Monday, December 27, 2010
Tuesday, March 24, 2009
Purchasing Vacant Land 2
Are you considering buying property near tidal water Building a home, a retail center, or marina? Are you proposing a development? Or maybe an addition to an existing structure in a coastal town? If so, here are things to consider
Waterfront Development Permit
The Waterfront Development Law, passed in 1914, seeks to limit problems that new development could cause for existing navigation channels, marinas, moorings, other existing uses, and the environment.
The Waterfront Development Law regulates not only activities in tidal waters, but also the area adjacent to the water, extending from the mean high water line to the first paved public road, railroad or property line. This extends at least 100 feet but no more than 500 feet inland from the tidal water body.
Other reasons you need a Waterfront Development Permit docks, piers, pilings, bulkheads, marinas, bridges, pipelines, cables and dredging.
Coastal Wetland Permit
The land immediately adjacent to tidal water often contains coastal wetlands. The Wetlands Act of 1970 requires the DEP to regulate coastal wetlands. Any time land is located near tidal water there is a good possibility of coastal wetlands on the property.
Some signs of wetlands are tall reeds and grasses, or ground that is often soggy. The regulated coastal wetlands are shown on maps prepared by the DEP. These maps are available for public inspection at each county clerk's office.
You must have a coastal wetlands permit to excavate, dredge, fill or place a structure on any coastal wetland shown on the maps.
There are two types of wetlands (Isolated) when the water within the property is not connected to a larger body of water and (Un-isolated) meaning there is a finger or stream running within the property that is connected to a larger protected body of water.
Isolate wetlands may qualify for a general fill permit. Visit http://www.nj.gov/dep/landuse/
Tidelands License
Tidelands, also known as "riparian lands" are lands now or formerly flowed by the tide of a natural waterway. This includes lands that were previously flowed by the tide but have been filled and are no longer flowed by the tide. These lands are owned by the people of the State of New Jersey. You must first get permission from the State to use these lands, in the form of a tidelands license, lease or grant, and you must pay for this use.
Always remember Take time for due diligence and make sure you have a knowldegable realtor. You can loose a lot of money if your lead in the wrong direction and your not aware of these laws & permits.
Vacant Land Financing
Unimproved land, or raw land, with no plans for improvement is the hardest type of property to secure a loan on because it is in essence a speculative investment. Raw land has no added improvements like sewers, utilities, streets or structures.
A raw land loan will have higher down payment requirements and a higher interest rate than an improved property loan. Some lenders require a 50 percent down payment, but you should be able to find a lender that will only require a 20 or 25% percent down payment. A local lender that is familiar with the property will be more willing to work with you on the loan than a lender unfamiliar with the area.
When purchasing the property, insist on a warranty deed and title insurance to make sure you'll have clear title to the property.
Improved property, zoned for your intended use, will be easier to get a loan for than unimproved property. Buying land with immediate plans for construction is the easiest type of land loan to secure because the lender will be paid off when you get a mortgage on the structure.
Construction Loans
Construction loans are story loans. That means that the lender has to know the story behind the planned construction before they're willing to loan you money. Because it's a story loan, it's not going to be standardized like mortgage loans underwritten to Freddie Mac or Fannie Mae guidelines. There are some common features to a construction loan. Construction loans typically require interest-only payments during construction and become due upon completion. Completion for homeowners means that the house has its certificate of occupancy.
A construction loan finances the land, land improvements (such as clearing, grading, utilities, driveway, etc.), actual construction costs, finishes in the home (such as carpeting, appliances, etc.), architects and engineer's fees, permit fees, interest payments on the construction loan while the home is under construction (so you don't have to make payments on your present home plus the home under construction if you do not wish to) and closing costs on the transaction.
A construction perm loan is a loan performed at the end of the construction phase that refinances the 'construction' loan to a common mortgage. Typically a construction loan is 'interest only' for the build period and most 'construction' lenders require that their 'construction' loan be paid off at home completion. The major drawback to this scenario is that the homeowner has to incur an additional set of closing costs when they are required refinance the construction loan. The good side is that you have the option and time to find a very good final mortgage.
