With dozens of condos and co-ops on the market in the Montclair area, area realtors are uniting to market them in a new way. Some two dozen agents will participate in the first-ever local "Condo Crawl," from 1 to 4 pm on Sunday, Nov. 1. Sponsored by Baristanet.com, the rain or shine event will present more than 30 units currently on the market in Montclair, Glen Ridge, and Bloomfield. Agents from Coldwell-Banker, Weichert, RE/MAX, Prudential, Stanton, and Zingali Realtors will open the doors to their listings that day.
Roberta Baldwin, a Realtor® at RE/MAX Village Square in Upper Montclair, organized the event, and coordinated sponsorship with local news and current events site, Baristanet.com. "Agents today are trying to think outside the box to get their listings sold in a difficult market. We believe prospective buyers will appreciate the ease with which they can spend the afternoon seeing what's out there, on their own terms."
Buyers will be able to print out the list of open units by going to www.baristanet.com/crawl or find it in the Star-Ledger's Friday and Saturday Homefinders Section. On event day, "Condo Crawl" signs will identify those units available to be seen.
Included in the Crawl are a range of styles and locations: Montclair units at the new Commons at Bay St. Station, The Dorchester House, 101 Gates Ave. garden condos and the hi-rise Bellaire House; units at Whitestone Gardens in Bloomfield, and surprises such as a single carriage house condo conversion on Belleville Ave. in Glen Ridge - and many others.
Liz George, editor, Baristanet.com, was excited to partner as a media sponsor for the Condo Crawl. "We've followed developments in the condo market in Montclair and the surrounding areas, so the Crawl offers a great way to experience those unique offerings in person, in an efficient and fun way."
From the organizer Roberta Baldwin's point of view, the "Condo Crawl" definitely makes selling sense. "Open houses are generally too scattered to make an impression on buyers who want to use their time wisely and see the most and best available. But on Nov. 1, in just 3 hours, someone who wants to purchase in our area right now can get a really good idea of what's out there. Grab a coffee and a local newspaper or go to Baristanet to make your plans for Sunday, Nov 1!"
A Senate Committee reached a compromise yesterday to extend the $8000 tax credit for first time home buyers. They also are trying to add a $6500 credit for other primary home purchasers with a raised qualifying income limit to $125,000 for single taxpayers and $225,000 for joint taxpayers. Under the Senate panel compromise, buyers must have sales agreements in hand by April 30th and must close by June 30th, 2010. Let's hope this passes both the Senate and the House!
I was terribly embarrassed to say that my husband and I were late getting the flu shot this year (my son got his early) - we take care of our children, but often not ourselves, thinking that we just don't have to time or the need. Well, I am getting older and my "supermom" days are over. I realized that I am no good to anyone - work, my family, friends - unless I am healthy myself. So last week, we drove from pharmacy to pharmacy, often just missing the last of the available doses in the flu shot clinics held through out Essex County - finally, we landed at one clinic with a 2 hour line, but at least they had it, right?
And so now, we wait and watch for the next available run of the H1N1 vaccine - we just called the doctor to try get on a waiting list - my doctor isn't doing that, but some are. We have also been tracking www.findaflushot.com - they seem to be a great resource for information about the flu in general.
Even just being aware of the symptoms, and how it differs from a standard cold, seems to be important - and I will be the first to admit I had no idea:
How can you tell if you have a cold, or the H1N1 Flu? There are a number of symptoms that simply present entirely differently, while others just seem to present at varying levels of severity. For instance, both cold and flu will result in body & head aches and pains, tiredness and generalized chest discomfort, but in the flu, it is usually more severe. Each individual will have to make a judgment call from past personal experience as to whether or not these symptoms feel more severe than they have felt with just a common cold. Luckily, other symptoms occur in flu that usually do NOT occur with a cold, like a fever of 100°F or higher for a few days, along with the awful body chills that often come with the fever. On the flip side, colds can present symptoms that the flu does NOT, like stuffy/runny nose, sneezing, post-nasal drip and the subsequent sore throat. Also, both cold and flu may result in coughing, but a cold produces a wet mucus cough, while the flu is usually a dry hacking cough. Lastly, the flu has a really fast take down - it's the lion taking down the gazelle - one minute you are fine, the next minute you are balled up on the bed shivering like a Chihuahua. The cold usually announces itself more gradually - it calls ahead and leaves messages about its visit.
