Wednesday, September 26, 2007

We have move! In an effort to condense and conserve, I have begun a blog that is hosted on my website. You will still find news in and around New Jersey but the news is geared more to specific counties. The first county is Mercer County. I expect to add others shortly. For now please visit the new location to get your dose of news in New Jersey.
http://mercercountyblog.freddiemoorer.com

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Wednesday, September 12, 2007

Around Town: Washington Township Cocaine Bust

On a tip from California police Washington Township police followed a suspicious package to a home on Harriet Court in the Sharon Mews development. There authorities arrested Vincent Corddick and Christina Diaz after finding two loads of cocaine and marijuana valued at $106,000.
Ontario California police called township police on Friday about a suspicious package headed to the Sharon Mews address. Township police watched as a UPS carrier delivered the package then raided the Harriet Court property. The package contained one kilogram of powder cocaine hidden inside a computer tower.
Vincent Croddick was charged possession of cocaine and marijuana and two counts of possession with intent to distribute drugs. He is held at Mercer County Corrections Center in lieu of $290,000 cash bail.
Christina Diaz was charged with possession of marijuana and released on her own recognizance.
Read the story here.


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Thursday, September 06, 2007

Realty Transfer Revenue Woes

It only makes sense that with the housing market softening that dependent enterprises would have a bit of trouble also. Well here in New Jersey as in some other states we have a fee called the Realty Transfer Fee. The fee gets collected when a home is sold. In fact the fees generated 2.5 percent of the state's revenue in 2006. It is doubtful it will generate the same amount in 2007 which is why in all probability the state is going to have big trouble staying within its budget.
The article is well worth read.


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Wednesday, September 05, 2007

Housing Sector Teaches Lesson in Economics

School is in session now and if nothing else the impact of the soft housing sector is a good lesson in the relationships sectors have on each other in a society's economy. While construction has softened along side the housing sector, exports seem to remain strong and that is helping the manufacturing sector. Even though exports is the bright spot experts are not sure it will be enough to counter the effect of the housing sector decline. The decline in consumer spending has also helped turn expert attention to debate over whether the economy is soft, very soft, or in recession. So if you didn't take economic in high school or college this is your chance to get a handle on how it all works together.
Read the article here.

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Thursday, August 30, 2007

Tip of the Day: Late Summer Gardening

It is that time of year again folks: time to encourage those last tomatoes to ripen up before the first frost of late October. This article had some good advice for prompting tomato plants to spend their time on ripening rather than making more fruit -- it is funny too.
Of course most people know to pluck off any new shoots or blooms but picking the smaller fruit that will not mature in time is something else that helps the plant get on with the business of ripening the remaining tommies.
Well worth the time it takes to read it!

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Tuesday, August 28, 2007

Northeast Region Sales Rise

Existing home sales continue to decline nationally according to the National Association of Realtors. The median price of a home sold in July was 228,900, which is down 0.6 percent from July 2006 (230,200). The decline in July the 12th month of downward movement set a new record.
In the Northeast, however, both the median price (290,900) and the number of units sold rose. The number of sales increased 1 percent from last month while the median price of homes increased 5.9 percent from a year ago.
Lawrence Yun, NAR senior economist said, "The rise in sales and prices in teh Northeast region on a fairly consistent basis in recent months is promising because this was the first region that underwent sales and price weakness after the boom. Now, it appears that it will be the first region to climb back, indicating that other regions could follow a similar path."

While the things are looking up in the region New Jersey continues to have homes selling at reasonable prices.


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Tuesday, August 21, 2007

Resident of 3 Towns Unite to Stop Wal-mart

Residents of Lawrence, Ewing, and Trenton gathered at the Lawrence Muncipal Complex to protest the plan to bring Wal-mart to Spruce Street near Halo Farms. The residents are concerned about the disruption of the traffic pattern the store will cause and the fact that Wal-mart does not pay its employees a living wage. The plus side of the venture is that the store will be convenient to public transportation and contribute to the township's tax base.
Read the article here.

