All About New Jersey Real Estate

By Scott Gleason, CRS, Westfield NJ New Homes Specialist
(Coldwell Banker Realty)
Last week, I talked about common contingencies to ask for when buying a home. I recommend including these in your typical sales contract. However, there are times when it is OK to waive contingencies. This works in a buyer's favor when they wish to stand out among other buyers. And even though the Westfield area real estate market appears to be starting to level out a bit, it still favors the seller. So, keep these situations in mind when crafting your offer.When Is It OK to Waive Contingencies?Finance ContingencyIf you need to borrow money to finance your new Westfield area home, you might want to include a finance contingency (aka "mortgage contingency"). This allows you a specified amount of time to complete the loan process. But, if you pay for your home in cash, this is one conting...
Comments 1
Your IRS Question Answered Here for September 2022.......Question: I haven't filed my tax returns for 2018, 2019 or 2020 and the IRS keeps sending me notices that I owe them $38,273. How can that be? I never even filed. What should I do?Answer: When a legally required income tax return isn't filed on time, the IRS can file an income tax return on your behalf. It's called a "substitute for return" or "SFR". Most of the time the ensuing tax liability is much greater than if you filed your own return. This is because the IRS doesn't give you credit for proper exemptions, credits not (business) deductions. In addition, it's a misdemeanor, punishable by up to one year in prison and a $10,000 fine, for each year not filed.The good news: Your Tax Resolution Specialist can prevent this from hap...
Comments 0
OnPoint Resolution at Mount Laurel, New Jersey have helped many clients through their back tax issues. How you might ask?Well, there are three main collection alternatives to resolve a back tax debt: Installment Agreement:An installment agreement is an agreement to pay the taxes back over time. There are three variations of the installment agreement: Regular, Streamlined, and Partial-Pay. Which type of agreement works best for you will depend upon your personal circumstances and is something we can help you address when you are ready. Uncollectable Status: Uncollectable status is when the IRS determines that you are unable to make current tax payments. When a taxpayer is deemed uncollectable the IRS may still file a Notice of Federal Tax Lien to secure its position in the taxpayer's ass...
Comments 0
In Mount Laurel and the rest of New Jersey, we know the story: things are tight financially, so you either (1) do not file your income tax return, or (2) you file your income tax return but don't pay the balance due. But do not worry, you tell yourself, next year will be better. Now it is 3-4 years later and the IRS letter arrives , and the threats start, and maybe it has even gotten to the point of actual levy and seizure activity. Now the IRS is wreaking havoc on your financial life and you simply do not know what to do or where to go.OnPoint Resolution know. We have helped many clients through that exact scenario. Fear not, there is a light at the end of the tunnel.As it turns out the IRS is usually only too happy to work with taxpayers, but there are some ground rule you need to be ...
Comments 1
By Scott Gleason, CRS, Westfield NJ New Homes Specialist
(Coldwell Banker Realty)
Just like much of the rest of the country, the Westfield real estate market appears to be transitioning from a hot seller's market to a more balanced one. We see fewer and fewer bidding wars nowadays. In turn, buyers now seem more comfortable asking for certain conditions (aka contingencies) than they have in a while. Even so, buyers need to temper just how many of these conditions they include in their offer. Otherwise, the seller may decide to refuse it. However, there are a few common contingencies that buyers can feel comfortable including as part of the sale.Common Contingencies to Ask for When Buying a HomeHome Inspection ContingencyWhile not legally required for most New Jersey home sales, I always suggest that buyers put this contingency in the sales contract...even with new con...
Comments 1
By Westchester Modular Homes Inc, Serving NY, NJ, PA, CT, NH, RI, MA, VT & ME
(Westchester Modular Homes Inc)
YOU ARE INVITED - LIVE GUIDED INTERACTIVE VIRTUAL TOURS Register for the Live Virtual Factory, Design Center & Models Tour:Wednesday, October 5th, 2022 @ 5:30 PM ESTExperience a live virtual tour of our actual Westchester Modular Homes factory & models located at the factory, as well as custom homes that our customers have allowed us to shoot in 3D and share with you. If you are interested sign up at www.vt-sign-up.comWhat will you learn by attending the Live Virtual Factory Tour?The Benefits & Advantages of Modular ConstructionThe Design Software & how you can take a 3D walkthrough of your home before its built3D Tour of our Factory & Sample HomesQ & A Session after Presentation
Comments 0
By John Martino
(lookSmart Home Inspections, LLC)
One issue that I often come across while inspecting older homes is asbestos pipe wrap. Asbestos pipe wrap was used from the early 1900's to the 1970's. The pipe wrap was used to insulate hot water and heating pipes. It gives the appearance of a white cloth like covering or wrap. Its purpose was to keep heat in the pipes to avoid heat loss. It was very good at its intended purpose however it had a very big drawback. As we all know asbestos fibers are harmful to the human body. Asbestos fibers cause damage to the lungs and can cause cancer. Asbestos fibers are small and durable, and they can stay in the lungs for many years causing damage. Usually, people who are exposed to asbestos will not develop any health effects until years after exposure. Home buyers and home inspectors should keep...
