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Month: July 2016

5 Interesting NJ Events Happening In August 2016

Being a highly developed region, New Jersey attracts the interest of many major events across different industries. It’s no exaggeration to say that the Garden State is always packed with interesting events throughout the year and the residents here can greatly benefit from the wide array of activities they can partake in. Whether you stay in Bergen County in North Jersey or Gloucester County in South Jersey, there’s no denial that you have made an excellent choice in calling NJ your home. The month of August has a series of exciting events lined up and here are some of them that you might want to catch:

Hot Air Balloon Festival NJ

Warren County Farmers’ Fair will be hosting the annual hot air balloon festival together with their county fair from July 30 through to August 6. Expect lots of fun activities for the entire family where you can enjoy Mud Bog competitions, tractor pulls, cotton candy, and so much more. There’s a paltry admission fee needed but considering that you are paying the ticket to a two-in-one event, it’s more than worth your money. If you want to get on hot air balloon rides, remember that you have to book your ride with the festival coordinators first.

Movie Nights

This August, kids and adults alike in New Jersey will be hosted to two movie nights on the 2nd as well as the 9th of August at 8:00pm at the Oskar Schindler Performing Arts Center. So if you have a date and you would like to surprise them with an amazing night out, make sure you book your tickets early for this special event.

Artist and Maker Market

Do you enjoy immersing yourself in a creative space where you are surrounded by arts and crafts in a market setting? Then set aside August 3 and August 17 to visit the Grove PATH Plaza in Hudson County for live music, good food and cold drinks! This is a great event that you can enjoy with your loved one as you shop around and view the art and crafts items on sale. There’s also a lot of booze to go around during the event so you will find the atmosphere to be rather festive!

Cranford Street Fair & Craft Show

This is one of the largest arts and crafts shows held this August with approximately 25,000 attendees expected to turn up in downtown Cranford. The event will be held on August 21, starting from 11am. There will be no admission fee so why not get your entire family to join in the fun? Over 200 vendors will be selling their merchandise so you will be spoilt for choice as you shop around.

Beauty by The Beach

On August 9, Ocean County will host a health and beauty event at the Park Pavillion. There will be appetizers and cocktails as you get pampered with beauty products while you enjoy the spectacular ocean views. What better way to spend a girl’s night out as you enjoy the summer night on the beach? You tell us!

As you can see, New Jersey has a lot to offer to its residents when it comes to events and activities. If you have not yet experienced the magic of living in NJ, why not explore popular neighborhoods here and purchase a NJ property to experience Jersey living at its best?

Have You Factored In Closing Costs For Your Real Estate Transaction?

For every real estate transaction, there are always closing costs to account for. As a property buyer, you have to keep spare funds so that you can cope with end of transaction fees. If you are the property seller, you should also think about closing costs before you even come up with the asking price for your house. The truth is closing costs can add up really fast and if you have done your calculations wrongly, you will be the losing party in the end.

Are You the Property Seller?

As the seller, if you have put your house up for sale at $500,000 successfully, it will be wrong to think that you will receive a check for that exact amount you are asking for. This is because when your house sale is confirmed, there are a range of fees that you might have to shelve out, which can include the following:

Loan Payoff Costs: Since you have now sold your house, it’s time for you to pay off the mortgage on your house. In many cases, there is a prepayment penalty for your loan and with the addition of prorated interest, the final amount you need to pay to close your loan will be slightly higher than what you see in your loan balance.

Repair Costs: Before signing the deal, property sellers are expected to pay for repairs that might be highlighted by a home inspection. Although your realtor will allow you as the seller to place a dollar cap on the amount you are willing to pay for repairs, you risk losing the real estate deal if both you and the buyer cannot agree on the repair amount in the case that the repairs exceed your set amount in the sales contract. Therefore, you should always factor in repair costs in your asking price.

Realty Transfer Fee (RTF): In states like New Jersey, a RTF is collected from sellers typically at closing. Do note that certain demographic groups can receive a discount on the RTF, such as the physically disabled and senior citizens. The RTF is based on your house sale price.

Real Estate Agent Fee: For most house sales, the agent’s commission is 6% on the average. If your house is sold for $500,000, then you have to pay $30,000 to your agent at closing. The money is then usually split with the brokerage associated with the buyer’s agent.

Are You the Property Buyer?

