The Haviland Group\’s Blog

Financing Solutions with David Reed

Overcoming the misconceptions about the “credit crisis”

You™ve watched the news and read about it in the papers. You know, the œcredit crisis and how buyers need 20 percent down in order to buy a home? And even if you found a buyer with 20 percent down, lenders aren™t making loans anyway. So, why bother, right? Wrong!

We™re right smack in the middle of what just might be the biggest disservice ever perpetrated on potential home buyers. It seems the press just can™t get enough of all the gloom and doom in the housing industry. The fact is that mortgage money is as available today as it was a year ago and loans are being made this very moment with little or no money down. And, no, platinum credit isn™t required. You just need to know where to look. Who are these lenders? They™re right down the street.

Federal Housing Administration (FHA) loans are exploding onto the mortgage scene; recent estimates are that one out of five mortgages are FHA loans. FHA loans never went away, their reemergence is a result of the collapse of the sub-prime market. FHA doesn™t technically have a minimum credit score, although, in practice, lenders won™t approve an FHA loan with a credit score below 500. But that™s a far cry from the notion that an 800 score is the only thing lenders care about.

The best part? FHA only requires 3 percent down. 3 percent. And that 3 percent can come in the form of a gift or grant. FHA borrowers only need to have $500 in a transaction. All the while, FHA mortgage rates are as good or better than their conventional counterparts.

Low or no down payment, extremely competitive rates and easier qualifying. No wonder FHA is moving up the charts!

Please contact me if you would like more information about FHA loans or help getting into your first home.

Did you know that new home prices are very affordable now and can often be the most house for the money.  We can sell any new construction home to you.  We have a database full of new homes that are ready to be purchased.  If you are interested in owning a brand new home please call or email us for a free consultation.

212 Delaware Avenue, Absecon Best Buy.  2 Bedroom, 1 bath Single Family Home.  $185,000

Charming remodeled home features 9 foot ceilings, hardwood floors, open kitchen, 11’5″ x 25′ great room, and enclosed porch. 3 year old roof, bathroom, plumbing, electric, fixtures, central air. Full basement and detached 1 car garage. This home is in move in condition. Includes a one year home warranty for peace of mind. For Virtual tour:  http://www.realestateshows.com/276021 or call or email us and we’ll send you the details.

1210 Dolphin Avenue, Northfield:  55+ Community Living.  $160,000

Four Seasons is a 55+ community in a great location…a peaceful setting close to the bay yet easy access and transportation to shopping, beaches and boardwalks! Spacious 2 bedroom 2 bath second floor unit with balcony features beautiful tile floors and a large walk in closet in the master suite and an elevator is in the building. This Best Buy is vacant and ready to go!  For Virtual tour:  http://www.realestateshows.com/274305 or call or email us and we’ll send you the details.

I just wanted to give you an update on Fox Chase condo prices since many of our clients own homes or investment properties there.   These are the one bedroom condos in Smithville (Galloway).   The average list price is $119,555.  Average sold price since January is $113,582.  High sale price is $125,000.  There is one under contract listed at $118,400.

If you are curious about what your home is worth please sign up for our free Market Snapshot Service and learn more at by clicking here.

Best wishes,

Matt

P.S.   Feel free to contact us if you need any market statistics.   And remember us when you’re ready to sell.

We have new listings, open houses and price reductions and wanted to pass this information on to you.  Feel free to forward this blog to the people that you know who may be interested.

New Listings:

58 Tower Avenue, Egg Harbor Township.  4 Bedroom, 2.5 bath.  $319,900

58 Tower Ave is a beautiful four bedroom, two and a half bath home on a cul-de-sac in Shires West.  This is a great location tucked away at the end of the development on a quiet cul-de-sac yet has easy and safe access to the Black Horse Pike.  It™s close to shopping and Atlantic City.  The home features a large eat in kitchen, formal dining room and a spacious living room with a window box overlooking a beautiful fenced yard with a 15 x 30 above ground pool.  The master suite is large and features a huge 10 x 10 walk in closet.  The master bath also features and oversized shower and a soaking tub.  For your convenience there is an upstairs laundry room.  For your peace of mind a one year home warranty is included from American Home Shield.  A quick closing is available.  Open House Tuesday April 1st 3:30 to 5:30 PM.  For Virtual tour:  http://www.realestateshows.com/271686 or send us a message and we’ll send you the details.

235 Lenape Road, Galloway:  Buildable Lot.  $159,900

Beautiful wooded building lot approved and ready to go!  Owner was going to build a large Cape Cod (plans available), a 2700 sf  footprint was approved and septic for a 4 bath home.  Call for copies of  Pineland approvals, plot plans etc.  Sale ALSO includes a 5 acre wooded parcel on Zurich Ave (block 647 lot 13.01) that  is unable to be built on, but great for hunting, ATV’s or enjoying nature!   Contact us for more details.

2551 7th Avenue, Sweetwater.  Buildable Lot.  $269,900.  

