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

HMFA extends its first-time homebuyers 'pre-fund' program

Thu, 4 Mar 2010 12:11:19 -0500

PARSIPPANY LIFE - March 3, 2010: For first-time homebuyers thinking of buying their first home in New Jersey, the combined incentive and mortgage programs from the New Jersey Housing and Mortgage Finance Agency (NJHMFA) and the federal government have never been better. New Jersey residents who plan to buy their first home in 2010 are encouraged to act quickly to take advantage of a program that grants interest-free loans to assist first-time buyers with closing costs or down payments.

First-time homebuyers still have time to claim a tax credit for 2009

Thu, 4 Mar 2010 12:10:55 -0500

Star-Ledger - March 3, 2010: Every year, the tax law changes as the government tinkers with deductions and income limits to force taxpayers to sharpen their pencils as April 15 approaches.

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.

IRS clarifies documentation needed for tax credits

Mon, 22 Feb 2010 12:06:41 -0500

The Washington Post - February 20, 2010: Despite back-to-back snowstorms that shut federal offices for days, the Internal Revenue Service issued new guidance last week on the two tax-credit programs that are powering the country's real estate markets -- the $6,500 credit for repeat buyers and the $8,000 first-time-buyer credit.

Home prices in Monmouth and Ocean counties fall 4.7 percent

Thu, 11 Feb 2010 12:09:41 -0500

Asbury Park Press - February 11, 2010: The median price for a single-family home in the area that includes Monmouth and Ocean counties declined 4.7 percent in the fourth quarter of 2009 as the housing market continued to stabilize, the National Association of Realtors said Thursday.

Foreclosures Fall 10% in January, But Remain 15% Higher Than a Year Ago

Thu, 11 Feb 2010 12:09:16 -0500

Daily Finance - February 11, 2010: The good news about real estate is coming in dribs and drabs, camouflaged by an ongoing flow of bad news. According to RealtyTrac, U.S. foreclosure filings fell 10% in January from December, but they remained 15% higher than a year earlier. That means that one in every 409 U.S. housing units received a foreclosure filing in January, which is still quite high.

Distressed Sales and the Home Buyer Tax Credit

Thu, 11 Feb 2010 11:21:59 -0500

March 25, 2010
3:00 PM

Households in markets with high numbers of distressed sales face tough challenges using the home buyer tax credit before it expires April 30. (Transactions in process by that date have until June 30 to close). This webinar presented by the NATIONAL ASSOCIATION OF REALTORS® (NAR) will look at what you need to know to overcome some of the most common hurdles to closing short sales and REO transactions in the remaining months before expiration of the tax credit. Principal presenter is noted distressed-sale speaker Scott Thompson of ServiceLink.

Couple Retires in Time to Take Advantage of Tax Credit

Thu, 11 Feb 2010 11:11:46 -0500

Jack and Barbara, a couple from Colonia, New Jersey retired to be closer to their son, buying a home in time to take advantage of the expanded home buyer tax credit. The credit was originally available only to first-time buyers, but through April 30, repeat buyers can also claim up to $6,500. Find out how they were able to retire to a new home with the help of their REALTOR®.

Free Webinar for homebuyers in N.J.

Thu, 11 Feb 2010 10:25:49 -0500

Philadelphia Inquirer - February 10, 2010: The New Jersey Association of Realtors is offering a free Webinar on how first-time homebuyers can lock into $8,000 tax credits before April 30, when they are set to expire.

NEW JERSEY REALTORS® SHED LIGHT ON HOME BUYER TAX CREDIT SPECIFICS

Tue, 9 Feb 2010 16:04:02 -0500

With the home buyer tax credit expiration date less than 85 days away, the New Jersey Association of REALTORS® (NJAR®) and its approximately 50,000 members are helping buyers understand the "tax terms" and "legalese" of the federal home buyer tax credits, available to first-time and repeat buyers who enter into a "binding" contract by April 30, 2010.

Couple Goes Back Home to Jersey

Tue, 9 Feb 2010 16:03:49 -0500

New Jersey natives, Alisa and Jon, had been living in New Orleans for six years when they decided that it was time to move back to the Garden State. They missed their friends and family, and made the choice to get back to their Jersey roots and settle down close to their loved ones. Find out how they made their way back home here.

Dissecting the Home Buyer Tax Credit: Details to Help You Make the Most of this Opportunity

Fri, 5 Feb 2010 12:04:47 -0500

A free webinar, open to the public, will be held on Thursday, February 18, 2010 from 4:00 p.m. to 5:00 p.m. to address specific instances of: 1) who's eligible to receive a home buyer tax credit, and 2) how to claim this money from the federal government.

Register by visiting www.realstorynj.com/home-buyer-tax-credit-webinar

Northeast tops U.S. average in pending home sales

Tue, 2 Feb 2010 16:59:18 -0500

NJ Biz - February 2, 2010: New Jersey and other Northeastern states put up a stronger show than the nation as a whole in pending home sales in December compared to that of a year earlier, according to an index released Tuesday by the National Association of Realtors, in Washington, D.C.

FORECAST 2010: Is real estate turning the corner?

Mon, 1 Feb 2010 10:39:56 -0500

Daily Record : January 31, 2010 - Real estate professionals around Morris County agree: If the next 11 months are anything like the last few months, 2010 could be a pretty good year.

Maybe last year wasn't so bad for southern New Jersey's real estate market

Mon, 1 Feb 2010 09:32:33 -0500

Press of Atlantic City : January 31, 2010 - The widespread belief that real estate had a terrible 2009 is being disproved by the data for the southern New Jersey market released this week.

Couple takes advantage of HMFA pre-fund program

Wed, 27 Jan 2010 14:27:09 -0500

Upon discovering that their family of two was going to become a family of three, Tiffany and PJ, began to look for a more spacious place to live. After considering upgrading their rental to a two-bedroom apartment, PJ realized that buying a home was more within reach than they originally thought.

Home sales drop beyond expectation

Tue, 26 Jan 2010 09:25:06 -0500

Courier Post - January 26, 2010: Sales of existing homes, plumped up by government incentives in November, melted 16.7 percent in December, the largest month-to-month drop in 40 years. The steep decline, reported Monday by the National Association of Realtors, was worse than the 10 percent drop predicted by economists.

Prefund provides advance on tax credit refund

Thu, 21 Jan 2010 15:48:24 -0500

The Ridgewood News - January 15, 2010:
Condo developers are doing more than crossing their fingers in hopes that their investments will grow in this economy. They have come up with recipes for success — like giving renters the opportunity to lease a luxury condo or auctioning condos off to buyers.

HUD Takes Action to Speed Resale of Foreclosed Properties to New Owners

Tue, 19 Jan 2010 10:56:02 -0500

RISMedia - January 19, 2010: In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan recently announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties.

Condo developers mix and match

Tue, 19 Jan 2010 10:55:24 -0500

The Record - January 17, 2010: Condo developers are doing more than crossing their fingers in hopes that their investments will grow in this economy. They have come up with recipes for success - like giving renters the opportunity to lease a luxury condo or auctioning condos off to buyers.

Home sales down; first buys up

Fri, 15 Jan 2010 13:56:42 -0500

Nutley Sun - January 14, 2010: There is widespread agreement that the real estate market will improve this year. Local and national realty forecasts, however, vary considerably regarding when, where and in what segments long-sought growth will appear.