If you have agreed to buy a gorgeous house for $500,000, do not be mistaken into thinking that that is all you have to pay for the house property purchase. In most cases, you are responsible for closing fees that can include:

Attorney Fee: Depending on the nature of your real estate transaction, you may have to hire an attorney for the property purchase. Attorneys usually charge $1,000 to $2,000 for such services.

Title Search Fee: To ensure that the property you intend to buy is legally available from the seller, you need to conduct a title search with the help of the title company. This fee is usually between $75 and $100.

Credit Score Report Fee: When you are asking for a mortgage loan for the new house you are buying, it’s possible that you have to pay a fee to the mortgage company to examine your credit score. This usually costs around $50.

Underwriting Fee: The mortgage company will also have to research on the amount of loan you can be approved for. This underwriting fee averages around $800.

Processing Fee: To be able to process your loan application, you are expected to pay a processing fee to the lender. This fee is usually capped at $1,000.

You Don’t Have to Feel Overwhelmed by Closing Costs

Industry surveys indicate that closing fees can cost up to as much as 6% of the transaction total. However, whether you are the seller or buyer, there are many ways to manage closing costs. For example, certain costs that are normally liable for the buyer can be shifted to the seller, especially if you know how to negotiate well in a buyer’s market. On the other hand, in a seller’s market, you will be able to think about the closing costs and negotiate with your buyer for a higher house price.

There are many ways to tackle these closing costs, but one of the best methods is to have a resourceful agent on your side. If you are working with an experienced realtor, he will be able to advise you on the strategies you can use to reduce the closing costs you have to pay out of pocket. Also, the negotiation skills of your realtor can be vital in helping you slash down some of these costs at the closing table. If you want to find out more on how to reduce closing costs, feel free to contact us at NJLux today.

Why Should You Buy A Smaller House?

In our world today, many people seek to have everything they wish for and our culture seems to dictate that going big is better to show that you are doing well. Homes we build today have doubled their per-square footage compared to the past. This is ironic in the sense that family units are getting smaller and smaller.

Technology has also enabled things to be more compact and smaller, meaning that you do not need a lot of space to live comfortably. When the recession hit some years back, it forced so many homes to cut back on expenses and people had to adjust to new lifestyles – and they did survive. It’s time to rethink what is really important. We will take a look at why you should consider buying a smaller house and let go the mentality of “bigger is better”.

Less Tax to Pay

Usually, the value of a property is calculated using the square footage of the land it occupies and the property value in turn, determines the property taxes. So that means you can make massive savings on paying taxes when you occupy a smaller house compared to a bigger one.

Fewer Maintenance Costs

Owning a home does not mean that you will not continue to spend money on it. You need to put in consideration the amount of money you will spend every month on expenses and maintenance costs. It is not rocket science, but you end up saving more on maintaining smaller houses than bigger ones and mind you, this continues for a lifetime.

Lesser Clutter

Having a big home means you have a lot of space to spare. This sometimes may lead to overspending as you will automatically need to acquire items that you may not really need to fill up the spaces. You therefore end up with a lot of clutter in your home. In a smaller house, you spend money only on items that are of paramount use. You not only save money, but you also have less clutter around your home.

Lesser Energy Consumption

Having a big space is very comforting at times; but think of the amount of money that goes into paying heating and cooling bills each month. A smaller home is easier to be insulated and you end up saving more on energy bills.

Lower Building Costs

A smaller house is considerably cheaper to build compared to bigger houses. Think of it this way, you need lesser materials to build and thus lower material costs. In turn, you save a lot of money and you are able to spend on quality material, meaning you give more attention to detail.

More Outdoor Activities

It is not at all bad to spend time with your family indoors and perform indoors activities, but a smaller house can make the family start thinking about innovative ideas on how to spend more time on outdoor activities. Spending time on outdoor activities means you get to be involved in more vigorous activities and thus keep yourself healthier. You will also be more prone to spending time to get to know your neighbors, therefore building a better community around you.

Essential Tips For Taking Quality Listing Photos

The internet has revolutionized how business transactions are being carried out all over the world and sellers have many ways to promote their merchandise to their target audience. This concept has also been adopted by real estate agencies, and property photos are often included in their online listings.

These days, many buyers do their research online in search for properties and oftentimes, the photos of your property become the make or break factor in piquing their interest. As a property seller, you need to know that having quality listing photos increases the views on your property. The first impression speaks volumes about your property and can even motivate a prospective buyer to come for a viewing in person.

