Get the REAL Story(R) on New Jersey Real Estate

Podcast: Top Issues in New Jersey Real Estate - Part 2

Tue, 27 Jul 2010 14:28:24 -0400

Women & The Housing Market

Tue, 27 Jul 2010 12:53:44 -0400

My Fox Philly: Several reasons for the increased purchasing power of unmarried women in the United States, according to the National Association of REALTORS®.

New York Couple becomes New Jersey homebuyers after seeing only two homes

Fri, 23 Jul 2010 09:14:59 -0400

Myrna and Felix never thought they would move to New Jersey. Native New Yorkers, they had been living in Queens and working in the city all their lives. Both of Myrna’s children, decided to settle down in the Garden State. Her daughter moved to New Jersey about 10 years ago, and her son followed in 2007. When they saw their son’s Manalapan neighborhood, they decided to stop taking long car rides to visit him and to buy a home there instead.

Obama Administration Housing Scorecard Shows Continued Increase in Home Affordability, Neighborhood Stabilization

Thu, 22 Jul 2010 09:30:33 -0400

RISMedia - July 22, 2010: The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury recently released the second edition of the Administration’s Housing Scorecard showing that, thanks in part to interest rates continuing at all-time lows, home affordability in the U.S. remains near the most attractive levels in 10 years.

Tips for Staying Afloat and Avoiding the Underwater Mortgage

Wed, 21 Jul 2010 14:19:44 -0400

Many New Jersey families are struggling to meet their monthly mortgage payments and reports indicate that New Jersey currently ranks 11th in the nation for foreclosure filings. Prolonged unemployment and other financial pressures are forcing many Garden State residents to take a close look at the balance of their mortgage and the value in their homes. These families are finding that they may owe more than their home is currently worth.

Ninety Percent of Americans Do Not Regret Buying Their Current Home

Wed, 14 Jul 2010 10:23:44 -0400

RISMedia - July 14, 2010: A new study released by Bankrate, Inc. and conducted by Princeton Survey Research Associates International shows that, even with home prices sliding and mortgage rates the lowest in decades, the vast majority of Americans do not regret buying their current home.

Commercial, Maurice River townships haven't seen home prices dip during downturn

Mon, 12 Jul 2010 13:59:38 -0400

Press of Atlantic City - July 11, 2010: Home prices may have dipped during the ongoing recession, but the cost of many properties in two rural Cumberland County municipalities have remained fairly stable.

Despite recession, building homes by ocean, bays still popular

Mon, 12 Jul 2010 13:59:21 -0400

Press of Atlantic City - July 10, 2010: Mike Donahue, an Avalon-based home builder, pulls back the curtains of a beachfront house he built in Brigantine, revealing a spectacular, postcard-perfect view of the dune grass, sandy beach and rolling ocean that are all directly beyond the edge of the property.

Taking the hit-or-miss out of a short sale

Mon, 12 Jul 2010 13:59:01 -0400

Washington Post - July 10, 2010: The federal government's Home Affordable Foreclosure Alternatives program, or HAFA, announced in April, may actually achieve some success where its predecessors have failed.

Homes Getting Smaller and Other Trends

Mon, 12 Jul 2010 13:58:44 -0400

Chicago Tribune - July 9, 2010: Two new sets of research provide plenty of insight about how we’ve gotten used to living and also offer a glimpse of what we might want next.

President Signs Tax Credit Extension Into Law

Tue, 6 Jul 2010 13:06:56 -0400

President Obama signed HR 5623, the Homebuyer Assistance and Improvement Act of 2010, into law on July 2, 2010, extending the closing deadline for buyers who qualified for the federal tax credit. The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to extend the closing deadline for eligible transactions to September 30, 2010. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.

Congress Passes Home Buyer Tax Credit Closing Deadline Extension

Thu, 1 Jul 2010 12:53:30 -0400

After a close brush with the deadline, Congress has passed an extension of the home buyer tax credit closing deadline as part of the "Homebuyer Assistance and Improvement Act" or H.R. 5623. The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to extend the closing deadline for eligible transactions to September 30, 2010. There is will be no gap between June 30 and the date that the President signs the bill into law. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.

House Passes Tax Credit Deadline Extension

Wed, 30 Jun 2010 11:00:45 -0400

The United States House of Representatives passed H.R. 5623, the "Homebuyer Assistance and Improvement Act of 2010", by a vote of 409-5. This bill extends the deadline for closing tax credit eligible transactions from June 30 to September 30, 2010. The bill now moves to the Senate where its outcome is uncertain. The NATIONAL ASSOCIATION OF REALTORS® (NAR) will continue to work to move the legislation forward.

