The Resourceful Realtor: Thomas McCormack, Resources Real Estate

Find where to get your seasonal or H1N1 Flu shot - Monmouth County NJ

Thomas McCormack (Resources Real Estate) — Tue, 03 Nov 2009 13:34:38 -0600

Find a Seasonal or H1N1 Flu Shot

There's a lot of misinformation this year about the flu so I thought it might be useful to publish an official source of information.

The State of New Jersey Department of Health has published a webpage where you can find where to get your seasonal or H1N1 flu shot. Click here to visit that page.

They plan to provide information about where to get vaccinated on this page when that information is available. H1N1 flu vaccine is arriving in very limited quantities, and the vaccine is recommended for certain target groups.

Each week, additional shipments of H1N1 vaccine arrive in the state. As H1N1 flu clinics are scheduled by local health departments and other providers, this web site will be continuously updated. Please continue to use this page as a resource for finding a flu shot. Retail locations, federally qualified health centers, local health departments and some schools will likely be offering the H1N1 vaccine.

Governor Corzine has ensured that anyone who wants to get an H1N1 flu shot will be able do so regardless of ability to pay. Free vaccinations for the 1.2 million uninsured New Jerseyans will be offered at public health clinics in every county throughout the state. For those insured, vaccinations will be covered by their provider.

Symptoms of H1N1
The symptoms of H1N1 flu include fever, cough, sore throat, body aches, headache, chills and fatigue. Some people have reported diarrhea and vomiting.

H1N1 Vaccine Target Groups
It is recommended that certain target groups be among the first to receive the H1N1 vaccine as it becomes available. These groups include:

Pregnant women
Household contacts and caregivers for children younger than 6 months of age
Healthcare and emergency medical services personnel
All people from 6 months through 24 years of age
Persons aged 25 through 64 years who have health conditions associated with higher risk of medical complications from influenza.

Seasonal Vaccine Target Groups
Some groups are more likely to have complications from the seasonal flu. These include:

Those age 65 and older
Children younger than 2 years old
People of any age who have chronic medical conditions (e.g. diabetes, asthma, congestive heart failure, lung disease)

Detailed information about the H1N1 flu is also available from www.visitmonmouth.com that will provide you with links to the Health Department and the Center for Disease Control and Prevention (http://www.cdc.gov/swineflu/) or you can call the county Health Department at 732-431-7456 or the New Jersey Department of Health and Senior Services at 866-321-3751.

The Navy Lends a Hand in Highlands

Thomas McCormack (Resources Real Estate) — Tue, 27 Oct 2009 19:44:52 -0500

Just last week Highlands was the lucky recipient of some community outreach from over 30 sailors from the USS Nassau which was docked at Naval Weapons Station Earle.

They helped restore the Kavookijian War Memorial Field, an ongoing project, did some cleanup landscape work at War Memorial Monument nearby, and more.

Later in the week they volunteered at the Robert D. Wilson Community Center where their work included painting the skate park.

Read Carla Cefalo Braswell's full story visit www.highlandsnj.com. Photos courtesy of Ken Braswell/Shoregrafx and highlandsnj.com.

Rebounding Home Sales?

Thomas McCormack (Resources Real Estate) — Fri, 23 Oct 2009 13:53:11 -0500

Since the National Association of Realtors made such a positive announcement today ("Big Rebound in Existing-Home Sales"), I thought I'd check to see how we're making out in our neck of the woods.

Good news! In Monmouth County, we're experiencing the same thing...

For single family homes September was up almost 15% for total number of homes sold compared with Sept '08. Unit sales were down from August of this year by a little less than 4%.

Overall we're still trying to compensate for the heavy reductions in sales experienced in late 2008 thru May 2009. Three of the past four months have shown an increase in unit sales. Despite this, unsold inventory remains high (although even that has shrunken somewhat (about 1.5% since last year.)

Many are pointing to the 1st Time Home Buyer Tax Credit (trying to beat the Nov 30th Deadline) which very well may be. Although the median sale price in September ($401,000) actually increased albeit ever so slightly.

All in all, still encouraging trends. I know there's lots in the news to make people feel a bit uneasy but hopefully even modest gains on the housing front will help rebuild confidence.

Harvest Home Decorating contest for Little Silver!

Thomas McCormack (Resources Real Estate) — Fri, 23 Oct 2009 12:07:21 -0500

Is your seasonal pride showing? Does your front yard have a special Halloween, Thanksgiving or Harvest display? Then go get your digital cameras and enter Resources Real Estate's inaugural Peninsula Harvest Home Decorating contest. Tell them Thomas McCormack sent you!

Beginning this weekend, residents of Peninsula towns including Rumson, Fair Haven, and Little Silver are invited to submit photographs of their exterior autumnal decorations showcasing the creative, picturesque, and whimsical tastes of homeowners residing between the two rivers.

All Halloween, Thanksgiving, and fall house decorations will be considered.

As part of their community outreach program Sharing Resources, Resources Real Estate will donate a Thanksgiving pie for every home submitted to the contest to Lunch Break in Red Bank and will make a monetary donation to the firehouse of the winning home's town.

Entries can be submitted by uploading photos here or by depositing snapshots in the wall mailbox at the agency's 112 River Road address. Submissions can be made by the homeowner or nominated by another party such as a friend or neighbor.

Voting will take place in person as well as online and the winning homeowner will receive an exquisite floral table arrangement for their Thanksgiving setting to accompany their seasonal style.

