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)


Posted at 08:38 PM in Atlantic county,NJ, Current Affairs, 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, Real Estate#1 expert site, Somers Point,NJ real estate, Ventnor,NJ real estate, waterfront properties for sale in NJ | Permalink
NEW YORK (CNNMoney.com) -- The Federal Reserve said Wednesday it sees further signs of improvement in the U.S. economy, but not enough to start raising its key interest rate from near 0% anytime soon.
The Fed's statement Wednesday once again spoke of a U.S. economy now in recovery, stating that "economic activity has continued to strengthen and that the labor market is beginning to improve."
But the central bank made little change in its language used to describe the outlook for its policy, saying it expects that economic conditions will "warrant exceptionally low levels of the federal funds rate for an extended period," as it has at every meeting since June of last year.
The fed funds rate, the central bank's key overnight lending rate, is a benchmark used to set interest rates on a wide variety of consumer and business lending.
In December 2008, the Fed cut the rate to near 0% in an effort to spur economic activity, and has left it there ever since.
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| Light data flows in the week ahead provide mostly second-tier indicators with the exception of retail sales for January, due out on Thursday. With consumer spending accounting for two-thirds of all economic activity, retail sales are always on the radar. Other than that, the markets will have a chance to absorb the chronically sluggish employment data while the Treasury auctions another $81 billion in short and long term notes and bonds. | ||||||||||||||||||||||||||||||||||||||||||||||||
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Posted at 12:40 AM in Atlantic City,NJ Real Estate, Atlantic County,NJ real estate, Galloway Township, NJ, GarySimmens.com-real estate, Linwood,NJ real estate, Longport,NJ real estate, Mays Landing,NJ real estate, Northfield,NJ-real esate, Real Estate#1 expert site, Television, Travel, waterfront properties for sale in NJ, Weblogs | Permalink | Comments (0) | TrackBack (0)
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The springtime spurt in home buying may hit before the snow melts this year as buyers scramble to meet an April 30 tax credit deadline.
The number of people who worked at home increased by nearly 2 million, from about 9.5 million in 1999 to about 11.3 million in 2005, according to new data released by the U.S. Census Bureau. Nearly half of these home workers had college degrees and nearly half of them earned $75,000 a year or more.
If you haven't looked into refinancing your mortgage under federal programs, you could be missing an opportunity to save money, keep your home and give the economy a little juice. | Gary Simmens Broker/Associate 609-645-0202 Gwhatshisname@aol.com http://www.GarySimmens.com |
Gary Simmens Team at Balsley/Losco Real Estate 609-645-0202 PO BOX 892 Northfield, NJ 08225 |
Posted at 09:32 PM in Atlantic county,NJ, Atlantic County,NJ real estate, Egg Harbor Township,NJ real estate, Galloway Township, NJ, Longport,NJ real estate, Mays Landing,NJ real estate, Northfield,NJ-real esate, Ocean City,NJ real estate, real estate in New Jersey, Real Estate#1 expert site, Weblogs | Permalink | Comments (0) | TrackBack (0)
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| Robust Q4 growth is not expected to continue in the current quarter. Data in the coming week will provide the first look at the economy's footing in the New Year. The employment report for January, due out on Friday, highlights on the economic calendar. | ||||||||||||||||||||||||||||||||||||||||||||||||
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Posted at 09:50 AM in Atlantic City,NJ Real Estate, Atlantic county,NJ, Brigantine,NJ Real Estate, Egg Harbor Township,NJ real estate, Galloway Township, NJ, 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, Real Estate#1 expert site, Somers Point,NJ real estate, Ventnor,NJ real estate, waterfront properties for sale in NJ, Web/Tech, Weblogs | Permalink | Comments (0)
If You’re Going to Buy a House, Do it Now By Martin Hutchinson
Contributing Editor
Money Morning
It looks like the U.S. housing sector has bottomed. In fact, if you’ve been thinking about buying a house, this may be the time to make your move.
