Posted on

Should I get a real estate attorney when buying or selling in NJ?

Here are 5 reasons to hire an attorney when buying or selling a home in NJ.

As a real estate agent I often get asked from buyers or sellers should I hire an attorney?  In NJ having an attorney is not required.  There is a difference in how closings are handled in North Jersey versus South Jersey.  If you are in North Jersey it’s customary for an attorney to handle everything in the transaction including title search and handling the closing.  If you’re in South Jersey title companies typically handle the closing and title work.  Regardless of what part of NJ you are buying or selling a home, here is my list of 5 reasons you should consider hiring an attorney.

  1.  Real estate agents can’t give legal advice.  Real estate agents can go over the contingencies of a contract but they can’t give legal advice.  Only an attorney can advise you on legal matter.
  2. Inspection Negotiations.  Attorneys can help in negotiating acceptable inspection terms.  Often a well drafted letter from an attorney can be more well received if it is coming from an attorney rather from an agent or home buyer or seller.
  3. Review of contract terms.  Your real estate agent will most likely be using standard New Jersey Association of Realtors contract forms.  These work well for most homes however every home and circumstance is unique.  It’s wise to have an attorney review the terms of the contract during the three day attorney review period once the contracts are fully signed.  During this time an attorney can cancel, or revise a contract on behalf of a home buyer or seller.
  4. Review of contract deadlines.  Attorneys will also help keep track of important deadlines in a real estate transaction to help ensure your agent does not miss any important deadlines.
  5. Problems at the closing table.  At the day of closing there can be problems.  In my experience there are two common problems.  The first is the seller not moving out all their personal items in time for closing and the second is repair issues.  Sometimes a new repair issue is discovered at closing.  For example the air conditioning is not working properly.  An attorney can help successfully negotiate agreeable terms for the buyer and seller and make sure they are legally protected if such a problem would occur at closing.

We have worked fantastic attorneys.  We would be happy to recommend one to you depending on your location and circumstances.  Contact us and we’ll be happy to recommend an attorney for you.

 

Posted on

Margate City, NJ Real Estate Market Update

Here is a quick look at real estate statistics for Margate, NJ for December 2018

Margate is on of my favorite South Jersey Shore beach towns.  I prefer the Ventnor/Margate beaches in the summer because they are not as crowded as Ocean City.  Margate has more year round residents than some of the other shore tows.  Margate is also home to my favorite summer eatery the Margate Dairy & Burger Bar.  So lets take a look at the real estate market for Margate.

Margate City, NJ Real Estate Market Update

For single family homes new listings were down 40% and down 2% year to date.  Closed units were down 20% for the month and 5.5% year to date.  Days on market was just 50 days.  Median sales price was also up 8%.  Inventory of homes for sale is down 9.5%.

Margate City, NJ Real Estate Market Update

For condos and townhomes.  New listing were down slightly.  Closed sales were up 200% for the month and up 2% year to date.  Days on market was up in this category.  Median sales price was up 50% which indicates a few higher priced sales took place.  Median sales price is up 11.8% year to date.  Inventory of condos is down by 11% and months supply of inventory is down to 13 months.

If you or someone you know is looking to buy sell or invest in Margate real estate contact us now.  Inventory is shrinking and prices are on the rise.  This makes it a great time to sell and also a great time to buy before prices increase further.

Best wishes, Matt

Posted on

What’s The Best Real Estate App?

We review the pros and cons of real estate apps and look at the new KW app.

What's The Best Real Estate App

My KW.com app.

Everyone has an App these days.  Banking, social media and even your favorite restaurants all have apps.  They are convenient ways to stay connected and offer many conveniences.  So when it comes to real estate Apps which one is best?

There are many large real estate websites that all have apps.  And most of them work very well.  Apps like Realtor.com, Zillow, Trulia etc.  provide similar home search functions and capabilities.  They are connected to GPS so when you are driving around or walking around you simple open your app and you’ll see all the homes for sale around you.  You’ll also see photos, prices and details.

Here is the biggest problem with these apps… they are not connected to a local agent.  These apps are not connected to a local real estate expert who is looking out for your needs and best interest.  So if you have a question or want more details on a property you may be connected to the listing agent but most of the time you’ll be sent to an agent who has paid to advertise on the app that may know nothing about the property at all.

My app also has a map function where you can draw the area you are interested in and it will pull up all available homes.

