Buying a Home in NJ

Posted by the Asbury Park Press on 03/23/06

OCEAN GROVE — In its heyday, the 255-room North End Hotel offered saltwater baths, a bowling alley, a movie theater and a merry-go-round.

Now the site, 3.2 acres near the Asbury Park boundary, is a dirt lot with an abandoned building that was once a public cafeteria, a shell of a pool defaced with graffiti and high weeds where homeless people sometimes sleep.

But the Ocean Grove Camp Meeting Association, which owns almost every slice of land in this section of Neptune that was once known as God's Square Mile, recently approved a developer's plan to build a hotel, a pool, condominiums, retail and commercial space and a parking area on the lot.

That approval, from the association's board of trustees, is the first of many that will be needed before WAVE, Wesley Atlantic Village Enterprises LLC, can break ground on Spray Avenue near Wesley Lake.

One of the principals of the development company, William P. Gannon III, said he and other investors remember when the north end was the place to go in Ocean Grove, and they hope to make it a popular spot again.

"We want it to be the gem, the anchor of the north end, and we want it to serve the community like it used to," said Gannon, who is also an attorney whose practice is in Ocean Grove.

Mindful of town's past

Camp Meeting Association members wanted a development consistent with Ocean Grove's heritage, said Scott Rasmussen, president of the association.

"We're excited about this project," he said. "Obviously, what we're talking about has to be updated for the 21st century, but we wanted it very much to fit in with the look, feel, and architecture of the community."

Ocean Grove was founded in 1869 by the Camp Meeting Association, a group of Methodist ministers. The association still owns almost all of the land there, and the trustees now include both clergy and Methodist lay people.

The community, a national historic site, is filled with Victorian-era architecture and was one of the first planned communities in the United States. Approaching the ocean, streets get a bit wider and houses are required to be set back from the road a bit more, so residents who live two blocks from the beach still get a sea breeze and an ocean view, Rasmussen said.

People who buy homes in Ocean Grove do not own the land. They get a 99-year renewable lease and pay annual rent to the association.

Details of the proposed hotel's lot lease are still being worked out, but it will renew automatically.

David M. Shotwell Sr., the Camp Meeting Association's administrative officer, said the project is a way to help "bring the glory days back and make better use of this kind of site. . . . It kind of parallels the development going on in Asbury Park."

William Bruck, 65, lives in a nearby condominium.

"I think progress and people at the Shore is always a good plan," he said. "My only concern has been provisions for parking."

All summer, events in Ocean Grove draw crowds from as far away as Massachusetts and Pennsylvania, he said. The Spray Avenue lot has been an overflow spot for parking when no other places can be found.

"It's a great place to be, but you can't find a parking place," Bruck said.

Gannon agrees that parking is a problem, and addressing it is key to the development plan, he said.

Lake dredging pondered

The developers also want to work with the Wesley Lake Commission to bring more public access to that waterway, perhaps dredging the lake and bringing swan boats back.

Years ago, the North End Hotel was connected to the Ocean Pavilion building, on the beach side of the boardwalk, by two enclosed walkway bridges that hung over the boardwalk, Gannon said. The developers are negotiating with the owner of the pavilion with the hope of bringing back those walkways, he said.

Gannon said he could not yet offer specifics about the number of condominiums or the size of the hotel because plans are still in the early stages.

Now that the development group has received the go-ahead from Camp Meeting Association trustees, it must be reviewed by government, including a state agency that will determine if the plans comply with the Coastal Area Facility Review Act, the Monmouth County Planning Board, and Neptune's historic preservation committee and zoning board.

"So we have a lot of things to consider, and all of those agencies, as well as the community, is going to shape what ultimately goes there," Gannon said.

The goal is to break ground in 18 months to two years, he said.

The Gannon family is well known in Ocean Grove. But Gannon said that although he and his brother, Paul, a builder, are principals of WAVE, that company is a separate entity from the Gannon companies.

"We also have local investors in WAVE with us, because like us, they grew up in the Grove or around the Grove, and it used to be a great spot to go," Gannon said. "People in WAVE are excited about building this project. It's not just another development, but it's a part of history. They have historic and emotional attachments to this dirt."

