Somers Point Real Estate for Sale by Joseph Zarroli and Johnna Zarroli of Island Realty Group

Joseph Zarroli and Johnna Zarroli exclusively sell Real Estate at the Jersey Shore
and are available 7 days a week 364 days a year for all your real estate needs!

Somers Point NJ  Condos, Homes and Investment Properties
Somers Point New Jersey Real Estate - Atlantic County New Jersey Real Estate
Joseph Zarroli -and- Johnna Zarroli
Somers Point NJ Realtors

Island Realty Group
609.522.4999
Joe@IRGroupNJ.com
Somers Point Condos, Homes, Building Lots and Investment Properties for Sale

Welcome to Our Buyers' Guide...
Information to assist with your purchase of Somers Point New Jersey Real Estate
including
Why You Should Use a Realtor and other important questions!

Somers Point Real Estate for Sale - Somers Point New Jersey 08244 - buysomerspointnewjersey        Somers Point Real Estate for Sale - Somers Point New Jersey 08244 - buysomerspointnewjersey        Somers Point Real Estate for Sale - Somers Point New Jersey 08244 - buysomerspointnewjersey

      Somers Point Real Estate for Sale - Somers Point Home, Condos and Investment Properties for Sale        Somers Point Real Estate for Sale - Somers Point New Jersey 08244 - buysomerspointnewjersey        Somers Point Real Estate for Sale - Somers Point New Jersey 08244 - buysomerspointnewjersey      
    

Somers Point Real Estate for Sale - Somers Point New Jersey 08244 - buysomerspointnewjersey        Somers Point Real Estate for Sale - Somers Point New Jersey 08244 - buysomerspointnewjersey        Somers Point Real Estate for Sale - Somers Point New Jersey 08244 - buysomerspointnewjersey

REASONS TO USE A LICENSED REALTOR

A real estate transaction is complicated. In most cases, buying or selling a home requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page government-mandated settlement statements. A knowledgeable guide through this complexity can help you avoid delays or costly mistakes 

Selling or buying a home is time consuming. Even in a strong market, homes in our area stay on the market for an average of 90 days. And it usually takes another 45 days or so for the transaction to close after an offer is accepted 

Real estate has its own language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with someone who speaks that language 

Somers Point Real Estate for Sale - Realtor Logo - Joe and Johnna ZarroliREALTORS have done it before. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you’ve done it before, laws and regulations change. That’s why having an expert on your side is critical 

REALTORS provide objectivity. Since a home often symbolizes family, rest, and security, not just four walls and roof, homeselling or buying is often a very emotional undertaking. And for most people, a home is the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you keep focused on both the business and emotional issues most important to you

REALTORS are members of the NATIONAL ASSOCIATION OF REALTORS, a trade organization of more than 1 million members nationwide. REALTORS ubscribe to a stringent code of ethics that helps guarantee the highest level of service and integrity


QUESTIONS YOU SHOULD ASK AN AGENT YOU ARE CONSIDERING:

How long have you been in residential real estate sales? Is it your full-time job? (While experience is no guarantee of skill, real estate, like many other professions, is mostly learned on the job.)

How many homes did you and your company sell last year?

How many days did it take you to sell the average home? How did that compare to the overall market?

How close to the initial asking prices of the homes you sold were the final sale prices?

What types of specific marketing systems and approaches will you use to sell my home? (Look for someone who has aggressive, innovative approaches, not just someone who’s going to put a sign in the yard and hope for the best.)

Somers Point Real Estate for Sale - Realtor Logo - Joe and Johnna ZarroliWill you represent me exclusively, or will you represent both the buyer and the seller in the transaction? (While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. A good practitioner will explain the agency relationship to you and describe the rights of each party. It’s also possible to insist that the practitioner represent you exclusively.)

Can you recommend service providers who can assist me in obtaining a mortgage, making repairs on my home, and other things I need done? (Keep in mind here that real estate professionals should generally recommend more than one provider and should tell you if they receive any compensation from any provider.)

What type of support and supervision does your brokerage office provide to you? (Having resources, such as in-house support staff, access to a real estate attorney, or assistance with technology, can help a real estate professional sell your home.)

What’s your business philosophy? (While there’s no right answer to this question, the response will help you assess what’s important to the real estate practitioner—fast sales, service, etc.—and determine how closely the practitioner’s goals and business emphasis mesh with your own.)

How will you keep me informed about the progress of my transaction? How frequently? Using what media? (Again, this is not a question with a correct answer, but that one reflects your desires. Do you want updates twice a week or don’t want to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?

