Archive for January 2012

Lease Purchase Option in Ocean County

With potential home-buyers sometimes finding it difficult to get a mortgage, more and more consumers are looking for an alternative to realizing the American dream of owning a home.  One of those alternatives is the “Lease Purchase Option.”

First; What is a Lease Purchase Option?

This basically means you are leasing or renting a property with an option to buy it at a future date. The future price of the property should be fixed at the time the lease-option is signed.

Usually there is an up-front payment of some amount to purchase the option. The amount can vary. Sometimes the monthly payment is larger than normal and the excess is used to purchase the option. In some cases, the option money can be applied toward the down payment for the later purchase of the home.

Lease-purchase plans can be structured in such a way that both parties benefit. They can also be structured so that all the benefits flow to one of the parties and none to the other. Buyers especially need to be careful because they usually know less about the market than sellers, and the seller usually provides the contract….unless you are working with a REALTOR!

The lease-purchase offers homeownership opportunities to consumers who can’t qualify for a loan from any source, but who are prepared to bet on themselves. The bet is that before the option period expires, they will qualify for the mortgage they need to exercise the purchase option. During the option period, they have the opportunity to rebuild their credit and accumulate savings while living in the house.

Even though it can be more costly, the right not to exercise the option is of value to buyers. If there is something seriously wrong with the house, neighborhood, or neighbors, the buyer can cut her losses by not exercising the option.

Dangers to Buyers

A major threat to buyers is contractual provisions that can nullify their option, such as the failure to pay the rent on the first day of the month. Such provisions are most likely to appear in contracts used by developers or firms that own multiple homes.

As with all contracts, it is wise to consult a real estate attorney before signing.

Here are some “lease purchase option’ homes in Ocean County, NJ:

Details: MARACAIBO PL, TOMS RIVER, NJ – $1,000
Details: MANSFIELD DR, BRICK, NJ – $1,350
Details: GREENBRIAR BLVD, BRICK, NJ – $1,350
Details: KNOLLWOOD TER, BRICK, NJ – $2,200
Details: WALNUT DR, LANOKA HARBOR, NJ – $1,500
Details: PASSAIC AVE, POINT PLEASANT, NJ – $1,795
Details: VESSEL LN, MANAHAWKIN, NJ – $1,400
Details: BRUCE DR, MANAHAWKIN, NJ – $1,750
Details: PEGGY LN, MANAHAWKIN, NJ – $1,750
Details: JONATHAN DR, MANAHAWKIN, NJ – $2,200

Get a positive, helpful consultant for buying or selling a home: Karl Hess, Keller Williams Realty

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Open House Toms River, January 29, 2012

Open House in Toms River with photos and maps for Sunday January 29, 2012. Toms River Open House information including school reports, neighborhood data and Toms River Market Trends.

Here is the list of Open Houses in Toms River on Jan 29, 2012 with easy to access maps and numerous photos. These homes are located in East Dover, North Dover, Georgetown, Shelter Cove, Ortley Beach, Money Island, Green Island, Silverton, Snug Harbor, and throughout Toms River Twp.

Details: 1117  11TH AVE, TOMS RIVER, NJ – $216,000
Details: 1809  THIRD AVE, TOMS RIVER, NJ – $239,999
Details: 2120  4TH AVE, MANCHESTER, NJ – $264,900
Details: 1740  12TH AVE, TOMS RIVER, NJ – $379,900
Details: 1921  RED CEDAR ST, TOMS RIVER, NJ – $229,900
Details: 1456  NEVADA DR, TOMS RIVER, NJ – $232,500
Details: 12  GEM AVE, TOMS RIVER, NJ – $259,000
Details: 1602  WOODCREST DR, TOMS RIVER, NJ – $259,900
Details: 233  TIMBERLINE RD, TOMS RIVER, NJ – $274,000
Details: 84  TENNYSON AVE, TOMS RIVER, NJ – $285,000
Details: 114  JOHNSON RD, TOMS RIVER, NJ – $395,000
Details: 15 E COVE POINT RD, TOMS RIVER, NJ – $400,000
Details: 314  ESTATE POINT RD, TOMS RIVER, NJ – $456,880

Most Open Houses will take place between 12:00 PM and 3:00 PM, so use the maps provided in the links to plan your day…or call me and I’d be happy to set up an exclusive “tour of homes” at your convenience.

