Real Estate Information

With Valentine's Day only 3 days away, I thought I would share with you the history. Many of us know it as a day to shower loved ones with chocolate, flowers, and teddy bears but where did it originate? Theholidayspot.com tells the detailed story of St. Valentine's Day, as you will find it below.

Every year, the fourteenth day of the month of February has millions across the world presenting their loved ones with candy, flowers, chocolates and other lovely gifts. In many countries, restaurants and eateries are seen to be filled with couples who are eager to celebrate their relationship and the joy of their togetherness through delicious cuisines. There hardly seems to be a young man or woman who is not keen to make the most of the day.

The reason behind all of this is a kindly cleric named Valentine who died more than a thousand years ago.

It is not exactly known why the 14th of February is known as Valentine's Day or if the noble Valentine really had any relation to this day. The history of Valentine's Day is impossible to be obtained from any archive and the veil of centuries gone by has made the origin behind this day more difficult to trace. It is only some legends that are our source for the history of Valentine's Day.

The modern St. Valentine's Day celebrations are said to have been derived from both ancient Christian and Roman tradition. As per one legend, the holiday has originated from the ancient Roman festival of Lupercalis/Lupercalia, a fertility celebration that used to observed annually on February 15. But the rise of Christianity in Europe saw many pagan holidays being renamed for and dedicated to the early Christian martyrs. Lupercalia was no exception. In 496 AD, Pope Gelasius turned Lupercalia into a Christian feast day and set its observance a day earlier, on February 14. He proclaimed February 14 to be the feast day in honor of Saint Valentine, a Roman martyr who lived in the 3rd century. It is this St. Valentine whom the modern Valentine's Day honors.

According to the Catholic Encyclopedia, there were at least three early Christian saints by the name of Valentine. While one was a priest in Rome, another was a bishop in Terni. Nothing is known about the third St. Valentine except that he met his end in Africa. Surprisingly, all three of them were said to have been martyred on 14th February.

It is clear that Pope Gelasius intended to honor the first of these three aforementioned men. Most scholars believe that this St. Valentine was a priest who lived around 270 AD in Rome and attracted the disfavor of Roman emperor Claudius II who ruled during this time.

The story of St. Valentine has two different versions - the Protestant and the Catholic one. Both versions agree upon Saint Valentine being a bishop who held secret marriage ceremonies of soldiers in opposition to Claudius II who had prohibited marriage for young men and was executed by the latter. During the lifetime of Valentine, the golden era of Roman empire had almost come to an end. Lack of quality administrators led to frequent civil strife. Education declined, taxation increased and trade witnessed a very bad time. The Roman empire faced crisis from all sides, from the Gauls, Slavs, Huns, Turks and Mongolians from Northern Europe and Asia. The empire had grown too large to be shielded from external aggression and internal chaos with existing forces. Naturally, more and more capable men were required to to be recruited as soldiers and officers to protect the nation from takeover. When Claudius became the emperor, he felt that married men were more emotionally attached to their families, and thus, will not make good soldiers. He believed that marriage made the men weak. So he issued an edict forbidding marriage to assure quality soldiers.

The ban on marriage was a great shock for the Romans. But they dared not voice their protest against the mighty emperor. The kindly bishop Valentine also realized the injustice of the decree. He saw the trauma of young lovers who gave up all hopes of being united in marriage. He planned to counter the monarch's orders in secrecy. Whenever lovers thought of marrying, they went to Valentine who met them afterwards in a secret place, and joined them in the sacrament of matrimony. And thus he secretly performed many marriages for young lovers. But such things cannot remain hidden for long. It was only a matter of time before Claudius came to know of this "friend of lovers," and had him arrested.

While awaiting his sentence in prison, Valentine was approached by his jailor, Asterius. It was said that Valentine had some saintly abilities and one of them granted him the power to heal people. Asterius had a blind daughter and knowing of the miraculous powers of Valentine he requested the latter to restore the sight of his blind daughter. The Catholic legend has it that Valentine did this through the vehicle of his strong faith, a phenomenon refuted by the Protestant version which agrees otherwise with the Catholic one. Whatever the fact, it appears that Valentine in some way did succeed to help Asterius' blind daughter.