For starters, you should always ensure that you get your home cleaned first and make sure everything is neatly arranged before taking property photos. Here are other tips on how you can ensure your property captures the right attention through your listing photos:

Hire Professional Photographers

It’s a good practice to hire professional photographers to take quality photos since they have the skills to capture the best selling points of your property. Top notch photographers have mastered the art of capturing an object’s image from different angles to bring out that exquisite look. You can also talk to your realtor and see if he has someone (not necessarily a professional photographer) on his team who has experience in snapping quality listing photos.

Use the Natural Light

Let Mother Nature work for you as you take photos for a more natural look around your property. A sunny day will work best when you need to take interior photos. Ensure that you open the curtains wide to let in the light. Using the camera flash is not recommended since it creates glares that can look unattractive. Take photos of your outdoor features during an overcast sky to avoid shadows that may appear during a bright day.

Give an Accurate Representation of Your Property

You need to ensure that you take photos that give an actual representation of the size of your house to avoid misconceptions. For example, cameras with wide angle lenses are known to take objects out of proportion and display them bigger than they actually are. By avoiding such tricks, you save precious time for both yourself and the buyers – as the prospective buyers who come for the viewing after seeing your listing photos will have their expectations met.

Avoid Using Your Cell Phone Camera

Using a smartphone to take listing photos may not work out well since you want to achieve more detailed photos. There are smartphones that have high megapixels but in comparison, it would be better if you invest in a small camera with high-resolution capabilities, with at least 5 megapixels, to get quality pictures. You can also get a small tripod to mount your camera on for taking stable images.

All in all, if you follow the above recommendations, you will more likely than not end up with a good range of quality photos to use for your property listing. As always, you can also consult with your realtor to check if the pictures you are using are good enough to generate interest from prospective buyers.

Celebrating 4th of July in North Jersey

Independence Day, popularly known as 4th of July, is a great time to enjoy family reunions, concerts, barbecues, parades, and of course, lots of fireworks. This year, 4th of July falls on a Monday so we can all enjoy a long holiday weekend (I hear you guys cheering already), but if you have not made any plans yet, consider yourself booked after reading this post! For those of you living in North Jersey, there are many exciting 4th of July events lined up so check them out:

Franklin Township Independence Day Celebration

When: Friday, July 1, 2016

Where: Franklin Township Municipal Complex

For those living in Franklin Township, you can make an early start in celebrating the birthday weekend by heading down to this family friendly event where live 80’s music take the center stage. There’s also a kid’s zone for your little tots to enjoy. The fireworks display is expected to start at 9:15pm. See this page for more information.

Randolph Freedom Festival

When: Friday, July 1 – Saturday, July 2, 2016

Where: County College of Morris

Come to this exciting fair that features carnival rides, live music, games, food, and more! People living in Morris County will be familiar with this annual festival as it is one of the largest 4th of July events held here. On July 2, the festival will end on a high note with a brilliant fireworks display starting at 9:30pm.

Hoboken 4th of July Fireworks Celebration

When: Monday, July 4, 2016

Where: Hoboken, overlooking Hudson River

Come and join the fun in Hoboken where you can watch Macy’s Fireworks light up the Hudson River in a spectacular orchestra of colorful sparkles. There will be food and refreshment vendors located along Sinatra Drive from 1st St. to 11th St. The fireworks display will commence at 9:20pm and is expected to last for approximately 26 minutes with 1500 bursts per minute.

Washington Celebrates America

When: Saturday, July 2 – Monday, July 4, 2016

Where: Washington Borough – Broad Street & Warren Hills Middle School

Those living in Warren County should not miss this celebration which includes derby races, a parade, concert and fireworks. Qualification races for the orange crate derby are held on July 2 while the parade will take place on July 4 at 3:00pm, following with the concert and fireworks display at 6:00pm.

Allendale 4th of July

When: Monday, July 4, 2016

Where: Allendale – Recreation Park & Crestwood Lake

Drop by the Recreation Park where the fun-filled day of competitions and races starts at 8:00am. You can take part in horseshoe pitching contests, rolling pin throws, fun runs, and so much more! For those who are interested in the concert by The Saddle River Valley Concert Band at 7:30pm, remember to get your tickets early and catch the event at Crestwood Lake, after which you can enjoy a spectacular fireworks display at 9:00pm. For more information, check out this page.

These are just a small handful of events you can attend in North Jersey; you can search for more 4th of July celebrations happening near you. With so many fun celebrations to partake in, don’t you just feel grateful for living in this vibrant region? If you have yet to make North Jersey your home, start looking at the best properties for sale in North Jersey now!

Manson in night view

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