With earth day being this week (April 22) I found it apropos to blog about changes we can make.
I find myself taking earth day much more seriously than even. In the past, I know I have taken for granted that the affects of the environment will not be seen during my lifetime. I am now congnizent that those thoughts are sheer ignorance.
Though I am not a "tree hugger", I am trying to do my part and make changes in my life.
I have made a couple of changes when I go shopping at the grocery store:
I no longer use plastic bags:
The average family uses 60 bags in 4 trips to the grocery store.
Did you know:
It takes 1000 years for polyethylene bags to break down
As polyethylene breaks down, toxic substances leach into the soil and enter the food chain
Approximately 1 billion seabirds and mammals die per year by ingesting plastic bags
Plastic bags are often mistaken as food by marine mammals. 100,000 marine mammals die yearly by eating plastic bags.
These animals suffer a painful death, the plastic wraps around their intestines or they choke to death
Every time I visit the grocery store I puchase a pack of Energy Star bulbs and replace the old mercury bulbs (i have A LOT of lights in my house).
Did you know:
An ENERGY STAR qualified compact fluorescent light bulb will save about $30 over its lifetime and pay for itself in about 6 months. It uses 75 percent less energy and lasts about 10 times longer than an incandescent bulb.
These use significantly less energy than traditional light bulbs (75% less). If every home in America replaced just one incandescent light bulb with an ENERGY STAR qualified CFL, we would save enough energy to light more than 3 million homes and prevent greenhouse gas emissions equivalent to that of 800,000 cars.
These may be small changes, but they were easy to incorporate in my life and are things I know will make a difference.
What changes have you made in your life to help the environment? How creative are you?
For more information or ideas visit:
http://www.epa.gov/epahome/learn.htm
Sunday, April 19, 2009
Sunday, March 29, 2009
Open House Extravaganza
This April 4th at 10 am and again at 2 we will be hosting an open house event like you've never seen. As written up in the Gloucester County Times March 27th. The goal was to provide information to the consumer, advertise our listings and promote our local business. This was a collaboration between several agents and the businesses around us (paper did not mention that).
At this event information will be provided on short sales, tax advantages to home ownership and information on the grant programs that are still available. Our local merchants provided food and giveaways for anyone who comes by. This will be followed by a tour of the areas properties for sale (a few have already gone under contract) .
The first session will be starting at 10 am at 508 Hurffville Crosskeys Rd, Sewell NJ view Gloucester County and Gloucester Twp properties, and the second session will be starting at 2 pm at 1446 Kings Hwy, Swedesboro NJ viewing Woolwich and Swedesboro properties.
Do you think this venue will be benefical to you? If you could create a similar venue what would you do? What information do you find hard to obtain? Do you like this idea why or why not?
At this event information will be provided on short sales, tax advantages to home ownership and information on the grant programs that are still available. Our local merchants provided food and giveaways for anyone who comes by. This will be followed by a tour of the areas properties for sale (a few have already gone under contract) .
The first session will be starting at 10 am at 508 Hurffville Crosskeys Rd, Sewell NJ view Gloucester County and Gloucester Twp properties, and the second session will be starting at 2 pm at 1446 Kings Hwy, Swedesboro NJ viewing Woolwich and Swedesboro properties.
Do you think this venue will be benefical to you? If you could create a similar venue what would you do? What information do you find hard to obtain? Do you like this idea why or why not?
Sunday, March 22, 2009
Elimination of property tax deduction
Recently in Corzines budget address he called for a one year suspension for all homeowners (excluding seniors) to deduct property taxes from their state tax filings. The budget was subsequently adjusted due to public reaction to affect only those who make more than $150,000 per year.
Corzines plan is to eliminate property tax rebates for those who earn more than $75,000 (excluding seniors).
The tax advantages to home ownership are key points to justifying ownership. Your voice can be heard, click here and tell the legislators you oppose Corzines plan. http://takeaction.realtoractioncenter.com/campaign/public2010budget
Corzines plan is to eliminate property tax rebates for those who earn more than $75,000 (excluding seniors).