Get a positive, helpful consultant for buying or selling a home:

For a professional, informed consultation, call or email me at your convenience: Karl Hess, Ocean County Real Estate, Keller Williams Ocean County

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Open House Lacey Twp, January 29, 2012

Open House in Lacey Twp, including Lanoka Harbor and Forked River with photos and maps for January 29, 2012. Lacey Twp Open House information with school reports, neighborhood data with Lacey Twp Housing Market Trends.

Click here for the list of all Open Houses in Lacey Twp on Jan 29, 2012 with easy to access maps and numerous photos, including Lanoka Harbor, Forked River, Bamber, Sunrise Beach and the surrounding area.

Details: 1618  WHITCOMB RD, FORKED RIVER, NJ – $229,500
Details: 803  WINDSOR ST, FORKED RIVER, NJ – $229,500
Details: 812  MAPLE RD, LANOKA HARBOR, NJ – $269,900
Details: 141  FOXHOLLOW DR, LANOKA HARBOR, NJ – $329,000
Details: 1115  SKIFF WAY DR, FORKED RIVER, NJ – $564,999

Most Open Houses will take place between 12:00 PM and 3:00 PM, so use the maps provided in the links to plan your day…or call me and I’d be happy to set up an exclusive “tour of homes” at your convenience.

Get a positive, helpful consultant for buying or selling a home:

For a professional, informed consultation, call or email me at your convenience: Karl Hess, Ocean County Real Estate, Keller Williams Ocean County

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Open House Bayville January 29, 2012

Open House in Bayville with photos and maps for Sunday Jan 29, 2012. Open House information including school reports, neighborhood data and Bayville Housing Market Trends.

Click here for the list of Open Houses in Bayville on January 29, 2012 with easy to access maps and numerous photos. These homes are located in Bayville, Holiday City, Cedar Beach, Holly Park, Kesswick, Manitou Park, Pinewald, and throughout Berkeley Twp.

Details: 32  ANCHORAGE BLVD, BAYVILLE, NJ – $149,000
Details: 20  CHAIN BLVD, BAYVILLE, NJ – $189,000
Details: 77  RONALD AVE S, BERKELEY, NJ – $289,900
Details: 324  WHEATON AVE, BAYVILLE, NJ – $354,900
Details: 125  23RD AVE, BERKELEY, NJ – $469,000
Details: 379  BAYVIEW AVE, BAYVILLE, NJ – $484,900

Most Open Houses will take place between 12:00 PM and 3:00 PM, so use the maps provided in the links to plan your day…or call me and I’d be happy to set up an exclusive “tour of homes” at your convenience.

Get a positive, helpful consultant for buying or selling a home in Bayville:

For a professional, informed consultation, call or email me at your convenience: Karl Hess, Ocean County Real Estate, Keller Williams Ocean County

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Open House Point Pleasant, January 29, 2012

Open House in Point Pleasant and Point Pleasant Beach with photos and maps for January 29, 2012. Point Pleasant Open House information including school reports, neighborhood data and Point Pleasant housing market trends.

Here is the list of Open Houses in Point Pleasant on Jan 29, 2012 with easy to access maps and numerous photos.