Beautiful 9.7 acres with a burned out house, some out building and an inground pool.  Land is partly cleared and partly wooded.  A subdivision into 2 lots is a possibility.  Buyer responsible for all certs.  Being sold ‘AS IS”.   Contact us for more details.

Price Reductions:

Handyman Special on 2 acres in Port Republic.  Was $175,000 now $169,900.

321 Clarks Landing Rd. in Port Republic is a handyman special on 2 acres.    This home features two bedrooms and one bath and is being sold strictly “AS IS”. Cash buyers or FHA 203 K buyers only.  If you are handy and want a property with land and in Port Repbulic this home is a great buy.  Clarks Landing Rd. Contact us for more details.

4 Cardinal Dr.  - Mobile Home In Mullica Woods.  3 bed, 2 bath.  Was $75,000 now $59,000.

Large three bedroom and two bath ranch in the beautifully maintained Mullica Woods. This is 55 plus adult community. Lot rent of $594 per month includes clubhouse and pool. Features new wall to wall carpeting, all appliances, gas heat, central air, large front porch, and a quiet corner location. This home is easy to show!! Mullica Woods, a wonderful quiet adult community!   Contact us for more details.

Open Houses This Week:

217 Moss Mill Road Port Republic.  Monday March 31st 3:30 to 5:30 PM

Beautiful custom built home on 2.78 acres in Port Republic. Open floor plan with cathedral ceilings. A super house for entertaining friends and family! 4 bedrooms, 2 baths. 4th bedroom could be used as office. Great back deck with in ground pool. One car garage too and full basement.

58 Tower Avenue, Egg Harbor Township.  Tuesday April 1st 3:30 to 5:30 PM

58 Tower Ave is a beautiful four bedroom, two and a half bath home on a cul-de-sac in Shires West.  See full description at the top of this message.

Right now is a great time to buy or sell.  There are many opportunities in this market and we are happy to help the people you care about.  Who is the next person you know who is thinking about buying or selling a home?  Please let us know how we can best get in touch.

Thank you, and best wishes!

Richard Haviland & Matthew Haviland

Your Real Estate Consultants For Life

P.S.  Feel free to forward this blog on to anyone you know who may be interested.

The Haviland Group At Keller Williams Realty

www.HavilandGroup.net 609-916-7342

I just got an email from NJ appraisal guru Jeff Otteau.   He predicts that home prices will not reach their 2005 peak until at the earliest 2015.   So for home sellers our advice is if you need to sell don’t wait.   Price it right and sell now.   In Atlantic County we are optomistic that with the influx of new casino mega resorts and jobs in 5 years we may see price levels return sooner.

If you need to sell.   Now is a great time to sell.   Remember that when you buy you’ll also be buying at a lower price.   Now is the time to buy with lower prices, great rates and a large inventory of homes to choose from.   This is a great market and a great opportunity for sellers and buyers.
If you have any questions about this or would like to consult with us personally please email or call us at 609-916-7342 ext. 704.

Best wishes,

Matt

Here’s a synopsis of what is happening in Atlantic County. All this has been announced in only the last two months.Here is what will clearly become the biggest real estate BOOM in this county’s history.

There are 40,000 more jobs coming, (not including what happens with Bader Field) and there will need to be considerably more housing. We do not have a high unemployment rate in Atlantic County so these employees will have to come from out of the area.

If these 40,000 people only need 15,000 housing units over a three year period, that’s an additional 5,000 sales per year. That’s 10,000 more closed units per year. This is HUGE!

After that boom we will be looking at an increased resident population and if we assume that people move every 7 years this would equate to an additional 2,142 resales per year. That’s 4,284 additional units per year in the future, after the rush.

To capitalize on this coming boom, now is the time to act on investing in real estate in Atlantic County.

To take advantage of this coming boom we have positioned our business and our team to emerge as the best in the industry and capture leading market share.   We are also available for consultation for investors looking to invest in Atlantic City.   We also are available to consult with new investors who have significant assets or equity and are looking for safe, secure investments in real estate.

Here are some articles detailing the coming development projects:

BUILDING BOOM SWEEPING A.C.12/18/07 06:15 pm  -ATLANTIC CITY–A wave of change is washing over Atlantic City as a building boom is now in full effect. Whether it’s properties adding to what they already have, or new ones being built from the ground up, change is on the way….MORE

MGM MIRAGE FILES FOR KEY PERMIT IN A.C.

1/15/08 04:37 pm  -ATLANTIC CITY–MGM Mirage has filed an application for a Coastal Area Facility Review Act for the company’s proposed Atlantic City project….MORE

DOES AREA IN A.C. NEED TO BE REDEVELOPED?

1/16/08 04:34 pm  -ATLANTIC CITY–Officials in Atlantic City met Wednesday to consider designating the more than 20 acres around the former sands hotel and casino as being in need of redevelopment….MORE

CRDA, CITY, GETTING CLOSER TO BADER AGREEMENT

1/25/08 11:29 pm  -The head of the CRDA has recently been critical of a proposed deal between Penn Gaming and the city of Atlantic City for the development of Bader Field, but after a meeting this afternoon, all parties say they’re closer to an agreement that would see a bidding process take place….MORE

REVEL ENTERTAINMENT GETS OK FROM A.C.

