Portia Richardson:

Office: 732-549-1098x233

Cell: 973-495-5780

Fax: 732-548-3478

E-mail: portia0307@gmail.com

 

Metlar-Bodine House....

The Metlar-Bodine House is a stunning, two-story, Colonial home in Piscataway built in 1728 by wharf and storehouse owner Peter Bodine. The home changed hands several times before businessman George Metlar bought it in the 1890s. Metlar and his next-door neighbor, John Field, had a long-standing hatred of one another -- so long-standing that no one knows what caused the feud. Legend has it that George Metlar's hatred for Field carried over into the next life. Visitors report hearing unexplained noises and feeling blasts of icy cold air whenever anyone mentions Field's name.

The Metlar Bodine House is located in Piscataway Township.

 

Burrowes Mansion...

Located in Matawan, Burrowes Mansion is an early-18th century home known for its Georgian-style architecture and protective ghost. The original owners of Burrowes Mansion were American army Maj. John Burrowes Jr. and his wife, Margaret. In 1776, British troops stormed the mansion to find Maj. Burrowes, who already had fled. Margaret Burrowes blocked the entryway to the home and boldly refused when a British soldier demanded her shawl to staunch his wounds. The soldier retaliated by stabbing Margaret through the chest with his bayonet, killing her almost instantly. Visitors report seeing Margaret's ghost standing at the doorway of Burrowes Mansion, guarding her home against intruders.

Burrowes Mansion is located in Matawan, NJ

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Here are some more creepy houses in NJ

RINGWOOD MANOR.......

Ringwood Manor (ringwoodmanor.com) in Ringwood is a 51-room Victorian mansion set on 479 acres in upstate New Jersey. During the Revolutionary War, Ringwood Manor was home to Col. Robert Erskine, who was George Washington's first cartographer and Surveyor General. Though Erskine died in 1780, his ghost is often seen roaming the grounds of Ringwood Manor with a lit lantern in hand. Staff members who maintain the manor house at Ringwood State Park also report mysterious footsteps, locked doors that open by themselves and a cold, angry presence in Mrs. Erskine's bedroom.

Ringwood manor is located in Passaic County.

 

Today we found one of the Scariest houses in New Jersey.

Hancock House

Built in 1734, the Hancock House (www.state.nj.us) in Hancocks Bridge, New Jersey is an imposing brick structure that was the site of the 1778 Hancock's Bridge massacre. In the early morning of March 21, 1778, British army officer John Graves Simcoe led loyalist Queen's Rangers across Alloway Creek and into Hancock House, where they slaughtered as many as 40 members of the local Patriot militia. Legend has it that the men begged for their lives as they were bludgeoned and bayoneted death by loyalist soldiers that had been their friends and neighbors before the war. Ghosts of the slain Patriot soldiers are said to patrol the grounds of Hancock House and visitors report hearing spine-tingling screams and moans. Would you want to live there???

Hancock's Bridge is a census designated place and unincorporated community located within Lower Alloways Creek Township, in Salem County, New Jersey, United States.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portia Richardson:

Office: 732-549-1098x233

Cell: 973-495-5780

Fax: 732-548-3478

E-mail: portia0307@gmail.com

Last Week's Economic News in Review

New home construction took off, and lay-offs tumbled, while retail sales experienced an unexpected dip. New Home Construction Construction on new homes enjoyed a sizable surge, growing 9.8 percent to an annual rate of 1,174,000, the Census Bureau reported last week. In comparison to June 2014, this marked a considerable 26.6 percent annual increase. The key driver in last month’s new home construction was multi-family unit ground-breakings, which increased 29.4 percent. Meanwhile, new construction on single-family homes actually shrank 0.9 percent to a rate of 685,000. “In contrast to the multi-family segment, which has been on a clear upward path for some time now, the single-family segment continues to amble along, heading higher but not with any great sense of urgency,” Regions Financial Corp. Chief Economist Richard Moody told the Wall Street Journal. Building permits issued in June for new home construction grew 7.4 percent to an annual rate of 1,343,000, which was a whopping 30 percent over June 2014 estimate of 1,033,000. Permits for single-family home construction issued in June grew 0.9 percent to a rate of 687,000. Some economists warned that permits and starts on multi-family housing could shrink in coming months, as tax incentives in some markets, especially New York, come to an end. “We have to expect a big correction in July,” Pantheon Macroeconomics Chief Economist Ian Shepherdson told the Journal. Initial Jobless Claims After seeing a surge in lay-offs a week prior, initial jobless claims experienced some good news. First-time claims for employment benefits filed by the newly laid off during the week ending July 11 fell to 281,000, a plummet of 15,000 claims from the previous week’s total of 296,000, the Employment and Training Administration reported last week. That performance kept lay-offs well within the range of what’s considered a growing job market. “The trend in claims continues to point to labor market improvement,” BNP Paribas Economist Derek Lindsey told MarketWatch. The four-week moving average, considered a more stable measure of lay-off activity, did not see large swings in either direction during the past few week’s of the Administration’s reports, including this week’s. The average ticked up slightly to 282,500 claims, a gain 3,250 claims from the preceding week’s average of 279,250. Retail Sales Retail sales continued to see volatile performance, with retail and food services sales dropping 0.3 percent to $442.0 billion in June sales, the Census Bureau reported last week. While the contraction was unwelcome, retail sales are still growing over time, with June’s performance totaling 1.4 percent higher than June 2014. “Consumer fundamentals still appear pretty favorable, particularly the vigorous gains in job creation, but household caution still appears to be holding back a more rapid pace of spending growth,” J.P. Morgan Chief U.S. Economist Michael Feroli told the Wall Street Journal. Segments that experienced sizable downturns included furniture and home stores, which experienced a 1.6 percent decline in sales; clothing and accessories sales, which saw sales drop 1.5 percent; and building material and garden stores, which dropped 1.3 percent. Some sectors that saw positive performance included sales at electronics stores, which grew 1 percent; gas station sales, which grew 0.8 percent; and sales at general merchandise stores, which grew 0.7 percent. This week we can expect: Wednesday — Existing home sales for June from the National Association of Realtors. Thursday — Initial jobless claims for last week from the Employment and Training Administration; leading economic indicators for June from The Conference Board. Friday — New home sales for June from the Census Bureau.

Similarities between Conventional & FHA loans

•   Both currently offer some of the lowest rates in history.  

•   15-year conventional fixed-rate mortgage rates are at an all-time record low.  

•   The most popular FHA & conventional loans are fixed-rate mortgages, both also offer ARMs

Advantages of an FHA Loan

•   Credit scores as low as 580 to qualify.

•   Allowable debt-to-income ratio is higher for an FHA loan.

•   Low down payment – FHA loans generally require as little as 3.5% down.

•   100% gift from a family member for down payment and closing costs allowed.

•   Seller concession of up to 6% of loan amount allowed.

•   FHA loans feature less funds needed to close - leaving more money in your clients pocket at closing.

•   Easy Refinancing – Refinance up to 97.75% of your home’s value.

•   FHA also offers an FHA Streamline which allows you refinance with no appraisal and minimal credit requirements.

Advantages of a Conventional Loan

•   Slightly lower interest rates than FHA

•   Loan amounts of over $625,000 for single family dwelling allowed.

•   Options available on Mortgage Insurance (MI) payments, including piggy-back financing.

•   5% down on Fannie Mae eligible condos allowed.  

•   Borrowers with excellent credit can get lower rates with conventional loans.

•   No Mortgage Insurance (MI) at closing – FHA loans come with mortgage insurance premiums (MIP) that are built in over the life of the loan.  

•   FHA requires a one-time upfront mortgage insurance premium due – currently 1.75% of the total loan amount.  

•   Different repayment terms offer different, more competitive mortgage rates. The shorter your term, the lower the rate.

•   10, 15, 20, 25 or 30-year terms.  FHA loans generally do not offer as many options.

Overview:

If your client has some credit issues and does not have the funds for the standard 5-20% down payment, an FHA loan may be the better option.  If your client has good credit, a stable job and a sizable down payment – they could save more money over the life of the loan by choosing a conventional product.  At Movement Mortgage we excel at helping your client get the loan program that is right for them. Encourage your clients act quickly as these low mortgage rates will not last forever.