As an alternative, there is what is known as a 'one-time-close' construction loan. This type of loan finances the construction period and has a loan program (30 year fixed, 3/1 ARM, etc...) already in place for when the loan 'converts'. The 'pro' is that you only have to pay closing costs once. The 'con' for these types is that you must lock in the final rate prior to closing. Many lenders offer a 'floatdown' (when rates drop during the construction period, they will reduce your rate), but that often has a fee associated with it.
Owner financing is always a good option to consider if the seller is willing to hold paper. Somtimes the terms may be more favorable to the buyer since interest rate & closing costs can be minimal with this type of loan.
Purchasing Vacant Land
One might think that buying land is a simple process, but in actuality it can be complicated and in many ways is more difficult than buying a home. Despite the challenges, many Developers, small builders and Build your own entrepreneurs decide that vacant land is the right real estate investment for them.
Zoning regulations vary greatly from area to area, so carefully study the local zoning rules that apply to any prospective land purchase
Zoning Limits and restricts buildings and structures to specified districts and regulates to type and extent of their use, trade, industry, residence, open space or other purposes.
Zoning also Regulates the bulk, height, number of stories, orientation, size of buildings, accessory structures and the percentage of lot coverage.
If you do not conform to any one municipal zoning regulation / ordinance you may be required to pursue a Variance.
Variance:
Permission obtained from zoning authorities permitting the construction of a building or structure that is forbidden by present zoning ordinances.
It is not guaranteed, but a township can not cause you undue hardship by denying your application. In NJ if you can acquire any additional property around you to make your lot conform to current zoning laws you must make an effort to purchase that property at fair market value. If you can not purchase additional property the town then must grant your variance in accordance with NJ Land Use Laws. They can however put certain restrictions on the home they allow you to build or a deed restriction a clause that will run with the property forever. An attorney who specializes in Land Use Law will be an important resource when considering undertaking a variance application.
Keep in mind that this law applies to bulk requirements on a single building lot. If your are sub-dividing or asking for a set back variance the town may reject you at their own discretion
Other Things To Consider When Purchasing Land
Utilities
If the land doesn't have hookups for water, sewer, electricity and/or telephone, your engineer and or Builder will check with the municipality regarding plans to extend the road and specifications for accessibility. If sewer utilities are not available, your Engineer will need to order soil tests to see if the land can support a septic system and to determine the depth needed for a proper well
Topography
The grade and slope of the land will determine how much you can build and the costs you will incur. Varying elevations in land requires careful water drainage management.
Raw Land / Road Access
If the land isn't accessible by a public road, there should be a paper street or a deeded right-of-way this gives you the right to access your land. You will either share or be solely responsible for the costs of road improvement.
Wetlands, Pineland & CAFRA are other considerations will be touched on in another article.
Opening files on your computer
Sometimes your not sure of which program to use when your opening a file. The information provided will show you which progams to use when down loading a contract, fax, text file, picture, word document , power point presentation, video, movie or spread sheet. Take note of the file extensions.
After downloading a document make sure you right click and use the OPEN WITH to open your program in the correct format.
| Images (.gif, .jpg, .bmp) - Web Browser or graphics program |
| Documents (.doc, .txt) - Word Processor, Microsoft Word |
| Video (.mov, .avi, .ram, .qt) - Media Player, Quicktime, RealPlayer, etc |
| Web Page (.htm, .html) - Web Browser |
| Presentation (.ppt) - PowerPoint |
| Faxes, Forms, Contracts (.pdf) - Adobe Acrobat Reader, Adobe Acrobat |
| Spreadsheet (.xls, .wbk) - Excel |
Success Quotes
Permanence, perseverance and persistence in spite of all obstacles, discouragements, and impossibilities: It is this, that in all things distinguishes the strong soul from the weak.
We choose our state of mind, just as we choose our behavior and our path in life. So choose to do something great today for yourself and others - be positive!"
The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those which fail."
-- Napoleon Hill, 1883-1970
Even if you're on the right track, you'll get run over if you just sit there."
