Jul. 23, 2008 - What gives?...This ain't Kansas

Somerset was under a tornado warning today 

I had just walked into the house, after noticing heavy overcast clouds had buit-up.  The TV was on and all of a sudden there was an alert to switch to community cable channel 8.  There, I heard that Somerset and Middlesex Counties were under a tornado warning, due to heavy area thunderstorms.  I knew the many lightening strikes were close to my home because times between flashes of light and thunder were extremely close. Next, a computerized voice came over the TV and provided details of what times the storm would pass specific areas.  There were also instructions for what to do during a tornado warning. (see below)

During a Tornado

If you are under a tornado WARNING, seek shelter immediately!

If you are in:	Then:
A structure (e.g. residence, small building, school, nursing home, hospital, factory, shopping center, high-rise building)	Go to a pre-designated shelter area such as a safe room, basement, storm cellar, or the lowest building level. If there is no basement, go to the center of an interior room on the lowest level (closet, interior hallway) away from corners, windows, doors, and outside walls. Put as many walls as possible between you and the outside. Get under a sturdy table and use your arms to protect your head and neck. Do not open windows.
A vehicle, trailer, or mobile home	Get out immediately and go to the lowest floor of a sturdy, nearby building or a storm shelter. Mobile homes, even if tied down, offer little protection from tornadoes.
The outside with no shelter	Lie flat in a nearby ditch or depression and cover your head with your hands. Be aware of the potential for flooding. Do not get under an overpass or bridge. You are safer in a low, flat location. Never try to outrun a tornado in urban or congested areas in a car or truck. Instead, leave the vehicle immediately for safe shelter. Watch out for flying debris. Flying debris from tornadoes causes most fatalities and injuries.

The warning seemed to have passed without damage or much wind. There wasn't even a heavy downpour of rain, so far. But, this experience got me thinking...what is the difference between a watch and a warning?  Should you open houe windows during a tornado?  The American Red Cross published an article on tornado preparedness. The University of Milwaukee has issued more information and debuncked a few myths.   And no,spend the time getting to a sfe place in your home, rather than attempting to open windows. 

As a kid, I don't ever recall haviing to worry about tornado alerts while growing up in suburban New York.  My, how times have changed!  Almost one year ago, one touched down in Brooklyn.  It doesn't matter if you are in Kansas or not.  Take care of your self, out there.

You can track local weather here

Jul. 20, 2008 - 2007 Homestead Rebates

Filing Dealine is only weeks away

The State of New Jersey Homestead Rebates have been mailed to homeowners.  If you haven’t received your application, you should shortly. The state suggests calling the Homestead Rebate Hotline if you haven’t received this application by July 23.  Call the Homestead Rebate Hotline at 1-888-238-1233 or e-mail for assistance. When sending an e-mail, make sure you provide the name(s) of the owner(s) and the location of the property which was your principal residence on October 1, 2007.

Applications are not being sent to homeowners who were identified by the Division of Taxation as having New Jersey gross income for 2007 that exceeded the income limit of $150,000, as they are not eligible for 2007.

For those under 65 and not disabled, you will receive either 20% of the first $10,000 of property taxes paid (if your income is below $100,000), 10% of your total property taxes paid (if your income is between $100,000 and $150,000), or nothing.

• Tenant: If you were a tenant on October 1, 2007, file a Form TR-1040, tenant homestead rebate application, contained in the 2007 resident income tax return booklet. More information for tenants.

• Homeowner: If you were a homeowner on October 1, 2007, a 2007 homestead rebate application will be mailed to you. Homeowners do not file Form TR-1040, doing so will delay the payment of your homestead rebate. More information for homeowners.

If you were neither a homeowner nor a tenant on October 1, 2007, you are not eligible for a 2007 homestead rebate, even if you owned a home or rented a qualified dwelling for part of the year.

Go to: 2007 Homestead Rebate Program for more information.

Jul. 16, 2008 - Franklin Township "Best Place to Live"

CNN/Money ranks town #5 in the country

Franklin Township's location, availablity of nearby high tech jobs, open spaces, affordable home prices, historical significance and local schools accounts for the #5 spot of 100 Best Places to Live 2008.

