Happy New Year!
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Committed to Your Success,
Gary D Simmens Broker/Associate
Balsley/Losco Real Estate
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Committed to Your Success,
Gary D Simmens Broker/Associate
Balsley/Losco Real Estate
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Posted at 11:39 AM in Atlantic City,NJ Real Estate, Current Affairs, Egg Harbor Township,NJ real estate, GarySimmens.com-real estate, Hamilton Township,NJ real estate, Linwood,NJ real estate, Longport,NJ real estate, Mays Landing,NJ real estate, Music, Ocean City,NJ real estate, Sports, Travel | Permalink | Comments (0) | TrackBack (0)
Wish to thank all my clients, friends, my super co-workers, you are all so awesome!-Everyone rocks! My heartfelt thanks for helping me accomplish my 34th year in the real estate business. I am not that old now ! :) --Remember I have been licensed to sell real estate since 18 years young, and a broker since 23 years old, I have worked through 4 recessions now, our office is still leading the way, with the super help from my co workers and good client cooperation, we found ways to make people happy and get the job done right. -THANK YOU- I appreciate your business and timely thoughtful buyer and seller referrals.
Just have to mention, super time to be a Philadelphia sports fan now--The Eagles, Flyers playing in top form and how bout those Fabulous Phillies getting pitcher Cliff Lee back!-Awesome early holiday gift for us Phillies fans. Heck- even the 76ers tonight, almost just beat the NBA leading Boston Celtics with their new improved defense of late. They may not make the playoffs like the other Philly teams but they are quickly getting more respectable each week.
Hope everyone`s holiday season is filled with alot of love and happiness that bring alot of fond memories for you and your family. May you have a super 2011, The south Jersey shore area, Atlantic and Cape May counties should show improvement in sales, with an overall slow improving economy. Be safe and keep warm--it`s cold out there!--But remember it`s usually the best time- right now-to get that timely great bargain--smart investment you always wanted. Low bargain interest rates and low prices can`t last like this perfect buying storm forever now. Here to help! In Appreciation--My Best Gary Simmens
Posted at 10:49 PM in Atlantic City,NJ Real Estate, Atlantic county,NJ, Brigantine,NJ Real Estate, Current Affairs, Egg Harbor Township,NJ real estate, Galloway Township, NJ, GarySimmens.com-real estate, Hamilton Township,NJ real estate, Linwood,NJ real estate, Longport,NJ real estate, Mays Landing,NJ real estate, Northfield,NJ-real esate, Ocean City,NJ real estate, real estate in New Jersey, Somers Point,NJ real estate, Sports, Ventnor,NJ real estate, waterfront properties for sale in NJ, Web/Tech, Weblogs | Permalink | Comments (0)
Why Condo Owners Need Insurance
If you own a condominium, you may think you don’t need insurance protection. Think again. Although your condominium association offers a “master” insurance policy that covers the building and commonly owned property, this insurance probably does not protect your upgrades, furnishings and other belongings.
That means if a burglar breaks into your condo, a fire causes smoke damage to interior walls of your unit or a visitor falls and hurts himself inside your home, you will not be covered by your condominium’s general insurance policy. This is exactly why you need your own condo owner’s policy. This personal coverage could protect you in the event of theft, damage and personal liability situations.
Every condo is different
Before you purchase condo insurance, you should find out exactly what is covered by your condominium association’s master policy. Generally, these policies cover only the structure of the building, but it varies depending on your state and particular condominium. It’s important to do your homework and find out exactly what is and is not covered so you can make sure your personal policy covers the rest.
What kind of coverage do you need?
The type of coverage you need greatly depends on your unique situation. However, you’ll definitely want to protect yourself against theft, damage and personal liability incidents. Depending on where you live, you may also need flood insurance or other special coverage.
A professional insurance agent can help you figure out exactly what kind of coverage you need. You may want to ask yourself the following questions as you decide on the details of your insurance policy:
You should also think about liability coverage. Unfortunately, we live in a lawsuit-happy society today. So, if a visitor falls down your stairs and breaks his leg or slips on some water in the kitchen and throws out her back, they may ask you to pay for medical expenses, lawsuit costs and other compensation awards. That’s why it’s so important to make sure your insurance policy includes liability protection.
Don’t skimp
Whatever you do, don’t assume that your condo association has you covered. This assumption could cost you thousands of dollars in the long run. Do some research and find out exactly what kind of protection your association’s insurance policy provides. You’ll probably discover that it’s not nearly enough to protect your personal property and belongings.