Podcast: Top Issues in New Jersey Real Estate

Wed, 23 Jun 2010 17:02:59 -0400

Jarrod Grasso, Chief Executive Officer of the New Jersey Association of REALTORS® (NJAR®), met with NJAR® President Judy Appleby to discuss the top issues affecting buyers, sellers and homeowners in the Garden State. Part one of this two-part series examines the real estate market in a post- tax credit world, the impact of foreclosures and much more.

Retirees, second-home purchases may soon boost southern New Jersey real estate market

Mon, 21 Jun 2010 14:37:25 -0400

Press of AC - June 20, 2010: The improving job market may be enough to support housing growth now that federal homebuyer incentives are finished, Harvard’s Joint Center for Housing Studies said Monday in its annual State of the Nation’s Housing report.

New Database Connects Buyers and Sellers with REALTORS®

Wed, 16 Jun 2010 09:16:37 -0400

Finding a REALTOR® just became a lot easier. Today, the New Jersey Association of REALTORS® (NJAR®) unveiled a new search function that will allow consumers to locate and connect with REALTORS® across the Garden State to get professional assistance with all their real estate needs.

Pending Home Sales Surge Continuing

Wed, 2 Jun 2010 16:37:26 -0400

HouseLogic - June 2, 2010: Pending home sales have risen for three consecutive months, reflecting the broad impact of the homebuyer tax credit and favorable housing affordability conditions, according to the National Association of Realtors.

NJAR® Housing Opportunity Foundation and Partners Present Free Financial Seminar

Wed, 2 Jun 2010 12:42:56 -0400

The New Jersey Association of REALTORS® Housing Opportunity Foundation, Inc. (NJARHOF) is proud to announce its latest endeavor to educate and empower New Jersey's consumers. Through its Helping Hands Towards Homeownership program, NJARHOF will be partnering with the Somerset County Coalition on Affordable Housing (SCCOAH) and TD Bank to present a financial literacy workshop on June 9th and June 16th at the Hunterdon/Somerset Association of REALTORS®' office.

As home sales grow, mind state's 'affordability index

Tue, 1 Jun 2010 12:47:13 -0400

Trenton TIMES - May 28, 2010: New Jersey has outpaced the nation when it comes to sales of homes. According to figures recently released from the National Association of Realtors, New Jersey was one of only three states that showed positive growth in sales volume from the fourth quarter of 2009 to the first quarter of 2010. Michigan and Wyoming are the other two.

WORRIED ABOUT FORECLOSURE? HAFA May Be Able to Help

Tue, 1 Jun 2010 12:21:35 -0400

New flyer added to the "Facing Foreclosure?" resources page.
"Keeping families in their homes is a top priority for REALTORS®. Unfortunately, it is not always possible to meet this goal. While there are loan modification and other programs that can help families, not everyone will qualify. For many families who are at risk of losing their home through foreclosure, a new program from the Treasury Department may be able to help you..."

Strong Markets Pump Up Home Sales

Fri, 28 May 2010 11:44:33 -0400

While the winds of the housing recovery continue to blow at a moderate pace across the country, in the New York metropolitan area, it's a nor'easter.

Crazy for Cranford: New Yorkers won over by this New Jersey town's all-American charm

Fri, 21 May 2010 12:41:56 -0400

NY Daily News - May 21, 2010: For some, house hunting is like a whirlwind romance or dramatic breakup, but for Christine and Bill Dyer, it was more like a long-drawn-out courtship. During their search, the former Manhattan residents managed to tour 45 New Jersey homes from Essex to Morris Counties.

Where are They Coming From and Where are They Going?

Thu, 20 May 2010 12:18:04 -0400

The New Jersey Association of Realtors Governmental Research Foundation released a report detailing the migration patterns of people moving in and out of New Jersey.

New Jersey bucks national trend in real estate; can we keep it going?

Thu, 20 May 2010 12:17:46 -0400

Vineland Daily Journal - May 20, 2010: New Jersey has outpaced the nation when it comes to the sales of homes. According to figures recently released from the National Association of Realtors, New Jersey was one of only three states that showed positive growth in sales volume from the fourth quarter of 2009 to the first quarter of 2010.

Op-Ed: How N.J. will keep its national lead in home sales

Wed, 19 May 2010 16:55:45 -0400

The Record - May 20, 2010: NEW JERSEY has outpaced the nation when it comes to the sales of homes. According to figures recently released from the National Association of Realtors, New Jersey was one of only three states that showed positive growth in sales volume from the fourth quarter of 2009 to the first quarter of 2010.

