Home Buying in 07738>Question Details

J, Home Buyer in Lincroft, NJ

I am 24 years old female thats is looking to buy a townhome in the Monmouth County area. I want to be close

Asked by J, Lincroft, NJ Mon Jun 23, 2008

to Lincroft but closer to the beach. I have lived at home for the last 2 years and have saved up a decent down payment, but am not sure what my current options could be. Where are the best townhomes available? Where are the best townhomes for the under 30's?

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13
Hi J,

Your choice of area may depend upon your definition of close to the beach. You might want to be at or near the beach within 5 minutes, or if a 15-20 minute drive is OK with you, there are other alternatives.

1) Ease of access to Lincroft, yet at the beach, or very near to it, might take you to Sea Bright, Monmouth Beach, Highlands, or Atlantic Highlands. There are an abundance of condos and town homes to choose from in these areas. These will be at or above the prices of condos inland, for a smaller, slightly older unit. The location dictates the price, and here you might be paying more for location and not get the same upgrades or amenities. Just head east to the shore……about 20 minutes from Lincroft.

2) Red Bank….Lots of choices in various price points. Needs no directions….10 minutes to drive, and 10 minutes to park from Lincroft. Onward to the shore areas in 10 minutes.

3) Eatontown/Tinton Falls (north end) - Brookwood in Eatontown is near the mall. Winding Brook is near Rte 35 and Shrewsbury Avenue. Tinton Woods, Society Hill, and Lanape Woods are right off of Hope Road. Fewer condo choices, mostly town homes. Very close to Lincroft, and still accessible to the shore.

4) Tinton Falls (South end) Park Place/Fox Chase have properties that have were built from the mid 1980’s through the early 2000’s. There are plenty to choose from. It’s a quick trip down Swimming River Road to 537 and over to Wayside or Shafto. It’s less than 10 miles, and about 15 minutes from Lincroft to the complexes. These are right off of West Park Rd in between Shafto and the Parkway. You would be due west of Long Branch, with Asbury, Avon, and Belmar beaches all within reasonable distances.

5) Freehold. Taking you further away from the beach, but still close to Lincroft. I have been spending quite a bit of time in Raintree and Wyndham lately.

Best of luck in your search.

Regards,
Deborah Madey - Broker
Peninsula Realty Group
Deborah@PeninsulaFirst.com
2 votes Thank Flag Link Wed Jul 16, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
HI J,

That is great! I love hearing that you have saved enough money for a down payment.That's a big deal now a days. I also purchased my first home as a single woman.Buying a home is a big investment. Make sure you work with an professional who will put your best interests first. I an an accredited buyers respresentative and specialize in helping buyers make the right choices. Your best interests come first! I would be delighted to help you if you are still looking for your townhome. Contact anytime 732-221-9331 Cell. Check out my website for free Buyer reports and check lists.
Web Reference: http://myrealtorjodiann.com
1 vote Thank Flag Link Wed Jul 16, 2008
Have you chosen a realtor who you want to work with yet? I would strongly suggest Tinton falls in your case, very centrally located and close to all major highways. I have a beautiful listing there and owners are very motivated. Call me to arrange a showing you will fall in love with it. Or email me directly and I'll send you the listing and the pictures. ptalwar@kw.com
Web Reference: http://www.9realtor.com
1 vote Thank Flag Link Wed Jul 9, 2008
Hi J,
Let me know what price range you are looking for and I could give you a better idea of towns however some good towns to consider are:
Red Bank
Monmouth Beach
West Long Branch
Ocean Twp
Atlantic Highlands

If you have further questions please contact me

Thanks,
Heather Daccurso
Weichert Realtors
Office: 732-577-0440
Cell: 732-580-5309
1 vote Thank Flag Link Wed Jun 25, 2008
Hi J,
Congratulations, on taking the first steps into home ownership. Depending on your price, you have many options available to you. If you haven't already, speak to a mortage lender and find you best options for a home mortgage, then get in touch with a Real Estate professional who can best help you narrow down some areas that would be most suitable for you and start looking.

Let me know if you need any recommendations on locations, lenders, the home buying process, how to make an offer etc. This is an exciting time to buy a home. All the best to you.

