Robert Rose: Central NJ Real Estate Expert: www.bridgewaternjhomes.com: 2011

Sunday, June 12, 2011

My Client Testimonials by Robert Rose Jr, Sr Sales Executive and Central NJ Real Estate Expert.

Robert Rose Jr, Sr Sales Executive and Central NJ Real Estate Expert.

Licensed since 1993, Bob has eighteen highly successful years of experience as a Central NJ Realtor. He is consistently ranked in the top 5% of Realtors nationwide. A native of New Jersey, Bob is originally from Warren Twp located in the Somerset County region of NJ. Graduating from Champlain College in Burlington VT in 1991 with a Bachelor of Arts degree in Business Management, Bob went on to work in the family business of Real Estate in 1993 and has been a top producer with both Prudential ever since.

Bridgewater is where Bob calls home for the last five years. In addition to Bob's commitment to his clients, he is extremely committed to the community. Whether it is through the individual agent's contributions or all of the performing arts, many charities and our wonderful town. Bob will bequick to tell you that Central NJ has been good to him. He feels he, in turn, should be good to Central NJ. Visit Bob @www.bridgewaternjhomes.com

Bob is dedicated and knowledgeable in real estate in Somerset, Morris, Hunterdon, Union and Middlesex Counties. He can provide you with the highly specialized information that will help you make the right real estate decisions. It's the combination of this unique market-knowledge and excellent negotiating skills that enable me to get you the optimal price for any central New Jersey home or real estate property you plan to sell or buy.

Here are just some of the items which I focus on:

1. Unwavering focus on obtaining your dream.

2. Unparalleled attention to every detail.

3. Absolute commitment to exemplary service.

4. Innovative Real Estate Marketing solutions to get your home SOLD!

5. Competitive Negotiator who gets the best price for his clients.

Community Involvement

CONTACT BOB TO LIST YOUR NJ HOME TODAY! 908-295-1807

In addition to Bob's commitment to his clients, he is extremely committed to the community. Whether it is through the individual agent's contributions or all of the performing arts, many charities throughout his wonderful town. Bob will be quick to tell you that Central NJ has been good to him. He feels he, in turn, should be good to Somerset County and Central NJ.

As a real estate expert in the Bridgewater and the surrounding area, I can provide you with helpful insights about the area, and can show you why Bridgewater living is truly something to be desired.

With a professional yet friendly approach, I help clients feel comfortable about what can be a stressful decision.

Trust is hard to come by in today's fiercely competitive real estate market. I am here to provide you with the professionalism and integrity needed to ensure that you feel secure in what can be one of the biggest decisions of your life.

Testimonials from Bob's Clients

Below are a collection of testimonials from my clients, who I have assisted with a variety of real estate transactions in New Jersey, including buying or selling homes in the central New Jersey area. When you are in the market to purchase or sell a home in New Jersey, you should be sure to choose a real estate agent that will exceed your highest expectations.

What my clients are saying...

What can I say Bob. We were told that your services were first class and they were right. I know the high-end market is difficult but with your marketing and professional website you got us the number needed to move forward. Thanks for referring us to the Florida broker at Remax as well. It was a first class transaction. Thanks again!

Yours truly,

Frank Santos

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Bob assisted us in our first purchase this year. He was a joy to work with and very patient with us. He found us the perfect home and worked a great deal for us. I just referred him my sister. Thanks You Bob!

-Dina Mansetti.

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Thanks Bob for selling our home in Warren NJ. We were very anxious and apprehensive about selling after living in our home for over 30 years. I must say you made it very easy on us and got us top dollar in a difficult market. You also found us the perfect town home in Martinsville. Thank you and make sure we get some golf in soon Bob.

Always,

-Frank and Marcia.

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Hi Bob, Just want to send a note over to thank you for the professional job you did. We love our new home and can't thank you enough for explaining the Central Jersey area to us. We love Bridgewater! Thanks for your hard work after the closing as well. You did not have to spend that much time with us. See you at our first little league game in the spring.

Sincerely,

-Howard and Dee Clark.

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Dear Bob, We had so much fun looking for our home with you. Thank you for your countless hours and great lunches (Ha) we appreciate all your skills, effort and time in our first real estate transaction.

Speak with you soon,

Sincerely,

Alan Bhrody.