Oh, and what is the difference between H1N1 and the regular flu? Virtually nothing, apparently! Although according to one doctor on Medpedia, the preliminary findings of analysis of cases in Mexico, swine flu patients may present with runny nose, diarrhea, nausea, vomiting, shortness of breath and joint pain, too. Check out the full answer at: http://www.medpedia.com/questions/279-how-do-the-symptoms-of-h1n1-flu-differ-from-the-common-cold#answer_232
We're all parents here - we know how to prevent the spread of illness - constant hand washing, stay home when sick, cover your mouth when you sneeze, dispose of tissues, etc. - this is not rocket science, just common sense.
SO...I recently had the pleasure (or pain - depends on your POV) of attending school tours for elementary schools in both Maplewood/South Orange and Glen Ridge, NJ - both great towns with great schools, but also very different. At my first tour, I found the experience to be chaotic and uninformative - which turned me off to the school immediately. Oh, what was a mom to do?????
Upon further reflection, I realized that I was a poor advocate for myself - I chose a difficult time of day and an inappropriate tour guide and asked very few useful questions! So, of course I walked away scratching my head! So I have a few notes here that I want to share with you regarding school tours - just a few thoughts so that you won't have the same experience.
First, choose your time of day carefully - if you want to see chaos, go at lunchtime - this way you can see how they manage their traffic flow, recess class mixing and how the kids mingle during their downtime. I was also pleased to see that at some schools, the children were in charge of various lunchtime duties for their class, which was nice. If you want to see kids in classrooms, then avoid lunch at all costs - this way, you can see more class room dynamic. In the morning, the kids seemed energetic, but I noted that in all the schools, by 2pm, they were walking zombies - don't let the post lunch energy dump be confused with a lackluster environment - it's probably just end of day.
Next, make sure you get a good tour guide - I got the chance to tour with principals, vice principals, administrators, as well as teachers. I tended to get the best, most honest feeling answers from the teachers - they ARE the ones down in the trenches. They had informative things to say about class size, inclusive classrooms, the struggle between teaching kids to learn vs. teaching towards the standardized testing - I really felt like many of the teachers could talk about these issues, while administrators and principals often have clearer descriptions about some of the bigger picture - new curriculum directions, ideas for further school improvements, etc. Your best bet is to try to get a chance to talk to both teachers and administrators when you tour a school.
Technology is a big part of new teaching initiatives - smart boards, smart tables, computers in every room vs. computers centers...while I love the technology, I am not sure that my kid will learn better with all of this stuff. I think they will certainly augment his learning experience, but I don't assume that his performance will suffer without these items. Computers are everywhere, and I think a "typing" class is kind of a joke - I am assuming that kids probably pick that up from usage at home. I think we shouldn't be stunned by technology as the be all and end all of modern education - I want to see a big, well-organized library full of ACTUAL books and a nice indoor and outdoor space for physical education and recess, full time guidance counselor/social worker and school nurse, art room, music class, and due to the reduced mandated hours for science and social studies (so that schools can increase their time for language arts and mathematics - see previous snarky comment about standardized testing...I despise No Child Left Behind...), let's see that material being integrated into the course work for Language Arts and Mathematics in a more "whole learning" approach.
Lastly, there are questions that just kind of popped up that were extremely informative - things like:
- How do you handle bullies at school?
- How do you help new students acclimatize?
- What events or programs do you have that increase cultural awareness?
- Do you serve hot and cold lunch and if so, do you use a debit system?
- Do your teachers take initiative (grant writing, sponsorship outreach) in finding resources to fund special arts or science programs (as funding for these programs have been cut nationally)?
This is just a sample of questions - I welcome any and all suggestions for other questions to ask - I think that parents, myself included, can use all the help they can get in navigating, and getting the most of, their local public school system.
It's been a difficult summer here in our household - we've struggled, no doubt as many of you had, with summer illnesses that have wracked our family with doctors visits and prescription antibiotics. Even a bout with pink eye after a particular raucous birthday party, and a trip and fall that resulted in a lump the size of Texas and an ER visit because it was followed by vomiting and dizziness. Most of my friends have battled similar issues - upset stomach, coughing and feverish malaise. And with the healthcare debate raging in our country, I had a few thoughts about how to decrease your healthcare costs...just in case this works for you...
