Mountain Lakes, Boonton Township New Jersey Homes for Sale

87 Ball Road Mountain Lakes New Jersey

 “The word that is best loved in the language of every nation is home, for when a man’s home is born out of his heart and developed through his labor and perfected through his sense of beauty, it is the very cornerstone of his life.”Gustave Stickley (Founder of the Arts and Crafts Movement)  

Welcome Home to 87 Ball Road Mountain Lakes New Jersey…

Herbert Hapgood, a developer, was solicited in 1908 to head up a new development that was to be a retreat from the polluted, busy New York City life.  The vision included a return to the simple life of the rural community and the arts and crafts designs of Gustave Stickley.  The Arts and Crafts movement, which began in Europe, was founded in the belief of preserving family life and stability and building with quality, natural materials.  The community he envisioned included man-made lakes, parks and walking paths.  The homes were built out of natural materials readily available such as chestnut wood, oak and field stones.  The homes included the “family Hearth” as the center of the home.  Here the family could gather and spend time together.  That community is Mountain Lakes. Hapgood built nearly 500 homes, but like many of the builders of the Arts and Crafts Movement, his endeavor failed.  After Haphood fled to avoid bankruptcy, the Belhall Company took over the development.  There were 60 Belhall homes built, of which 57 still exist today.  These homes maintain many of the features of the arts and crafts homes.  They maintained the vision of the importance of family life and the stability of the Mountain lakes Community.

The Belhall Company also fell into debt during the depression years and the company’s land holdings were divided to pay off debts and tax liens.  Utilizing the town’s tax liens on the Belhall properties, the Borough of Mountain Lakes was able to purchase most of the land.  After World War II, building resumed in Mountain Lakes.  A variety of home styles were erected on available land.  The Borough sold its properties and approximately 28 new homes were built each year until a moratorium on further land sales was declared in 1974.  Beginning in 1964, the town began to set aside land for town parks.  Today, the town maintains a total of 673 acres as environmentally designated areas.  This includes the chain of 9 lakes, right of way parcels and town owned open spaces.  Few homes were built after 1960 because the land for development was not available.  Today there are very few new homes in Mountain Lakes because the land is not available.  Newer homes are built on lots where another home has been torn down. 

87 Ball Road is a fine example of a new home meticulously planned, built and maintained.  This home not only provides the luxury of new technology, but also preserves the charm and integrity of a community also carefully designed, built and maintained.  Indeed this home fits right in with its circa 1912 neighbors; the impressive exterior is of stucco and craftsman design.  The original vision of the Mountain Lakes community as one where nature could be enjoyed while enjoying family life is maintained in this grand rendition of craftsman design and quality.

Visit:  www.87BallRoad.com  or contact listing agents, Virginia, Ginny Cassidy or Cynthia Grebenstein of the RealitivityTeam, www.RealitivityTeam.com to learn more about this wonderful home available for sale with RE/MAX Superior Homes in Mountain lakes NJ  973-334-3500.

136 Ball Road, Mountain Lakes, NJ

The home at 136 Ball Road in Mountain Lakes New Jersey is full of surprises.  From the curb, this charming cape with its new roof, vinyl siding and freshly painted shutters, is the façade for the deceptively large home inside.  Once inside, visitors are greeted with a meticulously maintained and updated home.  The spacious living room with beautiful wood flooring and wood burning fireplace is just off the entrance to the home.  A lovely room for entertaining and relaxing, this large room is bright and sunny with a large window overlooking the beautiful front yard.  To the right of the entrance is the formal dining room.  Two large windows, a built-in closet and wood flooring enhance this room located just off the kitchen.  The updated kitchen includes plenty of room for a table and has updated cabinetry and a door to the side yard.  The kitchen opens to a welcoming family room with a newly updated powder room off this space.  Along the back of the home, accessed through the family room is a spacious 3 season porch.  This room overlooks the back yard.  The first floor also includes a functional office located off the living room.  This room is currently used as a music room.

