Archive for Multi-Family
“Your Home Inspector Should Have Caught That”
Posted by: | CommentsHome inspectors, like most humans, are not perfect. So, sooner or later a home inspector will get a call from a past client that they found something in their newly purchased home that was not noted as a defect in the home inspection report. More often than not, the issue was likely something that was hidden to the inspector by the former owner’s bookcase or carpet, and was revealed when the object was eventually moved, or a problem that developed after the inspection, like a water leak after a heavy rainstorm. In all cases, whether the inspector missed something or the item was undetectable to the inspector, the inspector should be consulted before the repair if possible, to give him/her an opportunity to determine if a real defect exists, if it cosmetic or material, and whether it was hidden or latent. Read More→
Looking Back at 2010 – Have We Reached the Bottom and Are We On Our Way Back Up?
Posted by: | CommentsEvery year I compile real estate statistics for the Downbeach area (Ventnor, Margate, Longport) & Atlantic City, and compare them to the previous year.1 So let’s take a look at the 2010 real estate numbers2 and see if the market was really as bad as most people are complaining it is. I was quite surprised with what I found based on all the negative noise about the market. Read More→
WHAT TO EXPECT, AND NOT EXPECT, FROM A HOME INSPECTION
Posted by: | Comments(Note: This article pertains to home inspections in New Jersey, but is nonetheless applicable to other jurisdictions.)
Home buyers have a lot to think about when shopping for a new home. Questions like, “Is this the best deal?”, or, “Can I afford it?”, or, “Will I be happy owning this home?” are common. Once an agreement of sale is signed, hopefully these questions have been answered, but then there are likely a new set of questions, like “Will my mortgage be approved?” Or, “Is the home I am buying in good condition?” A professional home inspection is intended to be the means by which a home buyer can gain a measure of additional comfort in answering this last question.
While most buyers know that a home inspection is part of the “due diligence” process of a home purchase, many buyers don’t fully understand what a home inspection involves. The assumption may be, incorrectly, that a home inspection will uncover any and all issues that would make a home less-than-perfect. This assumption can provide buyers a false sense of security, and provide unrealistic expectations as to conditions. The intent of this article is to provide some answers, help guide your expectations and educate you in what you should expect from a home inspection. Read More→
Where are all the casino workers going to live?
Posted by: | Commentsby Sherri Lilienfeld, Prudential Fox & Roach Realtors, 609-487-7211 (office), 609-287-1795 (cell), Sherri@NJ-ShoreRealEstate.com
With over $9 billion going into new casinos in the Atlantic City area, there will be a shortage in affordable housing that will be required for the estimated 30,000 to 40,000 additional employees. The city will face major problems in traffic (these employees all need to get to work) and finding places for them to live.
If you are an investor, now would be a great time for you to think about buying properties that would offer suitable housing for casino workers – properties on a public transportation route where workers can rent at “affordable” prices. To discuss your investment options, please e-mail or call me. I’d be happy to assist you in finding a Jersey Shore investment property that fits your needs.
New Jersey Association of Realtors Comments on DEP’s Coastal Zone Rules
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| On January 3, 2007, NJAR submitted comments to the New Jersey Department of Environmental Protection (DEP) concerning the DEP proposal to amend the Coastal Permit Program and Coastal Zone Management rules. The proposal seeks to expand public access to tidal waterways and their shores through private property takings. NJAR’s comments address the legal issues in the proposal and seek to protect the private property rights of landowners in shore areas.
Click here to view the proposal.
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The Current State of The Jersey Shore Market
Posted by: | CommentsBy Laura Fezzuoglio
Courier Times – published September 15, 2007
Despite real estate woes in many areas of the country, some places at the New Jersey shore are now seeing bidding wars again.
The combination of good rates and increased inventory, together with motivated sellers, has prompted some buyers to finally seek their place in the sun.
“When the media started publicizing problems with the mortgage industry, buyers got nervous and there was a temporary slowdown in activity. Buyers are just starting to regain their confidence and have resumed their searches and again are putting in offers on properties,” says Realtor Sherri Lilienfeld of Weichert Realtors SeaGate in Margate. Read More→
How to Earn Money Off Campus as Rest of Market Cools
Posted by: | CommentsThe real estate slowdown has forced some investors to change tactics. Gone are the days when an investor could buy a single-family home or condo, flip it, and walk away with a sizeable profit just weeks or months later without much effort.
But there’s one niche that continues to show promise for investors undaunted by the slumping housing market: college-town real estate. Read More→
How to Keep Your Vacation Home Rented – Even in Off-Peak Times
Posted by: | Commentshttp://www.realestatejournal.com/secondhomes/20060919-maxey.html
There’s a reason why it’s called the off-season. Some vacation-home owners report so little rental interest during off-peak months, they don’t even try to rent out their properties. Others, however, find ways to keep the renters coming during high, low and in-between seasons.
In addition to more competition in the market, rising monthly payments due to adjustable-rate mortgages also are leading owners to try to rent out their second homes more. What follows are some steps vacation-home owners have taken to make the rental season last well beyond the peaks, increasing their income and lightening their mortgage loads. Read More→
The Progress of Residential Development in Atlantic City, NJ
Posted by: | CommentsWritten by Jamie K. Mulholland for Casino Connection Magazine
For the original post of this article go to: http://www.casinoconnectionac.com/articles/Living_the_High_Life
In Atlantic City you have the casinos, the beach, the Boardwalk, and a rich and storied history. There is no city in the world like it. So why weren’t certain areas being improved?
In the last 10 years, Atlantic City has been virtually reinvented, thanks to large-scale revitalization efforts from several segments and on multiple levels. Infrastructure and transportation improvements, beautification projects, large-scale casino and retail development and a full-scale marketing campaign billing a city that is “Always Turned On” have made Atlantic City a force to be reckoned with. And that, apparently, was just the beginning. The next 18 months will see a residential housing influx of such magnitude and magnificence that many are predicting the city will return to, even surpass, the glory days of the early 1900s. Read More→
Home Inspections Make Sense
Posted by: | Commentsby I. G. “Zack” Lilienfeld, PE, CEM
As a long-time homeowner and real estate investor who has been through 18 real estate transactions in the last 20 years, I know that the process of buying – or selling – a home can be loaded with twists and turns. As a young buyer, I dreaded the moment when I found a problem with the home I just bought, requiring me to shell out scarce money to repair something I had not anticipated. As a young home seller, I likewise dreaded the moment when a buyer presented me with a shopping list of defects – real or imagined – that they demanded be fixed… or else! As I gained experience buying and selling homes, I learned that in an imperfect world, knowledge is king. So, I applied my engineering expertise to my enjoyment of detective work, leading me to inspect buildings for a living. Read More→
