Freddie's Blog

Tip of the Day: Home Improvement Safety

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Wed, 18 Jul 2007 11:05:53 -0500

Do-it-yourself home improvement and repair is just part of homeownership for many people today. With more non-professionals tackling home improvement projects, safety is the difference between having fond memories as you sit out on your new deck or viewing the thing as a vision from a nightmare. Came across this MarketWatch article that, though from June, is still relevant today. It discusses the seven tips for the do-it-yourself home improvement projects. Here are the seven tips:

Wear protective eyewear and gear

Keep the work site organized to prevent tripping and falls

Ask for training on tools when you rent or buy them

Make sure ladders are anchored securely and replace any that appear damaged

Equip nail guns with sequential-trip triggers

Keep combustible, solvent-soaked rags away from heat sources

Quit before you're exhausted.

I would switch the last one to the top of the list because you need to keep that in mind during the entire project. Accidents and level of tiredness have a direct relationship so being mindful of your level of tiredness makes sense.
Read the full article here.

Open House Today!

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 12 Jul 2007 09:12:05 -0500

When people consider buying a home, oftentimes they start by noticing "Open House Today" signs. An Open House gives potential buyers a chance to look at homes they find attractive and that are in desirable neighborhoods. While walking through the rooms, they learn what amenities they find attractive in the house and what houses in the area have to offer. Often if they like the house, they may stroll the neighborhood, getting a feel of things.
Open House shoppers can learn a lot about current home values. Sometimes they may get "sticker shock" when they learn a home's price; while other times they may be pleasantly surprised that a house is within their reach.
Smart Open House shoppers take the time to talk to the person who is showing the house. If that person is the listing agent or a knowledgeable assoicate, shoppers can learn a great deal. A Real Estate pro can tell you about what's included in and excluded from the sale, financing options, insurance, schools, and taxes.
It the house you are looking at is not exactly right for you, a professional will probably know about other houses that might suit you better. You can make an appointment to look and them and learn more.
So whether you are thinking of buying that first home or a considering move-up home -- or looking for something smaller and easier to maintain an Open House is a good place to begin.

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Search the MLS like the pros HERE

Property Tax Bill Desked (Beware Humor Attempted)

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 22 Mar 2007 10:01:12 -0500

The property tax bill saga is really something. Let me do a recap. First Governor Jon Corzine calls the legislature into special session and charges them to find a solution to our tax woes before the legislators go on break for Christmas break. The legislators go through their partisan bickering but eventually come up with a comptroller, a four percent cap on increases, and a tax credit for most households. The latter may or may not be sustainable depending on who you ask. After getting the legislation through the Assembly and the Senate it now sits Governor Corzine's desk.

Well most of us know the Governor only has 45 days to sign the legislation into law which is up on Saturday. What is less known, is that in New Jersey the rule applies only when Congress is in session. Since the legislators are in committees right now the Saturday deadline can pass without the bill going into pocket veto status. With the legislators doing other things Governor Corzine has opted not to sign the bill until some undisclosed time.

Something got into me reading this one and humor won out. I got to chuckling and thinking about what could be holding signing the bill up. Once I got started thought I would share it.

Somebody forgot to rent the dog and pony for the show (my favorite)
Those special signing pens are on back-order
The Bill decided not to attend the signing and just walk off.
All the attendees have been sitting on a Blue plane for the last 45 days
Some quick eyed legislator noticed the bill was printed on the wrong color white paper
Governor Corzine's bill signing shoes
The governor's dog ate the bill, no ate the shoes! Ate the bill and shoes?
The signing desk has splinters and is being repaired
The Lt Governor kidnapped the bill
New Hampshire swiped the bill to stay #2 in highest property taxes

Any other guesses out there? -- still chuckling--

Here's the article.

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Sixty-Second Sold Window

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Wed, 21 Mar 2007 14:35:14 -0500

(Another drawer find that I updated and tweaked a bit. Thought it might be appropriate for sellers. It needs a bit of something though. Any ideas what would be appreciated. Enjoy!)