We have hundreds of listings of homes for sale in your area. If you are interested in buying a house feel free to search through our database. This is a free service and we have a low pressure policy. There is a lot of property for sale in New Jersey.

AREA -- For nearly 100 years, Realtors have subscribed to one of the oldest codes of ethics for trade groups in the country. As members of the National Association of Realtors, all 55,000 members of the New Jersey Association of Realtors (NJAR) have pledged to uphold that Code. This week, with the premiere of advertising spots entitled, "Someone You Can Trust," the National Association of Realtors explains how its Realtor members' adherence to that Code serves and protects the public. Today's home buyers and sellers confront real estate realities never envisioned 100 years ago, with disclosure requirements, environmental regulations, and an expanding universe of mortgage and financing options. More than ever, home buyers and sellers need to know that their real estate professional is someone they can trust.

"Consumers deserve and demand honesty, integrity, and commitment from the Realtors they have selected to represent their interests," says NJAR President Bonnie Fitzgerald. "The Realtor Code of Ethics is a comprehensive code of conduct that goes beyond state licensing requirements. Real estate professionals who are not Realtors do not subscribe to this Code. Home buyers and home sellers who choose a Realtor to protect their interests know he or she will act in a fair, professional and ethical manner not only with them, but with other members of the public and other Realtors.

Consumers can learn more about the Realtor Code of Ethics by visiting www.realtor.org/codeofethics or by asking a Realtor for a copy of the Code.

We have many listings of homes for sale. There are townhomes for sale, homes for sale, condos for sale, lots for sale and real estate for sale, residential and commercial. So, come inside and search through thousands of listings of homes for sale in New Jersey and all other NJ real estate.

SOMERVILLE -- The community leaders positioned the little blocks on the model like they were playing Monopoly, lining up a row of real estate investments.

Only, they weren't playing a game -- they were hashing out the borough's future.

Almost 40 community representatives gathered at the Somerset County Juror's Assembly Room on Saturday for the first of two large scale design workshops to create a vision for the redevelopment of the landfill. After a day of becoming familiar with the redevelopment site and brain storming ideas, group members "developed" up the area using different miniature building replicas, street grids -- all to scale -- on a model of the borough.

Three visions created at the meeting will be presented at a large scale community design workshop, where the public will be invited to shape their own vision for the future of the landfill. From that meeting, the borough hopes to form a redevelopment plan and expects to have proposals for developers by November.

"This is 20 years in the making," Mayor Brian Gallagher said. "The residents of Somerville have been waiting a long time for this process."

By forming its own ideas and vision for the property, the borough has the discretion to select a developer that it feels will respect its values and plan. "We are in a different position than having a developer come in and present something to us and us reacting on it," said Robert Lane, of the Regional Plan Association. "We are the developers on this thing."

The group, made up of borough officials, employees, committee and commission members, business owners, land owners and residents will serve as facilitators of next month's public design workshop. They were charged with creating places, not just buildings that would include commercial and residential areas that would encourage pedestrian, cyclist and mass transit users. To do that, they needed to become familiar with the property and redevelopment options before offering their ideas on what Somerville needs.

The redevelopment site is approximately 115 acres and included the landfill, the NJ Transit property and other adjoining parcels of land. The landfill is the last and largest undeveloped site in the borough.

On the sunny, near 70-degree day, the stakeholder group was bused to the landfill site along Route 206 and South Bridge Street, where many stood in awe of the view. With an elevation higher than most of the rest of the borough, participants could see the tops of downtown buildings and church steeples in the distance.

"This is where all our garbage used to go," said borough Councilman Thompson Mitchell, of the site that operated as a landfill from 1959 to 1984.

The stakeholders broke into smaller groups and visited areas on the outskirts of the redevelopment site including the train station property, Holly Glen Road, Route 206 and Washington Place.

The train station, said the group, is an ideal area for community gatherings.

"We need some sort of square or community space," Environmental Commission member Tom Auffenorde said. "Right now, it's a parking lot. But it could be more than that. Connectivity (to the landfill site) is essential here. We need a wide sidewalk that's inviting."

Councilwoman Jane Kobuta toured the Holly Glen area and would like that neighborhood to remain intact.

