Tic Toc; 10 Days and Counting in Ocean County, NJ!

Only 10 Days Remain for Home-Buyers to take advantage of the Tax Credit in Ocean County, NJ!

What does this mean for "First Time" Home-Buyers in Ocean County?

It means; if you are NOT "under contract" on your new home by April 3oth, 2010, you are NOT eligible for a Tax Credit of up to $8,000!

What does this mean for "Repeat Buyers" in Ocean County?

It means; if you are NOT "under contract" on your new home by April 30th, 2010, you are NOT eligible for a Tax Credit of up to $6,500!

What does this mean for Home-Sellers in Ocean County, NJ?

It means, on May 1st, 2010, your home will be worth LESS than it is today as the artificial demand created by the Tax Credit will dissappear!

Won't the Government "extend" the Tax Credit again?

NOT likely! All indications are the Tax Credit will be history come May 1st, 2010!

What could I still do to make the deadline?

Contact a professional real estate agent right away! There is still plenty of inventory available and as long as you are "under contract" by the April 30th deadline (and meet the other requirements to qualify), you are eligible to receive the Tax Credit, provided you "close" on your new home in Ocean County, NJ, by June 30th, 2010!

OPEN HOUSE: 124 Siddons Court, Island Heights, NJ 08732 for $995,000

Just listed: 124 Siddons Court, Island Heights, NJ 08732 for $995,000

30 Days and Counting; Don't Be An April Fool!

April Fool's Day is the perfect opportunity to take a little liberty and express an opinion in a manner which may appear a little unorthodox on other days. So, here goes:

Happy April Fool's Day!

And the rest of the day to you...

5 Reasons to buy that home in Toms River, NJ, NOW!

5 Reasons to buy that home in Toms River, NJ, NOW!

In his excellent post, 5 Good Reasons to Buy that Home NOW!, Steve Harney details exactly why this may be the best time to buy a home. We’ve taken Steve’s 5 reasons and specifically applied them to buying a home in Toms River, NJ.

1) The Homebuyers Tax Credit

As of this post, there are 37 days left for prospective homebuyers to take advantage of the Tax Credit (up to $8,000 for “First Time Buyers” and up to $6,500 for “Move Up Buyers”). More good news; current home prices in Toms River, NJ, literally ensure the maximum Tax Credit! Even more good news; homebuyers ONLY need to be “under contract” by April 30th, 2010 and “closed” by June 30th, 2010! To see if you may qualify, please visit http://www.realstorynj.com/Home-Buyer-Tax-Credit#FTB

2) Low Mortgage Interest Rates Currently Available

The Fed announced they would discontinue buying mortgage backed securities effective March 31st, 2010. What does that mean for prospective homebuyers in Toms River, NJ? It means the rare, historically low, mortgage rates will begin to climb out of the 5’s and some even speculate we may see 7% mortgage rates again! For current rates visit http://www.bloomberg.com/markets/rates/keyrates.html

3) Location, Location, Location or Inventory, Inventory, Inventory

It’s the “Law of Supply and Demand”! With over 17 months worth of available inventory on the market in Toms River, NJ, homebuyers literally have their “pick of the litter”. That means; if NO other homes were to come on the market in Toms River, it would take over 17 months to sell off the existing inventory of homes at the current sales pace. To see more Toms River, NJ, market statistics, visit http://www.trulia.com/real_estate/08753-Toms_River/market-trends/#average_listing_price_chart_container

4) Real Estate Has Always Been A Good Long Term Investment

Even though home prices in Toms River, NJ, may continue to fall slightly in 2010, the real estate market has historically outperformed the stock market, including over the past decade! We are seeing price levels near the 2004/2003 levels in Toms River, which means when the real estate market rebounds (which it always does and some say it is poised to do so now), homebuyers in Toms River, NJ, could expect to see a return on their investment.

5) The House Is A Home First and An Investment Second

A “Return to Basics” value has replaced the “Credit Card” mentality of home ownership as a result of the “Great Recession”. Homebuyers in Toms River, NJ, are looking for the necessities that a shelter provides and the comfort of a home rather than “get rich quick”, flipping mentality of HGTV’s mid-decade seasons. A home in Toms River represents a marriage, family, childhood and/or a lifetime memory!

What Does This Mean To You?

If you have been thinking about or considering, whether or not this truly is “a good time to buy” a home in Toms River, and you are looking to settle down and enjoy the comforts of home ownership, then perhaps it is time to act and buy a home in Toms River, NJ, now?

What the Tax Credit means for Home-Sellers in Ocean County, NJ!

I was taking advantage of the "snowicane" last night by catching up on the lives and adventures of my "friends" on FaceBook, when I read an article posted by Keeping Current Matters. Now, I am already a "fan" of The KCM Crew but this particular post, "Success Strategies for March", really got me thinking:

• Do home-sellers understand the Tax Credit?
  
• Are their real estate agents explaining the significance of this "window of opportunity" to them?
  
• Do real estate agents realize it is their fiduciary responsibility to make their sellers aware of the significance of pricing their home right, right now?
  
• Do home-sellers realize their home is WORTH MORE NOW than it will be on May 1, 2010?

So, I decided not to take any chances, threw my boots on and trudged through the "snowicane" to the office in order to make this short video and sleep well tonight!

And the rest of the day to you...

Snowmageddon and the Tax Credit

With just over 2 months left for prospective home-buyers to find their new home and enter into a contract, in order to take advantage of the $8,000 and $6,500 Tax Credits, the last thing we needed in Ocean County, NJ, was a ton of snow in February. Why?

Watch Jim Flanagan, Broker of Record, Coldwell Banker Flanagan Realty, as he shows us why:

90 Days to Cash In On the Opportunity of a Lifetime in Ocean County, NJ

TODAY officially marks "90 days" for Home-buyers to be "in contract", in order to take advantage of the TAX CREDIT!

The recently "extended" and "expanded" Home-Buyer Tax Credit expires on April 30th, 2010, but allows until June 30th, 2010, for qualified home-buyers to actually close on their new home. That means qualified home-buyers ONLY have 90 days to take advantage of what Jim Gillespie, CEO of Coldwell Banker Real Estate Corporation, calls; Triple "I" P!

What does Triple "I" P stand for?

• The first "I" stands for INVENTORY! Currently, there are 3798 single family homes "For Sale" in Ocean County, NJ. This represents a "saturation factor" of almost 21 months (how long it would take to sell of the existing supply of homes if no other homes were to come on the market)! Translation; there are plenty of homes to choose from!
  
• The second "I" stands for Mortgage INTEREST Rates which remain at historically low levels! Some economists are already predicting rising mortgage rates as early as the second quarter of 2010. Translation; waiting may cost you MORE in the form of a monthly payment!
  
• The third "I" stands for INCENTIVES! Aside from the standard tax deduction which comes with Home Ownership, Home-Buyers may be eligible for up to an $8,000 Tax Credit this year! Translation; if you buy a home before April 30th, 2010, you could get a check back from Uncle Sam of up to $8,000!
  
• And last, but not least, the "P", which stands for PRICES! The average sales price of a single family home in Ocean County, NJ, was $342, 378 in 2009, as compared to $373,775 in 2008. Translation; home ownership has never been more affordable!

In a nutshell; the factors which comprise Triple "I" P will disappear in 90 days! Will you look back at this historic opportunity to buy a home in Ocean County, NJ, as the wisest decision you ever made, or the biggest mistake (not buying now)?