When Claudius II met Valentine, he was said to have been impressed by the dignity and conviction of the latter. However, Valentine refused to agree with the emperor regarding the ban on marriage. It is also said that the emperor tried to convert Valentine to the Roman gods but was unsuccesful in his efforts. Valentine refused to recognize Roman Gods and even attempted to convert the emperor, knowing the consequences fully. This angered Claudius II who gave the order of execution of Valentine.

Meanwhile, a deep friendship had been formed between Valentine and Asterius' daughter. It caused great grief to the young girl to hear of his friend's imminent death. It is said that just before his execution, Valentine asked for a pen and paper from his jailor, and signed a farewell message to her "From Your Valentine," a phrase that lived ever after. As per another legend, Valentine fell in love with the daughter of his jailer during his imprisonment. However, this legend is not given much importance by historians. The most plausible story surrounding St. Valentine is one not centered on Eros (passionate love) but on agape (Christian love): he was martyred for refusing to renounce his religion. Valentine is believed to have been executed on February 14, 270 AD.

Thus 14th February became a day for all lovers and Valentine became its Patron Saint. It began to be annually observed by young Romans who offered handwritten greetings of affection, known as Valentines, on this day to the women they admired. With the coming of Christianity, the day came to be known as St. Valentine's Day.

But it was only during the 14th century that St. Valentine's Day became definitively associated with love. UCLA medieval scholar Henry Ansgar Kelly, author of "Chaucer and the Cult of Saint Valentine", credits Chaucer as the one who first linked St. Valentine's Day with romance. In medieval France and England it was believed that birds mated on February 14. Hence, Chaucer used the image of birds as the symbol of lovers in poems dedicated to the day. In Chaucer's "The Parliament of Fowls," the royal engagement, the mating season of birds, and St. Valentine's Day are related:

"For this was on St. Valentine's Day, When every fowl cometh there to choose his mate."

By the Middle Ages, Valentine became as popular as to become one of the most popular saints in England and France. Despite attempts by the Christian church to sanctify the holiday, the association of Valentine’s Day with romance and courtship continued through the Middle Ages. The holiday evolved over the centuries. By the 18th century, gift-giving and exchanging hand-made cards on Valentine's Day had become common in England. Hand-made valentine cards made of lace, ribbons, and featuring cupids and hearts began to be created on this day and handed over to the man or woman one loved. This tradition eventually spread to the American colonies. It was not until the 1840s that Valentine's Day greeting cards began to be commercially produced in the U.S. The first American Valentine's Day greeting cards were created by Esther A. Howlanda Mount Holyoke, a graduate and native of Worcester. Mass. Howland, known as the Mother of the Valentine, made elaborate creations with real lace, ribbons and colorful pictures known as "scrap". It was when Howland began Valentine's cards in a large scale that the tradition really caught on in the United States.

Today, Valentine's Day is one of the major holidays in the U.S. and has become a booming commercial success. According to the Greeting Card Association, 25% of all cards sent each year are "valentine"s. The "valentines", as Valentine's Day cards are better known as, are often designed with hearts to symbolize love. The Valentine's Day card spread with Christianity, and is now celebrated all over the world. One of the earliest valentines was sent in 1415 AD by Charles, Duke of Orleans, to his wife during his imprisonment in the Tower of London. The card is now preserved in the British Museum.

There may be doubts regarding the actual identity of Valentine, but we know that he really existed because archaeologists have recently unearthed a Roman catacomb and an ancient church dedicated to a Saint Valentine.

Happy Valentine's Day!

-Orly

North Jersey remains one of the costliest real estate markets in the country, reports www.northjersey.com. Home prices have tumbled as much as 20% but the measure of affordability is not balanced.

The median household has an income of $58,000, which can afford a home priced at $186,600 but the median home price is $319,450. We can clearly see that median income does not equal affording a median home price.

Incomes must rise rapidly or the numbers suggest that home prices may be headed down further. However, we have to keep in mind the area’s proximity to New York City which could boost demand enough to prevent steep additional declines.

