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Wildwood : Real Estate Advice

  • All116
  • Local Info1
  • Home Buying38
  • Home Selling3
  • Market Conditions9

Activity 46
Wed May 8, 2013
James Scott,CRS answered:
Send me your contact info. It will be my pleasure to send you the inventory. In your information,I will also send you a local insurance contact.

Here for you...For Shore!
JimScott@njShoreBrokers.com

Jim Scott,CRS* Broker Associate.
Diller Fisher Realtors
609 425 7121 cell to 9 PM daily.


*There are over one million REALTORS® in business today.Only 3% hold the
Certified Residential Specialist Designation.CRS is the symbol of excellence in
residential real estate. Our members have proven they have the experience,
continuing training and commitment to be the best in their profession.


Know of someone looking to purchase a Shore Home this year? Forward this
e mail. I will politely make them aware of THE best values in Cape May County.

Know someone who is purchasing or selling a property anywhere in the USA?
Have them contact me. I will personally interview and refer the best CRS* at
their location for a flawless transaction.

Thank you for your valued referral.
... more
0 votes 3 answers Share Flag
Sat Mar 23, 2013
Larry Sarlo answered:
$50,000 down yes...

Search foreclosures and short sale here: www.BuyNJShortSales.com

"Nobody Sells More Real Estate than RE/MAX"

Search the MLS on your phone by Text: In the subject line on your mobile phone- LSAR1 -to number 87778 ... hit send... A GPS feature for listings at your finger tips

Larry Sarlo When you want it Sold Fast!
RE/MAX Preferred
609-868-1171 call / text / email 7 days
lsarlo@comcast.net
www.larrysarlo.com
... more
0 votes 4 answers Share Flag
Sun Jan 27, 2013
James Scott,CRS answered:
Hi Melissa,
These properties have all sold with an average price of $ 260K.
Here's a link to a new listing that's quite attractive and just 25 feet away with a rare
rooftop deck:

http://capemay.paragonrels.com/publink/default.aspx?GUID=c086fe8b-1e35-4b11-a227-68b15fbeedaa&Report=Yes
... more
0 votes 1 answer Share Flag
Wed Oct 24, 2012
Debra (Debbie) Rose answered:
As much as I, and other agents I am sure, would like to help, this question really needs to be answered by either a real estate attorney and/or your cpa -

In addition - since you're asking about a possible credit due you for the exit tax - keep in mind your ex may be entitled to part of that, as well........you really need an expert to break this down for you.

Best wishes...........

ps - the good news is..........at least you're in a position to have a capital gain (ok, so the down side is you will owe capital gains TAXES!)

:)
... more
0 votes 4 answers Share Flag
Mon May 5, 2014
Larry Sarlo answered:
Some refer to it as an NJ Exit Tax Not Really!

It is an estimated income tax payment on the gain paid at time of closing. Its a way of assuring taxes will be collected.

a 2% tax on the sale of the property - 2% of the price listed on the deed that you will pay directly to the state at the closing table. It's also been labeled the exit tax - because if you are not moving to another residence within NJ at the time of deed transfer, they want that money up front, at closing because of course it will be more difficult to get it from you if you live out of state.

You will complete a Seller's Residency Certification/Exemption (form GIT/REP3) http://sellitfast123.com/wp-content/uploads/2011/12/gitrep3.pdf for NJ resident taxpayers at settlement. It has 8 exemption options and you'll choose which apply. Refunds will be given to you of that money when you file your return , that is if you qualify for a refund.

Section 121 of the Internal Revenue Code

Section 121 of the Internal Revenue Code, which is often referred to as the 121 exclusion, generally allows homeowners to sell real property held (owned) and used (lived in) as their primary residence and exclude from their taxable income up to $250,000 in capital gains per homeowner, and up to $500,000 in capital gains for a married couple filing a joint income tax return.

Primary Residence
The 121 exclusion can only be used in conjunction with real property that has been held and used as the homeowner’s primary residence. It does not apply to second homes, vacation homes, or property that has been held for rental, investment or use in a trade or business
Homeowners are required to have (1) owned and (2) lived in the real property as their primary residence for at least a combined total of 24 months out of the last 60 months (two out of the last five years) in order to qualify for the 121 exclusion. The 24 months does not have to be consecutive. There are certain exceptions to the 24 month requirement when a change of employment, health, military service or other “unforeseen circumstances” have occurred.

Search foreclosures and short sale here: www.BuyNJShortSales.com

"Nobody Sells More Real Estate than RE/MAX"

Search the MLS on your phone by Text: In the subject line on your mobile phone- LSAR1 -to number 87778 ... hit send... A GPS feature for listings at your finger tips

Larry Sarlo When you want it Sold Fast!
RE/MAX Preferred
609-868-1171 call / text / email 7 days
lsarlo@comcast.net
www.larrysarlo.com
... more
0 votes 2 answers Share Flag
Sun Jul 29, 2012
Joseph M Gallagher answered:
Donna,
II would love to answer your question, hoewver, it does not show me what property you are inquiring about.