"I lived in those apartments for 15 years, so it's in my heart," she said. "It's a very nice residential area with a lot of positives. I would like to see it stay residential. But there's a lot of traffic on South Bridge Street. That's something we'll have to tackle."

The landfill, piled high with mounds of dirt and compost, currently serves as the borough's facility for yard waste.

"It's right in the heart of Somerville," said Meg Walker of the Project for Public Spaces, one of the facilitators of Saturday's meeting. "It's got amazing opportunities for a mixed use neighborhood."

After returning to the Juror's room, the community leaders voiced their ideas for the property.

"How about an office building with the upper floors looking out on the Duke Estate and the other side, facing downtown," said Councilman Sean Decker. "There'd be great views."

His father, Phil Decker, who serves on the Parking and Traffic Committee as well as the Historical Advisory Commission, suggested building a hotel. "Imagine looking over the Raritan River," he added.

Other ideas included sports fields, a community center, cafes, shops, apartments and walking fields, cinemas, a new library, and a cultural or performing arts center.

"How about a community garden," said Councilman Dennis Sullivan. "That's got to go over here on Bridge Street to give people who don't have a garden some green space."

"Let's make a park so you have some place to take your girl for a walk," added Janet Aaronson. "If you're underage and you want to go some place, there's really no place to go."

Throughout the workshop, participants were careful not to suggest projects that would compete with Somerville's downtown. But for most attendees, that was not a problem.

"You can't recreate a town that's over 100 years old today," Sean Decker said. "It's going to have its own flavor."

The groups even compiled a list of what they don't want to see at the site, which included single-family detached housing, big box stores and strip retail.

The attendees didn't look at their responsibilities as work. Instead, they were excited for the challenge and the opportunity to help create a bright future for the borough through the hands-on activities.

"We're thrilled to be a part of this," said Vivian Baker, of NJ Transit, which is partnering with the borough on the project. "This is great. We're touching buildings and rolling up our sleeves. It's not just looking at something conceptual. I just love the model."

Even those whose properties are included in the redevelopment zone saw the need for this type of community workshop.

"I'm losing both my properties to this redevelopment," said Art Madrazo, owner of Richards Fuel. "Do I like it? No. But I can see what the town needs. The town needs access to the landfill. Where is that access? At Richards."

Workshop facilitators called Saturday a success and are looking forward to the public event, scheduled for late April.

"We all set very high standards and we exceeded that," Gallagher said. "Our closing time was set for 2 p.m. and nobody wanted to leave."

Real-estate value increases continue to mask substantial spending growth by Gloucester County government. If there were any question about that, Thursday's front-page headline settled it:

"County tax rate cut = higher taxes."

Someone could get blue in the face trying to explain why, considering New Jersey's goofy property taxation rules. But suffice it to say that when the value of all county housing and other property zooms, the county's "take" at a stable countywide tax rate also zooms.

That's how the freeholders can trim 5.1 cents per $100 off last year's rate, and still make the average homeowner in Deptford pay $70.65 more to the county this year. While the average increase in Deptford is among the largest, the county's bill will increase in all but three of its 24 municipalities.

What's important here is not so much the mechanics, but the leeway that they grant the all-Democrat freeholder board to spend with abandon.

Even with the "rate cut," the county will collect $8.8 million more in property taxes in 2006. It's a staggering 7.8 percent -- more than double the inflation rate.

Some of the increase will come from brand new homes and businesses, which represent real growth. But not all of it will, a fact made abundantly clear when a working family in Clayton has to fork over $13.33 more on average, or a fixed-income couple in Pitman needs another $35.63.

Freeholder Director Stephen Sweeney says it would have been worse for taxpayers if the freeholder board had not cut the countywide rate this year.

It's almost as if Sweeney had said: We'll spend what we want to spend, and you homeowners, be thankful, because we could have spent a whole lot more.

That's really a problem, isn't it?

It's not that more spending is "bad" or that residents are crying for cuts in county services. It's that there is so little accountability when these rate cuts provide cover for more and more spending.

This is what leads to massive building projects that are OK'd with seemingly little public input or consensus. It's what enables the hiring of selected friends, relatives and political supporters for cushy county jobs. It is how campaign contributors get fat contracts for services that don't require lowest-bidder awards.

