Mother’s Day is around the corner and as the saying goes, Mom knows best.

As an Associate Broker/REALTOR® and mom of 2 boys, Ashley Houseman knows all too well how important it is to stay organized at home, especially when trying to sell a house! With open houses and buyers possibly stopping in at the drop of the hat, it is crucial for your house to shine at all times and even more important to maintain a normal family life during the process.

Check out the video above for Ashley’s tips and tricks to help you keep on top of your busy family life while working and trying to keep it in showing condition to sell to that perfect buyer.

Ashley Houseman( YES! Her last name has HOUSE in it) is an Associate Broker/REALTOR® with Coldwell Banker Morris Realty. in Punta Gorda, Florida. You can follow her on Twitter at@BrokerEXCLUSIVE

Special thanks to Ashley and her superstar Videographer husband John!

Dreaming of Owning a New Home this Spring or Summer? 

This is the best place to begin your search for homes for sale in the greater Southern New Jersey Coastal Region!

Click here for a complete list of all the participating Open Houses by Coldwell Banker Casa Bella Realtors, including results displayed on a map!

Featured Open House Listings:

Here is an interesting calculation….If you look at Atlantic County Median sales price in the 2nd & 3rd quarter of 2007 which was $256,000. And interest rates were at 6.5%. You would have a Principle & Interest loan payment of $1,618.

Today, with median home price down roughly 26% from the peak…currently, we are at a median price point of $190,000 and have interest rates at 3.5%. That P&I payment would be $853.

The same house today costs nearly half as much to own.

Here is an example of how 1% would impact a $200,000 30 year mortgage loan.

Here is a recent article from the Press of Atlantic City:

Posted: Sunday, April 14, 2013 12:00 am  |  By BRIAN IANIERI, Staff Writer

Morgan BrennanForbes Staff

Springtime is for selling houses. The months of April, May, June and July typically account for more than 40% of all housing transactions annually, in large part thanks to weather.

But unlike the painful post-bubble home buying seasons of the past several years, this year has kicked off amidst a cornucopia of experts trumpeting the U.S. housing market’s recovery. Inventory is at record lows, home prices are on the upswing and foreclosure activity has ebbed in many parts of the country. In 2012 residential real estate contributed its first positive year of gains to the overall economy since 2005, and the Federal Reserve has repeatedly called housing a “bright spot” of the economy.

The rosy recovery statistics have an increasing number of Americans feeling more confident about the prospect of buying a home.  A March survey from Fannie Mae revealed that 48% of consumers believe home prices will rise over the next year — an all-time survey high.  And another recent survey, from Prudential Real Estate, found that confidence is at a high of 69% among folks thinking about buying a home.

While promising news for aspiring sellers, it means that many of this year’s spring and summertime buyers will face a markedly different landscape than their predecessors did just a year or two ago. “In many markets around the country we have fundamentally shifted from a buyers’ market to a sellers’ market,” says Budge Huskey, chief executive of Coldwell Banker Residential Real Estate.

Here’s what you need to know about the market before you hunt for homes.

Inventory Shortages

“The story of the day is on the inventory front,” stresses Lawrence Yun, chief economist of the National Association of Realtors.  It’s a sentiment echoed by many.

The number of available homes has plunged to record lows, thanks to both an abnormally small supply of existing homes for sale and a dearth of new construction. Despite the fact that new residential construction is on the rise, the current annualized rate of 618,000 housing starts is still well below the 1.5 million annual starts indicative of a healthy market, according to experts. And with more than 10 million homeowners still underwater on their mortgages, many prospective sellers are holding off on listing until home prices strengthen further.

Coupled with the brisk pace of sales, there is currently 4.7-month supply of existing homes on the market (a six-month supply is considered healthy), according to the National Association of Realtors.  That’s nearly 20% less nationally that during this time last year, and in the most sought-after markets levels are down by as much as 50%, 60%.

Traditionally this time of year welcomes a jump in inventory levels as sellers time their listings with the buying season. But even an uptick in stock won’t be enough to fend off the looming shortages in some markets: “I don’t see any relief to the housing shortage. It can only come from new home construction, which will take time to come online,” says Yun.  He and other economists suspect inventory levels will remain tight throughout the rest of this year, especially since construction lending for many small- to medium-sized homebuilders remains constrained.