-- Will Rogers
Point Pleasant Boro
Point Pleasant Borough year round residents enjoy the calm and serenity of traditional, Jersey Shore small town living in the winter months and the eventful fast paced life during the summer months. Point Pleasant Beach combines the architectural charm of past eras with the trendy, fun amenities of today. Its continuing attractions to year round residents can be seen in its thriving downtown business district which boasts fine antique shops; small boutique clothing stores, street side café's and small restaurants. The expansive family boardwalk is one of the nicest in New Jersey, boasting Jenkinson's Aquarium, amusements, rides, games of chance, arcades, and great food.
Point Pleasant Borough was originally settled by people of English decent who were mainly farmers and boat builders. At one time the community was a booming logging center where trees were shipped out of the Beaver Dam Creek. The Point Pleasant Canal was built about three quarters of a century ago. That two mile ditch had been a dream of local planners since the early part of the nineteenth. During WWII the canal was used as a thoroughfare so marine ships could safely pass through the Manasquan Inlet to the Barnegat bay. The Canal & Beaver Dam Creek are now an alluring favorite of homeowners who appreciate boating, fishing and the waterfront throughout the year.
Home to more than 20,000 residents Point Pleasant Borough commuters find the NJ Transit rail line station that runs services to New York and northern Monmouth county towns daily extremly convenient.
The Pont Pleasant Borough school district consists of Ocean Road Elementary, Nellie Bennett
Elementary, Memorial Middle and Point Pleasant Borough High School. The Point Pleasant Public School system consistently ranks among the best in New Jersey
E-Mail tips For Agents
Because of the convenience & speed of e-mail, people use it more frequently to communicate. There is no gesture, no tone, and no volume. There is no facial expressions intent, or emotions in an email. An E-mail is just words on paper from someone they have never met or only met a few times.
It is almost too easy to send e-mail with a negative emotional impact. Once you hit the send button and your e-mail goes charging across the Internet, you can't bring it back.
Sometimes, in the heat of the moment, you might be tempted to say something you would otherwise never say.
Sarcasm is particularly dangerous to attempt to convey in e-mail.
One way to help convey your meaning is through the occasional use of emoticons, also called "smileys." These are sets of plain text characters that are strung together to form little pictures, when read sideways. For example, :-) is obviously a smile and :-( is obviously a frown. Note the emotion by telling them to look at it sideways. Avoid the flashing, animated cartoon type of emoticons as many consider them tacky and they don't always display properly.
There are others but these are the most common don't get crazy people may find it offensive.
Buying a condo or townhome
When purchasing a condo consumers should evaluate the entire seneiro. Most complexes charge a one time association fee and 98% of them charge a montly maintenance fee. Make sure your agent gets you this information befor you buy.
What do your monthly dues include?
- Water, Sewer, Cable
- Ground maintenance / gardeners
- Trash pick-up
- Insurance: How much coverage and what does it cover?
- Professional management fees
- Pool, spa or fitness centers
- Roads and sidewalks
- Assigned parking (and if so, how many spaces?)
- Gate access
How do the fees compare to fees charged by other condos in the area?
Once you make an offer, It is always a good Idea to speak with the association yourself You need to assess How Financially Sound the Homeowners Asoiation is.
Try to get copies of:- Covenants, Conditions and Restrictions
- By-Laws and Regulations
- Meeting Minutes for the last year
- HOA Financial Statement
This requires hours of reading but it will help you get a handle on what's in store for you.
These documents will tell you about:
- Special assessments being planned to address deferred maintenance.
- Capital improvements planned
- Amount of cash reserves
- Whether the association is being or has been sued
- History and likelihood of dues increases
Make every effort to educate yourself so you know what your buying.
New Jersey By The Numbers
MULTI FAMILY IN POINT PLEASANT  GREAT LOCATION, WALK TO TOWN, BEACHES AND SHOPPING. WELL MAINTAINED INSIDE AND OUT. NEW LANDSCAPING, GREAT CURB APPEAL. INSIDE HAS HARDWOOD FLOORS AND FIREPLACE. THIS IS A TRUE BEAUTY. Features Bedrooms: 4 School District: POINT PLEASANT BORO Agent Name: ELLIE MILEWSKI Broker: CROSSROADS REALTY - WALL MLS #: 207081 Photo Gallery               Information Contact Information ELLIE MILEWSKI 732-528-6800 Pricing Asking Price: $479,000 Property Location 806 RUE AVENUE POINT PLEASANT, NJ 08742 Interior Amenities Fireplace Hardwood Floors
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Brielle NJ
Brielle has quite a history which leads back as far as the 1600's Henry Hudson, a Dutch explorer, discovered this area in September of 1609 while sailing his ship the "Half Moon." The local Indians were quite surprised as he landed his ship in what is now Monmouth County.