10 Real Estate Facts for 2010

Thu, 14 Jan 2010 15:23:08 -0500

The turn of a new year comes with both question and promise regarding New Jersey real estate. To prepare for the year ahead, the New Jersey Association of REALTORS® (NJAR®) has assembled a list of ten facts regarding the current state of real estate to offer some perspective on what to expect in 2010.

Hottest and 'Not'-est Housing Markets of the '00s

Mon, 4 Jan 2010 13:00:33 -0500

Housingwatch.com: December 22, 2010 - Think back to New Years Eve, 1999. Most of us were more worried about Y2K and the incoming Bush administration (damn you Nader!) than whether or or not it was a good time to buy a house. If only we knew then, what we know now ... we probably would have bought in Fort Myers and have only made 0.5 percent over a 10-year period.

Experts say real estate market's rise seems certain, but timing isn't

Mon, 4 Jan 2010 11:27:37 -0500

The Press of Atlantic City - January 3, 2010: There is widespread agreement that the real estate market will improve this year. Local and national realty forecasts, however, vary considerably regarding when, where and in what segments long-sought growth will appear.

Housing recovery may be anemic

Mon, 4 Jan 2010 11:13:35 -0500

The Record: January 3, 2010 - After three years of hard times, analysts say, the housing market is likely to begin recovering this year. But between high unemployment and rising foreclosures, the recovery is expected to be weak and slow.

Trenton home prices seem to be recovering

Mon, 4 Jan 2010 10:56:42 -0500

Times of Trenton: January 3, 2010 - Housing prices in Trenton have dropped sharply over the past year and a half, but they appear to have begun recovering in the last few months.

Trying for a comeback: New Jersey's housing market in 2010

Mon, 28 Dec 2009 09:25:39 -0500

Star Ledger: December 23, 2009 - After putting the nation's economy through the spin cycle, the real estate market this year could take a break.

First-Time Home Buyers Active in New Jersey Real Estate Market

Wed, 23 Dec 2009 10:17:05 -0500

December 23, 2009 - RisMedia.com: According to the 2009 Profile of New Jersey Home Buyers and Sellers, first-time buyers account for a larger portion of the housing market than in previous years, largely due to the impact of the federal home buyer tax credit. The survey results released by the New Jersey Association of REALTORS® (NJAR) found the number of first-time buyers in New Jersey rose to 52%. First-time buyers accounted for 49% of all buyers in 2008 and only 36% of buyers in 2007. When asked about the primary reason for the timing of their home purchase, 46% of first-time buyers said it was just the right time.

Tax Credit FAQs Posted

Tue, 22 Dec 2009 14:38:03 -0500

Have questions on the tax credit? Get them answered with Get the REAL Story®'s list of Frequently Asked Questions (FAQs).

3rd Quarter Metro Market Reports Released

Wed, 16 Dec 2009 09:35:27 -0500

The NATIONAL ASSOCIATION OF REALTORS® (NAR) has released the metro market reports for the 3rd quarter of 2009. The metro market reports provide insights into the fundamentals and direction of the nation's largest metropolitan housing markets, evaluating a number of factors affecting home prices, including the local job market, foreclosure rates, housing inventory and debt-to-income and mortgage-servicing-costs-to-income ratios. Download reports for the Atlantic City, Edison, Trenton-Ewing, and Newark-Union regions here.

Less expensive homes are selling better than estate homes in today's market

Tue, 8 Dec 2009 09:58:29 -0500

Scarlet Scuttlebutt : December 6, 2009 - When Kathy Owens decided to help her mother sell the two-bedroom Bedminster town home this spring, Owens had one sales price in mind, and her mother had another. They turned to their real-estate agent, Peter Cagnasola of The Hills Realty, for advice.

In Monmouth, Ocean, home prices continue to fall, but buyers remain

Tue, 8 Dec 2009 09:56:56 -0500

Asbury Park Press : December 5, 2009 - After Kathy and Steve Lew put their four-bedroom home in Berkeley on the market for $425,000 in July, more than two dozen people checked it out. But the house remains unsold. "The biggest obstacle is they (prospective buyers) have to sell their house," said Kathy, a library assistant at the Ocean County Library's Plumsted Branch.

New Fact Sheet Posted

Tue, 1 Dec 2009 16:37:50 -0500

Get the REAL Story® on the extended and expanded tax credit with a fact sheet that outlines who is eligible, how much buyers can receive, and what buyers need to do to claim the credit before its April 30, 2010 deadline. Print this fact sheet out to pass along to all of your friends and colleagues interested in buying a new home.

3rd Quarter Housings Statistics Posted

Mon, 23 Nov 2009 15:34:27 -0500

The NATIONAL ASSOCIATION OF REALTORS® (NAR) has released the 3rd Quarter Home Sales Report. Check out the latest data on housing affordability in the Garden State here.

Extension of tax credit grants real estate agents' wishes

Tue, 17 Nov 2009 12:30:35 -0500

November 15, 2009 - Press of Atlantic City: Frank Dowd and Melanie Bankes were already thinking of making their home dream come true before the federal tax credit for first-time buyers appeared. "We were talking about buying a house sometime. Then the $8,000 credit came about, and we decided we couldn’t pass up a free $8,000," Dowd said this week.

More Glimmers of Improvement in NJ's Housing Market

Thu, 12 Nov 2009 14:15:30 -0500

Millenium Radio - November 11, 2009: There's more evidence that New Jersey's housing market is beginning to stabilize, and that home prices just may have bottomed out.

New Jersey home sales rise 18 percent in third quarter - update

Thu, 12 Nov 2009 14:15:19 -0500

Press of Atlantic City - November 11, 2009: U.S. home sales surged 11 percent in the third quarter - and 18 percent in New Jersey - as first-time home buyers seeking the $8,000 government subsidy rushed into the market.

N.J. homes sales jump 11 percent in quarter, while Atlantic County prices fall 10 percent from year ago

Tue, 10 Nov 2009 16:53:43 -0500

Press of Atlantic City: November 10, 2009 - U.S. home sales surged 11 percent in the third quarter - and 18 percent in New Jersey - as first-time home buyers seeking the $8,000 government subsidy rushed into the market.

NJAR® responds to third-quarter NAR report of home sales

Tue, 10 Nov 2009 16:42:01 -0500

New Brunswick Home News Tribune: November 10, 2009 - Responding to the National Association of Realtors' 2009 Third Quarter Metro Home Prices/State Resales report, New Jersey Association of Realtors Executive Vice President Jarrod C. Grasso, today issued the following statement: The real estate climate in New Jersey is heading toward stabilization.

Pressure's on first-time buyers

Mon, 9 Nov 2009 09:44:17 -0500

The Record - November 8, 2009: Dan and Jennifer McCarthy have been house-hunting for a year and a half, always keeping an eye on the guidelines for the temporary first-time home buyer tax credit offered by the federal government.

It's a Brand New Day for Home Buyers

Fri, 6 Nov 2009 14:43:00 -0500

(Edison, NJ) President Obama today signed legislation H.R. 3548, which includes a provision to extend and expand the $8,000 first-time home buyer tax credit. The New Jersey Association of REALTORS® (NJAR®) anticipates that the newly signed legislation will help maintain the recent momentum seen in the New Jersey real estate market and spur the state's economy as a whole.