While incomes have dropped 18 percent in Passaic over the past decade, the region’s home prices are about 70 percent higher than they were in 2000.
The monthly costs on the median home price take up 43 percent of the typical household income.

Nationally, home prices have already returned to affordable levels, according to the National Association of Realtors, which recently estimated that the median-income household has 184 percent of the income needed to afford the median-priced home at current low mortgage rates.

Sadly enough, North Jersey prices may never return to the affordability levels of even a decade ago.

Certainly, the area's high property taxes are a big part of the reason this area is much less affordable than the rest of the nation, where property taxes are much lower.

Many houses are selling in the $325,000 price range but you have to factor in another $10,000 or more per year just for taxes.

The fact that many would-be buyers are carrying a lot of debt is also a barrier, because lenders have gotten much stricter since the housing boom, demanding that borrowers prove themselves credit-worthy.

Even those who are able to get mortgages often have to make compromises because of the area's high prices - settling for a condo instead of a house or a tiny lot instead of half an acre.

Where do you stand in all of this? I would love to hear your stories and help you out any way I can. North Jersey is beautiful and I want to help anyone who wants to live here find a way!

-Orly

Unemployment, weak demand, and foreclosures are still tampering with the housing market. I found an article on northjersey.com reporting what is going on nationally and locally so we can really see where we stand among the situation.

Home values continue to slide nationally, but up in Bergen, reports northjersey.com. According to the Standard & Poor Case-Shiller Index, home values slid in November. In the New York metropolitan area, which includes North jersey, the value of a single-family home declined 1.7 percent from a year earlier. Nationwide, values declined 1.6 percent. 
The area’s home prices have dropped 21 percent from their peaks in mid-2006, and have returned to the levels of spring 2004. Nationally, home prices are back to the levels of 2003, meaning a 30 percent decline from their peaks.
 
The volume of home sales has fallen dramatically since the expiration last year of an $8,000 federal tax credit for new home buyers. The National Association of Realtors recently reported that 2010 sales of existing homes hit their lowest level since 1997. Potential buyers are holding back because unemployment rates make them worried about their job security, and because mortgages are harder to get than during the housing boom.
 
Locally we see that single-family home prices in Bergen County rose 4.1 percent, to a median $435,000. However, the number of sales dropped 27 percent from November 2009 to November 2010. Prices in Passaic County declined 4.6 percent, to a median $316,124, while the number of sales plummeted 44 percent.
 
These numbers are from the New Jersey and Garden State multiple listing services, and reflect the mix of homes sold during the month. Case-Shiller, which does not break down its numbers by county, tracks the value of the same properties over time and is considered a more reliable measure of home values.
 
Until more jobs are offered and people feel secure, it seems as if housing numbers and percentages are going to keep declining. The market will straighten itself out but it’s not going to happen overnight. If you are looking to sell you home, hang in there…there is light at the end of the tunnel.

If I can be of any assistance, please feel free to contact me with any questions or needs.

-Orly

Bills, bills, bills. There are always too many, aren’t there? During this time of economic hardship, we find ourselves pinching pennies even more. When trying to lessen bills and save money, it’s often difficult to make cuts.

Going green is huge in today’s economy as well. When looking at what we can do to reduce our carbon footprint and save money, WATER should come to mind.

Did you know that 60% of the water used indoors gets consumed in the bathroom?

Not only is this bad for your checkbook, but it’s also bad for the environment.

Fortunately for us, improving your water consumption isn’t as hard as you would think. To give you some great tips, check out this great video from YouTube…

http://www.youtube.com/watch?v=bLrUQHE6XgU

Enjoy following the steps to “green” your bathroom!

-Orly

I want to wish all of you a very happy Martin Luther King, Jr. Day!

King was the chief spokesman for nonviolent activism in the civil rights movement, which successfully protested racial discrimination in federal and state law. Ronald Reagan signed the holiday into law in 1983, and it was first observed in 1986. It was officially observed in all 50 states for the first time in 2000.

For those of you who do not know the significance Martin Luther King, Jr. had on our county, I have included his biography from nobelprize.org for you to read.

