million mortgage limit. Your mortgage company will send you a statement at the first of the year showing the total interest paid during the previous year. If you’re in the 15% tax bracket, a mortgage interest payment of $8,000 for the year would reduce your taxes by $1,200. The savings would be $2,200 if you fall into the new 27.5% bracket.

For rental properties, interest payments are counted as part of deductible rent expenses. If an overall loss results because total rent expenses (including interest expense) exceed rent income, the loss is deductible against other income such as wages, but only up to $25,000 in losses. The property owner must be an active participant to qualify and the $25,000 amount is reduced when total income goes over $100,000.

For vacation homes, overall losses are not deductible, but all mortgage interest and property taxes are deductible, either as rent expenses or as additional itemized deductions. A residence is a vacation home if it was used personally more than 14 days or 10% of the days it was rented (if rented more than 140 days).

On home equity loans (loans secured by a primary or second home), interest is fully deductible for loans up to $100,000, regardless of how the proceeds are used. When added to other debt secured by the residence, the total cannot exceed the fair market value of the property. (In other words, you can’t deduct all the interest on a 125% loan-to-value mortgage.)

Property Taxes

In addition to mortgage interest, homeowners also get to deduct property taxes from their income on annual federal returns. You’ll receive a statement of property taxes paid from your lender early in the year. If you purchase a home this year, check your settlement papers when completing your return next year to see if you paid prorated taxes, which would be a deductible item.

Loan Points

Don’t forget to deduct any loan discount points that may have been paid at settlement — by you or the seller. You can deduct loan discount fees in the year you paid for financing to purchase a home, as long as you intend to occupy the residence.

A point equals 1% of the amount of the loan, i.e., one point would equal $1,000 on a $100,000 loan. (Be careful not to confuse loan discount points with mortgage service fees that are sometimes expressed as points — mortgage service fees are not deductible.)

Even if the seller pays the points, you can still claim the deduction. If you choose this alternative, however, you must reduce the cost basis of the property (discussed later) by the deducted amount when you sell the home. However, with current capital gain exclusion levels — $250,000 (single filers), $500,000 (married, filing jointly) — the basis reduction will usually have no tax effect.

Points Paid At Refinancing

Should you ever refinance your home, the rules for deducting discount points are different. In this case, you may not deduct the points in full the year you refinance your home. Instead, you must amortize them over the life of the loan. For instance, if you refinanced to a 20-year loan and paid $1,000 in points, you would deduct 1/20 of the points ($50) for each year of the term of the loan. (Note: If the home is refinanced again or sold, the remaining balance of points from the earlier refinancing is fully deductible.)

If any of the funds from the refinanced loan are used for home improvement, the percentage of the points paid for the part of the funds used for improvements may be deducted in full in the refinance year.

Track Home Improvements

It may be difficult to focus on selling a home when you’re just purchasing one, but you should be vigilant about keeping financial records related to your home from the outset. Bear in mind that when you sell your home, you could have a capital gains tax liability on your home-sale profits. Keeping track of your purchase and improvement costs will help reduce (or eliminate) your tax bill at sale time.

Capital gains. The profit you make when selling a home qualifies as a “capital gain.” Uncle Sam may be able to get a some of those gains if they exceed exclusion limits or you don’t meet the “time and use” tests.

Currently, you can exclude from taxable income home-sale profits up to $500,000 (for married taxpayers) or $250,000 (for singles). There are, however, a few rules:

You must have owned the home for at least two of the five years prior to the sale.

You must have used the home as your principal residence for a total of two of the previous five years. Any two years qualify, including intermittent, non-consecutive periods of time.

You must wait two years between home sales that claim the exclusion.
If you must sell a principal residence before the two-year qualification is met due to a change in place of employment, health, or unforeseen circumstances, you may take a prorated portion of the exclusion. (Consult with a tax professional if this applies to you.)

To compute your capital gain, you must first know your home’s “basis value” — your costs to acquire the home plus or minus any “adjustments.”

Acquisition Costs. The starting point of your home’s basis value is the price you paid for it. But purchasing costs also include most settlement or closing costs you paid, such as fees for title insurance, legal service, recording fees, surveys, transfer taxes, abstract of title, and more. You cannot, however, include fire insurance premiums, rent to occupy the home prior to settlement, mortgage insurance premiums or loan-acquisition costs (such as discount points or credit reports). Nor can you include escrowed amounts for future payment of taxes or insurance.

Adjustments To Basis. You may add certain items to your home’s cost basis and you must subtract certain other items from it. The higher the basis value, the lower your capital gains tax liability will be.

Increases to basis include: the cost of “capital” improvements to your home (e.g., putting on an addition, replacing the entire roof, paving the driveway, installing air conditioning, etc., but not home maintenance or repair expenses); assessments for local improvements; amounts spent to restore damaged property.

Items that decrease your basis include: insurance reimbursement for casualty losses; deductible casualty loss not covered by insurance; payment received for granting an easement or right-of-way; depreciation deduction for use of your home for business or as a rental property; value of energy conservation subsidy; points paid by the seller; gains deferred on sale of a home before May 7, 1997.

For detailed information on these basis issues, consult a tax professional or refer to IRS Publication 523, Chapter 2.

Home-Sale Proceeds. Next, you’ll need to compute the proceeds from your home sale, which equal the sales price minus your selling expenses. Note that selling expenses include broker’s commissions and legal fees. They also include expenses that would otherwise be considered repairs providing they were incurred to make the home more saleable and were completed within 90 days of the sale.

The Calculation. Now you can do the math. Subtract your home’s adjusted basis value from your home-sale proceeds. The answer is your capital gain amount. If it’s over the $250,000 or $500,000 limits, you’ll have some taxes to pay.

If you never sell your home for more than $250,000 or $500,000, you might never have to compute your home’s cost basis. Still, there’s no telling how much your home might be worth in the future, or whether you’ll need to know its cost basis for other reasons (such as depreciating the home as a rental for a period of time). Keeping good records of your home improvements could save you thousands of dollars in taxes later on.

Walk-Through

Just before the settlement meeting (perhaps the evening before if the settlement is scheduled early in the morning), you and your agent will do a “walk through” of the home to check its condition. During this last-minute inspection, you’ll look to ensure all repairs have been made as agreed upon and that no new problems have www.rainmakerecentral.comeloped. If settlement day is also occupancy day, you’ll want to make certain the home is empty and clean.

Miscellaneous Home Deductions

Other home-related tax deductions may apply to your situation, particularly if a move to a new home is job-related or if you use a portion of your home as a home office. Be sure to consult a tax professional to find out more.

If you’re considering your first home purchase, you may want to read our online report, INVEST YOUR RENT: Why Pay Your Landlord’s Mortgage? You can read it right now by clicking on the link.

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Once your purchase contract has been accepted by a seller, there are still many details to handle before your home purchase goes to settlement — when all parties to the transaction sit down to determine whether the contract has been served and, if so, to finalize the deal. If all goes well, keys are handed over and moving trucks go into gear.

Your real estate agent will handle many of the tasks required for settlement, but you’ll certainly need to be involved and making decisions along the way.

Timing Your Settlement

One prevalent myth has it that you should schedule the settlement date for late in the month in order to pay less interest. In fact, you’ll pay interest starting with settlement day and ending with the day the mortgage is paid off. Thirty years is 30 years, regardless when it begins.

What appears to be a “savings” is the amount of cash you pay at settlement for items that must be prepaid. An end-of-the-month settlement requires less cash because the prepaid items include mortgage interest due for however many days of the month remain between closing and the first of the next month. Therefore, at a January 31 settlement, you would pay only one day’s interest; at a January 15 closing, you would pay 16 days interest. In the long run, however, you’ll pay the same amount of interest, no matter when you close.

Mortgage Matters

If you were pre-approved for a loan, much of the mortgage application process has already been completed. Otherwise, you’ll need to apply for a loan as soon as possible. Remember, your credit score is just a snapshot of your credit worthiness. We’ve seen many buyers adversely affect their credit scores, changing their loan eligibility just before settlement. Here’s how to avoid last-minute mortgage-approval problems:

Don’t order furniture or appliances for your new home, even if no payment is immediately due.

Don’t allow stores to run a credit check for a new credit card when shopping or looking for new furniture or appliances.

Don’t apply for new credit cards, even when stores offer a discount in return for your card application.

Pay all credit-card bills on time, even if it means paying utility bills late.

Refuse increases in your credit limit if the increase is more than you need or is high in relation to your income.
.

Inspections

If you included a home-inspection contingency in your contract, you’ll need to select a home inspector. Once the inspection is complete, you’ll have to decide how to respond to any problems found. Depending on how the contract is written, you may opt to walk away from the deal if major problems, such as a cracked foundation, are identified. Otherwise, you should negotiate with the seller about repairing smaller problems or receiving some form of compensation at settlement.

In many states, a pest inspection is also required. Usually, it’s the seller’s responsibility to order and pay for this inspection. If problems are found, they must be corrected before settlement.

Appraisal And Survey

Your lender will want to verify the value of the home by sending out a professional to appraise the property. What if the appraisal comes in below the contract price? Depending on how your contract is written, you may or may not have to make up the difference with your own cash. It may be possible to renegotiate the price with the seller. The property will also be surveyed to ensure against encroachments.

