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Atlantic City, NJ Real Estate News

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
    I don’t believe in coincidences .In High School, I would get a jobas a Bus Boy in Paoli,PA at a placecalled Charlie Brown’s. One year later a friend of mine and I decidedto spend the Summer in OC, NJ .Down the Shore , say the Locals.      The owners CB’s decided to open a Restaurant near the Atlantic City Race Track . It would be called the Library III . I became the backup Bar Tenderat age 18-19 ! ( and bus Tables for tips)We worked there for 3 Full Summers .       Today is Called - LB 1 , but is set with the primary menu of Library 3 .They have a Special Oven just to cooktheir Amazing Prime Ribs . They have numerous cuts of Steaks and will cutit to your desired oz.’s . Seafood options are excellent and their Salad Bar is outstanding ( I had huge Salads for the3 Summers I worked th...
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By Joseph Cacciapaglia
(BMC Capital)
Those of you who have followed my blog for a while have probably noticed that the subject has slowly changed.  Over the past year or so I was focused primarily on foreclosed properties and short sales.  While we were in a foreclosure crisis, I spent most of my time trying to help homeowners in need.  I'm still helping the occasional homeowner with their foreclosure, but now I've again switched my focus to where I think the greatest opportunities are.  Houses are cheap all over South Jersey, but I have found that there are particularly good deals in the Atlantic City Condo Market.  If you are an investor or first time homebuyer, this is a market that you can't ignore. If you're interested in buying or selling a condo in Atlantic City, give me a call today. Joseph Cacciapaglia, MLERERealt...
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This article was welcome news.  I did notice an uptick in my own sales as well.  As it mentions though, there isn't much time left to take advantage of the first time homebuyer tax credit. If you're interesed in buying or selling a home, give me a call today. Joseph Cacciapaglia, MLERERealtor Associate®R&I Realty15 Potter StreetHaddonfield, NJ 08033Office: 856.795.3111 x268Cell: 979.218.2286Jcacci1@gmail.com
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This is a great article about buying a condo today.  It points out many of the issues to consider when purchasing a condo, and is a very good starting point. If you're interested in buying or selling your home or condo, give me a call today. Joseph Cacciapaglia, MLERERealtor Associate®R&I Realty15 Potter StreetHaddonfield, NJ 08033Office: 856.795.3111 x268Cell: 979.218.2286Jcacci1@gmail.com
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This article makes a great point that I've discussed with several potential sellers.  In this market, many homeowners could benefit from trading up, even if they are selling at a loss. If you're interested in trading up, give me a call today.  Joseph Cacciapaglia, MLERERealtor Associate®R&I Realty15 Potter StreetHaddonfield, NJ 08033Office: 856.795.3111 x268Cell: 979.218.2286Jcacci1@gmail.com
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By Dustin A. Peters, Your "Northend & Gardens" Contact in Ocean City!!!
(Goldcoast Sotheby's International Realty)
My favorite section in The Press of Atlantic City is "AT THE SHORE TODAY."   For the first time ever, I now receive a daily morning newspaper delivered to our front door (actually on the front sidewalk) and early enough (about 5:30 AM) that I am able to read the paper before heading off to work.  That's a seven day a week paper (which, of course, includes the Sunday edition).  I've found THE PRESS to be a very good newspaper ... didn't expect that to be a local one from Atlantic City.  The coverage in South Jersey is great, also some national news, good sports, and local happenings. TTHE PRESS's section, AT THE SHORE TODAY, is in each day's paper, but the weekend one includes a full page.  I have discovered events and activities not only in Ocean City (NJ), but all over the place.  As a...
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By Julie Staradumsky, CREN
(Keller Williams Realty - Atlantic Shore)
Guidance on How to Use the Tax Credit with FHA Loans On May 29, 2009, US Department of Housing and Urban Development (HUD) announced a program that allows borrowers to use the first-time homebuyer tax credit for a down payment or closing costs on a FHA-insured mortgage. Since the announcement NAR has received many inquiries from our members regarding how this impacts first-time homebuyers in their state. Currently, 10 state housing finance agencies (HFAs) offer a product buyers can use that will effectively monetize the tax credit for down payment purposes. Generally, these programs offer tax credit advances with second liens on the home being purchased. The second lien may be "soft" (silent) or require monthly payments but may not result in cash back to the borrower and may not exceed ...