Homebuyer Credit Extended and Includes Homeowners

Fri, 6 Nov 2009 10:42:53 -0500

President Obama is set to sign the newly extended homebuyers tax credit measure passed by the house Thursday. It's no longer just for first time homebuyers. Now buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. Realtors consider this a major victory. [Full Story]

NJAR®: Extension and Expansion of Tax Credit will Boost Housing Market

Thu, 5 Nov 2009 15:55:52 -0500

November 5 - Reacting to Congressional passage of H.R. 3548, which includes a provision extending and expanding the home buyer tax credit, the New Jersey Association of REALTORS® (NJAR®) Executive Vice President Jarrod C. Grasso, RCE, today issued the following statement.

Homeowner Realizes Dream at 57 Years Old

Thu, 5 Nov 2009 15:38:06 -0500

After years of renting, Cherry realized her dream of homeownership after turning 57 years old, taking advantage of buyer incentives and affordability that made it possible to buy the type of place she had always envisioned herself owning. Find out how she did it here.

Senate extends jobless benefits, tax breaks to homebuyers

Thu, 5 Nov 2009 15:15:11 -0500

The Associated Press - November 5, 2009: Congress is one vote away from sending the president legislation that continues aid to more than a million jobless people and extends tax breaks to hundreds of thousands of prospective homebuyers and struggling businesses. The legislation, recognizing the lingering distresses of the recession, passed the Senate Wednesday on a 98-0 vote and could come up in the House as early as today, sending it to President Barack Obama for his signature. [Full Story]

Housing Opportunity Guide Posted

Thu, 29 Oct 2009 11:44:26 -0400

A valuable tool for buyers and agents, the Housing Opportunity Resource Guide identifies the many housing programs available in New Jersey and provides contact and background information on each program, including details on the services they offer, from mortgage and financing aid to rental and other forms of assistance. Check out the guide in the "Buyers" section of www.REALstoryNJ.com for up-to-date information on the programs and services available to help people achieve their dreams of homeownership in New Jersey today.

Time winding down for home buyers: Push is on to extend tax credit

Tue, 27 Oct 2009 09:59:16 -0400

October 26, 2009: Asbury Park Press - With its expiration just over a month away, a push is on to extend the first-time home buyers' tax credit, which boosted the beleaguered housing market in the midst of a recession. Click here to read more about it.

Lots to offer at a reasonable cost

Mon, 26 Oct 2009 11:38:49 -0400

The Record : October 25, 2009 - Jill Rumorh has moved 10 times in the last seven years. After moving back into the area from Myrtle Beach, S.C., in 2001, Rumorh, today 39, and her family rented a home with less than 1,000 square feet from her mother in Pompton Lakes. But two years ago, as the buyer's market arrived and interest rates started dropping, the Rumorhs started house hunting. To read their story, click here.

Lance Says Now is Time to Extend Homebuyer Tax Credit; Expand It to all Home Buyers

Mon, 26 Oct 2009 11:34:41 -0400

EDISON, NJ - Today, Congressman Leonard Lance (NJ-07) joined officials from the New Jersey Association of REALTORS® (NJAR®) in support of extending the popular home buyer tax credit through 2010 and expanding it to all New Jersey home buyers. The current tax credit is expected to expire Nov. 30, 2009.

"Couple Buys First Home, Taking Advantage of $8K Credit" Video Posted

Mon, 19 Oct 2009 14:13:26 -0400

The latest Get the REAL Story® video featuring an engaged couple who could not pass up the chance to buy their first-home with the help of the $8,000 tax credit is now posted on www.REALstoryNJ.com.

Family Heads South for More Space, Homeownership

Wed, 14 Oct 2009 12:19:50 -0400

With their children growing, and their rental apartment seeming to get smaller and smaller around them, Jennifer and Jeffery decided it was time to buy a home with more space.

After looking casually at homes near their rental in North Jersey, they decided to move to a more affordable area in Monmouth County. To find out more about their home search, read the full story.

Couple Buys First Home, Taking Advantage of $8K Credit

Wed, 14 Oct 2009 09:25:16 -0400

Check out the latest Get the REAL Story® video featuring an engaged couple who could not pass up the chance to buy their first-home with the help of the $8,000 tax credit! Pass the link on to your friends and colleagues or post the video to your website and Facebook page. Spread the word about the great homeownership opportunities in New Jersey.

Also, could you please add the video to the Real Story Facebook page? It's posted on the wall, but I never seem to have much luck actually posting it permanently in the videos section.

Taking Advantage of HMFA Program, Woman Becomes Homeowner

Tue, 13 Oct 2009 11:11:14 -0400

Keisha enjoyed the Freehold apartment she shared with her young daughter and planned to buy her own home in late 2010, after saving up some money. However, in June 2009, her landlady decided to sell the building and asked Keisha if she wanted to purchase it. Keisha knew it was too expensive for her, but she was also uncertain of what would happen to her apartment once someone new purchased it, so she decided to take action and to start her path to homeownership a year early. To find out more about her journey, read the full story.

Home Run

Mon, 12 Oct 2009 15:10:13 -0400

Asbury Park Press - October 11, 2009: With time running out, the $8,000 tax credit for first-time home buyers has given the housing market a needed boost. [Full Story]

Move Afoot to Extend Popular Tax Credit for First-Time Home Buyers

Mon, 12 Oct 2009 15:09:39 -0400

Millenium Radio - October 12, 2009: REALTORS® say it's been a boon for home sales. Young home buyers say they been given a break. And now there's talk the first-time home buyer tax credit should be extended. Basically, it's a tax break for first-time buyers worth as much as eight-thousand dollars. South Jersey Congressman John Adler wants to see the program extended in conjunction with also expanding it to thousands of soldiers returning home from Iraq and Afghanistan. [Full Story]

Adler promises to expand tax credit for first-time homebuyers

Mon, 12 Oct 2009 15:09:24 -0400

Burlington County Times - October 10, 2009: Congressman John Adler has promised to support efforts to extend the tax credit for first-time homebuyers beyond the rapidly approaching Nov. 30 deadline. Adler, D-3rd of Cherry Hill, made the pledge during a Friday afternoon meeting with real estate agents at the Burlington Camden County Association of REALTORS® office on Kings Highway. [Full Story]

Extend homebuyer tax credit to shore up our communities

Mon, 12 Oct 2009 09:34:45 -0400

Times of Trenton
October 11, 2009

This year's tax credit for first-time home buyers, a measure included in the federal stimulus bill that gives qualified buyers a direct credit against their income taxes of up to $8,000, has accomplished its intended purpose: to spur home sales and begin a recovery in the housing market.

Extend and expand housing stimulus

Mon, 12 Oct 2009 09:34:12 -0400

Gloucester County Times
October 11, 2009

This year's tax credit for first-time home buyers, a measure included in the federal stimulus bill that gives qualified buyers a direct credit against their income taxes of up to $8,000, has accomplished its intended purpose - to spur home sales and begin a recovery in the housing market.

Homeowner tax credit should not only be renewed, but expanded, too

Mon, 5 Oct 2009 11:41:14 -0400

The Star Ledger: September 28, 2009 - This year's tax credit for first-time home buyers, a measure included in the federal stimulus bill that gives qualified buyers a direct credit against their income taxes of up to $8,000, has accomplished its intended purpose - to spur home sales and begin a recovery in the housing market. As we begin to see positive movement in the market, we are facing the expiration of the tax credit on Dec. 1. Read the full story here.