Let me tell you why.
Congress and the Obama administration are considering whether to extend the $8,000 first-time-buyer tax credit for another year from Nov. 30, when it expires. With cheap money, housing may show strength in the short term, just as we’ve seen with other assets. But there is the potential for a market hiccup next year or in 2011.
When the National Association of Homebuilders released its NAHB Index for October last week, it showed a drop of one point in homebuilders’ view of the market, from 19 to 18.
The good news: The index is at double its level from last spring – when it bottomed out at nine – meaning homebuilders see an improving market.
The bad news: The index is based so that a reading of 50 is the “neutral market” view. That means there’s a long way to go, yet.
But even if Congress doesn’t opt to extend the $8,000 tax credit, 30-year mortgage rates are still down around 5.1% – close to their all-time low. But rates probably won’t remain that low for long: Building inflationary pressures and the huge U.S. budget deficit will combine to push interest rates higher.
In other words, even if housing prices are destined to drop by another 10% (except in the very worst areas, I wouldn’t expect you’d see anymore than that), you still may end up saving so much on financing costs by borrowing now that you’d be mad to wait any longer.
Housing arithmetic is always complicated but one thing I do know: 7% of $90,000 is more than 5.1% of $100,000!
The S&P/Case-Shiller composite home price index bounced nicely in July, with the 20-city index rising 1.5%, after a 1.3% jump the previous month. That’s a pretty good indication that the markets have bottomed out.
What’s more, the $8,000 credit for first-time buyers was still in force for August and September transactions (you need to close to get the credit, so deals done before Sept. 30 should squeeze under the wire). Since interest rates remained low for those months, it’s likely we’ll see further price rises then, too.
That would mirror the market in Britain, where housing prices bottomed out last spring and have risen for the six months since. Indeed, the market in London for houses priced above 5 million pounds (about $7.5 million) is apparently exceptionally strong, because of the likely level of Goldman Sachs Group Inc. (NYSE: GS) bonuses!
For those of us who aren’t about to receive a Goldman Sachs bonus, or buy a house priced above $7.5 million, the short-term outlook is still pretty good. U.S. gross domestic product (GDP) almost certainly rose during the third quarter – probably by about 3% – and is expected to rise again in the fourth quarter.
That should translate into an abatement of the flood of job losses – perhaps from the 250,000-per-month rate of the last few months to around 100,000 per month. That’s still bad, but is indicative of a recovery ahead. At that point, the outlook for the housing market will depend on what region you live in.
In Florida, California and Nevada – where prices have dropped more than 40% – there may still be a large number of foreclosures and unoccupied new buildings left over from the bubble. In those markets, therefore, the excess supply may take time to absorb.
Similarly, even with the government bailout of the automobile industry, I probably wouldn’t invest heavily in Detroit, even though prices there are lower than they were in 1995. However, in such cities as Atlanta and Dallas, prices did not rise too much in the bubble – and haven’t dropped all that much since – so the market should rest on a firm foundation and we can expect it to advance.
Beyond 2009, the prognostication is still murky. On the one hand, even a slow economic recovery should induce consumers to more seriously consider home purchases. And with inflation apparently on the upswing, the prices of those houses can be expected to increase, as well.
On the other hand, if inflation really gets a grip, the U.S. Federal Reserve will have no alternative but to raise interest rates. Housing is the most-interest-rate sensitive sector of consumer spending. So if rates rise sharply, the housing market will inevitably suffer.
As for the $8,000 credit for first-time homebuyers, it doesn’t really matter. It’s like the “Cash-for-Clunkers” program. If Congress extends it, it will prop up the housing market a bit. But if Congress doesn’t, there will be no disaster – the market will simply fall back for a few months until demand catches up with supply.
It makes only a modest short-term difference in activity, and probably only a 1% to 2% difference in the level of housing prices.
