Everytime I look at the schedule is surprises me how much is happening at the Ocean County Library. This note: MIDWEEK Jazz:  Ocean County College MidWeek Jazz presents Ground Hog Day Jam with Herb Gardner. this will be held at Mancini Hall at the Ocean County Library, 101 Washington Street Toms River, NJ Mark your calendar: February 4, 2009 at 8pm. For further information: (732) 255-0500 www.ocean.edu Keep checking back, there always seems to be something going on at the Library! Rob Robert Rauf (732)223-1630 x102 Real Estate Mortgage Network        NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey 01/24/2009

Population in July 2007: 95,035. Males: 45,729   (48.1%) Females: 49,306   (51.9%) Median resident age:   39.7 years New Jersey median age:   36.7 years Zip codes: 08753, 08754, 08755, 08756, 08757. Estimated median household income in 2007: $64,001 (it was $55,659 in 2000) Toms River:   $64,001 New Jersey:   $67,035 Estimated median house or condo value in 2007: $339,100 (it was $146,300 in 2000) Toms River:   $339,100 New Jersey:   $372,300 Mean prices in 2007: All housing units: $370,263; Detached houses: $397,186; Townhouses or other attached units: $280,555; In 2-unit structures: $450,000; In 3-to-4-unit structures: $332,824; In 5-or-more-unit structures: $270,079; Mobile homes: $31,956Median gross rent in 2007: $1,080. 01/23/2009

Why home buyers should act NOW In spite of the negatives in the media, the housing market has several positive conditions smart buyers are jumping on now... What is keeping you on the fence? Here are a hand full of reasons you should consider buying a home now. Low prices. The fact home prices have dropped is unfortunate for sellers and the economy, but for buyers it presents a golden opportunity they may never see again. Today's low prices mean buyers can get MORE HOUSE and a BETTER NEIGHBORHOOD than they've been able to afford before. Fantastic rates. Mortgage rates are at 37-year lows. We may not see rates like this for a long, long time. Each 1% drop in interest rates roughly translates into a 10% boost in purchasing power. Combined with today's low home prices, this adds up to real... 01/23/2009

 Now that you are ready to finance your home it is important to understand the things that may cause interest rates to move. Interest rates move daily, and in most cases more than once a day. In the past few months it is not uncommon to see rate changes coming 4 times or more in a day. Below are the things that we will be looking at for this coming week. This is a holiday shortened week. As you are probably aware Today is MLK day... a Federal holiday so the Mortgage Market is closed. The rest of this week is a fairly quiet one with the exception of the Inauguration tomorrow. Here is what is in store for the week: Monday January 19: MLK Holiday; The market is closed Tuesday January 20: Presidential Inauguration Day; Barack Obama becomes the 44th President of The United States. Wednesday ... 01/19/2009

  Jujitsu, that's one of the words you cant say with out sounding like you have been drinking!  But I digress.... The staff of The Ocean County Library's Toms River Branch announced it is holding two self defense sessions for women and girls ages 12 and up. The instructor is Walter Miller, a black belt in both judo and jujitsu. Classes are being held at 7pm on Thursdays: January 22 and January 29 2009. The classes are FREE and open to the public. The Library requests that you register for each event separately as they are expected to fill up. To Register: call (732) 349-6200 www.oceancountylibrary.org click on programs & News The Ocean County Library is located at 101 Washington Street, Toms River, NJ   Have a great weekend!   Rob Robert Rauf (732)223-1630 x102 Real Estate Mortgage Netw... 01/17/2009

Don't Miss this performance! My friend Diane Clayton along with Michael Glenn Miller are performing A.R. Gurney's Love Letters at the Mancini Room at the Ocean County Library on Washington Street in Toms River NJ. the Performance will be from 2pm-4:30 pm on Sunday February 8, 2009 and the cost: FREE! Diane has had a love for the performing arts since I have known her, which is a long time... (High School was a LONG time ago!) We were lucky enough to re connect via FaceBook a while back and I am glad to see she is still doing what she loves! Good Luck Diane, or should I say: BREAK A LEG! Rob Robert Rauf (732)223-1630 x102 Real Estate Mortgage Network        NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey 01/17/2009

  Looking back on this week it was a week of the bouncing rubber ball.  Not just daily, but hourly. The market just could not find a direction this week, Selling off one hour only to rally back to a positive mood and than repeat. Days like that make for multiple rate changes in a day, not just one or two... More like 3-4 and in some cases more.  This is something to keep in mind when shopping for a mortgage. Rates vary more than just daily. There are Inter-day changes as well. Friday the market closed early ahead of the Holiday weekend. Towards the end of the day the market sold off a bit and we did lose a little ground in rates. This was to be expected. It is common for there to be a small sell off ahead of a long weekend. Our markets are closed on Monday for MLK, but foreign markets a... 01/17/2009