Insurance

Your lender will want you to purchase two types of policies — homeowner’s insurance and a lender’s title insurance policy — the costs of which are often paid at settlement. The homeowner’s policy will protect the home and its contents against fire, theft, natural disaster, etc., up to a certain limit. You’ll need to decide what type of coverage (replacement vs. actual cash value) and what amount of insurance to purchase. In some localities, flood insurance may also be required.

A lender’s title insurance policy will protect the lender’s investment in the event that a former owner someday establishes a legitimate ownership claim on the property. Note, however, this policy offers no protection to you, the owner. It is highly recommended that you purchase a separate title insurance policy to protect your equity in the event someone else comes forward with a legitimate ownership claim.

Walk-Through

Just before the settlement meeting (perhaps the evening before if the settlement is scheduled early in the morning), you and your agent will do a “walk through” of the home to check its condition. During this last-minute inspection, you’ll look to ensure all repairs have been made as agreed upon and that no new problems have developed. If settlement day is also occupancy day, you’ll want to make certain the home is empty and clean.

Settlement Day

Assuming all goes well, you’ll be relieved to sit down at the settlement table with the seller and finalize the purchase of your home. You’ll have lots of paperwork to sign, which the settlement officer will explain as you go along. This is no time to be sheepish if you have any questions. Once settlement is complete, it is difficult to undo what’s been signed and dated by all parties involved.

If for some reason you are unable to attend the settlement meeting, you’ll need to make arrangements ahead of time, giving Power Of Attorney (POA) to someone who can sign paperwork for you. Note that if your spouse’s name is to be on the deed and mortgage, he or she will need to attend settlement or give POA to you or someone else.

SETTLEMENT: Secrets To An Easy Contract Closing. You can read it right now by clicking on the link.

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

http://realtytimes.com/117/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Mortgage Rate Locks Become Crucial”;
“Man’s Best Friend May Be Costly When Selling Your Home”;
“Credit Scores Remain Misunderstood”;
“Washington Report: Tax Provisions”;
“Re-examine Your Risk For Flood”;
“Love The House, Hate The Traffic Noise — There Is Hope!”;

Plus a roundup of July real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

If you do not wish to receive this Newsletter each month, please reply to this e-mail with the word ‘REMOVE’ in the subject line.

Sincerely,
Scott Lauri

 Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan).

 Click Here to find other information about the Housing and Economic Recovery Act.

http://money.cnn.com/magazines/moneymag/bplive/2008/top100/

View Homes for sale in Franklin Township here

Negotiations over the purchase of a home begin when you present the seller with a written purchase offer, usually through your real estate agent. The seller can accept your offer, in writing, reject it, or write a counter-offer, usually by modifying the original offer you presented. Several series of counter-offers may go back and forth before you and the seller finally reach an agreement.

The process of contract building ends when both you and the buyer sign the contract. At this point, the home is considered to be “sold,” though the terms of the contract will not be fulfilled until settlement.

Whether you ever reach an agreement, however, will depend on how well you and your agent negotiate the terms of the contract with the seller. If you took the time to prioritize what you wanted in the home and contract terms, you can refer back to those priorities at this stage to help you focus your negotiations.

Work For The Win-Win Solution

The whole point of negotiating is to find that point at which both parties to the contract get enough of what they want. Yet, sometimes the stickiest issues in negotiations over a home sale are very small ones. Sales have been lost, or nearly lost, over minor details when both the buyer and seller insist on getting their way and neither will compromise.

It’s important to be flexible, while keeping your attention fixed on your primary goals and the final outcome. Ask yourself: Should you demand a specific item or group of items to convey with the property at the risk of having your offer rejected? How much would it really cost you to delay, or move up, your occupancy date? Will you kick yourself if your initial offer is rejected (or out-bid) because you offered too little or asked for too many contingencies?

Be aware that market conditions will play an important role in your negotiations. If you’re fortunate enough to be buying in a buyers’ market, you won’t need to be quite as flexible, or generous, as you might need to be if there aren’t enough homes to go around.

Sales Price

Although the offer price is certainly important, it is only one part of the contract. Other contract terms will increase or decrease the amount of money you actually pay for a home. For example, you may offer full listing price (or more), but ask that the seller pay some or all settlement costs, which could amount to several thousand dollars. Keep your calculator handy when negotiating. You’ll want to assign value to everything you receive and offer in the contract.

In a strong market, you could face a multiple-offer situation. In this case, you may want to include an escalation clause in your contract, indicating that you’ll top the highest bidder by a certain amount, say $5,000. Be sure to see a copy of the highest offer before letting the clause go into effect. Also, make certain you have enough cash to cover the difference if your lender doesn’t appraise the home at the contract price.

In a weak market, you may offer somewhat less than the asking price, and hope to get a bargain. Consider, though, that other contract terms might be nearly as important to the seller as the offer price.

Deposit

Your offer will be accompanied by a deposit check or earnest money, representing the seriousness of your intentions. The seller will think about the size of that deposit before accepting a contract that pulls his or her home off the market. The larger the deposit, the more confident the sellers will be of your ability and willingness to follow through with the contract.

Settlement Costs

Different traditions exist in different areas of the country as to who typically pays certain types of settlement costs — loan points, attorneys’ fees, title searches, recording fees, etc. Nevertheless, you and the seller can split these costs any way you want as you negotiate your contract.

You and the seller may agree to pay particular costs. Or, one of you may agree to pay a specified amount, say $2,000, toward the total cost of settlement. Be sure to factor the costs you decide to pay, if any, into your bottom line.

Conveyances

Different traditions exist in different areas of the country as to who typically pays certain types of settlement costs — loan points, attorneys’ fees, title searches, recording fees, etc. Nevertheless, you and the seller can split these costs any way you want as you negotiate your contract.

You and the seller may agree to pay particular costs. Or, one of you may agree to pay a specified amount, say $2,000, toward the total cost of settlement. Be sure to factor the costs you decide to pay, if any, into your bottom line.

Contingencies

You’ll discover all sorts of contingencies in real estate contracts. In most cases, you’ll want to include a financing contingency, making the sale dependent on the your ability to secure a particular type of financing, at or below a specified rate, by a certain date. (Ideally, you’re already pre-approved for a mortgage.)

Another common contract inclusion buyers seek is an inspection contingency. With a “general inspection contingency,” you would have the option to walk away from the contract if you don’t like anything found in the professional inspector’s report. If you include a “specific inspection contingency,” however, you’ll only be able to get out of the contract if certain problems exist or, if other problems are found, the seller isn’t willing to resolve them (e.g., timely repairs at the seller’s expense, reduction in sales price, etc.). Sellers would be more inclined to accept a specific inspection contingency.

You can ask for a home-sale contingency, making your purchase of the home dependent on the sale of your old home within a specified period of time. If you’re in a strong sellers’ market, this isn’t likely to be accepted since it could delay settlement or increase the possibility that settlement won’t occur.

A number of other types of contingencies and terms are possible. Rely on your professional agent’s advice to help protect your interests as you move through the complexities of contract negotiation.

Want to find out more? Read our online report, NEGOTIATE: How To Buy The House At The Price You Want. You can read it right now by clicking on the link.

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Give us a call today so we can outline in detail all the ways we might be of service. We look forward to hearing from you!

P.S. Would you like some valuable information you can take a look at right NOW to help you make your selling decisions? We’ve sent a link to our FREE special report : TAX MOVES: Seven Smart Strategies For Today’s Tax Game. To read it, just click the link. It’s yours with no obligation.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Things have sure changed. Nowadays it seems everything you want to do is expensive. That’s why we’re so delighted to be able to offer you something that is absolutely FREE!

We’ve sent along a link to our special report, SHOWCASING: Set The Stage For A Quick Sale. To read the report, just click the link. You’ll learn about a number of simple, effective things you can do right now to ensure the swift, successful sale of your home. Best of all, these fix-ups won’t cost you a cent!

Call us with any questions you have about selling your home. We’re looking forward to hearing from you.

P.S. Take positive action today to make sure your home sells quickly and for the best possible price. We have many more suggestions that will attract buyers and offers fast. And they’re all free — just ask!

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Once you’ve determined how much you can afford to spend on a home — ideally with a mortgage pre-approval — take some time to consider what you’re really looking for.

Make a list of features you want: number of rooms, lot size, amenities (e.g., fireplace, up-to-date kitchen), sidewalks, architectural style, particular neighborhoods or school systems, etc. Also consider whether you’ll need financing from the seller, a particular occupancy date, or other specific contract terms. (Seller listings may mention certain contract terms they will and will not support.)

Now place your preferences in two categories: “must haves” and “wants.” With a clear picture of your preferences, your agent will be able to focus quickly on locating and showing you appropriate properties. You’ll save time and energy, and you’ll be able to choose a home with less anxiety.

Take Notes

One of the frustrating aspects of home shopping is remembering all the properties you look at. You can better keep track of them by creating a standardized form to fill out as you tour homes. (Although some homes may offer a summary brochure of features, others won’t.)

Your form should leave room for each home’s distinctive details: number of bedrooms and baths; interior colors and decorating style; proximity to schools, shopping and work; neighborhood atmosphere; yard amenities, etc. You may even want to take a Polaroid or digital photo of each home to jog your memory.

Cost Vs. Location

Remember, in the world of real estate, a good location is always a good investment. It’s likely to cost you more too.