The tax advantages to home ownership are key points to justifying ownership. Your voice can be heard, click here and tell the legislators you oppose Corzines plan. http://takeaction.realtoractioncenter.com/campaign/public2010budget
Sunday, March 15, 2009
A look at the first couple of months
Everyday someone asks me "So, how's the real estate market for you?" Most do so rhetorically.
I simply reply that the market is good. Sometimes the look on peoples face is in disbelief. I explain that life goes on despite the reports of the world coming to an end. People still get married, have children, get divorsed, get promoted etc., etc. I am reminded by my father, who was a Real Estate Agent since the 80's, of this. He also speaks of stories when my Grandfather sold Real Estate during the depression. Life goes on, all things change.
I recently analyzed the Gloucester County sales statistics to demonstrate what is going on:
February 2008
608 homes listed at an average LIST price of $288,766 average SOLD price $239,518 17 % L/S
February 2009
488 homes listed at an average LIST price of $264,802 average SOLD price $213,946 19% L/S
These statistics tell me that homes are being listed almost 20% higher than what they are selling for, but the average sold price is only 6% less compared to this time last year.
Very interesting when we look at what has happened over the past 4 years
For the month of February:
2004 average LIST price $208,560 average SOLD price $166,232
2005 average LIST price $231,507 average SOLD price $201,968
2006 average LIST price $270,783 average SOLD price $238,649
2007 average LIST price $289.548 average SOLD price $236,908
We had a 20% increase in average sold price from 2004-2005. As I see it......
If you took 2004 average sale price, then calculated 4% appreciation year-over-year (the average rate real estate appreciates) We are still ahead of the gain!!!! Oh yes, punn intended.
Bottom line-homes are selling and real estate most often appreciates.
I simply reply that the market is good. Sometimes the look on peoples face is in disbelief. I explain that life goes on despite the reports of the world coming to an end. People still get married, have children, get divorsed, get promoted etc., etc. I am reminded by my father, who was a Real Estate Agent since the 80's, of this. He also speaks of stories when my Grandfather sold Real Estate during the depression. Life goes on, all things change.
I recently analyzed the Gloucester County sales statistics to demonstrate what is going on:
February 2008
608 homes listed at an average LIST price of $288,766 average SOLD price $239,518 17 % L/S
February 2009
488 homes listed at an average LIST price of $264,802 average SOLD price $213,946 19% L/S
These statistics tell me that homes are being listed almost 20% higher than what they are selling for, but the average sold price is only 6% less compared to this time last year.
Very interesting when we look at what has happened over the past 4 years
For the month of February:
2004 average LIST price $208,560 average SOLD price $166,232
2005 average LIST price $231,507 average SOLD price $201,968
2006 average LIST price $270,783 average SOLD price $238,649
2007 average LIST price $289.548 average SOLD price $236,908
We had a 20% increase in average sold price from 2004-2005. As I see it......
If you took 2004 average sale price, then calculated 4% appreciation year-over-year (the average rate real estate appreciates) We are still ahead of the gain!!!! Oh yes, punn intended.
Bottom line-homes are selling and real estate most often appreciates.
Sunday, March 8, 2009
2009 first time home owner tax credit
If you purchase your first home (or have not owned one in the past 3 years)
You may be eligable for up to $8000 refundable credit (up to 10% of purchase price).
-If your total tax liability is less than the $8000 and you qualified for the full amount, the IRS will send you a refund.
There are income limitations and homes purchased from close relatives as well as non primary residences are excluded.
If you sell your home prior to the three year time limit, it will have to be repaid.
For more information on the credit:
http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home?lid=ronav0019
You may be eligable for up to $8000 refundable credit (up to 10% of purchase price).
-If your total tax liability is less than the $8000 and you qualified for the full amount, the IRS will send you a refund.
There are income limitations and homes purchased from close relatives as well as non primary residences are excluded.
If you sell your home prior to the three year time limit, it will have to be repaid.