Resources Real Estate owner Carolynn Diakon said, "We hope this contest will inspire homeowners to take advantage of the beautiful, seasonal resources our area has to offer in an effort to complement the exceptional architectural detail of Peninsula towns."

Diakon hopes the contest will become an annual event - one in which area residents will anticipate and plan for each year during the months leading up to and including autumn.

Every Monday through Friday, Lunch Break serves over 2,500 free hot meals each month at its location on 121 Drs. Parker Boulevard with another 400 meals being delivered to home bound seniors. The Pantry also provides groceries to those who need help and more than 500 children receive Christmas gifts. Social, medical and legal services are available onsite and clothing in good repair is handed out once each month.

Peninsula Harvest Home Decorating contest submissions can be made until Monday, Nov. 23 and the winner will be announced by a special guest at the Resources Real Estate offices on Tuesday, Nov. 24 at 10:00 a.m. For more information call 732-212-0440.

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Harvest Home Decorating Contest announced!

Thomas McCormack (Resources Real Estate) — Fri, 23 Oct 2009 12:06:11 -0500

All Halloween, Thanksgiving, and fall house decorations will be considered.

Voting will take place in person as well as online and the winning homeowner will receive an exquisite floral table arrangement for their Thanksgiving setting to accompany their seasonal style.

Diakon hopes the contest will become an annual event - one in which area residents will anticipate and plan for each year during the months leading up to and including autumn.

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Harvest Home Decorating Contest!

Thomas McCormack (Resources Real Estate) — Fri, 23 Oct 2009 12:04:03 -0500

All Halloween, Thanksgiving, and fall house decorations will be considered.

Voting will take place in person as well as online and the winning homeowner will receive an exquisite floral table arrangement for their Thanksgiving setting to accompany their seasonal style.

Diakon hopes the contest will become an annual event - one in which area residents will anticipate and plan for each year during the months leading up to and including autumn.

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2009 Fall Festival & Open House @ the OLPH Community Garden

Thomas McCormack (Resources Real Estate) — Fri, 02 Oct 2009 14:38:50 -0500

2009 Fall Festival & Open House

@ the OLPH Community Garden

Sunday, October 4^th9:30am - 2:30pm

Preserves, Baked Goods & Fall Container Gardens for sale

Kids Activities
Garden Tours
2010 Information & Plans
Fall Basket Raffle

See you in the garden!! (Located behind parking area at OLPH at Rt 36 South and Miller Street.)

July Home Sales ~ A Promising Sign?

Thomas McCormack (Resources Real Estate) — Sat, 12 Sep 2009 06:42:27 -0500

Local: Monmouth County home sales experienced a staggering 120% increase in July, more than doubling the sales of the previous year (1678 vs 763). Year-to-date Monmouth's sales are still down significantly ~ -36% ~ but the recent sales figures are certainly encouraging. Condo sales also experienced a large increase, with an almost 65% increase over sales in July 2008.

Price-wise Monmouth's July figures show a median sales price increase of 7.3% from June but still 8.5% lower than July 2008.

National: In July new home sales across the nation jumped more than forecast, reinforcing signs the economy is rebounding from the the recession. Nationally, home sales increased 9.6% in July, the most in four years, to a 433,000 annual pace, the Commerce Department said. July's national home sales pace was the highest in 10 months and exceeded all estimates.

The median price of a new home decreased 12 percent to $210,100 from $237,300 in July 2008.

The jump in sales was led by a 32 percent surge in the Northeast. Purchases increased 16 percent in the South and 1 percent in the West. They dropped 7.6 percent in the Midwest.

NYC to DC AIDS Ride gets started in Atlantic Highlands

Thomas McCormack (Resources Real Estate) — Fri, 11 Sep 2009 14:06:56 -0500

Atlantic Highlands was the site for the beginning of the NYC to DC AIDS Ride and I was glad to be there to see the group of about 100 riders off.

Although technically the start was in Manhattan, the riders took the Seastreak Ferry from Pier 11 and arrived in Atlantic Highlands at about 8:45am yesterday and gathered in front of the Blue Bay Inn on First Ave.

After a brief intro, guidelines for the ride and basic "Rules of the Road" they were off on a 330 mile journey.

I was there to cheer on friends Chad Wolbrink and Toby Clark in what I think is an amazing feat (and, god bless them, their statue of libery hats clearly identified them from the pack). I can't even imagine making a ride of that length (let alone in green foam headgear) so I'm very impressed.

After their first day (85 miles!) they were scheduled to continue on today and arrive in Cape May this evening - but the weather made riding today pretty much impossible. They are supposed to arrive in Washington D.C. on Sunday.

To keep up to date on their journey (and donate to the cause if you're so inclined) visit the ride websites of Chad or Toby.

Taste of Sea Bright tickets now on sale!

Thomas McCormack (Resources Real Estate) — Thu, 10 Sep 2009 16:22:04 -0500

All aboard!

The 2nd Annual Taste of Sea Bright is coming Saturday, October 3rd from11:30a-5:30pm. You can enjoy a day-long eating & drinking excursion and ride the trolley from one end of Sea Bright to the other all in an effort to increase awareness of Sea Bright's thriving business community.

We did this last year and had a blast!

Sampling everything from sushi to fried seafood to pizza, as well as various beers, wines & spirits, you can say that those participating were having a great time. (Don't forget to bring your I.D.!) We met some new friends and were even thankfully able to call cab to take us home!

