Rockaway, NJ

As we approach tax time, let's make sure that we have exhausted all potential tax deductions that the government affords you. Take a look at:

http://www.irs.gov/publications/p946/ch02.html

If you have made purchases of assets (big or small) this past year.

The discovery of iron ore in the 1700s led people to Rockaway Borough. Once known for its rustic charm, Rockaway Borough is now a town of suburban homes, multi-family homes, and a busy downtown/business district. Rockaway Borough is conveniently located close to Routes 80, 46, 10, and 15. To learn more about Rockaway Borough, New Jersey visit www.MorrisCountyLiving.com.

Rockaway River, Rockaway, New Jersey

Rockaway Township is the largest municipality in Morris County, spanning over 45.6 square miles. The township has a total population of approximately 23,000 and is 35 miles west of New York City. Newark International Airport is 35 minutes away and the Mid-Town NYC train station is located in the nearby towns of Dover or Denville. From its sparsely populated northern sections with miles of protected wildlife areas, to the denser suburban areas in the south along Route 80, Rockaway Township boasts a mix of pleasant suburban neighborhoods and beautiful rural areas. To leran more about Rockaway Township, New Jersey visit www.MorrisCountyLiving.com.

Split Rock Reservoir, Rockaway Township, New Jersey

Sometimes it takes some perspective to remind us of how important our profession is. When it comes right down to it, what we do as REALTORS® is help our buyer clients find an environment that will become the backdrop of dreams and memories.

I recently returned to my hometown of Rockaway, New Jersey for the first time in many years. Thanks to the prodding of childhood friends who found me on Facebook and insisted we have a small reunion, I found myself in Rockaway standing across the street from the house I grew up in. As I stood there, the house, which as a child seemed enormous, looked far too small to contain all the wonderful memories that were formed there. Family holidays, Lifecycle Events like my Grandfather's 60^th Birthday Party & Clambake, Planting in the garden with my dad, BBQ's, my childhood pets, and, as my friend Sheril reminded me, the party I had in the basement where we all played spin the bottle.

It was a great house to grow up in. I wonder if the REALTOR® who sold my parents that house knew how wonderful a setting it would be for our family and my brother's and my childhoods? Hopefully I will do as good of a job finding the perfect homes for my clients and their children!

Remember when working with buyers, it's not always just a property... it will be somebody's home.

The month of September 2007 as compared to September in 2008, as taken from the statistics from the Garden State Multiple Listing.

The amount of active listings in Rockaway Twp has decreased by 12% / Sept 2008 = 257

The average list price of these listings have decreased by 8% / Sept 2008 = 421,705

There are 23% less homes under contract / Sept 2008 = 17

The under contract list prices decreased by 22% / Sept 2008 = 351,865

The amount of homes closing decreased by 37% / Sept 2008 = 17

The average sold price has decreased by 16% / Sept 2008 = 349,412

The average days on market rose by 20% / Sept 2008 = 96

The average sold price versus list price decreased by 3% / Sept 2008 = 94%

These numbers show that in a comparison of Sept 2007 versus Sept 2008, we still have a growing oversupply of houses for sale in Rockaway Twp. The lower average of under contract prices reflects the first time buyer activity in the market is probably greater than those looking to move up to a larger home. The 96 days on the market is similar to what our market was like in the 1980's, where you could expect your home to sell just into the 4th month of marketing. Today there are properties that still sell within the first couple of weeks, but these are the homes which are in the best condition, best appealing locations, and competitively priced.