Sixty seconds -- that is the amount of time that sellers have to win over buyers. Just sixty seconds, in which perspective buyers decide if they like the home they are viewing or not. The smart seller will make sure that their home captures as many of the senses as possible in that first minute. To that end, the seller will look at their home with the eye of a potential buyer.

It starts from the street. Curb appeal is essentially how does the home look from the street? Does is distinguish itself or just blend into its surroundings. Is it attractive, eye catching, or buried behind shrubbery and trees. Is the lawn full and healthy or full of crab grass and brown patches? Even with the lawn snow covered, the entrance to the home must be spotless. If there is outdoor lighting make sure it works properly.

From the entry, move on through each room of the house removing clutter and making sure the entire house is spotless. That old chair you are not taking to the new home, get rid of it now. Decreasing clutter is the hardest but most essential task in getting a home into "showcase" condition. Usually the longer a seller has lived in a home, the more clutter that home collects - which makes the task of getting rid of clutter all the harder. If necessary rent a storage unit to temporarily house those items that will go to the new home and discard the rest. Remember too that pets and all evidence of their residence, needs to be removed from the house.
Clean it, paint it, repair it, or replace it. Go through the entire house once clutter is removed with this mantra in mind. If it is marked, dirty, or dusty, clean it. If it looks tired, stained, or dingy, paint it. If it is dripping, burnt out, loose, or squeaking, repair it. If it is broken (includes cracked, chipped, or splintered), worn, or leaks, replace it.

Remember in a buyers market there is plenty of choice for buyers. That just means your home is competing with other homes in the area and in the price range. Making the most of that first sixty-second window along with a realistic price are what make buyers sign your contract.

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Mortage Fact: Unemployment Rate Matters

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Mon, 19 Mar 2007 11:26:26 -0500

It is good news from the job market front! The unemployment numbers for February dropped to 4.5 percent nationally in February. In New Jersey the unemployment rate held a 4.2 percent (Department of Labor and Workforce Development) unchanged from January. With the hoopla over the stock market's decline, some might have missed that New Jersey's unemployment rate is lower than the national average again in February. Granted it is merely 3 tenths of a percentage point but it is something to crow about while everybody else is bemoaning the loss of 12,000 on the stock market.
We live in a capricious society where anxiety over the stock market reigns, rather than a celebration of the lower the unemployment rate which is an indicator of a healthier the economy. The healthier the economy the more likely people are to at least catch up on their mortgages rather than default entirely and have their home fall into foreclosure -- which is the major anxiety-maker of the moment.
Yes, the number of foreclosures is up but with the increase in the number of subprime mortgages out there some pruning had to be anticipated one would think. Is that any reason for investors to start withdrawing from the mortgage investment market? Apparently so for some, if last week's market ending is anything to go by. Still New Jerseyans have something to celebrate!
Read the article.

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Selling Empty Houses

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 15 Mar 2007 14:14:28 -0500

It is fair to say sellling a home after the owner or tenant has left is not as easy as selling on where there is furniture in place. Most sellers take their furniture with them when they move and are unwilling to spend money on renting furniture. There did not seem to be an easy solution.

Found an article that talks about just this issue. I have had my share of empty houses to sell and yes I have found them harder on the buyer. The article offered a bit of advice that I thought I would share here. It was really quite simple: Take pictures of the room with furniture in it and mount the pictures on the wall where the furniture was. It is simple but since it is visual it will probably be effective.

The first thing I thought was of course: PAINT, PAINT, PAINT. Empty houses show best with a fresh coat of paint and all walls. I don't know how many times I have said this over the years but it is a little thing that makes a major difference. While I tend to say resist strong colors, the walls need not be all white either. Pale neutral colors though work best.

Anybody else have any tips for selling empty properties?

Read the article.