For $40 you get: an admission bracelet, map/passport, all food, drinks, cocktails, unlimited trolley/bus rides throughout the event - and you'll even a complimentary SBBA backpack to carry all the goodies you'll receive from the stops on the map!

This year's participating businesses include:

Algarve Milano Restaurant

Anjelicas Restaurant

Bagel Cove

Bain's Hardware

Brooks Seafood/Something Fishy

The Dockside

Donovan's Reef

Elements Steakhouse & Lounge

Gracie & The Dudes Ice Cream

Ichabods Restaurant

Kotobuki Japanese Cuisine

Mad Hatter

McLoone's Riverside Dining

Ocean Avenue Grill

The Quay

Sea Bright Liquors

Sea Bright Pizza

Stacey's Treasures

Trattoria "G"

Yumi Neo-Asian Sushi

I've already got my tickets, my backpack and my passport! I heard that half of the tickets sold the first day they were made available so don't delay! Only 1000 tickets will be sold!

Visit the Sea Bright Business Alliance website for more information

First Time Home Buyer Tax Credit ~ Only 3 Months Remaining!

Thomas McCormack (Resources Real Estate) — Tue, 01 Sep 2009 13:31:17 -0500

If you've been kicking around the idea of buying your first home ~ or, if you've owned a home before but haven't owned one during the past 3 years ~ TIME IS RUNNING OUT on the federal goverment's offer of a Home Buyer's Tax Credit up to $8000 for the purchase of a primary residence to qualifying buyers.

IMPORTANT: You must close on the purchase before December 1, 2009.

That means you need to:

Find the house,
Negotiate an accepatable offer,
Perform your inspections, appraisals, title search, etc.,
Apply for your mortgage, and
Reach the settlement table to close escrow

Within the next 90 days. Given that most mortgages these days require a minimum of 45 days that means you have about 6 weeks to identify your next home and successfully negotiate an acceptable contract.

In short, that means you better GET TO WORK!

Under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home before December 1st receive up to $8,000, or $4,000 for married individuals filing separately. People can claim the credit on their 2009 tax returns next year.

$8000!

One would hope that if falling prices and historically low interest rates weren't attractive enough, the offer of FREE MONEY would sweeten the deal enough to get those procrastinators out there off the couch and into the car of their favorite real estate professional! (If you need any recommendations, just let me know...)

Read the IRS press release about it here. And you'll need IRS Form 5405 to claim the credit.

Six weeks... the clock is ticking!

Are foreclosure websites worth paying for?

Thomas McCormack (Resources Real Estate) — Tue, 01 Sep 2009 09:26:01 -0500

Q: Looking for at least a 2 bed, gas, central air, home or townhome in the $140,000 range. Was thinking about pre-foreclosures and foreclosures. Can we view these homes? What is a good resource to find these homes? Are sites like realtytrac and foreclosure.com worth paying for their services?

Rich, Home Buyer
Brick, NJ

A: Rich,

As a Monmouth County Realtor, I can certainly help you with homes in my market area. That said, most homes are selling for a good deal more (median single family sold price in June was $358,704; median condo sold price was $265,302). While there are some short sales and foreclosures in the market, many of those are trading for higher.

If you'd like a list of what's currently available in your price range let me know and I'll email it to you.

In terms of the sites you mentioned, it's important to understand that many of these types of sites are pulling information that may indicate that a homeowner is behind in payments but not necessarily indicating that the property is available for sale. If they're not for sale then you are unlikely to be able to view the home.

Keep in mind that if they foreclose on the property, most banks will list it with a realtor to ensure that it gets the maximum exposure which translates into a faster sale for the bank. Likewise, homeowners who are pursuing a short sale (wherein they're asking a bank to accept less than full repayment of the outstanding mortgage debt) must have their property listed for the same reason as listed above. So in either case, the vast majority of these homes will be listed in MLS.

While you may be able to identify properties owned by homeowners in some type of financial distress, there's no guarantee that they're interested in selling at this time or that they won't be able to work the problem out without a sale (e.g. loan modification, etc.) While you may be able to find a willing seller, chances are they'll be less likely to negotiate (for-sale-by-owners are notorious for having an inflated view of the value of their homes). In the interest of achieving your goal more quickly (and for you to have representation during the transaction), working with an experienced agent would be a wise choice. And the cost of the service is likely to be paid by the seller.

Hope that helps.

Q: Is it worth buying a house in Middletown, NJ in this current market?

Thomas McCormack (Resources Real Estate) — Mon, 24 Aug 2009 16:28:17 -0500

Q: Is it worth buying a house in Middletown, NJ in this current market?

A: It's a great time to buy a house if you're financially qualified. If you thinkthat's simply a convenient answer for a realtor to offer, consider the following:
- prices have fallen considerably in the past few years ~ for the first half of 2009 Middletown, NJ,'s average price was down over 14% from previous year (and 2008 was down 19% from 2007), so affordability has returned to the marketplace something usually followed by buyers who are smart enough to pick up the best deals
- interest rates are still at historic lows; the money you save in interest on a 30 year mortgage can make the savings due to price reductions (see above) look like pocket change
- incentives abound: some from builders looking to sell inventory by including thousands of dollars in upgrades at no additional charge, some from sellers who offer to cover closing costs or concessions to help buy your mortgage rate down even more, and some from Uncle Sam who's offering 1stTime Homebuyers (or at least those who haven't owned for three years) a federal tax rebate of up to $8000.