Martin Luther King, Jr., (January 15, 1929-April 4, 1968) was born Michael Luther King, Jr., but later had his name changed to Martin. His grandfather began the family's long tenure as pastors of the Ebenezer Baptist Church in Atlanta, serving from 1914 to 1931; his father has served from then until the present, and from 1960 until his death Martin Luther acted as co-pastor. Martin Luther attended segregated public schools in Georgia, graduating from high school at the age of fifteen; he received the B. A. degree in 1948 from Morehouse College, a distinguished Negro institution of Atlanta from which both his father and grandfather had graduated. After three years of theological study at Crozer Theological Seminary in Pennsylvania where he was elected president of a predominantly white senior class, he was awarded the B.D. in 1951. With a fellowship won at Crozer, he enrolled in graduate studies at Boston University, completing his residence for the doctorate in 1953 and receiving the degree in 1955. In Boston he met and married Coretta Scott, a young woman of uncommon intellectual and artistic attainments. Two sons and two daughters were born into the family.

In 1954, Martin Luther King became pastor of the Dexter Avenue Baptist Church in Montgomery, Alabama. Always a strong worker for civil rights for members of his race, King was, by this time, a member of the executive committee of the National Association for the Advancement of Colored People, the leading organization of its kind in the nation. He was ready, then, early in December, 1955, to accept the leadership of the first great Negro nonviolent demonstration of contemporary times in the United States, the bus boycott described by Gunnar Jahn in his presentation speech in honor of the laureate. The boycott lasted 382 days. On December 21, 1956, after the Supreme Court of the United States had declared unconstitutional the laws requiring segregation on buses, Negroes and whites rode the buses as equals. During these days of boycott, King was arrested, his home was bombed, he was subjected to personal abuse, but at the same time he emerged as a Negro leader of the first rank.

In 1957 he was elected president of the Southern Christian Leadership Conference, an organization formed to provide new leadership for the now burgeoning civil rights movement. The ideals for this organization he took from Christianity; its operational techniques from Gandhi. In the eleven-year period between 1957 and 1968, King traveled over six million miles and spoke over twenty-five hundred times, appearing wherever there was injustice, protest, and action; and meanwhile he wrote five books as well as numerous articles. In these years, he led a massive protest in Birmingham, Alabama, that caught the attention of the entire world, providing what he called a coalition of conscience. and inspiring his "Letter from a Birmingham Jail", a manifesto of the Negro revolution; he planned the drives in Alabama for the registration of Negroes as voters; he directed the peaceful march on Washington, D.C., of 250,000 people to whom he delivered his address, "l Have a Dream", he conferred with President John F. Kennedy and campaigned for President Lyndon B. Johnson; he was arrested upwards of twenty times and assaulted at least four times; he was awarded five honorary degrees; was named Man of the Year by Time magazine in 1963; and became not only the symbolic leader of American blacks but also a world figure.

At the age of thirty-five, Martin Luther King, Jr., was the youngest man to have received the Nobel Peace Prize. When notified of his selection, he announced that he would turn over the prize money of $54,123 to the furtherance of the civil rights movement.

On the evening of April 4, 1968, while standing on the balcony of his motel room in Memphis, Tennessee, where he was to lead a protest march in sympathy with striking garbage workers of that city, he was assassinated.

Please take a few minutes to observe King today.

-Orly

 “In business, one company's downfall is another's opportunity,” reports the Clifton Journal.

After filing for bankruptcy in 2008, Linens ‘n Things vacated its premise at 4 Brighton Road.

KABR Real Estate Investment Partners and Capstone Reality Group acquired the property as well as two others and renamed the complex the Allwood Atrium Office Park.

The real estate group had recently reached a lease agreement with Office Depot who will move into the space this spring. It will be used as a regional sales branch for the stationary supply chain.

This means Office Depot will relocate 2 miles from its currently location.

 This property is well located and will hopefully be a very prosperous place for Office Depot. The property group really cleaned up the area and made it more than presentable.

I am very excited to see the new location of Office Depot and am grateful to see the Allwood Atrium Office Park filling up with great companies.