It's high ranking comes to no surprise to me.  You can read why I love living right here in Franklin Township in my reply to "Charmqueen's" question posted on Trulia Voices. Read more about Franklin Township here

Yeaaaaa Franklin!

Jul. 14, 2008 - IndyMac, Freddy Mac and Fannie Mae

What does all of this mean?

Despite last week's failure of the IndymacBank, Federal Deposit Insurance Corp (FDIC) Chairman Sheila Bair said on Monday, "the overwhelming majority" of U.S. banks are "safe and sound." What this means to the general public is that savings only up to $100.000 is insured against bank failure per account.  It would be prudent to place any excess into an account with another bank or finanicial institution. There have been hints in the media that more banks might fail over the next three years, due to credit losses and tight capital markets.

Regarding Freddy and Fannie...Fannie Mae is short for Federal National Mortgage Association and Freddie Mac is short for Federal Home Loan Mortgage Corporation. Both are shareholder-owned companies mandated by the US Congress to provide funding to the U.S. housing market.  If they were to collapse, mortgages would be harder to get and much more expensive.  US Treasury Secretary Henry Paulson said the government's primary focus is in supporting Fannie Mae and Freddie Mac in their current form. 

Peter Kedzior , a Chicago REALTOR and fellow Blogger on ActiveRain, helps to put this all into perspective in his posting, Fannie and Freddy Scare.

Jul. 8, 2008 - Carriage Homes at Quailbrook

What’s happening in the marketplace, now - July 8

The Carriage Homes townhome development offers larger rooms, fireplace, single car garage and patio. 

According to the Garden State MLS, currently there are five (5) homes actively listed for sale in this Franklin Township delevopment, at the time of posting.  

There is one (1) new listings; a two story, 3 bedroom-2.5 bath townhome ($304,800).  Listing prices range between $264,900 and $318,000. 

One (1) Carriage Home 2 bedroom 2 bath ranch, 334 Hazlitt, sold for $268,00 since the last report.  Two (2) ranch style homes and two (2) 2-story townhomes remain under contract. 

That's what is happening in the marketplace now, July 8.

If you have specific questions about a Carriage Home proprerty or any local property, email me at: mjadams@century21.com or call (908) 583-0409.

3 Bedroom 2.5 Bath new on the market. Backs to woods on Cul-De-Sac 

334 Hazlitt, a one floor ranch - Sold $268,000

This Glastonbury Ln one floor ranch  is under contract.

This Glastonbury Ln one floor ranch is under contract.

This Glastonbury Ln two story town home is under contract.

Jul. 5, 2008 - June 2008 Residential Sales

Franklin Township Residential Sales

The month ended with 64 Franklin Township single family residences sold between June 1 - 30, 2008. Sale prices ranged between $135,000 and 730,000.

The month ended with 604 active listings on the market, including 118 new listings.

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Jul. 4, 2008 - Town Hall Meeting

Representative Rush Holt coming to Somerset

Franklin Township kicks off a series of 9 townhall meetings in central New Jersey, including two call in sessions with Congressman Rush Holt. This is an excellent opportunity to voice concerns to your local congressional representative.

Monday, July 7 from 7-8:30 p.m. – Franklin Township (Municipal Building Council Chambers, 475 De Mott Lane, Somerset)

Tuesday, July 8 from 7:30-8:30 p.m. - Telephone Town Hall (Dial 1-866-447-5149 and when prompted enter the pin 13864)

The complete schedule of meetings can be found on the congressman's website.  See you there!

Wishing you a Happy and Safe

July 4th Weekend

Jul. 2, 2008 - Giving back to the greater community

Together we can make a difference

One of the reasons that I entered the business of real estate is that I truly enjoy helping others. I’ve spent more than 31 years in another service industry that has taken me to 5 of the seven continents and more than 25 countries. Some of what I’ve experienced has helped me to appreciate more of what, we here in the United States, often take for granted. My travels have exposed me to the needs of others.

I am currently raising funds and awareness for two charities serving the Island of Hispañola, occupied by The Dominican Republic and Haiti.