For more information on the credit:
http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home?lid=ronav0019
Housing Stimulus Plan
Making Housing Affordable Program
There are three elements to this plan (Refinance, Modificate and support for lower interest rates)
1. Refinance - (Fannie Mae or Freddie Mac loans)This is for homeowners who are current on their loan, have 80-105 loan to value and have steady income. 15-30 year fixed loan will be available.
To find out if your loan is secured/insured by a GSE :
For Fannie Mae
o 1-800-7FANNIE (8am to 8pm, EST)
o www.fanniemae.com/homeaffordable
For Freddie Mac
o 1-800-FREDDIE (8am to 8pm EST)
o www.freddiemac.com/avoidforeclosure
2. Modification - For borrowers who are in default or are endanger of default.
Incentive in place to help mortgage companies reduce the borrowers monthly payments from 38 percent of the borrowers gross monthly income to 31 percent.
(The mortgage companies will be responsible for cost associated with getting the borrow down to 38 percent program will assist in getting to 31 percent) The interest rate may be reduced to 2 percent for 5 years (will increase no more than 1 percent a year until market rate as of the date of the modification). The term of the loan could be exteneded to 40 year. In addition if necessary, the servicer may forebear principal. There is no cost to borrowers for the program.
Incentives are in place to encourage the lenders to do a modification.
o $1,000 up front for each qualified loan modification. If the borrower stays current: fees up to $1,000 a year for 3 years.
o As an incentive to borrowers to stay current, borrowers may receive a monthly reduction in their mortgage balance, up to $1,000 a year for 5 years.
o Additional incentives are given to the lender if they modify borrowers before the become delinquentd .
o The Treasury Department will establish an insurance fund to discourage lenders from foreclosing on mortgages, by limiting their lose if home prices decline more than expected.
3. Supporting Low Mortgage Rates by Strengthening Confidence in Fannie Mae and Freddie Mac The Obama Plan beefs up the current support for the GSEs. The Treasury Department will increase investments into the Government Sponsored Enterprises (Fannie Mae and Freddie Mac) to help drive down and maintain low rates.
What are your thoughts on the plan?
There are three elements to this plan (Refinance, Modificate and support for lower interest rates)
1. Refinance - (Fannie Mae or Freddie Mac loans)This is for homeowners who are current on their loan, have 80-105 loan to value and have steady income. 15-30 year fixed loan will be available.
To find out if your loan is secured/insured by a GSE :
For Fannie Mae
o 1-800-7FANNIE (8am to 8pm, EST)
o www.fanniemae.com/homeaffordable
For Freddie Mac
o 1-800-FREDDIE (8am to 8pm EST)
o www.freddiemac.com/avoidforeclosure
2. Modification - For borrowers who are in default or are endanger of default.
Incentive in place to help mortgage companies reduce the borrowers monthly payments from 38 percent of the borrowers gross monthly income to 31 percent.
(The mortgage companies will be responsible for cost associated with getting the borrow down to 38 percent program will assist in getting to 31 percent) The interest rate may be reduced to 2 percent for 5 years (will increase no more than 1 percent a year until market rate as of the date of the modification). The term of the loan could be exteneded to 40 year. In addition if necessary, the servicer may forebear principal. There is no cost to borrowers for the program.
Incentives are in place to encourage the lenders to do a modification.
o $1,000 up front for each qualified loan modification. If the borrower stays current: fees up to $1,000 a year for 3 years.
o As an incentive to borrowers to stay current, borrowers may receive a monthly reduction in their mortgage balance, up to $1,000 a year for 5 years.
o Additional incentives are given to the lender if they modify borrowers before the become delinquentd .
o The Treasury Department will establish an insurance fund to discourage lenders from foreclosing on mortgages, by limiting their lose if home prices decline more than expected.
3. Supporting Low Mortgage Rates by Strengthening Confidence in Fannie Mae and Freddie Mac The Obama Plan beefs up the current support for the GSEs. The Treasury Department will increase investments into the Government Sponsored Enterprises (Fannie Mae and Freddie Mac) to help drive down and maintain low rates.
What are your thoughts on the plan?
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