2/6/08 03:08 pm  -ATLANTIC CITY–Construction of a new $2 billion Boardwalk casino can begin now that Atlantic City’s planning board has signed off….MORE

ATLANTIC CITY PREPARES FOR INFLUX OF NEW EMPLOYEES

2/17/08 10:45 pm  -ATLANTIC CITY-Atlantic City’s casinos face a growing problem: what to do with thousands of new workers heading to the gambling resort? …MORE

CRDA ANNOUNCES TRANSPORTATION PLAN WEBSITE

2/19/08 10:16 pm  -ATLANTIC CITY-The Casino Reinvestment Development Authority announced Tuesday the launch of a new website aimed at keeping the public informed and updated on the agency’s Atlantic City regional transportation plan….MORE

MOHEGANS EYEING A.C. CASINOS?

1/30/08 05:35 pm  -ATLANTIC CITY–Officials with the Mohegan Sun Casino in Connecticut have expressed interest in the Tropicana. But, the company has also been in talks with Trump Entertainment about possibly acquiring the Trump Marina….MORE

MANDALAY BAY PRESIDENT TO HEAD $5 BILLION MGM A.C. PROJECT

2/21/08 02:10 pm  -ATLANTIC CITY — The president and chief operating officer of Mandalay Bay Resort in Las Vegas will oversee its new casino hotel project in Atlantic City….MORE

Best wishes,

Richard and Matthew Haviland

Your Real Estate Consultants For Life

P.S.   If you would like to learn more about how to capitalize on this coming boom, please contact us at 609-916-7342 or http://HavilandGroup.net  

I created a new site for Galloway NJ. It’s all about my hometown Galloway NJ.

The link is here:

http://www.squidoo.com/08205/MatthewHaviland-knows-08205

You can vote on your favorite restaurant, post community events, and make comments.

Please check it out and let me know what you think.

Thank you,

Matt

We want to pass on this letter from our clients Mo and Kathy Loveland with an invitation to come to their open house this Saturday February 2nd at their home for sale in Port Republic from 1-3 PM.  Also, please forward this to anyone who may be interested.

Dear Neighbor,

We wanted to be the first to tell you the ugly truth!  In these kinds of times it takes creative marketing solutions to get your home sold quickly and at the highest price possible.  As we now are retiring and have to sell our home, we are no exception. We hired one of the most dynamic well-known Realtor teams in the area, Richard & Matthew Haviland of The Haviland Group at Keller Williams Realty, to market our beautiful Port Republic home. As you may know they have been selling Port Republic and Galloway homes for 30 years “ and have sold hundreds of homes.

Their colleague used a method called the œUgly Yellow Sign marketing campaign before and had tremendous results. A few months ago, she was able to have 3 open houses with more than 200 people through, of which more than 50% came because of these signs. We are very proud to be homeowners in Port Republic and want to make sure that our home gets the œeyes it deserves.

These signs are not what you expect, and they are called ugly for a reason, but they work!

Please stop by our home, or send someone you would love to see move in, this coming Saturday, February 2nd from 1-3 PM.  Our address is 217 Moss Mill Road.  To learn more about our house Richard & Matthew set up a free recorded message for us at:  1-800-441-7855 ext:  23856.

Sincerely,

Mo & Kathy Loveland

PS: There will be about 50 signs put on the busy streets leading to our home so that buyers cannot get lost.

There has been so much bad media lately about the real estate market. The truth is this is not a bad market. Our local market is going through a correction period. There are great opportunities for buyers, sellers and investors in this current market.

For buyers and investors inventory is up and rates are down and sellers are willing to negotiate.

Here are the current rates:

For home buyers rates are 5.75% with 5% down for a 30 year fixed mortgage. And many Zero Down payment loan programs are available.

An investor can buy a house with 20% down and get 6 3/8ths percent fixed rate mortgage for 30 years. With all of the fluctuations in the stock market you may want to consider that real estate is and remains a more stable investment.

There are 26,000 jobs coming in the next three years with the new mega-casinos coming to Atlantic City. With these new jobs will come increased housing demands and rising prices. Now is a great time to buy based on these conditions.

For sellers that need to sell and have their homes priced right they are selling quickly and many are getting multiple offers.

This real estate market has great opportunities. As your real estate consultants for life we are the experts that will help you navigate through this market. For more information or a free consultation please contact us at www.HavilandGroup.net or call us at 609-916-7342 ext 703 or 704.

Thank you, and best wishes!

Richard Haviland & Matthew Haviland

Your Real Estate Consultants For Life

P.S. Feel free to forward this message on to anyone you know who may be interested.

The Haviland Group At Keller Williams Realty

www.HavilandGroup.net 609-916-7342