Shore home sales show signs of life in New Jersey

Mon, 5 Oct 2009 11:40:07 -0400

Press of Atlantic City: October 4, 2009 - The Press' analysis found that the shore market is returning to a pre-boom level and prices are becoming more affordable. Read the full story here.

Grasso: Extend homebuyer tax credit

Mon, 5 Oct 2009 11:39:44 -0400

Herald News: October 3, 2009 - This year's tax credit for first-time home buyers, a measure included in the federal stimulus bill that gives qualified buyers a direct credit against their income taxes of up to $8,000, has accomplished its intended purpose - to spur home sales and begin a recovery in the housing market. As we begin to see positive movement in the market, we are facing the expiration of the tax credit on Dec. 1. Read the full story here.

Stalking the elusive foreclosure deal

Mon, 5 Oct 2009 11:39:25 -0400

The Record: September 27, 2009 - Joseph Licari and Danielle Block had a simple goal when they started house-hunting."We were looking for a bargain," said Licari, a 25-year-old civil engineer. "And the bargains were in bank-owned and foreclosed homes." Read their full story here.

Home-buying tips

Mon, 28 Sep 2009 10:23:10 -0400

ABC 7 Eyewitness News: September 26, 2009 - If you're looking to buy a home, especially if you're a first-time buyer, now is the time to act, according to the National Association of REALTORS®. Judy Appleby, the president-elect of the New Jersey Association of REALTORS®, spoke about tips for buying a home in today's market. Click here to read the full story.

State REALTOR® Group Using Viral Videos to Educate Buyers on Opportunities

Wed, 9 Sep 2009 14:00:00 -0400

September 9, 2009 - Is the line for the bathroom in your own home longer than one in Giants Stadium? Find yourself getting a little too close for comfort with your neighbors? Coming home with your new spouse to... your parents' place?

First Signs of Recovery

Mon, 21 Sep 2009 10:49:34 -0400

New York Times: September 18, 2009 - Where do signs of a housing market recovery show up first? In New Jersey, the answer is: in the northern part of the state, in relatively affluent towns, especially those with train stations. To get all the details on market recovery in New Jersey, read the full story.

Brooklyn Family Finds More Space in New Jersey

Wed, 16 Sep 2009 09:29:52 -0400

Donna and Byron knew it was a buyers’ market and decided to take advantage and give their family more room. The couple began searching for a suburban home in April 2009 to move from their Brooklyn apartment. To find out more about their home buying process, click here.

A Boost for Homebuyers

Tue, 8 Sep 2009 10:07:52 -0400

The Daily Journal: September 4, 2009 - Melissa and Bert Dominguez have lived in apartments for the past six years. The couple wanted a house of their own for their growing family, so Melissa spent evenings running the numbers, comparing the cost of renting to home ownership. Read their story.

Family Upgrades to New Home, Offers Tips to Sellers

Thu, 3 Sep 2009 16:39:07 -0400

Faced with needing more space for a growing family, Michael Connor and Lisa Hernadez decided to place their home on the market and look for something bigger. After months of searching, waiting, and trying to find a buyer for their home, the couple completed the sale and purchased a new place in the same town of Dumont. "You have to be patient and listen to your REALTOR®," said Michael. Watch the video to hear their story and their advice for others looking to buy and sell in the current market.

Savvy Buyers Seek the Shore

Tue, 1 Sep 2009 09:24:34 -0400

New York Times: August 30, 2009 - The pace of residential sales in the shoreline counties of Ocean and Monmouth has wavered a bit this summer - cresting in June over the year before, then staying flat in July. But if you look only at the subset of homes within view of the water, the cresting persisted through July and at least into early August, according to the latest data from the Otteau Valuation Group, which analyzes sales contract data for real estate companies. For more details on this story, click here

The Clock is Ticking!

Tue, 1 Sep 2009 09:19:39 -0400

There are only 90 days left to qualify for the $8,000 federal first-time home buyer tax credit! Get the REAL Story® today.

Rush to get $8,000 first-time homebuyer tax credit boosts area home purchases

Mon, 31 Aug 2009 16:39:54 -0400

Press of Atlantic City - August 30, 2009: Brian Lyons felt the pressure easing Tuesday as he checked out another possible home, this one in Galloway Township's Society Hill development. He has never bought a home before - for most people, the biggest purchase of their lives - and he wants to make a good choice. And he wants to get it done in time to get the $8,000 federal tax credit for first-time homebuyers, a deadline that is much nearer than most people realize. Read more of his story here.

Share the Latest Get the REAL Story® Video

Tue, 25 Aug 2009 10:52:10 -0400

The latest video in the humorous Get the REAL Story® series, "Tired of Walking in on Your Parents Getting Frisky?" demonstrates another great reason to buy your own place today. Share the link by adding it to your Facebook profile, Twitter page and other social networking sites. You can also e-mail the link to your friends and family to get them thinking about the unique opportunities available in New Jersey's real estate market.

NJ Newlyweds Find Opportunities in Current Real Estate Market

Tue, 25 Aug 2009 10:42:53 -0400

NJWedding.Com: August 3, 2009 - With high affordability, an $8,000 tax credit available for first-time home buyers, and low interest rates, many New Jersey couples are having success finding homes to purchase together just in time for their weddings. To find out more, read the full Story.

New YouTube Video Posted

Tue, 18 Aug 2009 11:34:39 -0400

Need another great reason to consider buying a home today? Check out the new Get the REAL Story® YouTube video, "Is Your Mother Trying to Tell You Something?" Let everyone know that there are unique opportunities available in New Jersey's real estate market, including the $8,000 first-time home buyer tax credit, by passing on the link!

NJ Housing Market is Looking Up

Thu, 13 Aug 2009 11:00:21 -0400

NJ 101.5 - August, 13, 2009: Good news on the housing front for the second quarter in New Jersey. Although sales in the Garden State are 10.8 percent lower than they were this time last year, the seasonally adjusted, second quarter 2009 rates are up 11.8 percent from the first quarter of this year. For more, read the full story.

Area home prices continue to decline

Thu, 13 Aug 2009 10:07:46 -0400

Press of Atlantic City - August 12, 2009: The median price for a single-family home in the area that includes Monmouth and Ocean counties declined 11.2 percent in the second quarter, tough news for sellers but a boost to housing affordability, the National Association of Realtors said Wednesday. Read the full story for more details.

Housing prices stabilize: Median costs hold steady for two quarters in Atlantic County

Thu, 13 Aug 2009 09:26:37 -0400

Press of Atlantic City - August 13, 2009: In a strong sign that the southern New Jersey real estate market has stabilized, home prices in Atlantic County held firm in the second quarter, a National Association of Realtors survey said Wednesday. For more details, read the full story.

N.J. Home Sales, Prices Rise in Second Quarter

Wed, 12 Aug 2009 10:48:09 -0400

The Star Ledger: August 12, 2009 - New Jersey was one of 16 states to see a double-digit increase in the number of existing homes sold in the second quarter over the first, though there were still fewer sales than during the same quarter last year, a national real estate trade group said. For more details, read the fully story.

New YouTube Video Posted

Wed, 12 Aug 2009 10:46:58 -0400

Check out the latest Get the REAL Story^® video, "Sick of All the Yard Work?" that offers another great reason to buy your own place. Forward the YouTube link to your friends, family and clients to get them thinking about real estate in New Jersey.

Jersey Housing Market Starting to Gain Momentum

Tue, 11 Aug 2009 09:24:56 -0400

NJ101.5: August 10, 2009 - The Jersey housing market has been struggling for the past couple of years, but things are starting to turn around. To find out more about the positive market trends in New Jersey, read the fully story.

