Brian Ziegenfuss

If you live in Gloucester County, you know all about the 322 Bypass road work. It almost seems endless, even though we know the end result will likely be very worthwhile. In order to keep our community a desirable place to live, these types of improvements our necessary to keep up with the growing number of Gloucester County residents. Since I have been selling real estate in Gloucester County, it has been remarkable how our community has grown. As a realtor, it is a nice selling point to prospective buyers coming to look for homes in Gloucester County, when I can say we have a community that keeps up with the maintenance needed for the residents. So even though the road work can be a nuisance at times, I am thankful that it is taking place.

In addition to the 322 Bypass here is quick run down of some other repairs you will likely see this spring, summer, and fall.

• <!--[if !supportLists]-->Mantua, Main St. Bridge Replacement

• Franklin Township, Coles Mill Rd. Bridge Replacement

• <!--[if !supportLists]--><!--[endif]-->Greenwich Township, Tomlin Station Rd. Bridges

• <!--[if !supportLists]--><!--[endif]-->West Deptford, Delaware St. Bridge Replacement

• <!--[if !supportLists]--><!--[endif]-->Washington Township, Fries Mill Rd & Hurffville Cross Keys Intersection

• <!--[if !supportLists]-->Deptford Township, Resurfacing and Signal Improvements on Almonesson Rd.

It almost sounds like an old country store where you would expect to buy small candies and fountain soda. It is definitely not that though. In fact, it is far from that. This store is not on the corner down town, it is at the Deptford mall, and you don't buy candy there, you get passport books, id cards, and finger-printing .

Although it sounds like a funny product offering, it is actually a great idea and a great resource for us here in Gloucester County. This store has been opened in the Deptford Mall for Gloucester County residents so that we can take care of a variety of activities outside of normal town hall hours. Some of the things you will be able to do at this Gloucester County Store,

Passport Books
Passport Cards
Identification Cards
Trade Name Certificates
Notary Oaths
Veteran's Services (Including ID Cards, Vending Licenses and recording of DD-214/Honorable Discharges)
Fingerprinting age 5 and up. (1st Saturday of every month. 12a.m. - 4 p.m.)

The hours are 10 AM to 9PM Monday through Friday and 10 to 5:30 on Saturday. I would encourage you to take a look at their site and swing on by next time you are in the Deptford Mall.

Well the end of the 1^st quarter is right around the corner, which generally means the Gloucester County real estate spring market should be in full force. It has been showing signs of increased activity lately and I therefore thought it may be helpful for you to see a quick recap of the January and February real estate activity for Gloucester County. How will March close out? Come back and find out, Ill be posting the March numbers at the very beginning of April and sharing with a comparison to 2007.

February 2008 In Review

January 2008 In Review

Over the past few years national foreclosure statistics have been on the rise. Whether reading the newspaper, watching the news, or surfing the internet, the number of foreclosures and short sales continue to make headlines. These trends are evident in the Gloucester county real estate market. Although foreclosure numbers are growing at a slower pace in 2008, foreclosures are still having a strong impact on our Gloucester county real estate market. Realtytrac.com is reporting that one in every 615 New Jersey households have been involved in foreclosure filings, which is up 11.8% from February 2007.

As a prospective buyer or seller of Gloucester County real estate it's very important that you understand basic foreclosure terminology. Here's a quick list of terminology. Please feel free to contact me if you're faced with either buying or selling a Gloucester County foreclosed property. I'd love to help.

Judicial Foreclosure - Judicial foreclosures are those which require the lender to take the borrower to court in order to foreclose on the property in default.

Non-Judicial Foreclosure - Non-Judicial Foreclosures are those in which the mortgage deed contains a power of sales clause allowing lenders to foreclose on a property outside of the court system.

Foreclosure - the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default.

Forbearance - forbearance is a lender's postponement of foreclosure in order to give the borrower time to catch up on late mortgage payments.

Right of Redemption - right of redemption is the right of a homeowner to avoid foreclosure by paying off the amount due the lender on the mortgage.

Foreclosure Auction - when a bank auctions a repossessed property they will typically set the starting price as the remaining balance on the mortgage loan. Many times, however, in a weak market the bank will set the starting price at a lower amount if it believes the real estate securing the loan is worth less than the loan.

REO (real estate owned) - when the remaining mortgage balance is higher than the actual home value, known as an Upside-down mortgage, the bank is unlikely to attract auction bids at this price level. A house that went through foreclosure auction and failed to attract any bids becomes property of the bank. The bank will typically try to sell it at a loss later through standard channels.

Spring is just 17 days away!!! I am hopeful that this will mean that the Gloucester County real estate market will pick up a bit and gain some momentum for the remainder of 2008. Historically, this is the time of year where we see more buyers out looking at properties than any other season. I therefore always urge prospective Gloucester County sellers to take advantage of the winter season and prepare their property so that it is in tip top shape for the surge. Due to the high inventory levels available to Gloucester County buyers, the condition of your property is more important than ever. It needs to be clean and clutter free to stay on the top of any buyer's list and stand out from all the homes currently available on the market. Few things deter buyers more than a dirty and cluttered property.

Fortunately the Gloucester County Community is offering a great clean up and recycling day. If you have old oil based paints, motor oil, antifreeze, batteries, solvents, pesticides, mercury bulbs, or any other similar materials that are not safe for disposal in your regular household trash then you can get rid of them on March 8^th. You can clean out your basements and garages that day by brining these wastes and recyclables to the Gloucester County Solid Waste Complex in South Harrison Township. You can take a look at the Gloucester County site for more information.