The home has 4 bedrooms with the option of a first or second floor master.  The first floor master bedroom has a wonderful full bath with neutral custom tile and stunning vanity.  The second floor of this home houses 2 additional bedrooms and another full bath.  The larger bedroom includes a walk-in closet and has plenty of room for a sitting room.  This bedroom is the optional second floor master bedroom.  The full bath on this floor could be used as a shared master bath situated between the optional master bedroom and the other bedroom on this floor.

The lower level of this home spans the entire footprint of the home and is completely finished.  Located on this level is another bedroom, a den, an office area, exercize space, laundry room and another full bath. 

The many updates this home offers include:  all new windows, three full and one half updated bathrooms, newer kitchen cabinets, refinished wood floors, fresh paint and many updated light fixtures.  Spacious and well-designed, this home offers much more than similarly priced homes. 

The exterior of this home is also well designed and includes various spaces and pathways within its .34 acres of land.  A patio, deck, play ground area and many walking paths are situated among beautiful perennials and manicured gardens.   

Delightful, this amazing home offers a big lifestyle and surprises at every turn.  Definitely not a drive-by, be sure to come inside and wander around the exterior pathways to find a place that you will not only say is deceivingly large, but  the kind of place you will want to call home.

This home is available for sale through RE/MAX Superior Homes in Mountain Lakes.  The asking price is $639,000.  For more information, please contact the listing realtors, The Realitivity Team, Virginia “Ginny” Cassidy and Cynthia “Cindy” Grebenstein.  They can be reached at 973-334-3500.  You can also learn more about this home by visiting its website:  www.136BallRoad.com. 

Wind along Sun Valley Way in Morris Plains, past the park, beyond the neat rows of homes, up a slight hill to arrive at 155 Sun Valley Way.  A new paver walkway  leads to this contemporary home with traditional flair. 

 The unique layout provides a traditional interior with exceptional architectural details enhanced by the contemporary style on the exterior.  Entering the home, visitors expect to find an interior also modern in style.  Although there are several features indicative of a contemporary home including large windows, soaring ceilings, skylights and open spaces, the basic layout is that of a traditional center hall colonial. 

The foyer with its soaring ceiling and open staircase welcomes visitors to this special home.  The traditional layout situates the dining room to the left and living room to the right.   Dressed up in classic stripes below its chair rail and topped with crown molding, the formal dining room presents a fashionable room for dinner parties, celebrations and family gatherings.  The living room that flanks this room across the foyer,  is a lovely space for formal entertaining with a welcoming feel.  Large windows, wood flooring and custom molding distinguish this room.  At the end of the entrance hall is the sunny kitchen.  A large window in this eat-in kitchen overlooks the spacious property.  Plenty of cabinets, a center island and access to the mudroom/laundry room complete this well-designed room.  Open to the kitchen is the family room with access to the back deck.  Custom features in this room include: soaring beamed ceilings, a lovely gas fireplace with floor to ceiling surround, sliding doors, two levels of windows and newer wood flooring.  A stunning powder room with designer paint and custom lighting is located off the foyer hall.

Upstairs, this home offers 4 bedrooms and 2 full baths.  The highlight of the master bedroom suite is the spectacular spa room.  This room with two skylights an oversized jetted tub and sloping ceiling,  provides a serene retreat, a delightful haven to enjoy at the end of the day. The attention-grabbing hallway overlooks the front foyer on one side and the two story family room on the other.  The interesting design positions two bedrooms on each side of the connecting open hallway.  

Additional spaces in this home include the basement and attached garage.  The full basement includes a finished den and unfinished space perfect for a workshop or storage. There is a two car attached garage with electric door openers and additional storage space.  

Outside, a new paver walkway leads to the front door.  Handsome landscaping fills the front gardens leading to the entrance.  The yard, fenced in the back, includes a two tiered deck accessed from the kitchen and family room.  The large property encompassing .66 acres, backs to woods and appears endless providing a sense of privacy and lovely views. 