One of the other properties will be turned into medical condominiums.

Hopefully the third space will be rented out shortly as well! I am anxious to see what it will become!

Have a wonderful weekend, Passaic County!

-Orly

Yahoo! Finance posted a great article giving all home buyers and home sellers real estate tips for 2011. Mortgage rates remain at their lowest point in nearly 60 years! Real estate is becoming more affordable and needs-based instead of speculator-driving, making a home primarily a shelter once more, Yahoo! Finance reports.

Take a look at the following tips to help you in your home buying or home selling:

1.     Sellers: REDEFINE "MARKET VALUE"
If your home has been on the market far too long, there's a good chance you're not facing market realities. The value of your home isn't what the tax assessor says it is, or the sum on that two-year-old appraisal you have filed away. It's not what a similar-size home that sold across town. It's what a buyer is willing to pay today. To arrive at that sum, the sales prices of foreclosures and short sales must be factored into the equation, along with the average value of seller concessions in your submarket.

2.     Buyers: HIRE PERSONAL PEEPS
Briefly interview three of each by phone. Make sure your appraiser and your inspector (and perhaps a separate termite inspector) are appropriately state-licensed or state-certified and, ideally, have been practicing for at least five years and have done more than 200 inspections or appraisals. Compare the results of your inspector's findings with the inspection findings of the other party, and you're likely to stumble on disparities or omissions.

 3.     Sellers: EXTEND THE SELLING SEASON
Spring is the best time to find the broadest universe of buyers and sellers. Parents don't want to uproot their kids from schools mid-term and would like to settle in a new neighborhood by mid-summer. Many sell at the same time they buy. These days, “spring” really means late winter. So if you're going to sell in 2011, get your house ready for showings by late February. That will give you nearly five months until this buying-and-selling group starts dwindling by mid-July.

 4.     Buyers: CHECK THE SELLER'S ADDITION
Based on mounting concerns expressed in Bankrate reader mail, prospective buyers should add the following move to their due diligence lists when scoping out a home: Check for illegal additions. Revenue-starved cities are cracking down on unpermitted work. They focus on current owners, not the original step-skipping "perps." Unpermitted room additions, kitchen remodels and garage conversions are just a few areas that can haunt an unsuspecting buyer.

 5.     Sellers and buyers: GATHER MICRO DATA
Search local daily newspapers, business journals and websites to find the latest foreclosed homes, housing backlogs, current versus historic median selling prices, and the average time on the market of for-sale homes in your specific ZIP code, submarket or neighborhood. The website City-data.com is a good start for this.

On a broader scale, look at population income levels, unemployment rates and the contraction or expansion of major local employers. Homes near universities, hospitals and other major employment centers usually hold their value better and resell faster. A great product and great location, at least to some degree, will transcend local trends for buyers and sellers.

6.     Buyers: SMOKE OUT PERVS
Do a sex-offender search. The National Association of Realtors, or NAR, says it's the job of local police agencies, not Realtors, to be gatekeepers of registered sex-offender data. So do your homework.

 7.     Sellers: FEEL WHAT THE BUYER FEELS
Put your ego aside, sellers. Your for-sale home is no longer about you -- it's about the buyer. So be empathic. What would you expect to see on a tour of a for-sale home? Even though you're essentially marketing brick, mortar and land, the emotional response you elicit in a buyer is often what seals a deal. Neutral colors allow buyers to picture themselves in your house. To appeal to their olfactory pleasure senses, employ the age-old tactic of baking fresh cookies before potential buyers arrive -- then leave them for your visitors to enjoy. Or at least light a candle or two. To convey an inviting atmosphere, de-clutter the place with renewed vengeance, stow away your inexpensive or tattered furniture and box up cherished mementos. Remember that the illusion of space is almost as important as the space itself.

 8.     Buyers: KEEP THE DREAM ALIVE AFTER FORECLOSURE
Lost your home to foreclosure? In most cases, that won't keep you from owning another home as far into the future as you likely feared. It's true that a foreclosure can remain on your credit record for up to seven years, but government-backed mortgage guarantors Fannie Mae, Freddie Mac and FHA typically impose just a minimum of just three years before they'll back another home loan -- if your foreclosure was due to extenuating circumstances such as job loss, relocation or illness. Next time, you might be asked for a bigger down payment, as much as 20 percent, and slightly higher interest rates. So start saving now.

