Adrienne Francis

Why is now the perfect time for moving up to a larger home? First time homebuyers have enjoyed low mortgage rates, along with an $8,000 tax credit from Uncle Sam, so they have reaped many benefits in this market. But, if a homeowner wants to move from a townhouse or condo to a larger home, but is very concerned their current home is not at the value it was a few years ago, read on; Because all properties in an area have depreciated by the same percentage, there is a huge monetary advantage in moving up now. Assume a home was valued at $250,000 and then depreciated by 20%, leaving a current value of $200,000. A previously valued $500,000 home at 20% less is now $400,000. A homeowner would sell their home for $50,000 less than its high value, but could buy the larger home for $100,000 less, giving that homeowner a $50,000 positive increase.

That's rather wonderful isn't it? Of course the old rule "buy low, sell low and buy high/sell high" applies - you just can't have one from column A and one from column B, but this is an added bonus for the move up buyer. Need more convincing? Interest rates are still phenomenal and choices of homes are at an all time high. Doesen't get much better than this.

A memo from our Coldwell Banker Home Loans department regarding your personal information being sold.

Coldwell Banker Home loans recently became aware of the fact that the major credit card bureaus have been selling clients personal information to hundreds of mortgage brokers throughout the US. This happens soon after the mortgage company, that you have applied to, checks your credit. The majority of these mortgage brokers who are buying your information are hardly reputable and more often than not have deceitful intentions and "bait and switch" mortgage offers for you. They will call and harass you often and mail literature to you frequently in hopes of selling you a less than reputable mortgage product that is far too good to be true.

At Coldwell Banker Home Loans, your trust is taken very seriously and we will never be less than truthful in our dealings with you. You can count on honest, straight forward mortgage inforamtion from our team. After all, the best compliment to us is the referral of friends and family. This can only be achieved by servicing our clients with great care and respect.

How do you stop this from happening to you?

1. Add your phone number to the Do Not Call List

This can be done online by visiting www.donotcall.gov or by calling

888-382-1222. Remember to make sure to add both your home and

mobile cell phone numbers.

1. Opt Out of Prescreened Credit Offers

This will stop creditors from viewing your personal credit information

without your written consent. In addition, it will cut down on the junk

mail (unwanted credit card solicitations). This alone lowers your

chances of becoming a victim of identity theft. You can opt out by

visiting www.optoutprescreen.com or by calling 888-567-8688.

Your privacy matters to us!

We work very hard to protect your privacy and personal information. It is very important to us that you know these unsolicited calls were not the result of Coldwell Banker Home Loans releasing or selling your personal information. By following the steps we have outlined above, you will protect yourself and lower your odds of becoming a victim of identity theft. Please feel free to call me with any questions. www.adriennefrancis.com 201 259-4449 www.baskingridge-nj-homesforsale.com

These are the average sales prices of homes sold in New Jersey by Coldwell Banker for the last 3 years. Quite a difference since 2007. It's a great time to buy! For more specific sales information on Basking Ridge, Bernardsville, Harding and other towns, visit my website www.adriennefrancis.com.

• • April 2007: $520K
  • April 2008: $490K
  • April 2009: $430K

Bernardsville, NJ which is next to Basking Ridge, NJ has a similar situation with regard to pending and sold homes this month. Bernardsville's new listing inventory is down but unsold inventory is also up. Fortunately, like Basking Ridge, pendings are also up.

This is reflective of how the market has picked up so much lately. I have lots of data on my website and my blog www.adriennefrancis.com and www.baskingridge-nj-homes for sale - that is if you like charts and graphs and market information. The great news is that home sales seem to have picked up significantly across the country including hard hit states like California and Arizona. But with insanely low interest rates, low home prices and government incentives, there is good reason why. Also, at least in this area, the bulk of the buyers are first time homeowners. Seems it will take a bit more time for the luxury market to follow although I've read that luxury homes on Long Island are also really moving due to price reductions. In general, buyers are beginning to see real value, and that's when they buy.

Like Basking Ridge, Bernardsville also has a wonderful school system. Smaller but really good. So take a look at the data and if you have any questions, just let me know. (201)259-4449 phone or text.

www.adriennefrancis.com

www.baskingridge-nj-homesforsale.com

April home sales statistics for Basking Ridge are really a mix of good news and not so good news. New listings are down and the great news is pending home sales are up. Unfortunately, unsold inventory is also up.

If you visit my website http://www.adriennefrancis.com/ or my blog baskingridge-nj-homesfor sale.com I have April sales stats for other towns and also a complete breakout of what homes are selling at what price point. And which price point the homes are really sitting (luxury homes of course) but take a look - there is great information there.

the best news is things are picking up in a big, big way. With one of the top schools in the state and two train stops on the Midtown Direct Line to New York, Basking Ridge has so much ot offer and people know this. It is a very sought out area for lots of reasons. So come visit Basking Ridge and see why so many people love living here!