In November, 2011, three Tewksbury properties which had been on the market for significant periods of time reached the closing table. Although three properties closing in a month does not sound like a lot, it’s great news for the Tewksbury market, there were no closings in November, 2010. We’re excited when we see this kind of year-over-year increase in local real estate activity. Contact Leaf, Realtors at 908-975-9756 for more information about local real estate market statistics or to discuss how they affect your buying, selling, or renting position in the local real estate market.
On December 17th, 2011, Congress approved reauthorization for the National Flood Insurance Program (NFIP) through May 31st, 2012. This means that flood insurance is available to homeowners (and people buying properties) living in a designated flood plain.
Although the re-authorization is just a short extension of time for the NFIP, the National Association of Realtors (NAR) is working on getting legislation passed to reauthorize the NFIP for five years. More continuity in the availability of flood insurance to homeowners and home buyers would provide an added element of stability to real estate markets throughout the country.
Flood insurance is required by most lenders to qualify for a mortgage to buy a property in a designated flood plain. Most homeowners’ insurance policies will not typically cover any building or personal property damage caused by flooding. Therefore, a separate policy is required for homeowners to be indemnified from flood risk.
If you have questions about whether a property is located in an area that requires flood insurance, you can check with your insurance agent or local county and municipal officials. Additionally, there are companies that provide official flood zone determinations (e.g., TransAmerica) and this information is often requested by a real estate buyer’s attorney. Keep in mind that flood zones are updated periodically, which means that a property today may not be considered in a flood zone, but it might be considered in a flood zone later.
For more information about the NFIP, see their website, www.floodsmart.gov. If you would like more information about how living in a flood plain or purchasing a home in a flood plain affects the value of the property, contact Leaf, Realtors, to discuss this at 908-975-9756 or email@example.com.
Leaf, Realtors® is delighted to launch the Tewksbury Twp, real estate section of their website. The Tewksbury real estate section displays every home currently listed for sale in Tewksbury Twp, NJ via the GSMLS, (Garden State Multiple Listing Service). This feed is updated daily so you can be sure you are seeing the most up to date information.
Visit the page here: Tewksbury Real Estate
In addition you can find out about Tewksbury Schools, Tewksbury demographic information, some local history and a map of Hunterdon County.
If you would like to have the latest Tewksbury homes for sale sent to you by email as soon as they are listed for sale, simply sign up to our “no commitment required” Tewksbury-Homefinder System here.
If you are curious to find an estimate of your home’s current market value please let us know via either our Tewksbury Home Values form or by scheduling a home visit here.
As a former resident of Pottersville, I can attest to the area’s special charms. A trip to the Pottersville post office is one of the highlights of life in the area. I can always count on an enthusiastic welcome from Jason or Jimmy, an opportunity to pet Tanner, Jimmy’s Corgi and work companion, or a little extra patience with me as I juggle a stack boxes to ship. However, this Christmas, the Pottersville post office has a particularly special treat for local residents.
If you live in the Pottersville area, don’t miss the opportunity to send your letters to Santa this year in the mailbox set up especially for letters to him.
I’ve always thought that growing up in Manhattan had it’s advantages, but standing in line patiently with my mom at the Gracie Station post office was not one of the highlights of my childhood. This year, our girls wrote their letters, and we posted them to Santa in the Pottersville post office (no stamps required — after all, this is Santa!), and thought that was the end of it. A few days later, when we returned to check our mail, much to our surprise, from behind the desk, Jimmy let us know that Santa had written back to our girls. He handed us two envelopes with their names on them. With great delight, the girls read their cards from Santa and were thrilled to also find a sticker and candy cane in each of the cards. Santa was very diplomatic in his response (“Barbies are very popular this year, but I’ll see what I can do”).
I’m thrilled that my friends at the Pottersville post office are helping Santa with the mountains of mail he must be receiving so that Santa could take the time to write back to the girls. I also hope that he’s reading this blog post so he knows how appreciative we are that he’s brought some extra special magic to the Pottersville area this year.
If you’re not checking your mail at the Pottersville post office, perhaps it’s time to investigate our local real estate market. Click to find homes for sale in Pottersville (zip code 07979).
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We enjoyed seeing everyone at the broker open house (doesn’t Nick make great bread??). If you weren’t able to visit the broker’s open house today and enjoy honey glazed ham, salad, and freshly-baked bread, please stop by this Sunday, December 18th, 2011 between 1 and 4pm when we’ll be hosting an open house for the public. Of course, if that doesn’t work for you either, just contact us and we’d be happy to arrange a time to show you the property. 908-975-9756 or firstname.lastname@example.org.
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If you’re a buyer who can afford to buy, and would like to take advantage of the unprecedented, low, long-term mortgage rates and the remarkable asking prices of homes on the market, the answer is yes. However, there are a few things to keep in mind before you go for it:
1) Maintain a long-term vision for your investment. Of course, there are no guarantees about what the short-term future holds for real estate in our area. However, time has proven that real estate is one of the best long-term investments available, so stay focused on the long-term potential of the value of your real estate, as there are likely to be some short-term fluctuations.
2) Invest in your next home as if your household had only half of its current income. For example, if your household currently has income from more than one member, qualify for a mortgage based upon only one of these incomes. That way you are still in a comfortable position if one of those contributing incomes is no longer available.
3) Be sure to have cash reserves. Life sometimes presents us with a bumpy road and it’s essential to have a buffer big enough to ride out the bumps. If you’d like to prepare by filling out a worksheet itemizing income and expenses on a monthly/annual basis, we can provide you with one.
With all these things in place, the current market is a proverbial candy store for the prepared buyer. There are lots of choices among available properties and many (but not all) available properties have sellers with a high level of motivation. Enjoy!