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Hi Bob, we did it!! 45 homes and you found us the right one. Your patience and professionalism was unparalleled. We knew we found the right Realtor after the first day with you. We will follow you on your site and keep you in thought for a referrals.

All the best,

Tom & Linda.

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Good Morning Robert, Gwen and I want to personally thank you for a great job. Our home was on the market for many many months with another local broker until it expired and you called. After only 30 days you delivered! We got the price we needed to move forward with our lot in NC and an early retirement to boot...

Thanks again for you work.Tom & Gwen.

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Robert, thanks you for assisting us in the purchase of our home in Berkeley Heights. We enjoyed working with you and hope to find a condo for our son with your help next spring! Thomas & Gwen. Hi Bob, great job on our house sale. Your professionalism and effort was appreciated as well as your generous commission split to help us find our dream home. This will not be forgotten. Looking forward to introducing you to some of the guys down at my club. See you in the spring Bob.

Robert Decendio

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Hi Bob, hope all is well. We just wanted to drop a note over to you to thank you for a job well done on the recent sale of our home in Basking Ridge. We were very happy with your service and follow-up. We hope you have a nice 2011 and we will see you soon.

Our Best.

Patricia & Dan

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Well done Bob! We were so happy with your professional service and solid approach. The sale of our home went smoothly and you did get us a great price on our condo. We already passed your name over to our aunt in Watchung. We know you will take great care of her.

Thanks Again,

Selena and Greg.

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Dear Bob, after our mother passed last year we were very upset and torn. We were so glad that your kind approach and hard work helped our family in difficult times. Thank you bob.

Darren and Melissa Farmel

Bob's Professional Background

ROBERT ROSE IS AN EXPERT WITH LISTING AND SELLING LOCAL NJ REAL ESTATE.

Here, you can be assured that the best quality of service and attention is provided whether you are deciding to buy your dream home or you are planning on selling. Robert Rose Jr., a multi-million dollar producing agent, specializes in residential Somerset, Huntedon, Union, Middlesex and Morris county area real estate and has a reputation for Top yielding results.

Expert experienced sales presenter and negotiator.
Results driven profesional with focus on execution and top customer service.
Real Estate member in good standing: NJ Association of Realtors.
E Certified Professional
National Association of Realtors Somerset/Hunterdon County Member.
Prudential Presidents Club Member.
Prudential Leading Edge Society Member.
Prudential Honor Society.

Education

Champlain College 1991 Business Management.

NJ School Of Business 1993. Milburn NJ.

Watchung Hills High School NJ 1987.

Specialties

Areas of Expertise

Somerset, Hunterdon,Union, Morris and Middlesex Counties; Residential Resales; Corporate Relocation; New Homes; Fine Homes.

Communities I Serve

Watchung, Warren, Bridgewater, Martinsville,Long Hill, Gilette, Millington,Bedminster, Green Brook,Dunellen,Middlesex,South Plainfield, Scotch Plains,Fanwood,Westfield,Cranford, Basking Ridge, Bernardsville, Mendham, Chester, Clinton, Branchburg, Readington and North Plainfield.

Designations

Professional Interests

Robert works with all faucets of customers from first time home sellers and buyers to mulit million dollar sub-divisions and large commerical projects. Robert is a top notch customer service sales associate with magnificent negotiating skills. Please contact him anytime 908-295-1807

Monday, May 9, 2011

Selling your NJ home is a buyers market?! Contact Real Estate Expert Robert Rose JR. 908-295-1807 or visit Bob @ www.bridgewaternjhomes.com for a detailed plan of action!.

Peter and Lauren Meyer of Montclair, N.J., had to make dramatic price cuts to nab a buyer.

(MONEY Magazine) -- If you're in the market to sell your home, you probably feel you can't catch a break. Nearly five years into the housing bust, when many experts thought the real estate market would at least have stabilized, sales and prices are still dropping in most of the country.

In February existing-home sales tumbled 9.6% from the previous month, and the median price of a single-family home dropped to $157,000 from $163,900 the previous year, according to the National Association of Realtors. (Latest home prices)

You can't count on things turning around soon, either. At the current sales pace, it would take 8.6 months to clear out the 3.5 million existing homes listed today.