Comments 2
By Dave Sulvetta, Realtor
(Dave Sulvetta, eXp Connection, Gloucester County Realtor)
Gloucester Twp NJ Market Conditions - August 2022 | We could be seeing a market shift soon! Gloucester Twp has a 1.24 months supply of inventory for August. This is up 71.7% from last August 2021. However we are still showing prices are up but show signs of dropping a bit. While viewing the page, hover over the bar stats to give you a deeper understanding of the numbers. Check out the full report. https://www.davesellsnj.com/gloucester-twp-nj-market-report   Search All Gloucester Twp NJ homes for sale   Valleybrook Homes For Sale
Comments 2
By Robert Rauf
(HomeBridge Financial Services (NJ))
 Interest rates have been climbing rapidly again in the past month and a half.  This summer we had rates fairly stable and actually settling down a bit as we entered August and that's when we saw the most recent climb.Mortgage New Daily does a daily rate survey and has the average 30yr fixed rate in the country at 6.42% as of Monday 9/19/22 and you can expect that to be even higher the end of today. That is up a full percent since the beginning of August and is likely to climb a bit more in the coming weeks. If you are not in the industry you may look at the weekly  FHLMC net yield that comes out on Thursday. That was at 6.02 last week, but that is a week old when it is reported, and is currently including about 1 point and no LLPAs. Effectively an old number as it is reportedTaking a l...
Comments 4
As I represent taxpayers in Mount Laurel and the rest of New Jersey, I have seen that filing your taxes is never a fun thing to do, but if you don't file them at all then the IRS will come calling. IRS have unbridled power to file a tax return on your behalf in theirs, not your best interest. Get Your DocumentationIf you’ve been neglecting your taxes for too long, it's time to take care of things. An experienced tax resolution firm can help get things back on track and oftentimes, even if the records are missing or destroyed, there are alternative methods to reconstruct your tax return. However, only a tax resolution professional will be able to accomplish this.If you are missing W2 and 1099 forms from past years an experienced tax resolution pro has the ability to retrieve these as wel...
Comments 0
By Arisay Otero-Sánchez, EA, CFE, New Jersey's local Tax Resolution Firm
(AMOS Tax Services, LLC)
If you use one of the many online platforms available to rent the third bedroom, provide car rides, or connect with customers to provide other goods or services, you're probably involved in the gig economy. And just like any other job, money earned through the gig economy is taxable.  It’s a new business model and an emerging area in the past few years for people to make money from their gigs or part-time jobs or sidekick businesses.  It’s also known as the on-demand, sharing, or access economy.  The gig economy has changed how people commute, travel, rent vacation places and perform many other activities. It allows individuals and groups to use technology to arrange transactions that generate revenue from assets such as boats, and homes, or from services they provide such as rides, hou...
Comments 3
By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
North & Central New Jersey Rentals (New) (Join Us) https://bit.ly/3lQbuqe No/Central NJ Commercial Properties For Sale or For Lease. https://bit.ly/3jX63DnInfo Call Bill Gazi at 908-507-1954 or Paul Stillwaggon at 908-310-1358.  NJ Estates Real Estate Groups 21 Facebook Pages Join us. https://bit.ly/3aDTqdo More Open Houses, Coming Soon, Rentals & New Listings (1) https://bit.ly/3qKhS2q (2) https://bit.ly/3vpj8LA (86) Weichert Offices in NJ. Listings, Open Houses, Rentals https://bit.ly/3Lt42fC Our Real Estate Listings Blogs (1) https://bit.ly/32YoroI (2) https://bit.ly/3lWVEbC  
Comments 3
By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
No/Central NJ Commercial Properties For Sale or For Lease. https://bit.ly/3jX63DnInfo Call Bill Gazi at 908-507-1954 or Paul Stillwaggon at 908-310-1358.  72 Design-Build Pages on Pinterest https://bit.ly/3GuNBfY   21 Facebook Pages Join us. https://bit.ly/3aDTqdo 11 Twitter Pages Join us. https://bit.ly/3dTAw3T Our Real Estate Listings Blogs(1) https://bit.ly/32YoroI (2) https://bit.ly/3lWVEbCMore Open Houses, Coming Soon, Rentals & New Listings(1) https://bit.ly/3qKhS2q (2) https://bit.ly/3vpj8LA  
Comments 1
By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