Jewell Real Estate Agency, LLC
JOSEPH M. GALLAGHER
5602 New Jersey Avenue
WILDWOOD, NEW JERSEY 08260
267-258-4425, 609-729-8505
GALLAGHERJ@NJTOWN.NET
... more
0 votes 4 answers Share Flag
Fri Oct 12, 2012
James Scott,CRS answered:
Katherine,
You have many options here in the Wildwoods. It will be my pleasure to assist you.
My family has called the Wildwoods home since 1929. Please take a moment and call or e mail
me your criteria as to price, bedrooms, baths and square footage requirements for your home and
business.

Building Relationships with Shared Goals,
Shared Knowledge and Mutual Respect.

Here for you...For Shore!
Jim Scott,CRS* Broker Associate.
Diller Fisher Realtors since 1930
609 425 7121 cell to 9 PM daily.

JimScott@njShoreBrokers.com



*There are over one million REALTORS® in business today. Only 3% hold the
Certified Residential Specialist Designation.CRS is the symbol of excellence in
residential real estate. Our members have proven they have the experience,
continuing training and commitment to be the best in their profession.
... more
0 votes 3 answers Share Flag
Tue Oct 15, 2013
Laura Giannotta answered:
Call IKM Insurance. They're located on Long Beach Island, but cover all the Jersey shore towns. Speak to Cathy at (609) 494-9200
0 votes 7 answers Share Flag
Mon Mar 19, 2012
Rhonda Coleman answered:
I can look up some rentals for you. However, have you looked into becoming a home owner. Rates are still at an all time low, and you can own with mortgage payments less than todays rentals in the market. Please contact me with any questions. ... more
0 votes 1 answer Share Flag
Thu Mar 15, 2012
Christoper Pohle answered:
Sat Apr 28, 2012
James Scott,CRS answered:
You could probably break even but there are better choices. Our market's "bottom" was 18 months ago; stable since with some sectors rising. Feel free to call me.
0 votes 3 answers Share Flag
Wed Nov 21, 2012
Waterfront asked:
We are looking to purchase a NEW construction home that is COMPLETED on the outside, hardy plank siding, anderson windows, metal room, garage doors, balconies etc... and has only studs ...
0 votes 1 answer Share Flag
Tue Dec 20, 2011
Edward ( Augie ) Augsberger answered:
Would this be the West Wildwood single family?

The best thing to do is to get estimates from a few contractors and compare the specs against each other.

There are too many variables. You need to know if the Codes have changed since the last work that has been and if so, will things need to be removed and an engineer to get involved.

If need a few names of contractors , give me a call.
... more
0 votes 3 answers Share Flag
Mon Oct 17, 2011
Edward ( Augie ) Augsberger answered:
There are a few in trouble that are not on the market.

Give me a call and I will fill you in on the proccedure to getting to them.

Edward ( Augie ) Augsberger
WEICHERT COASTAL
SHORT SALE TEAM LEAD
609-338-1189 Direct
609-523-1112 Office
... more
0 votes 1 answer Share Flag
Mon Aug 22, 2011
Shane Milne answered:
Is ~60% your DTI before you refinance? The DTI which counts is your DTI with the new proposed mortgage, so if you are refinancing a $1,372/mo payment then hopefully your payment is going down, which would lower your DTI below the 58.13% which the numbers you laid out calculate out to.

It also includes your consumer debt too, car loans, student loans, credit cards, etc... and your property taxes & homeowners insurance too, if not already included in your mortgage payment.
... more
0 votes 1 answer Share Flag
Sat Jun 30, 2012
Robert Spinosa answered:
Tim,

I belong to the Active Rain network and might be able to get you a good referral for a builder through there. If you're interested, just e-mail me and I'll be happy to research this further for you. I know a lot of builders here in CA are looking for work and they'd be happy to get a referral if they were in your area.

Let me know.

Thank you,

Rob Spinosa
rspinosa@rpm-mtg.com
... more
0 votes 2 answers Share Flag
Sun Jul 1, 2012
Anna M Brocco answered:
In order to best protect yourself, consult with an attorney who specializes in real estate; if you cannot afford one, contact your local Legal Aid Society for a pro bono attorney, free.
0 votes 5 answers Share Flag
Tue Jan 17, 2012
Christoper Pohle answered:
Sat May 21, 2011
Marie Souza Team answered:
This really is a question for your Agent, since they know your area Real Estate Market. I'm not sure if your asking price is above or at fair market value. That being said, any offer is an offer and if $310 gets you where you need/want to be (purchasing another property, changing locations etc), then it may be worth it to accept & move on.
Best of luck!
... more
0 votes 8 answers Share Flag
Sat Oct 22, 2016
David Green answered:
Hi Catmax1,

You could try our Rental Manager Audrey Porter at RE/MAX at The Shore 609-523-9494. Good Luck
0 votes 5 answers Share Flag
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