Buying a Home: Where to Get Started

Fri, 7 Aug 2009 10:37:14 -0400

Thinking of buying a home, but not sure where to begin? A new flyer "Buying a Home: Where to Get Started" offers helpful tips on financing, finding a REALTOR® and choosing the ideal home for your lifestyle.

NJ Market on Faster Road to Recovery

Fri, 7 Aug 2009 10:14:36 -0400

NJ Biz: August 6, 2009 - New Jersey’s housing markets are recovering faster than elsewhere in the nation, and June 2009 saw the sixth straight month of increasing home sales, according to a market report released Thursday by Jeff Otteau, president of East Brunswick-based Otteau Valuation Group. Click here to read the full story.

Event Presentation Slides Added

Fri, 7 Aug 2009 10:14:14 -0400

Missed the live "The Clock is Ticking: Time to Harness Your Home Buying Power" educational events? Now you can access the slides from the presentation given at the latest event, which includes market facts, useful websites and other consumer resources. Click here.

New Tax Credit FAQs

Thu, 6 Aug 2009 13:49:46 -0400

Buying a home now? Learn how you can take advantage of the first-time home buyer tax credit with a new flier that addresses potential buyers' most frequently asked questions. Share the link with friends or download and print copies to give to family members or colleagues who may want to take advantage of the credit before this unique window of opportunity closes.

New YouTube Video Posted

Tue, 4 Aug 2009 11:43:51 -0400

Check out the latest Get the REAL Story® video, "Don't You Deserve a Better View?" that offers another great reason to buy your own place. Forward the YouTube link to your friends, family and clients to get them thinking about real estate in New Jersey.

REALTORS® Urge First-Time Buyers to Act Quickly, Tax Credit to Expire Soon

Thu, 30 Jul 2009 11:05:15 -0400

(Edison, NJ) The New Jersey Association of REALTORS® (NJAR®) is encouraging those considering buying a home for the first time to act quickly, as there is very limited time to qualify for the $8,000 first-time home buyer tax credit. As of August 1, there will only be 121 days for first-time purchasers to take advantage of the credit. In order to qualify, the transaction must close before 11:59 p.m. on November 30, 2009.

New YouTube Video Aims to Engage Buyers

Wed, 29 Jul 2009 15:02:40 -0400

Check out the Get the REAL Story video channel on YouTube at www.youtube.com/REALstoryNJ for videos that offer a new spin on the reasons to consider buying a home of your own. The latest video shares the experience of two roommates and takes a look at why privacy might be an important factor in the decision to look for a house. Send the link to your friends as a funny way to get them thinking about the market!

New York Times: Hopeful Signs in Housing

Mon, 27 Jul 2009 13:57:52 -0400

July 24, 2009 - Homeowners and sellers of New Jersey, are you sitting down? You are about to read a recent state housing-trend analysis that’s not half bad: Overall sales are up; inventory is down; and, after three years, home prices may be on the verge of halting their decline. Read the full story here.

Act soon for $8,000 tax credit

Mon, 27 Jul 2009 11:24:17 -0400

New Brunswick Home News Tribune: July 26, 2009 - First-time home buyers have until Nov. 30 to earn an $8,000 tax credit under The American Recovery and Reinvestment Act of 2009. Get details about the eligibility requirements here.

Woman Sees 21 Homes in a Week

Wed, 22 Jul 2009 09:32:13 -0400

With her lease on a rental almost up and housing prices more affordable, Piscataway resident, Sharon, was determined to buy a home of her own. She signed on with a REALTOR®, Jackie, and looked at 21 homes in one week. Find out how she found the perfect place for her here.

NorthJersey.com-Property Values Hold Up

Tue, 21 Jul 2009 13:32:18 -0400

July 19, 2009 - Though the overall economy has yet to recover, property values in some areas have held up remarkably well in recent years, which can surprise people who plan to buy in some NJ communities, real estate specialists say. Read the full story to find out more about these neighborhoods.

Growing Family Buys Home in Ramsey

Mon, 20 Jul 2009 14:40:45 -0400

Greg and his wife moved into a rental home in Ramsey in May 2008, after living in New York City. The couple wanted a suburban lifestyle – good schools for their son, friendly neighbors, and lots of room. By the end of the year, the couple knew it was the right time for them to buy. Find out how they were able to purchase a larger home with all the necessities here.

First Steps on a Bewildering Path

Mon, 20 Jul 2009 14:10:20 -0400

NorthJersey.com: July 19, 2009 - With careers and finances in order, Allyson and Ryan Smith of Passaic are ready to buy their first home. Find out more about their initial steps in the home buying process by reading the full article.

New NJ Metro Area Market Reports

Wed, 15 Jul 2009 16:20:34 -0400

The market varies throughout the Garden State. Find out more about local markets with recent metro area reports from the NATIONAL ASSOCIATION OF REALTORS®, reflecting data collected from the 1st quarter of 2009.

NJAR® HOSTING FREE SEMINAR ON BUYING A HOME IN TODAY'S REAL ESTATE MARKET

Tue, 14 Jul 2009 10:11:45 -0400

The New Jersey Association of REALTORS® (NJAR®) will continue its educational seminar series on August 6 at the Holiday Inn in Totowa with a free event from 6:00 to 8:00 p.m. The Clock is Ticking -- Time to Harness Your Home Buying Power will give attendees insight on the many different aspects of buying a home.

NJAR® HOSTING FREE SEMINAR ON BUYING A HOME IN TODAY'S REAL ESTATE MARKET

Thu, 9 Jul 2009 13:49:17 -0400

The New Jersey Association of REALTORS® (NJAR®) will continue its educational seminar series on July 29 at the Grand Versailles Hotel in Maple Shade, with a free event from 6:00 to 8:00 p.m. The Clock is Ticking -- Time to Harness Your Home Buying Power will give attendees insight on the many different aspects of buying a home.

"Share the Story" Section Includes New Downloads

Thu, 9 Jul 2009 12:36:10 -0400

Visitors to the new Share the Story section of www.REALstoryNJ.com can use resources like the first-time home buyer tax credit flier, YouTube videos or web banners to tell family and friends about the opportunities that exist in New Jersey’s real estate market. Share the Story by posting the resources on your website, blog, or Facebook page. Spread the word through e-mail, RSS or Twitter.

Affordability in Real Estate Market Creates Opportunities for Many

Wed, 8 Jul 2009 12:24:26 -0400

Housing affordability is higher in New Jersey than it has been in years, and buyers are taking advantage.

Local couple navigate housing market in crisis

Tue, 7 Jul 2009 12:32:48 -0400

Press of Atlantic City - July 6, 2009: After a lengthy dry spell, Greg and Alanna Smallwood receive a fresh e-mail from their real estate agent. More homes are on the market. Time to hit the trail.

Son Turns to Mother for Real Estate Help

Mon, 6 Jul 2009 12:28:27 -0400

Jim heard some negativity about the real estate market but never believed it. He had his own reliable market source - his mother, a REALTOR® - who helped him and his fiancé, Lindsay, move from their Lawrence Harbor bungalow to a larger home. Read their story here.

Seller Accepts Offer on Teaneck Home

Mon, 29 Jun 2009 16:28:01 -0400

Margaret’s Teaneck home was too big for her and she could no longer maintain it by herself, so she decided to put it up for sale. Find out how she worked with a REALTOR® to meet the buyers' needs and get her home sold quickly. Read the full story here.