An expert insurance agent can help you determine exactly what kind of coverage you need. She may be able to offer you special discounts if your condo has smoke detectors and central station burglar and fire alarms. You could also save by purchasing a home and auto insurance package through the same insurer.
Posted at 07:49 AM in Atlantic City,NJ Real Estate, Atlantic county,NJ, Current Affairs, GarySimmens.com-real estate, real estate in New Jersey | Permalink | Comments (0)
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By Realty Times Staff |
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| Do you have too much to store and too little space? If you're like many homeowners, finding enough storage space can be a challenge. Thankfully, remodeling professionals can help you create new ways to tuck away your family's treasures in a resourceful and sophisticated way, according to the National Association of the Remodeling Industry (NARI). Finding storage solutions doesn't always mean undertaking a major remodel. Sometimes it's about using the square footage you already have. Remodelers can help you plan and reallocate storage to accommodate your family's changing lifestyle. Getting creative with storage can improve daily living and boost the resale value of your home. For his stair solution, Van Cura created storage bins under the wooden treads of a staircase. He did this by attaching each tread of the staircase to the frame using hidden piano hinges, which allow each tread to open like a storage chest. The homeowner could then use the space under the tread to tuck away dry goods and cans. This storage strategy can be used in many areas of a home. In the foyer, for example, the hidden cubbies under stairs can stash shoes and outdoor gear. In the basement they store cleaning products or seasonal accessories. For a short run of stairs, remodelers can also install a set of custom drawers underneath the stairwell with access from the either the side or the back -- another great use of space. Any good stair installer or skilled remodeler should be able to do this project, but it demands a structurally sound staircase, fine cabinetry skills and careful preparation. "It's easiest if you're planning a new set of stairs, but it can also be done as a retrofit to existing stairs," Van Cura notes. |
Wis. recently created more storage for a family of six by reconfiguring two existing rooms and adding some square footage. The family's mudroom was once a cramped hallway that led from the house to the garage. "Not having a place to put on and take off their shoes was their biggest pet peeve," Szpek said. As a solution, he designed two furniture-style storage units that provide both seating and a place to store outdoor gear. On one side of the room, a large boot-bench and locker cabinet gives the kids a place to sit down or hang up coats. The bench features storage beneath the seat and wicker baskets on a shelf above the hanging area. Drawer cabinets also flank each side of the bench, creating a personal spot for each child to stash hats, gloves and mittens. Across the room Szpek planned a shorter boot bench for mom and dad that offered flip-top storage under the seat and hooks to hang coats behind them. Both storage pieces were accented with traditional beadboard backing, crown molding and a medium-brown distressed birch finish. In the family's 120-square-foot laundry room, Szpek created a beautiful and storage-smart workspace. Upper and lower cabinetry provides plenty of storage for detergents, brushes and sponges, and a long countertop gives mom ample space to fold clean laundry. Under one area of the counter, Szpek designed cubbies that accommodate six laundry baskets -- one for each member of the family. "When mom's done folding clothes, she can separate the loads into a separate bin for each member," he says. "The abundance of storage space worked great for this family of six." |
Posted at 04:52 PM in Atlantic City,NJ Real Estate, Atlantic county,NJ, Current Affairs | Permalink | Comments (0)
Courtesy Prss of Atlantic City
Gov. Chris Christie unveiled minutes ago the first specific details of
how Atlantic City's casino and tourism district may come under state
control.
Click here to read the full report.
Standing at the New Meadowlands Stadium, on the 50-yard line, Christie held up the finished report by his advisory commission on gaming, sports and entertainment, which contains recommendations on making the three industries solvent. Christie said the report, showed "breadth, depth and boldness."
Christie is appearing at 2 p.m. in Atlantic City for a second press conference.
His historic announcement aims to strip away decades of regulation
surrounding the casinos, hoping to copy the gambling rules in Nevada.
To prioritize using casino tax revenue to fund Atlantic City's
blighted areas, the report says the city.
But Atlantic city and state officials have naturally focused most on
the governor's plan to create a state-run portion of Atlantic City, in
a plan already described as a city within a city.
Christie said he could no longer watch the "teetering" of Atlantic
City's institutions.
He said he gave "fair warning" to Atlantic City's government to fix
problems pointed out in a recent state audit or face state takeover.
He said he wanted to see the state run a clean and safe tourism
district there within a year.
"Delay leads to demise," he said.
Gaming enforcement would be streamlined, he said. He described the current system as an antique car."
On Xanadu, he said, "Make it work or tear it down."
The report's key recommendations are:
On Atlantic City, the report's recommendations are:
To fund the changes, the report recommends:
The Associated Press contributed to this report.
