The Bergen County Real Estate Newsletter | December 2009

Bergen County New Jersey Real Estate Newsletter December 2009




Hi everyone and Lisa says Hi!


December has arrived and so has our updated Real Estate Newsletter!





The Fall foliage season is over here. Can this be far behind? The temperatures are cooling off a little too quickly for my tastes.



New Jersey is the Garden State.



The market has heated up as the temperatures drop all around the country.

The time for the first time home buyers credit has been extended and expanded as well. If you can be in contract by April 30th 2010 and close by June 30th 2010, you could still take advantage of the tax credit but you better hurry.


For More Information on the first time home buyer Extension.

Click on the link below for a short video highlighting the important updates to this very important stimulus package.




Business is great and we are excited at the possibilities available for first time home buyers as well as sellers looking to move up.





Historically, interest rates are still at an all time low.

Either moving up or buying for the first time, now is a great time to make the move up to home ownership.


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


This month's issue includes topics such as:

"Home Buyer Tax Credit Extended, Expanded";

"Man's Best Friend May Be Costly When Selling Your Home";

"Should I Take My Home Off the Market During the Holidays?";

"Tips for an Eco-Friendly Holiday";

"How Mortgage Management Affects Credit Scores";

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


We hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to us or post them as comments below.

We hope you all have a wonderful upcoming Holiday Season.


Please Click on the button below to access our newsletter:

If you or someone you know is planning a Move or Sale of their home in the near future, call your Pascack Valley experts, Lisa & Bob Hammerstein at (201)218-6802 or visit us on our website at www.HammersTeam.com.  We'll be able to help you if you're Moving or selling in any of the Pascack Valley towns in Bergen County New Jersey.


For more Local Information about the Pascack Valley area of Bergen County, New Jersey, call Bob & Lisa at (201)218-6802or visit us online at www.HammersTeam.com.

Your Real Estate Resource for the Pascack Valley!

__________________________________________________________________

Robert & Lisa Hammerstein • Sales Associates • Coldwell Banker • (201)315-8618

• Address • 50 Broadway • Hillsdale, NJ 07642 •

 

Hillsdale New Jersey | Market Report August 2009

Hillsdale NJ Real Estate Report|August 09' Single Family Home Sales saw Seven homes closing in the town of Hillsdale in the month of August as the Summer winds down. The 2009 Summer Real Estate market has been hot. With interest rates low and the First Time Home Buyer Incentive program, qualified Buyers have taken advantage of some wonderful opportunities to own a piece of Small Town America! There's no place like A New Hillsdale Home! Act now before the First Time Home Buyer Incentive program goes away.

The town of Hillsdale is constantly changing to keep up with the times while maintaining that desirable small town feel. Residents can take advantage of the many amenities offered by this Pascack Valley town.


Below is a representation of our current market trends here in Park Ridge New Jersey.

I think these graphs are pretty terrific and basically tell you the full scope of our current market here.

First the past 13 Months:







Below is our graph for the the month of August 2009:




Below is a graph depicting the the market going back to October of 2007:

Average List Price..............$ 653,121

Average Sold Price.............$ 611,071

Median Sold Price..............$ 625,000

Sale/List Price....................... 93.562 (6-7% differential)

There are currently 45 Actively Listed homes in the town of Hillsdale with an average List Price of $573,162. There are some fantastic opportunities in this popular town with prices for every budget.

Click here to view all Hillsdale Local Listings

If you or someone you know is planning a Move in the near future, call your Pascack Valley experts, Lisa & Bob Hammerstein at (201)218-6802 or visit us on our website at www.HammersTeam.com. We'll be able to help you if you're Moving to any of the Pascack Valley towns in Bergen County New Jersey.


For more Local Information about the Pascack Valley area of Bergen County, New Jersey, call Bob & Lisa at (201)218-6802 or visit us online at www.HammersTeam.com.

Your Real Estate Resource for the Pascack Valley!

__________________________________________________________________

Robert & Lisa Hammerstein • Sales Associates • Coldwell Banker • (201)315-8618

• Address • 50 Broadway • Hillsdale, NJ 07642 •

Bergen County New Jersey Real Estate Newsletter

Hi everyone and Lisa says Hi!


September has arrived and so has our updated Real Estate Newsletter!

Summer is coming to a close here and the temperatures are cooling off a little to quickly for my tastes.

Soon we will be in the season I love the most which is Fall and the beautiful changing of the leaves here.

New Jersey is the Garden State.




The market has heated up as school gets back in session all around the country. We have been overwhelmed with the number of buyers we have been taking out and helping lately. It has cut into my blogging time. :-) But I digress.

Business is great and I am excited at the possibilities available for first time home buyers as well as sellers looking to move up. But time is running out if you want to take advantage of the credit. You must be closed as of November 31st this year. Only a short time away.





Historically, interest rates are at an all time low but are creeping up slowly. Now is still a great time to buy.

Either moving up or buying for the first time, now is a great time to make the move up to home ownership.