So what’s the best real estate app?  Mine of course!  My KW app allows my clients and friends and family to have all the features and benefits of the big name real estate apps with a connection to a local agent who is looking out for your best interest.  My app works nationwide.  And if you’re looking at home outside of my area of coverage I can connect you with a local agent anywhere in the country through our network of over 150,000 highly trained agents.

For 2019 our app will be totally redesigned with direct connection to every Multiple Listing Service in the country we will have the most accurate data for our customers.  If you would like a great real estate app connected with a great real estate agent download my free app now.  When the new version of the app is released your app will automatically be uploaded to the new version.  Click here to download now or Text
KW2JXSUJJ to 87778.

Best wishes, Matt
Posted on

Real Estate Market Update For Egg Harbor Township NJ

Here’s a quick look at the real estate market for Egg Harbor Township, NJ from our latest research report.  Home price do vary on a monthly basis as often time one high or low priced home can skew the numbers.  Here are the important numbers to look at for single family homes.  Inventory is down nearly 5%.  Home prices are up 2.3% year to date.  Days on market is down to 71 days on market year to date and just 55 days on market for the month of November.  Closed sales are up nearly 8% year to date.Real Estate Market Update For Egg Harbor Township NJ

 

For condos and townhomes prices are up year to date by nearly 30%.  The number of closed sales is down 32% year to date.  Egg-Harbor-Township-December2108marketupdate

If you or someone you know if buying or selling a home in Egg Harbor Township, NJ contact me for customized market report based on your specific criteria and location.

Posted on

Love Life in Egg Harbor Township, NJ

Living and loving life in Egg Harbor Township, NJ 08234

Egg Harbor Township is an excellent place to put down roots and live within a home-town community.There are several neighborhoods which offer a variety of homes, both older and newer constructions, ideal for raising a family, creating a retreat away from work, or enjoying retirement. Whatever your lifestyle and personal needs for a house, Egg Harbor Township is a place worthy of calling home.

Life in Egg Harbor Township, NJ

Life in Egg Harbor Township, NJ

Demographically speaking,Egg Harbor Township is a diverse community, in cultural heritage, education, and career/work background. With a larger proportion of the households being families, Egg Harbor Township provides excellent resources and amenities such as top-rated schools, parks and plenty of social opportunities, making it easy to connect with other families and build community bonds.  With many neighborhoods and sections you’re sure to find the right one for you.

Situated along the New Jersey coastline, it’s easy to get out and experience the rugged beauty of the scenic, coastal landscape along Great Egg Harbor Bay and River, Tuckahoe Wildlife Management Area and Egg Harbor Township Nature Reserve; just to name a few spots wort checking out. With the New Jersey Pinelands National Reserve right in our backyard, an almost endless run of trails awaits exploration.

Fun Fact: Great Egg Harbor get its name from the vast number of bird eggs which covered the meadow lands along the bay and river shoreline.

Egg Harbor Township is located minutes from Atlantic City and Ocean City and all the great beach towns like Margate, Longport, Ventnor and Brigantine.  Egg Harbor Township is located 1 hour from Philadelphia and two hours from New York City.

We have homes of all styles and budgets.  From condos, single family homes, 55 and over communities and even riverfront and waterfront homes.  Egg Harbor Township also offers new construction homes from some of the nations top builders.  This community is also conveniently located near shopping, medical facilities and and great restaurants.  Egg Harbor Township has a lot to offer come and see for yourself.

If you want to view homes in Egg Harbor Township, get the conversation started with me today at 609-338-3773 or contact me here.

Posted on

Keller Williams Realty Atlantic Shore Is Outperforming The Market

Once again our market center is outperforming the market.  As many of our competitors businesses are contracting we continue to grow while providing maximum benefits for our clients.

Keller Williams Realty Atlantic Shore Is Outperforming The Market

The chart below compares Keller Williams Realty Atlantic Shore and the entire South Jersey Shore Regional Multiple Listing System (all real estate brokers combined).  We are outperforming the market in every category.  Our main office is in Northfield NJ and we also have offices in Brigantine and Little Egg Harbor NJ.

Keller Williams Realty Atlantic Shore

 

Posted on

New Listing! 7097 English Creek Road, Egg Harbor Township, NJ 08234

Lovely 3 bedroom, 2 bath ranch home on one acre with a two car garage

House for sale in Egg Harbor Twp. NJ

Come check out this fantastic house for sale in Egg Harbor Twp. NJ. Priced to sell at $190,000.  This spacious 3 bedroom, 2 bath ranch home is on a 1 acre lot in a quiet section of Egg Harbor Township.