Posted at 11:31 AM in Atlantic City,NJ Real Estate, Atlantic county,NJ, Current Affairs | Permalink | Comments (0)
Technorati Tags: atlantic city, atlantic city state plan, nj, nj gov christie
by Danielle Hale and Selma Lewis, Research Economists
While only about one percent of recent home buyers cite the tax benefits of ownership as a primary reason for purchasing a home, a significant share of home buyers do actually take advantage of the mortgage interest deduction. According to recently released IRS tax data for 2008 by state, about 26.8 percent, or a little over a quarter of individual income tax filers claimed a mortgage interest deduction (MID) in 2008.
While the homeownership rate in the U.S. is significantly higher (the latest figure for the first quarter of 2010 is 67.1 percent) the difference in the two rates is due in part to the fact that many homeowners do not claim the deduction. This could be for various reasons. Homeowners may choose not to itemize deductions on their tax returns if the interest deduction is not larger than the standard deduction they can claim instead. Sometimes, however, homeowners have paid off their mortgages and have no more interest payments to deduct; NAR research estimates that 32 percent of homeowners own their homes without debt.
On average, among all tax returns, including those for non-homeowners and those who do not deduct mortgage interest, each tax filer deducted $3,279 in mortgage interest. Counting only the tax returns that deducted mortgage interest, the average amount deducted was $12,221.
Not surprisingly, the share of taxpayers who claim the mortgage interest deduction (MID), and the average amount of that deduction, varies by state. In 2008, Maryland had the highest percentage of tax returns claiming the MID, 37.9 percent, but it ranked fifth in the average dollar amount claimed.* The average Maryland tax return claimed $14,162 in mortgage interest. The state also ranked second for the average deduction among all tax returns, $5,372. It is worth noting, that among all states Maryland has the highest share of tax filers who itemize deductions, 49.3 percent. In the US generally, only 34.2 percent of tax filers itemize deductions.
In California, on the other hand, a smaller share of tax filers claimed the mortgage interest deduction, 29 percent, but the average deduction per claimant was the highest in the country, $18,876. California also ranked the highest in average deduction among all tax filers, and due in part to its large population, had the greatest number of tax filers.
In addition to Maryland, Connecticut, Colorado, Minnesota and Virginia, also had very high percentages of tax filers claiming the MID, ranging between 33 percent and 35 percent.
In dollar terms, Hawaii ranked second highest, with mortgage interest deductions averaging $16,730 among claimants, yet only 24 percent of homeowners in Hawaii claimed the MID. Nevada ranked third, averaging $15,502 per mortgage interest deduction. The high ranking of Nevada is likely due to the fact that the state’s fast growth and availability of alternative mortgage products during the housing boom led to many new home owners who deducted substantial amounts of mortgage interest since the interest payment is a high share of the total mortgage payment in the early years of a mortgage. Florida and Arizona are similar cases in which the mortgage interest deduction averaged $13,375 and $13,616, respectively. Notably, the average mortgage interest deduction in 2008 was smaller than the average mortgage interest deduction taken in 2007 in all states except Maine, New Hampshire, Iowa, Alaska, and Montana. The states with the largest decline in the size of the average mortgage interest deduction are Nevada, California, New York, and Florida. The decline in the average MID in Nevada was $2,689.
Although there has not been a large change in the share of filers claiming mortgage interest deduction across the states between 2007 and 2008, there are couple of changes worth noting. Iowa and Michigan
had the largest decreases since 2007, with as much as 3.25 percentage points fewer claimants in Iowa and 1.9 percentage points fewer in Michigan. On the other end, Louisiana and West Virginia had the largest increase in the share of claimants, rising 1.66 and 1.61 points respectively.
Mortgage interest deductions vary from state to state for several main reasons. First, average incomes differ by state. Higher income individuals usually have larger expenses that can be itemized and deducted including state and local income or sales taxes, mortgage interest, real estate taxes, etc. Thus, higher income individuals are more likely to exceed the standard deduction threshold (which is a fixed dollar amount regardless of income) and tend to itemize at higher rates.
Another reason for the difference among states is homeownership rates. Homeownership rates are low in states such as California and New York where rates are 56.5 and 54.4 percent respectively compared to 67.1 percent in the US. One reason for the low homeownership rates may be the high degree of urbanization. Homeownership rates are lower in principal cities, 52.6 percent compare with rates above 70 percent in suburbs and non-metro areas. In New York for example, 43 percent of the state’s population in 2008 was estimated to live in New York City. Low homeownership rates mean high rates of renters who are not eligible to claim a mortgage interest deduction. However, the high cost of homes in cities such as New York mean that those who did claim a mortgage interest deduction in New York, have higher average deduction since homes are more expensive.