Increased Competition

In addition to a dwindling supply of available homes, the number of buyers has surged. And not traditional buyers. Investors have comprised a sizeable chunk of the buyer pool since the downturn and continue to do so. NAR estimates that real estate investors are responsible for about 20% of existing home sales each month.  In hard hit markets, particularly in Sun Belt states like Arizona, Nevada, California and Florida, domestic and foreign investors have been even more prevalent.

More interestingly, investors haven’t just consisted of mom-and-pop landlords and professional house flippers either. Wall Street institutions – private equity firms and hedge funds, predominantly – have allocated billions to large-scale single-family homes, snatching up distressed properties and transforming them into rentals, typically through bulk sales. Major Wall Street firms, including Blackstone and Colony Capital, have accounted for as much as 30% of sales activity in Miami, Fla., 19% of sales in Las Vegas, Nev., and 16% of sales in Phoenix, Ariz. in 2012, according to data provider CoreLogic, helping push home prices up dramatically in all three metro areas.

Investors aside, traditional consumers have been haggling over the most desirable properties — on good streets, near good schools, in move-in condition – as well. Realtors in many markets have been reporting bidding wars since late last year. “Prices are being bid up above asking price, particularly in the mid-range of the market,” says Huskey.  “In the Seattle market, for example, our agents say quality properties have been receiving six to 10 offers within the first week.”

He also notes that in areas where bidding wars have been especially prevalent, buyer tactics reminiscent of the housing bubble, for example, proffering photos of children and personal letters demonstrating why a bidder should be chosen, have begun to creep back into the marketplace.

What does this competition mean? That you the prospective buyer need to be prepared to move fast if you find a property you’d like to buy. “Buyers need to be patient because many will be outbid by others and might have to bid on multiple homes,” cautions Jed Kolko, chief economist of Trulia. “It also means thinking hard about the trade off: what you need to have in your home and what you’re willing to bend on because with tight inventory and lots of competition, it will be a temptation to take what you can get.”

Cash Is Still King

Given the steep competition, all-cash buyers who can close a deal relatively quickly offer great incentive to sellers. “Cash will still be king if there are multiple bids because from a seller’s view, they want a deal with fewer hiccups,” says Yun. About 30% of home sales are all-cash each month, according to NAR.

Over the past few years, mortgage lending has been incredibly tight – an irony given the fact that rates continue to hover near record lows. And due to the overwhelming number of foreclosures acting as comps, appraisals coming in under the agreed-upon price have steadfastly hampered many a financed deal.

The good news: LendingTree chief executive Doug Lebda says, in light of the recently unveiled new home-lending standards, lenders are slowly starting to make it slightly easier to get approved. “Lenders are reducing credit standards, allowing higher loan-to-value ratios than in the past,” says Lebda. “Nothing below the FHA and Fannie Mae and Freddie Mac guidelines, but they are underwriting closer to them.” And as home prices rise – Case-Shiller reported an 8% yearly increase in February – appraisals may begin to fall more in line with pending sales prices.

In the meantime, cold hard cash continues to hold sway in many markets, say realtors. To better compete against the speedy certainty that a stack of green promises, buyers taking out a mortgage should always get preapproval before they embark on their hunt and plan on plunking down a sizeable downpayment.

Less Distressed Deals

The good news for housing as a whole is that nationally foreclosure activity is falling. RealtyTrac reports 30 consecutive months of declines on a national level, driven largely by double-digit declines in many of the traditional foreclosure hotspots like California, Arizona, Georgia and Michigan.

Decrease in activity coupled with fierce competition from investors targeting distressed inventory means the possibility of picking up a decent fixer-upper at a discounted price from the bank has greatly narrowed. And when such a property does come to market, the discounts are much smaller than they once were. In February short sales and foreclosures comprised 25% of home sales,  down from 34% a year ago, according to NAR. And the discounts have diminished too: short sales fetched 15% discounts on average, foreclosures 18%.

“Foreclosure inventory has been somewhat picked over,” says Daren Blomquist, vice president of RealtyTrac. The largest distressed inventory increases have been among homes built prior to 1960 and/or valued below $50,000. “Finding one in a condition the buyer can work with in a decent location has become a challenge to find.”

Nonetheless real estate is local and, despite the drop in foreclosure activity nationwide, several states are actually experiencing significant increases in foreclosure starts, as lenders continue to process a backlog of defaults. This is especially true of judicial foreclosure states. “In some of the markets like Florida, New York, New Jersey, and Ohio, we have seen increases in foreclosure activity counter to the national trend,” notes Blomquist. “Many aren’t listed for sale yet so this season some of them will be will be. So from a buyer perspective there may be some more inventory in the pipeline.”