Election returns that keep putting the Democrats back in power suggest general satisfaction with what Gloucester County residents get for their tax dollars. But that should never be mistaken for authority to keep spending more, just as long as it doesn't push up that "countywide tax rate."

There is a ceiling. The freeholders need to do a better job of seeing when people are starting to brush against it. Let's not govern Gloucester County to the brink of a taxpayer revolt. That won't be good for anybody.

By Matt Shupe

If you are trying to find a way to make money you may think of the stock market or high interest savings accounts as a place to invest your money in order to get a good return. However, real estate is another option to think about. Is it a good investment?

In the US, most houses increase in value by approximately five per cent a year. Of course, this can vary depending on the geographical location and also the economy so that one year you may not see an increase at all and the next it may leap in value by up to 25 per cent for example. However, research shows that on average over the past decade, house prices have increased by ten per cent a year. The amount of profit on this is actually lower than you could make on the stock market and so those looking for a fast way to earn millions may well be put off this type of investment. However, if you look at the figures involved you can see it is actually a much better investment than you first thought.

If you are looking to buy a house that is on sale at $200,000 you are likely to require a mortgage in order to secure the sale. For this example, lets say you have a $40,000 deposit in cash to place against the property. This is the amount of money you could have invested in the stock market. In one years time your house will have increased in value by five per cent, meaning its value will have increased to $210,000. This gives you a profit of $10,000 in a year. This level of return is possible through wise investment in other fields but when you consider that you have made $10,000 profit on your initial investment of $40,000 that five per cent increase becomes a 25 per cent increase. This is an excellent level of return on your investment that would be difficult to achieve elsewhere. In addition to this, you always have a level of security with real estate as you have actually purchased something tangible and this will continue to be yours, whereas there is always a high level of risk associated with stocks and shares.

Of course, of you have purchased a home with a mortgage, as per the previous example, you will be making monthly repayments. If you have purchased the property as somewhere for you yourself to live you were probably renting prior to this. When renting you are simply throwing money down the drain so you can be satisfied that your mortgage payments are contributing directly to your ownership of the property. This will allow you to make even more money off your investment in future years should you choose to sell as you will own a greater proportion of the house outright.

If you bought the property as a buy-to-let investment you will need to be sure that the amount of rent you will make from your tenants will cover your mortgage costs. In addition to this, you will need to have funds available to enable any repairs that are required to be completed quickly in order to ensure that you are not in breach of your rental agreement. If you are considering buying a property in order to rent it out I highly recommend you seek professional advice before committing yourself so that you can be sure that it will not end up costing you more per month than it is making you.

 The author regularly contributes to Hot Housing Markets where more real estate investing help and local real estate price data is freely available.

If you need assistance selling your house ERA Othello Realty can share their expertise and experience with you in a friendly and professional manner.  From all aspects of selling your house: from getting a qualified CMA (Comparative Market Analysis) to advising you on the presentation of your house, marketing your home online and in print, conducting an open house, showing your house within your guidelines and discretion, constant communication, negotiating the best price for your home and being with you until closing and beyond.  We can also assist you in your search for a new home.  Please call us at 732-364-2015.

By Martin Lukac

In the last few years, homes have became increasingly owned by single homeowners. Many single people are realizing that there are many benefits to owning a home that aren't just for married couples.

Single homebuyers face unique challenges in buying. They have to compete with dual-income households, which can be tough when the market is hot and competition is fierce.

But whether you are single or married, some real estate basics hold true. For example, the biggest decision factor for both continues to be the old and true -- location, location, location. The neighborhood, price, and closeness to work, school, family and friends are important factors to consider in a home.

With the ever-present economic uncertainty and high home values in many areas, many single homebuyers wonder if they can afford a home. With rising interest rates, this is a valid worry.

In many areas, inventory is slim. Sellers are receiving multiple offers. If you find a home you like, you better be ready to jump on it.

Be ready. Spend time getting your finances in order. Compare different mortgages and lenders so that you find the best plan for you and your financial situation. Go ahead and get pre-approved once you find the right lender. Not only will you know exactly how much you can spend, but you have an extra edge when placing an offer. Most sellers in a hot market only accept offers from pre-approved buyers.

Make sure you know what your requirements are before you begin looking. Think about the square footage, number of rooms and neighborhoods. This will save you time in your search by narrowing down the properties to only the ones that fit your needs.