Get The Most Out Of Home Buyer Credit

Mon, 29 Jun 2009 10:54:22 -0400

Do you remember the last time the government sent you a check for $8,000? No strings attached? A Fox 29 consumer reporter gives viewers the 'Real Deal' on the first-time home buyer tax credit with a video segment featuring NJAR® First Vice President Allan "Dutch" Dechert.

Second Event in Buyer Seminar Series

Thu, 25 Jun 2009 15:10:25 -0400

As part of the Get the Real Story® campaign, NJAR® will be hosting a series of educational events for potential buyers, with experts from different fields in real estate. The Clock is Ticking: Time to Harness Your Home Buying Power will be featured in Central, South, and North Jersey. The next event is:

July 29, 6:00 - 8:00 p.m. Grand Versailles Hotel, Maple Shade, N.J.

Alert your clients and anyone else who might benefit from attending the events. Click here for more detailed information.

NJBIZ-Campaign highlights opportunities

Wed, 24 Jun 2009 11:05:58 -0400

June 23, 2009 - State officials and members of the New Jersey Association of REALTORS® want to make sure residents know about opportunities from various programs that have been introduced to promote a housing market turnaround. Click here to read the full article.

Family Stays in Jackson, Upgrades

Tue, 23 Jun 2009 13:41:37 -0400

Frank and Debbie knew it was time to move when their daughter started playing in front of their house and didn’t have enough room. The house didn’t have a sidewalk, and the couple was worried about her safety playing outside. They liked their town, Jackson, though, happy with the schools and people in the area, so they kept their search for a new home in the neighborhood. Learn how they took advantage of the opportunities available in today's market to snag a great new home here.

Buyer Takes Time to Find Perfect Home

Tue, 23 Jun 2009 13:41:19 -0400

Christine had been living with family and never owned her own home. As soon as she had saved enough money, she decided to begin house hunting and took her time, waiting until she found the home that was perfect for her. Find out how Christine's REALTOR® helped her close on an affordable foreclosure property here.

Officials and NJAR Discuss Market Fixes

Tue, 23 Jun 2009 11:00:00 -0400

June 23, 2009 - Officials from the New Jersey Department of Community Affairs (DCA) and the New Jersey Association of REALTORS® (NJAR®) today said the state has enormously important housing incentives available to first-time home buyers and that the programs are helping to invigorate New Jersey's housing market.

Mortgage Options in Today's Market Webinar - Available On Demand

Thu, 18 Jun 2009 14:50:54 -0400

This webinar highlights the many mortgage programs offered by the Federal Housing Administration (FHA) and the New Jersey Housing and Mortgage Finance Agency (NJHMFA). James Hall, assistant director of single family programs for the NJHMFA, discusses the Agency's first-time buyer program, Smart Start down payment program, and "Pre-fund" tax credit loan program, among others. Information on the state's foreclosure prevention resources is also included. David McCarraher, senior customer liaison for the Federal Housing Administration, follows up with information regarding FHA-insured mortgages.

You Can Find Us on YouTube

Wed, 17 Jun 2009 15:13:55 -0400

Help your clients Get the Real Story^® by sharing a series of short, humorous video clips created for the campaign and posted on the popular video sharing site, YouTube. Each video is based on a different reason to take advantage of the great opportunities available in New Jersey’s real estate market—from snagging that “home away from home” on the Jersey shore to trading up for a bigger family nest. Access the videos and help them go viral by forwarding the YouTube link (www.youtube.com/RealStoryNJ) to your friends, colleagues and clients.

June 18- Mortgage Options in Today's Market Webinar

Wed, 17 Jun 2009 15:13:24 -0400

Home buyers, especially first-time buyers, face many choices when it comes to finding a mortgage in today's market. NJAR® will be hosting a free webinar for REALTORS® and prospective home buyers on June 18, 2009 at 11:00 a.m. titled, Mortgage Options in Today's Market. The webinar, available for both members and the public, will highlight the many mortgage programs offered by the Federal Housing Administration (FHA) and the New Jersey Housing and Mortgage Finance Agency (NJHMFA).

Register to reserve your space today. The address for viewing the webinar will be http://njar.acrobat.com/hmfa061809. NOTE: Space for this live event is also limited. Non-registered guests will be admitted to the webinar as space permits. Those unable to view the live event will be able to access an archived version on www.REALstoryNJ.com.

Seminar Series for Buyers Underway

Wed, 17 Jun 2009 15:12:29 -0400

As part of the Get the Real Story® campaign, NJAR® will be hosting a series of educational events for potential buyers, with experts from different fields in real estate. The Clock is Ticking: Time to Harness Your Home Buying Power will be featured in Central, South, and North Jersey:

June 24, 6:00 - 8:00 p.m. NJ Expo Center, Edison, N.J.

July 29, 6:00 - 8:00 p.m. Grand Versailles Hotel, Maple Shade, N.J.

August 6, 6:00 - 8:00 p.m. Holiday Inn, Totowa, N.J.

Alert your clients and anyone else who might benefit from attending the events. Click here for more detailed information, and view The Star-Ledger advertisement promoting the June 24th event.

New Handout Explains First-time Buyer Tax Credit

Fri, 12 Jun 2009 15:15:33 -0400

NJAR® created a new handout for first-time buyers describing the basics of the federal first-time home buyer tax credit. Reading "Buy Now, Before It’s Too Late," the one-page flier introduces first-time buyers (anyone who hasn’t owned a home in the past three years) to the $8,000 tax credit and points out that to qualify for the credit, eligible buyers must close on their new home by November 30, 2009.

Download the handout.

Housing Market Trends and the New Jersey Real Estate Outlook

Fri, 12 Jun 2009 15:12:15 -0400

Lawrence Yun, Ph. D., chief economist for the NATIONAL ASSOCIATION OF REALTORS® (NAR), discussed recent trends in the housing market, and delivered his outlook for New Jersey's real estate markets in this webinar from June 9, 2009.

Click here to view the recorded version.

Slides of the webinar can be downloaded here.

Housing Affordability in New Jersey Rising

Fri, 12 Jun 2009 15:10:49 -0400

New Jersey's housing affordability index rose in the first quarter of 2009 to 131.8. Click here to view more affordability statistics and other data from the first quarter New Jersey Home Sales Report.

New Ad Promotes Home Buyer Event on June 24

Fri, 12 Jun 2009 15:08:26 -0400

A new full-color advertisement for the free seminar on June 24, titled The Clock is Ticking: Tome to Harness Your Home Buying Power, is available for downloading. Share the new ad with friends, family and anyone you know who might be thinking about purchasing property in today’s market. The first in a series of buyer events, the June 24 seminar will take place from 6:00 to 8:00 p.m. at the New Jersey Convention and Expo Center in Edison (Raritan Center). To register for the seminar, e-mail events@njar.com or call 732-494-5616.

Mortgage Options in Today's Market

Fri, 5 Jun 2009 12:49:04 -0400

Home buyers, especially first-time buyers, face many choices when it comes to finding a mortgage in today's market. As part of the Get the Real Story® campaign, NJAR® will be hosting a free webinar on June 18, 2009 at 11:00 a.m. for REALTORS® and prospective home buyers titled, Mortgage Options in Today's Market. The webinar will highlight the many mortgage programs offered by the state of New Jersey. For more information on the webinar and how to register, click here.