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

This month's issue includes topics such as:

"Sellers: Know Your Buyer Market"

"Major Campaign To Extend $8,000 Home Buyer Tax Credit Underway"

"Real Estate Investment 101"

"New Disclosures Help Mortgage Consumers Know Risk"

"Making Small Homes Have Big Appeal To Buyers"


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

Below is a link to my "September Real Estate Update":

Click on the Button below to access our newsletter:

If you or someone you know is planning a Move in the near future, call your Pascack Valley experts, Lisa & Bob Hammerstein at (201)218-6802 or visit us on our website at www.HammersTeam.com. We'll be able to help you if you're Moving to any of the Pascack Valley towns in Bergen County New Jersey.


For more Local Information about the Pascack Valley area of Bergen County, New Jersey, call Bob & Lisa at (201)218-6802 or visit us online at www.HammersTeam.com.

Your Real Estate Resource for the Pascack Valley!

__________________________________________________________________

Robert & Lisa Hammerstein • Sales Associates • Coldwell Banker • (201)315-8618

• Address • 50 Broadway • Hillsdale, NJ 07642 •

Bergen County | NJ | The Role of a Real Estate Attorney

Bergen County New Jersey The Role of Real Estate Attorneys in a Real Estate Transaction.


Putting the pieces together.






Speaking as New Jersey Real Estate Agents working with Buyers and Sellers in the Pascack Valley area of Bergen County, New Jersey, we'd like to share our list of the features that illustrate The Role of The Real Estate Attorney.

We are happy to offer names of qualified Attorneys to our customers and clients. However, there are occasions when a Buyer or Seller has an Attorney that they pre-selected.

Although most of the time things work out, we have seen those unfortunate situations where the Buyer or Seller feel that they have been left in the dark. Your Agent will keep track of the following terms. However, your Attorney will be the person who will monitor the Contingencies of the Contract on your behalf.


The following list is what you can usually expect your Attorney to handle during the course of your transaction:

1. Attorney Review - In the State of New Jersey, once a Seller and Buyer come to a "Meeting of the Minds", the Offer is signed by the Seller. Next, both the Seller and Buyer's Attorneys receive a copy of the contract to review. During this period, the Attorneys may exchange Riders which could alter portions of the Original Offer. The time frame for the Attorney Review Period could be important if you are a Buyer. It should be noted that during an Attorney Review Period in the state of New Jersey, the Buyer or the Seller can "Back Out", without explanation.

2. Home Inspection Issues - Within approximately ten days after the conclusion of the Attorney Review period, the results and requests for any Home Inspection issues are due. Once the Inspection has been concluded and the Inspection Report has been issued, the Attorney for the Buyer reviews the points with the Buyer. You should expect your Attorney to review these points with you in a timely manner (per the contract and/or Riders).

3. The Deposit Monies - Once the Attorney Review has been completed, the Buyer must meet the deadline set forth in the Contract to bring their Deposit monies to their Attorney. The Attorney will then forward the Deposit monies to the appropriate party in good-faith preparation for the closing.

4. Mortgage Commitment Contingency - The Buyer must take the necessary measures to apply for a Mortgage in a Timely manner. Your Attorney will coordinate the Closing of Title with the Lender to insure the Funds are available on the day and time of the scheduled Closing.

5. Title Review & Survey as well as Title Insurance - Your Attorney will order a Title Search to insure that the property is free and clear of any liens or judgments. Once your Attorney has cleared any judgments and confirmed that any open mortgages will be paid in full at closing, the Title Company will issue a "Clear to Close" and the Attorney will then proceed to closing accordingly. After the closing has taken place, the Title Company will issue a "Title Insurance Policy", insuring the property against any future claims that turn up reverting back to prior to closing. The Attorney will also order a Survey to be done on the property in question. This is important as a Survey will reveal any abnormalities of property lines, and if the Buyer intends on building/improving upon the property in the future, the Surveyor can set property corner markers, or "stakes", which mark the property lines. Your Attorney will forward a copy of the Survey to you prior to closing for you to review and familiarize yourself with your property lines.

6. Ordering of Homeowner's Insurance - The Buyer's Attorney will instruct the Buyer to make application for Homeowner's Insurance. The Buyer's Mortgage Lender will quite often remind the Buyer of this, as well, but it is necessary that the insurance is ordered in a timely manner. The Insurance Certificate must be available on the day of Closing of Title.

7. Closing Of Title - The respective Attorneys will confirm that Funds are available and coordinate with all parties to set the Closing of Title at which time, keys will be exchanged!

As a Buyer or Seller in New Jersey, it's important to note that The Role Of The Real Estate Attorney is to represent you in the legal matters concerning the Transaction.

If you or someone you know is planning a Move or Sale of their home in the near future, call your Pascack Valley experts, Lisa & Bob Hammerstein at (201)218-6802 or visit us on our website at www.HammersTeam.com. We'll be able to help you if you're Moving or selling in any of the Pascack Valley towns in Bergen County New Jersey.


For more Local Information about the Pascack Valley area of Bergen County, New Jersey, call Bob & Lisa at (201)218-6802or visit us online at www.HammersTeam.com.

Your Real Estate Resource for the Pascack Valley!

__________________________________________________________________

Robert & Lisa Hammerstein • Sales Associates • Coldwell Banker • (201)315-8618

• Address • 50 Broadway • Hillsdale, NJ 07642 •