Finally, the more recent a home purchase or refinance of a mortgage can also affect the size of the mortgage interest deduction. As in the case of Nevada (see above) and other fast-growing, sun-belt states, new home owners or owners who refinanced can deduct substantial amounts of interest since the interest payment is a high share of the total mortgage payment in the early years of a mortgage.
* This ranking excludes the District of Columbia and the IRS category ‘Other Areas’ which includes returns filed from Army Post Office and Fleet Post Office addresses by members of the armed forces stationed overseas; returns filed by other U.S. citizens abroad; and returns filed by residents of Puerto Rico with income from sources outside Puerto Rico or with income earned as U.S. government employees.
Posted at 12:23 PM in Atlantic City,NJ Real Estate, Current Affairs | Permalink | Comments (0) | TrackBack (0)
Posted at 09:26 AM in Atlantic City,NJ Real Estate, Current Affairs, real estate in New Jersey | Permalink | Comments (1) | TrackBack (0)
The Simmens Report-Update
LINWOOD UNDER CONTRACT FROM APRIL 1, 2010 TO JUNE 30, 2010
ADDRESS ASKING PRICE BEDROOMS BATHS
110 Cambridge $299,000 4 2.5
115 W. Devonshire $279,900 2 1
530 Ocean Heights $178,700 3 2.5
11 Ocean Heights $169,000 3 1.5
500 Pierce $199,900 4 3.5
215 Seaview $325,000 3 1.5
307 Shore $150,000 4 2
Please disregard if your property is listed with another broker. This information is complied from the SJSRMLS system for the past 90 days. This information is based inwhole or in part on data supplied by our SJSRMLS system. That system does not guarantee accuracy for the information supplied. Data maintained by SJSRMLS may not reflect all real estate activity in the market.
THE SIMMENS REPORT
Highlighted properties are transactions that our company participated. The Realtor sponsoring this community information service ad is not making any representation that they were involved in any other particular transaction whatsoever as printed in this report except for the highlighted properties.
LINWOOD SOLD FROM APRIL 1, 2010 TO JUNE 30, 2010
ADDRESS ASKING PRICE SOLD PRICE BEDROOMS BATHS
17 Berkley $479,000 $455,000 4 2.5
105 Berkshire $729,000 $670,000 4 2.5
947 Bryant $418,000 $390,000 4 2
959 Bryant $314,900 $305,000 3 2
6 Crestwood $469,000 $470.000 5 2.2
2 Crestwood $360,000 $360,000 4 2.5
20 Crossing $375,000 $370,000 4 2.5
1 Davis $150,000 $135,000 2 1
1720 Dianne $469,000 $430,000 3 3
11 Frances $219,500 $187,500 3 1
1421 Grant $439,900 $439,900 4 2.5
17 Hamilton $449,900 $445,000 4 2.5
306 Joseph $219,900 $214,500 3 1
302 Lincoln $247,500 $217,500 3 1.5
1 Mill $749,000 $671,000 6 4.5
303 Poplar $134,900 $130,000 3 2
200 Schoolhouse $439,000 $400,000 2 3
216 Schoolhouse $389,900 $360,000 3 2.5
113 Seaview $205,900 $209,900 3 1
219 Tabor $569,000 $525,000 4 2.5
2109 Wabash $246,000 $245,000 3 1.5
110 Warren $275,000 $270,000 3 2
2021 West $350,000 $300,000 3 1
224 Wilson $875,000 $783,000 4 3.5
503 Wilson $315,000 $300,000 4 2
1200 Woodlynne $475,000 $458,500 6 3
Properties in BOLD PRINT are Sold by our Office -Balsley/Losc.
Posted at 09:43 AM in Atlantic City,NJ Real Estate, Linwood,NJ real estate | Permalink | Comments (0)
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Some think that lenders average everyone's credit scores together. If Jane has an 800 credit score and John has a 400 credit, score, their combined score would be 800 + 400 = 1200 divided by two, giving a not-so-terrible-after-all score of 600. Okay, close to terrible but nothing near 400.
Markets operate on the basis of supply and demand. If you have a local market where the supply of homes is significantly greater than demand, you will have a market where home sales slow, prices stall or drop, properties are more affordable and purchasers are typically able to negotiate significant concessions from sellers.