So, if you have a job, a decent credit score and preferably some money for a downpayment (although there are still FHA programs available requiring as little as 3.5% down), it is very much worth buying a house, in Middletown or elsewhere. I'm very familiar with Middletown... If I can be of assistance, please let me now.

Looking for a Craftsman-style Home

Thomas McCormack (Resources Real Estate) — Mon, 24 Aug 2009 10:18:06 -0500

Q: I'm looking for a Craftsman style home in Monmouth County, NJ, preferably in Keyport, Middletown, or Matawan. Can you help?

-- Aly

A: Aly, As a lover of Craftsman homes (and owner of a great 1917 California Bungalow), I can tell you there are a good number of Craftsman stye homes in northern & eastern Monmouth County. Unfortunately, searching thru MLS for them can be a bit difficult because there's no specific description of "Craftsman" or "Arts & Crafts" when searching (unlike other stylistic descriptions like "Victorian" or "ranch", etc.) I think its made more difficult because the MLS style description that is the closest match in the Monmouth MLS is "Cottage/Bungalow" which many realtors seem to avoid because the connotation tends to indicate smaller, summer bungalows that over time were converted to year-round use. Some are charming, others... not so much.

When attending the Pasadena Heritage Craftsman Weekend last year in California even I was surprised to see what is referred to there as a "bungalow"... some were massive, very expensive homes designed by architects Greene & Greene and others. Much of Pasadena, when originally developed, was built during the period that Craftsman homes were very popular so they appear throughout the city.

Because Monmouth County was settled much earlier, Craftsman homes tend to be more spread out. Keyport & Matawan have both a good number of Victorian and Craftsman homes, and Middletown has Craftsman as well as a fair amount of a similar style often referred to as "Shingle-Style".

You may also want to consider Atlantic Highlands, Highlands, Monmouth Beach & Oceanport where I've seen a number of Craftsman homes (although not necessarily available for purchase). Interestingly, a number of builders of late have been adopting a Craftsman aesthetic in new construction with wide front porches and interior details often found in Arts & Crafts homes. While these would not pass the test for a "purist", they arguably offer more architectural interest than more typical "cookie cutter" new construction.

Probably the most important question is what is your level of interest in a home that needs work... many of the homes out there are in need of at least some amount of renovation. For many buyers, this is preferable (if the price is right) rather than deal with another homeowner's "modernization" which effectively removes all the historic period details that are of interest. I know of one house that has many interesting original details (e.g. original woodwork, brick fireplace, etc) but has also endured many "improvements" that would need to be redone like '70's paneling, 80's kitchen and the loss of the front porch which was enclosed to create additional living space.) I know of another home - truly extraordinary - that was built just a few years ago but the builder used all salvaged materials so it looks like its 100 years old (this home has more English Arts & Crafts features than American A&C but there's a fairly large amount of overlap).

Hope that helps.... let me know if I can be of assistance.

Good News? Rising Trend in National Existing-Home Sales Continues

Thomas McCormack (Resources Real Estate) — Mon, 29 Jun 2009 20:58:05 -0500

Yes Virginia, it is good news.

It was announced Tuesday by NAR (National Association of Realtors) that sales of existing homes increased again in May, the first back-to-back monthly gain since September 2005.

Why?

Just a guess, but certainly increased affordability due to lower prices and the federal first-time buyer tax credit have been evident in our market.

According to NAR, nationally, existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.4 percent but remained 3.6 percent below the 4.95 million-unit pace in May 2008. Regionally, existing-home sales in the Northeast rose 3.9 percent to an annual level of 800,000 in May, but are 10.1 percent below a year ago. The median price in the Northeast was $243,600, which is 12.5 percent below May 2008.

Locally, Monmouth County single-family home sales rose 23% in May, but is down 18% from last year. The median price for a single-family home Monmouth County was $387,500, down 14% from May 2008.

But with the glimmer of hopeful news came some negative news as well regarding the housing recovery. Due to changes in lender requirements, appraisals are more and more frequently souring the deal. Lawrence Yun, NAR chief economist, said the appraisal problem is serious. “Lenders are using appraisers who may not be familiar with a neighborhood, or who compare traditional homes with distressed and discounted sales,” he said. “In the past month, stories of appraisal problems have been snowballing from across the country with many contracts falling through at the last moment. There is danger of a delayed housing market recovery and a further rise in foreclosures if the appraisal problems are not quickly corrected.” I myself recently heard of a transaction where the appraiser came from Delaware... not exactly someone familiar with the local market.

So... let's hope the encouraging news is a positive signs of things to come. The increase was less than what was expected so it is not surprising that it was less than enthusiastically received. Nevertheless, in my opinion, good news is still good news. Let's see what happens next month!

This Old House names Atlantic Highlands as NJ's "Best Old House Neighborhood"

Thomas McCormack (Resources Real Estate) — Fri, 26 Jun 2009 14:46:19 -0500

This Old House has named Atlantic Hihglands as New Jersey's "Best Old House Neighborhood" in its second annual competition.

I am proud to say I was instrumental in identifying Atlantic Highlands for the magazine having nominated the town after having been informed by the folks at Preservation Directory of the upcoming contest. The editors of This Old House included Atlantic Highlands in its subcategories that highlighted the best of the Northeast, Waterfront communities, Bedroom communities, and of particular interest to Sportsmen, Cottage and Bungalow enthusiasts, Families, and Retirees.