155 Sun Valley Way is a home sure to please traditionalists, those seeking something a little different and proponents of contemporary design. Designed for today’s lifestyle, yet offering interest and exceptional details, this home is uniquely contemporary  on the outside while traditional on the inside.  It well designed for enjoying every day life, for formal and casual entertaining, and is conducive for today’s lifestyle. The unique design creates a home that lets you color outside of the lines while staying within the book. 

For more information about this home, please contact Virginia “Ginny” Cassidy, Sales Associate with RE/MAX Superior Homes.  Ginny Cassidy can be reached at 973-334-7555 ext. 2347  Website:  www.ginnystagesandsells.com .  Additional information is also available at the home’s website.  Please visit:  www.155SunValley.com. 

Stunning Colonial for Sale  in Boonton New Jersey

562 Fanny Road in Boonton New Jersey

Moving into 562 Fanny Road is as easy as turning a key.  Custom designed and decorated, this home, completed in 2004, was one of 8 properties built in the development known as Oak Hollow at Boonton.  Customized by the current owners, it provides upscale living and shows like a model home.   Meticulously maintained and upgraded with custom moldings, designer window treatments, beautiful granite and designer touches, it is truly “turn-key”.

Professionally landscaped with manicured gardens, this home commands attention from the street with its stately stucco and stone construction and spectacular imported front door.  Once inside, visitors will not be disappointed.  The spectacular two story foyer with sweeping staircase and craftsman style light fixture welcome guests to this center hall colonial.  Arched doorways grace the first level and wood flooring covers the entire first floor.  The living room with wall sconces, tall windows and crown molding is perfect for entertaining.  Across the hall, the formal dining room is a show stopper with custom molding including a chair rail, spectacular designer drapes and crystal chandelier.  The kitchen and family room are located at the back of the first floor with French doors leading to the back patio.  A lovely fireplace wired for a large screen television is at the far end of the family room.  Granite, custom cabinets, stainless steel appliances and a Viking stove with hood grace the chef’s kitchen of this lovely home.  Additional rooms on the first floor include a laundry room with custom cabinets and a beautiful powder room with designer vanity.

This four bedroom home includes a full in-law suite in the lower level.  An additional bedroom, full bath, kitchen area and great room are located in the walk-out lower level, accommodating a multitude of lifestyles.  There is a separate entrance accessible just off the driveway of the home.  Families needing a nanny suite, accommodations for an older child or an in-law suite will find what they are looking for at 562 Fanny Road.

  The three additional bedrooms are located on the second floor of the home.  Climbing the turned staircase with oak banister and acorn finials, the upper hallway overlooks the beautiful foyer below.  Off to one side of this floor, the master bedroom suite includes two closets (one is walk-in), a stunning master bath with custom tile and a spacious bedroom.   The two additional bedrooms on this level have beautiful ceiling fans and custom window treatments.  These bedrooms are serviced with a lovely hall bath.

Centrally located in the Beautiful Park Section of Boonton, this property offers convenience with its central location.  Walkable or just a short drive to many necessities, this location is a tenth of a mile from the YMCA, a short drive to Route 287, a half mile to the Town of Boonton with its restaurants and stores, a half mile from the train station and a tenth of a mile from a town park. 

Offering all the upgrades today’s buyers are looking for, plus custom landscaping, designer window treatments, a full finished basement with complete in-law suite this home is better than new!  This “turn-key” home offers a carefree lifestyle with easy access to transportation, shopping and parks.   Convenience, space and upscale living are just a turn of a key away.

To learn more about this home, visit:  http://www.562FannyRoad.com or visit my website:  http://www.ginnystagesandsells.com.  