Over the years Brielle has grown into a fine upscale residential community with many of its residents commuting to careers in New York. With charming vintage homes and large estate sized properties.
The main industry is still tied to the waterfront. The Brielle's marinas host more than 200 commercial and charter fishing boats.
Although there is no ocean frontage in Brielle, residents are only a quick drive or bike ride away from the beautiful beaches of Pt. Pleasant and Manasquan. Recreation lovers will enjoy the abundant fishing opportunities in Brielle, as well as its nationally renowned golf course.
Brielle offers its own elementary school Brielle Elementary servicing student's k-8 and as its neighboring town's students attend Manasquan High School, located just minutes from the town's border. Of course there are private school opportunities for residents and their children as well.
Crossroads Realty Inc
Crossroads Realty is one of the top independently owned and operated real estate firms in New Jersey.
Established more than 40 years ago, Crossroads Realty is a family owned company with 15 offices, selling more homes than any other Realtor in our marketplace. Over the years Crossroads has developed the following divisions to help our customers make informed real estate decisions: a Distinctive Properties Division, an in house mortgage company-Home Capital Network, a Commercial Properties Division and Comprehensive Relocation Services, which along with our state of the art website, allows customers to compare all available listings throughout our markets. Crossroads is also uniquely positioned to service those customers who are thinking of retiring to this area, our Active Adult Community Division sells more adult community homes than all other companies in our marketplace combined.
Established more than 40 years ago, Crossroads Realty is a family owned company with 15 offices, selling more homes than any other Realtor in our marketplace. Over the years Crossroads has developed the following divisions to help our customers make informed real estate decisions: a Distinctive Properties Division, an in house mortgage company-Home Capital Network, a Commercial Properties Division and Comprehensive Relocation Services, which along with our state of the art website, allows customers to compare all available listings throughout our markets. Crossroads is also uniquely positioned to service those customers who are thinking of retiring to this area, our Active Adult Community Division sells more adult community homes than all other companies in our marketplace combined.
Internet Tricks & Tips
With the days of new technology here and software companies developing hundreds of new programs every day. We as real estate professionals must put a plan in motion and stick to it. If you have not read the report issued by the Department of Justice last year you should take some time to do so. Once you read it you will realize that we all must take the necessary steps to ensure our future in the real estate industry.
Bay Head NJ
Bay Head A town of distinct individuality, Bay Head has been called by some "the crown jewel" of the strand of beaches that constitutes Barnegat Beach Island. The timeless beauty of this small country village by the sea is both elegant and casual, creating a mystique that has endured for generations. Since the late 1800's Bay Head has been the favorite vacation place for those who enjoy a certain kind of quiet, a relaxing yet friendly way of life, and a safe haven in which to pursue both land and sea activities.
Over 40 specialty stores and galleries provide a variety of unique goods and services of a type not usually found in average shopping malls. The shops themselves are special, housed as they are in buildings of interesting architecture, some of which are over 100 years old. Antiques, fine art, gifts, clothing and collectibles join with specialties like jewelry, books, plants and sporting equipment to offer the buyer and browser alike a wide variety of interesting shopping choices.