"Unique, tight-knit neighborhoods are precisely what we looked for in selecting the winners of our second annual Best Old House Neighborhoods contest — places that might not be on your radar but deserve to be," according to Keith Pandolfi, editor with This Old House Online. "These communities are the best of the best places to buy an old house."

Part of the submission process was to describe the town, it's character and history, architectural styles, home values and also the community spirit that supports the preservation of historic homes. The Atlantic Highlands Historical Society offers a wealth of information regarding the special treasures that can be found in the historic residences in town and I was able to supplement this with other historical and MLS data.

After the town passed the initial screening process, I was asked to provide additional photos of local historic homes (they didn't have to be available for sale) and provide some additional information to the editors.

I was very pleased when they told me they had chosen Atlantic Highlands as New Jersey's "Best Old House Neighborhood." I've long been a cheerleader for the town ever since moving to the area ten years ago. There's wonderful Victorian architecture found in both large & small houses, as well other historic styles, and there's a great downtown area with shops, fine dining, a movie theater and the marina.

It's because of towns like Atlantic Highlands that inspired me to help create the "Legacy Homes" division at Resources Real Estate.

Atlantic Highlands seemed an appropriate choice for the contest also because of the local community spirit that seeks to preserve and promote the historical character of the town. The historical society's efforts, such as this weekend's Historic Home Tour, and groups such as the online "Older Homes Group" which helps homeowners connect with available resources of particular interest to those with historic homes.

Currently available historic homes in our area ~ Victorian, Craftsman, Colonials, and more. Some fixer uppers, some fixed up. If you're looking for a more comprehensive list of available historic homes throughout Monmouth County, please contact me.

Monmouth County Parks System: Hartshorne Woods

Thomas McCormack (Resources Real Estate) — Wed, 24 Jun 2009 16:47:04 -0500

Truly, one of the best features of Monmouth County is its park system. With over 30 parks, gardens, ocean beaches, forests, golf courses, historic sites, recreation areas and marine habitats, it's comprised of over 14,500 acres and each year it offers over 4000 recreation programs with activities suitable for any age or ability.

One of my personal faves (in part because I can walk to it from my home) is Hartshorne Woods, almost 800 acres of trails for hiking, biking, mountain biking, horseback riding or walking. I've heard that it is regarded as one of the best mountain biking parks on the east coast.

It is located along the river so there are some wonderful views of the Navesink & Shrewsbury rivers as well as the ocean. Best of all, you feel like you are so far away from everything its a great way to restore your sanity when you need a break from everything. Accesible from Highlands as well as the Navesink section of Middletown, its a local favorite for people from the entire surrounding area.

For lots more information about programs, activities and all the park system's properties visit their website at http://www.monmouthcountyparks.com/

Buying My First Home - a personal account

Thomas McCormack (Resources Real Estate) — Tue, 23 Jun 2009 04:06:08 -0500

As a former long-time city dweller I resisted purchasing a home for many years, instead renting in various parts of Manhattan and Brooklyn despite many entreaties by friends and family such as "Why wouldn't you buy instead of throwing your money away on rent?" I told myself and them that I didn't want to be "tied down" to any one place, I wanted mobility... and then remained in NYC for 15 years.

Of course, had I purchased a home during that time, even a small co-op apartment, I likely would have had substantial equity to help me make my eventual move out of New York less challenging financially. But one of the main reasons I never bought was the memory of watching friends and colleagues in the late '80's who had great difficulty selling their apartments when job, love or life in general called them elsewhere. Many of these people struggled with trying to "unload" their first home and it sometimes interfered with their career plans and relocation.

During subsequent years I ignored the real estate market and preferred to fixate on my memory of the "bad investment choices" made by my friends. Although the market changed my opinion of it did not.

When I finally decided it was time for me to leave the Big Apple it was 1999 and I was certain of only two things: I wanted to live near the water, preferably the ocean, and have a space to garden. I was now in my 30's and not feeling the need to be so mobile anymore. I wanted a lifestyle and some creature comforts that apartment living was unable to provide. It was a challenge to leave my familiar surroundings and I was entirely unfamiliar with the process, requirements and frustrations of buying a home but I did it.

I have looked back many times over the past ten years, very grateful for having bought a home in Highlands, NJ, with my partner when we did. I am quite sure that had I waited, perhaps only a year or two, I probably would not have moved because of the drastic shift in house prices. I'd probably still be in a rental apartment in Prospect Heights instead of living in our much beloved 1917 Craftsman ("Home Sweet Money Pit") that's just down the hill from the Twin Lights lighthouse and a short walk to the Atlantic Ocean. Although I sometimes miss the energy and convenience of city life, I know I would not trade it for the enjoyment of hosting dinner parties on our front porch on a summer night, or dancing with friends at the summer beach concerts at Sandy Hook. It's a different life, to be sure, but a wonderful one.

So, what's my point? If the above description at all sounds familiar to your situation, I strongly recommend looking for your first home starting now. Why? Let me count the ways....

