Spectacular new listing in Apple Ridge, Wall Township!

2016-6fcfcf99d68e1510VgnVCM100000d7c1a8c0____Is it really 2016 already? For those of you who happen to be planning on buying a home in the new year — or even just trying to — there’s a whole lot to celebrate. Why? A variety of financial vectors have dovetailed to make this the perfect storm for home buyers to get out there and make an (winning) offer. Here are six home-buying reasons to be thankful while ringing in the new year:

Reason No. 1: Interest rates are still at record lows

Even though they may creep up at any moment, it’s nonetheless a fact that interest rates on home loans are at historic lows, with a 30-year fixed-rate home loan still hovering around 4%.

“Remember 18.5% in the ’80s?” asks Tom Postilio, a real estate broker with Douglas Elliman Real Estate and a star of HGTV’s “Selling New York.”"It is likely that we’ll never see interest rates this low again. So while prices are high in some markets, the savings in interest payments could easily amount to hundreds of thousands of dollars over the life of the mortgage.”

Reason No. 2: Rents have skyrocketed

Another reason home buyers are lucky is that rents are going up, up, up! (This, on the other hand, is a reason not to be thankful if you’re a renter.) In fact, rents outpaced home values in 20 of the 35 biggest housing markets in 2015. What’s more, according to the 2015 Rent.com Rental Market Report, 88% of property managers raised their rent in the past 12 months, and an 8% hike is predicted for 2016.

“In most metropolitan cities, monthly rent is comparable to that of a monthly mortgage payment, sometimes more,” says Heather Garriock, mortgage agent for The Mortgage Group. “Doesn’t it make more sense to put those monthly chunks of money into your own appreciating asset rather than handing it over to your landlord and saying goodbye to it forever?”

Reason No. 3: Home prices are stabilizing

For the first time in years, prices that have been climbing steadily upward are stabilizing, restoring a level playing field that helps buyers drive a harder bargain with sellers, even in heated markets.

“Local markets vary, but generally we are experiencing a cooling period,” says Postilio. “At this moment, buyers have the opportunity to capitalize on this.”

Reason No. 4: Down payments don’t need to break the bank

Probably the biggest obstacle that prevents renters from becoming homeowners is pulling together a down payment. But today, that chunk of change can be smaller, thanks to a variety of programs to help home buyers. For instance, the new Fannie Mae and Freddie Mac Home Possible Advantage Program allows for a 3% down payment for credit scores as low as 620.

Reason No. 5: Mortgage insurance is a deal, too

If you do decide to put less than 20% down on a home, you are then required to have mortgage insurance (basically in case you default). A workaround to handle this, however, is to take out a loan from the Federal Housing Administration – a government mortgage insurer that backs loans with down payments as low as 3.5% and credit scores as low as 580. The fees are way down from 1.35% to 0.85% of the mortgage balance, meaning your monthly mortgage total will be significantly lower if you fund it this way. In fact, the FHA predicts this 37% annual premium cut will bring 250,000 first-time buyers into the market. Why not be one of them?

Reason No. 6: You’ll reap major tax breaks

Tax laws continue to favor homeowners, so you’re not just buying a place to live — you’re getting a tax break! The biggest one is that unless your home loan is more than $1 million, you can deduct all the monthly interest you are paying on that loan. Homeowners may also deduct certain home-related expenses and home property taxes.

by Kimberly Dawn Neumann, Realtor.com   December 28, 2015

Turn back timeI can’t tell you how many times my clients have said, “If only I could turn the clock back”. Would’ve, Should’ve, Could’ve. How many times would you have pulled the trigger on a real estate transaction, but allowed the moment to pass? And, now you are kicking yourself.

Don’t let this be one of those moments.

There’s been a fear that the Fed will raise interest rates. Well, guess what? Eventually, they will. So, are you going to sit on the sidelines and wait for that to happen? Or, are you going to seize the moment and indulge in the extremely low rates?

Home prices appear to be rising. S&P/Case-Shiller data revealed in September a 5% increase in July prices for its 20-city index. So, do you want to wait for prices to rise to a level you can’t afford? Or, do you want to buy now while prices are still on the rise and the interest rates remain low?

NOW is the time to invest in real estate. Homebuilder confidence is high, sales prices are rising, and mortgage rates remain steady at an all-time low.

So, while I will remind you to turn your clocks back one hour on Sunday morning, I will also remind you that, when it comes to making good decisions about purchasing real estate, once the opportunity is lost, you don’t get to turn the clock back.

IMG_3029 (600 x 220)How much would a true beachfront property be worth to you?

What if there was a 3-level townhouse on that property?

What if it had 3 bedrooms, 3.5 baths, 3 balconies, and 1 enclosed oceanfront stone patio?

What if there were unobstructed ocean views from every room?

152 Ocean A1 - Open House Collage 3What if it had an open floor plan masterfully designed to maximize panoramic views?

What if it was completely remodeled in 2013?

What if sand between your toes was just steps from your front door?

What if you could watch the fireworks from any one of the 3 balconies?


Pier Village CollageWhat if Rooney’s, the Tiki Bar at the Ocean Place Resort and Spa, and the exquisite shops and dining at Long Branch’s Pier Village could all be easily accessed with a relaxing stroll down the promenade?

All of this and so very much more can be had by you if you are the lucky one to purchase this rare gem. Undeniably one of the best properties on the Jersey Shore. Contact me for a tour today!