Robert McLaughlin | Diane Turton, Realtors | 609-290-1186 81 S Shore Dr, Toms River, NJ ANCHORAGE SECTION OF TOMS RIVER 3BR/2BA Single Family House offered at $339,000 Year Built 1968 Sq Footage 1,800 Bedrooms 3 Bathrooms 2 full, 0 partial Floors Unspecified Parking Unspecified Lot Size 8,712 sqft HOA/Maint $0 per month DESCRIPTION EXCELLENT OPPORTUNITY TO OWN IN THE DESIRABLE ANCHORAGE SECTION OF SILVERTON.THREE BEDROOM TWO BATH EXPANDED RANCH THAT BACKS UP TO THE WOODS AND HAS A NEWER KITCHEN, ROOF, BATH, AND ADDITION IN REAR. FRENCH DOORS, NEW DECK,AND UNDERGROUND SPRINKLERS. THE WORKSHOP IN REAR CAN VERY EASILY BE CONVERTED TO A DETACHED GARAGE. GREAT HOUSE IN A GREAT NEIGHBORHOOD. see additional photos below PROPERTY FEATURES Central A/C Central heat Hardwood floor Tile floor Fami... 01/17/2009

The Asbury Park Press ran an article on the front page of their Business Section today entitled, Bad news besets Shore builders.  Despite the dramatic headline, author, David P. Willis' article suggests that the "bad news" for builders may be "good news" for REALTORS!  Mr. Willis references Economist, Patrick J. O'Keefe, Director of Economic Research at J.H.Cohn LLP, who spoke to the gathering of the Shore Builders Association of Central Jersey Inc. at the Quality Inn in Toms River, on Wednesday night.  According to Mr. O'Keefe, "The health of the new home market depends on the resale market.  Sales of existing homes in New Jersey hit a bottom in the fourth quarter at an annualized rate of 110,000 homes a year."  The result of this "bottom" was about an 8 percent decline in home prices ... 01/16/2009

YOU are Invited to the Relay For Life of Toms River Kick Off Party At the Ritacco Center! Join the party and find out how you can help us CELEBRATE, REMEMBER and FIGHT BACK!  January 16, 2009 7-9pm Poland Springs Arena, Ritacco Center Old Freehold Road, Toms River Please RSVP 1.800.ACS.2345 For more info; http://main.acsevents.org/site/TR?pg=entry&fr_id=14162 01/12/2009

     Whats up (or Down) in Rates this week? This is a pretty busy week of fairly important economic data, The week starts off slow But Wednesday - Friday there is quite a bit of data being released. Monday and Tuesday January 12 & 13th: No data Wednesday Jan 14: December Retail sales Expected -1.2% ex Auto -1.3%. Lets face the facts, consumers are cutting back on spending. The fear of losing a job causes most people to hold onto their $. This dismal number is priced in, it would take a wide swing either way to move rates noticeably. Wednesday: November business inventories; expected -0.5%. This is an old number, no one is really concerned with November info at this point. Thursday Jan 15: Weekly Jobless claims; anticipated +33,000. Another number that is pretty week that is already "pri... 01/12/2009

  There has been some miss-information flowing around in Active Rain so I wanted to toss out a few bullet points to clear up any confusion. Here are the Important Tid-Bits to remember: Base Conforming limit for most states remained $417,000 Conforming Jumbo Limit dropped to $625,500 There are still loans available above $625,500... Just not backed by Fannie or Freddie Rates Above $417,001 are higher than below. FHA limits remained mostly unchanged, but each county is different, so you need to check locally. FHA has the same Max "Jumbo" limit of $625,500 with the amount over $362k being at a higher rate (362k is the "high cost" area normal FHA limit) FHA has increased its Minimum Down Payment to 3.5% down FHA only requires 1 appraisal, UNLESS it is a Cash Out Refinance above 85% of the a... 01/09/2009

 I keep looking at rates and thinking "WOW!" I wasn't really sure if we would see rates this low, but I think it is officially the lowest I have ever seen in the past 20+ years. In 2003 we had rates at similar levels, about .25% or so higher, and we were calling them 40 year lows. So I think it is safe to say it is a 45 or 50 year low in rates.  (Records don't go back much farther than that, but my own personal experience in the industry goes back to 1987) Here are some interesting numbers: The average rate for a 30 year mortgage over the past 20 years: 7.68% That is a rate that includes paying points. When I purchased my first house in 1989 my discounted "mortgage guy" rate was 11.25%. The first time I refinanced that house was to a 5 year balloon at 9.25% Second refi: another 5 year b... 01/07/2009

