Northern NJ Housing Stats
Newsletter

Feburary 2019
 


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The Arlington Beach Club, Long Beach Island


March Holidays  
 

March 1 Bachelor's Day
March 2 National Frozen Food Day
March 5 International Pancake Day
March 10 Daylight Savings Time Begins
March 12 Organize Your Home Office Day
March 13 K9 Veterans Day
March 20 March Equinox
March 29 National Vietnam War Veterans Day

Click To view local Monthly Housing Stats 2011 - 2019
 

Market Absorption Rate 
See each county below. 

Seller's Market

Normal Market

Buyer's Market

2 3 4 5 6 7 8 9 10
An Absorption Rate of  7 or higher is a Buyer's Market
Bergen County
Absorption Rate =  
4.6  
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
1146
566
$526,224
70
Essex County
Absorption Rate =   4.75
 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
685
300
$422,290
62

Passaic County
Absorption Rate =   5.37
 
Normal Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
369
209
$313,819
69
Morris County
Absorption Rate =   6.44
 
Normal Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
678
309
$450,106
67

Sussex County
Absorption Rate =   7.33
 
Low Buyer's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
329
146
$242,704
84
New Jersey
Real Estate

Public State and County Reports

State of New Jersey

New Smoke Alarm Requirements
Please be advised that as January 1, 2019, the state of New Jersey requires that battery powered single station smoke alarms be replaced with a ten year sealed battery powered smoke alarm.

While the State of New Jersey acknowledges that there will be an additional cost of these units, they determined that the increase was warranted to account for safety. These new units are not required to replace AC-Powered smoke alarms or multi station alarms.
https://www.njrealtor.com/government-affairs/state-issues/


Did You Know...

Since a listing agent must do a visual inspection of the property to determine if there are any readily observable physical conditions affecting the property, as well as ask the seller about such conditions and disclose the information to buyers, the agent must disclose a problem with an elevator that caused an accident nine years earlier.  TRUE or FALSE?

     
Hold cursor over picture.


Identity Theft

List of warning signs that your identity may have been stolen.
• Accounts you didn't open and debts on your account that you can't explain
• Fraudulent or inaccurate information on your credit reports
•
Failing to receive bills and other mail
• Receiving credit cards that you didn't apply for
•  Being denied credit or being offered less favorable credit terms, like a high interest rate, for no apparent reason
• Getting calls or letters from debt collectors or businesses about merchandise or services you didn't buy. 

Constantly check your credit.
Eight basic categories of Identity Theft:
New account fraud
Account takeover fraud
Criminal theft
Medical identity theft
Tax related identity theft
Child identity theft
Business or commercial identity theft
Identity cloning


Senior Resources
AARP - Main web site 
AARP - New Jersey Web Site
NJ Department of Health & Senior Services
NJ Senior Services 
NJ Frequently asked questions
NJ Seniors Golf Association - Tournaments
Retirement Living Resources
Long Distance Moving Guide 
Mortgage Refinance Companies


Trivia

The Beatles first appeared on the Ed Sullivan show on February 9, 1964. On what date was their second appearance?

A) February 16, 1964
B) May 24, 1964
C) March 31, 1965


Hold cursor over picture.

 
Mortgage Calculator
 


Seller/Buyer Tips 

Preparing Your Home For Sale

Checklist for Cleaning and Maintaining home (short list)

• Windows, sills, and screens
• Walls and floors
• Tile
• Ceilings and Fans
• Cupboards and draws
• Kitchen
• Bathrooms
• Light Fixtures
• Carpets and rugs
• Mirrors
• Garage
• Attic
• Basement 
• Laundry room
• Yard
• Gutters
• Replace furnace filter
• Dust furniture, TV and computer screens
• Closets
• Remove clutter
• Pack personal items


Buying a mis-matched home

What do you need and want in a home? Sounds simple. Yet, clearly identifying and bringing an objective view to home shopping, leaves you in a better position. Sometimes, home buyers buy a home that is too large or two small. Perhaps they didn't consider the drive to work, the distance to school, or the many repair jobs waiting for completion. Plan ahead. Use your needs list as a guideline for every home you view.

 

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Private Well Testing Act Amended
On Sept 4, 2018 regulations to the Private Well Testing Act (PWTA) were amended through a rule in the NJ Register. The amendments include three new guidelines for all real estate closings. They include new testing for the following in all counties:

1. 1,2,3, Trichloropropane (1,2,3 TCP)
2. Ethylene dibromide (EDB)
3. 1,2,-Dibromo-3-chloropane (DBCP)


The following are updated monthly...  
 
New Jersey School Reports
Seniors Monthly Newsletter

Click To view local Monthly Housing Stats 2011 - 2019

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions.

·  Always personally verify wire instructions.

·  Use only phone numbers that have called before or can otherwise verify are legitimate.

·  Be very suspicious of emails and phone calls with purportedly updated, revised or corrected wiring instructions. It is extremely rare that a lawyer or title agent will change wire instructions during the course of a transaction.

Emil Ratti
Sales Associate
Certified New Home Specialist
Residential Construction Certified
Senior Real Estate Specialist


E-Mail

www.BCNJRE.com
www.NJCondoTownhomes.com


 

REALTOR® -- A Registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS ® and subscribes to its strict Code of Ethics. Inquiries regarding the Code of Ethics should be directed to the board in which a REALTOR® holds membership.

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