Come enjoy a five course dinner with equal wine pairings on March 23, 2011 at Giovanna's Restaurant in Plainfield, New Jersey. The wine tasting dinner will benefit the scholarship program of the Plainfield-North Plainfield Rotary Club. Graduatiing high school seniors from the two high schools are eligible for the scholarships. The 12th Annual Wine Tasting Dinner will honor Police Chief William Parenti with the Service Above Self Award for his support of the club and its activities. The evening will be capped with a silent auction of donated gifts.

Come enjoy a five course wine tasting dinner, honor a local civic volunteer and help fund the education of future college students, while enjoying the talent and enthusiasm of the blind vocalist and trumpeter, Robert Young, founder and CEO of Friends of Jazz. Its a good thing! For more information call 908-822-1441

There is no shell of a brownstone here on James Street. Unlike Harlem in New York, there are no abandoned or boarded up brownstones in this community. Neither will you find brownstones priced in the millions like those south of Harlem and yet, some of the most breathtaking architectural gems can be found just 26 minutes outside of midtown Manhattan.

James Street is the center of James Street Commons, a community found listed on the National Register of Historic Places. Seventeen different streets, covering 20 blocks comprise the commons, which is a mix of residential, commercial and institutional properties. 

Aside from the beautiful brownstones, the neighborhood is home to the Gothic brick St. Patrick's Pro-Cathedral built in 1849, it is Newark's first Roman Catholic Cathedral. Just down the street is the Victorian Ballantine mansion built in 1885, now part of the Newark Museum. Further down the street from the museum is 1903 Italian Renaissance main branch of the 11 branch Newark Public Library system. Across the street from these gems, is the beautiful 3.4 acre Washington Park, replete with statues of George Washington, Christopher Columbus, Abraham Coles and, Seth Boyden. 

The historic treasures have been joined by the new Riverfront Stadium, the New Jersey Performing Arts center and the Prudential Center Arena.  

The neighborhood is also home to Rutgers University's School of Business, the New Jersey Institute of Technology, as well as a host of international dining venues. James Street Commons is less than 30 minutes from midtown Manhattan by way of the New Jersey Transit train line. 

Currently, 68 James Street is available for purchase. For more information and a private tour of this two apartment brownstone with a finished basement, and rear terraces, call 908-531-4979 or 908 821-8599. This is no shell of a brownstone.

Maplewood, New Jersey's Single Family Home Report for December 2010 illustrated how the month of December, was yet another good month for home owners seeking to sell. For the final month of the year, there were only 150 single family properties for sale in the township. 12 of the properties represented new listings during the month, with 138 carried over from the prior month. For the 150 listings, the average list price was $436,129. However, the 12 new listings had an average list price of $430,983, representing a 1% reduction over the total number of listings for the month. This demonstrates tight price points between exiting listings and those coming to the market anew.

For the month even slightly more properties were sold in comparison to those listed. 14 properties, averaging 77 days on the market, went under contract with and average list price of $437,529. Consumers who made offers on Maplewood township properties in December, chose properties that were listed justly slightly 1% above the average list. Clearly, the trend is demonstrates solid pricing for properties in Maplewood, even as we settle into the winter season. 

The 17 sales for the month were greater than the number that went under contract for the month, with an average sales price of $417,288. These properties were on the market for approximately 61 days before receiving an offer and selling at 94% of the list price.

The Maplewood,New Jersey's Single Family Home Report for December 2010, demonstrates solid pricing and good value. That's why the property in the photo listed at $229,900 represents an extraordinary value in Maplewood.

Mortgage servicing fees become an area of concern in the wake of the mortgage meltdown. However, the concern is heighten subsequent to the Robo-Signing Scandal. Now with the spotlight squarely focused on the fee structure, the Federal Housing Finance Agency has given marching orders to Freddie Mac and Fannie Mae to work with the Department of Housing and Urban Development to come up with a proposal for a new fee structure and improved standards.

While there is keen interest in fee restructuring to better serve the current market, people like Shelia Blair of the Federal Deposit Insurance Corporation want standards implemented that would require lenders to keep some skin in the game for those loans that they sell or securitized. Mortgage servicing fees are very lucrative for managing  non-performing assets. Foreclosed properties have a greater revenue stream for mortgage servicers in comparison loans that are paid on time as agreed. In the wake of the meltdown, mortgage servicing fees become an area of concern, that has prompted a full review of regulation in this area. Ms. Blair's proposal would require lenders to continue to hold on to a portion of the liability after selling or securitizing, in the hopes of creating more accountability and better fiscal management.

The defrauding America and the global catastrophe has created much speculation. From all accounts, including Capitol Hill, the culprits were Fannie Mae and Freddie Mac. The "GOP.gov, the official website for Republicans in the House of Representatives, says flatly: "Fannie Mae and Freddie Mac were the main cause of the nation's current financial turmoil."  The names of these two institutions have been bantered about with ease as the the primary cause of the mortgage meltdown.

The verdict was without merit, primarily because there was no evaluation of the facts to render such a decision. Now that the dust has settled,  a proper analysis of the information available has produced factual statements about the role of Fannie Mae, Freddie Mac and others in the defrauding of America.