Consider buying a condo or townhouse. Usually more affordable, this type of housing offers little upkeep, close neighbors and community facilites, such as a pool or workout room. But keep in mind that condo living means little privacy outdoors and virtually no back yard. If you like to entertain outside, it may not be for you.

Keep in touch with your agent throughout the search. Let your agent know that you are a serious buyer. Make sure that he or she understands your needs. You want your agent to call you first when a new listing hits the market. Don't be afraid to search the MLS listings online and then call your agent with any properties you are interested in.

Remember that there is no such thing as a perfect home. Decide what aspects of a home are most important to you. You may find that you are willing to sacrifice, for example, an extra bedroom for the perfect location close to work.

Base your bid on what you want to offer, not what you think other people will offer. Don't let yourself be stretched farther than you are comfortable with just to get the home.

Don't be shy. If you find a home that fits your criteria, jump on it. When markets are hot, as many are in the metro areas, you can loose a home by hesitating. Ask your agent how long you have to decide and take their advice. If they say you have to decide within a few hours, you have to decide. Good Luck!

AUTHOR: Martin Lukac, represents, #1 Loans USA (http://www.1LoansUSA.com), a finance web-company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more. For mortgage rates please visit http://www.RateEmpire.com

Please call us at 732-364-2015 and see what ERA Othello Realty can do for you and your real estate needs. We specialize in handling all aspects of real estate transactions throughout the New Jersey.  Whether you wish to buy a home or sell a home we will be there every step of the way.  From searching for your dream house, finding the home, negotiating the price, assisting with financing, inspection and at the closing ERA Othello Realty can help you buy your home.

By Sharon Listner

You can tell real estate is hot, when you neighborhood grocer is thinking about switching his line of work and becoming a "flipper". If you are new to real estate, "flipping", a word that will become familiar to you, in no time, is the process of buying an investment property and selling it, soon thereafter. Usually, the property is put up for sale after sprucing it up with some paint and upgrading some fixures in the bathroom and kitchen.

The crazed real estate market over the past 5 years has nudged "wannabes" into the real estate arena. Our former federal reserve chairman described it best, when he coined the now famous term "irrational exuberance". In other words, speculation with no backbone.

So can you really make money in real estate?

Yes. Without a doubt!

An experienced real estate investor does not fear dips in the market because their actions are not based on speculation. They invest by doing their homework and truely understanding, what they are getting in. If you are considering getting into the real estate market, follow these tips:

1. Read as much as you can about the real estate investment industry. When you think, you've read enough - read more. People who excel in any field, never stop learning.

2. Find a mentor, who can teach you the ropes. Maybe you can ride with them as they scout properties, draw contracts and settle on real estate deals. Gain knowledge about how they find the "gem" deals. The difference between a serious investor and an amateur is that a guru can find a deal that is a guaranteed winner,an amateur may find a deal that they think is a winner but the deal may turn sour. Do your howework.

3. Join your neighborhood Real Estate Investment (REI) club. You will meet many experts as well as newbies, that are in your shoes. This is your chance to build relationships. Every business centers around relationships - especially in real estate. Infact, this may be how you find mentor.

The first deal will be the most difficult. You will ease into the process after your initiation. You will also start building wealth through accrued equity in your properties. You can either "flip" your properties or you can hold on to them and become a landlord. Both have their advantages. One offers instant gratification and the other allows you steadily accumulate properties.

If you are a homeowner, you can finance your real estate investments with equity in your home, by getting a HELOC, home equity loan or doing a cash out refinance.

For home equity loans, HELOCs and cash refinance loans, visit www.kstreetloans.com

Sharon Listner writes about real estate and finance. Visit her website: http://www.kstreetloans.com to learn about equity loans.

We have hundreds of listings of homes for sale in your area. If you are interested in buying a house feel free to search through our database. This is a free service and we have a low pressure policy. There is a lot of property for sale in New Jersey.

By John R. Blakefield

1. Know You're Ready

You must be ready to buy a home physically, financially and emotionally. Your own home is a great freedom, but also a great responsibility. If you have a steady income for over two years that is reliable, have paid your bills on time and have a good record, have few large, long term debts such as a car or boat, have a credit score that qualifies you for a decent loan that will not make you pay too much in interest, have money saved up for a down payment, and have the ability to pay a monthly mortgage payment plus additional costs that come along with owning your own home.