Insurance is usually the last thing people worry about when they are buying a new home. According to the Insurance Information Institute, that's a mistake, because it will be an expense a buyer will have as long as they own the property. Posted at 02:24 PM in Atlantic City,NJ Real Estate, Atlantic county,NJ, Atlantic County,NJ real estate | Permalink | Comments (0)
Creating an outdoor living space beyond the four walls of your home is gaining ground as one of the most popular home improvement projects of all. Whether your outdoor room will be a brick paving patio or a wood or composite deck, creating an outdoor room is the least expensive way to extend your living space.
Not only does building a new deck or patio create new space for recreation and relaxation, the return on your investment is also significant. According to one report, installing a deck will give you a 76.8% return on investment when it comes time to sell your home. Patios aren't rated in the findings, but I'd expect the results to be similar. Whatever outdoor living space you decide to build, you will be increasing the value of your home.
All it takes to build your own wood deck or brick paver patio is an evaluation of the space you have, proper selection of materials, and basic construction knowledge. Consider the following elements for an outdoor room with quality from the ground up.
Paver Brick Patios: In the realm of DIY patio possibilities, brick, natural stone and cement pavers are the main paving choices in materials. All three varieties are installed in sand, with irregularly shaped natural stone being the biggest challenge to work with, as it's like assembling a giant outdoor jigsaw puzzle. Start your patio project by carefully assessing the space slated for placement and planning for necessary drainage. Then take time to properly excavate, level and line the patio area for long lasting, trip proof results. The most common paver patio mistakes come from not properly prepping the base. Don't rush through the patio brick installation, or the bricks will loosen and weeds will form just as quick!
Durable Decks - The costs and looks of decks can vary widely due to the many choices of materials available. Wood decks are the least expensive, but can be troublesome to maintain, so if your budget is healthy, and tolerance for maintenance low, you might like to consider composite decking, a high tech alternative. One of the most popular composite decking products is Fiberon Decking, a well made and durable composite decking product that is as tough as it is beautiful.
Whatever the decking surface and railing material you choose however, pressure treated lumber is generally the standard for construction of the floor framing and support structure of your deck.
Deck Construction Options: Once you've made your choice in decking materials, deciding how to fasten the deck board to the frame involves a few trade-offs. If you're working with vinyl or fiberglass-plastic decks, the fasteners are usually a hidden feature not visible to the eye. If you're working with wood, you should think through your options. Nailing may be easy, but even galvanized nails can leave stains and rust bleeds on the wood. Plus, as the wood expands and contracts, nails pull out, resulting in loose boards on your deck that can be unsightly and even dangerous.
For a more permanent deck assembly solution for your outdoor room, select stainless steel screws. Using a power drill with the right tip, stainless steel screws can be driven to just below the deck's surface where they're difficult to spot. And since the screws are stainless, they can't rust and stain the finished surface of the wood.
Also, unlike ground-level brick paving projects, one of the most critical areas of deck building is flashing. Pressure treated lumber can be very corrosive and cause fasteners and key deck hardware to fail. For a safe structure, use a high tech flashing like Vycor® Deck Protector. Made by Grace Construction Products, Vycor prevents corrosion and joist rot caused by water accumulation under deck boards.
Deck Sealing: Even wood that's decay-resistant will warp and split, making the deck uncomfortable for bare feet and possibly unsafe. To minimize movement, make sure the deck is sealed within the first 3 to 6 months after it's been constructed. Using a good quality sealer on your wood deck helps stabilize and protect the wood from the damaging effects of solar radiation as well as moisture.
Deck Cleaning: Annual cleaning of an otherwise tired looking wood deck can do a lot to freshen it up. Mix a simple, effective cleaning solution in a five gallon bucket by combining three quarts of water, one quart of bleach, and a half cup of detergent (make sure the detergent is ammonia-free, as mixing ammonia and bleach can form a dangerous gas). Apply the mixture to the wood deck using a stiff floor brush and let it sit for a few minutes, then rinse thoroughly. When planning this deck cleaning project, schedule your work for the cooler hours of the early morning or late afternoon, as the cleaning solution may dry before it has a chance to work when applied to a hot deck.
Deck and Patio Building Permits: Whether your outdoor room will be created by building a wood deck or patio by yourself or calling in a construction pro for assistance, be sure to get a building permit. If you're planning to sell the home, your local zoning or code enforcement inspector may be contacted for an inspection and you'll want to be sure that you've done everything properly.
Posted at 12:20 AM in Atlantic City,NJ Real Estate, Atlantic county,NJ, Weblogs | Permalink | Comments (0)
Technorati Tags: Atlantic County, brick paver patios, NJ, real estate in NJ, south Jersey, wood decks