The Clock is Ticking Educational Event

Tue, 2 Jun 2009 11:37:47 -0400

As part of the Get the REAL Story® campaign, the New Jersey Association of REALTORS® (NJAR®) will present a free educational event on Wednesday, June 24 from 6:00 p.m. to 8:00 p.m. Titled, The Clock is Ticking: Time to Harness Your Home Buying Power, the event will offer invaluable information on unique buying opportunities in today’s market, including the $8,000 first-time home buyer tax credit that expires November 30, from objective real estate experts. Find out more about the event and get information on how to register today.

Home Sales Up in April...

Tue, 2 Jun 2009 11:37:28 -0400

NJ 101.5: May 28, 2009 - April was a good month for one of the economy's crucial sectors, housing. The housing bounce in the Northeast was 11.6 percent and the NATIONAL ASSOCIATION OF REALTORS® (NAR) says that although most of the sales are with lower-priced homes, sales activity is beginning to pick up in mid-price ranges. New Jersey Association of REALTORS® (NJAR®) 2009 President Diane Dilzell comments on low interest rates and prices along with other buyer incentives. Find out more.

It's an excellent time to buy a home

Tue, 2 Jun 2009 11:37:14 -0400

Courier-News: May 17, 2009 - For buyers who have a sufficient down payment and a secure job, it's an excellent time to buy a home. Read the full story to find out why.

Buyer Takes Time to Find Perfect Home

Tue, 2 Jun 2009 11:36:53 -0400

Christine had been living with family and never owned her own home. As soon as she had saved enough money, she decided to begin house hunting with the help of a REALTOR®. Find out how she found a perfect home with ample space and nearly no necessary renovations at a low price here.

Online Testimonials Offer Advice, Ideas

Wed, 27 May 2009 15:06:47 -0400

May 26, 2009 - NJAR® issued a press release regarding the REAL Stories featured on www.REALStoryNJ.com. The testimonials are credited with informing and educating potential buyers and sellers of New Jersey real estate, offering first-hand knowledge from individuals, couples and families who recently bought or sold in the current market.

For more information, read the full press release.

Buyer's Homework Pays off on Purchase

Fri, 22 May 2009 11:41:12 -0400

A month into looking for a new home, Moises found one in his hometown of Pompton Plains and put an offer in on it. He learned quickly, however, that the offer is just the beginning of the buying process. From inspections to closing paperwork, Moises had a lot to learn. Luckily, his REALTOR was there to help. Read more about Moises' house-hunting process.

First-time buyers utilize incentives

Thu, 21 May 2009 09:59:42 -0400

Earlier this year, before Chris and Lauren were about to tie the knot, the young couple sought to make their dream of owning a home a reality. For them, the timing of their home search was in sync with market conditions that suited the couple well. Read their story to find out what great market incentives they took advantage of to make their home buying process easier.

Engaged Couple Buys Home, Plans Wedding

Wed, 20 May 2009 09:21:00 -0400

Armed with the first-time home buyer tax credit, secure financial footing, and a passing mark from the home inspector, Mary and her fiancé's home-buying process went smoothly and more quickly than they thought it would. Find out just how they snagged their dream home here.

Caveat Emptor or Let the Buyer Be[A]ware

Tue, 19 May 2009 16:28:17 -0400

Mercer Business: May 2009 - The president of the Mercer County Association of REALTORS® says there’s never been a better time to buy a house. From federal incentives to record low prices and mortgage rates, get all the details today.

NJ gives buyers advance on tax credit

Tue, 19 May 2009 16:28:02 -0400

Star Ledger: May 15, 2009 - An $8,000 tax credit doesn't help people with a down payment on a house if they have to wait until next year to get the cash. To help the stimulus credit work even faster to jumpstart the housing market, New Jersey and a handful of other states are advancing some or all of the money to some buyers, interest free. Click here to find out more.

Short Sales, Foreclosures & Loan Fraud

Tue, 12 May 2009 14:57:39 -0400

Due to the recent market correction, buyers can find homes at more affordable prices than at the height of the market. The foreclosure and short sale markets have also become more prevalent. Learn more in the new "Short Sales, Foreclosures & Loan Fraud" section of the Get the REAL Story® website.

Spring Calls to Shoppers

Mon, 11 May 2009 12:24:53 -0400

Buyers like the Oddys are looking for - and finding - better deals this year as the spring market gets under way. To find out more about how 2009's spring housing market is shaping up, read the full story.

Real Estate Agents More Optimistic

Thu, 7 May 2009 09:31:44 -0400

The Times of Trenton: May 5, 2009 - The stock market rose yesterday on reports of better-than-expected home sales and construction spending across much of the country, but the impact locally remains unclear. State figures were not available, but agents in New Jersey report that more sellers are accepting lower prices and first-time homebuyers are slowly beginning to take advantage of a new $8,000 federal tax credit. For more details, read the full story.

MSNBC: Math smiles on move-up buyers

Fri, 1 May 2009 16:56:38 -0400

April 23, 2009 - The Kirstens — Lori, 36, is a physical therapist and Chris, 33, is a Microsoft manager — are among the relatively small number of home buyers across the nation who are taking advantage of the record drop in real estate prices and historically low interest rates sparked by the mortgage meltdown and foreclosure crisis to move up into bigger or fancier digs. Read the full story to learn more.

Forbes: NJ Prices Holding Up

Fri, 1 May 2009 16:56:16 -0400

April 29, 2009 - As the nation's real estate market declines, Mendham has been one of the best performers in the Forbes Luxury Housing Index, which ranks the 500 most expensive ZIP codes in the country, using real estate statistics provided by Altos Research, a Mountain View, Calif.-based real estate derivates research firm. What's stirring in Mendham? Why are prices up 9.8% from this time last year? Read the full text of this article to find out.

Taking Advantage of Buyer Opportunities

Fri, 24 Apr 2009 16:32:40 -0400

Lauren and Craig decided to look for a modern house close to their families and their jobs in Philadelphia once they found out about special buyer opportunities, like the first-time home buyer tax credit and the increased Federal Housing Administration (FHA) loan limits. Find out how they worked with a REALTOR® to find their perfect home here.

Edison Couple's Successful Sale Story

Fri, 24 Apr 2009 16:32:22 -0400

When faced with a difficult market and the need to sell their townhouse in Edison, Ellen and her husband, 16 year residents of the home, were skeptical. They knew it was a tough market, but they carefully considered their options and contacted a REALTOR® for help. After the couple started shopping the house aggressively and making some home improvements, things started to look up. Read the rest of their story here.

NJ Housing Mortgage Finance Agency Offers Cash Advance for First-time Buyer Costs Program offers up to $5,000 cash to qualified first-time homebuyers

Thu, 23 Apr 2009 16:38:55 -0400

The New Jersey Housing Mortgage Finance Agency (NJHMFA) is offering cash payments of up to $5,000 for qualified first-time home buyers to help defray closing costs or satisfy down payment requirements and help new buyers to get into the housing market.

The loan, offered as part of NJHMFA's "Prefund" program, would function like a cash advance against the $8,000 tax credit being offered to first-time buyers who purchase a home between April 8 and December 1 of this year. In its simplest terms, purchasers would be provided with the payment as a loan and would be required to repay the advance when they receive their federal tax credit.