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ARM's Worries Affect Stock Market

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Wed, 14 Mar 2007 11:37:41 -0500

It has been a bit of concern to everybody including the Fed, but until yesterday it had not really showed in a way that would get the working man's attention. Yesterday it did. What was it: the concern over sub-prime loan defaults, i.e, foreclosures.

Investors withdrew from the sub-prime mortgage sector yesterday and caused a drop in Dow Jones Industrials of more that 240 points. In fact all the stock indexes were down about two percent.

Granted there were other contributing factors like retail sale profit figures being relatively small (0.1 percent) and the Mortgage Bankers Association saying that foreclosures increased 28 basis points from the third quarter which is up 25 basis points from last year.

While there forecast for sub-prime loans continues to look dour the number of houses on the market continues to increase. Prime mortgages are on the rise and buyers with good credit have a wide variety of property types from which to choose.

Hold on to your seat people the Fed's reaction to this latest turn of events could get interesting.

Read the MBAA press release

Read The Times of Trenton

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Lawrence Township to Enforce Sign Ordinance

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Mon, 12 Mar 2007 09:52:39 -0500

Well people it looks like there a lack of love for us in Lawrence Township! Came across an article talking about Lawrence Township's Sign Ordinance and thought I would share parts of it here. It is not online, sorry :-(

"According to the Lawrence Township Land Use Sign Ordinance, no signs other than traffic or similar official governmental signs can be placed in public right-of- ways of streets and side walks. This means that all signs-including realty signs-must be placed at least 10 feet from the curb on the property. Any signs that are placed closer to the curb and/or in public right- of-ways will be confiscated and disposed by the Township and could be done so at the owner's cost."

Another interesting thing about the ordinance is that in the past getting permission to place open house directional signs on a property was a simple matter of knocking on the door and talking to the homeowner where the directional sign needed to be placed. Now, however, not only do you need to talk to the homeowner you must get written permission too. Where's the love people! Where's the love. --chuckling--

"It is not a new ordinance, it has been in effect since 1998. We are just enforcing the letter of the law," said Lawrence Zoning Officer Chris Budzinzki.

Now correct me if I am wrong, but the primary point of directional signs is to help potential buyers find the open house property. Right? One would want them in a location that is easy for drivers to spot in time to make the necessary course corrections, right? What good is placing a directional sign ten feet from the curb provided you can get leery homeowners to sign the permission form? How likely is a driver to look ten feet onto a lawn for directions?

Any opinions?

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Follow the Mortgage Dollar

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 01 Mar 2007 10:49:32 -0600

I had a former client ask me recently a question about mortgage payments. Went hunting for an answer to his specific question and found this along the way. Cleaned it up a bit, played around with it and decided to share it here. Hope you have a bit of fun and have an explanation if ever asked about what happens to mortgage dollars.
--Chuckling --

Ever wondered what really happens to your house payment? Well, it kind of packs it suitcase and goes on a journey.

It seems logical that it would go to the lending company that made the loan to buy the home -- and it does eventually.

If your mortgage stayed in your lending company's portfolio, the lender would probably have to wait many years before the loan was paid up. And the relatively small monthly mortgage payments wouldn't provide enough money to enable the lender to continue making home loans. (Besides who wants to travel without stopping here and there to smell the roses!)

Most mortgage loans don't stay with the lenders who made them. To obtain more money to lend, most lenders sell their mortgages on the secondary market -- a large network of investment companies and quasi-government agencies, including the industry giants Fannie Mae and Freddie Mac. (The equivalent being the dollar gets to checkout the Great Lakes, Hoover Dam, Jefferson Memorial, the Space Center and Mt Rushmore.)

If your mortgage is sold to one of these organizations, you may never know it, because the mortgage's new owner will often use your original lender to service the account. (The dollar rides a specific airline to the various locations. No fly-by-night company of this dollar.)

But you money doesn't stop its journey at that point either. The purchasing organization must also replenish their money supply, so they can keep on buying mortgages. They pool you loan with thousands of others and sell shares in the pool to individual investors and big financial institutions. Countless people obtain income by investing in these mortgages. (Had a difficult time with this one, could only come up with the dollar is now travelling in a jumbo jet rather than the two-seater it started out in.)