For those of you with healthcare through your work...well, la di da and good for you! You are the lucky ones, and we are thrilled for you. For those of us who have had our benefits slashed due to the economy, or who function as independent contractors have had to search out our own healthcare, and with families, the system isn't always kind on your wallet. After tedious weeks of research, my husband and I discovered that because most insurance companies put a premium on family plans, you may be paying more for a family plan than with individual insurance for each member of your family. We noted that with Amerihealth, for instance, it was cheaper to buy each of us an individual policy over the family policy, which seems to make more sense once you have more than two children (as the family policy is the same price no matter how many kids you have). At the same time, because my husband and I were NOT planning on having another child this year, we reduced my maternity care for the year, which saved us a couple of buck - we can always reinstate during the next renewal period if we decide that we want to try for another baby.
Interestingly enough, I have had some difficulty getting our family physicians to not over-prescribe for us. We don't have the best prescription drug coverage, and I have found myself insisting to our doctors to write us prescriptions that have generic versions in situations where feasible. So for instance, when I needed a simple amoxicillin based antibiotic, I had to struggle pretty hard to get my doctor to write for a generic amoxicillin, rather than the name brand, which costs $65 as opposed to the $4 at the Target pharmacy! But persistence pays off and you have to advocate for yourself in these cases.
What else is to be done other than to take advantage of the family buy-one-get-one-free eyeglass deals...and of course, there are free clinics all over NJ for both medical and dental needs - check them out at http://freemedicalcamps.com/vcity.php?stateid=NJ. Most of these places are primarily for low income residents of the community, and may ask for a donation or charge a small fee. I know when I was a student, I utilized these services in NYC myself all the time, so I know the value of a free community health clinic.
Back to the routine of summer life, just as it is ending, right? Great, only two days left on my antibiotics...let's hope that is the last of the summer bugs to go around...
Local festivities seem to be the place to be this summer, as many of us put the big family trips on hold due to the economy - aside from a family wedding in DC, we don't have much of anything planned. Of course, this thought sends me into convulsions - "how do I keep my kid from going insane this summer with boredom? Besides sending them to camp and mini-camp and soccer camp and music class and art class and swim class and joining the town pool and going to gym class (need I go on????), we take advantage of the playgrounds and schedule as many play dates as we can bear to handle (because if you go on them, you have to HOST them, too, right?). Well, I have some suggestions that I think may offer families some one-off activities and fun day-trips that will keep the summer feeling fun and exciting. This is the first posting for a blog series this summer all about family fun within a day's drive.
About an hour west of the county on I-78 and I-287 is the town of Flemington, NJ, which has some of the best summer programming events I have ever seen. Their business association sponsors fun activities from May to August, including a recurring Classic Car Show, which my son is totally nuts for. Hundreds of classic cars are on display, entered by their owners, many of whom seem to travel around from car show to car show the entire summer - a tight-knit group who seem to know each other well, and who mostly seem pleased to have my toddler gawking at their cars with admiration and wonder. Last summer, my son and I relaxed with a lovely dinner at a sidewalk café and watched the cars go by.
The town also hosts a continuing "Music on Main Street" series, as well as a Family Film Night, both of which seem to be very well-attended all summer long. Oh, and don't forget, they do a have a rather anemic, but fuctional outlet mall (which includes a Mikasa, a Le Creuset, and the [in]famous Flemington Furs, of course), in case you grow weary of the kid focused events and want to get a little somethin' somethin' for yourself. Ooo, don't miss this really fun store in the Flemington town centre called RED VANILLA - it's a factory direct store with some really cool housewares at really reasonable prices.
Last but not least, the model train and doll museum are located on Rt. 202 - behold the wonder of NORTHLANDZ! Well, basically a really well-to-do gentleman by the name of Bruce Williams with a huge passion for model trains overfilled his basement with fantastically intricate scenes and train structures, and eventually, they got a space and display over 8 miles of model train track, thereby creating the model train gallery that is Northlandz. It is amazing - when my son was 18 months, he spent 2 hours walking through the gallery, which included a doll museum, a dollhouse, as well as a huge pipe organ display. Of course, afterwards, we also took a short ride on their steam engine replica through their little wooded area off to the side of the property. It's a day trip that we are planning to definitely do again this summer, as his fascination with trains has only compounded. http://www.northlandz.com/
For information about the calendar of events in Flemington, check out their website: http://www.frbanj.com/calendar.html - lots of great events.