These costs may include gardening, maintenance, home-owners fees, trash, water, and other bills associated with day to day living in a home. You may say, well I am paying many of those bills now and I'm renting, so I should be able to afford a home. Keep in mind that when you are a home owner, you are completely responsible for all aspects of the home, and you will not have a land lord to turn to fix major problems or maintain the grounds.

Some first time home buyers do not realize how much effort and money can go into a home especially if they want to make upgrades, decorate according to individual tastes, or simply furnish a third room that was not in an apartment. However, if you have been able to cover all these issues and realize the responsibility that comes with owning a home, then you are ready to buy!

2. Decide How Much You Can Afford

Deciding how much you can afford can be tricky, especially since you must consider interest and the costs associated with a mortgage. Your monthly payment will depend on the type of mortgage and the interest rate. Of course, the better your credit, the better loan you will be able to get.

A financial advisor can help you determine how much you can really afford a month according to your current income, total expenses, the amount of money you can put down, and of course the loan terms you can qualify for. Although it is better to get a good mortgage with a lower interest rate, there are options for every home buyer.

Be sure to contact your local bank or financial professional for assistance. There are also many tools on-line that can assist you in finding how much you can afford. For example, a mortgage calculator and figure monthly payments, interest, and principal payments quickly.

3. Locate Your Community

When buying a home, it is important to live in a community that fits your every day to day lifestyle. For example, if you enjoy peace, quiet and small local stores and friendly relationships, a rural city would be best for you. However, if you enjoy the hustle and bustle of walking, driving and meeting new and different people on a daily basis, the big city might be right for you.

Many people know exactly where they want to live so go with your instinct and find things in the community that you feel are important, such as good schools, great restaurants, libraries, fishing, terrain to ride horses, surfing, and so much more. Talk to people who live in the community you are considering and see what they like and dislike about the area they live in. Above all, you should feel comfortable and happy where you live which may seem obvious, but this step is one of the most important when buying a home and some people don't pay enough attention to it.

3. Scan the Environment for Homes

You have to start somewhere when you begin your house search. I do not recommend that you hire a real estate agent right away, but rather check out local listings in the newspaper, take a drive in different neighborhoods if close enough, and get a feel for the different areas to live within the community. Check out the style of the homes, what condition they are in, what houses are selling, and surrounding shopping centers, stores, and services.

It is important to see asking prices of the homes you are considering to make sure they are within your budget. There is no sense in looking in areas you know you can't afford. Instead, focus on finding beautiful properties in the areas you can afford. No time will be wasted and you will have a good idea as to what type of home you want and in the area that is best for you.

5. Get a Real Estate Agent

After you have done your own preliminary work, and feel you could use the help of an agent, go for it. They can assist you further by giving you inside real estate and community information that can only strengthen or deter your decision to buy a home in that specific area.

Also, agents can intensify your search by showing properties they know of or may be coming on the market soon. They can keep an eye out for properties they know will meet your already decided qualifications. The more specific you can be when going to an agent, the better help they can be to you. If you are going to buy a home, get exactly what you are looking for, or know you can easily change it by some upgrades or individual style. Don't settle if you know what you want is out there.

To find an agent, ask for referrals from trusted sources such as friends, family, and co-workers. Your agent should be friendly, trust-worthy, have the right credentials, which include a license and exclusive agreement with a broker, and of course be willing to listen to you and what it is you want. Don't let them show you homes that are not within your price range or not what you are looking for. They are working for you, so be sure to stay in a dominating, but friendly position.

6. Look at Homes

This can either be great fun, or grueling work! It depends on your specifications and well, how picky you are! Have fun looking at properties, but be sure to always be inspecting the foundation, the condition of both the interior and exterior. You need to play detective to make sure the home is in good condition and there are no major problems with it.

The agent and seller must disclose all information to you about ht property including both the positive and negative aspects about the home. This includes any plumbing problems, water damage, termites, soil problems, mold, and so on. So while you are enjoying the homes, be sure you ask about these things that may need repair or even replacement.