Because of this "traveling route" your mortgage dollar takes, when you buy a home, you're not only helping yourself, you're also helping our economy.

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Property Tax Reform: Is it Really Dead?

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Wed, 28 Feb 2007 15:46:39 -0600

Perhaps we should autopsy property tax reform to determine what killed it. By real reform I mean more than the stop-gap measure that is in the works. Yes, the special interest groups played a part in the downfall of this last attempt to curve the runaway costs of living in NJ. It was naïve to think that the Governor and legislature could pass a tax reform package that would really give New Jersey an overhaul especially this close to an election year. That legislators could or would police themselves and end practices that drain the state's revenues, well we got a clue when they balked at changing rules that allow dual office holding, seems just plain wishful thinking. Instead in a slight of hand move unionized workers' benefits and pension plans became the fall guys. Legislators can continue to hold down two positions in state government and in effect rob state revenues that double benefits without demanding any real work.

Is it any real surprise that the legislature will pass only about half of the 98 special committee's recommendations? Not really. Blame the special interest groups for trying to prevent their membership from having to bear the brunt of the reform effort, blame the Governor for hearing the pleas of the people and calling a special session of the legislature, blame New Jersey residents for wanting lower taxes in the first place; but, whatever we do, don't blame the legislators themselves who gave up the fight for real tax reform before the first bill got drafted.

Read the article.

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Hamilton Station Transit Village On Again

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Mon, 26 Feb 2007 11:11:18 -0600

Well it is on again... for now. The town council and the mayor stopped squabbling long enough to agree to ask for public input into the proposed transit village (like their neighbors in West Windsor did. The name of the game was to serve the people. The proposed transit village at the Hamilton Station makes sense.

The Republican council, Democratic mayor and transit representatives met Friday and miraculously have agreed to have more studies done and allow public input into the process that will take long abandon commercial properties and turn them into revenue generating entities.

Whether this spirit of cooperation will survive until the project is actually gets under way is anybody's guess but perhaps having a disinterested mediator, which is another outcome of Friday's meeting, will help them through the process.

Hamilton Station seen here at nice is one of the station stops for trains to New York and through Trenton Station to Philadelphia. The project would reclaim land not currently in use for mixed development including housing, shops, and a hotel.

Blunder Cost Ewing Township $40Gs

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 22 Feb 2007 13:40:54 -0600

Looks like the folks in Ewing Township had a bit of a blunder with a land deal. Seems the tax collector sold a tax lien on property the township did not own. The township's tax collector sold the lien on property out by the Trenton/Mercer Airport. The lien was purchased by Capital Asset Research Corporation. When CARC tried to foreclose on the property it discovered the property was actually owned by Mercer County rather than the township. CARC was awarded $51,000 but struck a deal with the township for $40,000. Ewing Township may be able to recoup some of the money from the tax collector's bonding company.

Read the article.

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A Knock in the Wallet: Energy Conservation

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Wed, 21 Feb 2007 10:55:31 -0600

Okay when I read this article I thought, no good deed goes unpunished. Do something environmentally conscious and what do you get: knocked in the wallet. It seems if you spend the money to have solar panels installed to provide energy for your home, then township assessors come along and counts the panels as a home improvement and ka-ching! You pay more in property taxes.

Folks it really does not make sense that on the one hand the state, encourages people to use less fossil fuel and solar energy is just what is need to fight global warming. Those hearing the call and having the means invest in solar energy and thereby use less fossil energy. But then the township turns around and ups taxes on the improvement? That is a really good way to get resident cooperation and participation in energy conservation efforts. Not!

Though I have not come across a property yet that has solar paneling in its assets, I would imagine it would be a good selling point; however if townships are going to use the panels to raise the taxes that could be make them a liability.

Anybody work with a property with these panels? Was it a selling point? An asset or a liability?