Welcome Home to 577 Rockaway Valley Road

Not your typical center hall colonial!  This exciting home with great layout and interest at every turn will delight home searchers tired of the same old floor plan.  This home offers a first or second floor master suite and the possibilities are endless with the flexible floor plan.  This home easily accommodates:  a home office with separate entrance, an in-law suite, an exercise wing, a growing or downsizing household and space for the car hobbyist in the 3 car heated garage.

  Set back from the road behind a wooden privacy fence with rolling gate, the home’s .91 aces are stunning.  The private, wooded property set in Boonton Township offers a quiet oasis to return to at the end of the day.  Situated between Boonton and Denville, this unique location offers easy access to shopping, transportation, restaurants and train stations.  Desirable Boonton Township plus award winning Mountain Lakes High School are part of the package of this serene location.

The first floor of this home has an open floor plan creating the perfect setting to entertain.  The large eat-in kitchen has plenty of cabinets and counter space for food preparation plus a large pantry.  The well-placed center island is convenient for extra helping hands in the kitchen or to enjoy morning coffee.  Open to the kitchen, there is a separate dining area overlooking the beautiful grounds.  A complete wall of windows set on an arch provides a private setting for intimate dinner parties.  Off the kitchen is the large great room with its soaring ceiling and wall of windows.  The large fireplace at the far wall competes to be the focal point of the room with the windows overlooking the incredible side deck.  There are two bedrooms on this floor. The larger of these bedrooms is an optional master suite utilizing the full bath with Jacuzzi style tub and stall shower on this level.

 The second floor is accessed through the main staircase off the kitchen or off the sauna room next to the 3 car garage.  This floor has a versatile floor plan with many possibilities.  The master bedroom at the top of the stairs has an adjacent sitting room overlooking the backyard.  There is a very spacious walk-in closet in this room with custom shelving.  The master bath boasts sunny windows, a Jacuzzi style tub and a stall shower.  Down the hallway, you will find an office or dressing room area, another bedroom, full bath and an exercise room.  At the very end of the hall the door leads to the second deck of the home with a birds eye view of the backyard.  The hall staircase leads down to the conservatory with a home sauna.    This home also includes a 3 car 900 square foot heated garage.  This space is perfect for the hobbyist or car buff.  Additional upgrades and features include:  a newer septic system, an above ground oil tank, newer central air and multi-zoned heating system plus one new hybrid system, and public water.   

Set off the beaten path, yet close to everything, this home might confuse you as to whether you are truly at home or on vacation.  Come visit and find out what resort living at home is all about!

This home is listed with Virginia “Ginny” Cassidy, Luxury Home Marketing Specialist at RE/MAX Superior Homes in Mountain Lakes www.ginnystagesandsells.com.  It offers five bedrooms and 3 full baths, plus .91 acres on the level lot.  The asking price is $672,500.  Please call Ginny Cassidy at:  973-334-3500 to schedule a showing.  More information is available at the home’s website:  www.577RVRoad.com. 

View a video of this home: 

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Home for Sale in Rockaway Township, 16 Crescent Ridge Road

The Stunning setting on 2.28 pastoral acres in Rockaway Township is perfect for the stately colonial at 16 Crescent Ridge Road.  Surrounded by trees, this seemingly remote property is actually just a short drive from shopping and major routes.  A quick 5 mile drive brings you to Denville Center and a 3.5 mile ride will get you to the center of Boonton.  There are train stations in both Denville and Boonton and Route 287 is less than 4 miles away.  Nature, privacy and serenity await you at home, while work, shopping and entertainment are close at hand.

The home was built in 1994; it has been meticulously maintained and offers a wonderful layout.  Traditional in appearance, the home boasts a brick front and offers the popular center hall layout with many newer features today’s buyer is looking for.  Large entryways to the first floor rooms give the illusion of open space while the clearly designated rooms offer spaces for intimate gatherings.  A large back deck accessible off the kitchen allows the entertainment flow to extend outdoors.  Here guests can enjoy the beautiful back yard surrounded by woods.

