Tomorrow is the First day of Spring.  In  Moorestown and throughout the region that means a Free "Wooder Ice" from Rita's.  

Although you can now find a Rita's in about 19 states plus the District of Columbia, it's heritage is pure Philly!  I'm sure those folks ordering at Rita's outside of the Philadelphia region mistakingly call it water ice, instead of the correct Philly pronunciation of "Wooder Ice."  

For the past 16 years or so, participating Rita's have sweetened the first day of Spring for everyone by offering a water ice free of charge.  You simply can't beat that!  Things just seem happier when you're suffering a Rita's brain freeze!

If you are driving around Moorestown, Cinnaminson, Mount Laurel, Pennsauken or Cherry Hill tomorrow be on the lookout for a Rita's and stop in to brighten your Spring Day.  Just make sure you do so after 12noon and before 10pm!

To find a Rita's near Moorestown, or your home, go here.

Originally posted at www.matthewmoxhay.com

Are you out looking to buy a home and searching for the absolute Best Deal available, or are you looking for the Right Deal?  Do you think they are the same thing?

It has been my experience that there is a subtle, yet significant, difference between the "Best" deal and the "Right" deal.  Buyers start out looking to land the absolute best deal.  Makes sense,and it's my responsibility to help my clients get the best deal possible.  The problem I see lies in the quest.  Somehow the search for the right deal, the one that best suits their needs, is ignored.

Many times buyers will take on the roll of Captain Ahab and their pursuit of a home becomes a singular quest to land the best deal, irregardless of the consequences.  They shrug off their own stated objectives and set off to see every distressed sale that comes up in their price range, certain that they will hook the deal of the century.  This causes some to look in areas outside of their knowledge, moving them further into uncharted waters.  Others still want to increase their price range in hopes of finding a whale of a deal for a package of sardines.

I completely understand wanting to get a "steal," but there might be unintended consequences.

For example if a home is "worth" 200K and you can buy it for 180K but it needs 30K in improvements is that a good deal?  Or if it's worth 200K and you can buy it for 160K with only 20K of improvements needed is that a good deal if you don't have the 20K to make the improvements?

Focus more on a property that you can afford.  And by afford, I mean ones that won't require more funds than you have available to become habitable. The amount of work can be subjective for sure.  If you're like me, you're all thumbs and the only house "improvements" you're qualified to do relates to demolition!  But, if you're like my father-in-law, there's not much you can't fix on your own.  Plus, for the right situation, you might be able to get a loan that will allow you to finance some repairs.

So, here's what I think: The Right Deal is the Best Deal, but the Best "Deal" isn't always the Right Deal.  If you're not able to discern the difference, then hopefully you're working with a realtor who can help.

Originally posted at www.matthewmoxhay.com

Downtown Maple Shade is definitely a favorite of mine, whether it's eating out at one of the many great places like Fontana's (I recommend the Big Phil), or shopping at the ACME for groceries, it's just a great town.  Don't underestimate the convenience of having a supermarket on Main Street, Moorestown hasn't been the same since the "Little" Acme left the downtown area!

If you're someone that's looking to buy a home or condo, I would suggest you add Maple Shade to your list.  It just so happens, that I have a wonderful option for you located on Pine Avenue!  Imagine that:-)

Seriously, when you look at what Maple Shade has to offer with it's great Main Street, wonderful Parks and excellent location you'll quickly realize what an awesome value it offers those looking to buy real estate.  I may be a bit biased, but one such value is 217 S Pine Ave.  That link will take you directly to it's web site for information and photos, or you can scroll down to take a quick virtual tour.

217 S Pine is a fantastic home if you are just starting out or if you are winding down.  With everything you need on 1 floor, there's no stairs to navigate and you can use the second floor bedroom as a guest room and place to store items you don't need all the time.  Or if you're starting out you can use that second floor as your master bedroom.  The fact that 217 S Pine is a home, not a condo, gives you lots of options: there's no "Association" to deal with.

One thing people comment about is how inviting the home is as they enter into the living room and how welcome they feel once inside.  At the back of the home, along with a bedroom, is an office or study that opens up to a great deck.  The current owners love how the home flows from the living room back to the deck: allowing them to entertain with ease, or relax together while also allowing them to have their own space when desired.  What you'll find at 217 S Pine is that there is much more to this home than what you see at first glance.  The same can be said about Maple Shade!

Take your "first glance" below via a quick virtual tour, then I recommend a personal tour to see how this home can accommodate you.

Have you been searching in the Voorhees area for a home and not seeing anything that is the right fit?  You may want to consider this beautiful brick ranch home situated on over a third of an acre in the quaint town of Gibbsboro nestled on the Voorhees border. 

