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I love the idea of improving neighborhoods, especially mine. In 2009, I had the opportunity to acquire a home in my neighborhood, to be exact, the home right next door. The home had stood for over 130 years but unfortunately, it was in very poor shape and would have cost more to renovate than it was worth. It pains me to see any home that has stood the test of time face the wrecking crew but it gives me great pride to know that I’m leaving my mark on my community by helping shape its future. The town was founded in the mid to late 1830’s and still has a number of homes that date from around the 1840’s, including mine. Front porches, understated features, and a traditional style of architecture are featured on most. At one time, the town had several mills that processed anything from lumber to grains, all powered by the lake the borders the town which is the main reason for the town’s existence. It has been and hopefully will continue to be one of the many treasures in South Jersey that many overlook on their destination. The home I had demolished was about 2400 sqft and featured 5 bedrooms, 2 full baths, living room, dining room, family room and a huge kitchen. It sat on about 1 acre of flat ground that supported 8 good size trees and a small shed. On December 31, 2010, it all came down and became a huge pile of debris. It was amazing to watch from the first grab of the excavator’s claw to the last pass of the bulldozer putting the final touch on the lot’s new grading. All of this was necessary to help provide a clean slate for two new homes that will be built on the ground. I learned a lot so far from this project including the real costs of dealing with the municipal and county government, costs and timeframes of demolition, surveying, and along the way have found a renewed desire to run for an office in my town…eventually. I’ve experienced a sense of accomplishment knowing that I have forever changed the look of my neighborhood for the better, a feeling few can say they have done. Although the fun part of the job is complete, I am still learning and look forward to the next steps in this project; the construction of the new homes, sale of the properties, and the welcoming of new neighbors. Bill Nelson Real Estate Investor New Jersey Real Estate Broker 1-9-2011
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Windows
Ahh, its fall, and some like it, others with a lot of trees loath it and you know the shoveling of snow will not be too far off in the future. As many take treks to the Poconos and other areas to follow the beauty of nature’s fall colors, I take the time to ensure my home will make it through another winter. Trust me, I’d rather be taking a bike ride through one of the many parks in our area enjoying the cooling temperatures and the show provided by nature but unfortunately, my home has stopped calling me and has started to shout at me over what it needs. Over the next few articles, I’ll try to paint a picture of the most often overlooked things that could make your home a little easier to own over the winter months and beyond.
When you get a few minutes, take a good look at your windows. No, I don’t mean how clean the glass looks but the overall condition of them. Are the seals at the bottom and sides dry and cracked? Are there any seals to prevent drafts? Windows are a huge source of heat loss in a home. For an investment as low as $10 per window, you can buy replacement seals and install them yourself in a matter of minutes…even if you’re not that handy. Simple tools like a pair of scissors and a razor knife are all that you need to complete the job.
While you’re focused on the windows, look at the exterior frame and sill. Although I don’t recommend painting in the cooler temperatures (although you can buy exterior paint rated to near freezing temperatures), you can use caulk and putty to help stabilize or repair a damaged frame or sash. Pay attention to the joints in the capping and frame around the window. This area should be caulked and many (I’m guilty as well) forget that the caulk doesn’t last forever. If your home was sided about 5 years ago or more, inspect this area and replace the caulking if needed. This will help seal out water from getting behind the siding which could cause a list of other issues.
Remember, practice safety during all repairs, read and follow all directions on the tools and materials you are using, and let me know your results and solutions on maintaining your best investment, your home. Treat your home right and it might be around for generations to come.
Bill Nelson is a licensed New Jersey Real Estate Broker with Coldwell Banker Elite and a Property Manager for F&S Rental Properties, LLC with over 13 years of experience in the real estate industry. Feel free to visit him online at http://billnelsonrealtor.com or contact him directly by phone, 856-466-2502 or by e-mail sent to bill@billnelsonrealtor.com.