Read the article

West Windsor Proposes Tax Hike

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 15 Feb 2007 11:08:47 -0600

Well, it is beginning. Governor Corzine has not even signed the 20 percent tax benefit for homeowners and already a municipality has proposed to raise its property taxes 7.5 percent to $.29 cents per $100 assessed property value. That works out so that a home assessed at $574,800 would pay an extra $115: $1667. Where have these township people been? The Governor is has legislation on his desk that will force municipalities to only raise taxes by no more than four percent. Why create a budget that ignores that?
This is the first work session for township officials so perhaps this is the wish list stage for them and serious trimming will occur after other meetings. The police and emergency services, municipal courts, and community development still have to be discussed. Hopefully, West Windsor officials are letting these others know the budget is already over the Governor's high mark, and thereby prompting those entities to expect severe trimming to reach four percent mark. Perhap by announcing the high proposal township officials are like Barack Obama, when he announced the misdeeds of his youth -- it is a preemptive measure but bares little resemblance to the end product. Meantime, one can only hope.
Read the article

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Tip of the Day: Cabinet Hardware

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 08 Feb 2007 10:37:43 -0600

Love Tim Carter of Ask The Builder. Thought his response to Lois was just right. Finding hardware that matches the rest of the style of the kitchen is important. That reminded me of a formerly client. It started out as just a CMA appointment. The home was a beauty until the kitchen. Every cabinet had a different knob on every cabinet door and the drawers each had something different than the cabinetry. It was amazing! The couple had just replaced the original hardware, over time, with whatever struck their fancy at the time. Did I say it was amazing? It was mind boggling!

I could not just let them think every thing was okay. With tongue in cheek, I explained that buyers might not necessarily share their artistic eye and that a seller needed to make things easy for buyers to imagine living in the space. Their artistic expressions needed to be saved for their new home. It set the stage for the staging work they would have to do to get the house in showcase condition.

I went home not really expecting to get the listing. My wife says my diplomacy skills need work and I was not sure I had been sufficiently diplomatic about cabinet hardware. Luckily, they were motivated sellers and the beautiful cabinetry became an asset rather than a liability.

Read the Tim's advice

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Property Tax Reform

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Wed, 07 Feb 2007 10:55:49 -0600

Okay we all know the legislature was called into special session last year to come up with a plan to reform New Jersey's property taxes. Well so far only two bills have been signed into law and two are on the Governor's desk.

What's Passed

Mainly some general house cleaning measures although the first one means schools will continue to recognize Veteran's Day and other holidays.

A17/S9 Synopsis: Eliminates various mandates imposed on public school districts.
A13/S6 Synopsis: Eliminated various inactive commissions, committees, councils, and boards

Awaiting the Governor

A1/S20 Synopsis: Establishes homestead credits to reduce property taxes; imposes 4% cap on local tax levies; permits Local Finance Board to define capital and non-bondable current expenses; makes an appropriation.
A2/S15 Establishes an independent Office of State Comptroller and consolidates financial audit and performance reviews of State and local government units.

Awaiting Assembly Action

S17 Synopsis: Implements various recommendations of Joint Legislative Committee on Public Employee Benefits Reform concerning benefits and certain terms and conditions of public office and employment.

S19/A4 Synopsis: Implements CORE proposals, including "Uniform Shared Services and Consolidation Act"; user-friendly budgets; November fire and school district elections; revision of county superintendent of schools title and duties.

S18 Synopsis: Prohibits persons newly elected to public office from simultaneously holding more than one elective office. (This one does not stop currently elected official from hold more than one office)

In all the measures started, abandoned, pending, or passed, nothing has been done about the aid to schools. It was the hardest of the tasks that directly effect property taxes and nothing has been presented by either senator or assemblyman. That they would not stop the practice of holding double elected offices tells which way the wind is blowing in the legislature.

Tax Plan Passes Senate

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Wed, 07 Feb 2007 10:09:36 -0600

Happy Days are here again.... temporarily anyway...