Details: 605  ATLANTIC AVE, POINT PLEASANT BEACH, NJ – $430,000
Details: 1301  SAINT LOUIS AVE, POINT PLEASANT BEACH, NJ – $519,000
Details: 701  CEDAR AVE, POINT PLEASANT BEACH, NJ – $545,000
Details: 305  CENTRAL AVE, POINT PLEASANT BEACH, NJ – $579,000
Details: 707  ATLANTIC AVE, POINT PLEASANT BEACH, NJ – $599,000
Details: 10  HENDRICKSONS ROW, POINT PLEASANT BEACH, NJ – $749,000
Details: 1609  BEACON LN, POINT PLEASANT BEACH, NJ – $1,300,000
Details: 1014  LYNN AVE, POINT PLEASANT, NJ – $229,000
Details: 516  SMITH DR, POINT PLEASANT, NJ – $339,000
Details: 1735  BAY BLVD, POINT PLEASANT, NJ – $409,900
Details: 2216  FOSTER RD, POINT PLEASANT, NJ – $449,000

Most Open Houses will take place between 12:00 PM and 3:00 PM, so use the maps provided in the links to plan your day…or call me and I’d be happy to set up an exclusive “tour of homes” at your convenience.

Get a positive, helpful consultant for buying or selling a home:

For a professional, informed consultation, call or email me at your convenience: Karl Hess, Ocean County Real Estate, Keller Williams Ocean County

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Open House Brick Twp, January 29, 2011

Open House in Brick Township with photos and maps for Sunday January 29, 2012. Brick Township Open House information including school reports, neighborhood data and Brick Twp Housing Market Trends.

Here is the list of Open Houses in Brick Township on January 29 with numerous photos and maps. These homes are located in Baywood, Osbornville, Herbertsville, Cedarwood, Sandy Point, Midstreams, Lake Riviera, Metedeconk, South Hampton, Mantoloking, etc.

Details: 464  AUGUSTUS RD, BRICK, NJ – $229,999
Details: 129  VAN CORTLANDT DR, BRICK, NJ – $245,000
Details: 836  MARBRO AVE, BRICK, NJ – $259,900
Details: 555  COLORADO AVE, BRICK, NJ – $265,000
Details: 63  CEDAR DR, BRICK, NJ – $279,900
Details: 239  SPRUCEWOOD DR, BRICK, NJ – $287,500
Details: 21  HOLLYCREST DR, BRICK, NJ – $300,000
Details: 420  NASSAU ST, BRICK, NJ – $319,900
Details: 472  FRANCE AVE, BRICK, NJ – $325,000
Details: 160  LINDBERGH DR, BRICK, NJ – $325,000
Details: 86  STEPHAN RD, BRICK, NJ – $339,900
Details: 534  IRISADO DR, BRICK, NJ – $349,000
Details: 15 W RIVERSIDE DR, BRICK, NJ – $350,000
Details: 18  NEJECHO DR, BRICK, NJ – $350,999
Details: 24  PRINCETON PINES PL, BRICK, NJ – $359,000
Details: 110  VALENCIA DR, BRICK, NJ – $369,000
Details: 303  SUDBURY RD, POINT PLEASANT, NJ – $369,900
Details: 237  SUNRISE ST, BRICK, NJ – $373,000
Details: 238  PRINCETON AVE, BRICK, NJ – $419,900
Details: 28  ROYAL DR, BRICK, NJ – $499,900
Details: 772  COMMUNITY DR, BRICK, NJ – $499,900
Details: 754  TALL OAKS DR, BRICK, NJ – $534,900
Details: 43  MANDALAY RD, BRICK, NJ – $549,900
Details: 38  COMMODORE DR, BRICK, NJ – $649,000
Details: 578  PARKER AVE, BRICK, NJ – $719,000
Details: 151  ARNIE’S POINTE, BRICK, NJ – $799,990
Details: 595  POINT AVE, BRICK, NJ – $1,025,000

Most Open Houses will take place between 12:00 PM and 3:00 PM, so use the maps provided in the links to plan your day…or call me and I’d be happy to set up an exclusive “tour of homes” at your convenience.

Get a positive, helpful consultant for buying or selling a home:

For a professional, informed consultation, call or email me at your convenience: Karl Hess, Ocean County Real Estate, Keller Williams Ocean County

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Open House Jackson, January 29, 2012

Open House in Jackson, NJ with photos and maps for Sunday Jan 29, 2012. Open House information including school reports, neighborhood data and Jackson Housing Market Trends.