Dining in Bay Head can be a fun experience. The restaurants and food services range from gourmet take-out to award-winning cuisine, all in a generally casual atmosphere. Perhaps the most fun of all is sitting at the outdoor corner cafe and watching the world go by." If you want to own a distinctive bed and breakfast or oceanfront estate Bay Head NJ is the place to look. I want More Info Please e-mail me Bay Head Properties
Monmouth County: Market Comparison 2007 to 2008 Active Pending Sold Expired
| JAN | FEB |
2008 Active For Sale | 1159 | 846 |
2007 Active For Sale | 1353 | 959 |
%Diff Active For Sale | +14.34% | +11.78% |
2008 Pending Sales | 331 | 317 |
2007 Pending Sales | 485 | 463 |
%Diff Pending Sales | +31.75% | +31.53% |
2008 SOLD | 229 | 111 |
2007 SOLD | 358 | 219 |
%Diff SOLD | +36.03% | +49.32% |
2008 Expired | 565 | 241 |
2007 Expired | 508 | 275 |
%Diff Expired | -11.22% | +12.36% |
Monmouth County: Sales By Town January 2008
Sales By Area Report for Monmouth County Towns in January 2008
| Area | # of Sales | Total Sales | Avg Sales |
| ABE ABERDEEN | 9 | $3,118,900 | $346,544 |
| ALH ALLENHURST | 1 | $3,100,000 | $3,100,000 |
| ASB ASBURY PARK | 6 | $1,596,500 | $266,083 |
| ATL ATLANTIC HIGHLANDS | 1 | $360,000 | $360,000 |
| AVO AVON-BY-THE-SEA | 1 | $1,732,500 | $1,732,500 |
| BEL BELMAR | 3 | $1,485,000 | $495,000 |
| BRA BRADLEY BEACH | 2 | $825,000 | $412,500 |
| BRI BRIELLE | 1 | $431,000 | $431,000 |
| COL COLTS NECK | 4 | $7,522,000 | $1,880,500 |
| EAT EATONTOWN | 3 | $800,000 | $266,667 |
| FAI FAIR HAVEN | 3 | $5,165,500 | $1,721,833 |
| FAR FARMINGDALE | 2 | $730,625 | $365,313 |
| FRB FREEHOLD BORO | 3 | $1,242,000 | $414,000 |
| FRE FREEHOLD TWP | 11 | $6,919,400 | $629,036 |
| HAZ HAZLET | 4 | $1,280,800 | $320,200 |
| HIG HIGHLANDS | 1 | $420,000 | $420,000 |
| HOL HOLMDEL | 6 | $5,355,000 | $892,500 |
| HOW HOWELL | 17 | $6,078,900 | $357,582 |
| INT INTERLAKEN | 1 | $555,000 | $555,000 |
| KEA KEANSBURG | 3 | $598,825 | $199,608 |
| KEY KEYPORT | 4 | $902,000 | $225,500 |
| LAK LAKE COMO | 3 | $1,792,500 | $597,500 |
| LIT LITTLE SILVER | 4 | $2,536,800 | $634,200 |
| LON LONG BRANCH | 7 | $3,384,500 | $483,500 |
| MAN MANALAPAN | 14 | $7,242,870 | $517,348 |
| MAQ MANASQUAN | 2 | $940,000 | $470,000 |
| MAR MARLBORO | 13 | $7,150,931 | $550,072 |
| MAT MATAWAN | 2 | $673,000 | $336,500 |
| MID MIDDLETOWN | 26 | $11,624,450 | $447,094 |
| MIL MILLSTONE(MON) | 4 | $2,135,000 | $533,750 |
| MON MONMOUTH BEACH | 1 | $965,000 | $965,000 |
| NEP NEPTUNE CITY | 2 | $763,000 | $381,500 |
| NPT NEPTUNE TWP | 7 | $2,439,600 | $348,514 |
| OCE OCEAN(MON) | 8 | $2,847,000 | $355,875 |
| OCP OCEANPORT | 5 | $2,894,900 | $578,980 |
| RED RED BANK | 6 | $2,435,000 | $405,833 |
| RUM RUMSON | 8 | $13,192,500 | $1,649,063 |
| SEA SEA BRIGHT | 1 | $3,100,000 | $3,100,000 |
| SEG SEA GIRT | 2 | $3,360,000 | $1,680,000 |
| SPH SPRING LK HEIGHTS | 3 | $1,492,500 | $497,500 |
| SPR SPRING LAKE | 2 | $6,130,000 | $3,065,000 |
| TIN TINTON FALLS | 5 | $2,024,700 | $404,940 |
| UNI UNION BEACH | 3 | $690,000 | $230,000 |
| UPF UPPER FREEHOLD | 3 | $1,640,000 | $546,667 |
| WAL WALL | 8 | $4,801,155 | $600,144 |
| WLB WEST LONG BRANCH | 4 | $1,902,500 | $475,625 |
| Total | 229 | $138,376,856 | $604,266 |
Knowing the current market statistics when your thinking of buying or selling a home is one of the most important factors when making a final decision as to where you should place your home in the current market and what price you can expect to get when you receive an offer, Check back regularly for complete details about Monmouth and Ocean Counties.
