These statistics compare our Keller Williams Realty Atlantic Shore office with the rest of the Multiple Listing Service in the Atlantic County, NJ area. As you can see we out perform the rest of the market. We have exceeded the rest of the market in the number of transaction for buyers and sellers and sales dollar volume.
The questions is why? And there are many reasons to explain this. One is that we are an agent centered company. We have a culture. We are the largest real estate franchise in the world in agent count. We are the number one training organization among all industries. Our local leadership team truly cares about helping people reach their dreams and have businesses worth owning and lives worth living.
Who do you know, right now, that would benefit from working with our company? While others agents are struggling, we are thriving. And it’s important that you know that I have time to help your friends, family members, and neighbors that you know and like that need help. Please call me at 609-338-3773 and we can talk about how I can help.
You may have heard recently about the casino closures, property tax hikes, and other issues effecting Atlantic City. In my opinion I don’t see new casino’s coming to Atlantic City to solve the cities woes. I do see a great opportunity for businesses to move to Atlantic City or start in Atlantic City. There are excellent incentives to bring businesses and development to the city.
You may have heard about the call center that launched in Atlantic City. The company was approved for $33,000,000 in tax credits! The company plans to hire over 300 people and will recieve $3.27 million per year in tax credits over a 10-year period through the Grow New Jersey Assistance Program. Through this program businesses that are creating or retaining jobs in New Jersey may be eligible for tax credits ranging from $500 to $5,000 per job, per year; with bonus credits ranging from $250 to $3,000 per job, per year.
The other fantastic incentive program is the Economic Redevelopment and Growth (ERG) Program. This also run by the NJ Economic Development Authority. For residential projects: Tax credit of up to 20% of total project cost with 10% bonus possible if the project constructs and reserves at least 10% of the residential units for moderate income housing. And for commercial projects: Incentive grant reimbursement of up to 20% of total project cost. Because Atlantic City is located in one of the five Garden State Growth Zones there is up to an additional 20% in incentives. Imagine building a brand new building or development and getting up to 40% of the cost back in tax incentives!
So besides the incentives there are a few other reasons to bring your business to Atlantic City. We have an ample work force of good hard working people. You’ll have no problem hiring great talent in Atlantic City. Also the location is fantastic. We have fabulous beaches, world class restaurants, shopping, entertainment, and recreation. We’re also one hour from Philadelphia and two hours from New York City.
This is clearly the best time to bring your business to Atlantic City. If you or someone you know is considering starting or expanding their business please contact me. I’d love to connect them with the resources they need to take advantage of the opportunities right now in Atlantic City commercial real estate.
P.S. For additional incentive for Atlantic County visit Atlantic County Economic Development Site.
Spring is hopefully right around the corner. I wanted to take a moment and look at last month’s sales data and update you on what’s happening in the market. With this update I am comparing a few statistics among different municipalities: Ocean City, Longport, Margate, Brigantine, Linwood, Egg Harbor Township, and Galloway, NJ.
As you can see sales, inventory and price varies greatly among each or these communities. The turnover ratio shows the percentage of homes selling in each city. The higher the percentage the more homes are selling each month.
The most commonly asked question I get is: “How’s The Market.” Experience shows it all depends on where you live. If you’d like to know How the market is in your neighborhood I’d love to do some research for you and send you an email that will tell you what homes are for sale now, what homes have sold recently and how long homes are taking to sell in your neighborhood so you can feel secure in the knowledge that you have the most accurate information. This timely information will tell you right away how your market is right now! I imagine that information would be of value to you, would it not?
Please contact me if you’d like to know what’s happening in your market. 609-338-3773.
* Information based on MLS data as of 3/2/15
FHA will be lowering their mortgage insurance starting today, 1/26. The monthly mortgage insurance will drop from 1.35% to .85%. This will help bring FHA’s monthly insurance more in-line with USDA and Conventional mortgage insurance. FHA is still the #1 first time homebuyers program as it still only requires 3.5% down, and we require only a 580 credit score. Some good news at least, especially with USDA going away in certain areas. FHA is not the end of the world and is a great loan program!!!
I have just received word that as of February 2nd, 2015, USDA is officially changing its maps. For Atlantic County, it will make EHT ineligible and parts of Galloway (closer to Absecon). Feel free to call me with any questions about this:
Egg Harbor City Is Eligible For FHA and USDA Financing
Thus, the ineligible area maps based on the above classifications will be effective on February 2, 2015. The changes will be those already published on the “Future Eligible Areas” maps posted on the Eligibility Website; http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
Here’s a quick note to let you know how I can help you or anyone you feel comfortable introducing me to.
Spring is upon us, and regardless of what’s going on in the economy that means it’s moving time. School is ending. Vacation time is coming. The weather is nicer. It’s generally just a good time to get out and look at homes.
So, the next time you’re in a conversation with a friend, family member or neighbor and they mention that they are thinking of buying a new home, take out your cell phone, look up my number 609-338-3773 and call me immediately. I’ll send you a certificate to give them a free subscription to my HomeFinder Newsletter, packed with valuable home-buying tips such as “How Do Sellers Price Their Homes And How Much Should I Offer?” and “Six Signs That Could Mean Expensive (Hidden) Trouble.”
Your Real Estate Consultant For Life Keller Williams Realty Atlantic Shore 609-484-9890 ext 132
P.S. Every home buyer should know about the six signs that could mean expensive trouble. Be sure to give me a call the next time someone you know is talking about buying a home and we can help them avoid some expensive mistakes.
It’s a great time to buy a second home at the shore or downsize and enjoy the amenities and convinces of some of our wonderful 55+ communities. One community that has been hot is The Fairways in Mays Landing.
This is a golf course community and in a great convenient location close to shopping, restaurants, Hamilton Mall, Atlantic City and Ocean City.
Most homes are selling for around $100,000 so it is affordable and the maintenance fees include taxes.
Since December 20th Our Office Has Sold The Following Properties. Note: this is a complete list of sales according to our MLS.
213 Burning Tree Court Sold price $240,000 (BHHS Fox and Roach Listing Agent) 12/20/13
56 Knollwood Dr Sold price $92,500 12/22/13
63 Oakmont Dr Sold price $95,000 1/19/14
I partner with one of the leading websites for 55 and over homes in the country. Currently I have 19 prospects looking for homes in The Fairways. If you or someone you know is thinking about selling their home in The Fairways please contact me immediately. We are clearly leading the way in helping people move in and out of The Fairways.
Here is a great video with national market statistics and a tip for selling your home in the Spring.
Congress Extends Rural Definition Until September 30th, 2013. This means that home buyers in Galloway, Egg Harbor Township, and Hamilton Township can continue to buy homes with Zero Down Payment and low fixed rate 30 year home loans through USDA. This has been a very popular loan program allowing home buyers to purchase with no down payment. Interest rates are also low and fees are low allowing for low monthly payments.
This morning, Congress passed an FY13 Continuing Resolution (CR) to keep the government funded loan program through the end of the fiscal year. The CR includes a specific provision that extends eligibility for all rural communities that are currently eligible until September 30, 2013.
This gives rural advocates more time to build cosponsors for H.R. 858, the Rural Housing Preservation Act. So, please remember to ask your Representatives to cosponsor this bill to ensure that more than 900 rural communities can remain eligible for USDA Rural Housing programs.
If you would like more information on home loan options call for a FREE RECORDED MESSAGE: (888) 856-3579 ext. 1
Your friend in the real estate business who can help the people you love.