New "State of the Market" Video

Wed, 19 May 2010 16:51:23 -0400

NJAR®'s "State of the Market" messages provide consumers, legislators and REALTORS® with quarterly updates on the condition of the housing market and real estate industry in New Jersey. Check out the latest video where NJAR® Chief Executive Officer Jarrod C. Grasso addresses some of the market highlights from the 1st quarter of 2010.

Sizing up vacation destinations

Mon, 17 May 2010 09:47:11 -0400

The Real Deal - May 01, 2010: From the splashy beaches of the Hamptons to the rolling hills of the Berkshires, the vacation home markets popular with New Yorkers have been hit hard by the downturn.

More U.S. home sellers cut prices as tax credit ends

Wed, 12 May 2010 14:10:16 -0400

Reuters - May 12, 2010: More U.S. home sellers cut their listing prices in April, aiming to seal deals in the waning days of federal tax credits meant to revive housing, real estate web site Trulia.com said on Wednesday.

North Jersey home prices steady in first quarter ends

Wed, 12 May 2010 14:09:56 -0400

The Record - May 11, 2010: Home prices in the New York metropolitan area, including North Jersey, rose slightly in the first quarter of 2010, in another sign that the housing market may be stabilizing.

Home prices in area rise; another sign of recovery

Wed, 12 May 2010 14:09:29 -0400

Asbury Park Press - May 11, 2010: The median price for a home in the area that includes Monmouth and Ocean counties rose 1.5 percent in the first quarter, another sign the housing market is stabilizing, the National Association of Realtors said today.

Should you buy or rent a home? Cost gap narrows

Mon, 3 May 2010 15:51:56 -0400

The Associated Press - May 3, 2010: Thinking of buying a home? Consider this: The gap between monthly rents and mortgage payments is at its lowest level in almost 20 years.

Shore's summer rental market remains unsteady

Mon, 3 May 2010 15:51:37 -0400

Asbury Park Press - May 2, 2010: Jim Fuhse has rented property in Manasquan to summertime tourists since the early 1990s, through recessions and expansions, through sun and rain, so he can attest: This season is just, plain strange.

Realtors wait, wonder, worry about impact as hefty tax break expires for first-time buyers

Mon, 3 May 2010 15:51:24 -0400

Courier News and Home News Tribune - May 2, 2010: Realtors across Central Jersey say the federal government's $8,000 tax break for first-time buyers helped drive home sales, though they wonder what's to come now that the program ended Friday.

Mortgage Rates Stay Above 5%

Fri, 30 Apr 2010 11:01:26 -0400

HouseLogic - April 30, 2010: Average rates for 30-year fixed mortgages slipped this week, but stayed above 5 percent for the fifth straight week, Freddie Mac said Thursday.

Time to Buy a Home? Yes, But Keep an Eye on Local Data

Mon, 26 Apr 2010 10:56:56 -0400

ABC News - April 23, 2010: You may be still reeling from the housing crash, or recovering from unemployment. But if you can afford to pull together a down payment on a home, consider making that investment now, experts say.

Need a new agent? How to decide

Mon, 26 Apr 2010 10:15:50 -0400

The Record - April 25, 2010: Suppose you're trying to sell your house, but it's languishing on the market. Or you're seeking to buy, but the right house is not appearing. Is it the real estate agent's fault? Is it yours? How do you decide whether to change agents or reconsider your own behavior?

Home Sales Boosted by Homebuyer Tax Credit

Thu, 22 Apr 2010 12:14:12 -0400

HouseLogic - April 22, 2010: Buyers responding to the homebuyer tax credit and favorable affordability conditions boosted existing-home sales in March, marking the beginning of an expected spring surge, according to the National Association of Realtors®.

REALTOR® Association and Housing Foundation Present Free Programs to Benefit Public

Mon, 12 Apr 2010 15:49:59 -0400

April 12, 2010 - The New Jersey Association of REALTORS® (NJAR®) is proud to announce various endeavors to educate and empower New Jersey's consumers. Through its Helping Hands Towards Homeownership program, the NJAR® Housing Opportunity Foundation, Inc. (NJARHOF) will be partnering with TD Bank and HOMEcorp to present a financial literacy series on April 13th and April 20th at the Montclair Library. The NJAR® Get the REAL Story® public education campaign is presenting a free webinar, or online seminar, on April 22nd to address common real estate questions.

Recent doldrums don't diminish trend of strong area home values

Mon, 12 Apr 2010 10:25:23 -0400

Press of Atlantic City - April 11, 2010: The southern New Jersey housing market is emerging from the severe real estate downturn with home values remarkably intact.

New Fannie Mae Survey Finds Enthusiasm, Caution in Home Buyers

Wed, 7 Apr 2010 14:12:05 -0400

NJ 101.5 - April 7, 2010: A new survey from mortgage giant Fannie May shows most people still believe home ownership is the American dream of dreams. But after years of foreclosures and housing bubble bursting, they are sadder but wiser.