As the time to file income taxes approaches, we need to take a new look at the changing tax landscape for homeowners. The dynamic atmosphere in Washington, D.C. has a different effect each year on which tax breaks are proposed, rescinded, changed, and extended for taxpayers who own a home.

Thanks to the efforts of many real estate industry groups including the National Association of Realtors, many of the  tax benefits that homeowners enjoy–which were on the chopping block over the past few months–have been protected and extended through the 2013 tax season.

Disclaimer – This is only an informational summary of current tax issues in the news. If you need tax advice, please contact a tax attorney or CPA

1.  Mortgage Interest Deduction

The mortgage interest deduction has always been the most-beloved tax benefit of home buyers in the U.S.  New homeowners’ monthly mortgage payments are made up almost entirely by interest for the first few years. Their ability to deduct that interest can result in a healthy reduction in tax liability. Affordability for first-time home buyers is directly linked to their ability to deduct the interest on their mortgage.

Homeowners who itemize their deductions can deduct the interest paid on a mortgage with a balance of up to $1 million. While there is some movement to limit the total itemized deductions for taxpayers with higher incomes (over $400,000), the current deductions holds for all tax brackets. Americans save around $100 million every year by deducting mortgage interest on their tax returns.

2.  Home Improvement Loan Interest Deduction

The interest on home equity loans used for “capital improvements” to a home can also be a tax deduction. On loans with balances of up to $100,000, the interest is tax-deductible for a homeowner who uses the loan to make improvements to the home such as adding square footage, upgrading the components of the home, or repairing damage from a natural disaster. Maintenance items like changing the carpet and painting a home are usually not included as capital improvement projects.

3.  Private Mortgage Insurance (PMI) Deduction

Homeowners who make a down payment of less than 20% are usually paying some sort of Private Mortgage Insurance. PMI (sometimes abbreviated MIP or just MI), can be a few dollars to hundreds of dollars per month, and it is a large portion of many homeowners’ mortgage payments.

If your mortgage was originated after Jan 1, 2007, and you have PMI, it can be a tax deduction. The deduction is phased out, 10% per $1,000, for taxpayers who have an adjusted gross income between $100,000-$109,000 and those above that level do not qualify. The extension of this tax deduction in 2013 was one of many last-second saves by real estate industry advocates.

4. Mortgage Points/Origination Deduction

Homeowners who paid points on their home purchase or refinance can often deduct those points on their tax returns. Points, often called origination fees, are usually percentage-based fees which a lender charges to originate a loan. A one percent fee on a $100,000 loan would be one point, or $1,000.

On a home purchase loan, taxpayers can deduct the entirety of the points that they paid in the same year. On a refinance loan, the points must be deducted as an amortization over the life of the loan. Many taxpayers forget about this amortized benefit over time, so it’s important to keep good records on the deduction of points on a refinance.

5. Energy Efficiency Upgrades/Repairs Deduction

Homeowners can deduct the cost of the building materials used for energy efficiency upgrades to their home. This is actually a tax credit, one which is applied as a direct reduction of how much tax you owe, not just a reduction in your taxable income.

10 percent of the total bill for energy-efficient materials can be used as a tax credit, up to a maximum $500 credit. Insulation, doors, new roofs, and many other items qualify for the energy efficiency credit. There are also individual limits for certain items, such as $150 for furnaces, $200 for windows, and $300 for air conditioners and heat pumps.

6. Profit on Sale of Real Estate Deduction

If you’ve sold a home in the past year, you’re likely aware that individuals can claim up to $250,000 of profit from the sale tax-free, and married couples can claim up to $500,000 tax-free. Of course, there are some requirements to escaping the capital gains tax on this profit.

The home must be a primary residence. This means that you must have lived in the home, as your primary residence, for two of the past five years. You could rent it out for years one, three, and five, while living in it for years two and four. In this way, a homeowner could potentially claim this tax break on multiple homes within a fairly short time frame, but each tax-free sale must occur at least two years apart from the previous tax-free transaction.

7. Real Estate Selling Cost Deduction

For those lucky folks whose profits on the sale of their home might exceed the $250k/$500k limits, there are still some ways to reduce the tax burden.  The costs of selling the home can be significant, and those in themselves can be claimed as tax deductions.

By adding up all of the fees paid at closing, capital improvements made to the home while you owned it, money spent to make repairs to damaged property, and marketing costs necessary to sell the home, you can add a significant figure to the cost basis of your home.  This basically raises the original price you paid for the home.  Your cost basis begins with the original price of the home, and then adds in the improvement and selling costs.  When the new cost basis price is compared to your selling price, it reduces your potentially-taxable profit on the home significantly.