Home values reflect proximity to good schools, shopping, recreation, cultural opportunities, places of worship, and places of employment. Although you may be able to get more home for your money (or the same home for less) away from such things, consider whether increased travel time and hassles are worth the trade-off. A remote location could be your ticket to serenity or a passport to isolation, depending on your unique circumstances and priorities.

Ask yourself:

Where will family members go most often from this new location? How easy will it be to reach those places? How accessible are schools, churches, grocery stores, medical care, public transportation, shopping malls and neighborhood services?

What is the view from the house and yard? Is the yard right for your anticipated activities? What uses are possible for nearby undevloped land? Is a new road or road-widening project planned?

Is rush hour traffic a problem? What will be the impact of special events such as local high-school games or church picnics?

How easy is it to get into and out of the driveway? Are streets well-lit at night?

What utilities serve the property? Are the rates competitive? Where will you get your mail? Where are the easements, if any?

Is the soil stable? Is part of the property on a flood plain — if so, what is the history of floods on the property?

Does the community have special by-laws or architectural controls over changes to a home? What are the pros and cons?
Assign priorities to important elements of the home’s location. Then make a list of the positive and negative aspects of each property you tour.

Appreciation Vs. Neighborhood

Areas that have experienced healthy market appreciation over the past few years are certainly worth considering. Remember, however, past performance is not always a reliable predictor of future appreciation or depreciation. A variety of factors affect the stability of property values, including local and national economic trends, the quality of original construction, and the life-stage of the neighborhood.

While newer homes tend to appreciate faster than older ones, they may lack amenities that are important to you — shade trees, sidewalks, variety of architectural designs, etc. If you seek the charms of an older neighborhood, the presence of an active homeowners association, preservation group or renewal effort will help ensure the soundness of your investment.

New Vs. Resale

With a new home, you’ll have the advantage of being able to choose the colors and finishes for floors, bath tiles, kitchen counters, cabinets and appliances. You can opt to upgrade and select builder options, and often you can choose a specific lot. Everything will be clean and new when you move in.

On the other hand, you may not be able to see your new home until the final walk-through. There may be a number of items on your “punch-out list” that need to be fixed or finished by the builder’s crew. Often, new-home buyers have to deal with continuing construction traffic, debris, mud, dust and unfinished roads — at least until the development and adjacent developments are completed. And new homes do have a break-in period, often with problems related to settling.

With a pre-owned home, you can actually walk through the home you are buying, and many personal touches, such as drapes and curtains, will likely have been added. You can also tell what the neighborhood will be like by driving through both during the day and in the evening. Shade trees and mature landscaping often give older neighborhoods a more charming ambiance. Generally speaking, you’ll get more home for your money buying an existing home.

The down side of resales: You may find that the seller’s tastes are not yours. It may be necessary to redecorate, even remodel, to tailor the home to your own color scheme, design preferences and lifestyle. Also, appliances and systems may be several years old, perhaps approaching the need for replacement.

Outlay Vs. Return

Some financial planners recommend buying as much home as you possibly can to maximize the significant tax advantages of homeownership and the potential return on your investment. (After all, a $300,000 home that appreciates 20% over five years would sell for $30,000 more than a $275,000 home appreciating at the same rate.)

If your income is likely to grow in years ahead, it might be wise to stretch your budget for the first few years, buying a home that will accommodate your needs well into the future.

Be careful, however, not to ignore the costs of upkeep when making your budget calculations. The more expensive the home and the larger it is, the more costly (and time consuming) it will be to furnish, maintain and repair. Will you have enough discretionary income and time left over for the other priorities in your life?

House Vs. Home

Buying a house is certainly a major financial investment. Buying a home, however, is an investment in your family’s future. Ultimately, the most important question to answer when looking at any home is, “Will we be happy living here?” No one can answer that question for you, but when you find a home that sparks an enthusiastic “yes!” it’s time to consider making an offer.

Learn how to conduct your own home “pre-inspection” before you make an offer by reading our online report,
TIRE KICKING: Secret Tests To Check A Property’s Condition. Simply click on the link to read it right away.

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Which do you select first: the loan program or the lender? In most cases, it’s best to decide on the type of loan that will best meet your financial goals, then find a reputable lender who can deliver that option to you at a competitive cost.

If you’re looking for a very new type of loan option, or a relatively obscure one, you may only have a few lenders to choose from. For a more “main-stream” mortgage program, you’ll have lots of lender choices.

Mortgage Terminology

Loan programs fall into all kinds of categories, and some have several different names. It’s helpful to understand some basic terminology before begin to consider today’s abundant choices.

Conventional Vs. non-conventional. Conventional loans are simply loans that are not insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). The non-conventional financing backed by the FHA and VA offers lower down payments and special terms to those who qualify.

Conforming Vs. non-conforming. Often confused with the above terms, conforming really refers to whether a loan meets certain guidelines established by the Federal National Mortgage Association (FNMA; “Fannie Mae”), and the Federal Home Loan Mortgage Corporation (FHLMC; “Freddie Mac”). These guidelines apply to loan limits, the borrower’s credit history and type of income, and characteristics of the property being financed, among other things. If all the guidelines are met, the loan “conforms” and qualifies for a lower interest rate and lower costs compared with non-conforming loans that pose a higher risk to lenders.

Jumbo loans. These are non-conforming loans because they exceed the loan limits set by Fannie Mae/Freddie Mac. As of this writing, the limit was $275,000 for single-family homes (except in Alaska, Hawaii and the Virgin Islands, where it’s $412,500). Mortgage loans over those amounts are “jumbos,” which carry higher interest rates. (Note that limits may be changed, usually increased, annually; ask us or a mortgage lender for current limits.)
 Common Loan Options

It seems every couple of months, a new approach to home financing is introduced to the market. Generally, though, you’ll choose from some variety of the following mortgage loan types:

Fixed-rate mortgage. The interest rate on these loans remains the same for the life of the loan, as does the monthly payment.

The 30-year fixed-rate mortgage is by far the most commonly chosen loan type because its low monthly payments allow buyers to purchase more home for their income. Even though the long-term interest expense is high (compared with shorter-term loans), the early years of a 30-year loan reward borrowers with a sizable mortgage-interest tax deduction. For a conventional loan, if you make less than the standard 20% down payment, you will likely have to pay for private mortgage insurance (PMI), until your equity in the home reaches 20%.

Also available: 20-year and 15-year fixed-rate mortgages offering lower interest rates and faster payoffs, but higher payments. Both FHA and VA offer 30-year and 15-year loans, with low or no down payment required.

Fixed rates are a good choice when rates have been stabilized at a relatively low level or when they’re beginning to rise.

Adjustable-rate mortgage (ARM). These loans start at a rate that’s usually lower (sometimes substantially) than fixed rates. However, the rate on an ARM will change according to a predetermined formula based on some financial market index (e.g., Treasury bills). The rate changes at certain intervals (after 1, 3, 5, 7 or 10 years, on a set schedule, then annually). As the rate changes, so will the monthly payment and interest costs of the loan. ARMs have “caps” that limit how much the rate can adjust annually and over the life of the loan.

ARMS are a good choice when rates have been relatively high or when they are dropping. An ARM may also be a good choice if you don’t expect to keep the loan for more than a few years — you can benefit from the low initial rate (and payments) before it adjusts upwards.

Two-step mortgage. A 30-year loan that starts at a lower-than-fixed rate and adjusts once, to whatever the fixed market rate is at the 5-, 7- or 10-year mark. A 7/23 loan, for example, is a two-step mortgage with a rate adjustment at the 7-year mark.

Like an ARM, a two-step loan offers the benefit of a low initial rate, and may be a good choice for borrowers who do not expect to hold the loan full term or who know their income will increase to cover larger payments (in the event the adjusted rate is significantly higher).

Assumable mortgage. FHA, VA and some ARM loans can be assumed by a new buyer with the approval of the lender. In this case, the buyer agrees to pay off the seller’s equity with a down payment, then takes over responsibility for the seller’s loan at the interest rate it was originally issued with. Buyers may arrange for a second mortgage (sometimes offered by the seller) to help cover the down payment, which may be substantially higher than 20% if the seller has owned the home for a number of years.

Assuming a loan is a good choice if its interest rate is lower than current market rates or if your credit isn’t quite up to snuff for getting a new loan. In addition, you may save on closing costs compared with a new loan.

Balloon mortgage. Offered by some lenders, balloon mortgages are also offered by some sellers who agree to “take back” a loan from their buyers. The borrowed amount is amortized over a 30-year period, keeping payments relatively low for, say, 5 or 7 years, at which point the balance of the loan is due in a lump sum.

You may want to choose a balloon mortgage if you expect a large sum of cash to come your way by the end of the mortgage term, or if you expect to be able to refinance at a reasonable rate by that time.

Built-up mortgage. Cash-poor buyers can get into a home without paying private mortgage insurance (PMI) with a built-up mortgage. These are loans that involve two trusts and a smaller-than-20% down payment. For example, an 80-10-10 loan requires a 10% cash down payment with a 10% second trust to subsidize the 80% first mortgage. There are even 80-15-5 loans where the buyer only needs a 5% down payment. These mortgage programs help save buyers money each month by avoiding PMI.

