Middlesex, NJ

Looking for something fun to do tomorrow in central New Jersey? We've got the perfect, laid-back option for Saturday (October 1) from 11am to 4pm! Join your neighbors and friends at Old Bridge Day, the Middlesex annual fair held at the municipal complex. This family fun day will feature activities for people of all ages, so why not get out and enjoy the fall weather?

Enjoy live entertainment by Kaotic Control, playing everyone's favorite pop and party hits from the past four decades. Kaotic Control features lead singer and local resident Rose LaFergola. Rose has been singing since she was a child; performing in school talent shows and plays made Rose realize how important music would be in her life. Oldies, Motown, pop, rock and disco musical styles have all influenced her choice of songs.

Interested in shopping? Don't forget to visit the vendor area, which offers a variety of handmade arts and crafts, collectibles, jewelry and so much more. What a great way to get a early start on Christmas shopping (or, if you're incredibly well organized, pick up some last minute stocking stuffers)! Old Bridge township businesses and organizations will also have their tents up to let you know about their products and services.

Calvary Chapel will sponsor an area with amusements and fun things for the kids to do.

From hot dogs and burgers to delicious barbequed items, the food court will offer a delicious and diverse menu for everyone. Enjoy all of your favorite traditional fair foods that are associated with a great festival.

It's sure to be an exciting day here in Old Bridge Township. For questions or additional information, please call the hotline at (732) 607-7940, or email Diane Amabile at damabile@oldbridge.com.

We're The Marchany Team, and we KNOW central New Jersey. We're right where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're looking for a terrific new home in Mercer County, we're prepared to search for your place in the sun in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to put your Franklin Park or Hillsborough (Somerset County) home on the market, we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.

Millions of children – including many whose parents are central New Jersey home owners – are heading off to college within the next few weeks. Things are different for college students these days – they typically take a variety of expensive personal possessions to the dorm with them. It can be reassuring to know that if those possessions are stolen – or lost in a fire – they may be (at least partially) covered by your home owner's policy.

Ellen Melchionni, president of the New York Insurance Association, says, “Sophisticated electronics and expensive sports equipment are increasingly common on campuses around the country, with many students bringing thousands of dollars’ worth of personal possessions with them to college. And with the cost of tuition rising, the last thing students or their parents need is to pay to replace costly items due to theft, fire, or another disaster.”

If your child stays in a dormitory, most personal possessions are covered under your home owner or renter insurance policies. Be aware of the fact that some policies limit the amount of insurance for off-premises belongings to 10% of the total amount of coverage for personal possessions. “This means if the parents have $70,000 worth of insurance for their belongings, only $7,000 would be applicable to possessions in the dorm,” Melchionni said. “But, not all insurance policies include this type of limit, so you should check with your agent or company representative about your specific policy.”

Computer and electronic equipment and items such as jewelry may also be subject to coverage limits under a standard home owners policy. If the limits are too low for your needs, you can buy a special personal property floater or an endorsement for these items. There are also stand-alone insurance policies for computers and cell phones.

Students who live off campus are likely not covered by their parents’ home owners policy and may need to purchase their own renters insurance. If your kids will be living off campus, check with your insurance company to see if your policy extends off-campus.

NYIA recommends the following for college-bound students:

• Leave valuables at home if possible.

• Create a “dorm inventory” of all the items they are taking with them. An up-to-date inventory will help get insurance claims settled faster in the event of theft, fire, or other types of disasters. Need help? Go to www.knowyourstuff.org.

• Engrave identifying information on electronics; it can help police track stolen items.

We're The Marchany Team, and we KNOW central New Jersey.We're right where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're looking for a terrific new home in Mercer County, we're prepared to search for your place in the sun in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to put your Franklin Park or Hillsborough (Somerset County) home on the market, we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.

Earlier this week, Keeping Current Matters hosted an article by appraisal industry leader Chip Wagner. His piece focused on an issue that we feel is essential to central New Jersey home owners (and prospective home owners!), in which he defined the role of the appraiser in today's real estate transaction.

As the real estate market continues to rebound, Wagner explains, appraisers are challenged with finding comparable properties. Once possible comparable homes are identified, a lot of behind-the-scenes time is involved in identifying the actual “terms” of the sale. Along these lines, he notes that the transaction may have been an arm's length deal, in which both parties were equally motivated. It may have been a relocation transaction, where a corporate owner wanted to shorten the time on the market. And, especially in the current marketplace, it may have been a distressed sale (like a short sale or a foreclosure). If these were good times, it would be one thing – but they're not, and the Wagner notes that the pool of comparables is both limited and muddied.

As in any field, there are appraisers who are inexperienced, and those who don't know how to read a market. There are those who are trying to operate outside of their “home” market to geographic areas with which they're not familiar. But by and large, the vast majority of appraisers know what they're doing, and they strive to give you an independent, unbiased opinion of your market area.