Home Buying Q & A Webinar April 22

Thu, 1 Apr 2010 14:41:14 -0400

A panel of experts from NJAR® and real estate related fields will lend their expertise about the home search process, financing, and all of the steps necessary to obtain a home and achieve success in New Jersey's real estate market. After the discussion, the panel will open the floor to direct questions from webinar attendees.

Home sales fell in North Jersey in 2009

Tue, 30 Mar 2010 10:20:35 -0400

The Record - March 28, 2010: North Jersey home prices dropped 8 percent last year, falling to their lowest level since 2004 and draining billions of dollars from the housing market.

REALTORS® Statewide Take Part in Nationwide Open House Weekend

Tue, 30 Mar 2010 10:14:27 -0400

March 30, 2010 - The spring home buying season is in full swing and so is spring cleaning as REALTORS® across the state prepare to showcase their inventory to prospective buyers during a nationwide Open House Weekend on April 10 and 11, 2010. The New Jersey Association of REALTORS® (NJAR®) is urging those who are considering buying a home to take advantage of this statewide opportunity before the federal tax credit extension expires on April 30, 2010.

Real Estate Experts Say Now is the Time to Buy a Home at the Shore

Fri, 26 Mar 2010 13:00:52 -0400

NBC40 - March 25, 2010: If you've always dreamed of owning a home by the shore, real estate experts want you to know that dream is closer to becoming a reality than you may think.

Homebuyers rush for credit where credit is due (to expire)

Mon, 22 Mar 2010 11:04:51 -0400

Press of AC - March 21, 2010: The Ocean County Board of Realtors' Web site prominently shows off a clock counting down the days and hours - and even minutes and seconds - until a federal tax credit for many homebuyers expires April 30.

IRS Wants Paperwork to Back Homebuyer Tax Credit

Mon, 22 Mar 2010 10:20:06 -0400

Detroit Free Press/Houselogic - March 18, 2010: First-time homebuyers could fill their empty rooms with some really nice furniture once they collect the cash from much-talked-about tax credits. But be prepared for plenty of paperwork - and a longer-than-usual wait for a refund - if you are claiming the homebuyer’s credit.

REALTORS® Offer Tips on Buying a Shore Home

Thu, 18 Mar 2010 11:11:12 -0400

(Edison, NJ) - Record-low mortgage interest rates and high affordability have combined to make the dream of owning a home near the New Jersey shore a reality for an ever growing number of families according to the New Jersey Association of REALTORS® (NJAR®).

Mortgage Rates Remain Below 5%

Mon, 15 Mar 2010 10:45:11 -0400

HouseLogic - March 11, 2010: Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.

Couple Moves from Small Rental to Roomy Home at the Jersey Shore

Wed, 3 Mar 2010 16:53:17 -0500

Stephanie and Michael moved from Philadelphia to a rental in North Brunswick in 2005, after they both got new jobs in New Jersey. After a few years in the small rental, they felt the apartment was getting too small for them, and knew the market was right to try and buy. Find out how they took advantage of the market here.

Selling a home?

Mon, 1 Mar 2010 11:19:13 -0500

Shop Passaic & Morris - February 27, 2010: There’s a saying, "When the going gets tough, the tough get going." This motto certainly applies to real estate agents who are competing for your attention in these trying financial times. However, regardless of the economy, the real estate business has always been very competitive, said Stephanie Singer, a spokesperson for the National Association of Realtors (NAR).

Does the Home Sale Slump Have You Stumped? Close the Deal With Expert's Tips

Mon, 1 Mar 2010 11:18:42 -0500

ABC News - February 26, 2010: New home sales are at an all-time low, and the market isn't expected to recover anytime soon.

Despite Grim News For New Home Sales, Existing Home Sales In NJ Show Growth

Mon, 1 Mar 2010 11:18:18 -0500

WBGO News - February 25, 2010: The US Commerce Department is reporting that new home sales have plunged to a record low, but the New Jersey Association of Realtors says the market for EXISTING homes is experiencing a steady recovery.

First-time homebuyers can take advantage of incentives

Mon, 1 Mar 2010 09:42:30 -0500

Courier Post - February 28, 2010: First-time homebuyers in New Jersey have two legs up in their quest to become property owners.

Northeast Home Sales Up From Year-Ago Levels

Mon, 1 Mar 2010 09:42:09 -0500

New York Times - February 26, 2010: Home sales in the Northeast tumbled from December to January, but were still 17 percent above year-ago levels, the National Association of Realtors said Friday.