Other mortgage choices. You may encounter a variety of other loan choices that could meet your needs. Be sure to get a detailed explanation of terms and obligations before making your final decision. Remember, rates aren’t everything; compare the total costs of the loan, including discount points and various lender’s fees, before making your final decision.
 Picking A Lender

When looking for a lender, there are several non-financial characteristics your should consider:

The lender’s track record of closing loans, providing professional service and delivering the loan within the good-faith estimate can be much more valuable than a low interest rate.

If you’re looking at a special form of financing, find out how many of that type of “non-conventional” loan the lender has brokered. Not all loan officers work with VA loans, or construction loans or wrap-around loans. These are specialty programs where experience comes at a price.

Consider the depth of a lender’s program offerings. If for some reason your first mortgage choice falls through, you’ll need more than a one-program lender to give you options. The idea is to avoid having to transfer your loan from one lender to another because the first lender doesn’t work out.
Closing the loan is much more important than finding the lowest cost. It doesn’t matter how much you “would have” saved on a mortgage if it never goes to settlement because the lender couldn’t meet your needs.

Find out how you can get a great deal on a home loan by reading our online report, LOWER RATE: Seven Smart Ways To Reduce Your Mortgage Rate. Simply click on the link to read it right away.

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

• How do you determine the best price to ask for your house?

• What are some inside secrets to make your house more marketable?

• What’s the best way to negotiate when a buyer makes an offer?

• How do you determine how much money you’ll clear from the sale?

• What do seller settlement costs include?

If you’re not sure you can answer these questions, give us a call. We have the answers along with so much more information you’ll need to successfully sell your home. There’s absolutely no obligation.

Call today. We’re looking forward to hearing from you!

P.S. We’ve sent a FREE gift for you! It’s our special report, INCENTIVES: 12 Contract Options That Entice Today’s Buyers. You can read it right now just by clicking the link. The report is yours with our compliments. Please call us if you have any questions.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Real Estate Newsletter

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Sell Faster When You Understand The Buyers Mindset”;
“What You Should Know About A Buyer’s Market”;
“Investor Report: Section 1031″;
“Paint The Perfect Sale”;
“Grill Burgers, Not Your Home”;
“Home Sales May Rise Modestly Before Upturn in Second Half Of 2008″;

Plus a roundup of June real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

Is your credit in good shape? Would you know if it were not? When it comes time to apply for a mortgage loan, you’ll want your credit to be as clean as possible to get as much mortgage as you need at the lowest possible rate.

Take A Peek

It’s a good idea to have a look at your credit report before you apply for a home loan. Contact one of the three largest credit bureaus — Experian, Equifax and TransUnion — to get a copy of your report. (Their websites: www.experian.com, www.equifax.com, www.transunion.com.) In fact, you may want to request reports from all three since some information may appear in one report that doesn’t show up in another. (That’s also why most lenders look at a “three-file merged” report.)

Here’s what lenders hope to see:

All bills are current and have been paid on time for at least two years prior to the loan application.

Mortgage or rent payments have not been more than 30 days late.

Installment and credit-card payments have not been more than 60 days late.

Charge-offs should be resolved before making application for a loan.

Old credit-card accounts have been closed out.

Any late payments have been explained in writing.
Looking at your report early will allow you to clear up any inaccuracies you may find. You may also have time to make some adjustments to your financial picture, improving the credit score lenders will base some or all of their decision on.

Your Credit Score

The most recent approach to rating credit — credit scoring — has been replacing traditional underwriters’ judgments for several years now. A credit score is developed using a standard formula that takes lots of factors into consideration including your income, the number and types of credit you have available, the length of your credit history, total credit balances, your repayment history (including judgments and liens), even the number of recent inquiries from creditors.

Your credit score will be given an A, B, C or D rating, depending on the lender’s standards. A score of 800 is considered perfect, but scores above 660 often fall into the top A rating and qualify for the lowest interest rates.

Remember, not all credit flaws are equal — lenders will overlook some more easily than others. The best way to get your credit picture cleaned up for a mortgage loan application is to retire as much debt as possible beforehand. In particular, pay off and close all but one or two credit cards, and refrain from applying for any additional credit (even a gas card or furniture-store financing) until you’ve settled on your home.

Get Mortgage Pre-Approval

Once you have your credit ready for a lender’s scrutiny — and before you even start home shopping — get pre-approved for a mortgage loan. Being pre-approved means the lender has already processed much of the paperwork for the loan (application, credit check, etc.) and has committed (with certain conditions) to lending you up to a specified amount of money for a qualified home purchase. A loan application fee may be required.

Pre-approval is better than pre-qualification, which only gives you an estimate of how much you can borrow, assuming there are no surprises in the credit- and income-checking process. Being pre-approved, however, will give you bargaining power when it comes time to make an offer on a home. You’ll know exactly how much home you can purchase, and sellers will view you as a serious buyer — one who’s likely to go to settlement.

CREDIT REPAIR: How To Move From Rejection To Approval. Struggling with less than perfect credit? Learn how you can secure a mortgage loan by by reading our Free report

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

About ERA Absolute Realty
The Lauri family founded ERA Absolute Realty in 1998 and had 6 sales executives serving only Middlesex County. In 2001 the company brought on some additional executive staff with the additions of partners Scott Lauri and Arthur Lauri III. Now ERA Absolute Realty has over 30 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties. learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611 or visit www.HomesOFNJ.com

About ERA Franchise Systems LLC
ERA Franchise Systems LLC is a global leader in the residential real estate industry with more than 30 years experience in developing consumer-oriented products and services. Since 1977, ERA Real Estate has teamed up with the Muscular Dystrophy Association in its fight against neuromuscular diseases, raising more than $30 million. The ERA network includes more than 38,000 brokers and sales associates and approximately 3,000 offices throughout the

…Then your home will stand out from all the rest, and you’ll sell faster and get the best price, too!

If you’d like, we can meet with you at your convenience to discuss exactly where many sellers go wrong — with misguided choices about pricing, home improvements, financing and more. Then we can map out a strategy for you and your home sale that averts the most common pitfalls — so your home will sell FAST.

Call us today. We’re looking forward to hearing from you.

P.S. We’d like you to have our FREE report, SOLD: How To Attract More Buyers With Seller Financing. To read it, just click the link. You’ll learn about one of the best ways available to increase the pool of buyers interested in purchasing your home. Give us a call for more information — at no cost, of course.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

About ERA Franchise Systems LLC
ERA Franchise Systems LLC is a global leader in the residential real estate industry with more than 30 years experience in developing consumer-oriented products and services. Since 1977, ERA Real Estate has teamed up with the Muscular Dystrophy Association in its fight against neuromuscular diseases, raising more than $30 million. The ERA network includes more than 38,000 brokers and sales associates and approximately 3,000 offices throughout the United States and 49 other countries and territories. Each office is independently owned and operated except offices owned and operated by NRT LLC. ERA Franchise Systems LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. ERA Franchise Systems LLC information is available at ERA.com.

Let them know!

On June 1, 2008, NJ TRANSIT introduced riders PLATFORM - a new online “suggestion box” that is YOUR platform to share ideas and suggestions.

NJ TRANSIT is seeking to generate as many ideas as possible by having the public post suggestions and vote on the best. The most popular ideas will be considered for implementation by NJ TRANSIT.

NJ TRANSIT needs to hear from supporters of the North Brunswick train station. Building a new train station in New Brunswick will significantly improve service and meet the demanding needs of the Northeast Corridor Line.

TAKE ACTION NOW and let NJ TRANSIT know that you support a new train station in North Brunswick.

Go here to get up-to-date information direct from the developers of the old J&J site in North Brunswick.

It’s hard to separate emotion from reality in a situation like this. And yet it’s critical that you do. In today’s competitive market, the #1 reason a home doesn’t sell is price. If you don’t enter the market with a price that is on target, you’ll waste a lot of valuable time and your best pool of potential buyers will never even hear about you.

The trick is to find that ideal price — right from the start. We can help you do that. We’ve had years of experience in the real estate business, and we know what factors to consider when making price deliberations.

We would be glad to visit you at your convenience, run some computerized comparables, and discuss with you the specific features of your home and your neighborhood that weigh into the pricing decision. Please give us a call today.

P.S. For your information, we’ve sent along a FREE special report, PRICING: Beat Your Competition To The Contract. This practical guide helps you determine how to set the correct price, the risks of both over- and under-pricing, and how price affects the prospective buyer pool. To read the report, just click the above link. There’s no obligation!

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Purchasing a home is the most complex financial transaction most people ever undertake. The many details involved — from searching for appropriate properties to negotiating a solid purchase contract, from finding financing to bringing about a successful settlement — amount to a full-time job and then some. That’s why it makes so much sense to work with a professional real estate agent.

Before you begin your home search, find a buyer’s agent who will work with you to represent your interests and handle the many details involved in the transaction. (We would be happy to work with you!)

Picking An Agent

Because you may spend a lot of time home shopping and talking with your agent, it’s very important that you have a good rapport with each other. You should feel comfortable asking the agent questions. You should also have a sense that your concerns are being listened to, taken seriously and responded to appropriately.

Here are some questions you may want to ask agents before you sign a contract for representation:

Do you have access to the area multiple listing service, foreclosed listings and other sources of information about available homes? Make sure your agent is well-connected and knows where the new listings are coming from.

