South Jersey Real Estate Blog

How To Buy Homeowners Insurance

Thanks to the folks over at Howcast - here is a nice video tutorial of how to buy homeowners insurance.  This should give you a basic overview of what homeowners is and why you need it.

via AgentGenius

2009 South Jersey Restaurant Week

 

I think the banner says it all!  If you live in South Jersey or are visiting this week (maybe looking for a new home) it's Restaurant Week!  If you venture out you're sure to have a great meal at some of South Jersey's finest at a great price!

Head over to SJ Hot Chefs to view the list of participating restaurants and view menu's!

Enjoy!

Got $7.7 Million?

If so, then maybe you're the lucky person who just set a new Philadelphia record for buying the most expensive condo in town!  According the NBCPhiladelphia, the luxury condo on the 46th floor of Two Liberty Place just went for a staggering $7,678,149!

If $7 million is a little out of your reach, then maybe you'd be willing to settle for $3.6 million.  Supposudely this is what Richie Sambora of Bon Jovi paid for his condo on the 52nd floor!

Here is a video about Two Liberty Place...

Will NJ Property Tax Rebate Get Cut?

With Corzine's new budget plan, it's a high probability.  NJ is already known to have some of the highest property taxes anywhere in the nation.  The new budget plan has the intention to eliminate the property tax deduction next year on state income taxes for everyone but seniors.  Property tax rebates would be maintained at current levels for seniors, the disabled and those earning less than $50,000 a year. Households making $50,000 to $75,000 a year would only receive two-thirds of the rebate they received last year.

The following is via NJAR -

NJ REALTORS^®: BUDGET PROPOSAL IS AN ASSAULT ON PROPERTY OWNERS

(Edison, NJ) Responding to Governor Jon Corzine's proposal to eliminate the property tax deduction next year on state income taxes for everyone but seniors, New Jersey Association of REALTORS^® (NJAR^®) Executive Vice President Jarrod C. Grasso, RCE issued the following statement:

"As NJAR^® has said over and over again, the real estate industry is a major economic engine driving our state's economy. Governor Corzine's proposal to eliminate the deduction of property taxes on state tax filings is counterintuitive and ill-advised. At a time when efforts are aimed at revitalizing this crucial industry, the elimination of this important deduction will further slow down New Jersey's economic recovery.

"Tax deductions that residents receive from owning a home are powerful incentives to get people into the housing market. Efforts to do away with incentives such as these send the wrong message about the importance of homeownership and the strength of New Jersey's real estate industry.

"Property taxes continue to have a devastating and long-lasting impact on the real estate industry and residents of the Garden State. In fact, a recent survey commissioned by the NJAR^® Governmental Research Foundation found that 89.7 percent of people believe property taxes to be too high. While NJAR^® understands the budget constraints facing the state, Governor Corzine and the Legislature, as a means of jumpstarting the economy, should be focused on reforming our property tax system. Instead of looking for ways to hike taxes, lawmakers should  reduce taxes and fees on real estate and property owners, including rolling back the realty transfer fee."