Affordability: Recently I saw a report that said affordability on a national level was at 66% which means that 66% of the people can afford a house at the median-price for their area. They give that stat an A+ rating! As the affordability rate rises, so will demand which means fewer homes to choose from and prices on the rise.
Tax Incentives: First home buyer tax credit for a home purchased in 2009 is worth $8000 and does not have to be paid back (unlike the $7500 rebate for homes purchase in 2008).
Low Mortgage Interest Rates: rates are great... below 5.5% and sometimes even below 5% with the right loan program.
Low Downpayment: FHA loans are requiring as little as 3.5% down!
Inventory: Lots to choose from here in the resale inventory as well as short sales and foreclosures.
Negotiability: Many homesellers are fatigued. They want to be done with the process of selling and move on with their lives. They also want to take advantage of the good deals out there but cannot because they have to sell first. While many are not looking to fire-sale it, they are willing to listen to a reasonable offer and probably have already reduced their price or priced it according to the market.

It's time! Let me know if you would like to start your search... I'd be glad to help!

Sandy Hook Summer Concert series starts July1 st!

Thomas McCormack (Resources Real Estate) — Fri, 19 Jun 2009 12:46:49 -0500

For me, summer doesn't truly begin until the beach concerts at Sandy Hook start. It's truly one of my favorite summertime activities... enjoying a picnic dinner & a bottle of wine on the sand with good friends.... the sound of the surf behind you, the sounds of a full band onstage in front.... dancing if the mood strikes me... Great people watching too! Bring a blanket or low beach chairs, a cooler, some food and you're all set! And be sure to take part in the 50/50 raffle which raises funds for the Sandy Hook Foundation (the winner's share is usually several thousand dollars!) See you there!

Sandy Hook Beach Concerts 2009
Wednesday Nights 6:00 P.M. - Beach E

June 24 Jobonanno & The Godsons of Soul (Rock & Roll) [CANCELLED DUE TO RAIN!]

          July 1 Tim McLoone & The Shirleys   (Rock/Americana)
          July 8 BethAnne Clayton Band (Country Rock)
          July 15 Brian Kirk & The Jirks (Rock & Roll)
          July 22 Philadelphia Funk Authority   (R & B)
          July 29 Pat Guadagno & the Candle Brothers (Folk Rock)
          August 5 Tim McLoone & The Shirleys   (Rock/Americana)
          August 12 The Robert Murdock Band (British Invasion/60's)
          August 19 The Jazz Lobsters Big Band (Swing)

Brought to you by the Sandy Hook Foundation

WWW.SANDYHOOKFOUNDATIONNJ.ORG

In case of rain, decision to cancel made after 2:00 p.m. on day of concert
Call 732-291-7733 for recording or check website.

Highlands Library Fundraiser at Havana ~ April 26th

Thomas McCormack (Resources Real Estate) — Thu, 23 Apr 2009 17:12:51 -0500

Highlands Library Fundraiser

A town's library is not just a place to store books... it's a place where everyone can stretch their imagination, encounter new worlds and dare to dream bigger.

We're proud to announce the effort to create a new Highlands Library, supported entirely from private donation and not tax dollars. If you believe in the power of books, please join us!

Sunday, April 26th from 1-4pm

Havana Tropical Café, 409 Bay Ave, Highlands, NJ 07732. Entertainment by Maureen McCrink, Mary McCrink and Carl Gentry. $25 donation

Gift certificates and Silent Auction (great items!). Cuban cuisine brunch & Cash Bar.

Call Tom McCormack for details or tickets 732-241-5695! Corporate sponsorship opportunities available!

SELLING YOUR HOME IN A BUYER'S MARKET

Thomas McCormack (Resources Real Estate) — Thu, 23 Apr 2009 17:02:56 -0500

I was invited by one of our local newspapers, The Two River Times, to contribute to a story about selling your home in a buyer's market. If you didn't get a chance to see it... here's my contribution....

SELLING YOUR HOME IN A BUYER'S MARKET: ADVICE FROM THE PROS

Price it right! Yes, you've heard it before and yes, you think you know what your house is worth but unless you're a full-time professional, you probably don't. No website is going to tell you. And comps are a guide but not the final answer. Get a professional who knows what's selling in the market, what the competition is and where your buyer is likely to be coming from.
Detail your home! When you sell a car you get a professional detailer to clean & polish every inch inside & out. Same goes for your house... it may be even be best to hire a professional cleaning team. Builders do this when new construction is completed and they wipe every surface (walls, windows, floors and if necessary, ceilings). It's got to look like it did the first time you invited your in-laws over... no, better. Paint door & window trim and change anything that steals attention away from the house.... If your decorating becomes the focus, you're doing it wrong.
The Truth Will Set You Free! Or at least it will help you move! Don't listen to your family members and friends about the price or the way the house shows. Just because you've managed to make a difficult floorplan or lousy location work for you doesn't mean someone else will think it will work for them... especially when they will only be spending about 5 minutes - 10 minutes tops - in your home.
Get Them In! Most buyers are not looking to "find" the right house... they're trying to eliminate all those that don't work. There's a lot to choose from especially since many buyers are looking in more than one town. Give a buyer (or an agent) a reason to eliminate you from the pack and they will never even get to step inside your castle. How does your house get crossed off the list? By making it hard to get in (e.g. no lockbox, difficult scheduling, requiring multiple agents to be present, etc.) or by providing too little information (e.g. 1 photo... are you kidding?) or too much (e.g. I hate 360 degree virtual tours... they make buyers think they've already been there and choose to never go look at it in person).

Case study: I just closed on a sale of a home in Little Silver on a very busy street with a tiny kitchen, limited closet space and other features that would have led many to think it wouldn't sell in this market. It did - with an acceptable contract in under 30 days!