You need to also be looking as such things as the floor plan, space that is adequate for both the present and the future, the number of bathrooms and bedrooms, if there is an office or bonus room, the size and quality of the kitchen, and if the home will be pleasant all year around, if there is snow, rain or sunshine. Is there a yard that is big enough, a dog run, pool, spa, or patio that will be great for a Saturday afternoon lounge or BBQ. Make sure your basic qualifications are covered, and then look for the bonuses! Almost every home has them.

7. Choose a Home

So you found the home that meets all your needs, in the community that best fits your lifestyle, at a price you feel is negotiable. The next step is to negotiate a deal. Now, I am not going to get into negotiation, because the price paid for a house depends on many factors such as market value, appraisals, upgrades, local comparable properties, and personal assessment. However, your agent can help you determine an offer that will make both you and the seller happy. Always remember the offer is negotiable, so negotiate! You can always submit multiple offers until accepted.

8. Get a Mortgage

You should have already tested the water with this when determining if you were ready to buy a home. Remember? You should already have a good idea as to the loan you could both get and afford. Once again either your financial advisor or broker can help with this. Now that you have chosen the home, know the purchase price, and have a certain amount of money to put down, you can actually get the loan and purchase your house!

There are many places to find home loans, including banks, lending institutions, both private and public, and mortgage companies themselves. This can take some searching and effort to find the best deal, so you may want to have your agent and broker help you with this. That is what they are there for use them! There are so many options you will no doubt find a situation that is right for you individual circumstance.

This is also the time to purchase home owner's insurance. This will be required at the signing of the papers. Do not forget this, because you must have documentation at signing that you have paid your home insurance premium.

9. Offer and Loan Accepted- Sign the Papers

On closing day you will present your home owner's insurance policy and the closing agent will list the money you owe the seller which my include the down payment and prepaid taxes. The seller will then present you with proofs of inspection, warranties, and any other documentation that is pertinent to the sale of the home.

After carefully reviewing all the documentation, and checking all disclosure agreements very carefully, you can sign the papers and mortgage, promising to pay your monthly mortgage based on the terms you and the lender agreed upon. You will most likely pay all closing cots and be provided with a record of where all your money went as well as the deed to the property. The deed will be recorded in the State Registry of Deeds, and you are officially a home owner!

Make sure you are clear on all terms, conditions and have read all parts of the sales agreement. Don't rely solely on your agent, because ultimately, you are responsible for the agreement. If you nee assistance, you can always hire a lawyer to review the contract, especially if there are special terms.

10. Move!

After everything has closed and cleared, you can move into your new home! You have successfully bought your first home and will enjoy all the benefits of your very own, private home.

I hope you use these 10 tips as a good guideline for purchasing your first home. Always be ready for unexpected events, as things do not always go as we plan. Also, if you need assistance in any area of buying your home, know that there are many resources available to you including financial advisors, agents, on-line tools and books. Don't do anything you do not understand or are not sure about. Good luck and have fun!

AUTHOR: John R Blakefield is a mortgage and real estate specialist. For more information, articles, news, tools and valuable resources on home mortgages or investment loans, refinancing, debt solutions, visit this site: http://www.scourtheweb.com/mortgage.

We have many listings of homes for sale. There are townhomes for sale, homes for sale, condos for sale, lots for sale and real estate for sale, residential and commercial. So, come inside and search through thousands of listings of homes for sale in New Jersey and all other NJ real estate.

State real estate auctions sell off real property that has been seized, abandoned, or forfeited. The Department of Treasury has been designated as the state department to handle such auctions. Typically, they conduct 100 auctions a year.

The funds obtained at state real estate auctions help support local and state police and other areas of the city. The placement of a successful bid at a Department of the Treasury auction establishes a legally binding contract between the successful bidder and the Government.

Here are some basic rules and policies: To be eligible to bid you must be 18 years of age and not an employee of the state. You cannot be the contractor, subcontractor or vendor or their agent who has access to information about the property. A bidder registration form must be submitted for approval. If bidding for someone else, the form must be notarized. Buyer is to inspect property prior to placing a bid. Changes may be made on the day of the sale. The Government reserves the right to withdraw from sale any of the property listed. The buyer understands the property is sold on the "AS IS" basis.