The first organization is the DREAM Project, providing education to impoverished children residing in remote villages surrounding Puerto Plata and Caberete, Domincan Rebublic.  If you wish to help, my family is in the final two week sprint of the campaign. Make checks payable to the DREAM Project and send to MJ Adams, P.O. Box 5243, Somerset, NJ 08875-5243 before July 16, 2008.  No donation is too small or too big.  The DREAM Project is a US tax deductible charity.  A five year report is available online.  Watch their Video: We Are the Ones We Have Been Waiting for

The second charity is Give them A Hand Foundation along with partners World Care, International Renewal Energy Organization (IREO)  Haitian organization, Gift of Water together with Honorary Chairman, Haiti’s Consul General, Felix Augustin are holding an event to raise funds for the purchase of personal water purification systems for 1,200 households in Juampas, Haiti. The long term goal is to reach up to 10,000 households throughout the Plateau Central in Haiti.

Did you know Did you know...?

• Contaminated water is the leading cause of death among Haiti’s infants and young

children.

• 80% of the deaths in Haiti are caused by waterborne diseases.

A fundraising event is planned for JULY 17, 2008 AT CLUB AZZA, 137 EAST 55^TH STREET from 6:30 – 10:30 PM.  Admission to this event will be $60 which will include refreshments and entertainment by DJ and by Recording Artist, “ MelSoulTree”.

For more information contact:

Gordon Tapper - GTAH

973.333.9291

e-mail: Info@gtah.org

www.gtah.org

•Peggy Clark - World Care

www.worldcare.org

•Robson Mello - IREO

1.516.790.0310

www.ireoigo.org

Jul. 1, 2008 - More uses for vinegar around the house

Cleaning on the cheap

The last time posted about the use of vinegar was in the garden. I recently came across more unexpected (at least to me) household uses for this low cost solution. Using white vinegar….

1. A 50/50 mix of vinegar and water creates a great all purpose cleaner.  It cuts grease and it is less harsh than bleach on fabrics and removes ordors. 
2. Two tablespoons of salt mixed with a half cup of vinegar makes a good metal polish. The same mixture will work to remove hard water stains and calcium deposits.  Just soak a paper towel and let the solution sit for about 5-minutes, then wipe clean. 
3. Unclog your steam iron with a 50/50 solution poured into the iron's water chamber. Turn to steam and leave the iron on for 5 minutes in an upright position. Then, unplug and allow to cool. Any loose particles should come out when you empty the water. 
4. Set your microwave for 3-5 minutes on high with a 50/50 mix in a micro-safe bowl.  Afterwards, wait 3 more minutes and wipe down the interior with a clean set sponge. 
5. Remove that yellow greasy stain from your plastic ware by pouring a cup of vinegar in the bowl, then fill with water.  Let the bowl sit overnight. 
6. To remove decals brush with a couple of coats, full strenght and let the solution soak in. Wash off 

 Want more ideas for the use of vinegar?  Go to: 131 uses for vinegar

Jun. 27, 2008 - Fireworks Tonight

Independendance Day Celebration

4th of July Celebration

Tonight
Friday, June 27
6:00 p.m.

Municipal Complex
475 DeMott Lane, Somerset

Free Kids Zone with inflatable rides

Annual Clothesline Art Show  

Food vendors

Fireworks start at 9:15 p.m.
Bring Lawn Chairs
For information, call 732-873-1991

Rain date: July 11

Jun. 21, 2008 - HUD to reach out to 675,000

Marketing FHA mortgages to the masses 

In a move to market the benefits of FHA mortgage loans to those with good credit and those homeowners who have already faced or are experiencing the first reset of their adjustable rate mortgages, 675,000 letters will hit mailboxes soon. For more information regarding the stimulus package signed earlier this year by President Bush click here.

Below is the text of HUD's letter:

Dear Homeowner,

Do you need help with your mortgage?

Your area is experiencing a disturbing home foreclosure rate that has accelerated in recent months.

News reports cite the damaging effects of “sub prime loans” as a major factor in the unsettled market. By focusing on education and safe mortgage alternatives, though, the Federal Housing Administration (FHA) of the United States Department of Housing and Urban Development (HUD) is working diligently to address this unacceptable foreclosure trend.

Over the past few months, FHA has worked with mortgage loan servicers to identify solutions for the crisis facing current homeowners. Your current mortgage does not have to be FHA insured for you to benefit from our help. If you are facing financial difficulties due to a recent or imminent mortgage reset, or other housing-related difficulty, I urge you to contact us at 1-800-CALL-FHA or to visit www.fha.gov. There you will have the opportunity to learn about foreclosure prevention, legal rights, and credit counseling, among other topics.