Understanding Middletown

Thomas McCormack (Resources Real Estate) — Mon, 30 Mar 2009 09:41:54 -0500

Q: I recently sold my house in Toms River and am looking in Middletown, NJ, for a 3 Bed, 2 Bath under $420,000 single family home. I drove around this past Sunday to Open Houses and found myself in some not so desirable areas around Route 36. How do I weed out good from bad when searching in Middletown?

Tom, Home Buyer
Toms River, NJ

A: It's not surprising if you feel a bit overwhelmed at understanding Middletown. Monmouth County's Middletown is about 40 square miles and encompasses many smaller neighborhoods, each with their own character. It's a huge area and frequently a challenge for buyers from outside the area. An illustration in point: there are currently 378 homes (wow!) available for sale in Middletown ranging from about $125,000 to almost $17 million!

In getting to know Middletown, you'll learn it has historic neighborhoods like Locust, the Village and Navesink; bayshore towns like Belford & Leonardo with histories that include commercial fishing & summer bungalows; communities that were developed in the 1980's housing boom, and many more. Middletown caters to all ranges of the economic spectrum so there's definitely neighborhoods that are likely to fit your budget.

What's interesting is, like other towns, Middletown has experienced many changes over the past 10 years and housing options have changed considerably; for instance, because of the high speed commuter ferries to Manhattan, we've seen some very upscale new construction in neighborhoods that previously did not offer it.

Some buyers will use school reports to help guide them, others will examine zoning, and still others will consider proximity to major roadways, public transportation, flood maps, shopping or recreational opportunities (in some parts of Middletown you can ride your bike to the beach!)

My advice: seek out a knowledgeable realtor who services Middletown and is familiar with all of it. Get what I call "the nickel tour" that will give you a clear picture of the town, the pros & cons of each neighborhood, and the relative house values of each. I'd also advise being clear with your realtor about what your needs & wants are: don't presume there's one best neighborhood for everyone's needs.

Lastly, I would encourage your consideration of other surrounding towns. All are smaller in size and each has their individual merits.

I hope that helps.... I'm glad to be of assistance.

Thomas McCormack

Top 5 Things Buyers Don't Like About Your House

Thomas McCormack (Resources Real Estate) — Wed, 11 Mar 2009 19:23:49 -0500

Came across this blog and thought it was worth re-posting. Though I've been thru these before, they always bear repeating!

Via Pam Simpson - GRI, Broker-Assoc. (Bob Leigh & Assoc., LLC):

Top 5 Things Buyers Don't Like About Your House
by Pam Simpson
Desoto-Tate County Real Estate

I came across a discussion on city-data forum the other day on what people dislike about looking at homes. The following items were mentioned over and over again.  Here are the Top 5 Things That Buyers Don't Like About Your House:

SMELL...Overwhelmingly, the #1 complaint among prospective buyers were unpleasant odors in the home. The chief offenders were smoke, pet odors, and strange cooking aromas. Some in the discussion said they turned right around and walked out because they found the smells so oppressive. Most of us are unaware of the 'peculiar' odors of our homes because we become immune to the smells - the buyers are not immune to these same odors.

CLEANLINESS...This one just boggles my mind - the #2 complaint that buyers had about the homes they viewed was that the seller simply did not bother to clean. We're not talking about home staging (which will help) or even unrealistic expectations of the home being spotless - just simple old-fashioned cleaning.  Selling your home can be a bit inconvient, but when you have advance notice that a buyer is coming to view your home - clean it up!!! At the very least, remove the pile of dirty dishes from the sink.

SELLER AT HOME...Coming in at #3 is having the owners at home while the buyers are tring to view it. Most buyers felt very uncomfortable with the seller there. Many said they could not take the time to really look at the features of the home because they were in such a hurry to get away from the seller. This is a real problem for FSBOs, as they are usually the ones showing their own home.

CLUTTER...The #4 complaint is related to the cleanliness point - the dreaded clutter. We have all seen it on the home shows, many buyers have a hard time seeing your home because of all the stuff. When I was selling my small (875 sq. ft.) home, I hauled a big truckload of stuff to a storage facility. How in the world do we accumulate so much stuff?

UNFINISHED PROJECTS...Unfinished projects take the #5 spot. If you are planning on selling your home, finish up any on-going home improvement projects before placing it on the market. Homes with half-finished painting, flooring, trim, etc. gave buyers a bad overall impression.

But, none of the above matters if your home is overpriced. Buyers really hated it when the homes were priced above what the market indicates. An obviously overpriced home discourages offers because the buyer believes it is an indication of an unrealistic and unreasonable seller. The more out-of-line your price is with the current market, the longer your home will sit unsold and the more inconvenient the process is for you (the seller).

If your home is priced correctly and you have addressed the other items on this list, it will stand out like a diamond among the many lumps of coal out there.

___________________________________________________________________________________________________
About the author:

Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest Mississippi.
Copywright© 2009 by Pam Simpson. All rights reserved...***Top 5 Things Buyers Don't Like About Your House***

  Disclaimer: All information provided by this author may be based on information collected from several sources and is believed accurate but not guaranteed.

How many Monmouth residents does it take to change a light bulb?