The grand entrance to the home through the double doors leads to an open foyer with vaulted ceilings and a turned staircase.  A dramatic living room is to your right.  This room offers vaulted ceilings, a large Palladium window and gleaming wood floors.  A step up leads to the spacious dining room with a large window and half wall separating this area from the living room while allowing the open feel characteristic of this home. Adjacent to the dining room is the large kitchen offering a sunny breakfast nook with a bay window and sliding doors to the back deck.  This room has a wonderful layout offering plenty of cabinets and countertop space.  A welcoming family room is open to the kitchen.    The focal point of this room is the floor to ceiling stone fireplace.  Additional rooms on the first floor include:  a study/bedroom, the laundry room and a full bath.  There is a possibility of an in-law suite or nanny suite on this level.  Easy access to the two car garage is located just off the laundry and family room area.

The second floor of this home offers 4 bedrooms and 2 full baths.  The master bedroom suite overlooks the wooded back yard and offers plenty of space for a sitting area.  The luxurious master bath is designed with custom marble and includes a whirlpool tub and stall shower with glass door enclosure.  This sunny room enjoys views of the wooded yard through the large bay window surrounding the tub.  Three additional bedrooms on this level offer double closets and ceiling fans.  A stunning hallway bath includes a double sink, tub/shower and ceramic tile.

 Additional finished space is located in the full basement offering a spacious recreation room, plenty of storage and closet space.  Further updates and features include:  a security system, new furnace installed in 2007, new central air, easy clean windows, newer well, French drains and sump pump.

Nestled in the woods, yet close to the bustle of Denville and Boonton, this meticulously maintained home offers the best of both worlds.  Traditional in appearance and layout, this home also offers an exciting twist on the center hall colonial with tasteful architectural features such as vaulted ceilings and step down entryways.  This home is truly a home for today’s buyer offering popular modern features; however the traditional foundation of its design ensures that this home will always be in style.  

This home is listed with Virginia “Ginny” Cassidy, Luxury Home Marketing Specialist at RE/MAX Superior Homes in Mountain Lakes (website:  www.ginnystagesandsells.com) .  The asking price is $669,000.  To schedule your private showing please call Ginny Cassidy at:  973-334-3500×2347.  Additional information is also available at the home’s website:  www.16crescentridgerd.com.

About 12 Hillcrest Road A Mountain Lakes Home for sale

In the town of Mountain Lakes, the story is told that the original developer, Herbert Hapgood, utilized creative financing to develop the town.  In fact, rumor has it that Hapgood built his Craftsman style homes with two “fronts”; both the rear of the home and the actual front appeared to be the front of the property.   The financing he requested from a New York bank was for two houses, not just the one he actually built, and one home was submitted as two utilizing the front and back photo.

 The home at 12 Hillcrest Road is an excellent example of Hapgood’s strategy.  Spanning between Hillcrest and Ball Roads, the lot allows a “front” view from both sides.  The current driveway, accessible from Hillcrest Road, is 300 feet and freshly paved leading to the home’s main entrance. The view from Ball Road, however, gives the appearance of the front of the property.  That view, the current back of the home, seems to be an enclosed front porch.  12 Hillcrest Road, charming and private, is a prime example of Mountain Lake’s rich historical past.    Having arrived at 12 Hillcrest, the slate porch opens to a sunny foyer welcoming visitors to this historic, well maintained home.  The living room and dining room still have the original, refinished parquet oak floors with inlaid mahogany border.  The woodwork in both of these rooms is the signature Hapgood rare chestnut wood, a material no longer available due to the Chestnut Tree Blight.  Coffered ceilings grace both rooms and a large brick fireplace warms the home in cooler months.  The spacious, updated kitchen is located off the dining room with a family friendly layout.  The breakfast bar island plus the separate eat-in area provide plenty of seating in this well designed kitchen.  Plenty of room for storage, and food preparation plus new appliances and wood flooring laid on the diagonal, blend this renovated space with the original home.  Across the dining room, is the spacious family room overlooking Ball Road and the home’s mature trees.  From this vantage point there are also stunning views of the New York City skyline from the room’s two large bay windows.  The family room measures 11 feet by 24 feet in size and has one wall with custom book shelves and media storage.  Just off this room is the sunroom leading to the large, private deck. 