Many homeowners may also be able to take advantage of our recently announced FHASecure program. This new program allows eligible homeowners to refinance into a secure, fixed-rate FHA loan even if they are in default.

Additionally, a new partnership between mortgage companies and non-profit housing counselors called HOPE NOW is available to you. Their mission is simple: reach out to homeowners who may be having difficulty paying their mortgages. For more information or to see if your mortgage company is a member of this caring coalition please go to www.hopenow.com.

Again, please contact us at 1-800-CALL-FHA (800-225-5342) or go to www.fha.gov. As part of the federal government, the Federal Housing Administration wants to help you protect and preserve the American dream — your home.

Sincerely,

Brian D. Montgomery
Assistant Secretary for Housing -
Federal Housing Commissioner

Jun. 15, 2008 - Property flipping rule suspended

The White House suspends policy

A Bush administration foreclosure policy, put in place in 2003, deterring the flipping of real estate in less than 90 days is being temporarily suspended. The Bush administration’s revised policy is hoped to speed the housing recovery.

The Federal Housing Administration (FHA) suspension will last for one year; allowing real estate marketed and sold by property disposition firms on behalf of lenders to immediately resell a purchased foreclosed property.

Nationwide, 261,255 homes received at least one foreclosure-related filing in May, up 48 percent from the same month last year and up 7 percent from April, foreclosure listing company RealtyTrac Inc. said Friday.

Read the entire article here.  

Jun. 12, 2008 - That unwanted painting

A little research could reward you with cash

Q: What can be done with original art, the kind we buy at a local art fair, when a person grows tired of it and is ready for something else?

Is there a shop that handles watercolors, oils, etc.? I hate to donate these to thrift shops, as they often go unappreciated.

A: First, find out if the artwork has increased in value, advised Stewart Turnquist, with the Minneapolis Institute of Arts.

“One of the things that can happen over the years is that the artist has gained further recognition and the painting is worth more,” Turnquist said. You can check that using Internet search engines such as Google.

Many artists now have websites, or they might show their work as part of an exhibit. In addition, certain galleries in town represent certain artists. Contact the appropriate gallery and explain that you’d like to sell a piece.

Read more...

Source: Star Tribune (Minneapolis)

Jun. 7, 2008 - May 2008 Residential Sales

Franklin Township Residential Sales

The month ended with 41 Franklin Township single family residences sold between May 1 - 31, 2008. Sale prices ranged between $210,000 and 785,000.

The month ended with 483 active listings on the market, including 103 new listings.

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Jun. 6, 2008 - What matters more?

Location, location, location

Yeah...we've all heard the line before. However, what is a great location for me might not be the best location for you.  Maybe what is important to you is proximity to work, nightlife, places of worship or recreation.  A good location could be one that is surburban or urban.  Location is a very subjective thing.

What truely defines a good location is the ability to attract and appeal to the greatest number of potential buyers resulting in the highest resale price at the time of sale.  A good location, in terms of resale value, offers well maintained properties, a diverse and thriving economy, low crime rates, easy access to transportation and/or highways and close proximity to essential services and shops; to name a few.

Whether or not you have children in school, a good perceived location is one that's associated with quality schools.  Areas in and around Somerset offers choices between urban areas, such as New Brunswick with its variety of restuarants and night life or Franklin Township's varied surburban sections such as Quailbrook, Franklin Park or Wildflower Ridge. 

Jun. 2, 2008 - More mortgage news

Rules change June 6th

Matthew Zimmerman, C-21 Mortgage has shared the following information, affecting significant changes with Fannie Mae and the Mortgage Insurance (PMI) providers that become effective June 6^th, 2008.  

v     Fannie Mae has suspended/eliminated the need for an additional 5% down payment on properties located in areas the determined to be “declining markets”, therefore, conventional financing is now available up to a LTV of 97%. 

Matthew continues to say, "However, for every action, there is an opposite reaction, but in this case not necessarily an equal reaction": 

v     The Mortgage Insurance providers have updated their guidelines and have set a minimum credit score of 660, for any primary home purchase, and 680 for any 2-unit primary, second home or investment property purchase.

