WHAT IS SELLING IN ATLANTIC COUNTY?

In Atlantic City which is a diverse piece of Atlantic County because you have residents who are renters along with homeowners along with investment properties, three sold since the beginning of the year in a price range of $78,000 to $137,000. Keep in mind these were not bank owned foreclosures, approved short sales or sales subject to third party approvals. These were “regular” sales and only three. That means the remainder of the market is composed of sales from the three previously mentioned categories.

Absecon showed no sales with the above parameters for the same period of the beginning of this year to present.

Brigantine had ten sales from the price range of $125,000 to $499,000 using the above parameters.

Egg Harbor Township had 13 sales from $148,000 to $295,000.

Pleasantville had one sale for $125,000.

Ventnor City had five sales from $255,000 to $349,000.

Egg Harbor City had no sales.

This is just a glimpse and keep in Mind, this DOES NOT Include bank owned foreclosures, etc.

 

 

If you’d like me to send you a link like this monthly, please let me know by responding to this post.

I thought I’d share this picture of an artist’s rendition that I had done to depict what this property could look like when renovated.

Are Renters protected when a home is Foreclosed?

In a lot of cases no. However, President Obama did sign “Protecting Tenants at Foreclosure Act of 2009” because most renters lost their lease upon foreclosure. However, this rule changed that stating that tenant leases would survive foreclosure proceedings. This has to be wonderful for tenants because we have heard far too many horror stories of  tenants having no idea that the home they were renting in was being foreclosed and needed to find a new home. What a horrible dilemma for any family to be in. This will help alleviate that.

However, I do believe a new law maybe coming into affect soon that will require homeowners to tell their tenants that a foreclosure proceeding is in process. I will keep you posted.

Our Military Veterans Deserve Our BEST!

Our Veterans who have pledged their lives to protect our liberties, deserve only the best from agents in the Industry.

Here is a link to a great article about how to help our veterans get that great home

http://www.veteransunited.com/realestate/5-tips-to-get-your-next-va-purchase-offer-accepted/?utm_source=fb&utm_medium=status&utm_content=realestate&utm_campaign=blog

 

If you are a Veteran an  I can assist, please reply to this post.

Are Homeowners who thought they were Safe, going to get Flood Insurance in the wake of Hurricane Sandy

In the aftermath of Hurricane Sandy’s devastation are many homeowners who thought and/or were told that they don’t need flood insurance because they are not in a flood zone get Flood Insurance? And more importantly, will insurance companies have to revamp their policies and re-zone for the sake of their homeowners who hold policies with them.

If you are a current policy holder, call your insurance company and ask questions. Now!

Atlantic County NJ – Borrowers can get the lowest prices but America needs to get Back to Work and Homeowners should consider Paying Off Their Mortgage – Sooner!

Why? Because it will create wealth. You won’t have that dreaded mortgage (which  means death pledge) hanging over your head forever. According to the article for which I provided a link to read, lending for homeownership is at its lowest point since 1997 and buyers are looking at renting instead of owning. Why? Unemployment is very shaky and America needs to get back to work. Getting America back to work should be the priority of President Obama and all of Congress, all of the Senators, and anyone else who has been elected to public office. Without the ability for America to be able to return to work and make well over minimum wage, America will become a nation of renters -again. And for the majority I think it’s safe to say that Americans want to own their own home but we have to do it right.

I believe this time around Americans should pay off their mortgage sooner than later which will allow us to own our homes, create wealth and put other things in motion like earlier retirement, more vacations, and leave more wealth for future generations if they so choose or give it to them now or leave them nothing at all if you listen to Warren Buffet who feels that inheritances are welfare for the rich.

You decide but the way we are going now is counterproductive to American Life. What do you think?

http://www.kentucky.com/2011/08/22/1853213/home-lending-at-its-lowest-point.html