With the boost from the recent homebuyer tax credit gone, anyone who decides or is forced to put a house up for sale enters a market where houses often linger a full six months -- even a year -- without any bites.

Put part of the blame on stiff competition: Foreclosures and short sales, which accounted for 39% of sales in February, sell for about 15% less than conventional homes.

"It's dreadful out there for sellers," says Patrick Newport, a U.S. economist at forecasting firm IHS Global Insight.

Fortunately, there is one glimmer of good news. Bargain hunters, too, know that home prices are down some 32% from their peak. In a recent CNNMoney survey, three-quarters said that it was a good time to buy a home. But translating that interest into an actual sale can require some extreme measures.

It's not enough to show buyers your house is a deal: You have to convince them it's a total steal. That means slashing your price, bringing in a pro to pretty it up, and creating a killer website for your home. Here's how to do it right.

Slash Your Price, Bigtime

Sellers are still loath to accept the extent of the toll the bust took on their homes' value, says Tara-Nicholle Nelson, consumer educator for the housing website Trulia.com.

Many also give in to the temptation to list the property above fair market value to see what happens. Big mistake. About a quarter of sellers in the past year initially listed too high and were forced to knock the price lower, according to Trulia.com. Even in cities that have held up well, such as Charlotte, 25% of sellers resort to at least one price cut, and often two.

6 cities slashing prices

Think you can always drop the price if your home doesn't sell? Bigger mistake.

"The first 30 days on the market are the most important," says Norwalk, Conn., realtor Elizabeth Kamar. That's when your place attracts the most attention and gets the most showings. The result: You often end up with less than you would have if you priced it right to begin with, says Kamar. So get aggressive right out of the gate.

Undercut your competition. In normal times listings of similar properties in your area would give you a good sense of what your home might sell for. Today there's a big gap between what sellers want and what buyers are willing to pay.

Instead, figure out what you can realistically expect to get by asking your realtor to show you what houses similar to yours have sold for in the past three to six months. If more than a couple of the comparable properties were foreclosures or short sales, look closely at the photos and descriptions of those former listings. Distressed homes should be included in your comps if they are in move-in condition, says Las Vegas realtor Paul Bell.

Once you have a handle on your likely sale price, list your home a bit beneath that, says Rockaway, N.J., agent Ellen Klein. You don't have to undercut by much to attract attention, because that price will probably still be about 10% or 15% below what other homes are listed for. Even if you're competing with lots of foreclosures and short sales, your price should generate enough interest to attract more than one bidder, pushing up the final price to where it should be.

When Dorchester, Mass., realtor Julie Simmons wanted to sell her own home in January, she listed it at $460,000, about $5,000 to $10,000 below what she thought she'd sell for.

"I knew I had to attract attention," she says. Even in a harsh winter, she received four offers in less than two weeks -- and sold for $465,000.

Take out the ax. No bites within 30 days? Make a big move.

"When a property sits, people start thinking it must be listed too high," says Klein. To stimulate interest, make a giant cut -- as much as 10% of the asking price, and even more in an area where prices are still falling. That should be enough to warrant a second look from buyers who passed the first time, and to bring in a new pool of potentials who are hunting in the lower price range.

Last year Montclair, N.J., empty nesters Peter and Lauren Meyer decided to downsize from their seven-bedroom home to an apartment in the same town. They put their home on the market for $1.1 million, more than their realtor suggested. Six months and four price cuts later they pulled it off the market at $889,000.

"At that point we wrestled with lowering the price further, but we were ready to move on," says Peter. The couple relisted their home for $799,000 and it sold for $808,000.

Play hardball. It's okay to reject low-ball offers if a buyer won't budge. But if a buyer is willing to negotiate, push aside feelings of anger or insult and start counteroffering, says Mabel Guzman, president of the Chicago Association of Realtors.

Ideally you'll be able to negotiate within $10,000 to $20,000 of an acceptable offer. Then, "using incentives as carrots and sticks can make it easier to reach an agreement," says Guzman. For example, if your buyer refuses to dicker, you might offer to leave behind the appliances. Or maybe you'd rather take the reduced price but have the buyer agree that you take 60 days, not 30, to move out.