This is always a question: What to do with your Christmas tree now that it is dropping needles all over your floor? Well, here is your answer for Toms River, NJ residents! The Parks and Recreation Department conducts a Christmas tree recycling program each January. Residents should recycle Christmas trees by taking them to any one of the following locations through January. The trees will be made into wood chips rather than paying a fee at the landfill.   Skyview Park (Vaughn Avenue)  Riverwood Park (Riverwood Avenue)  Silverton Park (Maine Street)  Bayside Park (Bay Blvd., Ortley)  Bey Lea Park (Tennis Court and Parking Lot)  Chadwick Beach Park (Strickland Blvd.)  Money Island Park (Longfellow Avenue)  Winding River Park - South (Off Rt. 37 West)  Toms River Township Recycling Center ... 01/05/2009

Happy New Year!  Here is my first Economic calendar/forecast for 2009: This is a relatively busy week for data, Here is the list: Monday 1/5/08; Treasury announcement. Fed Announced it will begin buying mortgagaes in earnest to help keep rates low Tuesday 1/8: November Factory Orders; expected -.25%. The drop in factory orders in November is not likely to be noticed in the mortgage market. Tuesday: December institute of Supply Mgt; expected 37.0. This index of service sector activity is already expected to slide to an all time low. If the estimate is correct, the reaction will be limited. in the unlikely event it is above 38 we may see rates inch up. Wednesday January 7: Treasury auctions 3 year notes. As aways, excess suply has a tendency to be a bump in the road. It will be a good gau... 01/05/2009

The best thing that could be said about 2008 Real Estate in Toms River, NJ; "It's OVER!" Looking at the numbers (2008 compared to 2007): SALES of "Single Family Homes" in Toms River, were DOWN almost 15% The Average Listing Price for a "Single Family Home" was DOWN about 6.5% The Average Sales Price for a "Single Family Home" was DOWN about 6.5% The Sales Price to List Price Ratio remained STEADY at roughly 94% The Average "Days on the Market" remained STEADY at roughly 94 days There is currently 12 months of inventory AVAILABLE (SAME as this time last year)! What does it ALL mean? The answer, in my opinion; PENT UP DEMAND in 2009! Today's Home-Buyer in Toms River, NJ, knows TIME is on their side.  They know SALES are DOWN and PRICES are FALLING.  They also know how much inventory is AV... 01/02/2009

According to Remodeling Magazine's, 2008 Cost vs. Value Report, 9 out of the top 10 project paybacks are "exterior" remodeling projects:  Once again, exterior remodeling projects lead the way for recovery on dollars spent in this year's Cost vs. Value survey. When you compare the national averages, replacement projects that boost curb appeal-siding, windows, and decks-give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.  1. Upscale fiber cement siding (86.7%) 2. Midrange wood deck (81.8%) 3. Midrange vinyl siding (80.7%) 4. Upscale foam-backed vinyl (80.4%) 5. Midrange minor kitchen remodel (79.5%)  6. Upscale vinyl window replacement (79.2%) 7. Midrange wood window replacement (77.7%) 8. Midrange vinyl window rep... 12/30/2008

  I cant believe I am typing this when I still have not wrapped a single gift!  This week only has 2 full days of trading. Today and Friday are abbreviated trading days in both cases the markets will close at 2pm Eastern time. The week was a fairly busy one with some economic data and 2 Treasury auctions. Monday The Treasury auctioned $38 billion 2 year notes, and Tuesday $28 billion 5 year notes. Even with the excess supply in the market this week we seem to have remained fairly flat for the week. Tuesday ended up to be a slightly positive day in the mortgage market and Today we are in the midst of a small rally.  (price up is a good thing in the credit market... The higher the price, the lower the yield... which of course means lower interest rates) We also had Home sales numbers for ... 12/24/2008

Annual Holiday Toy Drive   From the OCBR Newletter... What could be sadder than being a child and waking up Christmas morning and finding nothing under the tree?  During these hard times, more parents than ever are looking for help this holiday season.  Won't you please donate a toy or item and make a child's holiday a joyous one?   There is still time to drop off your donations Tuesday:  9:00 to 4:30    Wednesday:  9:00 to 12:00noon  The Ocean County Board of Realtors office is located at:   271 Lakehurst Rd.,  Toms River, NJ 08755  FYI, The Board Office will close at noon Wednesday, December 24th and reopen Monday, December 29th Happy Holidays! 12/22/2008

  That Means the Fed lowered Fed Funds by .75%. That means a target range of .25%... Thats right, not a typo... 0.25%  Scary in a way. What else are they going to do to spur the economy now? I guess they will continue to print money at warp speed and pump it into the economy. Along with the Easing, they announced that they will continue to buy mortgage backed securities, This made the mortgage market happy and we are in the midst of a rally as I type.  Price up=yield down, so a rally is certainly a good thing. At some point in time I think the market will begin to worry about inflation. Record low rates along with a printing press spitting out green backs at a feverish pace has the potential to spur run away inflation. But for now the worry is to avoid deep recession, and they are throw... 12/16/2008