HOME SWEET HOME

Date Sold:  September 7, 2010

Congratulations to the Sellers, Tom and Maritza! 
Wishing you many years of happiness
in your new home! 

 And congrats to the Buyers, Stephen and Amanda! 
Welcome to New Jersey and I hope
you will be very happy here!

NORTHWEST BERGEN MONTHLY MARKET REPORT

Single Family Homes

For the period

  August 1, 2010 – August 31, 2010

Statistics from the New Jersey Multiple Listing Service. 
Information deemed reliable, not guaranteed. 
Not responsible for typographical errors.

WYCKOFF VOLUNTEER FIRE DEPARTMENT

ANNUAL FIREWORKS FUNDRAISER

SATURDAY, SEPTEMBER 4, 2010

The 53rd Annual Fire Department Fireworks Display and Band Concert Fundraiser will be held on Saturday, September 4, 2010 (Rain Date, Monday, September 6, 2010) on Memorial Field, behind Memorial Town Hall (340 Franklin Avenue). Please plan to arrive early and enjoy the concert beginning at 6:45 pm featuring The Shots.  The fireworks are scheduled to begin at 8:30 pm.

Tickets may be purchased in advance for $10.00 each, (children under 12 are free) at the following locations:

• Wyckoff Town Hall – Clerk’s Office - 340 Franklin Avenue
• Wyckoff YMCA - 695 Wyckoff Avenue
• Frankie’s Gourmet Catering - 637 Wyckoff Avenue
• Market Basket (Wyckoff) - 300 Sicomac Avenue
• Yudin’s - 378 Main StreetWaldwick
• Prime Meats - 10 Franklin Turnpike, Waldwick

• Parkwood Deli - 342 Erie Avenue, Midland Park

You can go to Wyckoff on the Web (www.wyckoff-nj.com)  and click on “Up to the Minute” for updates. 

At the end of last week there were a few articles in the news that were very negative regarding the real estate market. I need to remind you all once again that real estate is a very local thing. The negative articles that I saw were about the entire country!  You cannot lump the entire country into one article!  Yes, there are some parts of the country where real estate is hurting tremendously, such as Las Vegas and parts of Florida and California.

While we are certainly not “flying high” in North Jersey like we were in real estate in the early 2000’s, we are far from dead here!!!! In fact, the market has been fairly active, especially considering that this time of year people are often distracted with end of summer, and getting ready for college and school, etc.

The Buyers realize that there are tremedous bargains available and the mortgage rates are so low. It is an amazing time to buy! While the numbers of Buyers may be lower than at other times in the past, they are commited and serious about buying.

So please, whenever you see a real estate article in the press, realize that the gloom and doom is probably about some other area of the country and not our part of the country.

Thanks for reading my North Jersey Real Estate Blog!
Sally Ponchak, ABR, GRI
Coldwell Banker, Wyckoff, NJ
201-848-3214
Email:  sally@sallyponchak.com

I can help you purchase a home or
sell your home in the towns of
Allendale, Franklin Lakes, Glen Rock,
HoHoKus, Mahwah, Midland Park,
Oakland, Ramsey, Ridgewood, Saddle River,
Upper Saddle River, Waldwick, Wyckoff

The Importance of Pricing Your Home Correctly

If you are thinking about selling your home here are some tips!

1. Ask a Realtor to help you!  A Realtor has access to all the homes that have recently sold that are similar to yours. The Realtor can also  show you homes that have failed to sell. It is important to look at these also so you can see pitfalls to avoid.

2. Compare your home to listings that are currently on the market - these will be your “competition”. But, keep in mind that the prices are ASKING prices and may not reflect the true value of the home, or what it will sell for. Ask the Realtor to tell you how long these homes have been on the market at that price and if they started at a higher price and have been reduced.

3. Consider what is happening in the market. Is the Real Estate market busy? slow?  What percentage of asking price are homes selling for? Is it a Buyers’ Market? or a Sellers’ Market? Here in northern New Jersey we are still in a Buyers’ market, meaning the Buyers usually have the upper hand in negotiations because there is a large inventory of homes.

We are finding that homes that are well-priced are selling quickly and often at or close to asking price. The key is to be properly priced from the start! This is not the kind of market where you should “try” a high price and see what happens. Your home will become stale on the market as Buyers ignore it in favor of better-priced homes.

If you’re thinking of selling I would be happy to assist you!

Summer in northern New Jersey is a delight!

There are so many things to do - Farmer’s markets, “pick your own” fruits and vegetables, outdoor concerts, day trips to the beach (what we in NJ call “the shore”) and just plain relaxing! By the way, the corn and tomatoes available at Abma’s Farm right in my hometown of Wyckoff have been amazingly delicious!