Hire a Stager

There are people who want to sell, and there are people who have to sell. Kathy and Rex Roberts are among the latter. Based in West Hartford, Conn., the couple, who have two children, have been living in different cities since early December, when Rex, an IT auditor, started a new job in Silver Spring, Md., after a layoff.

Before and after: Manhattan loft makeover

Listed that same month, their solidly built three-bedroom 1956 colonial has had no offers, despite two price cuts (it's currently at $389,500). Between rent on Rex's new place and their carrying costs on the house, they're paying a budget-straining $4,000 a month. "We need to sell," says Rex, "but we're not willing to drop the price again."

So in March they tried something new: professional home staging. Staging, increasingly popular with homeowners trying to sell mid-range houses, can extend from simply rearranging existing furniture to repainting, replacing fixtures, and bringing in new furnishings. The goal: to highlight the house's best features while making it as easy as possible for buyers to imagine themselves living there. Veteran real estate brokers interviewed by MONEY say that proper staging can speed the sale and often increase the price too. The key is to get it done right.

Start with an open mind. Staging demands a psychological shift that many homeowners find challenging: thinking of your house not as your home but as a set. That means scrubbing away evidence that you actually live there. Your goal: the homey yet impersonal look of a Pottery Barn catalogue.

Find the right stager. The ASP (accredited staging professional) designation is a plus -- it indicates the stager has gone through some basic training -- but it isn't essential. Get names from realtors or at realestatestagingassociation.com, then review the stager's online portfolio of before-and-after photos. Next, call homeowner references and ask how fast their homes sold after staging and whether they think the work helped.

Establish a budget and ask the stager to work within it. Stagers typically charge $150 to $400 to walk through your home and give recommendations for each room. You can then execute the plan yourself or hire the stager to do it for an hourly fee, usually $100 or so, plus the cost of any new paint or furnishings.

If you make big changes, costs can add up -- but "I can often make a huge difference using what homeowners already have," says Mary D. Brooks, a stager and realtor from Breckenridge, Colo.

See whether your realtor will pay. If you're on the hook for a full 6% commission, you have significant negotiating power. "I'm happy to pay for staging because I know it works," says realtor Paul Aspelin of Victoria, Minn.

As for the Robertses, after getting advice from stager Kara Woods, owner of Stage to Move in Danbury, Conn., they painted their lavender dining room a soft gray and removed excess furniture, among other things; a professional stylist redid the living room (see above). "It's incredible how much bigger and more modern it looks," says Kathy.

Find the Right Hook

These days it's going to take far more than a FOR SALE sign in the front yard and a spot on the multiple-listing service to get potential buyers in the door. That means getting the word out in a creative fashion -- and finding a realtor who is willing to do the same.

"The more eyeballs that get on the listing, the better," says Katie Curnutte of the real estate information website Zillow.com. To do that, you need a multipronged marketing plan of attack.

Create a great site. About 90% of buyers begin their search on the Internet, according to the National Association of Realtors. Make sure your home's online presence has a dozen or two photos: Having 20 instead of five photos will almost double the number of hits you'll get, according to Zillow.com. See the sidebar at right for more ways to keep potential buyers clicking on your site.

Vulture investors flipping their way to real estate profits

Throw money at them. Incentives can perk buyers' interest just as much as price cuts, says Matt Brown, director of business development at ForSaleByOwner.com. In fact, many buyers will agree to a higher price if their upfront costs are lowered, since they often run short on cash.

If you can afford it, offer to cover the buyer's closing costs or pay the first year's property taxes or condo or homeowner association dues. However, those freebies may be practically standard, particularly in areas rife with distressed properties.

In that case, says realtor Guzman, you might be able to bring buyers to the door by tossing in an unusual bonus, such as a $1,000 gift card (throw in one for the buyer's agent as well); a belonging they mentioned loving, such as the pool table or plasma TV; or a $5,000 credit to use in the home as they wish. (You can even pay upfront points so that they can get a lower mortgage rate, if you can swing it.)

Be aware, though, that you must disclose any such gifts or payments when the offer is agreed on, and some lenders will not approve them. If so, you might have to find another incentive that the bank doesn't object to.

Showcase super condition. Yes, some buyers are hunting for foreclosures in rough shape that they can nab for a song. Yet just as many shoppers don't want -- or don't know how -- to put in that sweat equity. So hire an inspector to identify every problem with the home, even seemingly minor issues such as dripping faucets, and fix them.

