Jersey Shore Views...

The Homes for Sale in Little Egg Harbor Will Have to Wait Another Day!

The appointments were set, most of the sellers were cooperative.  A busy day, to the office, an appointment to list some vacant land and an afternoon full of showing homes in Little Egg Harbor!

Early this morning at the Jersey Shore it didn't seem too bad.  When I got up to go to the gym, it was snowing but it wasn't sticking to the roads.  Fast forward 45 minutes, and it was a different story.  The roads were covered and a little slippery.  Now several hours later, it's not looking good!

Snow again at the Jersey Shore!

February 25, 2010

Seven of those homes for sale in Manahawkin that closed in January with waterfront homes, one was a 3 bedroom, 2.5 bath condo and one was a 2 bedroom 1.5 bath adult community detached unit in Fawn Lakes, according to the Jersey Shore Multiple Listing Service.   

If you're interested in homes for sale in Manahawkin and need the advice of an Accredited Buyers Agent (ABR®) give me a call.  Or if you are considering listing a home for sale in Manahawkin, let's talk!

 

Homes for Sale in Little Egg Harbor - Little Egg Harbor, New Jersey January, 2010 Housing Market Report

The average inventory of homes for sale in Little Egg Harbor increased in January, 2010 and the median sale price decreased by $2,000 over December, 2009 figures.  There is good news in the January figures, there are nearly double the homes for sale in Little Egg Harbor that were Under Contract in January, 2010.  In December, 2009 figures from the Jersey Shore Multiple Listing Service showed only 17 homes for sale in Little Egg Harbor as Under Contract.

The breakdown of the homes for sale in Little Egg Harbor that sold in January, 2010 is:

• 2 in Little Egg Harbor Adult Communities  (Mystic Shores & Sea Oaks)
• 1 Little Egg Harbor Waterfront
• 1 Little Egg Harbor Condo
• 5 Little Egg Harbor Single Family Homes 

Summer in Little Egg Harbor, NJ! 

What if Little Egg Harbor Had an Election and No One Came? 

It happens almost every year on the third Saturday in February.  A little known election in being held tomorrow in 79 towns throughout New Jersey.  It the annual fire district elections, electing fire commissioners and levying taxes for equipment, buildings and fire fighter gear.

There are only 79 municipalities in the state with fire districts (out of 566), so there not much attention paid to this oddly timed balloting.  Here in southern Ocean County, Little Egg Harbor is the only community with a fire district election tomorrow, February 20th.

There are three fire districts in Little Egg Harbor, and there is very poor turnout for the balloting even though hundreds of thousands of tax dollars are approved or denied annually on the third Saturday of February.

Just how bad is the turnout?  Well in the NJ Legislative elections last November a total of 4,469 Little Egg Harbor voters cast ballots in the 9th Legislative District.  The most recent election returns I could find for Little Egg Harbor's three fire districts was 2006, when just 131 voters turned out!  That's a combined total for all three fire districts! 

On top of the odd date, the snow birds down south and the coldest month of the year the fire district elections are NOT subject to the same uniform standards and oversight that other govern other elections in New Jersey.

The Boards of Fire Commissioners have total control of the election operation.  And, you guessed it, they have a vested interest in the outcome.

The Commissioners decide how the ballot will be printed and who will staff the polling places.  And unlike other elections in New Jersey, there are no state or county attorneys or judges standing by to mediate disputes.

There have been bills in the state legislature to hold the fire district elections on a day when other elections are held to cut costs, or by leaving budget approval to the local governing board.  Fire district lobbyists have successfully held up these efforts.

Polls are open in Little Egg Harbor tomorrow (Saturday February 20th) from 2pm til 9pm.  You must vote in the district where you live.

West Tuckerton Fire District in Little Egg Harbor (District 1)  Operating budget to be voted on $339,406

+  West Tuckerton Volunteer Fire Company covers Route 9 in West Tuckerton, communities such as Cranberry Creek, Holly Lakes and Mystic Shores, Great Bay Boulevard, Radio Road south to Mathistown Road, and Route 539 to Warren Grove. West Tuckerton splits coverage of Route 539 to Warren Grove with Parkertown Volunteer Fire Company, which covers the opposite side of Route 539.
+  West Tuckerton Fire District 1 has two three-year terms up for election. The candidates include two incumbents, Alfred W. Bailey of Marigold Lane and Lawrence E. Burd of Nugentown Road. Also vying for the two seats are Daniel Curley of Oak Leaf Avenue, Tom Bramhall of Gifford Road and Robert Shaninian of Springate Court.

+  Little Egg Harbor Fire District 1 voting is at the West Tuckerton Fire House at 505 Route 9.

Mystic Island Fire District in Little Egg Harbor (District 2)  Operating budget to be voted on $430,900

+  Mystic Island Volunteer Fire Company covers Mystic Island, Osborn Island, and Radio Road south of Mathistown Road.
+  Mystic Island Fire District has two, three-year seats up for election on the board of fire commissioners. Two candidates are running unopposed.
Incumbent William K. Maguire of Crystalbrook Drive is running for his third term. Michael Caronia of Sherwood Drive, who previously served on the board, is returning to the board and running for his third term.

+  Little Egg Harbor Fire District 2 voting is at the Mystic Islands Fire House at 827 Radio Road.

