Tuesday, February 23, 2010
Jersey City Streetscape Plan
Newark Avenue Streetscape - Update from Councilman Fulop
All but a few small projects in Phases I and II of the Newark Avenue Streetscape project are complete. Phase III, beginning at Coles and ending at Summit Avenue (Five Corners), will see the same streetscaping that has been completed in Phases I and II, from Grove Street to Coles. Phase III will include repaving of Newark Avenue, benches, trash cans, lights, new sidewalks and crosswalks.
The contractor is slated to start work in the next 2-4 weeks. Work must start by March 13th or we risk losing the federal funds utilized to complete the Newark Streetscape project. Therefore work will be resuming shortly.
Many people have asked about the unfinished crosswalks. Due to the cold weather some polymer resin crosswalks and thermoplastic ladder striping crosswalks were not completed. For the work to be done effectively, the temperature has to be 40 degrees and rising -- preferably at least 50 degrees. In March or April, the contractor and subcontractors will return to the site and complete all missing or defective work.
A public ceremony will take place in Mercado Park to celebrate the revitalization of Newark Avenue when it is complete
All but a few small projects in Phases I and II of the Newark Avenue Streetscape project are complete. Phase III, beginning at Coles and ending at Summit Avenue (Five Corners), will see the same streetscaping that has been completed in Phases I and II, from Grove Street to Coles. Phase III will include repaving of Newark Avenue, benches, trash cans, lights, new sidewalks and crosswalks.
The contractor is slated to start work in the next 2-4 weeks. Work must start by March 13th or we risk losing the federal funds utilized to complete the Newark Streetscape project. Therefore work will be resuming shortly.
Many people have asked about the unfinished crosswalks. Due to the cold weather some polymer resin crosswalks and thermoplastic ladder striping crosswalks were not completed. For the work to be done effectively, the temperature has to be 40 degrees and rising -- preferably at least 50 degrees. In March or April, the contractor and subcontractors will return to the site and complete all missing or defective work.
A public ceremony will take place in Mercado Park to celebrate the revitalization of Newark Avenue when it is complete
Sunday, February 21, 2010
10 big-impact, low-cost enhancements to help your home sell
1. Tidy up inside kitchen cabinets and closets - potential buyers open them! And they want to make sure there's plenty of room for their stuff.
2. Add or replace tile to give a kitchen and baths an updated look.
3. When a wall separates the kitchen from the family room, add a breakfast bar by simply cutting out an opening in the wall. This will make both rooms appear bigger and add an eating surface where one didn't exist before.
4. Use granite tiles instead of one big slab.
5. Put in a new medicine cabinet, change the faucet, and update the light fixtures in the bathroom.
6. Fill in cracks in basement, paint with waterproof paint and top with color to give a finished look.
7. Update kitchen cabinets byreplacing doos and/or simply changing hardware.
8. Replace tired-looking overhead light fixtures and put light sources where they didn't exist before to give more light and brighten up the space.
9. Tech-up the garage by installing a remote touch-pad system.
10. Paint!
2. Add or replace tile to give a kitchen and baths an updated look.
3. When a wall separates the kitchen from the family room, add a breakfast bar by simply cutting out an opening in the wall. This will make both rooms appear bigger and add an eating surface where one didn't exist before.
4. Use granite tiles instead of one big slab.
5. Put in a new medicine cabinet, change the faucet, and update the light fixtures in the bathroom.
6. Fill in cracks in basement, paint with waterproof paint and top with color to give a finished look.
7. Update kitchen cabinets byreplacing doos and/or simply changing hardware.
8. Replace tired-looking overhead light fixtures and put light sources where they didn't exist before to give more light and brighten up the space.
9. Tech-up the garage by installing a remote touch-pad system.
10. Paint!
Friday, February 19, 2010
Short Sale Buyers Face Difficulty Closing Deals Quickly
This Article came from: http://rismedia.com/2010-02-18/short-sale-buyers-face-difficulty-closing-deals-quickly/ by Mary Shanklin
Rachel Nacion-Ograyensek and her husband are getting nervous. The house that the two apartment dwellers want to buy—the one with the double oven, pool and tiled patio—may slip away from them.
It’s on the market as a short sale, so the owner can’t act until the mortgage holder approves the discount price. But the Altamonte Springs, Fla. couple insists on buying their first home in time to take advantage of the federal government’s home buyer tax credit, which now expires April 30, 2010.
“The house is our dream house—it’s perfect for us,” Nacion-Ograyensek said. “We are trying to get in on the tax credit, but it’s done in April, and it’s already February. We’ve gotten to the point where we’re passively looking for other houses, but none are quite right.”
Under pressure from the real estate industry, Congress extended and expanded the tax credit last fall. It was to have ended November 30, 2009 and benefit only buyers who had not purchased a home in the past three years. Like the original, the latest version is worth as much as $8,000, but it gives both first-time buyers and qualified existing homeowners until April 30 to secure a contract on a home, and until June 30 to close the deal.
Though real estate agents and homebuilders hope the measure boosts sales, as the previous version was credited with doing, some fear that buyer’s intent on getting a short sale bargain will not make the new deadlines.