"If an outlet doesn't work, why get the buyer wondering what else is broken?" asks Beth Foley, an associate broker in Holland, Mich. Tell your realtor to give anyone who tours your home a copy of the inspection report and your list of fixes.

Spread the word online. Having your home listed on a major website like Realtor.com isn't enough. Ask your realtor if you'll get an "enhanced" listing on the site, where your home gets top promotional billing. Many realtors will create a website just for your home. You also want to get your listing on alternative sites like Craigslist or even Facebook.

In 2009, when Karen Mauro put her small, historic two-bedroom Orange County, Calif., home on the market she thought it would be a tough sale. Realtor Lisa Blanc listed the property at $467,500 and spread the word not only through the MLS listing but also with an update on her Facebook page. A Facebook friend of Blanc's passed the info to someone she knew was looking for that kind of house. Within a week, Mauro had an offer for $460,000.

Stay away -- far away. In better times you may not feel obliged to drop everything to accommodate prospective buyers' schedules. Today, if buyers can't get in on their time, they'll skip it, says Summer Greene, who manages realtors in the Fort Lauderdale area. So be prepared to show a perfectly clean home at a moment's notice. And disappear (along with your dog, if possible) for all showings and open houses so that prospects can imagine themselves in your house -- an impossible task when your family is vegging on the couch.

Monday, April 25, 2011

Home Sellers - Smart Fix Ups to Sell For Top Dollar Contact Nj Real Estate expert Bob Rose JR for a free Market Analysis on your Nj Home today! 908-295-1807

Your home is not in great shape, 30 years old and it looks every day of it. There are some things you must do just to get rid of it, why not do a little more and make some money on the deal? 7 fix ups to help you sell fast and get top dollar.

1) Curb Appeal - Dress up the landscape add mulch at all planting areas shape into curved borders, use to cover around all trees spread wide and cover bare areas. The mulch will help define the landscape, add flowers and shrubs, cut and edge lawn. Keep trim and turn mulch for fresh appearance.

2) Exterior Problems - Roof is way past its life span (the buyers home inspector or Bank appraiser will require it to be replaced, so why not do it before at a cost you can negotiate) replace roof use Architectural grade shingles costs more in material but the labor is the same. Replace any damaged or rotted wood including decks and porches. Repaint exterior siding, trim, windows and shutters.

3) Doors and Windows - Make sure every one is operating properly it is well worth the cost to have a contractor come in and make everything work. New window balances, locks, replace broken and fogged glass, adjust all doors, thresholds, and locksets. Patio sliders always are misaligned replace rollers for better operation, install new screen.

4) Appliances and Mechanical Systems - If your appliances are more than 10 years old replace them they don't work efficiently and are way out of style. No need to buy high end but they must be high style. Match all kitchen appliances pick a contemporary look. No doubt the mechanical systems are big ticket items a 30 year old a/c unit must go, air handler unit compare cost of refurbish versus replacement. Water heater should have been replaced 10 years earlier if not replace.

5) Kitchens and Baths - Your counter tops are beat up replace or refinish. Wood cabinets can be repainted or refinished, change out hardware new door handles and drawer pulls. Replace faucets with new contemporary look. Check light fixtures there are great low cost designer fixtures at the big box stores.

6) Flooring - Ceramic tile if in good condition consider cleaning and staining the grout for a new fresh look. Replace carpet and padding use good quality not high end. Vinyl flooring if not newer replace. Hardwood floors scratched dull no shine refinish.

7) Walls and Ceilings - Repaint every room paint walls and trim in complementary neutral 2-color. Paint ceilings white. Paint all doors both sides same as trim. Make house as fresh and new as possible.

Every item on this list will affect your listing agent their market analysis and suggested list price of your home. They each will affect the buyer and the buyer's agent in what the offer price will be. Even if they over look some items when the home inspector comes in they will nail every one of these repairs with an estimated cost of two to three times the actual cost you can negotiate. This home in 30 year old condition will sell at 20% below the market with these fix ups as a top condition home with warranties you can get 10% to 15% above the market. A 35% difference and a great part of that stays in your pocket.