Three large bedrooms plus a laundry room and full bath are located on the second floor.  The original master bedroom measuring 15 by 12 is located on this floor.  There is currently a master bedroom suite on the third floor with a walk-in closet and full bath.  However, the layout allows for the master to be located on the second or third floor of this home.

Location, condition, property, views and charm are all part of the package at 12 Hillcrest.  Barely visible from Hillcrest Road, this home is a true oasis located between two of the town’s most popular streets.  All three of the town’s schools, the library, post office, bus, train, the Main Lake and the Midvale Boat Dock are just a short walk from this location. 

The home is listed with RE/MAX Superior Realtors in Mountain Lakes.  For further information, please contact listing agent, Virginia “Ginny” Cassidy, Luxury Home Marketing Specialist at 973-334-3500 .  You can also visit this home on the web at:  www.12hillcrest.com.  There is also information available at the listing agent’s website:  www.ginnystagesandsells.com. Come for a visit.  The “Long and Winding Road” from the entrance at 12 Hillcrest could be leading to YOUR  door.  

Curb AppealThe majority of today’s buyers (over 90%) begin their search for a home on the internet.  These buyers modify their search by scrolling through the photos available on major websites such as Realtor.com, GSMLS.Com, WSJ.com and Trulia.com.  The first photo available to buyers searching for homes is most often the exterior photo.  Most home buyers will not look at interior home photos if they deem the home unattractive from its exterior picture.  What this means to sellers is they must make an extensive effort to maximize the curb appeal of their home to increase their chances that  buyers will select their home from those available in their price range.The best way to determine what needs improvement for your home’s curb appeal is to look at the front of your home from several vantage points.  Pay close attention to what the buyer will see as they approach your front door.  What does it look like as you drive by the home?  Many buyers do a drive-by before making an appointment to see the inside.  The front door and porch or front steps are what buyers notice first.  Make sure the door is freshly painted, the hardware is polished and the door color complements your home.  The front porch and entry way can be dressed up by flanking the door with matching planters.  The planters should be the correct size for the porch.  Ensure that the planters do not impede with walking to the door or entering your home.  A new or freshly cleaned door mat should be placed at the door to welcome buyers to your home.  As a final touch, nothing says “welcome home” like a beautiful front door wreath complementing the colors of your home.The front yard and planting beds should also be addressed.  Make sure your grass is mowed and all yard debris is removed.  Trim bushes and make sure trees and bushes are not blocking the front of your home.  Buyers should be able to see your home clearly from the street.  Make sure the positive features of your home’s exterior are visible.   Trim work, window moldings and architectural details should be visible to help sell your home.  Look at your home at night as well as during the day.  Make sure the home has sufficient lighting to the front door.  Many buyers visit homes for sale in the evening.  Polish the light fixtures and replace worn-out bulbs.  Make sure the path to the front door is visible and clear of any obstructions.  Check that stepping stones in your entry path are not tripping hazards.Finally make sure your front door opens and closes easily.  Your home should give the appearance that it is well-cared for.  Struggling with the lock or needing to use extensive force to push the door open does not give a good first impression of your home.  Buyers establish their impression of a home within the first few minutes.   A beautiful exterior enhances their view of your home and gets buyers ready to be impressed after they walk through your front door.To learn more about preparing your home for sale, visit my website:  www.ginnystagesandsells.com.  At this site you will find more ideas for sprucing up your home for sale and also find a slide show of “before” and “after” photos of a staged home.  