Thomas McCormack (Resources Real Estate) — Mon, 09 Mar 2009 20:15:07 -0500

County to change the world...one light bulb at a time
Energy Star contest kicks off
FREEHOLD - The Monmouth County Board of Chosen Freeholders kicked off a "Change the World" Energy Star Campaign today by inviting residents to reduce energy consumption, save money and help the county win 1,000 free, energy efficient light bulbs.

"County residents can save some money and begin improving the environment today," Freeholder Barbara J. McMorrow said. "By taking an online pledge to replace at least one light bulb with an energy efficient bulb, residents can get a coupon worth 10 percent off Energy Star qualified light bulb purchases and help the county potentially win 1,000 free light bulbs!"

The County has joined the National Association of Counties (NACo) in the "Change the World, Start with ENERGY STAR" campaign that is encouraging all Americans to join with millions of others and take small, individual steps that make a big difference in the fight against global warming.

Find out more, take the pledge and get your coupon by starting with a visit to the new Green Connections section the county's Web site at www.visitmonmouth.com.

When making your light bulb pledge, you will be asked to consider lowering your thermostat this winter or caulking air leaks in your home, because every little bit helps. Only check off the actions you can take to reduce wasting energy. When you submit your pledge, you will receive an automatic e-mail with a 10 percent discount coupon on your purchase of a new fluorescent light bulb.

"Get involved today to start saving money and our environment," McMorrow said. "Energy conservation is something that we can all do. These compact fluorescent light bulbs use 75 percent less energy than standard light bulbs while producing about the same light output. They also last six to 10 times longer. The only significant difference you should notice when you replace a standard bulb with an energy-saving bulb is lower energy bills."

You also will be helping Monmouth County win 1,000 of those light bulbs. Counties across America are competing to see who gets the most pledges. It's easy. Do it today!

To make the pledge, please go to www.greencounties.org/changetheworld.

Did Someone Announce a Clearance Sale and Not Tell Me?

Thomas McCormack (Resources Real Estate) — Fri, 06 Mar 2009 11:04:55 -0600

Believe it or not, there are actually quite a few buyers out in today's real estate marketplace. Unfortunately, most seem to be under the impression that there's a "Clearance Sale" underway based on the numbers they throw around regarding home values.

Granted, our market, like most others, is down from the peak, which in Monmouth County NJ occurred in 2007 for single-family home values (median 2007 $450,000) but thru the end of 2008 we were only down 5.6%. True, the number of homes sold declined signficantly (about 21% from '07 to '08) which would indicate fewer buyers were househunting. This should and did have an impact on prices... the magic question for most buyers and sellers alike is "How much?"

What's most interesting to me is that despite the lower demand, the overall available inventory is about the same if you compare 2007 & 2008 (actually 2008 had slightly lower numbers). You'd expect the opposite: that inventory would shoot up higher if the sales were down. What's happened is many homeowners who may have been tried to sell when the market was hot are now less interested because of the downward pressure on prices and the overall increased time on market for most homes sold. This is a good thing. Better to not have so many sellers who are merely "testing the market". Better to have motivated sellers in the marketplace who really want to sell.

Next question buyers ask is "How much do you really want to sell?" In other words, how much pain are you willing to endure? I would say that many home sellers in our market are fairly reasonable and are willing to negotiate but they're thrown by offers that are sometimes 20-30% off and firm. While I can understand an investor mentality - someone who is purely looking at the transaction as a financial transaction in which either the numbers work or they don't - most of these buyers are not buying to flip, or develop a revenue stream by renting it out... they're looking to live in it.

To me, there's a big difference between wholesale buyers and regular homebuyers. Most home sellers do not need or want to engage wholesale buyers and these buyers play the numbers.... just keep making low offers and eventually someone will bite. The problem with regular buyers taking this approach is they have one, maybe two, maybe three houses that might work for them. And they sometimes get indignant when their offer of 25% off asking price is not accepted immediately.

Fear is playing a large role in all of this, of course, whether it's of "timing the market" incorrectly or simply a general dread due to the uncertainty of the job market and economy overall. While this is understandable, real estate professionals, myself included, have a responsibility to our clients and to our communities to help educate the public about the reality of the situation.

So here goes:

"Reality" in my market as I see it? It's a great time to buy. Why?

Because most home prices have come down significantly from the inflated prices of a year or two ago.
Because many home sellers are still negotiable if it's a reasonable discussion.
Because interest rates are great and the savings realized from a decrease in your mortgage interest is probably going to equal a much greater dollar amount than any price reduction you are working so hard to negotiate.
Because there are other ways to negotiate when buying that will still save you money but not be as difficult to get accepted as a flat out price drop (e.g. seller concessions, mortgage buydowns, etc.)
Because there are programs out there such as the first home buyer $8000 tax credit which save you even more! (And by the way, "first home buyer" means you haven't owned a home during the last three years... attention anyone who may have owned a home previously and moved into a rental.)
And lastly, because your reality has changed in some way to make this a time to move: marriage?divorce? new baby? new job? time to downsize?

Is it the best time to buy? I can only answer that with another question: For whom? Only you can answer that question. The market conditions are such that I can safely say that if you are in a position to buy (i.e. pre-approved for a mortgage, have your home sold or nothing to sell) and you are wanting to move, there is no reason to not take action. No one will ever be able to say it was the perfect time to buy until after the opportunity has already passed.

And besides, if the home you really want has already been sold to someone else when you've been told by someone on TV that it's the "perfect time" you'll be kicking yourself because the advantages present now may not exist, and the house you really loved got away.