Archive for the 'NJ First Time Home Buyers' Category
New Jersey Buyer’s Mansion Tax
November 21st, 2007 Categories: Buying a Home in NJ, NJ First Time Home Buyers, NJ Real Estate Laws
Congratulations!!! 
You just placed a bid on a home in NJ over $1,000,000, and the seller agreed to your price!!!
Did you know that you will owe the State of New Jersey 1% of the total purchase price for any property purchased with a sales price of $1,000,000 or higher?
Welcome to the NJ Buyer’s Mansion Tax. The fee is paid to the County Clerk where the property is located. Both residential and commercial properties are impacted by this fee. (There are limited exclusions that you should check with your NJ Real Estate Lawyer about.)
The fee is collected at closing as a part of the Buyer’s closing costs and will be paid from the Buyer’s attorney trust account. The County Clerk will not accept a personal check from a Buyer for any amount in excess of $10,000. Your lawyer should properly reflect the Mansion Tax on the HUD.
Related Info
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18 Minutes to the Short Hills Mall
October 25th, 2007 Categories: Buying a Home in NJ, Commuting to NYC, Featured Homes, NJ First Time Home Buyers, NJ Open Houses
OPEN HOUSE SUNDAY November 4th, 1–4pm
Wow!!! Only $1,185,000
Over one acre and a half mile to the NYC train.
Twenty Minutes to Newark Airport. Great Schools.
Wonderful Community.
Stirling, NJ. A great place to live.
Located on a quite cul-de-sac in the Autumn Crest section of Stirling, this spectacular 6900 sf * Colonial home boasts 16 rooms including 6 bdrms, 4 full baths, and 1 half-bath with an open floor plan, hardwood floors, crown moldings and tastefully appointed throughout. The expansive master suite plus 3 additional bdrms are on the second floor and an in-law/au-pair apt. is found on the lower level.
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Residential Real Estate is a LOCAL Market Product, Even in New Jersey
October 4th, 2007 Categories: Buying a Home in NJ, NJ First Time Home Buyers, Real Estate News
Hot New Jersey Real Estate Markets…Think LOCAL!
I just had to share a piece from Keller Williams Realty International:
TOP STORY: Gary Keller: The only market that matters is yours!
Last week on the Today Show, during a segment on the national real estate market, CNBC’s Jim Kramer uncompromisingly stated, “now is the absolute worst time to buy!”
Concerned that remarks such as these from so-called experts might be pushing potential buyers to the sidelines?
Here’s what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current market:
First, residential real estate is not a national market product — it is a local one. To say from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees — it is a useless and irrelevant perspective. What is happening in your local market is all that matters.
Second, trying to predict when it is a good time to buy, or not, means you’re trying to time the market. Staying on the sidelines is the surest way for most people to never time anything correctly.
Last, and maybe most important — there are always two markets in every market. There is the market of properties that are good buys and there is the market of properties that are not a good buys. Interestingly enough, this is true in either buyer or seller markets. To categorically say that this is the time to buy or not is absolutely ignoring the fact that every market really has two markets inside it.
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Millburn High School Named National Blue Ribbon School
October 2nd, 2007 Categories: Buying a Home in NJ, Education in NJ, Millburn & Short Hills Living, NJ First Time Home Buyers
Wow!!! I just received this letter from the Millburn Parent Teacher Organization (PTO) written by the Superintendent of Millburn Schools:
“Please see the letter I received from Dr. Brodow this morning. Congratulations to Dr. Niegel, Mr. Miron, Dr. Brodow and the entire faculty, staff and student body for all of their hard work.”
“I’m pleased and proud to let you know that this morning the United States Dept. of Education has named Millburn High School a National Blue Ribbon School. The High School was honored for its academic excellence. It appears that we are the only regular public high school in New Jersey that was so honored. Congratulations to our students, faculty, staff and parents.