Little Egg Harbor
20 LOTS FULLY APPROVED  BEAUTIFUL WINDING ROAD 20 LOT (3 ACRE PARCELS) FULLY APPROVED ESTATE SUBDIVISION. GREAT LOCATION RIGHT OFF THE GSP #58 NEAR LITTLE EGG HARBOR SEAPORT AROUND THE CORNER FROM SEA OAKS PUBLIC COUNTRY CLUB & 18 HOLE CHAMPIONSHIP GOLF COURSE . 25 MINUTES FROM ATLANTIC CITY & AC AIRPORT ~ 1 HOUR OUTSIDE OF PHILLY ~ BUYER NEEDS TO POST BOND THEN FILE THE MAP. SEE ADDITIONAL PHOTOS FOR LOCATION & MAPS Photo Gallery      Information Contact Information Dawn Marie White Broker Manager 732-528-6800 Pricing Asking Price: $1,550,000.00 Flexibility: Negotiable Features Acreage: 79.7 Zoning: RESIDENTIAL 3 ACRE Sewerage: No Water: No Subdivision: OASIS School District: LITTLE EGG HARBOR Agent Name: DAWN MARIE WHITE Broker: CROSSROADS REALTY MLS #: 20730575
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Tips And Tricks 2008
Preview here what other real estate professionals in the industry are working with. How they feel about specific tools. They offer small tips and tricks as to what they feel is most important in this new age of technology and real estate. Making the most of the sources that you use is very important. Organize a plan and stick to it. To your success!
Helpful Agent Links
In Today's real estate industry Brokers, office managers, and agents must take the necessary steps to make sure we are taking advantage of what is available to us. Some of it is free some having costs attached. Newspaper circulation is down across the country. Listing agents have to step up and make sure there listings are getting the exposure their clients expect. Managers make adjustments in your intake procedures. Agents hire an assistant just a few hours a week. Do what it take to stand above the rest.
http://www.realestateshows.com/
Manasquan NJ
Like Belmar to the north, Manasquan has been a popular destination for the under- 30 crowd for many years. Some of the best surfing on the Jersey Shore is found here.
Manasquan is a growing year round town offering fine schools, dining, Arts & shopping.
Manasquan Elementary School, Manasquan High School are public schools that service the residents of Manasquan like other surrounding towns in the area there are private schools as well that offer a wide range of education experience to family's who live in Manasquan, Christian Brothers Academy, Choate, Lawrenceville School, Peddie School, Ranney School, Red Bank Catholic High School, and St. Rose High School. Atlantis Prep & St. Dennis
The Manasquan Inlet is one of the more popular places to fish all year-round. In season, fluke and striped bass provide a nice day of fishing and definitely a nice meal.
Manasquan has one mile of sandy beach with Oceanfront homes & a boardwalk that stretches the entire beachfront. Just over the bridge to the west offers a town with lovely old style colonials entwined with newer contemporary styled homes
Recreation in the area offers The Edgar Felix Bicycle Path This Manasquan Bike Trail is something that the whole family can enjoy it passes through areas of Manasquan as well as Allaire State Park.
The borough of Manasquan offers variety to residents of Manasquan as well all residents of the Jersey Shore. Manasquan restaurants can be described as: 'upscale', 'down to earth' and 'Some of the best restaurants at the Jersey Shore The dining experience in Manasquan offers something for everyone's taste from sidewalk café's and sports bars to authentic pizzeria's and award winning eclectic encounters . The Algonquin Arts Theater, a nonprofit corporation, was founded in 1991 and provides cultural enrichment for residents of Monmouth and Ocean Counties. The Shopping Experience has the feel of fine small town shopping with a cobbler, gift shop, pet store, antique shop, galleries, specialty food markets, fine clothing shops and more.
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