Lucy Korzelius, Residential Sales Associate
RE/MAX Gateway
732-684-1559
http://www.monmouthoceanmls.com/lucykorzelius
1 vote Thank Flag Link Tue Jun 24, 2008
I just had a client with exactly your senerio, I was wondering if that is you, Well if not I would love to help you as well. Feel free to call me. 908-770-5999
0 votes Thank Flag Link Mon Jul 28, 2008
I have a two bedroom two bath condo with alot of privacy ( end unit ) - I am in the process of wanting to get a realtor to sell it. Have no restriction in regard to when I can close etc... email me at sujbarot@aol.com if you want to talk. I work in Shrewsbury and it takes me 7 min to get to work. 11 Min to get to my sister's in Lincroft...
0 votes Thank Flag Link Mon Jul 28, 2008
J, while you search for an agent, be certain that they represent you, and not the seller. You can accomplish this by locating a buyers agent. Have you considered Sea Bright (many condo opportunities, and a fun night life) or Atlantic Highlands? Good luck!
Web Reference: http://optionsrealty.com
0 votes Thank Flag Link Wed Jul 16, 2008
Hi, I am strictly a buyer agent and will only negotiate on your behalf. Other realtors are representing the sellers if the agency or agent lists homes. In order for you to be fully protected you should look at properties with an agent that will work ONLY for you. I also work with new construction and builders. In a slow market builders are offering great deals.

If you would like to talk please contact me

Lauren Kaufman
NewHomes Realty
908-420-6023
0 votes Thank Flag Link Sun Jun 29, 2008
I live in a condo in Middletown (Monmouth county) and love it. I'm very close to the beach and downtown Red Bank as well as the trains and ferry to New York. Prices have come down significantly since 2006-2007 and I believe at this juncture you can negotiate a good offer. As far as under 30's locations, I believe that Atlantic Highlands, Highlands (close to beach) and Red Bank are your best bet, however, the Middletown area especially "Cambridge Manor" seems to be drawing a younger group of professionals. If you have any other questions and/or would like to see available condos/townhomes in those areas call me anytime on my cell 732-539-9749. Regards Ken hegel, Prudential New Jersey properties, Middletown, NJ
0 votes Thank Flag Link Wed Jun 25, 2008
For a townhome, you might try Lake Como or Manasquan. Both towns are beach communities with a younger summer population. If you would consider any type of condo, Bemar has many to choose from. For specific property listings, email me through Trulia or go and search my website which will have all the Monmouth County (Ocean, too) listings for your review.
Definately consider FHA financing and also be sue to check into some of the programs that are available to first time buyers--grants, downpayment assistance, etc.
Good luck with your search!
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Tue Jun 24, 2008
You didn't mention the price range of the home you are targeting? This will always be the determining factor regarding the qualitiy of the location. It also helps answer your question regarding "Where are the best townhomes for the under 30's?"

Example - if your mortgage rep qualified your purchase at 200K, this would qualify you for a newer townhome in town # 1, an older townhome in town # 2 and it may eliminate you from buying in town # 3 because of the higher prices. The price variations in Monmouth County vary wildly from town to town based on a number of factors such as schools, crime, proximity to commuting, the beach, etc.

The first thing you'll need to do is to have your purchase qualified by a reputable mortgage representative. They will take into consideration your current salary, length of time at your employment, credit rating, downpayment and a few other items. They will give you an idea of the mortgage allowable and then you can add your downpayment to that for an idea of your purchase price.

Also, keep in mind a couple of things:

Interests rates are still at historical lows and money is cheap. Don't feel the need to "sell the store" in order to have a large downpayment (in an effort to keep your mortgage payment lower.) $10000, borrowed at todays rates, would increase your monthly costs by only $65. On the flip side, if you put an additional $10000 down on the home to keep payments low, you would only save $65 per month. That $65 savings, translated back into $10,000 would take nearly 13 years to re-accumulate so it's not worth it.

An FHA mortgage can be acquired with only a 3% downpayment so there is not any need to put a large downpayment on the home (unless we are talking about a substantial amount of money. )

But please, if you have $20,000 or $30,000 to play with then you should use the minimum amount and save the rest for a rainy day. Put it in the bank and forget about it or use it to unload any unneccesary debt such as credit cards or a car payment. where the interest rates are much higher and the value of the purchased products are depreciating And if you don't have any of those, then get started on a retirement account. You'll thank me in 30 years.

My numbers are down below. Please feel free to call or email with questions.

Patrick Garaffa
Broker, Salesperson & Notary Public
Century 21 Action Plus Realty
2218 Route 9
Howell, New Jersey 07731
732-303-8383 (Office)
732-252-2042 (Direct)
732-547-2777 (Cell)
732-303-1230 (Fax
pgaraffa@aol.com
0 votes Thank Flag Link Tue Jun 24, 2008
Hi,
There are a lot of nice townhomes in Freehold and Howell. I am very familiar with Monmouth County. If you would like to be really close to the beach, Atlantic Highlands is nice as well.
If you have ay questions, please contact me and I can help you find a home.
I look forward to hearing from you.
Lisa Fannon
Orange Key Realty
732-297-6969 office
908-907-5029 cell
Lfannon@orangekeyrealty.com
Web Reference: http://www.lisafannon.com
0 votes Thank Flag Link Mon Jun 23, 2008
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