Will you show me all the available homes in my price range, even if they’re listed by another company?

Will you provide me with a comparative price analysis for any homes I’m considering buying?

How often will you communicate with me? How and when will I be able to contact you?

Can you supply me with references from other buyers you’ve represented recently?

How extensive is your knowledge about the current mortgage options available? Can you refer me to reputable lenders?

What types of contract contingencies would you suggest I include in my purchase offer? Look for a highly skilled, creative negotiator who can get your offer accepted while protecting your interests.

What tasks will you take care of to ensure my home purchase goes to settlement as quickly as possible?
 What To Expect

If you decide to work with a buyer’s agent, you’ll sign a contract detailing the exact terms of your relationship. Here are a few things you should expect to see in a written agreement of buyer agency.

Agency disclosure: Explains in plain language that the agent works for you, the buyer, rather than sellers, during the transaction. Many states require disclosure to protect the consumer.

Confidentiality: Nothing said to your agent should be repeated elsewhere — especially to a seller’s agent.

Scope/length of work: Details what the agent will do for you and for how long. This involves the search for homes, previewing them for you, negotiating the purchase contract and overseeing the fulfillment of the contract (e.g., monitoring inspections and appraisals).

Compensation: Spells out who pays the agent working for the buyer. Often, buyer’s agents receive a portion of the commission the seller pays his or her agent and broker — but not always. Some buyer’s agents receive a flat fee or hourly fee from the buyer.

Dual agency: Explains what happens if your agent handles your transaction when his or her company is also representing the seller. The agreement should spell out how your interests will be protected.

SEARCH: Quick Checklist For Finding The Perfect Home. Find out more about how you can purchase a home by clicking the link.

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

You’ve seen them around your neighborhood. Homes that have been on the market so long, the “For Sale” signs have acquired cobwebs.

You sure don’t want that to happen to you! Where did these folks go wrong? You’d like to know, so you can avoid the same mistakes.

That’s where we can help you. Our many years of working with home sellers have given us valuable insights into what works and what doesn’t when selling a home. Having this information could make all the difference between a home that sells fast and one that sits…and sits…and sits.

Call us today and we’ll be happy to tell you what we know — at no charge!

P.S. We’ve packed some of our knowledge into a special report we’d like you to have FREE. It’s called: CONTRACT: Who’s Offering What, When And How For Your Home. To find out how you can avoid selling to the wrong buyer, simply click the link. The information is yours with no obligation.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Getting enough cash together for a home purchase has been a major stumbling block for many would-be home buyers. But it’s less a problem today than it used to be, thanks to new loan programs and changes in the law.

You certainly will need some cash to make a down payment and cover settlement costs — how much will depend on the loan/lender you choose and the terms of your contract with the seller. You’ll also need to budget cash for moving expenses, new appliances and furniture, decorating costs, perhaps even immediate repairs or remodeling.

Down Payment

Although a 20% down payment is still considered “standard” in the lending industry, home buyers frequently purchase with much less. Most lenders will accept lower down payments, say 10%, if buyers purchase private mortgage insurance (PMI) to shield the lender from the higher risk associated with the loan. Often, an initial premium is paid at the settlement table, with additional premiums paid monthly. Other payment arrangements are available, however. (If you buy PMI, you can have it canceled when your equity in the home reaches 20% or more, either through payment on principal or market appreciation.)

The Federal Housing Administration (FHA) offers loans to qualified buyers with as little as 3% down. Veterans can take advantage of no-down-payment loans from the Department of Veterans Affairs (VA). And zero-down loans are now being offered by conventional lenders for home buyers with excellent credit, though the interest rate on these loans may be somewhat higher.

Whether you decide to make a large or small down payment will depend on the amount of cash you have available and your financial goals. Some buyers prefer to make larger down payments to minimize their monthly payments and interest expense. Other buyers make small down payments because they lack cash or they want to “leverage” their investment (watching their homes appreciate on OPM, other people’s money). The low-down-payment strategy also yields a higher mortgage-interest tax deduction.

Settlement Costs

Settlement costs (also called closing costs) cover a variety of expenses including:

Loan or discount points
Loan origination or service fee
Loan application fee
Credits report
Appraisal
Home inspection
Title insurance (lender’s and buyer’s)
Attorney or settlement agent
Recording fees and transfer taxes
Prepaid interest
Prepayments for taxes and insurance
You may also pay other costs, not listed above, depending on the particular transaction. Some of these costs are typically thought of as sellers’ costs, while others are often paid by buyers, with different traditions about who pays which in different areas of the country. Regardless of local tradition, however, you may be able to negotiate to have the seller pay some or all of your settlement costs. You may also be able to reduce your cash outlay by rolling your settlement costs into your mortgage loan.

Of the settlement costs listed, loan or discount points (paid to reduce your interest rate on the loan) may be the largest expense. If, for example, you pay 2 points (a point equals 1% of the loan amount) to reduce your interest rate by 1/4% on a $100,000 loan, you’ll pay $2,000 for points at closing. If you pay all of the other closing costs in cash as well, you could need an additional $3,000 or more.

Your lender will give you a Good Faith Estimate of closing costs within three days of your loan application. It is, however, an estimate — the actual numbers will differ somewhat by the time you get to settlement.

Collecting Cash

If you negotiate to minimize your cash requirements but you still don’t have enough to purchase a home, there are a number of creative options available. Of course, a disciplined savings plan is the first strategy you should consider. Here are a few other ways you can assemble the cash you’ll need:

First-time buyers (defined as those who haven’t purchased a home in the past two years) are allowed to borrow up to $10,000 from their individual retirement account (IRA), penalty free, if the money is used to purchase a home. The $10,000 can also come from parents’ or grandparents’ IRA accounts.

Borrow from a company pension plan or against a life insurance policy.

Get an advance on a future inheritance.

Ask parents or other benevolent individuals for a tax-free gift, accompanied by a “gift letter” indicating you will not be required to repay the gift.

Partner with others (friends, relatives, investors), to exchange their cash for equity in your home (which you can buy out later, if you wish).

SHELTER: Six Little-Known Ways To Help Relatives Finance A Home. Find out more about how you can purchase a home by clicking the link.

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Before you even begin to think about what type of home you want or what neighborhood you would like to live in, you’ll need to determine what you can afford. The answer will depend, partly, on the amount of cash you can bring to the purchase. But even more important, is how large a monthly payment you can afford based on your income and other debt obligations

Lender Standards

Lenders use a set of ratios to determine the maximum loan payment they think borrowers can handle without getting financially overextended. Most (though not all) lenders use 28% and 36% limits.

The 28% limit is the maximum amount of your gross monthly income that can be used to pay principal, interest, taxes and insurance (PITI). For example, if you have gross earnings of $5,000 per month, the 28% standard would limit your PITI payment to no more than $1,400 per month. With a 7% interest rate on a 30-year mortgage, that $1,400 payment would qualify you to borrow about $208,000 (depending on the cost of insurance and taxes).

But wait! You still have a 36% limit to worry about. This second ratio holds your PITI payment plus all your other payments for long-term debt (e.g., credit cards, car loans, etc.) to no more than 36% of your gross monthly income. Say you earn $5,000 per month and have monthly installment payments totaling $600 per month. The 36% test would limit your PITI payment to just $1,200 (.36 x $5,000 = $1,800; $1,800 - $600 = $1,200). At that payment level, you could borrow about $180,000.

Add your down payment to the lower of the two amounts the ratios qualify you to borrow and you’ll know the top price you can pay for a home. (Of course, your actual numbers will vary from those above; give us a call to find out how much you could borrow based on your particular income/debt situation.)

Beyond Ratios

Bear in mind, just because a lender is willing to loan you a certain amount of money for a home purchase doesn’t mean you should borrow that much. The ratios yield a maximum amount, which may be too much for some borrowers to handle realistically.

Say you live in an area with a high cost of living, or you have an expensive hobby, or there are additional debt obligations on the horizon — college tuition, elder care, child care. The 64% of income you have left over (after 36% goes to your PITI and debt) may not be enough to cover all your other expenses comfortably. You could end up living “house rich and cash poor,” perhaps even defaulting on your home loan.

On the other hand, borrowers who know their income will increase steadily in subsequent years, or who are close to retiring some long-term debt, may want to take the full amount offered by a lender. You may even want to increase the amount of money you qualify for by retiring some of your long-term debt before applying for a loan. Another way to maximize your loan amount is to shop for a lower interest rate — the lower the interest rate, the more principal you can afford to borrow.

QUALIFIED: How Much House Can You Really Afford?
You can read it right now by clicking on the link.

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Summer yard sale for Jerry’s Kids.

Saturday June 28th from 10am-4pm to benefit the Muscular Dystrophy (MDA), Lupus Foundation and Salvation Army.  The location is the ERA Absolute Realty parking lot at 1600 Jersey Avenue, North Brunswick, NJ 08902

http://realtytimes.com/115/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“Moving Up? What You Need to Consider to Accommodate Your Growing Family”;
“How To Get the Goods On Regreening”;
“ID Theft Hits Home”;
“Keep Cool Starting From The Top”;
“Avoiding Home-Based Business Blunders”;
“Tax Rebate Uses For Sellers”;

Plus a roundup of May real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

Owning a home offers significant financial and personal advantages. Homeownership works as an investment, a tax shelter, a savings opportunity and a source of personal satisfaction for millions of Americans.

