There is not just One Interest rate! Our Borrowers have a difficult time understanding that there is not just 1 interest rate published for public consumption, and often think lenders are being greedy. As a potential Borrower you may be quoted Vastly different Rate quotes as you shop.  If you Call a lender and ask "What is Your Rate?" and they give you an answer with out asking you a few questions... It is more than likely you are being given the WRONG rate. Most cases the rate will be too low, but in some cases it could be too high. It may be innocent, it may be bait and switch.... either way you may not be happy when you get to closing and find things are different than you had hoped.  Here is the short list of what we have to look at in order to price a Loan for one of our borrowers,... 03/05/2009

Looking for a Summer Job? Toms River has a few options for you! It is time to get your job for the summer! But you may want to hurry so you can be at the top of the list! Toms River Township's Recreation Department is now accepting Job applications for this Summer. Positions available: Lifeguards Beach Badge Checkers Beach Clean up Beach Security Playground recreation Program Workers ETC... Applicants are required to be at least 16 years old. Potential applicants can apply at the recreation office: 1810 Warren Point Road, or at Town Hall: 33 Washington Street. For more information you can call (732) 341-1000 x 8415. The Rec Department is open from 8am-4:30pm Week Days if you want to apply. (Thanks to my daughter for finding this out, I guess she wants a job!)   I know I look back at som... 03/05/2009

Monthly Market Report for Toms River, NJ - February 2009 February by the numbers:  •·         31  The number of Single Family Homes CLOSED during the month  •·         $411,706  Average LIST price for February*  •·         $390,029  Average SALES price for the month*  •·         97  Average DAYS ON the MARKET for February  •·         94.73%  The SALES price to LIST price RATIO for the month  •·         708  Number of Single Family Homes ACTIVE on the market in February  •·         22.83  Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!  *These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.    February 2009 saw 31 Single Family Homes ... 03/02/2009

What may move rates the first week of March?   Well the East coast got hit pretty hard with Snow last night into today... I know I took a snow day because there was no way my car was making it out of the driveway this morning with over 8 inches of snow and it was still falling into the afternoon..  In like a Lion, out like a Lamb?? lets hope! ... The Stock market also was hit hard today, dropping below the magic 7,000 mark for the first time since 1997.  As the markets have been moving mostly based on troubles in the equities you would expect that to be good news for rates, but today it has been just slightly positive news for interest rates. The beginningof the month always brings a slew of new numbers to digest. Here is this weeks calendar: MondayMarch 2: January Personal income, spen... 03/02/2009

   Starting today you can vote for New Jersey's Top Ten Beaches.  The survey is located on line at: http://njtoptenbeaches.org This is the second annually survey of NJ's beaches.  I really think NJ has some of the best beaches around, but never get the credit for them! My personal Favorite would be Island Beach State Park Which in previous surveys was named the Number 1 for Eco-tourism.  Last years winner Was Wildwood. The sponsors of the survey: The New Jersey marine Sciences Consortium/New Jersey Sea Grant and the Richard Stockton College Coastal Research center. When you vote you can pick from four categories Family destination: (My pick here would be Point Beach) Shore Events Eco Tourism and Day Trips I guess everyone has their favorite, I have always thought of Point Pleasant Beach... 02/25/2009

   The new world of Private Mortgage Insurance. (PMI)   Over the past few years we have seen so many changes in the mortgage world, the most obvious one is the return of PMI. We spent years doing loans with piggy back seconds cheating the system into thinking that there was 20% down.  The days of the 80-10-10 are gone, and the days of the High LTV second are gone as well. PMI at one time was a simple thing. Most of us that have been in the business for more than 10 years can quote you what it was for a 5% or 10% down deal "way back when".Times have certainly changed as PMI has become a moving target and the cost of PMI fluctuates not only with down payment, but with credit score and property type as well. PMI changes have caused Guideline changes for Mortgage programs and have been caus... 02/24/2009

 Mortgage Movers for the week of February 23rd This Week's calendar is jam packed with something for everyone. From Capitol Hill Fun, To Treasury Auctions, and enough economic data to keep everyone happy! here is the week's data: Monday February 23: Nothing exciting to worry about today! market so far is confused and slightly negative in the absence of any data. Tuesday Feb 24: Fed Chairman Bernake presents to the Senate Banking Committee. This is his Semi-annual Monetary Policy Testimony. In December he hinted that the Fed may be buying Treasury obligations. Investors will be looking to see if that is the case. If he hints the other way it is likely that rates may be pushed up.  It is never a good thing for the Credit Markets to lose a buyer of securities. Tuesday 24th: Consumer Confid... 02/23/2009