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Thursday, August 09, 2007

Population Shifts in New Jersey Counties

It is happening across the country and New Jersey is no different. The minority population is increasing and minorities account for two thirds of the growth in many counties that had the lowest percent of minority residents in 2000. The population shift includes Asians, Hispanics, and Blacks moving into the counties while the white population is decreasing.
Read the article here

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Wednesday, August 08, 2007

History vs Housing in Princeton

Well folks it looks like Princeton has joined the region's municipalities that has a history vs housing controversy. This time it is between the Institute for Advanced Study and the Princeton Battlefield Society. The Institute has 22 acres of land that is adjacent to the Battlefield and wants to use eight acres to build housing for faculty. Get this one, the Society does not dispute the Institute's claim to the land nor are they against the Institute building housing some place else.

The Battlefield Society is unable to purchase the land from the Institute but still wants to determine the legal owner's use of the land. The Society is unable the maintain the 85 acre battlefield for which it does have responsibilty, nor is it able to make improvements that would assist visitors in learning more about what occurred on the battlefield.

If the Institute prevails it will have its housing units and then plans to relinquish development rights to the land adjacent to the housing, which will increase by at least 10 acres the land around the battlefield to be conserved in perpetuity. Not a bad deal if the the Society does not get its way.

Read the story here.



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Tuesday, August 07, 2007

National Night Out

It is time for the 24th National Night Out. It is something neighbors can do to show their solidarity in crime prevention. It comes too late to help the Delaware State students killed in Newark, NJ or other innocent victims of violence in the United States but if everybody just made plans to participate tonight then maybe we could save one innocent victim.
To participate you are asked to turn on your outside lights and sit outside and watch. Some neighbors have parties for planned for this night that included the entire block others will sit on steps or porch in silent unity with law-abiding folks across America.
Whether you party or sit in silence, it is time to be counted.


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Thursday, August 02, 2007

Hamilton and Mercer Get Affordable Homes Grants

Looks like Hamilton Township and Mercer County will receive HUD grants this year. Hamilton will receive $587,651 community development grant while Mercer County will receive $687,397, largely from the HOME Investment Partnerships Program.
"This grant will help assist everyone from first-time home buyers in Mercer County to those who need rehabilitation projects on their homes to non-profit groups," said Brian M. Hughes, county executive.

Read the entire article here.

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Monday, July 30, 2007

Work Savers: Pressure Washer

A pressure washer is a machine that can be used to wash many different types of surfaces. Using water supplied by a garden hose, a pressure washer is an effective tool that can be used to clean and remove oils, grease, mold, dirt, and stains from walls, decks, driveways, and many other house related objects.
It is all about pressure though, whether what you get is a cleaning or a peeling. Water pressure is measured in pounds per square inch (psi). When purchasing an electric machine one that has a range of 1300 to 2400 psi will be a good choice for most jobs around the house.
Remember to read the directions on the safe use of this device and use safety equipment to prevent injury. Then just have fun!


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Wednesday, July 25, 2007

In the Know: Why Renters Should Own

Renters want the same thing homeowners have -- a good place to live, stability, security ... and money down the road when they sell their homes. Renters may have some of those things now, but even after years of renting, they'll stil have nothing to show for their housing payments except rent receipts.

In addition to the pride that comes with ownership, here are some major financial advantages that owners enjoy:

  • House payments generally don't increase, but even small annual increases push rents much higher over time.

  • Homeowners can deduct their interest on up to $1 million worth of their homes' acquisition indebtedness, and all their property taxes. Renters indirectly pay all their landlords' principal, interest, taxes, and other costs -- but the renter gest no such tax deductions.

  • Rents don't profit form leverage. Owners gain appreciation on the entire value of their home, even when they have very little of their own cash invested in it.

One of the main reason renter give for not buying is that they lace enough savings for the downpayment on a home. If you are a renter, you should know there are programs available not to enable you to buy a home with a downpayment of just 4% or even less! Interest rates are not high by historical standards, so chances are you can own a fine home.