In the Orlando area, 67% of Realtors’ existing-home sales in December 2009 were distressed sales—and about half of those were short sales, known for taking at least three months to complete. Even buyers who nail down a contract with the seller by the April 30 deadline can’t be sure the purchase will close within the required two months. “That’s where you get into that riverboat-gambling mentality,” said Jim Ruddy, the longtime real estate agent representing Nacion-Ograyensek and her husband. “Is it worth gambling that $8,000?” At this point in the tax credit countdown, buyers interested in purchasing a short sale must decide whether they are really committed to that property—enough that they would still want to purchase it if they miss the June 30 tax credit deadline, Ruddy said.
Nacion-Ograyensek said she and her husband recently revisited the short sale house in Altamonte Springs and decided it was worth the gamble. The kitchen is ideal for cooking, and the backyard is large enough if they have children or adopt a dog. They have decided to stick with their plan; still, each day that passes makes them more anxious.
In hopes of capturing tax credit-motivated buyers who aren’t focused on distressed properties, Florida’s real estate agents have scheduled an unprecedented statewide open house of properties listed for sale. The event, organized by the Florida Association of Realtors, is set for April 10-11—just two weeks before the tax credit deadline.
Kathleen McIver-Gallagher, chairman of the Orlando Regional Realtor Association, said buyers intent on getting the tax credit should be concerned if they are trying to purchase a short sale through lenders known for slow responses to short sale offers.
As the April tax credit deadline nears, buyers will probably become more interested in homes other than distressed sales, McIver-Gallagher said. “There are plenty of regular homes out there,” she added.
Compounding the delays are new reporting rules that lenders must now follow. Nate Morris, vice president of Thomas Mortgage and Financial Services, said the new requirements involve good faith estimates and HUD closing documents. “It certainly could further complicate things,” said Morris, a board member of the Mortgage Bankers Association of Florida. “I don’t see this working out till the middle of the year. Everyone in the mortgage business talks about it on a daily basis.”
(c) 2010, The Orlando Sentinel (Fla.).
Rachel Nacion-Ograyensek and her husband are getting nervous. The house that the two apartment dwellers want to buy—the one with the double oven, pool and tiled patio—may slip away from them.
It’s on the market as a short sale, so the owner can’t act until the mortgage holder approves the discount price. But the Altamonte Springs, Fla. couple insists on buying their first home in time to take advantage of the federal government’s home buyer tax credit, which now expires April 30, 2010.
“The house is our dream house—it’s perfect for us,” Nacion-Ograyensek said. “We are trying to get in on the tax credit, but it’s done in April, and it’s already February. We’ve gotten to the point where we’re passively looking for other houses, but none are quite right.”
Under pressure from the real estate industry, Congress extended and expanded the tax credit last fall. It was to have ended November 30, 2009 and benefit only buyers who had not purchased a home in the past three years. Like the original, the latest version is worth as much as $8,000, but it gives both first-time buyers and qualified existing homeowners until April 30 to secure a contract on a home, and until June 30 to close the deal.
Though real estate agents and homebuilders hope the measure boosts sales, as the previous version was credited with doing, some fear that buyer’s intent on getting a short sale bargain will not make the new deadlines.
In the Orlando area, 67% of Realtors’ existing-home sales in December 2009 were distressed sales—and about half of those were short sales, known for taking at least three months to complete. Even buyers who nail down a contract with the seller by the April 30 deadline can’t be sure the purchase will close within the required two months. “That’s where you get into that riverboat-gambling mentality,” said Jim Ruddy, the longtime real estate agent representing Nacion-Ograyensek and her husband. “Is it worth gambling that $8,000?” At this point in the tax credit countdown, buyers interested in purchasing a short sale must decide whether they are really committed to that property—enough that they would still want to purchase it if they miss the June 30 tax credit deadline, Ruddy said.
Nacion-Ograyensek said she and her husband recently revisited the short sale house in Altamonte Springs and decided it was worth the gamble. The kitchen is ideal for cooking, and the backyard is large enough if they have children or adopt a dog. They have decided to stick with their plan; still, each day that passes makes them more anxious.
In hopes of capturing tax credit-motivated buyers who aren’t focused on distressed properties, Florida’s real estate agents have scheduled an unprecedented statewide open house of properties listed for sale. The event, organized by the Florida Association of Realtors, is set for April 10-11—just two weeks before the tax credit deadline.
Kathleen McIver-Gallagher, chairman of the Orlando Regional Realtor Association, said buyers intent on getting the tax credit should be concerned if they are trying to purchase a short sale through lenders known for slow responses to short sale offers.
As the April tax credit deadline nears, buyers will probably become more interested in homes other than distressed sales, McIver-Gallagher said. “There are plenty of regular homes out there,” she added.
Compounding the delays are new reporting rules that lenders must now follow. Nate Morris, vice president of Thomas Mortgage and Financial Services, said the new requirements involve good faith estimates and HUD closing documents. “It certainly could further complicate things,” said Morris, a board member of the Mortgage Bankers Association of Florida. “I don’t see this working out till the middle of the year. Everyone in the mortgage business talks about it on a daily basis.”
(c) 2010, The Orlando Sentinel (Fla.).
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