Road Updates in Gloucester County

If you live in Gloucester County, you know all about the 322 Bypass road work.  It almost seems endless, even though we know the end result will likely be very worthwhile.  In order to keep our community a desirable place to live, these types of improvements our necessary to keep up with the growing number of Gloucester County residents.   Since I have been selling real estate in Gloucester County, it has been remarkable how our community has grown.  As a realtor, it is a nice selling point to prospective buyers coming to look for homes in Gloucester County, when I can say we have a community that keeps up with the maintenance needed for the residents.  So even though the road work can be a nuisance at times, I am thankful that it is taking place.

In addition to the 322 Bypass here is quick run down of some other repairs you will likely see this spring, summer, and fall.

• <!--[if !supportLists]-->Mantua, Main St. Bridge Replacement

• Franklin Township, Coles Mill Rd. Bridge Replacement

• <!--[if !supportLists]--><!--[endif]-->Greenwich Township, Tomlin Station Rd. Bridges

• <!--[if !supportLists]--><!--[endif]-->West Deptford, Delaware St. Bridge Replacement

• <!--[if !supportLists]--><!--[endif]-->Washington Township, Fries Mill Rd & Hurffville Cross Keys Intersection

• <!--[if !supportLists]-->Deptford Township, Resurfacing and Signal Improvements on Almonesson  Rd.

Approaching a Short Sale in Gloucester County, NJ, Some Tips for the Buyer (Part 1 of 2)

A Few Tips For the Gloucester County buyer:

•·         Keep in mind that short sales do not only occur because of an anticipated foreclosure.  Sometimes a lender will accept a short sale if the value of the property has fallen and/or if the seller owes more than the property is worth in the current Gloucester County real estate market.  So the sellers may not have defaulted on their mortgage.

•·         The lender is generally only willing to accept a short sale for a property to bring the price in line with other comparable homes on the market.  Not below them.  So I wouldn't spend to much time going from Gloucester County property to property trying to low ball lenders.  It is VERY unlikely that they will negotiate that low.

•·         Negotiating with the lender can take a great deal of time.  Generally the lenders have committees that need to approve the short sale and this approval process can sometimes take up to 6 weeks or more.  The average is likely closer to 2 to 3 weeks.  Consequently, there is little chance you will be closing on a short sale in 30 to 40 days once you present an offer.  And therefore not in your new Gloucester County home too quickly!  However, the savings you could potentially realize may be worth the wait!!

•·         Do your research on the property before making an offer to purchase.  My recommendation would be to work with a Gloucester County Realtor that would know what to look for and who could recommend a reputable real estate legal professional.

•·         Be cautious of Gloucester County homes with 2 loans and know exactly what that means for you as the buyer.  If you come to an agreement with a lender where 2 loans exist, make sure you know of all deadlines and expirations and that they are similar for both loans.  

Have you been to the Gloucester County Store?

It almost sounds like an old country store where you would expect to buy small candies and fountain soda.  It is definitely not that though.  In fact, it is far from that.   This store is not on the corner down town, it is at the Deptford mall, and you don't buy candy there, you get passport books, id cards, and finger-printing .

Although it sounds like a funny product offering, it is actually a great idea and a great resource for us here in Gloucester County.  This store has been opened in the Deptford Mall for Gloucester County residents so that we can take care of a variety of activities outside of normal town hall hours.  Some of the things you will be able to do at this Gloucester County Store,

Passport Books
Passport Cards
Identification Cards
Trade Name Certificates
Notary Oaths
Veteran's Services (Including ID Cards, Vending Licenses and recording of DD-214/Honorable Discharges)
Fingerprinting age 5 and up. (1st Saturday of every month. 12a.m. - 4 p.m.)

The hours are 10 AM to 9PM Monday through Friday and 10 to 5:30 on Saturday.   I would encourage you to take a look at their site and swing on by next time you are in the Deptford Mall.

Celebrate Earth Day and Our Gloucester Community 2008

As a realtor, I know first hand the importance of having clean and well cared for community surroundings.  It is the places in Gloucester County that really make the difference for prospective buyers when they are seeking out their next place to call home.  It is also the difference for current Gloucester County residents who cherish and love the community and all that it offers. 

As many of you know, Gloucester County is a melting pot of unique styles and trends.  In our community you can be in a country or city setting, visit a historical or modern museum, and take part in an enormous variety of events whether it be very casual or possibly even black tie.  Irregardless of what you enjoy most about Gloucester County it seems we truly do have something to please everyone.  And it is all of these things, that really makes the difference for residents and prospective real estate purchasers. 