Parkertown Fire District in Little Egg Harbor (District 3)  Operating Budget to be voted on $285,913

+  Parkertown Volunteer Fire Company covers Parkertown, Route 9 south to Tuckerton and north to Eagleswood, Sea Oaks and shares Route 539 and Warren Grove coverage with West Tuckerton, with West Tuckerton covering one side of Route 539 and Parkertown covering the opposite side.
+  Two incumbents are running unopposed. Both George Garbaravage of Frog Pond Road and John J. Pisano Jr. of Birchwood Drive are running for a third term.

+  Little Egg Habor Fire District 3 voting is at the Parkertown Fire House, 830 Railroad Avenue in the Parkertown section of Little Egg Harbor.

The New Jersey Real Estate Commission (REC) has released its promised memorandum regarding implementation of the new law, enacted by former Governor Corzine, allowing buyers brokers to offer a rebate to buyers.

The REC has not promulgated the rules to implement the law yet, but since it took effect immediately upon signing buyers rebates are legal in New Jersey. Up until January 5, 2010 the Commission prohibited rebates to buyers.

Until the rules are adopted, the REC is urging compliance with the language of the law on who may provide and receive a rebate, conditions concerning the providing of a rebate, limitations on the nature of the rebate that may be paid and requirements on the advertisement of rebates.

Those provisions are summarized below.

Who may provide/receive a rebate and conditions concerning the providing of a rebate.

+Only a real estate broker may provide the rebate. A broker-salesperson or salesperson may not provide a rebate.
 
+A rebate may only be provided to a purchaser of residential real property. A rebate may not be provided to a seller or to a lessor or lessee.
 
+The broker and the purchaser must contract for a rebate at the onset of the brokerage relationship in a written document, an electronic document or a buyer agency agreement.

+The document or agreement must specify the terms of any rebate to be credited or paid by the broker to the purchaser. The broker must provide the document or agreement to the purchaser at the outset of the brokerage relationship.

+The broker must comply with any State or federal requirements regarding the disclosure of the payment of the rebate.

+The broker must recommend to the purchaser that the purchaser contact a tax professional concerning the tax implications of receiving the rebate.

+The broker must disclose the payment of the rebate to all parties involved in the transaction, including any mortgage lender.

The nature of the rebate that may be paid.

+The rebate must be in the form of a credit to the purchaser and reducing the amount of the commission payable to the broker paying the rebate or a check paid by the closing agent made at the time of closing; and calculated after the purchaser negotiates the rebate commission rate with the broker paying the rebate.

+The rebate must not be paid to an unlicensed person for any act that requires licensure;  contingent upon the use of other services or products being offered by a broker or an affiliate of a broker; and based on the use of a lottery, contest or game.

Here is a  full copy of the  memorandum by the New Jersey Real Estate Commission on the Rebate of Real Estate Commissions.

New Jersey is in the midst of it's second major winter storm.  The snow began last night.  This is what it looked like at 8am.

There is a blizzard warning in effect, and it's expected we'll have accumulation of up to 25 inches.  The worst of the storm will hit early this afternoon with increasing winds up to 40 to 50 miles per hour, out of the north-northeast.  That's not good news for long Beach Island, already suffering severe from fall and winter beach erosion.

The National Weather Service has also posted a flood warning for the coastal areas of the Jersey.  High tide this afternoon is expected to bring the most widespread tidal flooding.  High tides today will occur between 1:30pm and 3pm.  The high tide occurs later in the coastal wetlands and lagoons. The wave action during the high tide is the cause of beach erosion. 

There's not much to do now, it's snowing too hard to even think about digging out, so we'll sit back and enjoy the ride!

February 6, 2010 9am Manahawkin Time!

It's back...President Obama has again called for limitations on the Mortgage Interest Tax Deduction.  Lenn Harley has been telling us about this for quite a while.

This IS a big deal, so contact your congressional representatives and share your opinion.  If you don't know how to contact them click here.

Here's the letter I just emailed to my representatives.  Feel free to use it all or in part. 

An Open Letter to Senators Lautenberg and Menendez & Congressman Adler:

As a REALTOR® and an Accredited Buyers Representative® working with home buyers in southern Ocean County, I'd like to call attention to a portion of President Obama's budget message that is cause for concern.

The President's budget proposal includes changes to the Mortgage Interest Tax Deduction.  This proposed change only effects families earning over $250,000, but it could be the first step toward total elimination of one of the primary benefits of home ownership.  

President Obama doesn't target the Mortgage Interest Deduction directly, rather he wants to cap the rate of all itemized deductions for couples or families over that $250,000 ($200,000 for individuals)  earning limit. 

The National Association of REALTORS® (NAR®) claims enactment of this proposal will set off a new round of home price depreciation, creating a new housing crisis.

I'll leave the depreciation arguments to NAR®.  What I do know is my first time home buyer clients cite the Mortgage Interest Deduction as the major reason buying rather than renting makes financial sense.

Don't underestimate the importance of first time home buyers.  The Consumer Confidence Index by the NAR® Research Division in December 2009 indicated 43% of the homes sold were purchased by first time home buyers.

Enactment of President Obama's limit of Mortgage Interest Deductions could have a chilling effect on these first time home buyers and buyers at all economic levels. Consumer doubt and uncertainty is not what our Country's economy needs as we struggle toward recovery.

Please oppose any changes to the Mortgage Interest Deductions.

Sincerely,

Laura Giannotta
Manahawkin, NJ