Well, they took two months longer than they said they would and there seems to be some doubt whether the bill will be sustainable or not but a tax reform bill (S20/A1) is on its way to Governor Corzine's desk.

There was a bit of drama with this vote because Senate leader Richard Codey (D) held the voting board open for two hours waiting for Senator to vote or change their vote. He had four members of his party who did not vote for the bill: Sen. John Adler, Wayne Bryan, Nia Gill and Shirley Turner. Senator Codey brought the Senators back yesterday in effort to pass the bill and vowed to keep bringing them back until the bill passed. With some behind the scene lobbying of Republicans for votes by Gov. Corzine and Codey, the bill finally passed (28/10) and is now on it way to Governor Corzine's desk where he is expected to sign it.

That the bill is bipartisan even though Senate Minority Leader Leonard Lance (R) was against the bill means there is hope for property tax reform. Granted this bill may not be sustainable, granted it is not the sweeping change really needed to bring property taxes down in the future or adequately fund schools districts, but it is a start. The legislature is taking a long time to learn to walk but at least it is showing signs of mobility at last.

Read the article.

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Property Tax Legislation in Senate Review

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Mon, 05 Feb 2007 10:16:13 -0600

The tax relief bill is one step closer to reality. It comes before the State Senate (S20) today. The relief effort will only be as successful as the local governments will allow it to be. The credit program allows homeowners whose earnings fall between $100,000 and $250,000 to receive a credit on their property tax bill. While the cap placed on the amount local government may increase taxes in a given year, and the Senate allotting $2.05 billion to the program at least the first year of the program may work out well for homeowners. Since the four percent cap on increases in local levies has exceptions, how long the amount allotted to the program will last is anybody's guess. Ideally, the amount homeowners receive should remain at 20 percent no matter what local governments do -- whether that is indeed the case remains to be seen. Still it is a beginning.

Read Dunstan McNichol's article.

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County Superintendent Bill Nearing Vote

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 01 Feb 2007 10:26:14 -0600

There is a bill working its way through the New Jersey Senate (S19), sponsored by Senator Bob Smith (D), which will create a county level school superintendent. The plan was to create a position to hold local school districts accountable for their spending and thereby lower property taxes. Basically this position would approve or cut budgets. While the idea of a superintendent with the ability to cut budgets is a good one the bill working it way through Senate readings includes a process where local districts can appeal the decision of the superintendent which could very easily render the office of the county superintendent ineffective. Why was the process included in the bill you might ask? It seems some Senators are involved in local government and they did not want the superintendent to have the very power the position needs to effectively bring down New Jersey property taxes. Folks, it looks like the superintendent will have a stick, maybe even a big stick to encourage local governments to work together but it also looks like the Senate bill gives local governments a saw.

Read The Times of Trenton article.

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Black History Month

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Wed, 31 Jan 2007 12:34:46 -0600

Black History Month begins tomorrow in the United States. It was started by Dr. Carter G. Woodson to make clear that blacks had a rich history beyond their subjugation in slavery. Blacks have had a significant impact on the economic, political and social practices of the United States and the world. Woodson, through the creation of the Association for the Study of African American Life and History, Inc. (ASALH), spread information about black life, history, and culture. ASALH which sets the theme for each black history month celebration continues his work.

Here are a few of the events taking place in Mercer County to celebrate black history month:

Trenton City Hall will host an exhibit showcasing inventions by black people which will run until February 28^th 8AM-4PM

Rider University in Lawrenceville will host a variety of events the entire month. Notable are the a poetry night on Valentine's Day; a Black Trivia Fun and Games event, Friday the 23^rd; the 1^st Annual Black Male Conference, Saturday the 24^th; and a Diabetes Forum on February 8^th. You have to call for information: the Center for Multicultural Affairs and Community Service at (609) 895-5781.