Bob Rose JR is a Nj lic Realtor with 18 years of top Real Estate experience and knowledge. Please visit Bob's top rated NJ Real Estate site for all NJ Real Estate and beyond information. www.bridgewaternjhomes.com or call Bob direct @ 908-295-1807.

First Time Home Buying Ideas. Contact Bob Rose for all your NJ Real Estate Needs! 908-295-1807 or visit Bob @ www.bridgewaternjhomes.com

First Time Home Buying Ideas Contact Bob Rose for all your NJ Real Estate needs! 908-295-1807 or bridgewaternjhomes.com (edit/delete)

The state agency created by the legislature in New Jersey to offer first time home buyer programs is the New Jersey Housing and Mortgage Finance Agency. Here is a summary of the current first time home buyer programs that are offered:

First Time and Urban Target Area

A below-market, fixed interest rate is offered to first-time home buyers and urban area buyers. Down payments of as little as three percent are required and must come from the borrower's own assets. Loans are 30-year fixed rate. Certain closing costs can be gifted by family members, non-profit organizations or government agencies. Debt to income ratios are as high as 33 percent (housing debt, i.e., mortgage, taxes, insurance) and up to 38 percent (total monthly debt load). Please see the latest income and purchase price limits. Further detail is available by calling 1-800-NJ-HOUSE.

Smart Start

Accumulating the funds for down payment and closing costs is a common barrier to potential homeowners. The Smart Start Program helps families purchasing homes in Smart Growth areas by offering a second mortgage for down payment and/or closing costs. Borrowers earning less than 80% of HMFA's Home Buyer county income limits are eligible to receive 4% of the first mortgage amount. For more details, contact HMFA at 1-800-NJ-HOUSE.

Police and Fire Mortgage

Active members of the New Jersey Police and Firemen's Retirement System (PFRS) with one year of creditable service are eligible for this program. Members may buy a home (first-time or trade-up) or refinance an existing home. Maximum mortgage amount is $ 359,650. Interest rate is 30 year fixed. Program rates are set semi-annually in February and August. Further detail is available by calling 1-800-NJ-HOUSE.

Home Plus

A fixed interest rate home mortgage to qualified first-time and urban area home buyers with immediate home improvement needs. Homeowners are allowed to finance up to $15,000 toward home repairs and improvements as part of the first mortgage. Improvements allowed include replacing a roof, painting, installing improved heating or air conditioning systems, renovating a kitchen or bath, renovating plumbing or electrical systems and enlarging rooms. Energy conservation and solar energy improvements are also eligible. Handicap accessibility improvements are also eligible repairs. Please see the latest income and purchase price limits. Further detail is available by calling 1-800-NJ-HOUSE.

HOPE Program

HOPE is an employer guaranteed loan program that offers no down payment, below-market, fixed rate mortgages to eligible employees without private mortgage insurance. Employers must be approved by the HMFA. The program adheres to the same mortgage program requirements as the Home Buyer Program. Any size company can participate. The employer can establish qualifications in addition to HMFA program restrictions. Please see the latest income and purchase price limits. Further detail is available by calling 1-800-NJ-HOUSE.

100% Financing

Provides no down payment, no mortgage insurance, mortgage loans at pre-approved new or rehabilitated single-family housing developments and for certain newly constructed units. Down payment and closing cost assistance may be available under this program. First-time and urban area buyers are eligible for 30-year fixed rate financing at the HMFA's prevailing interest rate. The program is subject to funding and housing availability.

For complete details on these first time home buyer programs available to New Jersey residents, visit the New Jersey Housing and Mortgage Finance Agency website.
It is highly recommend that you also visit the First Time Home Buyer Grants page for free assistance with the down payment.

Best Lender For First Time Home Buyer Loans

Unfortunately, some lenders do not like to work with first time home buyers (due to not having a track record), and prefer instead to only provide mortgages to people who have previously owned a home. If you do not need help with the down payment and are not in need of any state program, search for a lender that has great rates, an easy online application, and welcome first time home buyers. Additionally find one that has not been as severely hurt by the subprime mortgage crisis and are still approving the majority of applications.

Women become a force in home buying Contact Bob Rose JR Your NJ Real Estate Specialist. Bridgewaternjhomes.com

Women become a force in home buying

The antiquated notion that a "woman's place is in the home" now has a more modern twist.