   SHUT UP AND EAT is offering a free stack of pancakes for anyone that donates $2.00 to Toms River Volunteer Fire Company Number 1. Where: SHUT UP AND EAT! 213 Route 37 Toms River, NJ When: Saturday and Sunday February 21st and 22nd from 9am-1pm Info: (732) 349-4544 or TRFD25NO1@aol.com The Shut Up and Eat restaurant is located in the K-Mart Shopping center on Rt 37 in Toms River, NJ. Local Fire Fighters will be available at the event to meet the the visitors and will be displaying their fire trucks. Looking for a place to go for breakfast this weekend?  Look no further, This is the spot!   Have a great weekend! Rob Robert Rauf www.RobertRaufHomeLoans.com   or my blog: http://activerain.com/blogs/rrauf (732)223-1630 x102 Real Estate Mortgage Network        NJ Mortgages, New Jersey Mort... 02/21/2009

 I actually read about this last week and did not realize it was a national event: National Pancake Day! All IHOP Restaurants are giving away a short stack of pancakes on Tuesday February 24th. Guests are asked to donate the usual cost of the food to Children's Miracle Network. What: National Pancake Day Where: IHOP. Both Toms River Locations: 941 Rt 37 West and 176 Route 37 East Why: to Support Children's Miracle Network, an alliance of children's hospitals When: 7am to 10pm Tuesday February 24, 2009 So stop in for a pancake breakfast, lunch or dinner and donate to a worthy cause!   Have a great weekend! Rob Robert Rauf www.RobertRaufHomeLoans.com   or my blog: http://activerain.com/blogs/rrauf (732)223-1630 x102 Real Estate Mortgage Network        NJ Mortgages, New Jersey Mortgages, M... 02/21/2009

New Revisions to the Tax Credit for 2009 As modified in the American Recovery and Reinvestment Act  Here are the quick down and dirty bullet points for the revisions to the tax credit. Many first time buyers are not aware that there is a tax credit that can put cash in your pocket when you buy a home. This will not last for long, and it ends on December first of this year. This combination of low prices on homes and record low interest rates, and the visibility of being paid to buy a home make this one of the most affordable times in history to purchase your first home. Here are the important points to be aware of so you can take advantage: Maximum Credit INCREASED to $8,000. Any single family primary residence eligible:(including condo, co-op, town home.) Reduces or eliminates income t... 02/19/2009

    What is happening in the Credit markets this week? It is a fairly busy calendar in this holiday shortened week with more than just economic data that has the potential to move markets this week.  Here is the calendar: Monday: Market was closed Tuesday February 17: Obama will sign the Economic stimulus legislation in Denver CO. So far the market is happy today on this news. The Bill is a $787 Billion (every time I type the word "billion" I hear Dr Evil's voice.... is it just me?) Wednesday February 18: President Obama Expected to announce a plan to reduce home foreclosures. This is probably the "biggie of the week". Analysts anticipate the plan will create a standardized approach to determine if a borrower is truly in trouble, and a way to structure new terms to limit losses. Wednesd... 02/17/2009

My good friend and colleague, Charles Swope, asked me this very question after reading my post, http://activerain.com/blogsview/914699/Toms-River-NJ-Monthly-Market-Report-January-2009. So, I did the very research Charles had inquired about and here are the results: 9 Single Homes CLOSED in Toms River, between $200,000 & $249,999, in January '09 3 of those 9 were "Short Sales" 2 of those same 9 were REO's (Real Estate Owned) (Bank Owned) So, more than HALF of the closings in Toms River, in January 2009, between $200,000 and $249,999, were "Distressed Sales"!  I think a more significant question may be, "How many of these homes were purchased by users and how many were purchased by investors?" Historically speaking, the formation of a "bottom" and stabilization of a "down market" is usual... 02/11/2009

  Time For Relaxation The Gallery Day Spa in Cooperation with Habitat for Humanity is holding a benefit with all proceeds going to the northern Ocean County Habitat for Humanity. Where: The Gallery Day Spa, 3324 Route 37 East Toms River, NJ For: Men and Women of all ages What: Treat yourself to some Relaxation at the Full Service Spa When: Sunday February 8, 2009 from 3-9pm Cost: $30 advanced ticket or $35 at the door on Sunday Contact: (732) 929-0300 or Visit the Spa This is a great way to treat yourself and to help out a local cause, your local Habitat for Humanity chapter that is committed to providing housing for local families.   Have a great weekend Rob Robert Rauf (732)223-1630 x102 Real Estate Mortgage Network        NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage ... 02/06/2009