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No Waiting for the Bank-Not a Short Sale
• 1,125 sq. ft., 2 bath, 2 bdrm single story "First Floor Royal Model Condo"
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MLS®
$155,000
- Value Priced
Hunt Club, Sewell
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Well Maintained First Floor Condo in the Hunt Club. This is a premium location backing to the duck pond and provides a great view with privacy. Inside you will find a ceramic tile floor entryway, newer flooring in the kitchen and baths, newer berber style carpeting throughout. The dishwasher and stove were replaced in 2009. The condo was also repainted in 2009.The master bedroom includes a nice sized walk-in-closet, a private bathroom, and a view of the pond. The main bathroom features a ceramic tile tub surround that was just re-grouted. Whether you're downsizing, starting out, or love the condo lifestyle, this home and community offers so much. Enjoy the pool, use of the clubhouse, and the convenience of easy access to major highways provided for with the Hunt Club. By the way, this is a turn-key home ready for you and your furniture. Also for Rent, $1400p/mo. (Disclaimer: All room sizes were rounded to the nearest foot and the square footage was taken from the builder's floor plan provided)
Property information
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Many towns in NJ are starting to promote a great program to encourage people to Live where they Work. The program is being backed by the New Jersey Housing and Mortgage Finance Agency in partnership with the participating municipalities offer it. Currently, Washington Twp and Glassboro are participating in the program as well as about 20 other towns throughout the state. Qualified home buyers can get down payment assistance, low interest mortgage loans, and much more. To qualify, the home buyer must meet certain income requirements and at least one person who will be on the mortgage must work in the municipality. If you are interested, let me know and I'll put you in touch with a participating lender to be pre-approved for the program. While you're at it, let me know what you would like in a home and I'll find a few that match. Washington Twp info: http://www.twp.washington.nj.us/lwyw Glassboro info: http://www.glassboroonline.com/lwyw/ Bill Nelson's Contact Info: 856-466-2502 / wnelson@cbelitenj.com
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This might not be a signifigant date to you but if you are a first time home buyer, pay attention to it! This is the date that marks the end of the First Time Home Buyer's Credit. If you were looking for a reason to buy a home, this is it! You can get up to $8,000 in your pocket if you qualify. You might be thinking that this is two months away and you have time to find a home, WRONG!!! You really only have about a week left due to the new regulations for financing and the time needed to process the transaction. It is not unusual to see 60 day or longer closings taking place and the last thing you would want to do its to find out that your closing needs to be postponed into December. My suggestion is to take advantage of the existing homes inventory and get a home under contract today! Remember, you are in a great position because you do not have to sell a home to buy your next one. This is very attractive to a home seller who is looking to take advantage of the lower prices of the home they'd like to buy. If you would like to talk more about buying and the tax credit being offered, call or e-mail me. 856-466-2502 / wnelson@cbelitenj.com. Thanks! Bill Nelson
REALTOR, Real Estate Investor, SRES, CNS
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I had an interesting open house recently and had the chance to talk with a well respected real estate broker from our area. Although he was not interested in the Open House property, he did give me a few suggestions on how a First Time Home Buyer (FTHB) can use the credit to get into a home. We talked about a few things that you might be interested in trying to help you afford the home you really want. Assuming you have some or all of the $8,000 in advance or a way to get the money in advance, try doing the following: 1) Payoff small balances - If you have less than a year left on your car loan or student loan, pay if off. This will increase your home purchasing power and eliminate the debt after you close on your home. Depending upon your credit and income/debt ratios, reducing your monthly bills by $350 per month (average car payment) can add a thousands to your purchasing power (around $58,000 at 6%!). 2) Payoff credit card balances - Although many people owe more than $8,000 on credit cards, not all of the balance is often found on one card. Look at your statements to find out which cards can be paid off with the least amount of money. Look at the "retail cards" like your Kohl's charge, Sears charge, Home Depot Card, etc. If the balances are low enough to pay off, do it! These cards usually carry the highest interest rates possible and entice you to spend more, so when you do pay them off, CUT THEM UP AND CLOSE THE ACCOUNT!!! Closing the account is one of the best ways to ensure you don't run up a balance again. Every $1,000 you owe can reduce the amount of home you can afford per month by $6.00. Doing this with the $8,000 tax credit could allow you to add $48 to your monthly payment which could be the difference between a 2 or a 3 bedroom home. 3) $8,000 can cover, in some cases, all of your closing costs and down payment. The problem is that you can't borrow money for your down payment, but it is legal for someone to give you a gift to buy a home. Your lender will ask for a gift letter to show the source of the money. Keep in mind that you can file an ammended return for this tax year to get the tax credit now rather than next year. So, you get a gift from a relative to buy the home, file to get your tax credit, and give a "generous gift" to say thank you to your generous relative. I keep using the $8,000 figure which is commonly being advertised. The truth is that this is a combined figure for a "couple". Individual first time home buyers could qualify for up to $4,000. There is also a deadline of December 1st, 2009 to settle on your new home, so don't delay in buying it! You might qualify for this even if you have owned a home in the past. The definition of a first time home buyer is someone who buys a home who has not owned a home in the past three years. I also encourage you to talk with a tax professional or accountant for more information for your situation. If you would like more information or would like to start your home search, let me know and I'll put my team to work for you! Bill Nelson can be reached by phone, 856-466-2502, e-mail, wnelson@cbelitenj.com, or online by visiting www.billnelsonrealtor.com.