Click here for the list of Open Houses in Jackon January 29, 2012 with easy to access maps and numerous photos. These homes are located in Bennetts Mills, Cassville, Francis Mills, Jackson Mills, North Jackson, Woodmere, and throughout Jackson Township.

Details: 59  PENNSYLVANIA AVE, JACKSON, NJ – $239,000
Details: 15  INDIANA AVE, JACKSON, NJ – $239,900
Details: 23  BUCKINGHAM DR, JACKSON, NJ – $259,900
Details: 452  BREWERS BRIDGE RD, JACKSON, NJ – $274,999
Details: 38  CHELSEA RD, JACKSON, NJ – $289,000
Details: 526  LEESVILLE RD, JACKSON, NJ – $314,900
Details: 1055  BENNETTS MILLS RD, JACKSON, NJ – $319,000
Details: 820  HYSON RD, JACKSON, NJ – $379,900
Details: 1  KENT CT, JACKSON, NJ – $412,000
Details: 14  MEADOWLARK CT, JACKSON, NJ – $474,900
Details: 624  HYSON RD, JACKSON, NJ – $474,900
2114Details: 9  ALYSSA ROSE LN, JACKSON, NJ – $549,900

Most Open Houses will take place between 12:00 PM and 3:00 PM, so use the maps provided in the links to plan your day…or call me and I’d be happy to set up an exclusive “tour of homes” at your convenience.

Get a positive, helpful consultant for buying or selling a home in Jackson:

For a professional, informed consultation, call or email me at your convenience: Karl Hess, Ocean County Real Estate, Keller Williams Ocean County

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Is Buying a “Relocation House” In Ocean County a Good Deal?

I recently took a buyer out to tour Waterfront Homes in Bayville, NJ.  One of the houses we looked at had this language in the agent remarks section; “Extra paperwork involved.” The extra paperwork was in relation to the house being sold by a relocation company.

So, Is Buying a “Relocation House” a Good Deal?

A lot of people ask, ‘Are relocation house purchases a good deal?’ If you’re asking this question, you are most likely interested in purchasing a house from a relocation company. By buying a house from a relocation firm, often called a ‘relo,’ you can get a good deal if you take a few precautions as you go through the home buying process.

Relocation companies typically buy homes at a discount, but with the increased number of foreclosures and short sales in the past couple of years, they may be more willing than ever to make a deal. With the glut of properties available at great prices, take your time, do your due diligence, and you should be able to drive a hard bargain.

Steps to Make Relocation House Purchases a Good Deal

You need to find out the pricing history for the home and the neighborhood. Is the relocation company pricing the property to move? Get pricing opinions on the properties you select. This will usually be called a Comparative Market Analysis or CMA, available through me. Make an offer only after you have all of this information. Also, remember that a relocation company is an unemotional seller, and this can help you get a good deal on a relocation house purchase. Unlike an individual owner, there’s virtually no risk of ‘offending’ the seller with a low offer.

Buying a House from a Relocation Firm

Most properties owned by relocation companies will be sold ‘as-is.’ This means your home inspector’s inspection needs to be as thorough as possible when buying a house from a relocation firm. Be sure the home inspector knows the home is a relocation house being sold by a relocation company. This is really important for all real estate transactions, but especially when buying from a relocation company. The relocation company’s property disclosure form will likely say that they have “no knowledge of any problems.” In other words, they can say whatever they want, and you’ll have a virtually impossible time trying to prove otherwise. Make sure your inspector is extra thorough on your inspection and looks for things like water damage, evidence of poor drainage, foundation settling … anything that could cost you money fixing after you’ve purchased the house.

Get pre-approved and not just pre-qualified by your mortgage lender. Pre-approved means you’ve filled out a mortgage application. This way your offer, even if it’s a low one, will get more attention. The more complete your offer is, and the quicker and easier the relocation company perceives the closing to be,  regarding what percentage you can put down, how quickly you can get settlement, and your credit score – may end up being more important than your offer.