Women are finding their places in homes, all right, and in record numbers. But this time, they're crossing the thresholds of single-family residences sans spouses.

In fact, single women have been out-muscling single men as first-time home buyers at a rate of about two to one over the past half decade, National Association of Realtors research indicates.

In 2002, approximately 18 percent of all first-home buyers in the U.S. were single women while just 9 percent were men, according to preliminary data from the National Association of Realtors' forthcoming Profile of Homebuyers and Sellers. Those numbers are up from 2001 tallies, when single women constituted 15 percent of the home-buying market and single men, 7 percent.

"Women need a sense of financial security and they obviously see a home as a sound investment," says Walter Malony, industry-trend specialist for the NAR. It's also far easier for single women to get a mortgage than two decades ago, he adds.

Setting the stage were several changes in lending standards, including a general relaxing of underwriting/down-payment requirements for home purchases and the FHA's push to allow single parents to count child support as income.

Protracted low interest rates and low down-payment programs also contribute to the trend, say analysts, as do chronically high divorce rates. bridgewaternjhomes.com contact Your local NJ Real Estate Specialist Bob Rose Jr. 908-295-1807

- advertisement -

The single-woman home buying phenomenon is not just a U.S. phenomenon. In Great Britain, the same segment is forsaking rental flats for self-owned homes at an even higher rate. More than 21 percent of first-time home buyers in the U.K. in 2002 were single women, according to Her Mortgage, which specializes in women home-buyer services.

The rise in single female buyers
Back in the states, some of the country's top residential real estate firms have seen their customer base of single women buyer grow sharply in recent years, including Pittsburgh-based Howard Hanna Real Estate Services, which has 65 offices in Pennsylvania, Ohio, West Virginia and New York.

Single women now comprise about 20 percent of the operation's first-time buyers system wide, said its president, Helen Hanna Casey.

"We see more families encouraging their daughters to own homes -- and not just be content to wait until they get married," she said. "Women are making more money and they are exerting more control over their destinies."

Single men, on the other hand, don't show the same nesting instinct, she said. "And their parents don't seem to be as concerned about the same type of security for them."

Women are also no longer bound by the notion that they must buy a house for life, so they are less apprehensive about buying a lower-cost abode because they realize they can sell with relative ease in this more transient, move-up society as their lives change, Casey said.

"We have women who might have rented for 20 to 25 years who are now buying in new (suburban) communities for a different lifestyle. Then we see a lot of young people who have moved back here from Washington, New York or Boston. They are buying new homes instead of moving back with their parents."

Casey said the single-woman home-buyer push began in earnest about eight years ago and has not abated.

Steven Lowenstein, a Realtor with Coletta & Associates of Cincinnati, said he too has seen an increase in the segment.

Women shop harder for homes
Lowenstein notes a distinct difference in the house-hunting habits of women which may contribute to the trend. "Women will go out and look at homes all day long, eight days a week," he said. "Men? Well, you have to just about drag them out."

He suggests that first-time women home buyers seek out a woman mortgage banker if possible. "Like a woman doctor, they may be more sensitive to a woman's needs," he said. It's odd, he notes, that while residential real estate is dominated by women, its chief funding instrument, mortgage banking, is still largely male dominated. That's slowly changing, but there are still be plenty of career opportunities for women in the mortgage business, said Lowenstein, who pens a regular local real estate column.

Lowenstein suggests that all first-time buyers get pre-qualified for a loan before starting their search, so they'll have a realistic price range to work with from the beginning and use their hunting time more efficiently.

"Single home buyers might give a little more thought to condominiums and townhomes because there will be other singles around, and a variety of community services such as exercise facilities," he added.

The National Association of Realtors estimates that 47 percent of condominium owners are single women.

Easing the intimidation factor
Doug Perry, first vice president of Countrywide Home Loans, said the home-buying process can be intimidating to first-timers of either sex. He said they should not hesitate to get free expert advice from lenders, either via phone or Web sites. "It shouldn't cost you a thing until you sign (for the loan)," he said.

Countrywide has seen an increase in first-time women buyers, in part due to low down-payment programs and other products that make buying easier, Perry said. "It helps buyers keep up with those rapidly rising home prices."

Perry has also seen women's earning and home buying power grow significantly in recent years.