Portia Richardson:

Office: 732-549-1098x233

Cell: 973-495-5780

Fax: 732-548-3478

E-mail: portia0307@gmail.com

When homes are selling like hotcakes, there can still be some sticky real estate situations to wade through.
 hot real estate market can seem like the answer to your prayers if you’re ready to sell. And homes are selling fast in 2015 in many parts of the country, says Ralph McLaughlin, Trulia’s Housing Economist. A limited inventory is mainly responsible for creating the current seller’s market. Much of California remains a hot market, for example, as does Denver, CO, and parts of Florida. “We define a ‘hot market’ as one where most homes sell faster than two months,” says McLaughlin. But houses aren’t going like hotcakes everywhere. Just ask home sellers in Knoxville, TN; Columbia, SC; and Syracuse, Long Island, and Albany, NY. Most houses tend to sit longer than two months in those areas. If you own a home in a seller’s market, great! But don’t jump for joy just yet. A seller’s market has some downsides that you might not have considered. Here are five scenarios in which a seller’s market can actually be problematic for sellers — and how to help ease the burden.


1. Your house sells lickety-split But you’re still hunting for your next house. Unless you plan to become an RV enthusiast and roam the country, you’ll probably need to buy another house, which turns the tables — making you a buyer in a seller’s market. Some savvy sellers find the house they want before they list their current house for sale. But in a seller’s market, the dream house can sell before the current house does. “I always advise my sellers-turned-buyers to have a backup plan, such as temporary housing,” says Christine Lutz, a Chicago real estate broker. “It’s better to move twice than to feel rushed into a purchase.” Another option is to consider a lease-back, says Gary Wheeler, a California real estate agent with Willis Allen. Your buyers will need to agree to this plan, but if they do, you can rent your house back from the new owners during the lease-back period while you continue to look for another home.


2. The appraisal falls short Your hot market is so blazing hot that people are offering more than asking price. Ka-ching? Perhaps. But brace yourself: It could be more like Debbie Downer’s wah-wah. If the house appraises low, “the buyer may walk away,” says Kelly Hager, a Missouri real estate agent. In that case, you can try renegotiating the deal or pay for a second appraisal.


3. Bad offers all around During a buying frenzy, some buyers make promises they can’t keep. “By not vetting offers, sellers may sit in a contract just to have it terminate three weeks later,” says Sarah Bowles, a Denver real estate agent. Then, when buyers see that your house has been sitting for several weeks in a hot market, they wonder what’s wrong with the house. To avoid this problem, skip the offers that don’t come with a mortgage preapproval.


4. Trying to beat the 1031 clock Section 1031 of the U.S. tax code lets you sell one investment property and buy another investment property without paying tax on the sale. The catch? The clock is ticking. You need to identify a property to buy within 45 days. In a seller’s market, “Sellers can find themselves in tough competition to buy a replacement property in the time needed to qualify the exchange to defer taxes,” says Crystal Stranger, author of The Small Business Tax Guide. But relax a little — you have 180 days to actually close.


5. Your big ego Just because you’re selling in a seller’s market doesn’t necessarily mean you’ll automatically get offers for more than your asking price. “The biggest problem I see with sellers in a seller’s market is being overly optimistic about price,” says Bruce Ailion, an Atlanta real estate agent. When a reasonable offer from a strong buyer comes in, the sellers who expect extravagant offers often turn it down. What happens then? “The property remains on the market, becomes stale, and ultimately sells for less than the first strong offer,” says Ailion. If you plan to sell soon, consider these insights from Trulia Housing Economist McLaughlin: Inexpensive homes sell fastest. The market picks up in the spring and dies down between August and October, extending through the winter. (The exception is vacation homes in hot climates, such as Arizona and Florida, where the market stays strong during winter.)


http://www.trulia.com/blog/5-ways-a-hot-market-hurts-sellers/?ecampaign=cnews&eurl=www.trulia.com%2Fblog%2F5-ways-a-hot-market-hurts-sellers%2F

Portia Richardson:
Office: 732-549-1098x233
Cell: 973-495-5780
Fax: 732-548-3478
E-mail: portia0307@gmail.com

Hello everyone! I'm Portia Richardson. I work for Keller Williams and want to help you get the true worth of your home. If you have any questions or concerns regarding this, you can contact me at portia0307@gmail.com or 973-495-5780. Thank you! Hope to hear from you soon!