8. Home Office Deduction

The home office tax deduction is often cited as a deduction that increases your likelihood of being audited.  While the raw numbers might add some credibility to that perception, it’s really the way a home office is deducted that gets some taxpayers into audit purgatory.

This deduction, when used correctly, is just as safe as any other.  Homeowners deduct a percentage of their mortgage, utilities, and repair bills in direct proportion to the amount of their home that is dedicated office space.

There are a few hard and fast rules to live by when deducting the costs of your home office. The home office must be your principal place of business (the primary office location where you get the majority of your work done).  It needs to be exclusively used for business (it can’t be your kitchen by day and office by night).  You need to be realistic with its size and use (unless you enjoy audits).

9. Property Tax Deduction

New homeowners often don’t know that their property taxes are deductible.  While it may sound strange to have a tax-deductible tax, the overall effect is that you don’t pay income tax on money that was spent on property taxes.

Homeowners should be careful to only deduct the amount of property tax actually paid to their local municipality for the year. This is not necessarily the amount you paid to your escrow account, and should not include any other city/county fees that might potentially be on the same bill as your property taxes.

10. Loan Forgiveness Deduction

The Mortgage Debt Forgiveness Relief Act of 2007 was created when short sales were becoming a new and growing part of the real estate market. An underwater homeowner might convince their lender to agree to a short sale of their home at $100,000, even though they owe $150,000 on their mortgage. While the lender forgives the extra $50,000 owed after the short sale, the government views it as $50,000 in taxable income (a gift from the lender to the borrower).

The Debt Forgiveness Act temporarily relieved the taxpayer of that burden, but was set to expire this year. Through much effort, it was extended along with many other homeowner tax relief measures this year and homeowners can continue to claim this tax relief in 2013.

IRS-suggested disclaimer: To the extent that this message or any attachment concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law.  This message was written to support the promotion or marketing of the transactions or matters addressed herein, and the taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.

Sam DeBord is a Realtor® and Managing Broker at Coldwell Banker Danforth & Associates.

HeatherCroft Condominium, Egg Harbor Township

Thinking of selling your condo? Whether you live in the condo or own it as an investment property, if you’re ready to sell your home, it’s time to talk to a qualified real estate agent in your area. By evaluating several criteria, including regional markets, time of year, features of your condo unit, as well as your specific needs as the seller, he or she can create a customized marketing plan for your condo. Here are five important topics to discuss with your real estate agent if you want to sell your home:

1) Best Time of Year to Sell Your Condo

The specifics of your area do more to determine the best time to put your home on the market than whether you’re selling a condo or a house. While the conventional wisdom is that spring is the best time for selling a home, this belief simply doesn’t ring true in every locale. In recent years the historic patterns have eased, and in some cases, totally disappeared. Still, different parts of the country have periods when sellers can be more aggressive with their pricing. And your real estate agent may suggest a distinct timing strategy for condominium sales, especially if your condo is in a resort destination.

2) Open House Strategy and How to De-Clutter

A condo that shows well will sell faster and bring a higher price. Small cosmetic touch-ups can make a big difference. Buyers often suspect that more serious problems may exist if they notice the need for minor repairs. If you want to sell your home, it’s important to make sure your condo is clean, tidy and free of personal clutter. Clear sinks and counters of dishes and toiletries. Neatly stack office supplies and organize storage areas. Replace dim light bulbs and clean windows. Even though your garden area may be commonly owned, do your best to create curb appeal by cleaning front steps and porches, and clearing lawns of toys or equipment.

3) Features to Accentuate

One of the best features to accentuate when selling a condo is the lifestyle of ease that comes with condominium ownership. Many buyers are looking for the hassle-free living experience that they can’t find with a single-family detached house. Another important attribute of any condo is the amenities of the association, which can include a hot tub, fitness center, owner’s lounge, covered parking and even concierge services. If you’re considering selling your condo, take the time to walk through it methodically with your real estate agent. Together you can point out which features of the actual condo unit should be accentuated. Does your unit have a wonderful view? Perhaps the location of your condominium is unique and desirable. Your real estate agent can help accentuate these features in sales and marketing materials.