If you’ve got the money, go buy a house. You won’t find a better time to strike.
Posted at 08:08 AM in 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, Real Estate#1 expert site, Ventnor,NJ real estate, waterfront properties for sale in NJ, Weblogs | Permalink | Comments (0) | TrackBack (0)
Volume 15, Number 40 Economic Highlights for the Week Ending October 23, 2009
MONDAY, October 19th
The NAHB housing market index tumbled one point in October to a score of 18 from a reading of 19 in September. Builders lowered ratings of present sales and projected home sales six months from now while foot traffic through model homes decreased. Despite the decline and lowered ratings this month, homebuilder sentiment remains 28.6% higher than in October one year ago. Builder sentiment, like the housing sector itself is recovering slowly and somewhat unevenly. Looking ahead, the outlook for homebuilding is mildly positive.
TUESDAY, October 20th
The producer price index fell 0.6% in September compared to market expectation for no change. The decline was predicated on a 2.4% drop in energy prices during the month; excluding food and energy prices from the index the core PPI fell just 0.1%. Over the past year, headline producer prices fell 4.7% while core producer prices gained 1.8%. Energy prices fell 22.2% over the past year but have gained at a 12.0% rate in the last three months which should result in some firming in the headline number.
Housing starts rose 0.5% in September to an annualized pace of 590,000 following a downwardly revised rate of 587,000 in August. New construction starts have risen from a record low rate of 479,000 in April and leveled out at a moderate pace in the last several months. Gains in the single-family sector have been driving gains in overall housing starts this year. A drop in permit issuance could mean that recent new construction gains may moderate in the fourth quarter.
WEDNESDAY, October 21st
The MBA mortgage applications index fell 13.7% to 641.0% for the week ending October 16. This follows a small decline in the previous week. Despite back-to-back declines, the short-term trend is higher. Mortgage application activity is 57.1% above its year ago level. The purchase index was down 7.6% on the week and 3.8% below its level last year; the refinance index dropped 16.8% on the week but was up an astounding 142.3% from its level one year ago. Refinance applications accounted for 65% of total application volumes.
The Fed's beige book was more upbeat this time than previously with every district reporting improved or stabilized economic conditions. The report was prepared for the November 3-4 FOMC meeting and covers the time period between late September and mid-October. Weakness in the economy remains, especially in the commercial real estate market, but manufacturing and residential real estate seem to be faring better.
THURSDAY, October 22nd
Jobless claims rose 11k to 531k for the week ending October 17. This week's moderate gain in the number of initial claims does not reverse the very gradual and irregular improvement in labor market conditions. Continuing claims dropped 98k to 5.923 million for the week ending October 10 reflecting the ongoing exhaustion of benefits for many unemployed.
FRIDAY, October 23rd
Existing home sales surged 9.4% in September to an annual rate of 5.57 million as evidence of recovery in the housing sector continues to manifest. It was estimated that about 29% were distressed sales and 45% were first time home buyers taking advantage of the federal tax credit program. We could see a retreat in sales when the tax credit ends December 1. The fundamentals look good for continued recovery as job losses slow and low prices and low mortgage interest rates increase affordability.
Stock Market Close for the Week
Index Latest A Week Ago Change
DJIA 9972.18 9995.91 -23.73 or -0.24%
NASDAQ 2154.47 2156.80 -2.33 or -0.11%
WEEK IN ADVANCE
We will get the first look at third quarter GDP in the coming week and could possibly see a positive growth rate for the first time since the recession started at the end of 2007. Economists are forecasting a growth rate of 3.2% in the advance estimate for 3Q GDP.