Could you please give me the names and phone numbers of your three most recent clients?




MAKE A WISH LIST FOR YOUR NEW PROPERTY: Somers Point Real Estate for Sale - Realtor Logo - Joe and Johnna Zarroli

  • What neighborhoods would you prefer?
  • How close do you need to be to: Schools, Hospitals, Public Transportation, an Airport, Shopping Malls?
  • What school systems do you want to be near?
  • What architectural style(s) of homes do you prefer?
  • Do you want a one-story or two-story house?
  • How old a home would you consider?
  • How much repair or renovation would you be willing to do?
  • Do you have special facilities or needs that your home must meet?
  • Do you require a fenced yard or other amenities for your pets?

     


    10 THINGS TO TAKE THE TRAUMA OUT OF HOME BUYING 

     

    1. Find a real estate professional who’s simpatico. Homebuying is not only a big financial commitment, but also an emotional one. It’s critical that the practitioner you choose is both skilled and a good fit with your personality.
    2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.
    3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
    4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.
    5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.
    6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.
    7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
    8. Factor in maintenance and repair costs in your post-homebuying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.  
    9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.
    10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.

     

     

    TIPS FOR FINDING THE PERFECT NEIGHBORHOOD 

    The neighborhood you choose can have a big impact on your lifestyle—safety, available amenities, and convenience all play their part
    Make a list of the activities—movies, health club, church—you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engaging in your most common activities
    Check out the school district. The Department of Education in your town can probably provide information on test scores, class size, percentage of students who attend college, and special enrichment programs. If you have school-age children, also consider paying a visit to schools in the neighborhoods you’re considering. Even if you don’t have children, a house in a good school district will be easier to sell in the future
    Find out if the neighborhood is safe. Ask the police department for neighborhood crime statistics. Consider not only the number of crimes but also the type—burglaries, armed robberies—and the trend of increasing or decreasing crime. Also, is crime centered in only one part of the neighborhood, such as near a retail area?
    Determine if the neighborhood is economically stable. Check with your local city economic development office to see if income and property values in the neighborhood are stable or rising. What is the percentage of homes to apartments? Apartments don’t necessarily diminish value, but they do mean a more transient population. Do you see vacant businesses or homes that have been for sale for months?
    See if you’ll make money. Ask a local REALTORÒ or call the local REALTORÒ association to get information about price appreciation trends in the neighborhood. Although past performance is no guarantee of future results, this information may give you a sense of how good an investment your home will be. A REALTORÒ or the government planning agency also may be able to tell you about planned developments or other changes in the neighborhood—like a new school or highway—that might affect value
    See for yourself. Once you’ve narrowed your focus to two or three neighborhoods, go there, and walk around. Are homes tidy and well maintained? Are streets quiet? Pick a warm day if you can and chat with people working or playing outside. Are they friendly? Are their children to play with your family?



    10 STEPS TO PREPARE FOR HOME OWNERSHIP
    Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income
    Develop a wish list of what you’d like your home to have. Then prioritize the features on your list
    Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety
    Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 percent and 7 percent of the home price
    Get your credit in order
    Obtain a copy of your credit report
    Determine how large a mortgage you can qualify for. Also explore different loans options and decide what’s best for you
    Organize all the documentation a lender will need to preapprove you for a loan
    Do research to determine if you qualify for any special mortgage or downpayment-assistance programs
    Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable 
    Find an experienced REALTORÒ who can help you through the process




    5 COMMON FIRST TIME BUYER MISTAKES 
    Somers Point Real Estate for Sale - Realtor Logo - Joe and Johnna ZarroliThey don’t ask enough questions of their lender and miss out on the best deal 
    They don’t act quickly enough to make a decision and someone else buys the house
    They don’t find the right real estate professional who is willing to help you through the home buying process 
    They don’t do enough to make their offer look good to a seller 
    They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years




    7 REASONS TO OWN YOUR OWN HOME 
    Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home 
    Gains. Between 1998 and 2002, national home prices increased at an average of 5.4 percent annually. And while there’s no guarantee of appreciation, a 2001 study by the NATIONAL ASSOCIATION OF REALTORSÒ found that a typical homeowner has approximately $50,000 of unrealized gain in a home 
    Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home 
    Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax 
    Predictability. Unlike rent, your mortgage payments don’t go up over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will rise 
    Freedom. The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home 
    Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity 





    PROPERTY TAX QUESTIONS YOU SHOULD ASKSomers Point Real Estate for Sale - Realtor Logo - Joe and Johnna Zarroli
     
    1. What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information.
    2.  
    3. How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed.
    4.  
    5. Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as California, taxes may be frozen until resale.

    Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate?

    Does the current tax bill reflect any special exemptions that you might not qualify for? For example, many tax districts offer reductions to those 65 or over.

     
    THE PROS AND CONS OF CONDO LIVING
    Somers Point Real Estate for Sale - Realtor Logo - Joe and Johnna Zarroli
    Condominiums and townhouses offer an affordable option to single-family homes in most areas. But consider these facts before you buy:
    1. Storage. Some condos have storage lockers, but usually there are no attics or basements to store belongings
    2. Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you hate yard work, this may be the perfect option for you
    3. Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home
    4. Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home
    5. Security. Many condos have keyed entries and or even door attendants. Plus, you’ll be closer to other people in case of an emergency
    6. Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees agreed to by the condo board, whether or not you’re interested in the amenity or not
    7. Resale. The ease of selling your unit is more dependent on what else is for sale in your building, since units are usually fairly similar. Single-family homes usually are more individual
    8. Freedom. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer
    9. Proximity. You’re much closer to your neighbors in a condo or town home. If possible, try to meet your closest prospective neighbors before making a decision


    10 QUESTION TO ASK THE CONDO BOARD OF DIRECTORS
    Before you buy, contact the condo board with the following questions. In the process, you’ll learn how responsive—and organized—its members are.
     
    1.      What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.
    2.      What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can’t rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you.
    3.      How much does the association keep in reserve? How is that money being invested?
    4.   Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a certain percentage each year to build reserves to fund future repairs. To determine if the assessment is reasonable, compare the rate to others in the area.
    5.      What does and doesn’t the assessment cover—common area maintenance, recreational facilities, trash collection, snow removal?
    6.      What special assessments have been mandated in the past five years? How much was each owner responsible for? Some special assessments are unavoidable. But repeated, expensive assessments could be a red flag about the condition of the building or the board’s fiscal policy.
    7.      How much turnover occurs in the building?
    8.      Is the project in litigation? If the builders or homeowners are involved in a lawsuit, reserves can be depleted quickly.
    9.      Is the developer reputable? Find out what other projects the developer has built and visit one if you can. Ask residents about their perceptions. Request an engineer’s report for developments that have been reconverted from other uses to determine what shape the building is in. If the roof, windows, and bricks aren’t in good repair, they become your problem once you buy.
    10.  Are multiple associations involved in the property? In very large developments, umbrella associations, as well as the smaller association into which you’re buying, may require separate assessments.

    Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps :
     
     
    1. Get prequalified for a mortgage. You’ll be able to make a firm commitment to buy and make your offer more desirable to the seller
    2. Stay in close touch with your real estate sales associate to find out first about new listings that come on the market. And be ready to go see a house as soon as it goes on the market
    3. Scout out new listings yourself. Look at Internet sites, newspaper ads, and drive by the neighborhood frequently. Maybe you’ll see a brand-new “for sale” sign before anyone else.
    4. Be ready to make a decision. Spend lots of time in advance deciding what you must have so you won’t be unsure when you have the chance to make an offer.
    5. Bid competitively. You may not want to start out offering the absolute highest price you can afford, but don’t try to go too low to get a deal. In a tight market, you’ll lose out.
    6. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you’ll probably be able to sell your house rapidly. Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.
     
    Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy anything. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.

     

     


  • somers point real estate for sale - somers point realtors - somers point homes  
    Joseph Zarroli
    BROKER of RECORD - OWNER


    Johnna Zarroli
    SALESPERSON - OWNER

    Office: 609.522.4999     Cell: 609.402.8900
    eFax: 866.571.9766

    email:
    Joe@IRGroupNJ.com

    2007-2008-2009-2010
    MULTI MILLION DOLLAR SALES



    FULL TIME AGENTS & YEAR-ROUND RESIDENTS OF THE SOUTH JERSEY SHORE



    Joseph Zarroli has earned the following Certifications & Designations

           


    Please visit our other top-ranked websites:

    www.BuyWildwood.com 
    www.JoeWildwood.com 
    www.WildwoodRents.com
    www.BuyOceanCity.com 
    www.BuyOceanCityNewJersey.com 
    www.BuySeaIsleNJ.com 
    www.BuyStoneHarbor.com 
    www.IRGroupNJ.com 
    www.IslandRealtyGroupNJ.com 
    www.ShoreRealEstateSearch.com 
    www.ShoreBusinessForSale.com 

                

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