The number of homeowners in financial distress because of real estate is at an all time high.  The need for informed guidance from a trained professional is paramount for these homeowners.  There is help available.  The Distressed Property Institute is currently training Real Estate agents to provide guidance to homeowners facing financial crisis and also skillfully navigate through the systems to provide the owner with the best service and help them deal with their situation.

A typical market in the US would have approximately 1-3% of its inventory in some state of foreclosure.  In today’s market, we are seeing as much as 50% or more in states such as Florida and California.  In New Jersey, there were 5,757 filings for foreclosure in August.  All price ranges of homes are part of the foreclosure crisis.  Homes over a million dollars are the fastest growing category of homes filing for foreclosures. 

Homes become distressed for many reasons: job losses, adjustable mortgage rates that cause payments to be too high for the owner to meet and/or property values dropping leaving the home worth less than what is owed.  The homeowner does have options.  The government is now offering help through the Making Homes Affordable Act.  Their website is: HUD.GOV.  The possibility of working with a lender to sell the home in a “short sale” is another option for homeowners.  Using a short sale, the homeowner sells his/her home for what the market will bear and the bank “forgives” the balance of the loan.  This is a process that requires time and patience, but can be the best option for a distressed homeowner facing possible foreclosure.

Foreclosure is very detrimental to a person’s credit.  Foreclosure is the most detrimental credit issue a person can have affecting their credit; it is almost impossible to have it fixed.  Short sales can provide a better option.  Homeowners must qualify for a short sale.  There must be a valid reason why they cannot make their mortgage payments.  Utilizing a short sale is almost always mutually beneficial to the homeowner and the lender.  The homeowner will most likely be able to restore his/her credit in the future.  The lender will most likely net the most money for the property using a short sale over foreclosure.

For buyers, short sales often present an opportunity to purchase a home at below market value.  However, the process is time consuming as many banks are back logged with the growing number of short sales and the paperwork can be overwhelming.  Realtors knowledgeable of the process can help in navigating through this process, helping you obtain a home at a very good value.  Buyers interested in exploring purchasing a distressed property should contact a realtor knowledgeable about the process.  Short sale properties are most often listed with a licensed realtor trained in the short sale process. 

To find out more about Short Sales, visit the website for Realtors certified to handle the short sale process.  The website is:  www.CDPE.com.  I am certified to help with the short sale process.  Visit my website:    www.ginnystagesandsells.com to learn more or call me directly at: 973-334-3500. 

According to today’s Business Section in the Star Ledger (Tuesday, October 20, 2009), the number of foreclosures in the state of New Jersey has increased by 40% during the month of August compared to the same period last year.  This number is expected to decrease slightly in the coming months, but it is still mind boggling.  As the unemployment rate remains high and, as the Star Ledger points out, unemployment will not peak until next year, the high numbers of foreclosure proceedings will continue.  The majority of foreclosures are the result of job loss causing the inability to make mortgage payments.  Homeowners need to know there are options.  Foreclosure is devastating emotionally, financially and destroys credit ratings.  The government is offering programs to help and the option of working with the lender to obtain a “short sale” is often a far better option than foreclosure.

The government is stepping in to help with the foreclosure crisis by offering programs such as “Making Home Affordable” Program.  Many lenders are referring homeowners to organizations who will help modify their loans.  It is very important that homeowners experiencing trouble in making their payments contact their lenders to discuss their options.  Many are offering loan modifications.

The option of a short sale can be a viable option for homeowners who may face foreclosure.  The option to sell the property at market value that is below the amount owed can help homeowners avoid the devastating effects of foreclosures.  Foreclosure is the single most devastating credit issue and is almost impossible to repair.  The short sale option provides a venue to sell the home and restore credit for the future, sometimes in as short a period as two years.  For the bank, a short sale option almost always nets them more money than foreclosing on a property.  For more information on short sales, visit the website for the Distressed Property Institute, LLC.  Realtors, such as myself can obtain their CDPE “Certified Distressed Property Expert” to help clients of distressed properties navigate through a difficult situation and system.