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By Matthew Haviland
(Keller Williams Realty Atlantic Shore)
Atlantic County, NJ June 2009 Real Estate Market Statistics View more Microsoft Word documents from Matthew Haviland. Here is an updated market report as of June 2009.  Home saled increased in May which is normal for the spring season.  Home prices continued to drop last month.  We thought that we may see a slight increase in home prices for home priced under $200,000 but new forclosure activity is contunuing the downward slide in prices. This market provedes a great opportunity particularly for first time home buyers.  First time home buyers can take advantage of dropping prices, lower interest rates, the $8,000 tax credit and 100% financing options.  Home owners can also take advantage of this market by moving up to a larger home.  Moving up in a buyers market will actually save you m...
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By Matthew Haviland
(Keller Williams Realty Atlantic Shore)
Did you know there is a $8,000 tax credit for first time home buyers who purchase a home before November 1st? This is a historic opportunity for first time home buyers. If you know of anyone who is renting or has not owned a home in the past three years please forward this email with the details on the program. To stimulate the economy, Congress has passed a tax credit of up to $8,000 for first-time buyers. Overview: The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000. Example: Homes costing $80,000 and above would yield a maximum tax credit of $8,000 for the buyers. The tax credit does not have to be repaid. It is a credit and will show up as a refund for most people. Example: You paid $10,000 in taxes this year and after completing your taxes f...
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This Thanksgiving lets remember how blessed we are. We have food, homes, great friends and wonderful families. Many of our neighbors are without these things this Thanksgiving. Homelessness can happen to anyone and it happens for many reasons. On Saturday all of us at The Haviland Group will be participating in a Turkey Trot walk/run to help the homeless and needy. We are asking our friends and family to make a donation to sponsor us. Money raised will go to help homeless men, women and children at The Atlantic City Rescue Mission. We've set up an online donation page that allows you to donate quickly and easily. So please take a moment and help those who are less fortunate this Thanksgiving. http://www.active.com/donate/rescuemission Thank you again and have a wonderful Thanksgiving ho...
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By Carol Ruffu
(Keller Williams Realty Atlantic Shore)
WHY RENT WHEN YOU CAN BUY Why pour money into your landlords pocket? How much rent do you pay? The following chart shows how much you pay to your landlord.  This money could be used to pay a mortgage on a home that you own.  If you buy a home by June 2009 you will be eligible to receive up to $7,500 from the Federal Government and there are down payment assistance programs available from Atlantic County and for those who work & live in Atlantic City you may be eligible for grants from the City. Call me today at 609-457-7397 for more information on all funding programs and properties available in Atlantic City or Atlantic County. STOP PAYING RENT MONTHLY RENT  AFTER 3 YRS  AFTER 4 YRS  AFTER 5 YRS  AFTER 6 YRS $700                  $25,200          $33,600      $42,000         $50,400 $8...
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By Carol Ruffu
(Keller Williams Realty Atlantic Shore)
WELCOME TO THE NEIGHBORHOOD Live, work & invest in Atlantic City. Atlantic City has always been a City of neighborhoods.  In the early 1800's a group of Italians settled between Missouri & Texas Avenues, from the Beach to the Bay, in a neighborhood that became known as "Ducktown". My great grandparents were among these settlers and brought with them my grandfather as an infant. He grew up to be Mayor Anthony Ruffu, the mayor when the anchor of of Ducktown opened, Convention Hall, a state of the art center with the famous dome roof. Atlantic City has gone through several growth spurts since the gaming referendum was passed and the first casino opened in 1978.  Our residential neighborhoods are also going through these growth periods block by block.  The first residential redevelopment pr...
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By Carol Ruffu
(Keller Williams Realty Atlantic Shore)
The coveted, premier development parcel on the East Coast is officially up for sale.Mayor Evans announced that the Requests for Proposals for Bader Field are available to anyone interested. All proposals must be submitted by 5pm January 14, 2009.  The RFP is looking for a developer or several developers with the best ideas and concepts to maximize the potential of this 150 acre waterfront property.  The proposal could include, but not limited to, casino, hotel, retail, entertainment, residential and commercial uses in a vibrant mixed-use waterfront resort and entertainment district. As the process progressed from public forums for input in the future development of Bader Field that were conducted in all 6 Wards to the public meetings that were held for residents input in the development...
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By Maria Sacco Handle
(Berkshire Hathaway Fox & Roach, Relators)
As promised, I am following up on a very positive conference for the future of Atlantic City's growth. There were many very positive announcements given by many of the key players in Atlantic City. I wanted to highlight some of them most important points that I believe prove that the future is very bright not only for Atlantic City but also Brigantine! Rich Fields, CEO of Coastal Development, announced that they have secured their financing for the purchase of Trump Marina and are scheduled for a 1st quarter 2009 settlement for the new Margaritaville themed Casino!!! There are currently $15 billion worth of Casino Investments slated for Atlantic City, $5 billion more than previously stated!!! In the next 5 years the Atlantic City job market is projected to expand from the current 40,000...