As part of its Critical Encounters Series, Princeton University will host a "dialogue before an audience" in an effort to contribute to the development of comparative and transnational race studies on February 22^nd. http://www.princeton.edu/africanamericanstudies/news/events/critical_encounters/

The College of New Jersey will have a performance by Step Afrika! on February 11, a Q&A on February 12^th: "All that You Can't Leave Behind: Black Female Soul Singing and the Politics of Surrogration in the Age of Catastrophe" (Mary J. Blige), a Q&A on February 22^nd "Scientific Racism and Physiological Fallacies: Heeding the Call of Hope in Medicine" and a Jazz Concert on the 26^th. http://www.tcnj.edu/~ccr/news/2007/07bhm.htm

The Black Image Awards will be held on Feb. 25 at the auditorium in the State Museum on West State Street to honor local residents who excel in different fields including sports, community service, performing, public safety and education. For information, call (609) 989-3361.

Whether you are looking for specific information or just some fun there is a wealth of events occurring in the area this month. Hope to see you there!

Read the Times of Trenton article.

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Public Opinion: Tax Relief Unlikely

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 25 Jan 2007 11:39:00 -0600

Just read and article that says us Jerseyans are skeptical about the legislature doing anything about really fixing the property tax problem. Well is that really a surprise to them? The legislature promised to have some reform measures started on the road to becoming law before they went on Christmas break. That promise came to nothing. Here we are in the third week of January and they are still posturing spouting party goobly-guck and they think the public cannot see it is pretty much business as usual?

I said back in October or November that the only way meaningful tax/pension reform was going occur was if a citizens panel was created to deal with the legislature and non-unionized worker problem. I did not think the legislature would police itself. I do not agree that the unionized workers are the primary problem. It is real easy to make them the problem though.

Funding public schools should not be solely tied to property taxes. It is a formula that has lead to disaster and will continue to do so. There needs to be some kind of direct funding of schools which does not include selling off state assets like the Turnpike or the Parkway. If the lawmakers could just put partisanship aside and do the job, this matter could have been well on the way to relieving the burden on New Jersey residents.

Now having said all this there is something about New Jersey, warts and all, that is attractive. Whether it is its theme parks, libraries, museums, restaurants, or even its proximity to New York and Philadelphia and their attractions, New Jersey is a wonderful place to live and raise a family.

Sorry folks could not find the article online: Jerseyans skeptical of any tax revamp

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New Houses vs Older Houses: Why New Costs More?

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Wed, 24 Jan 2007 09:45:37 -0600

Had a new client ask me why newer home cost more than existing older homes. I have a brochure I created for this question so I thought I would share some of it here.

New houses generally cost more than oder homes -- and for good reasons. Back in 1971 the average size of a new single-family house was 1,520 square feet. That's still considered a pretty good size, but new houses now average well over 2,000 square feet. Houses built today are also packed with features.

Back in 1971, only 36% of America's homes has central air conditioning. By 1995, about 80% of our homes had central air. Fifteen percent of the homes has two full and one half baths or more, now at least 48% have that feature.

At the beginning of the '70's, 24% of the homes in the U.S. had four or more bedrooms (30% now); 36% had a fireplace(63% now); 39% had a two-car garage (76% now); 17% had two or more stories (48% now); and a very small 9% had 2,400 square feet or more -- compared with a healthy 28% of the homes that size by the mid-nineties.

What's more, newer homes now have advanced laundry facilities, bettter all-round mechanical systems, and amenities such as dishwashers and microwaves. Older homes have plenty of charms, however, and a well-built home never goes out of style -- many grow ever more desirable witht he passing years. Most older homes that lack today's conveniences can be equipped with all kind of up-to-date features and gadgetry.

The important thing whether purchasing a new house or a charming older one, make sure it meets your needs. Know what you expect from your property. Visualize prior to the purchase and ask questions. There is nothing worst than purchasing a home and moving in only to find dissatisfaction from the start.