So with Earth Day right around the corner, I thought it was very appropriate to share with you the details of our Gloucester County earth day celebration.  I believe it is a time to celebrate the wonders of our earth and its preservation, as well as the wonders of our community and its preservation.  By keeping a conscious thought on our environmental impact we can make a difference and keep our Gloucester County community the wonderful place that it is; a place that makes a difference for prospective buyers between just looking for their next house or looking for their next place to call home. 

I would therefore encourage you to stop by the Washington Lake Park Amphitheater on April 19^th to celebrate Earth Day and our Gloucester County community.  It will be held from 10AM to 4PM and be filled with loads of informational and fun events.  There will also be a recycling spot where you can bring batteries, cell phones, eye glasses, hearing aids, printer cartridges, and spring plants (the spring plants will be replanted in Washington Lake Park).  While there you can also pick up some free Norway Spruce and White Pine seedlings for use on your own property. 

Gloucester County Open Houses - Brian Ziegenfuss

Gloucester County Real Estate Market Update - March in Review

If you would like to discuss how your property may fit into the current Gloucester County real estate market, give me a call, I’d love to discuss it with you and provide a full market report and complimentary market analysis of your property. With interest rates falling again it is prime time for first time home buyers and individuals wishing to buy second homes or investment properties.

Gloucester County, NJ Open House - 112 Revere St, Sunday March 30th From 1 to 4

Make this executive retreat your own or lease to purchase for 4400/month! This home is situated on 2 acres of wooded seclusion. The property features an inground pool, paver patio, basketball court in addition to walking trail. This home and land offers plenty of space and activities for all. Enter this domain through the dramatic two story foyer equipped with solid oak stair case and oak floors throughout. The home continues to flow into a spacious eat in kitchen with island and breakfast bar also featuring an extended sunroom overlooking secluded back yard and pool. The right side of the home has a palladium window conservatory overlooking rear yard. The master bedroom features dual walk in closets, corner soaking tub facing tree line. This home also features a full finished basement, fireplace and home study/den. Truly one of a kind and a must see! Make an appointment today!Lease to own for 4400 a month

Gloucester County Real Estate Update

Well the end of the 1^st quarter is right around the corner, which generally means the Gloucester County real estate spring market should be in full force.  It has been showing signs of increased activity lately and I therefore thought it may be helpful for you to see a quick recap of the January and February real estate activity for Gloucester County.  How will March close out?  Come back and find out, Ill be posting the March numbers at the very beginning of April and sharing with a comparison to 2007. 

February 2008 In Review

January 2008 In Review

Gloucester County NJ Real Estate Market and Foreclosures

Over the past few years national foreclosure statistics have been on the rise.  Whether reading the newspaper, watching the news, or surfing the internet, the number of foreclosures and short sales continue to make headlines.  These trends are evident in the Gloucester county real estate market.   Although foreclosure numbers are growing at a slower pace in 2008, foreclosures are still having a strong impact on our Gloucester county real estate market.   Realtytrac.com is reporting that one in every 615 New Jersey households have been involved in foreclosure filings, which is up 11.8% from February 2007. 

As a prospective buyer or seller of Gloucester County real estate it's very important that you understand basic foreclosure terminology.  Here's a quick list of terminology.  Please feel free to contact me if you're faced with either buying or selling a Gloucester County foreclosed property.  I'd love to help.

Judicial Foreclosure -  Judicial foreclosures are those which require the lender to take the borrower to court in order to foreclose on the property in default.

Non-Judicial Foreclosure - Non-Judicial Foreclosures are those in which the mortgage deed contains a power of sales clause allowing lenders to foreclose on a property outside of the court system. 

Foreclosure - the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default.

Forbearance - forbearance is a lender's postponement of foreclosure in order to give the borrower time to catch up on late mortgage payments.

Right of Redemption - right of redemption is the right of a homeowner to avoid foreclosure by paying off the amount due the lender on the mortgage.

Foreclosure Auction - when a bank auctions a repossessed property they will typically set the starting price as the remaining balance on the mortgage loan. Many times, however, in a weak market the bank will set the starting price at a lower amount if it believes the real estate securing the loan is worth less than the loan.

REO (real estate owned) - when the remaining mortgage balance is higher than the actual home value, known as an Upside-down mortgage, the bank is unlikely to attract auction bids at this price level.  A house that went through foreclosure auction and failed to attract any bids becomes property of the bank.  The bank will typically try to sell it at a loss later through standard channels.

Open House Sunday, 105 Colin Powell Drive in Glassboro

Brand New Construction for the First Time Buyer.  Being offered for only $199,000.  Don't hesitate on this one.  3 beds, 2  bath rancher. Open House will be held on March 16th from 1 to 4.  Call Brian for More details.