"This is a powerful incentive that will allow potential first time home buyers to actually enter the market because this cash advance will help them meet down payment requirements or pay for closing costs that might otherwise be an obstacle to a first-time buyer," said Jarrod C. Grasso, RCE, executive vice president of NJAR®.

The cash advance is available to first-time home buyers who:

Arrange their financing through the NJHMFA. (Obtain a list of participating lenders by calling (800) NJ HOUSE)
Are qualified for the tax credit offered as a part of the federal stimulus program
Pledge to apply the proceeds of their tax credit to repay the cash

View the full details of the NJHMFA’s First-Time Home Buyers Tax Credit Loan Program (TCLP).

Get the REAL Story(R) In the News

Thu, 23 Apr 2009 16:37:21 -0400

As NJAR® re-launched its Get the Real StorySM campaign, you might have caught some positive news in the newspapers and on the radio. Here’s a recap of some of that recent coverage.

NJAR® EVP Jarrod Grasso's opinion editorial was featured in:

Also, radio interviews with NJAR® representatives about the campaign and the first-time buyer tax credit were featured on:

New Jersey 101.5
WGHT (North Jersey)
WOBM (Ocean County, Southern/Coastal Monmouth County)
WCTC (Central Jersey)
The Breeze (Ocean County)

First-time Buyer Tax Credit Webinar a Success; Second Webinar Scheduled

Thu, 23 Apr 2009 16:36:58 -0400

Due to the tremendous response NJAR® received after the April 3rd public webinar on the first-time buyer tax credit, NJAR® will be hosting another free public webinar on the same topic on April 27 at 2:00 p.m.

NJAR® will begin the encore presentation of the Get the REAL StorySM on the First Time Home Buyer Tax Credit webinar with information on the newly redesigned website www.REALstoryNJ.com and information on the revamped Get the Real StorySM public education campaign. Linda Goold, director of federal tax programs for the NATIONAL ASSOCIATION OF REALTORS® (NAR), will follow with details on the tax credit.

Reserve your space now at www.njar.com/rs_register.php. The address for viewing the webinar will be http://njar.acrobat.com/tc042709. NOTE: Space for the live event is limited. Those unable to log in to the live webinar will be able to access a recorded version online within 24 hours after the live webinar.

Couple Finds Opportunity in Foreclosed Home

Thu, 23 Apr 2009 11:22:28 -0400

After house-hunting for two years, Andrea and Donald celebrated Valentines’ Day in 2009 by moving into their new home in Linden. After having spent some time house-hunting, the couple began working with Ron, a REALTOR® they met through Andrea’s brother. But after being outbid many times, Andrea and Donald began to lose hope. Then they found an opportunity they could not pass up. To find out more, Read the full story .

Family Grows to a Bigger Home

Thu, 23 Apr 2009 11:22:08 -0400

When they found out they were expecting a second child, Al and Christina decided to look for a new home. With the help of their REALTOR® and a market full of incentives, they were able to find the perfect house in Piscataway for their newly expanded family. They began the process by attending open houses and browsing home listings in the newspaper, and after the birth of their second child, the couple contacted a REALTOR® to make the search simpler. To find out more about their home buying process, read the full story.

Couple Gets More for their Money with a Fixer-Upper

Thu, 23 Apr 2009 09:44:54 -0400

Musicians David and Jensyn were looking for an affordable home with three bedrooms to store all their musical instruments and provide room for children in the future. With the help of a REALTOR®, they were able to find a house that suited their current needs, and would be easy to renovate in the future. Learn more about their experience and get tips on the home buying process by watching their video.

Preparation is the key to success for Kevin and Melanie

Thu, 23 Apr 2009 09:44:37 -0400

Kevin and Melanie were living in a small apartment with three children when they decided to buy their first home. They needed more space, and their friends and family had been trying to convince them to buy. At first they looked for a home on their own, but after meeting Susan at an open house, the couple decided to make her their REALTOR®. Read more about how they successfully purchased their home with the help of a REALTOR® here.

NJAR® Kicks Off Spring Buying Season with Tax Credit Countdown

Fri, 3 Apr 2009 14:33:24 -0400

Get the REAL Story^SM campaign educates consumers about local market conditions and government incentives through new website, webinars, and "real story" anecdotes

April 3, 2009 - With an $8,000 federal tax credit available to first-time home buyers and mortgage rates at 40-year lows, the New Jersey Association of REALTORS^® (NJAR^®) announced today the launch of a newly designed website, www.REALstoryNJ.com, featuring a countdown to the expiration of the federal first-time home buyer tax credit. The site was launched as part of NJAR^®'s public education campaign, Get the REAL Story^SM, to kick off the spring home buying season and encourage consumers to learn about local real estate market advantages in New Jersey.

Click here to read the full release.

Skeptical Buyer Finds Home in Two Weeks

Fri, 3 Apr 2009 09:44:37 -0400

For Hugh and his wife, buying their first home seemed like the natural thing to do. They had just had their first child and were ready to move from their Scotch Plains rental apartment to a larger space in Middlesex County. He was skeptical at first, but after learning about incentives and programs, such as the first-time home buyer tax credit and the NJHMFA’s Smart Start program that offers a second mortgage for a down payment and/or closing costs, Hugh was ready to get serious about buying a home. Click here to read the full text of this Real Story.

Interested in Getting the REAL Story on the First-Time Home Buyer Tax Credit?

Wed, 1 Apr 2009 14:47:11 -0400

NJAR^® is presenting a FREE webinar for members and the public to explain the details and answer your questions on the new federal first-time home buyer tax credit. Linda Goold, director of federal tax programs for the NATIONAL ASSOCIATION OF REALTORS^® (NAR), will discuss how home buyers can take advantage of this extraordinary opportunity and other details about the tax credit.

If you are interested in attending this free educational webinar with expert speakers, register here. The website address for participating will be e-mailed to you in advance of the event. NOTE: Space for the live event is limited. Those unable to log in to the live webinar will be able to access a recorded version online in the near future.

Second time's a charm for New Jersey seller

Wed, 1 Apr 2009 14:46:00 -0400

Ellen Sewaren's (Middlesex) home was on the market for six months until she enlisted help from a REALTOR^® who aided her in coming up with a proper pricing plan and provided professional marketing advice. After combining this with a couple of renovations, she was able to sell the property just five weeks after re-listing it. And although the conditions of the current real estate market did affect the selling price of her home, Ellen will not be at a loss because she too is buying a home in the same affordable atmosphere. Click here to see the full text of this REAL Story.

Get the REAL Story on Facebook

Wed, 1 Apr 2009 14:43:12 -0400

NJAR^®'s reenergized Get the REAL Story^SM campaign now has a Facebook page. Click here and become a fan to stay up-to-date with New Jersey real estate success stories and news coverage highlighting some of the great federal incentives and market advantages available to New Jersey residents. Use the Get the REAL Story^SM Facebook page to help spread these positive messages to your clients. Check for updates on important events, like educational webinars, and for postings of useful links and resources.

New Jersey Home Buyers Benefit from Stimulus Bill

Thu, 5 Mar 2009 09:28:06 -0500

In a March 31 op-ed for The Record, NJAR® Executive Vice President Jarrod C. Grasso, RCE points out that the new federal stimulus bill provides enormous incentives for individuals and families looking to purchase a home, especially for first-time home buyers. He explains that the provisions incorporated into the bill, like the first-time home buyer tax credit, coupled with low mortgage rates make this the most advantageous time to buy a home in recent memory. For the full text of the op-ed, click here.