The home welcomes you into a spacious living room.  Down the hall to the right are 3 generous sized bedrooms and the full bathroom.  The large eat-in kitchen has been updated and makes a wonderful focal point for your home.  Off the kitchen is a versatile mud room which leads to a spacious fourth bedroom.  You’ll also enjoy the finished basement that already has a bar set up for you and is a perfect space for entertaining or simply enjoying each others company.  The basement is completed with a craft or tool room along with additional space for storage. 

Tired of staying inside?  No problem, you have over a third of an acre to enjoy and use, along with a large shed that has electric.  You may also find a good use for the 2 separate driveways on this wonderful property.

So for those of you who are searching in Voorhees and can’t find something that excites you, come on over for a visit.  You’ll have the same excellent High School and you’ll have the great community feeling that only exists in a small town like Gibbsboro.  See, you can have it all if you know where to look!

Feel free to take a quick virtual tour of this wonderful home below.  You may also visit 26 East Road's web site for more photos and information.

Click to Search The MLS

If you're looking for a combination of space, amenities, location and convenience, you may wish to consider 1009 Garfield Ave in Palmyra.

Located on a tree lined street of well kept homes just 2 blocks from a Park and less than a mile from the Shoppes at Cinnaminson, this home is an exceptional value.

The kitchen has been updated and offers plenty of cabinet space as well as counter space.  Just about all of the windows have been replaced as well and there's a new water heater (1/09).  The bathroom has also been updated and features beautiful Pella windows.  The full basement is finished and offers a large family room, an office or extra bedroom, a laundry room and another bonus room for your arts and crafts or perhaps a workshop: you decide.

The back yard is completely fenced in and can be enjoyed from the large deck off the kitchen.

Please feel free to take a tour of this wonderful home below.

Without knowing your specific situation and qualifications, I can't tell you whether or not it's a good time for you to buy your first home right now or not.  Besides, without knowing me, would you believe me anyway?
What I would like to do is give people who are on the fence about buying their first home in South Jersey, whether it be in Mount Laurel, Marlton, Moorestown or in the surrounding towns some food for thought.
Are you aware of the Housing & Economic Recovery Act of 2008?  More specifically, the First Time Homebuyer Tax Credit (section 3011)? If not, here are some of the attractive highlights of this bill. (Disclaimer: Always seek the advise of your Tax Advisor regarding your situation and how this Bill might effect you.)

• First Time Homebuyers may be eligible to receive a $7500 tax credit (or 10% of the cost of the home, whichever is less).  This "credit" is basically a no-interest loan that you repay a portion of (6.67% of credit) each year for 15 years.  If you sell before it's repaid, then the remainder is due upon the sale of that home.
•  Even if you've owned a home before you may still qualify.  If you (and your spouse) have not owned a principal residence in 3 years previous to the purchase, then you may qualify.
• This credit is good for purchases on or after 4/9/2008 and before 7/1/2009.  If you've already purchased your first home this year, make sure you tell your tax advisor about this credit.
• There are income limits.  The full credit is available to individuals with adjusted gross income of no more than $75,000 or $150,000 on a joint return.  The credit phases out above those caps: $95,000 and $170,000 respectively.
• If you buy a home after 12/31/2008 it might still be possible for you to get the deduction with your 2008 taxes.  This was taken from the bill:
  • "Election to Treat Purchase in Prior Year- In the case of a purchase of a principal residence after December 31, 2008, and before July 1, 2009, a taxpayer may elect to treat such purchase as made on December 31, 2008, for purposes of this section (other than subsection (c))."

The possibility that you could buy a home in 2009 and get this credit with your 2008 tax return is significant!  Again, make sure you consult your tax advisor before making any assumptions about how this bill will effect you.  

Another important factor for those that are on the fence relates to FHA and their downpayment guidelines.  FHA is an excellent source for financing for many first time homebuyers because qualified buyers could get an FHA loan with just 3% down.  That will change as of 1/1/2009.  FHA will then require 3.5% for a down payment.  For all the information you need about FHA financing, I encourage you to visit Jeff Belonger's blog.  He's an FHA "Guru."

You may want to check my math, but an increase of .5% amounts to an additional $875 for a $175,000 purchase.  The additional amount might not make a huge difference to you, but it is a piece of the puzzle and it just might be the final piece for you to have a complete picture of why now might be the time for you to get off the fence.

To find out if now is the right time for you to buy and take advantage of the opportunities that exist in this market, give me a call or send me an email.  I'd be happy to discuss your options and help you determine which side of the fence would make the most sense for you.

Besides, sitting on the fence is really uncomfortable isn't it?

Search for South Jersey Homes

Here’s the Moorestown Real Estate market update for October 2008.  Pended units for October were down 8 and Sold units were flat compared to October 2007; listed units were down 18 versus 2007.  This has led to a current inventory of 197 units.  Moorestown has been averaging 16 units sold per month which means there is currently 12 months worth of inventory in Moorestown. This trails the overall Burlington County market, which has 10 months worth of inventory. Year to date listed units are down 56 (a 13% decrease), pended units are down 23 (a 13% decrease) and sold units are down 34 (a 21% decrease).  See how this compares to the Burlington County Market.