A lot of rules and regulations govern state real estate auctions, and it is wise if you take the time to research them prior to attempting to attend. Each registered bidder will be issued a bidding number. This is your lifeline to what is important on that day. Don't loose it.

Most importantly enjoy yourself at a state auction. The properties auctioned off are very valuable and should bring you a good return.

Author: Paul Schmitt likes to explore and experience many kinds of interest. I enjoy watching movies, reading books and pets. I have a couple dogs that I enjoy very much. I enjoy buying and selling real estate through auctions for more information on real estate auctions, visit http://www.state-real-estate-auctions.blogspot.com I enjoy writing on many topics that can help people out.

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By Dennis P. Carmody, Asbury Park Press, N.J.

Mar. 9–For Melissa Kiss, it’s a simple matter of math.

“I’m paying $1,310 a month for rent,” said the 28-year-old school teacher who is single and lives with her mother above the pet store that her mother co-owns in Brick. “I’m looking at that number and thinking, ‘That’s a mortgage payment.’”

Like millions before her, Kiss has realized there’s not much financial point to throwing her money away on rent each month, when instead she could be paying off a mortgage and building up equity in a home of her own. So the elementary school teacher is now looking for a house to buy in the Brick area.

She is not alone. According to the National Association of Realtors’ annual survey of buyers and sellers, 21 percent of home buyers last year were single women. By way of comparison, single men make up 9 percent of the market.

Buying a home is still something done mostly by married couples — they make up 61 percent of home buyers, according to the survey.

But the findings on single people represent a real difference in the way men and women live. In 1981, the first year the survey was conducted, the number of single women and single men home buyers was virtually the same — 11 percent for women, 10 percent for men, said Walt Moloney, spokesman for the association.

“Nowadays, women are not waiting to start their lives,” said Stacey Rose, a licensed clinical social worker who offers counseling services at the Rose Relationship Learning Center in Ocean Township.

Women are focused more on building their professional careers, and so they’re naturally drawn to the financially wise decision of owning a home rather than renting, she said.

“They don’t need a man to buy a house,” Rose said. “They’ll pick up a relationship along the way.”

One factor at work may simply be the traditional difference seen between men and women and their approach to commitments and risk.

“Women are more apt to want permanency and men are less apt to want to settle,” she said.

The survey doesn’t ask single men and women why they are buying homes, Moloney of the Realtors association said.

“It may be as simple as guys don’t get serious about real estate until they meet the right woman,” he said. “It seems like women have a better sense of the value of real estate.”

Sometimes that can be seen even with married couples, said Mark Kotzas, owner and broker of Crossroads Realty, Dover Township. “Women are the decision makers,” he said. “They worry about school districts, neighborhoods, etc. Husbands worry about the mortgage mainly.”

In years past, when the numbers were closer to equal, that comparatively lower percentage of single female buyers may have simply represented an untapped demand for housing from single women, who 25 years ago still had a harder time getting credit and often had a greater income disparity with men than they do today, Moloney said.

Men and women may simply grow up with different attitudes toward building a home, said Fred Kelly, dean of the School of Business at Monmouth University in West Long Branch.

“The male concept of setting up a household is not something that’s bred into them or genetically part of their nature,” he said. “Women prefer the safety and security that a house provides.”

Sometimes simple practicality might explain the disparity.

“A portion of that 21 percent (of women home buyers) would be single parents, and moms tend to raise the kids more than dads,” said Don Moliver, director of the Real Estate Institute at Monmouth University.

That thought was echoed by Darleen Palmizio, a licensed clinical social worker at Associated Counseling Services in Manasquan. Single mothers often wind up with primary custody of the children, while divorced fathers in contrast, often rent an apartment just big enough to host the children during their days of custody, she said.

Additionally, it may be difficult for single fathers to afford a home of their own, she said. “Child support eats up a lot of your pay,” she said.

Kiss, a teacher at Bay Head Elementary School, wants a three-bedroom house, so she and her mother, Dawn, will have rooms for themselves and for the reiki business they are starting, a kind of stress-reduction therapy. But given her $220,000 maximum price range, she’s finding the same frustrating search that many first-time home buyers are facing, no matter what their marital status.

“I’m seeing a lot of things that are overpriced for what they’re offering,” she said.