North Central NJ Luxury New Homes & Land. https://bit.ly/3lCi6Xt  Call Jane Nicastro-Disch 908-313-7180, or Paul Stillwaggon 908-310-1358.  72 Design-Build Pages on Pinterest https://bit.ly/3GuNBfY   21 Facebook Pages Join us. https://bit.ly/3aDTqdo 11 Twitter Pages Join us. https://bit.ly/3dTAw3T More Open Houses, Coming Soon, Rentals & New Listings (1) https://bit.ly/3qKhS2q (2) https://bit.ly/3vpj8LA (86) Weichert Offices in NJ. Listings, Open Houses, Rentals https://bit.ly/3Lt42fC Our Real Estate Listings Blogs (1) https://bit.ly/32YoroI (2) https://bit.ly/3lWVEbC  
Comments 1
By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
NJ Estates Real Estate Group. Luxury Homes and Commercial PropertiesFor Lease or For Sale. https://bit.ly/3nzghuC North Central NJ Luxury New Homes & Land. https://bit.ly/3lCi6Xt No/Central NJ Commercial Properties For Sale or For Lease. https://bit.ly/3jX63DnCall Jane Nicastro-Disch 908-313-7180, Bill Gazi 908-507-1954 or Paul 908-310-1358.   72 Design-Build Pages on Pinterest https://bit.ly/3GuNBfY   21 Facebook Pages Join us. https://bit.ly/3aDTqdo 11 Twitter Pages Join us. https://bit.ly/3dTAw3T Our Real Estate Listings Blogs (1) https://bit.ly/32YoroI (2) https://bit.ly/3lWVEbC More Open Houses, Coming Soon, Rentals & New Listings (1) https://bit.ly/3qKhS2q (2) https://bit.ly/3vpj8LA      
Comments 1
By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
Somerset County NJ Listings. (Updated Daily) https://bit.ly/3NypWyJ  Somerset County NJ Town Listings (Updated Daily)  https://bit.ly/3UvhDrWSomerset County New Jersey Real Estate Group. Join Us https://bit.ly/2XsACHt The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. and Weichert, Realtors® - Warren. Real estate listings held by other brokerage firms are marked as IDX listings. Information deemed reliable but not guaranteed. Copyright © 2020 Garden State Multiple Listing Service, L.L.C. All rights reserved. This information is being provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in ...
Comments 1
By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
Morris County NJ Town Listings, Open Houses, (Updated Daily) https://bit.ly/3ymCcOn Morris / Sussex County NJ Real Estate Group. Like Us. https://bit.ly/3buZtCO   The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. and Weichert, Realtors® - Warren. Real estate listings held by other brokerage firms are marked as IDX listings. Information deemed reliable but not guaranteed. Copyright © 2020 Garden State Multiple Listing Service, L.L.C. All rights reserved. This information is being provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.   NJ Estates Real Estate Group https://bit....
Comments 2
By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
Union County NJ Real Estate Listing (Updated Daily)  https://bit.ly/3u0brfS Union County Real Estate Group.  https://bit.ly/3se3HnY   Berkeley Hts NJ Town Listings (Updated Daily) https://bit.ly/3HNCmRW Clark NJ Real Estate Listing. https://myre.io/0USqZySm2PV5l Cranford NJ Town Listings (Updated Daily)  https://bit.ly/3S88pQX Fanwood NJ Town Listings (Updated Daily) https://bit.ly/3DItKMf Garwood NJ Town Listings (Updated Daily) https://bit.ly/3qTAzDg Kenilworth NJ Town Listings (Updated Daily) https://bit.ly/3UJ0TOf Mountainside NJ Town Listings (Updated Daily)  https://bit.ly/3xPIfJD New Providence NJ Town Listings (Updated Daily) https://bit.ly/3bjsEug Plainfield NJ Town Listings (Updated Daily) https://bit.ly/3Nt3lmS Scotch Plains NJ Town Listings (Updated Daily) https://bit.ly/3n...
Comments 1
As I represent taxpayers in Mount Laurel and the rest of New Jersey, we have noticed the IRS is always on the lookout for taxpayer’s who haven’t filed legally required income, payroll tax returns or other information tax returns. If you have unfiled tax returns, it’s only a matter of time before they find out and demand the return and their money with penalties and interest! When it gets to a point where the IRS contacts you, the amount they claim you owe will be far greater than the amount you actually owe if you haven’t filed. You don’t want this situation and unfortunately in these circumstances the amount they claim you owe is what you will have to pay unless you prove otherwise.IRS have powerful collection tools and an unforgiving nature that makes this one of the worst mistakes an...
Comments 0
By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
Essex County NJ Updated Listings. https://bit.ly/3R0jOSvUnion / Essex County New Jersey Real Estate Group. Join Us. https://bit.ly/3se3HnY   NJ Estates Real Estate Groups 21 Facebook Pages Join us. https://bit.ly/3aDTqdo  More Open Houses, Coming Soon, Rentals & New Listings  (1) https://bit.ly/3qKhS2q (2) https://bit.ly/3vpj8LA   (86) Weichert Offices in NJ. Listings, Open Houses, Rentals  https://bit.ly/3Lt42fC   Our Real Estate Listings Blogs (1) https://bit.ly/32YoroI    (2) https://bit.ly/3lWVEbC    
Comments 1
New Jersey Real Estate Agents and Real Estate Professionals