 9.     Buyers and sellers: SET YOUR GOALS IN WRITING
Certainly you should get all relevant real estate promises in writing, but that's not where we're headed. Keep a log of the entire process of buying or selling a home, including your objectives, home-tour dates, buyer and seller feedback, offers, expenses, contracts, repairs, contractors hired, agent communiqués, neighborhood observations, everything. It will give you a clearer picture of what you've done, what you're doing and what to do next. Studies have shown that goals are more likely to become reality if you write them than if you don't.

10.  Buyers: PLAY THE FIELD
Don't leave yourself open to heartbreak. Buyers pursuing heavily discounted short-sale and auction homes should research several prospects, because there may be plenty of other suitors. Many a would-be buyer has been left at the altar of lofty expectations after watching another guy or gal swoop up that perfect home at the last minute for just a little more money.

If you have any questions about any of these tips presented by Yahoo! Finance, please contact me and I will do my best to help you.

-Orly

Are you sick and tired of paying “convenience” fees? Do you see them as just another way for people to make money? Check out the article below and maybe you will have a different outlook on those “useless” fees…

NorthJersey.com published a great article explaining the reasoning behind some of the convenience fees along with the County Homelessness Trust Fund Act.

The County Homeless Trust Fund Act allows participating counties to put a $3 surcharge on basic transactions. This money is then used towards homeless services! What a great thing! With the struggling people out there, it’s great that entire counties are putting forth an effort to assist with getting people off the streets.

It is not mandatory for counties to participate, but they should. Luckily enough for us, Passaic county is a participating county. It makes those fees seem not so bad now, doesn’t it? Since Jan 1, 2010, Passaic County has raised $121,110 all from a fee that costs less than a gallon of gas or a footlong sub.

Keep in mind, counties aren’t just taking people’s money without a plan. Before the $3 fee is approved, they must develop a plan for how the money can reduce homelessness.

It blows my mind that some counties are not participating in this Act. I understand we are all going through tough times but a measly $3 isn’t going to make anyone destitute; it will however, help those in dire need.

Homelessness costs society. We pay for it one way or another, whether through higher health insurance rates to cover emergency room visits or higher taxes to cover jail costs. And it isn't just financial. We pay for it through the lost potential of homeless children with uneven schooling, the lost production of homeless workers who have to skip work and the lost security of a once-healthy neighborhood whose residents have been kicked out by the banks.

In the face of all that, skip the footlong and pay the fee.

-Orly

MSN Real Estate posted a great article from forbes.com about the suspected housing shortage coming this year. The article had some great insight and will inform you about what we are expecting to see in the new year so I wanted to share it with you.

We all know the focus in the real-estate market has been foreclosures and cheap houses. According to forbes.com, Brian Wesbury, chief economist at First Trust Advisors, says that if Americans don’t start focusing on building new houses, the market will have a much bigger problem on its hands.

In an interview with Steve Forbes, Wesbury informed him that we need 1.5 million houses per year just to keep up with population growth. Right now we are down to about seven month’s inventory.

Privately owned housing stats in December 2009 were at a seasonally adjusted annual rate of 557,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4% less than where it was in November.

Some people might shrug these statistics off because of the number of foreclosures on the market. There were 315,716 properties last month with foreclosure filings, according to RealtyTrac.

Will you be one of those people to ignore the numbers? There is definitely an issue going on in our economy and we should all be working to straighten it out as soon as possible. If you are in the market to buy a home, you should follow-thru with your plans. If you aren’t finding the home you are looking for, maybe consider buying a piece of land and building a home to your liking. This will help the housing market in the long run and then you could have your new home exactly the way you want it!

-Orly

I want to take a moment to wish all of you a very
Merry Christmas and a Happy New Year!

I hope you all have a great time with family and friends. Be safe in your travels and enjoy this wonderful time of year!

-Orly