Next blog, I'll be chatting up a few more local events...
Let's talk a little about some exact numbers of homes sold in Essex County from 2006 (the last "high" year of the market) to the first 2-and-a-half months of 2009. I noticed something interesting, which is that if you look at the chart below, you will see that in the towns we sell the most homes in Essex County, there has been roughly between a 1/5 to 1/3 drop off in the number of home sales, with an average national loss of about 10-15% in home values in general.
Amid all this dark and ominous sounding news, I did note one interesting positive thing - with the lower home prices, first time home buyers are out in full force - buying and borrowing - with great success. Between January 1st through March 15th of 2009, there have been a high number of real estate transactions already in place in most of our towns (these numbers include closed transactions and houses currently under contact and in attorney review). In Maplewood, for instance, there are currently 77 home transactions - that is 33% of the entire number of homes sold in 2008 - and it is just the first 2-and-a-half months of 2009!
1/1-3/15 HOMES SOLD IN 2008 2007 2006 2009 % of total homes sold in 2008
(Information above provided by the GSMLS, and does not include information regarding private home sales, bank foreclosures and homes for sale by owner).
What does this tell us? That folks are taking advantage of the lower home prices, as well as of the properties that are in financial distress...that banks are still lending, even if it is a tighter process than before...that private sellers are more negotiable...and that a home is and should be just that...a home.
This isn't the stock market - a home is not JUST an investment. It's a place to live and grow, raise a family, chase pets in the yard, spill red wine on your new carpets, learn to build a fire in a fireplace for the first time, cut jagged gashes into your lawn because you have no idea how the new lawnmower works, and-oh-my-god-there-is-so-much-to-do-when-you-own-a-home-and-it-never-ends-argh! But you love it. Because it is your HOME SWEET HOME.
So the stock market has rallied for 5 days in a row now, right? Fingers crossed...
For past, present and future clients of The Baldwin Dream Team:
It has been a turbulent time, in our professional and home lives - I know that the real estate market has been bumpy, and that has caused stress for my family, as well. Luckily, here in the northeast, we have mostly managed to keep our heads above water, with our home values dipping, but not in a catastrophic manner. A LOT of information is coming at us at breakneack speed about the new stimulus plan, so over the next couple of weeks, anything I can find that puts it in plain terms will be found here on the blog (so come back to look for more, similar posts). So here is a little help in understanding all of it, courtesy of our friend, David Rubenstein at Wells Fargo Home Mortgage.
Let's talk a little about the Tax Credit announced in the latest Economic Recovery Act:
First-time homebuyers who purchase homes from now until the end of November 2009 may be eligible $8,000 or 10% (whichever is lower) of the value of the home tax credit. (A tax credit is very different than a tax deduction - a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.) The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years, but not if they stay past the 3 years.
Tax Credit Versus Tax Deduction:
It's important to remember that the $8,000 tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, so, if a homebuyer were to owe $8,000 in income taxes and would qualify for the $8,000 tax credit, they would owe nothing.
Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a homebuyer is liable for $4,000 in income tax, he can offset that $4,000 with half of the tax credit... and still receive a check for the remaining $4,000!
Let's talk about how the Phase Out works:
According to the plan, the tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.
To break down what this phase-out means to homebuyers who are over those amounts, the National Association of Homebuilders (NAHB) offers the following examples:
Example 1: Assume that a married couple has a modified adjusted gross income of $160,000. The applicable phase-out to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time homebuyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.
Example 2: Assume that an individual homebuyer has a modified adjusted gross income of $88,000. The buyer's income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.
Remember, these are general examples. You should always consult your tax advisor for information relating to your specific circumstances.
Let's talk about Homes that Qualify
The tax credit is applicable to any home that will be used as a principle residence. Based on that guideline, qualifying homes include single-family detached homes, as well as attached homes such as townhouses and condominiums. In addition, manufactured or homes and houseboats used for principle residence also qualify.
Hope this helps to clear up some of the confusing language that is out there about the first time home buyer tax credit - I will continue to scour for more easy to understand explanations about the Recovery Plan.