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A Rare Gem in an Ideal Location!


1. Wall Township is ideally located on the Jersey Shore

Wall Township, comprised of approximately 32 square miles of Southern Monmouth County, is a wonderful community in which to live. Wall’s location – bordered by the Manasquan River on the South and Shark River on the North – makes it very attractive. There are homes on the river if you want a water view or a place to dock your boat. It’s only a short distance to beautiful beaches, and the Edgar Felix Bike Path takes you right through Manasquan or to Allaire State Park.

There is also easy access to the Garden State Parkway, Route 18, Highways 71, 35, 34, and Highway 138 connecting to Interstate 195. Additionally, mass transit such as buses, trains, and ferries make Wall Township very commuter-friendly. Corporate jets from Allaire Airport fly over tree-edged open spaces dotted with businesses, industries, clusters of homes, stable lands, and tilled farms.

Wall’s proximity to beaches, rivers, Allaire State Park, and farmland make the township an ideal place for outdoor activities. Horsebackriding, boating, surfing, fishing, golf, camping, running, biking, swimming, tennis, basketball, soccer…and the list goes on.

2. A Home Type for Everyone

Whatever your lifestyle preferences are, Wall Township has a home for you. Aside from the wonderful educational choices in the Township, Wall offers a mix of single-family homes, multi-family homes, condos, townhouses, and adult communities. So, it is understandable why so many people want to live here.

3.The Facts

If you know you want to live in Wall – or already live in the Township and are considering downsizing or moving to something larger – I would suggest making the move sooner rather than later. In case having a home that suits your needs in an ideal location with lots to do and a great school system doesn’t convince you, let me quickly review some current Wall Township numbers and trends that make Wall even more appealing:

Home sales are increasing - The number of closed properties has been steadily rising month over month in 2013.

The number of closed properties has been steadily rising month over month in 2013

Homes are selling faster - The average days on the market (DOM) of total inventory has been on a downward trend.

The average days on the market (DOM) of total inventory has been on a downward trend.

The amount of available inventory keeps decreasing - There has been a steady reduction in Months inventory.

The amount of available inventory keeps decreasing

Homes are getting more expensive – Median sale prices are rising.

Median sale prices are rising.

In conclusion, the median price of homes in Wall township is rising, and there has been a steady reduction in inventory (in July, the number of properties under contract exceeded the new properties coming on the market). Properties are spending less time on the market before attracting a buyer, which is also evidenced by the increase in the number of properties sold month over month. If the trends continue, you will most likely be competing with many others for less available property choices – therefore the longer you wait, the more limited your choices will be and the more you will have to pay. Add all of this to the rise in mortgage rates, and it’s as plain as the eye can see: contact me now, so that I can help you find your perfect home in Wall Township!

Check out these two Wall Township open houses this Sunday!

open house 1216 narrumson   open house 1607 dumont

Information deemed reliable but not guaranteed – Copyright: 2013 by the Monmouth County Association of REALTORS®
Provided by Barbara Scaffidi of Coldwell Banker Res. Brokerage

image from masspropertybuyers.com

There is an old saying “Cash is King”. This has held true for much of the last few years, and a lot of very smart investors have made a fortune by accumulating cash and then using it as leverage in real estate deals. However, we might be seeing an end to that era at the Jersey Shore.

Let me explain. For a long time now, the belief has been that an all-cash offer carried amazing weight – and in the not-so-distant-past climate of obtaining mortgages, this was very true. Sellers may have been more willing to accept a lower offer if it was all-cash rather than a higher offer that required a mortgage contingency. Mortgages have proven difficult to obtain, and the security of knowing that a deal is not at the mercy of the banks and new stringent banking regulations can go a long way when negotiating. Sellers who had been sitting with their homes on the market eventually get worn down by buyers looking to “steal” a home, and finding an all–cash buyer makes it a done deal so they can finally move on.

However, times appear to be changing: there is no question that cash is a significant component, but my recent experience has demonstrated that an all-cash offer is not necessarily a substitute for price. While price is undoubtedly the primary factor for sellers, they will take many other points into consideration. Aside from how the price will be paid (cash, small mortgage, larger mortgage), other factors could include down payment, closing date, and other contingencies, like the need to close on a current home.

Over the last couple of months I have been working with an investor who is buying properties with the intent to rent them. He is an all-cash buyer with the ability to close quickly. There is zero emotional attachment to the properties because since they are for investment purposes only, he is strictly buying by the numbers. We have been experiencing a definite change in the real estate market: not only are newly listed properties getting multiple offers very quickly, but even properties that have been sitting unable to get sufficient interest are all of a sudden getting more than one offer. In many cases, the other offers are also all cash. Now the game changes: whatever leverage you thought you had as a cash buyer is not so strong anymore. The other players in the game have similar terms, which obviously drives the price up: typical supply and demand.

There is less good inventory, there are more buyers, and there are more people with cash. Cash buyers who have been enjoying an environment in which their cash enabled them to secure amazing deals are getting pushback now. Almost like water being thrown in their faces, they can’t understand why sellers have stopped being so eager to practically give their homes away in exchange for cold, hard cash.

So, is cash still king? In my opinion, cash will always be king – it just appears that there are more kings out there looking to purchase Jersey Shore real estate. Cash will always make you a better buyer, but it is not the driving factor that it was in the not-so-distant past.

Listing information is deemed reliable, but not guaranteed.

This IDX solution is (c) Diverse Solutions 2018.