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By Carol Ruffu
(Keller Williams Realty Atlantic Shore)
Atlantic City and surrounding communities are a great place to live or invest in income properties. Despite some negative press, Atlantic City is moving forward with major construction projects one of which is Revel's exciting new Casino that will rejuvenate the South East Inlet and revitalize continuing investment opportunities in residential housing in the North East Inlet.  Many new jobs and management positions are now being created by this construction phase and many more jobs will be created as the Casino opens. Right behind Revel is the Pinnicle Project, MGM Grand in the Marina District and a mega Casino Resort proposed for the Chelsea Section at the beach end of Albany Avenue all creating the need for housing. Already open is the exciting and beautiful Chelsea Hotel on Chelsea A...
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By Gene Takach
(Century 21 O'Donnell)
Legandary rock Band will Perform At The Borgata on October 31 2008. Tickets on sale Saturday July 19 at 10am. Call Borgata or 1-866-900-4849 What would be better than the Who for Halloween? All this and more!!! Atlantic City - Brigantine one great area!
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By Lawrence Yerkes, Broker Associate, Southern New Jersey Real Estate Services
(RE/MAX Preferred)
For those that were not able to see the Mummers at the Philadelphia Mummers New Year's Day Parade, now you can see them live at the fabulous Philadelphia Mummers Show of Shows, presented by Trump Entertainment Resorts.  It will be held Saturday February 23, 2008 at the historic Boardwalk Hall in Atlantic City, NJ. See up close the prize winning performances and spectacular costumes of the String Bands from the comfort of your seat at beautiful Boardwalk Hall.There will be 2 shows at Noon and 5:00pm. Don't wait until after New Year's Day to order your tickets. Seats will be available, including limited "Golden Circle" floor seats. Get your tickets at the Boardwalk Hall Box Office or at all Ticketmaster locations, toll free at 1-800-736-1420 or online at ticketmaster.com. Group pricing is...
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By Lawrence Yerkes, Broker Associate, Southern New Jersey Real Estate Services
(RE/MAX Preferred)
If you live in Southern New Jersey or the Delaware Valley area, or plan on vacationing on or near the Jersey Shore, you can hear Tony Bennett live, in concert, when his tour stops over in Atlantic City for two shows at the Caesars Palace on August 24th (10 pm) and 25th (9pm). For more information about what you can expect at the concert, see my other article talking about my experience when Tony Bennett recently appeared at Wolf Trap in Washington, D.C.:Tony Bennett: The Best Is Yet To ComeThere are many more opportunities for concerts and entertainment in our area all year long.  Click here for more area attractions.  For real estate resources, help and support services in acquiring or selling properties in New Jersey, Visit my web site: LawrenceYerkes.com   and visit Besthomes-NJ.com ...
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By Lawrence Yerkes, Broker Associate, Southern New Jersey Real Estate Services
(RE/MAX Preferred)
Because of the broadcast of his international concerts on local PBS TV in the Delaware Valley, Andre Rieu and his Johann Strauss Orchestra is fairly well known and popular in the region.  I must confess that while I was aware of this Dutch born violinist and his orchestra, I have never watched a complete show on TV or purchased any of his recordings.  However, this past weekend, I was given a set of free tickets to attend his concert at the Boardwalk Hall (the original Convention Hall) in Atlantic City, as the original ticket holders could not make it because of the bad weather (heavy rains). I enjoy music and have fairly eclectic music tastes, so I did not want to miss an opportunity for a new musical experience and accepted the tickets on short notice.  Since it was over a weekend wit...
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By Lawrence Yerkes, Broker Associate, Southern New Jersey Real Estate Services
(RE/MAX Preferred)
On advantage living in South Jersey is the access we have to major music and comedy concerts and entertainment in Atlantic City.  Often, you may have several choices in a week or even several on the same day.  This goes on all year long.For example, my son and I decided to attend the recent Trans-Siberian Orchestra concert at the Atlantic City Boardwalk Hall, formerly the original Convention Hall, that has been upgraded for modern performances. We had an easy drive down to Atlantic City (under an hour) and parked in one of the many high-rise parking facilities, in our case Caesar's.  Then walked inside and had a choice of several places to eat -- within Caesar's or in many of the other nearby casinos.  We decided on a buffet.  Upon eating all we could handle, we walked a few blocks down...
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