All the best in these challenging times...for all of us...
Okay, I'm not in the habit of showing too much pride or emotion, but I have to share with you the events and awards at ReMax's statewide luncheon that was held in fabulous and sunny East Brunswick yesterday. It was a chilly and gray morning, and my teammates and I stuffed our legs into stockings and donned our suits and drove down together, at the behest of our fearless leader, Roberta Baldwin, and with the aid of her tricky and temperamental GPS system, which I have dubbed "Hal." After what seemed like miles of traipsing through back roads, we arrived at the eco-futuristic glass behemoths that constitute the Tower Center, and specifically, the Hilton in East Brunswick.
Navigating parking, registration and the coat check are truly the crux of what most people despise about conference events - endless lines and idle small chit chat with people you don't know who are essentially more competitor than colleagues (I'm talking about you, Re/Max Quality Homes in Teaneck! We've got our eyes on you guys - eyeing our chocolate mousse dessert like our condo market share in Fairfield! I'm kidding - we shared a table with these guys that they were fantastic fun.) The food was edible but uninspired, as expected when a hotel caters to approximately 700 people at once, and I saw cubes of yellow cheese sad and forlorn on the floor, dropped as folks were jostled in the lobby that was too small for the champagne hour preceding the event.
Despite my rather grim description of the event, there was one great thing - an energy in the room that virtually shook the hotel. Every agent we came across and spoke with had the same sense of "geist" - something so simple that it seemed almost ridiculous. And here is what it is, summed up in one sentence - IF YOU CHOOSE TO STAY IN THIS BUSINESS, TO SUCCEED IN THIS TOUGH MARKET, YOU JUST HAVE TO WORK HARDER. That was it. Simple. It was as though everyone in the room had picked themselves up after a gust of wind threw them down, dusted themselves off and just kept going. We are going to pound the pavement to find more clients, then find those clients the perfect home. We're going to make sure we are relevant in this economy. We are going to be creative with our marketing strategies for selling your home. And as for the Baldwin Dream Team? We are going to be your friend and agent - a holistic approach to real estate and experts in EVERYTHING...and that, my friends, is how we will succeed again in 2009. I'll bet Sisyphus ain't got nothing on us.
I have to share the stats with you - just because they are too great not to. With almost a quarter of the entire company in NJ in attendance at this event, with the room packed to rafters, it only makes Roberta and our team's achievements in 2008 more shocking to me, and secretly thrilling. The Baldwin Dream Team was blessed with a Chairman's Club distinction with a gross yearly commission of between $500,000 to $999,999, which is reflected in the over $50 million in property sales in 2008. My lovely teammate, Tamima Friedman and myself were awarded individual distinctions in the 100% Club, with just under $27 million in sales together, and we look forward to the newer members of our team doing the same in the next year or two as they develop their careers in real estate. Additional awards were received for the position of #2 team in NJ for commissions, as well as #9 team in NJ for number of transactions for 2008.
I felt so good that I got a little "handsy" with Max, the ReMax balloon mascot...if I get brave enough, I'll post it next week when I track down the picture. Yeah, the champagne and the numbers just went to my head...but can you blame me?
And we couldn't have done so well without you, our dear clients. Thank you for believing in us.
Recently, a client of mine decided to refinance their home because of the low interest rates - with closing costs of roughly 3500 for a mortgage amount of 550k, even a lowering of the rate by half a point was going to save them a significant amount of money per month. And with rates as low as they are right now, many people are talking about cashing out and remodeling their homes. Which raises the question, where should you spend the money?
Below is a breakdown of renovation projects - a national average of how much a particular job costs, and how much (via percentage) you can expect to recoup for the job when the home is sold:
What does all this boil down to? Well, you get the best return on things like sprucing up your kitchen, replacing old windows, adding a deck and updating the exterior with new siding. And while these numbers can serve as a general guideline, they may not apply to your specific regional area or renovation project results.
And lastly, while there are some projects that are more financially valuable than others, if you REALLY need that additional family room space, why wouldn't you do it for the sake of improving the quality of life for you and your family in your home?
I'm still debating it myself - should I gut my 1980's kitchen...or could I hold off for another couple of years and take a really nice vacation instead? Hmm...
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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