As with other real estate listings, the length of time a house is on the market will have an impact on how willing the relocation company will be to negotiate on price. You will have the greatest bargaining power with homes that have been on the market longer. If you offer a low price on a house that has only been on the market a few weeks, the relo company may not budge. But, if you find a relocation house that has been on the market for a few months or one that has already had several price reductions, you may be able to get a really good deal.

It all depends on inventory, time on the market, and market conditions. You cause no harm by offering low, and you just might get a deal. The worst that can happen is the relo company says no. Unless you are in a seller’s market or the home is already deeply discounted, your chances of getting a good deal on a relocation house purchase are good.

If the relocation company purchased the house, they are paying the utilities and taxes as well, so they may be in a good position to sell at a lower price to a quick and secure settlement. Ask if they’ll pay or split closing costs if they won’t lower the price.

You want someone looking out for your interests, not those of the relocation company, so you should hire a real estate attorney to review the documents. Most relocation companies require the use of their sales agreement forms, which differ from standard realtor-approved forms, and you don’t want to end up in a bad mortgage deal.

Many people have successfully purchased houses from relocation companies. With a good real estate agent and a well-constructed offer, in this market, you should be able to get a good deal on a relocation house purchase. Which brings us back to the question, ôAre relocation house purchases a good deal?ö With the right market and a little effort from the buyer, they can be. Information provided by Karl Hess, Keller Williams Realty Ocean County and Realtor101.

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Open House Toms River January 22, 2012

Open House in Toms River with photos and maps for Sunday January 22, 2012. Toms River Open House information including school reports, neighborhood data and Toms River Market Trends.

Here is the list of Open Houses in Toms River on Jan 22, 2012 with easy to access maps and numerous photos. These homes are located in East Dover, North Dover, Georgetown, Shelter Cove, Ortley Beach, Money Island, Green Island, Silverton, Snug Harbor, and throughout Toms River Twp.

Details: 444  DOVER RD, TOMS RIVER, NJ – $213,000
Details: 88  PINEWOOD RD, TOMS RIVER, NJ – $253,000
Details: 14  LAGOON DR W, TOMS RIVER, NJ – $279,000
Details: 2015  LONGEWOOD LN, TOMS RIVER, NJ – $327,500
Details: 340  MARIA DR, TOMS RIVER, NJ – $549,000
Details: 28  CATTUS ST, TOMS RIVER, NJ – $579,000
Details: 20  HOLIDAY RD, ORTLEY BEACH, NJ – $679,900
Details: 18  CAPTAINS DR, TOMS RIVER, NJ – $849,999
Details: 181  DAYNA COURT, TOMS RIVER, NJ – $850,000

Most Open Houses will take place between 12:00 PM and 3:00 PM, so use the maps provided in the links to plan your day…or call me and I’d be happy to set up an exclusive “tour of homes” at your convenience.

Get a positive, helpful consultant for buying or selling a home:

For a professional, informed consultation, call or email me at your convenience: Karl Hess, Ocean County Real Estate, Keller Williams Ocean County

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Lacey Twp Open House January 22, 2012

Open House in Lacey Twp, including Lanoka Harbor and Forked River with photos and maps for January 22, 2012. Lacey Twp Open House information with school reports, neighborhood data with Lacey Twp Housing Market Trends.

Click here for the list of all Open Houses in Lacey Twp on Jan 22, 2012 with easy to access maps and numerous photos, including Lanoka Harbor, Forked River, Bamber, Sunrise Beach and the surrounding area.

Details: 200  NAUTILUS BLVD, FORKED RIVER, NJ – $239,900
Details: 1211  LAUREL BLVD, LANOKA HARBOR, NJ – $324,999

Most Open Houses will take place between 12:00 PM and 3:00 PM, so use the maps provided in the links to plan your day…or call me and I’d be happy to set up an exclusive “tour of homes” at your convenience.

Get a positive, helpful consultant for buying or selling a home:

For a professional, informed consultation, call or email me at your convenience: Karl Hess, Ocean County Real Estate, Keller Williams Ocean County

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