For "well qualified" buyers, Matthew says this is a positive.  It allows the buyer to purchase a home again without an 8% to 10% down payment.  For those buyers who have sub 660 credit, there is still an option of utilizing the FHA for their financing needs."

It is strongly suggested that buyers obtain a pre-approval letter based upon these new guidelines.  Matthew is available all this week, and next weekend as well, to offer free no obligation updated pre-approvals for qualified buyers. Need to know more? Call Matthew at 732-267-8527 and tell him Mike Adams sent you.

Jun. 1, 2008 - Mortgage rates on the move...up

Is now the time to lock?

Several days ago I received an email from one of my mortgage contacts with the following messsage, "...over the last 4+ months where 30 year fixed rates were consistently below 6%. With the recent movement today, rates have drifted up to 6.00% (at a slight cost of .25 points) and are sitting at 6.125 (no points) for a 30 year fixed (mortgage).  These same rates were as low as 5.75% to 5.875% for the better part of the last 4 months and as recently as a week ago."

Who knows where rates will go next?  The news media sights inflation fears for reason for last week's rise in rates.  If you find a reasonable deal now, could it be worth risking a deposit to lock it in for a month or two, if you can?  Only you can determine that.  You should know that as a rule of thumb, for each $100,000 you borrow, an additional tenth of a percentage point on your mortgage rate will add about $2,300 to the total amount of interest you will pay over the life of the loan.

Check current rates at: Bankrate.com, Century21Mortgage.com, WellsFargo.com or Zillow Marketplace.com

Let me introduce you to a choice of several mortgage advisors to discuss your borrowing needs without obligation.  Contact me at mjadams@century21.com today.

May. 29, 2008 - Local students advance to world finals

Three Sampson G. Smith teams compete 

For the fourth consecutive year, teams of students from Franklin Township’s Sampson G. Smith School will participate in the Odyssey of the Mind competiton World Finals, which will be held Saturday to Tuesday at the University of Maryland.  Odyssey of the Mind is an international educational program that provides creative, problem-solving opportunities for students from kindergarten through college.

The school had both a fifth-grade and sixth-grade team take first place in the balsa structure problem.  A sixth-grade team had the challenge of building a drivable vehicle using a non-lead battery, spending no more than $145. They used plywood, the handlebar from a broken scooter and wheels from a Tonka car. and ran it with 6-volt Alkaline batteries.

The sixth graders also built a structure that weighed in at under 18 grams, was less than 8 inches high and held 625 pounds. The team is currently holding more weight than any other team in the United States and has received the Ranatra Fusca award for using all recyclable material in their structure.

A schedule of events is available and you may watch the World Finals broadcast online. Learn more about this competition.

Congratulations to the kids of our Sampson G. Smith School.

Source: myCentralJersey.com

May. 27, 2008 - Carriage Homes at Quailbrook

What’s happening in the marketplace, now

The Carriage Homes townhome development offers larger rooms, fireplace, single car garage and patio.  According to the Garden State MLS, currently there are five (5) homes for sale in this Franklin Township delevopment.  Two are 2 bedroom-2 bath one floor ranches.  The others are two story, 3 bedroom-2.5 bath townhomes.  Listing prices range between $265,900 and $314,800.

Within the past 90-days there has been only one sale of a 3 bedroom- 2.5 bath home.  A second 3-bedroom-2.5 bath home went under contract and a third, single floor ranch, is also currently under contract. 

What is important to note is that all of these homes stand out from the average. Each one presents a perceived value compared to similar homes.  Buyers for these three properties were found in 45 days or less!  (See: Home buyers are looking)

This Hazlitt Way house sold for $335,000. 

Upgrades included hardwood floors throughout, custom kitchen cabinets, new appliances, updated HVAC, granite counters, updated master bath and a brick patio.

This Hazlitt Way one floor ranch  is under contract.

It is painted in soft tones and offers a large wooden deck/patio.

This Shilling Drive house is under contract.

It features new windows, fresh paint throughout in neutral colors, upgraded carpets, recessed lighting and backs to woods.

May. 24, 2008 - Memorial Day 2008

We salute you

To the men and women of the U.S. Armed Forces

Thank You

Credit for this moving video goes to The Evergreen Freedom Foundation