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New Jersey Educators Weigh In

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Mon, 22 Jan 2007 11:34:45 -0600

The New Jersey Education Association has weighed in on Gov. Corzine's property tax reform proposal over the weekend. Joyce Powell wrote the ad for the Association. She pretty much says what we all know - that "credits and caps" of Governor Corzine has a fatal flaw<blockquote><em>The core of Gov. Corzine's plan is a ... significant property tax credits for most residents, combined with strong caps on future property tax increases. It is an appealing offer, but with a fatal flaw. While it addresses the issue of funding for education, it does nothing to deal with the cost of providing education.

... [The] crisis ... is a symptom, not the root cause of the problem. For years, the state has failed to provide adequate funding to school districts to raise the necessary funds through the only means available to them: property taxes.</em></blockquote>

Ms Powell has a point. Where does the state expect for schools to get the money to fund education if not from property taxes? Since it is true in the 1990's Gov.Whitman decreased the amount of money available to the state with her decrease in income tax in 1990, then it really is no surprise that municipalities had increase in property taxes to make up the difference for the money no longer received from the state or have schools suffer. Duh! It is not rocket science here. Now they want to take that away too. So what are the municipalities to do? One has to hope Gov.Corzine has a as yet unrevealed plan.

Sorry folks the opinion was not on the web.

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Disclose, Disclose, Disclose

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Fri, 19 Jan 2007 10:26:36 -0600

If three times is not enough, it bears saying again disclose actions to consumers and have a them sign that you had the conversation. I have heard some horror stories from woebegone individuals who revealed that just a little something with a signature would have prevented their loss of time (spent in court) and wages. I saw all this because I just read and article in Bloomberg that says a few insurance companies are in a multibillion dollar fight that has gone to the US Supreme Court for failure to disclose credit checks to consumers and that these checks would be used to determining rate offers. Come on, it is so easy to sit down with a potential client, have a bulleted list of points to be discussed and at the end of the discussion, have the client confirm understanding all the points on the list with a signature. I have no problem taking the time to make an agenda, follow it, and get confirmation with a signature.
What mother said about and ounce of prevent ... well you know the rest.

Read the article.

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Tip of the Day: Top Ten Mortgage Banker Tips

Freddie Moorer (Prudential Fox & Roach REALTORS, Princeton Jct.) — Thu, 18 Jan 2007 10:03:40 -0600

The Mortgage Bankers of America list the following as their top ten tips for homebuyers. Thought they were worth repeating here, with my two cents thrown in.
1. Check your credit report. It really is the most important of all. The credit report will let you know if you will look attractive to lenders. Knowing what they see is to your benefit.
2. Develop a monthly budget. Know what your monthly expenditures are and determine what is 25% to 28% of your income. It is what lenders are going to be looking at so if you look first you will have some idea of the mortgage payment you can afford.
3. See a lender first. I would switch this one with the next one and encourage buyers to begin early thinking about and sorting the features they need vs want in a house, then go lender shopping. I encourage buyers to make a list of everything they want in a home and then assign priorities to the items sorting needs from wants. I encourage them to revisit the list as they go through the search for a lender process. It helps separate the first emotional response to home buying.
4. Needs vs. Wants (see above)
5. Take time to learn important terms. It is especially necessary for first-time homebuyer to learn the lingo of real estate.
6. Thoroughly investigate the mechanics of the deal - are there additional costs/fees that you need to consider?
7. There are various types of mortgage packages. Take your time ask, questions and take the time to understand the package you and your lender put together.
8. Get pre-qualified. It's fast, it easy, and you do not have to have just one. The reason to get pre-qualified is that it tells you how much money you are likely to have toward your home purchase.
9. Visit as many homes as possible. The best home for you is out there waiting for you to come along and find it.
10. Work, interactively with a mortgage lender. For the process to go smoothly the homebuyer must be willing to answer all the questions the lender may ask so being readily available is important.
The homebuying process, with the right team supporting you, will be a pleasant memory and you home a place to enjoy rather than a burden with the correct mortgage package.
Good Luck and Happy Hunting