Homeownership is a durable (real) investment. Like most investments, there are no guarantees as to how much a particular home will appreciate (increase in value) over time. However, decades of generally increasing home values have favored most homeowners with good returns on their home-purchase investment.

Owning your own home doesn’t just provide shelter — it provides a tax shelter. Homeowners benefit from a number of tax advantages unavailable to renters. Chief among them is the mortgage interest tax deduction, which allows you to deduct (with certain limitations) the thousands of dollars in interest you pay on your home loan every year. In fact, the deduction is available for interest on second mortgages, equity loans or lines of credit, and second homes too — again, with certain limitations.

Looking at “after tax” take-home income, the mortgage interest tax deduction alone can sometimes make owning a home less expensive than renting. (You’ll find a detailed discussion of homeowner tax benefits in a separate lesson.)

Paying back the principal (borrowed amount) of your mortgage is a solid form of savings. Over time, your monthly payments increase your equity (share of ownership) in the home. You can “withdraw” those savings by selling your home or by taking out an equity-based loan.

Often, homeowners can move up to a larger or more expensive home using the equity from the sale of their first home as a down payment. Or, they can simply tap their equity (through a home equity loan) to purchase a second home, pay for college expenses, make home improvements, or retire high-interest-rate debt.

Owning a home puts you in control. You have greater financial control because your housing costs are more predictable than a renter’s — even if you choose an adjustable-rate mortgage (ARM). And you can remain in your home as long as you meet your ownership obligations, rather than facing lease expiration at the discretion of some other property owner.

Owning a home allows you more freedom to choose your community, styles of architecture and decor, appliances, and other lifestyle options. In short, homeownership offers a level of comfort, security and personal pride that renting simply can’t provide.

FIRST TIME: How To Buy The Most Home For Your Money. To learn more right now about how you can purchase a home, simply click the link.

ANY QUESTIONS?

We’ll be happy to answer your specific questions about your particular situation.
E-mail your questions to us any time by clicking our e-mail address below.

Thank you,

ERA Absolute Realty
732-220-6611
1600 Jersey Ave.
North Brunswick, New Jersey 08902
Office@AbsoluteERA.com
www.HomesofNJ.com

Cheer up. You’re not alone. With some solid real estate counseling and some help from your lender and/or sellers and others, you can not only get your toe in the door, but you can own the house too. It just takes some creativity, a few inside tips and a bit of homework.

For starters:
Examine your goals
How ironclad are your dreams? Can your ideal of a formal dining room or a hot tub on a redwood deck be postponed? Must you have a two-car garage? Lowering your expectations and starting out modestly (in decent housing that meets your needs) can lead to owning those dreams — in time.

Start saving
Get your priorities straight. Without taking all the fun out of life, what’s more important to you, weekends on the road and dinners out or stashing away at least part of your down payment? (Most lenders want to see that some of the money you invest is your own.)

Keep your credit record clean
When you go mortgage shopping, lenders will be looking over your payment records. Don’t let a late-payment habit rise to haunt you. (Reformed late-payers can request creditors to erase the blots on their records — for a small fee.)

Look for financial assistance
Your parents and other relatives may be able and willing to give you gifts that will get you over the down payment hurdle. (Loans from relatives will be counted as debts and will lower the amount of mortgage payments your lender will allow you to carry.)

Get some co-signers
Parents, relatives (and unrelated investors) can either co-sign a loan or share the ownership of your home. With shared ownership, you’ll be the resident but your co-investor may share specified expenses (plus tax advantages and equity accrual), and will share in your profit on sale.

Shop for mortgage loans
Qualifying for a mortgage can be managed in several ways to fit your down payment and monthly-payment abilities. FHA and VA loans come with low down payment requirements, and lenders offer ARMs (adjustable-rate mortgages) at initially low interest rates. (Look for an ARM that can be converted to a fixed rate should rates drop.)

Consider creative financing
Also, new-home builders and other sellers may offer buy-downs that lower your interest rate in the first few years of a mortgage, thereby making a home more affordable. Balloon loans (if they have at least a 7-year term) can often bridge gaps and give you time to accumulate equity and/or cash to pay them off. Home sellers can sometimes help you financially — with a lease-purchase arrangement or a take-back loan. Lenders and sellers are constantly creating new ways to help buyers buy homes. We can help you check them out.

Look at starter homes
Once freed of the vision of “instant dream home,” you can look for housing that will start you on the equity-building path to realizing your dream. Condominiums and townhouses are often much less expensive than detached houses and buying one now can serve well as a stepping stone.

Search for bargains
If you’re handy with tools, a fixer-upper home gives you the opportunity to buy inexpensively, fix up and, in a few years, trade up. And if you’re adventurous, auctioned properties in suitable neighborhoods can also be good values. If you don’t mind a longer commute to work, outlying areas frequently offer homes at lower prices than those found close to town.

Whatever route you choose toward buying your first home, keep cool. It may take time to find the right combination of elements, but there is a home out there for you and a way to obtain it. We’ll be most happy to help you create your path to its door.

Call or e-mail us for more information on buying your first home.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

<<Click Here to Test Drive a Career in Real Estate>>

Planning well ahead can help ease relocation stress. By mapping out the process, each step will become more predictable and manageable. Also, be sure to keep communications open and frequent among family members and with outsiders who can help.

Allowing your home to go in to foreclosure is like getting in to a severe credit crash while a short sale is a credit fender-bender.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

Anxiety about leaving familiar surroundings.
We counsel potential transferees on the advantages of moving to the new location. Early on, we address their immediate concerns: problems and methods of selling homes, moving, and buying homes. This broad overview of the relocation process gets you focused on what’s ahead — instead of what’s being left behind.

Fear of the unknown.
Our relocation kit gives your family the specifics about the new community — its homes (prices, taxes, probable settlement costs, etc.), schools, transportation, shopping, recreational and cultural facilities, medical and other services as needed. The presentation of real facts makes the transferee less apprehensive.

Deadline panic.
For many, the time frame for a move seems too short. But we can help by coordinating the closings and move dates, expediting the sale of the present home, arranging for temporary housing and the storage of household goods if needed. Plus we can reduce house-hunting time through advance search of available properties.

Housing worries. 
Worries over the sale of your present home and the financing of a new home can cause stress. Our home-sale and purchase expertise helps to minimize those concerns. For outbound families, we help determine probable price ranges for your home, make a realistic estimate of the equity anticipated, and refer you to a top-notch affiliate in your destination area. When it comes to the purchase of the new home here, we help out-of-town buyers find the most suitable home and the most desirable financing in our area.

Personal conflicts.
Conflicts in a relocation can arise from many sources — a mismatch with a real estate agent, domestic storms over the spouse’s need to find a new job, a teen’s concern about finding friends. We can help minimize these concerns by providing area counseling and community tours, suggesting employment sources for spouses, and being sensitive to the special needs of children, elders and others involved in the move.

Summing up.
For a good move, move first against stress.

Call or e-mail us for our professional guidance through the relocation maze.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

North Brunswick - $525,000. New construction. Don’t miss a visit to this 4BR/2+BA two-story. Among its features are central heat/air, pantry and ceramic tile baths with Dual Vanities, soaking tub. Large & livable. Cathedral ceilings, energy-saving thermal glass, formal dining room. Basement. An unusually nice haven for a comfortable lifestyle. http://www.era.com/fast/2235790

North Brunswick - $500,000. Lead a serene life in this nicely-kept 3BR/3BA Colonial near public transportation- recreation- schools. Lovely flourishes include two-car garage, newer furnace and deck. A generous-sized home that suits all needs. Two-story foyer, cathedral ceilings, energy-saving thermal glass. Subdued recessed lighting, fine master suite, attractive large bedrooms. Family room with fireplace and wet bar. Ceramic tile baths. Finished basement. An inviting choice with many fringe benefits! For those who believe in Vaastu Shastra, this house is perfectly located/designed in all respect as required. http://www.era.com/fast/2417423

North Brunswick - $515,000. Come feel the hospitality of this engaging 4BR/2+BA Colonial on a shaded cul-de-sac near public transportation. Ideal offerings include formal dining room, center hall and central vacuum system. Big & bright, with companionable comforts. Foyer, Andersen windows, heat-saving thermal glass. Custom blinds, jacuzzi, generously large bedrooms. Ceramic tile baths with Dual Vanities, spa, 2nd-floor laundry, underground utilities. Two-car garage, basement, deck. Large front porch, full landscaping. Here’s a jewel featuring neat extras. Superbly-kept. http://www.era.com/fast/2429597

North Brunswick - $445,000. Dollar-smart, 3-bedroom three-story on a tree-fringed street near recreation- bus- schools. Among its features are finished basement, ceiling fans and hardwood & tile flooring. Vaulted ceilings, ceramic tile baths, formal dining room. Washer/dryer, central H/A. Two-car garage, deck, custom yardscape. Waterfall. Cordial home that has everything you need. Well-kept. http://www.era.com/fast/2400537

East Brunswick - $200,000. Move-in condition + ideal location + easy closing = A Winner! This immaculate charming 1 bedroom condo features professional painting, a washer/dryer in the unit, easily maintained pergo flooring. Ideal for commuters. Walk to NYC bus and shopping. Why rent when owning this is so affordable? http://www.era.com/fast/2428456

East Brunswick - $439,888. Visualize yourself in this fully fenced 3BR/2.2BA residence. Among its features are finished basement, enclosed patio and garage. Cathedral ceilings, hardwood & tile flooring, ceramic tile baths. Formal dining room, laundry room. Garner applause with this stand-out. http://www.era.com/fast/2392199

Franklin Park (Somerset) - $390,000. Create a lovely haven in this fully fenced 3-bedroom home on a tree-canopied street near public transportation- schools. Some of the highlights of this delightful residence are pantry, newer kitchen with corian countertops two-car insulated garage with new insulated garage doors. Anderson windows. Private drive. Secluded den, familyroom, special recreation room. Hardwood flooring, custom blinds, formal dining room. Main-level laundry. Newer berber carpeting and half bathroom. Partially finished basement, patio, deck. Storage shed, city utilities, well water. Meet a perfect set-up for an especially nice lifestyle. http://www.era.com/fast/2463009

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

Here’s what some states have been doing:

• Ohio has contracted with more than 1,000 attorneys to work with borrowers free of charge to block foreclosures.