Over the last 3 years the average number of units pended and sold in October was approximately 17 & 16 respectively.  This October, there were 8 pended and 12 sold. The average Days on Market for the year is 103.

What does all this mean?  If you are thinking of buying or selling right now it’s important that you seek the advice of a full time professional realtor who can best advise you as to how to take advantage of this market. 

The chart below provides you with the 10/2007-10/2008 numbers for listed, pended and sold units. 

Below is a chart that shows the average list price and average sold price for Moorestown from 10/2007-10/2008.  The average sold price is down 22% from October 2007 ($538,728) to October 2008 ($471,595).

If you are thinking of selling or buying in the near future, please don't hesitate to contact me directly at 856-222-5829. Or you may always visit me on line for tons of useful tips and ideas at no cost or obligation to you. I look forward to helping you reach your Real Estate goals.

*Market statistics as of 11/17/2008.

Here is your October Camden County Real Estate market update.  For October, listed units were down 273 units compared to October 2007, or a 35% decrease.  Pended units for October were down 109, or a 38% decrease. Sold units were down 102, or a 31% decrease.  This has led to a current inventory of 4319 units.  Camden County has been averaging 347 units sold per month which means there is currently 12 months worth of inventory in Camden County.  Year to date listed units are down 14%, pended units are down 34% and sold units are down 36%.

Over the last 3 years the average number of units pended and sold in October was approximately 517 & 543 respectively.  This October, there were 290 units pended and 324 sold.  The average Days on Market for the year is 81.  

What does all this mean?  It means that Camden County is a market to watch closely.  In other words, if you are thinking of buying or selling right now it’s important that you seek the advice of a full time professional realtor who can best advise you as to how to take advantage of this market. 

The chart below provides you with the 10/2007-10/2008 numbers for listed, pended and sold units. 

Below is a chart that shows the average list price and average sold price for Camden County from 10/2007-10/2008.  The average sold price is down 5% from October 2007 ($217,468) to October 2008 ($206,403).

If you are thinking of selling or buying in the near future, please don't hesitate to contact me directly at 856-222-5829. Or you may always visit me on line for tons of useful tips and ideas at no cost or obligation to you. I look forward to helping you reach your Real Estate goals.

Search South Jersey Real Estate

*Market statistics as of 11/17/2008.

Here’s your October Burlington County Real Estate market update.  For October, listed units were down 302 units compared to October 2007, or a 43% decrease.   Pended units for October were down 102, a 46% decrease. Sold units were down 44 compared to October 2007, a 13% decrease.  This has led to a current inventory of 3978 units.  Burlington County has been averaging 366 units sold per month which means there is currently 10 months worth of inventory in Burlington County.  Year to date listed units are down 17%, pended units are down 27% and sold units are down 28% versus 2007.

Over the last 3 years the average number of units pended and sold in October was approximately 483 & 475 respectively.  This October, there were 274 units pended and 343 sold.  The average Days on Market for the year is 89. 

What does all this mean?  It means that Burlington County is a market to watch closely.  In other words, if you are thinking of buying or selling right now it’s important that you seek the advice of a full time professional realtor who can best advise you as to how to take advantage of this market.  If you see real estate as a long term investment, now is a great time to buy or “move-up” because the numbers are working in your favor.

The chart below provides you with the 10/2007-10/2008 numbers for listed, pended and sold units. 

I’ve included a chart that shows the average list price and average sold price for Burlington County from 10/2007-10/2008.  The average sold price is up 3% from October 2007 ($259,561) to October 2008 ($267,555).

If you are thinking of selling or buying in the near future, please don't hesitate to contact me directly at 856-222-5829. Or you may always visit me on line for tons of useful tips and ideas at no cost or obligation to you. I look forward to helping you reach your Real Estate goals.

Search South Jersey Homes

*Market statistics as of 11/17/2008.

Pasadena avenue is one of the dead end streets that surround Almonesson Lake in Deptford New Jersey.  Located on the last block of Pasadena, 1835 offers a peaceful retreat with no through traffic.  You’ll feel miles away from it all, yet you’re just minutes from shopping and major thoroughfares to get you where you need to go quickly.

The ranch home is also ideal for those that are looking to downsize or need to have everything on the same level.  The price, location, size and amenities also make this home an exceptional value for those that are looking to start experiencing the joys and benefits of home ownership.

First Time Home Buyers may also take advantage of the $7500 Tax Credit being offered through the Housing & Economic Recovery Act of 2008.  For more information about how you can take advantage of this great credit send me an email, or simply give me a call at (856)222-5829.

Search Deptford Real Estate