It would appear that there were three factions to the process, instead of the two often mentioned. The third entity was Wall Street. A very powerful player and one that fostered the derivative market. Michael Hudson of the Daily Beast goes on to demonstrate that "Government data show Fannie and Freddie didn't take the same risks that Wall Street's mortgage-backed securities machine did."For those of us in the real estate industry, you may recall that there wasn't much demand fro Freddie and Fannie products during the boom years. That's because Wall Street lead the way in products and services to meet every potential consumer no matter what their financial circumstances. The federal Financial Crisis Inquiry Commission, is scheduled to release its final report this month. Unfortunately, the report is not the work of independents without a political agenda. Although the data suggests that Wall Street was the prime leader in the defrauding of America, the term "Wall Street" was prohibited from being included the the final report. So much for open and honest government. According to Michael Hudson "When it comes to public policy, though, a sense of context and proportion is important. Tagging Fannie and Freddie as the primary suspects in the mortgage debacle diverts attention from bigger offenders and from policy decisions-such as deregulation in the mortgage market and on Wall Street-that helped create the climate for out-of-control lending."

However, the fact remains as supported by independent sources that Fannie and Freddie were followers, not leaders, in the mortgage frenzy. Michael Hudson proclaims The Monster in all of this was "a gang of predatory lenders and Wall Street bankers, that fleeced America and spawned a global crisis." While Fannie and Freddie share some of the blame, they consistently played second fiddle. The real defrauding of America and the global catastrophe was created and supported aggressively through the efforts of Wall Street.

Originally written four years ago on January 15, 2007, I find the article just as relevant today, given the recent national headlines:

Today we celebrate the birthday of one of America's greatest men, Dr. Martin Luther King Jr., a man light years ahead of his time. His commitment to principle and his personal responsibility to be a catalyst for change, represents the ultimate sacrifice, it speaks to his character. He understood that "injustice anywhere is a threat to justice everywhere" and that "whatever affects one directly, affects all indirectly".

This gifted intellectual, stepped outside of his comfort zone and followed his calling to pick up the gauntlet and lead the multitudes to the proverbial "Promised Land", a place where "the beauty of genuine brotherhood and peace is more precious than diamonds or silver or gold", a place Offering Sanctuary to All in the Storms of Life.

Dr. King's lived experiences taught him that "violence is immoral because it thrives on hatred and not love". Well equipped to travel the journey of change with us, he did so, as long as he could, for as far as he could. It is now our responsibility to continue onward. What will be your sacrifice for a better world? What will be your legacy? How will your character be judged?

Plainfield, New Jersey's single family home report for December 2010 speaks to the Queen City of Union County. Located in the southernmost tip of Union County you will find the city of Plainfield. Steeped in a rich history, Plainfield dates back to 1847. With that rich history comes an eclectic mix of housing stock, which runs the gamut from Queen Anne Victorians to newly constructed center hall colonials. The six square miles have an impressive portfolio of homes. However, the downward turn in the economy has not left the city unscathed.

Last month there were 360 homes on the market for sale, with an average listing price of $223,526. 33 of the homes were just listed in December and they had an average price of $202,172. Only 18 of those 360 homes went under contract in December and their average listing price was $166,922. Even fewer closings took place in December, a paltry 11 with an average sales price of $169,041, after an average of 127 days on the market.

Clearly, there is an over supply of property for sale. Those sellers looking to take advantage of the serious buyers during the winter months, need to act now, come spring there will be even more competition and by all accounts prices will fall even further.

Plainfield, New Jersey's single family home report for December 2010, illustrates the importance of proper pricing. Call today for your free market analysis.

Many Plainfielders will be celebrating the Legacy of Reverend Dr. Martin Luther King Jr., while helping to fight hunger by attending a potluck dinner. This is not your ordinary potluck dinner. The dinner is being hosted this evening by Councilman Adrian Mapp and Mrs. Amelia Mapp. In addtion to bringing a covered dish, guests are asked to bring non-perishable food items that will be given to Plainfield's Starfish feeding program. This event marks the New Democrats 3rd annual Martin Luther king Jr. Potluck and food drive. Come and join the Mapps at 535 West 8th Street at 7 PM. Celebrating the Legacy of Reverend Dr. Martin Luther King Jr., while helping to fight hunger, as a community!

Today at 12:30 Omega Psi Phi's Omicron Chi Chapter Celebrates the Legacy of Reverend Dr. Martin Luther King Junior. This afternoon the Omega Psi Phi's Omicron Chi chapter will host the Omega Talent Hunt as part of its tribute to Reverend Dr. Martin Luther King, Jr. entitled 'The Dream: It's Up To Me'.  The program features the some of the most talented youth in the area. Each participant will have an opportunity to perform a dance, instrumental or spoken word/drama routine. In addition to talent awards, awards will also be given for the annual Essay Contest. Omega Psi Phi's Omicron Chi Chapter Celebrates the Legacy of Reverend Dr. Martin Luther King Junior while celebrating the accomplishments of our youth. Come out and support the legacy of Dr. King and the talented youth of the area at Hubbard Middle School, 661 West 8th Street. The event is FREE and refreshments will be served. For more information call (201) 741-1415.