In his excellent article, Have We All Lost the Ability to Think for Ourselves?  Randy Eager masterfully illustrates the stranglehold our national media outlets have over public perception! He specifically quotes the following headlines from the New York Times over the last 30 days: "Plunging Housing Markets . . . Down Again""Home Prices Suffer Record Monthly Drop""Bank Closures at All Time High in 2008" "Credit Crisis Waves Roll On""Growing Market in Foreclosures""Foreclosure Rates Show No Sign of Slowing""States Unemployment Funds Run Low" And we wonder why we are on the verge of a "Crisis or Catastrophe"?  If all we continue to see, read & hear is misinformation, and it is MISINFORMATION, then it manifests itself into reality because, "perception is reality"!  So, what do we NEED to d... 02/06/2009

Beautiful views in SARATOGA! Location: SaratogaLocation,Location,Location! This spacious 3 bdrm 2.5 bath townhouse in the desirable Saratoga development features a full basement,familyroom w/vaulted ceiling, large master suite w/soaking tub, eat in kitchen,dining room,& a 1 car garage.Laundry on 2nd floor. All of this and a beautiful view from your master suite window.InformationContact Information Janis OlsonSoldbyJanis@aol.com609-978-4046Contact Reply FormForward to a FriendView Other FlyersPricingPrice: $289,900Homeowner Dues: 240/month ..$1440 initial feecall direct: 609-276-1741website: www.SoldByJanis.com/vfProperty Location5003 Trotters WayToms River, NJ 08755View MapFeaturesBedrooms: 3Bathrooms: 2.1Year Built: 1997Subdivision: SaratogaSquare Footage: 1929Agent Name: Patricia M. ... 02/05/2009

    Skate For the Bay! There is a fundraiser on Saturday to support "Save Barnegat Bay". When: February 7, 2009 7-8:30 PM Where: Winding River Park Ice Rink Admission: $12 adults, under 12 $8, Skate rental $4 Address: Corner of Whitesville Road and Oak Ridge Parkway Toms River, NJ Contacts: (732) 830-3600 CKlotz@savebarnegatbay.org There will be a bake sale with homemade cookies Cakes etc. All proceeds from the event will benefit Save Barnegat Bay and its environmental mission. WWW.SaveBarnegatBay.org . If you read any of my blogs, you know that I am a big fan of Barnegat bay.  I spend many of my summer days and even a few of my winter days on the bay. It is one of the most beautiful parts of our area with so much to offer.  Have a great week, and have fun skating! Rob Robert Rauf (732)... 02/04/2009

January 2009 saw an increase in buyer activity after a dismal December 2008!  Apparently, the First Time Homebuyer finally accepted the fact that mortgage rates were not going to get much lower, despite what some of the National Media had misreported in December.  Unfortunately, January's numbers reflect the fear and uncertainty felt by the American Consumer in November and December.  We'll have to wait and see in the next two months, how many buyers actually came off the fence in January! Compared to the same time last year in Toms River, NJ (January 2008 vs January 2009): Sales of Single Family Homes were down from 60 to 49 The Average Sales Price was down from $310,261 to $300,244 Days on the market remained steady at 102 to 105 The Sales Price to List Price Ratio fell from 95% to 92... 02/03/2009

 Finance 101 could become a part of NJ High School's curriculum  Almost 15 years ago I moved to Toms River for the School System, and now Both of my kids have worked their way from kindergarten on up and are now in High School at Toms River North. I have been very happy with the schools and the teachers so far.  My only complaint about Schools in general (across the country) is the lack of the basics people need to survive after graduation. I remember one of the first couples I sat down with to qualify, way back in 1987. They were clueless, they did not even know how much money they had in the bank, and they wanted to buy a house??  I was just a kid myself fresh out of college.... but for some reason I knew about "stuff"  you know the stuff I am talking about... the basics.. If you use ... 01/28/2009

You are shopping for a house or considering a refi? What about rates? My clients always ask What is happening in with rates, and what they should do. I always kid around that I left my crystal ball at home and my time machine is broken.  No one really knows what is happening, but we can make educated guesses based off of the data that is being released, as I mention below, it is a market to play it safe and to lock in and take advantage of today's historically low rates. The only way to know where the bottom is is to look back after it is already gone. Below is what I look at each week as I follow the markets to advise my clients. This week is a pretty busy Schedule with auctions and a Fed Meeting... here are the items to look for: Monday January 26, 2009: December Existing Home sales, ... 01/26/2009

   Just when I thought there was not going to be any ice, and I would miss yet another year....  It all started Sunday Morning when Dave rang my door bell.  He was headed to check the conditions, lost my cell number and was going to give me a call. It has been too warm the past few days, and 2 nights in a row that did not dip below freezing... but Saturday Night into Sunday we had temps around 10... Honesty, I was still in bed when he stopped by.. After all it was Sunday!  A little while later my cell rings... He had walked the ice, chopped a few holes and it was thick enough to sail... (average of about 4 inches thick)... He reported there were about 8 DN's getting ready to go. Now I had gather all the gear that I have not used in a few years and rush to get in a few runs Here's my boa... 01/25/2009