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Monday, July 23, 2007

Hedge Inflation, Gain Leverage

When youu buy your home, it should be because you'll enjoy living in it. But it's nice to know that your home is also an excellent hedge against inflation, and your mortgage enables you to leverage you financial investment in it.
The decade at the end of the century was a time of relatively low inflation -- especially during its last few years But in the decade between 1980 and 1990 cumulative inflation increased 64%. A few years before that, when oil prices soared, inflaction leaped up 104%.
The value of well-kept homes, however, often rises well in excess of the inflation rate, over time. Even in aread with less aggressive housing markets, the value of homes has increased along with inflation. So over a number of years, if you home is well-maintained and in a good neighborhood, you can almost certainly count on selling it for more than you paid for it.
Another thing that makes buying a home a great investment: your mortgage enableyou to buy a home with a relatively small outlay of cash, so your money is leveraged, and you obtain appreciation on the entire value of the house, even though comparatively little of your own money is in it.
For example, if you bought a $150,000 homem with a $10,000 downpayment and home's value increased only three percent in the first year, you home's value would then be $154,500. You would have earned a paper profit of $4500 on your $10,000 cash investment -- a 45% return. If you paid cash for the home you would have received no leverage and made only a 3% return.

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Thursday, July 19, 2007

Public Service: Blood Supply Low


Hey Folks, it is that time of year again when the area blood supply get low. If you are healthy why not get the area hospital or a blood bank lend a helping hand by donating a pint. Who know the life you safe might be somebody you know.

Read the article here.

Mercer County Blood Bank
New Jersey Blood Supply Centers


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Wednesday, July 18, 2007

Tips: Do-it-yourself Home Improvement Safety

Do-it-yourself home improvement and repair is just part of homeownership for many people today. With more non-professionals tackling home improvement projects, safety is the difference between having fond memories as you sit out on your new deck or viewing the thing as a vision from a nightmare. Came across this MarketWatch article that, though from June, is still relevant today. It discusses the seven tips for the do-it-yourself home improvement projects. Here are the seven tips:
  1. Wear protective eyewear and gear

  2. Keep the work site organized to prevent tripping and falls

  3. Ask for training on tools when you rent or buy them

  4. Make sure ladders are anchored securely and replace any that appear damaged

  5. Equip nail guns with sequential-trip triggers

  6. Keep combustible, solvent-soaked rags away from heat sources

  7. Quit before you're exhausted.

I would switch the last one to the top of the list because you need to keep that in mind during the entire project. Accidents and level of tiredness have a direct relationship so being mindful of your level of tiredness makes sense.
Read the full article here.

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Thursday, July 12, 2007

Buyers' Advantage in Housing Market

The National Association of Realtor's senior economist Lawrence Yun expects the new and existing home market to bounce back in 2008. This year however will see buyers with an "overwhelming advantage" in many markets.
Read the article.

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Wednesday, July 11, 2007

Housing Downtrend Effect Ripples On

We all know the housing market has been in a downtrend. We knew that related-industries from contractors to building manufacturers have all felt the pinch. Well, the effect is in the retail sector affecting such giants as Sears and Home Depot.


Read the article.


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Monday, July 09, 2007

Improving Your Financial Health

We all know having a good FICO score is essential to a financial health, whether it has to do with points from your lender to even insurance. Found an article that offers some advice on how to improve your FICO or other credit score.
The author Marshal Loeb suggest five things to repair your credit. His advice ranges from "Get a secured credit card" to "Hang in there." The article is worth a look.
Check it out here.

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Improve Your Financial Health

We all know having a good FICO score is essential to a financial health, whether it has to do with points from your lender to even insurance. Found an article that offers some advice on how to improve your FICO or other credit score.
The author Marshal Loeb suggest five things to repair your credit. His advice ranges from "Get a secured credit card" to "Hang in there." The article is worth a look.
Check it out here.


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Wednesday, May 23, 2007

Foreclosure Filings Up 62%

It has been a while but then I have been incredibly busy with my day job but I have finally carved out time to get back to these entries... Today's story comes from the Courier Post Online
A brief term definition.
Foreclosure filings: In this case, it the umbrella term used to designate default notices, auction sale notices and bank repossessions.
Foreclosure filings increase 62% over last April 2006 to 147,708. The top ten states with high foreclosure rates are:
  1. Nevada
  2. Colorado
  3. Connecticut
  4. California
  5. Ohio
  6. Georgia
  7. Florida
  8. Arizona
  9. Illinois
  10. Michigan

Read the article here.



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