4) Desired Price and Bottom Line Price

When setting the home price for your condo, it’s important to identify your desired price and your bottom line price. By assessing recent condo sale and listing statistics in your area, your real estate agent and a licensed appraiser can estimate your house value and recommend an appropriate target price range. Working with your agent, you can set an initial asking price, as well the absolute lowest home price you would comfortably accept. One advantage of selling a condo is that by assessing the prices of other units in your association that have recently sold or are currently listed, your real estate agent and the appraiser can determine a very accurate house value.

View from Vassar Square in Ventnor

5) Disclosures

When selling your condo, you may be obligated to disclose problems that could affect the property’s value or desirability, as well as to disclose HOA minutes and costs of common insurance and utilities. In most states, it is illegal to fraudulently conceal major physical defects in your property, such as a water heater that leaks severely. And many states now require sellers to take a proactive role by making written disclosures on the condition of the condo unit. Ask your real estate agent for the particular laws of your state.

New Jersey Monthly Magazine Announces

2012 FIVE STAR Real Estate Agents.

NJ Monthy Magazine surveyed recent home buyers and industry experts to find real estate agents in New Jersey who scored the highest in Overall Customer Satisfaction.

And for the First Time,  (third year with multiple recipients), Coldwell Banker Casa Bella Realtors scored 3 positions among this Elite Award.  FIVE STAR Real Estate Agents represent less than 2 percent of licensed agents in New Jersey.

Congratulations 2013 5 Star Professional Recipients:

Monica DiFranco, Lisa Alper-Russo & Jacqueline Andrews

(**all multiple year recipients)

The Survey Process:

An independent survey of NJ residents who purchased a home over the previous 12 month period were asked to evaluate their agent in the process.

Evaluations were based upon 9 criteria: Customer Service, Communication, Finding the Right Home, Integrity, Negotiation, Marketing, Market knowledge, Closing preparation and Overall Satisfaction.

Monica DiFranco, Lisa Alper-Russo and Jacqueline Andrews have each again demonstrated the poise and professional character required to successfully navigate a challenging & sensitive real estate market.  These rare but sought after traits have are paramount in having been able to successfully deliver the very high level of professional service they did. 

Monica, in her 11th year as a Professional Realtor, recently completed the Short Sale-Foreclosure Resource course. A certification designation issued by the National Association of Realtors

Lisa & Jacqueline have been licensed Realtors since 1985 & 1986 respectively.

Lisa Alper-Russo recently completed the Coldwell Banker Previews International Luxury Specialist designation training and personally represents a significant market share of Luxury Sales in the offshore/Mainland markets.

Jacqueline Andrews manages the firms Default Services Division, representing significant corporate, government and institutional clients such as the State of New Jersey NJHMFA in the sale and management of default real estate assets.

“What’s exciting about this acknowledgement is that it is so consistent with the ‘DNA’ and ‘culture’  of our company.  While some companies boast high numbers of agents, we focus on the importance of having strong, highly trained, service oriented professionals.

“Quality vs. Quantity.  The result is a unique combination of having just about the highest ‘per person production in the market together with clearly the most awarded group of professionals in customer service.”

“We want every client to have the best possible real estate experience.”

Total Residential Sales in Ocean City, NJ increased by 18% year over year.

Total Residential Listings Taken in 2012: 1502 (vs. 1523 in 2011)
Total Residential Closed Sales in 2012: 811 (+18% vs. 686 in 2011)

Total Single Family Listings Taken in 2012: 341 (-5% vs. 360 in 2011)
Total Single Family Closed Sales in 2012: 183 (-6% vs. 194 in 2011)
Median Sales Price for Single Family Segment in 2012: $660,000 (+11% vs. $585,000 in 2011)

Total Condominium Listings Taken in 2012: 1161 (vs. 1163 in 2011)
Total Condominium Closed Sales in 2012: 628 (+28% vs. 492 in 2011)
Median Sales Price for Condominium Segment in 2012: $450,000 (vs. 459,900 in 2011)

Total Sales of Residential Properties $1 Million & up (Luxury Segment) in 2012: 64
(+19% vs. 54 in 2011)

for a copy of the complete, Comprehensive market study,
please contact one of our professionals!

Total Residential Sales for the Greater Atlantic County Region Increased while inventories declined.

Atlantic County Total Residential Sales for 2012: 2630 (+13% y/o/y)

Atlantic County Single Family Home Sales for 2012: 1987 (+10% y/o/y)

Atlantic County Condominium Home Sales for 2012: 643 (+21% y/o/y)

Atlantic County $1 Million Dollar plus (Luxury Segment) Sales for 2012: 62 (+55% y/o/y)