Brian Sullivan, spokesman for the U.S. Department of Housing and Urban Development, said there is no gender-specific program available for first-time women home buyers, but HUD's American Dream Down Payment Initiative, plus its home-buying Housing Counseling program, as well as a proliferation of low down- payment programs are assisting new home buyers in unprecedented numbers.

"The down payment is the single greatest obstacle facing first-time buyers," said Sullivan. "But today, more Americans own their homes than at any time in the past."

Lenders notice the shift
Muriel Siebert, founder of the Women's Financial Network at Siebert, said banks are starting to cater more to female home buyers. "They know they're good customers, and we're seeing more people at these institutions who are tuned into women home buyers, and to women business owners."

Siebert's organization, which provides financial advice for women, cites a Long Island University study that says a woman's standard of living drops from 27 to 45 percent in the year following a divorce, while a man's rises 10 percent or more -- factors that obviously can make it tougher for the woman to buy and sustain a home.

"We have more women working today who are the key supporters of their family and they want to give themselves and their family stability," said Siebert, who was formerly banking superintendent of the state of New York and the first woman to own a seat on the New York Stock Exchange.

Women can face unique life-changing events, and may be more prone to drop out of the workforce to raise children or care for an aging parent. And that can drop pension and retirement benefits precipitously, said Siebert.

"Because women are living longer, their need for future financial stability is even more of a concern. Owning a home gives them that stability."

Saturday, April 16, 2011

Suburb of the week, Watchung NJ. Brought to you by Bob Rose Jr 908-295-1807 or bridgewaternjhomes.com

Watchung NJ Real Estate information/Town Information. Suburb of the week! Brought to you by area Real Estate expert Robert Rose JR. (edit/delete)

Robert Rose Jr is a NJ Real Estate expert with listing and selling NJ Real Estate visit bob below at his top website

http://www.americantowns.com/nj/watchung

www.bridgewaternjhomes.com

Home Values and Rental Rates

2010 Homeowner Statistics and Home Values	Watchung, NJ	New Jersey	United States
Owner Occupied Units	1,793	2,155,692	80,110,230
Owner Households, With Mortgage Any	64.25%	72.07%	70.65%
Owner Households, With No Mortgage	35.75%	27.93%	29.35%
Median Value Owner Households	$632,500	$250,242	$177,046
Valued Less than $20,000	0.00%	0.29%	1.98%
Valued $20,000-$39,999	0.00%	0.63%	3.31%
Valued $40,000-$59,999	0.00%	1.27%	5.64%
Valued $60,000-$79,999	0.00%	1.38%	4.79%
Valued $80,000-$99,999	0.06%	3.70%	8.96%
Valued $100,000-$124,999	0.06%	5.37%	8.79%
Valued $125,000-$149,999	0.00%	6.44%	7.92%
Valued $150,000-$174,999	0.00%	8.24%	7.94%
Valued $175,000-$199,999	0.22%	10.97%	8.11%
Valued $200,000-$249,999	0.61%	11.63%	7.66%
Valued $250,000-$299,999	3.57%	13.17%	8.72%
Valued $300,000-$399,999	7.98%	12.83%	8.63%
Valued $400,000-$499,999	18.29%	9.64%	6.36%
Valued $500,000-$749,999	36.25%	9.11%	6.34%
Valued $750,000-$999,999	20.25%	3.70%	3.01%
Valued More than $1,000,000	12.72%	1.63%	1.84%

2010 Housing Rental Rates	Watchung, NJ	New Jersey	United States
Renter Occupied Units	421	1,089,429	38,291,913
Median Rent	$1,152	$1,116	$950
Rent Less than $250	0.00%	1.76%	3.11%
Rent $250-$499	0.24%	2.83%	6.19%
Rent $500-$749	0.00%	2.66%	18.33%
Rent $750-$999	5.23%	21.91%	24.67%
Rent $1,000-$1,249	73.40%	41.26%	24.03%
Rent $1,250-$1,499	18.53%	11.60%	7.13%
Rent $1,500-$1,999	0.48%	9.34%	7.07%
Rent $2,000+	2.14%	5.35%	4.19%
No Cash Rent	0.00%	3.29%	5.28%

Information is deemed reliable but not guaranteed. Demographic Information FAQ