It is also a great time to take a trip into New York City. Because August is such a popular vacation month, the city is much less crowded and the driving is easier! If it is hot and humid you can go to one of the many fabulous museums. On a nice day it is fun to take the Circle Line boat tour around Manhattan, or visit the Statue of Liberty, or ride around in the double decker red tour bus.

You can also pick up discounted tickets for Broadway shows at the TKTS booth in Times Square! While you’re in Times Square be on the lookout for the “Naked Cowboy”, a young man who strolls around playing his guitar wearing nothing but his “tighty whities”! A true New York phenomenom!

There is no shortage of fun here!

If you would like more information about fun things to do in the area, just give me a call! 201-848-3214

Who Do You Know in One of These Situations?

New Jersey Multiple Listing Service statistics for
single family homes in the 13 towns of Northwest
Bergen County for the period July 1, 2010 - July 31, 2010:

Statistics from the New Jersey Multiple Listing Service. 
Information deemed reliable, not guaranteed. 
Not responsible for typographical errors.

____________________________________________

Thanks for reading my North Jersey Real Estate Blog!
Sally Ponchak, ABR, GRI
Coldwell Banker, Wyckoff, NJ
201-848-3214
Email:  sally@sallyponchak.com

I can help you purchase a home or
sell your home in the towns of
Allendale, Franklin Lakes, Glen Rock,
HoHoKus, Mahwah, Midland Park,
Oakland, Ramsey, Ridgewood, Saddle River,
Upper Saddle River, Waldwick, Wyckoff

What is It?
The Realty Transfer Fee (RTF) was established in New Jersey in 1968 to offset the costs of tracking real estate transactions. 

Who Pays It?
Sellers pay the fee, which is based on their property’s sales price, upon the transfer of the deed to the buyers.  Payment of the fee is a prerequisite for recording the deed. 

Are there Other Fees Payable on the Sale?
In  addition to the transfer fee paid by the sellers, a 1% fee must be paid by the buyer on all transactions over $1,000,000 in all commercial and residential property classes. 

Where Does the Money Go?
The fee monies are usually collected at the real estate closing by the the closing attorney, who are responsible for recording the deed at the county registry offices.  Funds from the RTF are then shared between the state and counties. The state portion of the revenue is allocated to neighborhood revitalization, shore protection and the state’s general fund. The counties are responsible for disbursement of their portion of the revenue.

Does it Apply in all Real Estate Transactions?
The RTF does not apply to sales for less than $100, or those transactions made between husbands and wives or parents and children.  Senior citizens, blind or disabled persons and low- and moderate- income housing continue to be exempt from the state portion of the basic fee.  An Affidavit of Consideration is to be filed with any deed in which a full or partial exemption is claimed from the RTF. 

How Much Is It?
The fee is based on the property’s sale price.  For a quick estimate using an RTF calculator, visit the NJAR website here.  For more information and FAQs, visit the State of NJ Department of Treasury website here. 

Thanks for reading my North Jersey Real Estate Blog!
Sally Ponchak, ABR, GRI
Coldwell Banker, Wyckoff, NJ  201-848-3214
Email:  sally@sallyponchak.com

I can help you purchase a home or sell your home in the towns of Allendale, Franklin Lakes, Glen Rock, HoHoKus, Mahwah, Midland Park, Oakland, Ramsey, Ridgewood, Saddle River, Upper Saddle River, Waldwick, Wyckoff

Credit tip: Avoid thin credit: Maintain at least 3 trade linesA poor, or “thin credit” profle can be just as much of a show-stopper as a low credit score - especially if you have (old) bad credit. You should have at least 3 trade lines with a 12-month satisfactory history, including at least one with a 24-month satisfactory history. If you are re-building your credit, this can be a challenge because you if you apply and are declined, all you will gain is an inquiry on your credit report, which can depress your credit further. The best way to avoid this is with a secured credit card. Approval is guaranteed and it is reported as a regular credit card. Once you have it, use it for a small purchase right away, stay below 50% of the limit at all times, pay the bill on time , then use it at least once every 3 months.

________________________________________

Thanks for reading my North Jersey Real Estate Blog!

Sally Ponchak, ABR, GRI

Coldwell Banker, Wyckoff, NJ

201-848-3214

Email:  sally@sallyponchak.com

I can help you purchase a home orsell your home in the towns of

Allendale, Franklin Lakes, Glen Rock,

HoHoKus, Mahwah, Midland Park,

Oakland, Ramsey, Ridgewood, Saddle River,

Upper Saddle River, Waldwick, Wyckoff