Wagner notes that appraisers aren't advocates for anybody; if they were, they'd jeopardize losing their license and livelihood. Clients can't tell appraisers which comparables to use – if they did, values would be artifically inflated or deflated. Of course, we all know that before the real estate recession, that game was being played; clients asked appraisers to push values up (most commonly in cash-out refinance appraisals, not purchases). During the past three to four years, no client has been asking appraisers to be conservative or low in their numbers.

Wagner also calls attention to the government regulations and lenders' special underwriting requirements that interfere with the appraisal process. These regulations, including the Dodd-Frank act, have great intentions, but they also carry the unintended consequence of restricting what appraisers can do.

So what – in Wagner's opinion - is the solution? He says there isn't one, especially as the market remains complicated. About a year ago, Fannie Mae asked appraisers to include one active listing (or pending sale) in their appraisal reports, and some underwriters are now asking for two. Wagner says, “This is very important clue as to what is happening in the market – a listing, or better yet a property that is under contract can help support an increase in the market, or even stabilization. It can also support declining values.”

Are you concerned about the accuracy of the appraised value of your home? Call us; we'll provide straightforward answers. We are The Marchany Team, and we KNOW central New Jersey.We're right where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're looking for a terrific new home in Mercer County, we're prepared to search for your place in the sun in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to put your Franklin Park or Hillsborough (Somerset County) home on the market, we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.

Are you among the many central New Jersey home owners who are considering renting your home rather than adjusting the sale price? Recently, Keeping Current Matters addressed this issue, which is steadily becoming larger and larger. Make note, thought: If you're in this position, and you don't want to become an educated investor, you could be headed for problems. Before you rent your home, we agree with KCM that you need to take three steps to ensure that you're undertaking the right course of action.

First, have a consultation with an eviction attorney. If you rent your home, you assume that the rent will be paid every month, right? But in today's economy, there are a LOT of people who aren't paying their mortgage. You need to clearly understand the legalities of the eviction process before you decide to rent, because there's a strong possibility that you'll rent to someone who can't – or won't – pay rent to you.

If you're not a full-time investor, you should hire someone to handle the property for you. A professional will find a qualified tenant, collect the rent and manage the problems. They'll also handle collection calls, and they'll be the one receiving maintenance calls. Imagine the scenario proposed by KCM: What would you say if a tenant told you that they had enough money to either buy food for their children, or pay you your rent, but not both? There are people experienced with these situations, and they can help you.

Although you're going to receive rent, don't forget that you're also going to have expenses. You need to consider these items:

• Mortgage payment (unless there's no mortgage on the home you'll rent out)

• Property taxes

• Maintenance expenses such as repairing or replacing: roof, heating/air conditioning unit, appliances, etc.

• Insurance – Check with your insurance company; you may have to increase your liability coverage.

Renting residential real estate historically is a great investment. However, it is not without its challenges. Rent the house because you want to be an investor, not because it's easier than selling the house.

We're The Marchany Team, and we KNOW central New Jersey. We're right where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're looking for a terrific new home in Mercer County, we'll find your place in the sun in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to put your Franklin Park or Hillsborough (Somerset County) home on the market, we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.

You know, like a lot of other central New Jersey home owners, there's nothing we love more than a great shoe store. OK...maybe Lorraine loves a great shoe store a little more than Gil, but you get our point. So we got a real kick recently when Keeping Current Matters posted a blog comparing the current real estate market to a shoe store.

How many shoes would you buy if your nearby shoe store offered these perks:

• An almost endless selection of shoes in every size, color, and price range

• Shoes were discounted 30% or more

• Your credit card could finance the shoes for 30 years at 4.5%

No doubt, you'd need to rent a U-Haul truck to get your shoe purchases home! And the analogy is an excellent one, because today's real estate market is just like that shoe store. There's a incredible selection, terrific bargains, and unparalelled financing terms.

There are some other important points to remember, as well. First, shoes wear out and are eventually tossed away. A home endures. Second, shoe styles change regularly. The idea of owning a home is still the American Dream. Finally, shoes are worth less as soon as you wear them. Homes appreciate in value over time.

Think about shoes. A lot of us can remember Steve Martin's hilarious bit about “The Cruel Shoes;” beyond that, how many deeply embedded memories do you have of any of the shoes you've owned? But EVERYONE can remember their first home. Who forgets the holidays they've shared in their homes? Will you ever forget the first time you had the whole family over to your house?

Did you ever have a pair of shoes that didn't look “quite right?” Sure, you can die them...a costly (and frequently “iffy”) adventure. Not so with your own home – you can decorate a home to your tastes! Ever had a pair of shoes that looked great, but just weren't comfortable enough for everyday wear? Home ownership neighborhoods are stable (with lower crime rates). And kids who grow up in these neighborhoods achieve higher levels of education.

If you'd stand in line to buy the perfect shoes, why wouldn't you explore owning a home? Mortgage money IS available at super-low rates and with reasonable down payment requirements. And you can also get great deals on short sales and foreclosures.

We're The Marchany Team, and – whether it's shoes or homes – we KNOW central New Jersey. We're right where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're looking for a terrific new home in Mercer County, we'll find your place in the sun in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to put your Franklin Park or Hillsborough (Somerset County) home on the market, we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.