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This is a great established area that adjoins a newer community. The home would be a perfect opportunity for the first time home buyer or a buyer looking to downsize. First time home buyers can qualify for the $8,000 tax credit, which should reimburse you for your down payment and some closing costs with an FHA loan. It features hardwood floors, full basement, detached garage, and a nice sized back yard. I'll see you on Sunday! If you would like to tour it sooner, let me know by calling me, 856-466-2502 or sending me an e-mail, wnelson@cbelitenj.com. 140baldwinrd.billnelsonrealtor.com
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Rolling Green, Glassboro - We invite everyone to visit our open house at 140 Baldwin Rd on April 5 from 1:00 PM to 3:00 PM. Property information
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Why continue to lose money in your IRA? Take control and open a self directed ROTH IRA and buy real estate for retirement. This is a great concept that most "finanacial advisors" shy away from because they don't know much about it and those who do, realize that they will not make any money helping you open it. You can own stocks, mutuals, bonds, and many more items like a traditional IRA or ROTH IRA, but the Self Directed IRA lets you do so much more like acquiring real estate, lending money, and retiring with a lot more money independant upon the knowledge and direction of the "financial gurus" that currently run many of the funds available through traditional outlets. I encourage you to check out a few of the companies that offer this which are easily found through a google or yahoo search for "Self Directed IRA". Remember, its not so much about what you make, but how much you keep.
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Note that this information is outdated. I have had an overwhelming number of requests for rentals. This would be a great time to get into real estate investing to fill the need for rentals. Interested? Call me for a one-on-one to learn more about being a landlord and the benefits of owning investment real estate. 856-466-2502 / wnelson@cbelitenj.com
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One of the things I enjoy about real estate is taking a neighborhood eyesore and turning it into the best home on the block. This encourages neighbors to invest in their homes and overall benefits the community by reestablishing pride. In the past, I have swung the hammer and have learned a great deal about fixing homes. The skills learned have included re-leveling floors, installing tubs and surrounds, replacing siding, installing windows and more. Every home added to my confidence and has made me want to become a "residential redeveloper". I have, however, realized that if I am to become a residential redeveloper, I must draw from my experiences and learn that I cannot do everything. This means hiring contractors to work for me so I can work on finding the next deal. My property on Wilson will be the first property that I plan to hire a contractor to do the work for me. So far, I have laid out a plan to get the home remodeled including consulting an architect, developing a materials list with local suppliers, contacting the local municipality for permit information, and offering the job for contractors to bid. So far, I've hired the architect and have received a preliminary floor plan that looks great. The home will be 80% new as it will be taken down to the studs, walls moved or removed, bathroom added, and a complete relocation of the existing kitchen. The exterior will be new with vinyl siding and windows as well as a new roof. My goal is to deliver a turn key home for a new owner occupant to enjoy trouble free for years to come. I plan to keep you posted on the progress and who knows, you might be interested in calling it home. If you let me know soon, you can pick your colors, cabinets, and finishing touches.
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