• Illinois is considering a bill that would impose a 60-day moratorium on some foreclosures.

• Maryland has enacted emergency legislation to give borrowers at least 150 days to cure defaults, effectively creating a short-term moratorium on foreclosures.

• Minnesota is considering requiring lenders to honor a borrower’s request for a 12-month deferment.

• Beginning May 1, borrowers in Massachusetts will have 90 days to cure any defaults before their mortgage company can foreclose.

The Mortgage Bankers Association opposes foreclosure moratoriums.

Source: The Wall Street Journal, Ruth Simon and Amy Merrick (04/04/08)

Orientation for Parents/Guardians of 2008-2009 Kindergarten Students

On April 8, 2008 at 7 PM at the North Brunswick High School Auditorium there will be a Community Meeting to discuss the full day Kindergarten program that will begin in September. The presentation will also include an orientation program for parents/guardians of children who will begin Kindergarten in September.
The evening’s program will begin with Kindergarten teacher Donna Kent and child development specialist Andrea Porter. Ms. Kent and Ms. Porter will provide parents/guardians with suggestions to prepare their child for a successful Kindergarten experience, valuable tools to help children become good readers and writers, and an overview of the Kindergarten curriculum.
Following that presentation, the district Full Day Kindergarten Task Force (KTF) that has been investigating all aspects of full day programs will give a status report of their findings and seek the input of attendees. The KTF is comprised of the district’s Kindergarten teachers, representatives of the first grade teachers, the parent of a pre-K student, a Board of Education representative and district administrators. In order to prepare for the implementation of the full day program, the KTF has been investigating full day philosophies, curricula, materials, and daily schedules to define the components of a full day program that will best meet the developmental, academic and social needs of our children. There will be an opportunity for the public to comment on the components of a full day program.

Learn more at our Kindergarten Registration webpage

The Fair Housing Act protects the basic right of all Americans to pursue the dream of homeownership, free from discrimination based on race, color, religion, sex, disability, familial status and national origin. NAR has a strong commitment to fair housing through partnerships with real estate diversity partners, education, and grant and award programs.

“REALTORS® build communities and play a vital role in advancing fair housing laws and improving access to affordable housing,” says NAR President Dick Gaylord. “NAR and its 1.3 million members pledge to continue our work educating home buyers and homeowners in our communities about fair housing laws, discrimination, and predatory lending practices, making the dream of homeownership viable for all Americans.”

What NAR Is Doing

• Pushing for flexible FHA. NAR is working with Congress to make permanent the new FHA conforming loan limits, mandated by the economic stimulus package, so that Americans can access affordable financing in all areas of the country. REALTORS® also continue to push for a stronger, more flexible FHA program, to give more first-time buyers access to affordable and safe financing options.

• Educating real estate professionals. For the past decade, NAR has been educating REALTORS® through its “At Home with Diversity” program to be sensitive yet aggressive in meeting homeownership needs of a diverse society. More than 25,000 REALTORS® have completed the course. In celebration of Fair Housing Month, NAR is waiving the program fee for any local or state REALTOR® association that sponsors the course in April. Members can also save 50 percent off the online course this month.

• Rewarding progress. NAR also embraces fair housing by recognizing the efforts of individuals and organizations that advance minority homeownership. NAR joins together with five real estate diversity partners in sponsoring the HOPE Awards (Home Ownership Participation for Everyone). The awards showcase exceptional individuals and organizations that are working to increase minority homeownership, revitalize communities and expand affordable housing opportunities.

• Making a visible commitment. In 2007, NAR proudly contributed $1 million to the Martin Luther King, Jr. National Memorial Project. The memorial is due to open on the National Mall in Washington, D.C. in 2009.

• Funding special programs. In addition, NAR’s Community Outreach Department provides financial resources to local and state Realtor® associations for programs and activities that advance smart growth, diversity and housing opportunities. Grants of up to $5,000 are awarded twice a year; more than $239,000 was awarded in 2007.

— REALTOR® Magazine Online

http://realtytimes.com/113/ScottLauri

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month’s issue includes topics such as:

“What Does The Economic Stimulus Package Mean To You?”;
“Is Your Credit Score as High as You Think?”;
“Appealing Your Property Tax Bill”;
“Location Can Dictate Maintenance Chores”;
“Buying Bonds and the Mortgage Market”;

Plus a roundup of March real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

If you do not wish to receive this Newsletter each month, please reply to this e-mail with the word ‘REMOVE’ in the subject line.

Sincerely,
Scott Lauri

The proposal, which will be outlined in detail April 1, will merge or eliminate some long-standing institutions like the Securities and Exchange Commission, and streamline others. The Federal Reserve would get a new role as the super cop in charge of financial-system stability. Some proposals are expected to directly address the current mortgage-risk problems.

Treasury Secretary Henry Paulson, who authored the plan, says it wouldn’t necessarily prevent future financial crises.

“I don’t think any regulatory system is going to change that,” Paulson says. “I think we rely very, very heavily on market discipline. Having said that, I still think we need a system that is more efficient and gives us a better chance, gives us more tools to try to solve problems.”

Rep. Barney Frank of Massachusetts, the Democrat who chairs the House Financial Services committee, says he found the plan encouraging. But he says that for the rest of this year, lawmakers need to devote all their energy to stabilizing the mortgage-market turmoil rather than determining broader fixes.

“It’s too close to an election and it’s a very major thing,” he says.

Source: The Wall Street Journal, Damian Paletta, Greg Ip and Michael M. Phillips (03/31/08)

Earth Hour was created by WWF in Sydney, Australia in 2007, and in one year has grown from an event in one city to a global movement. In 2008, millions of people, businesses, governments and civic organizations in nearly 200 cities around the globe will turn out for Earth Hour. More than 100 cities across North America will participate, including the US flagships–Atlanta, Chicago, Phoenix and San Francisco and Ottawa, Montreal, Toronto and Vancouver. View cities involved around the world.

We invite everyone throughout North America and around the world to turn off the lights for an hour starting at 8 p.m. (your own local time)–whether at home or at work, with friends and family or solo, in a big city or a small town.

What will you do when the lights are off? We have lots of ideas.

Join people all around the world in showing that you care about our planet and want to play a part in helping to fight climate change. Don’t forget to sign up and let us know you want to join Earth Hour.

One hour, America. Earth Hour. Turn out for Earth Hour!

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

Taxpayers may deduct on Schedule A of Form 1040 mortgage interest on the purchase or home equity debt on two residences, their primary home and another dwelling, including a boat or a mobile home. These dwellings must have sleeping, cooking, and toilet facilities to qualify for a loan interest deduction. Interest paid on vacant land isn’t deductible.

Real estate taxes are deductible on all properties owned by the taxpayer — not just the first two. The deduction must be taken in the year the taxes are paid. Taxes placed in escrow are deductible when they are paid to the taxing authority, not when the money is put in escrow. Penalties and interest on late tax payments aren’t deductible.

Also, in order to deduct taxes and interest, the taxpayer must itemize instead of taking the standard deduction.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.
Source: Houston Chronicle, Shannon Buggs (03/27/08)

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

New Brunswick Cape Cod dream with view of Raritan River… Beautiful home with upgraded bath and kitchen, brand new appliances and gorgeous refinished hardwood floors…
http://www.ERA.com/fast/2339385 

North Brunswick Colonial Delight… Come feel the hospitality of this engaging 4BR/2+BA Colonial on a shaded cul-de-sac near public transportation. Ideal offerings include formal dining room, center hall and central vacuum system. Big & bright, with companionable comforts. Foyer, Andersen windows, heat-saving thermal glass. Custom blinds, jacuzzi, generously large bedrooms. Ceramic tile baths with Dual Vanities, spa, 2nd-floor laundry, underground utilities. Two-car garage, basement, deck. Large front porch, full landscaping. Here’s a jewel featuring neat extras. Superbly-kept.
http://www.ERA.com/fast/2429597

East Brunswick updated Split-Level… Visualize yourself in this fully fenced 3BR/2.2BA residence. Among its features are finished basement, enclosed patio and garage. Cathedral ceilings, hardwood & tile flooring, ceramic tile baths. Formal dining room, laundry room. Garner applause with this stand-out.
http://www.ERA.com/fast/2392199

East Brunswick Commuters Paradise Condo… Move-in condition + ideal location + easy closing = A Winner! This immaculate charming 1 bedroom condo features professional painting, a washer/dryer in the unit, easily maintained pergo flooring. Ideal for commuters. Walk to NYC bus and shopping. Why rent when owning this is so affordable?
http://www.ERA.com/fast/2428456

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

The theme of the conference was “Together as a Team” in effort to celebrate accomplishments, network, share ideas, learn about the latest tools and technology to grow the business, and enjoy the company of fellow peers. “Together as a Team” attendees cheered on ERA teammates, encouraged one another to reach new goals, and supported each other in building a stronger future. 