Key Interest Rates Latest 6 Mos Ago 1 Yr Ago
Prime Rate 3.25 3.25 4.50
Fed Discount 0.50 0.50 1.75
Fed Funds 0.10 0.14 0.69
11th District COF 1.412 2.003 2.693
10-Year Note 3.49 2.96 3.74
30-Year Treasury Bond 4.29 3.79 4.13
30-Yr Fixed (FHLMC) 5.00 4.80 6.04
15-Yr Fixed (FHLMC) 4.43 4.48 5.72
1-Yr Adj (FHLMC) 4.54 4.82 5.23
6-Mo Libor (FNMA) 0.62875 1.73563 3.98125
Sources: IBC' s Money Fund Report; Bank Rate Monitor; Federal Home Loan Bank of San Francisco
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Upward pressure on interest rates
Downward pressure on interest rates
No pressure to change interest rates
News worthy
Posted at 07:37 PM in Atlantic City,NJ Real Estate, Atlantic county,NJ, Mays Landing,NJ real estate, Real Estate#1 expert site, Weblogs | Permalink | Comments (0) | TrackBack (0)
HAMILTON TOWNSHIP SOLD FROM JULY 1, 2009 TO SEPTEMBER 30, 2009
ADDRESS- ASKING PRICE- SOLD PRICE -BEDROOMS -BATHS
34 Abington $319,900 $311,500 4 2.5
901 Bainbridge $216,000 $206,000 3 2
6354 Benson $99,750 $85,000 3 1
6358 Benson $126,900 $133,000 3 1
5913 Berry $109,500 $125,000 3 1
4969 Cardiff $154,000 $125,000 4 2.5
5915 Cedarcroft $194,900 $192,500 3 1
98 Charleston $259,900 $260,000 4 2.5
14 Croyden $279,900 $250,000 4 2.5
1800 Drake $148,500 $150,000 3 2
6185 Falcon Run $210,000 $207,500 3 2.5
473 Franklin $329,900 $320,000 4 3
7006 Fulton $150,000 $150,000 3 1
2049 Garden $200,000 $193,000 3 2
30 Golf $225,000 $215,000 3 2
6307 Harding $165,000 $165,000 3 2
6995 Harding $169,900 $155,000 2 1
10 Homewood $400,000 $350,000 5 4.5
6034 Hoover $74,900 $560,000 3 2.5
7708 Jackson $148,800 $148,800 4 2.5
70 Knollwood $149,900 $146,900 2 2
6301 Liberty $175,000 $150,000 3 1
6320 Liberty $134,900 $125,000 2 1
1103 Loretto $140,000 $145,000 3 1
135Marlin $229,500 $219,500 2 2
4 Monet $319,900 $299,900 5 2.5
6361Monmouth $142,500 $142,500 2 1
1016 Morningside $250,000 $230,000 3 2
6302 Nelson $129,900 $132,554 3 1
6315 Nelson $135,000 $134,000 3 1
6204 Ninth $199,900 $196,000 3 2
4946 Ocean Heights $234,900 $220,000 3 2
179 Pebble Beach $174,900 $158,500 3 2
128 Pine Knoll $189,000 $180,000 3 2.5
5835 Pine $259,900 $259,900 3 2
5928 Pittsburgh $177,795 $150,000 4 1
31 Princeton $259,900 $259,900 5 3.5
242 Regents $194,900 $194,600 3 1.5
2650 Route 50 $299,900 $290,000 4 2
6054 Sharon $254,900 $259,900 3 2
6898 Strand $173,000 $172,000 3 1.5
7630 Strand $199,900 $195,000 4 2
1441 Strawberry $244,900 $237,000 3 2
5736 Third $200,000 $128,000 3 1
155 Treyns $225,000 $207,000 3 2.2
208 Tryens $194,900 $195,000 4 2.2
36 Westover $219,900 $212,000 3 2.5
6878 Weymouth $219,000 $195,000 3 1.5
616 Whispering Woods $379,900 $358,000 4 3
612 Whispering Woods $359,900 $330,000 4 2.5
2010 Winding Way $274,900 $247,500 4 1.5
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 in whole 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
Bold properties are the transactions my company was directly involved in procuring. The Realtor sponsorin 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 on the bold properties.