Regards, Dr. Brodow”
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Top Ten Reasons for Moving to Short Hills and Millburn New Jersey
October 1st, 2007 Categories: Buying a Home in NJ, Commuting to NYC, Millburn & Short Hills Living, NJ First Time Home Buyers
I love living in Short Hills, an area of Millburn Township. Not only did I grow up here, but I’m also raising my kids here. They are currently in Millburn High School.
Buyers new to the area are always asking me why the town is so great…here are the Top Ten reasons:
1. Commuting to NYC. You can be at Penn Station within 41 minutes on an Express Train from Short Hills or Millburn Train Stations on the Midtown Direct Train Line. Or, if you need to go to Downtown Manhattan, you can be Hoboken in just 36 minutes to catch the PATH or ferry across the Hudson. As a resident an annual parking permit is $321. We even have valet parking in Millburn. It’s pretty funny to watch those early morning commuters that are running late. They toss their keys to the attendant as they rush to the train.
2. The Schools. Millburn High School has been named as one of the “best” High Schools in NJ by National publications such as Newsweek, The Wall Street Journal and Money Magazine. Average SAT scores for Millburn High School 2006 graduates were 603 Verbal and 640 Math. The class also had 8 National Merit Semi-Finalists and 49 National Merit Commended Students.
3. Community. On August 4th, 2007 Millburn, NJ celebrated its Sesquicentennial (150 years) Anniversary with a day of family fun events. Annual July 4th townwide celebration, street fairs, summer/fall Farmer’s Market, Classic Car Show and the Holiday Snowflake Parade are just a few of the events in town.
4. Great Downtown. Terrific stores from Bridal (Calvary Bridal House, Vera Wang Bridal House, Priscilla the Bride’s Shop), to Maternity (Shelly Belly) to Home Design (Kitchen Expressions, Sawhorse Designs) to hip and trendy fashions (Mannings, Gito and Gotham) and restaurants from Sushi (Samurai Sushi is the best of the three) to Italian (there are 6 but I am partial to Basilico for dining and La Strada for Pizzas) to Thai, Chinese, Deli, Tex-Mex to Modern American Cuisine (Restaurant MC…the Best New Restaurant and Best New American Restaurant per New Jersey Monthly Magazine…tell Marc that Perri sent you.)
5. The Entertainment Industry Loves Us. Adriana died here and AJ Soprano’s car caught fire in the South Mountain Reservation just past the Papermill Playhouse, as well as many other scenes from HBO’s popular series, Sopranos. The 1979 Movie “Hair” filmed at the then “Day Estate” and now Short Hills Park. Short Hills was the setting for Philip Roth’s 1959 novel “Goodbye, Columbus.” Anne Hathaway (Becoming Jane, Devil Wears Prada, The Princess Diaries), John C. Mcginley (Perry Cox from Scrubs), Jon Kilik (Academy Award Nominated Producer), Lisa Zeno Churgin (Academy Award Nominated Film Editor) all grew up in town.
6. Short Hills Mall. If you want it, they have it. Neiman Marcus. Nordstroms. Tiffany’s. Saks. Bloomies. Louis Vuitton. Burberry. Chanel. Fendi. Cole Haan. Jimmy Choo. True Religion Brand Jeans. To name but a few of the almost 150 stores. If you get hungry, Legal Seafood and Joe’s American Bar & Grill are my favorites.
7. Easy access to Newark Airport and Routes 24, 78, 287 and 287.
8. Great Town Run and Club Sports: Biddy Basketball, Biddy Baseball, Soccer, Little League, Field Hockey, Flag Football.
9. Neighborhoods. There are many neighborhoods within the township each with their own distinctive personalities…the key hometown feel is most apparent at Halloween when the kids are out in droves and feeling safe in the streets as they go door to door for their goodies.
10. Year Round Activities in the Parks. In town Taylor park is home to summer concerts, playgrounds and town sporting events. Gero Park finds the community pool, par-3 golf course, roller rink, tennis courts, little league and playgrounds, Short Hills Park is home to Club Soccer and Greenwood Gardens.
Related Info
NJ Monthly School Rankings
The Short Hills Mall
NJ Transit
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