House for sale, Egg Harbor Twp. NJ

Gourmet Kitchen with double oven, granite counters, and soft-close drawers. Tankless hot water, radiant heat flooring, new front windows, wood stove, master bed with walk in closet, deck, 2 car garage and a fantastic back yard.

Join me for an open house Saturday December 15th from 1-3 PM.

Posted on

Can a Short Sale Apply to a Commercial Property?

Short sales are one option property owners who need to let go of their real estate can look into. These types of sales are where an owner works with their lender to sell the property as quickly as possible at a lower price than what’s owed, with the goal of helping the lender recoup as much as they can on the loss of a property, while allowing the owner to get out from underneath a financial burden.

Can a Short Sale Apply to a Commercial Property?

Short sales are not something to be entered into lightly.  They do provide a way to deal with a property which is underwater or valued at less than what is owed should financial strife be an issue preventing an owner from continuing to make their mortgage payments. The housing crisis of 2008 led to many homeowners opting for a short sale over foreclosure. Can a short sale apply to a commercial property?

The answer is yes, you can seek a short sale of your commercial property.  You do need to show proof of hardship, reflecting why you are no longer able to pay the mortgage on the property. Just as with a residential property, if a commercial property owner isn’t able to meet the payments, provided you can market the property at its current value, a short sale can be an option over foreclosure.

Being able to get at or close to the current market value of the property is key to getting lender approval and acceptance of a short sale; they want to recoup as much as they can after all. There’s one critical thing to keep in mind as a commercial property owner vs a residential owner however. It’s possible that your lender is more likely to take you to court for the remaining balance through seeking a Deficiency Judgment.  This tends to be more prevalent with commercial properties compared to residential ones.

A Deficiency Judgment lawsuit can occur after a short sale and is an option for lenders to attempt to recoup more of the original loan. This is not to say it will happen, but it’s important if you’re considering a short sale on your commercial property that this could occur.  Our goal in successful short sale negotiation is to have any deficiency forgiven.

If you’re facing financial distress and own commercial property, a short sale is one option to consider. Learn more about this and other options by contacting us.

When it’s time to sell or buy property, working with an experienced Realtor® who understands the local real estate market will make the process easier. I’m here and ready to get the conversation started with you. Call me today at 609-338-3773 or send me an e-mail.  Myself and my team at The Haviland Group and Keller Williams Realty are ready to share our expertise and care for all your real estate needs.

 

Posted on

How to Qualify for Government Grants to Buy a House

Government grants are an excellent resource of funding for buying a home, especially as grants, unlike loans, don’t need to be paid back. In getting a grant there’s a process to follow and qualifications to meet. With the various programs available there’s a chance you could be able to take advantage of a grant to help get you into your own home.

How to qualify for government grants to buy a house?

First you need to know what types of grants are available. There are some which will help lower the overall mortgage of a home while others help towards down payments and home improvements to be done after you move in. Here’s a list of some resources for grants worth looking into:

New Jersey HMFA Down Payment Assistance Program– Qualified buyers can get up to $10,000 to put towards a down payment on a house.

Teacher Next Door -A resource for public employees to get assistance- teachers, peace officers, firefighters, nurses and others- this site has helpful information for all public working sectors.

USDA Rural Development– There are a variety of grants available based on specified areas targeted for revitalization.

VA Grants for Disabled Veterans– These grants not only help vets get into home but also to modify a house as needed for comfortable living.

Second you need to review the application process carefully, within this information you’ll find the specific qualifications which are needed to be able to apply for a government grant to buy a house. Often there are income limits, or you need to be part of a specific demographic such as being a military veteran, and you may need to be willing to live in certain areas. This is the case with USDA home loan grants which aim to revitalize rural communities with new home owners moving in.

Other qualifications may include a specified work history or minimum credit score. If you don’t meet these qualifications you may need wait a bit longer, until you’ve been at your job for the minimum amount f time or can get your credit score improved enough.

If this is you, don’t stress, just take the time and steps needed to get yourself where you need to be. Staying with one employer for the long-term and having a good credit score reflects how stable and responsibility you are, which is necessary for successful home ownership.

The best way to take advantage of government grants to buy a home is to plan for it and then take action once you’re ready. When it’s time to buy a home, work with a Realtor® whose expertise can help you find solutions whatever your real estate needs may be. Get the conversation started with Matt Haviland, give him a call today at 609-338-3773 or send him an e-mail.  The Haviland Group and Keller Williams Realty are ready to share their expertise and care for all your real estate needs.