“The conference is the perfect time to find out about new business strategies and take advantage of my peer’s expertise. It’s a great learning experience and very motivating,” said Ya Mei Tong, Agent with ERA Absolute Realty in North Brunswick. “The company does a phenomenal job of making the conference both an educational and fun event.”

The keynote speaker for the event was Barbara Walters, news correspondent, journalist and co-owner, co-executive producer and co-host of “The View.” She addressed the conference at the general session held on February 27. The conference hosted various prestigious guest speakers, including the Olympian speed-skier, Vince Poscente, who addressed attendees on the need to embrace life’s rapid-fire pace instead of fearing it.

A general session was held right before the Opening Night Party where attendees celebrated the company’s accomplishments with their annual awards ceremony. During the event, they introduced the 2008 Muscular Dystrophy Association (MDA) National Goodwill Ambassador, Abbey Umali, and heard from recording sensation and MDA National Youth Chairman, Billy Gilman.

“We had the opportunity to reflect on the success of our 30th Anniversary with MDA and our $2 million donation total to commemorate this event. Together as a Team we will keep the momentum going,” said P.J. Martin Smith, senior vice president of marketing, ERA Franchise Systems LLC and MDA Vice President.

The conference included over 50 educational sessions designed to help attendees grow professionally and personally. Topics ranged from effective money management to conducting successful meetings to tips on negotiation.

For more information on ERA Absolute Realty, please contact Ya Mei Tong at 732-220-6611 x42.

The “Commitment to Excellence” award recognizes ERA Real Estate affiliates that possess a commitment to meeting the needs of their customers, community, and the ERA brand. To receive this honor, ERA companies must meet a variety of criteria, including consistent participation in and support of ERA Mortgage, ERA Select Services® programs, and the Muscular Dystrophy Association - the franchise’s national charity - to demonstrate excellence, ethics and values. Additionally, companies are required to submit a written business plan and demonstrate profitability in an annual financial report.

“Being recognized for our commitment to excellence is an honor and speaks very well of our entire team,” said Scott Lauri, Broker/Owner. “Each member of our company embodies an unparalleled spirit of dedication to the ERA brand and its customers, and this award is a reflection of that commitment.”

About ERA Absolute Realty
The Lauri family founded ERA Absolute Realty in 1998 and had 6 sales executives serving only Middlesex County. In 2001 the company brought on some additional executive staff with the additions of partners Scott Lauri and Arthur Lauri III. Now ERA Absolute Realty has over 30 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties. learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611 or visit www.HomesOFNJ.com.

I expect the impact of these loan limit increases on the housing market to be significant because of the infusion of capital into the mortgage market, which should result in lower interest rates across the board. In addition, there will be a direct impact on high-cost areas that previously required borrowers to take out costlier jumbo mortgages.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

Relocating can be particularly stressful for families with children. Younger kids may not express a reluctance to leave their old, familiar home, but they may react poorly as the process unfolds. Older children, especially teenagers, may vehemently object. “It’s my life too!”As parents, you can do a variety of things to bring the kids on-board for a move. Communication is key–listening to your kids’ concerns and letting them know you understand how they feel. Preparation is important too. Give your children lots of information about the new location, helping them visualize a great new life in an interesting place. Then get them involved shopping for the new home, visiting schools, making lists–anything that shifts their focus forward.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

“In 1998, we affiliated with ERA Real Estate, becoming part of a worldwide network of real estate companies that share a service-oriented philosophy,” said Scott Lauri, Broker/Owner. “Today we celebrate our successes and take pride in delivering the best possible service, with cutting-edge real estate products that meet the specific needs of buyers and sellers in North Brunswick.”

The Lauri family founded ERA Absolute Realty in 1998 and had 6 sales executives serving only Middlesex County. In 2001 the company brought on some additional executive staff with the additions of partners Scott Lauri and Arthur Lauri III. Now ERA Absolute Realty has over 30 sales executives and serves Middlesex, Mercer, Monmouth, Ocean and Somerset Counties. To visit with one of the sales executives at ERA Absolute Realty visit online at www.HomesOFNJ.com or call at 732-220-6611.

About ERA Absolute Realty
To learn more about ERA Absolute Realty and the award-recognized programs and services they provide, call 732-220-6611.  We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

One option for buyers who otherwise might consider home prices beyond their reach is the property that pays for itself: a house you live in part of and rent the rest of. This offers not only an obvious balance of cost and income, but perhaps lesser-known benefits in taxes and mortgage. The rental units can be depreciated over time; considered to offset the rental income, this can lower your taxes on that income. At the same time, the rent’s addition to your finances helps you qualify for a larger mortgage, and investors who occupy their rental properties can, under certain conditions, get interest rates lower than those who do not. (A professional like those at ERA Mortgage can tell you more.) Of course you’ll want to decide if the demands of being a live-in landlord are for you (and find out if rent-control laws in your area might limit the return on your investment).

If being an offsite landlord is more appealing, you could always keep your current home as a rental after you move into the new one. Your long-tern familiarity with the home’s features and condition could lend a certain confidence both to yourself and your potential tenants. As with any investment property, you’ll first want to calculate whether the rental income will make up for the needed expenses. (This is another consideration in which a qualified real estate sales professionals can help, with his or her knowledge of the local rental market and its prospects over time.) And of course being a long-distance landlord has its headaches too, so you have to enjoy the challenge and be ready to meet the needs.

But if solving problems appeals to you, then you may even prefer a fixer-upper to your familiar former home. With a thorough inspection to answer any questions, and a realistic budget and disciplined schedule to handle all improvements, your outlays can prove to be well worth it. Renovations can range from reconfiguring the floorplan to simply replacing a now-unfashionable décor. The attraction of “move-in” quality can draw renters who share your appreciation of state-of-the-art living but not your passion for the do-it-yourself effort behind it.

Owning an income-generating property is not for everyone, but – from younger buyers offsetting their purchase costs, to seniors easing the expenses of their retirement years – it can be for all kinds of people. Talk to a real estate sales professional to find out if rental property would be double trouble or two times the success.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

Here we are seeing the increased activity in sales in South Brunswick for single family homes.  but in the table below you will notice there was a small .2% increase in sales price for South Brunswick.  The one thing to keep in mind is that you even within a town there will be pockets of positive sales and negative sales.  Recently we have been see that homes price over $600,000 are see the more negative of this market as opposed to those homes price in the $400,000 to low $500,000 price ranges.  In North Brunswick one thing to keep in mind when you hear all the media reports of a decline in the real estate market of 10% is that you need to know what they are talking about.  In this town the number of homes sold might be down but the prices are only effected by 2% decline.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

• If you are going to be in a home for more than two years, now is the right time to buy. Prices may still move lower this year, but based on statistics compiled by NAR*, they are expected to go back up before you plan to sell and you can take advantage of the more favorable mortgage rate.
• Get pre-qualified for a mortgage as soon as possible so you can make an offer before someone else does – more people will be out shopping for homes in a higher price range.
• If you saw a dream home you couldn’t afford last year, look again. Two trends are moving in the buyer’s favor – the price may have dropped and you will be able to afford a bigger mortgage at a lower interest rate.
• Sellers should not hold back at a time when more buyers are becoming qualified to get a larger mortgage. This program may not continue beyond this year. 
• Timing the market is not possible. While you may have to sell for less than you would have received a year ago, you’ll make it up on the lower purchase price of your next home and lower financing costs.

According to NAR research:·        Increasing FHA loan limits will help an additional 138,000 Americans achieve the dream of homeownership and will allow nearly 200,000 homeowners to refinance and potentially keep their home. ·        NAR believes that increasing the loan limits for Fannie Mae and Freddie Mac will bolster the severely stressed housing finance market by immediately infusing much needed liquidity into the nation’s mortgage market. “While such an increase will not solve the full range of housing challenges, it will play a vital role in improving the nation’s economy and making the dream of homeownership more attainable for thousands,” said NAR President Richard Gaylord.·        An economic impact study conducted by NAR earlier this month estimated that increasing the GSEs’ (Fannie Mae and Freddie Mac) conforming loan limits would result in as many as 500,000 refinanced loans and could help reduce foreclosures by as much as 210,000. ·        In addition, over 300,000 additional home sales could be generated, housing inventory would be reduced and home prices would be strengthened by two to three percentage points. “These are real results and will have an immediate and sustainable impact for families across our country,” said NAR President Richard Gaylord. * NAR Hails Passage of Economic Stimulus Package to Help Jumpstart Housing Market; available: http://www.realtor.org/press_room/news_releases/2008/nar_hails_passage_of_stimulus_package.html 

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.