Guide Me Home to North Jersey

The original structure built in 1940 on 18 Horseshoe Bend Road was a two-story brick residence. The transformation, which was started by a previous owner, was completed by the current owners over the course of several years. With an artist’s eye, each room was thoroughly thought out, high end materials were selected and plans were designed and redesigned. Amongst the projects undertaken was the addition of a 4-car garage, mudroom, laundry room and great room. The home’s exterior and interior barn board was removed and replaced with modern materials. Expansion/renovation of the master bedroom suite created a lavish bathroom, adding his and her closets and an exercise/sitting room with a private deck. The dated solarium was replaced with a gorgeous sunroom adjacent to a courtyard patio. A pool house was constructed along with the complete renovation of the pool.

In the end, they created a home that not only shows the personality and style of the owners, but respected and enhanced the property. It is now the perfect setting for entertaining. If the Talmages could see what they created, I am sure they would approve!

This home is currently being offered for sale. Please click here for more information.

Posted by:  Nadine Gelinas-Coffey

The market has never been better to buy a house and there are several factors contributing to it.

The first is the much publicized Government homebuyer tax credit which has been extended to July 1st, with a house being under contract by April 30th. Recently, Robin Dustow from Wells Fargo Bank (robin.a.dustow@wellsfargo.com), met with us to explain the parameters of this tax credit. It has been enlarged to not only include 1st time home buyers (anyone who has not owned a home for the past 3 years), but also anyone who has lived in their current home for at least the past 5 years. Listed below is the criterion that needs to be met to qualify.

Source: National Association of REALTORS® Government Affairs Division

Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled “December 1 – April 30, 2010” become effective when President Obama signs the bill. All changes made to the current credit become effective on that date, as well.

The second factor that helps prospective buyers is the loan limits on conforming loans has been extended. The limit is currently $729,750 and was set to expire on Dec 30th. Had it expired, it would have reverted back to $417,000 which means any loan above this amount would be considered a jumbo loan. Jumbo loans are usually harder to obtain and have higher interest rates. The higher loan limits for a conforming loan have been extended until December 31, 2010.



Lastly is the mortgage rate itself, which the government continues to keep artificially low. The chart above shows how historically, when rates have been low, they spike quickly afterwards.

Taking all these factors into consideration, added to house prices being down and still being able to purchase a home with as little as 3.5% down, now is certainly a good time to buy!

Information comes from others and should be verified.

Posted by:Nadine Gelinas-Coffey

Whether you’re a first time home buyer, new to the area, or finally getting around to the laundry list of home improvement changes you’ve been wanting to get to over the past 5-10 years, there are two looming questions to ask yourself; “Will the market value of my home hold up to the money I plan on investing, and who can I turn to make these improvements?”

For the first question, if you are planning a large renovation project, your best option is to talk to a local Realtor who is knowledgeable in your area. They can give you a free market analysis of your home’s value and the value of the homes in the surrounding area.

Discover a bit of Somerset County history during the “Journey Through the Past” weekend to be held Oct. 10th-11th. The Somerset County Cultural and Heritage Commission coordinated the free two-day event which includes 27 of the county’s most significant historical sites.

The Northern Somerset County tour travels through the Watchung Mountains. Don’t miss the Jacobus Vanderveer House, located on route 202/206 in Bedminster Township. The house was originally built in 1743 in a Dutch frame house style, typical to the area at the time and later enlarged in the Federal style. In 1995, it was placed on the National Register of Historic Places.

Nearby is the Pluckemin Artillery Park, America’s first artillery and training camp and site of the Continental Army overseen by General Henry Knox during 1778. An archaeological dig of the area unearthed 190,000 artifacts which will be displayed on a rotation basis in the museum. Weekend activities will include an open house, live demonstrations, re-enactments and lectures. For more information, follow the above links to their websites.

The Central tour follows Old York Road, one of Somerset County’s oldest roads. Of the 12 stops along this route, my favorite is the Somerset County Historical Court House.. The architectural details are in the Beaux-Arts Classicism style, popular at the turn of the century. The court house was made famous by Theodore Roosevelt campaigning here in 1904 and the widely covered Hall-Mills murder trial in 1927.

Posted by: Nadine Gelinas-Coffey

After my last blog about discovering the history of a home through research, I came face to face with my own. On a busy Sunday morning as I was shuttling my children to and from their activities and heading to work, I walked out to deposit some items into my car and noticed a car at the bottom of my driveway. The driver and a young girl gave a friendly wave and as I walked closer, they asked if my last name was Coffey. When I said it was, the driver replied that he had sold me the house 14 years earlier.

I remember the couple we bought the house from and recalled how nice they were. As a young couple expecting our first child we had fallen in love with the house and bought it in a weekend- yes, we are the exception!

I invited the father and daughter in to see the house where they had once lived. We exchanged tidbits about our life and what has happened over the past 14 years. The daughter, now 16, was only 2 when she left the house and my two children, now 10 and 13 were yet to be born. My children were introduced to them and I think they found it a bit surreal to realize these people had lived in our home before them. The father reminisced about the way the house once was and I was proud to show him the changes we had made over the years, but with the hesitant hope that he would approve. They were grateful for being able to come back for a glimpse of their past and I was happy to have them see how we have made the house our home.

Later that evening during dinner, my children and I were discussing how interesting it was to have had them stop by. It suddenly made me realize that one day, I or my children might find ourselves in the same position as they did. We don’t ever own a house; we just live in it and leave our mark on it from the changes we make. We can only hope that the people we pass it on to, cherish it and build as many great memories in it as we did!

Posted by: Nadine Gelinas-Coffey

When previewing homes around Morris and Somerset counties, I am always intrigued by the history behind older homes. What architect designed them and who built them? Were the materials imported or was the stone dug from a nearby quarry? What did life hold for the families that lived within the walls of this house? In grand old homes, were there staff quarters as expected back then and massive kitchens? Were there fancy parties with prominent guests?

Every family usually makes changes to a house, small or large, they alone give us a glimpse into the way people lived at that point in history. Screened porches or sleeping rooms that were once fashionable, before HVAC, have morphed into enclosed rooms, conservatories or removed altogether to make room for a new addition. Cellars, once thought to be cold storage spaces for wintering food, have now become a myriad of things–children’s play rooms, bar/entertainment rooms, spas, bowling alleys, or personal home theatres.

The size of a home has always been a sign of wealth and the new massive home construction of recent years has certainly been following that trend. There are advantages to a new home and a lot of the exquisite details from yesteryear can be reproduced at a hefty cost. However, there is nothing quite like the history and unique qualities of an older home! For more information on the history of homes in your area, contact your local historical society.

You might be amazed to find out something about your house!

• Chatham historical society
  
• Madison Historical Society-Kate Malcolm 973-377-0722
  
• Harding Historical Society-Ms. Linda Meister, President, 973-292-3661
  
• Morris County Historical Society
  
• The Historical Society of the Somerset Hills
  
• Chester Historical Society
  

If you are interested in previewing any of the historical homes currently represented by Turpin, you can contact me via our website at www.turpinrealestate.com.

Posted by:Nadine Gelinas-Coffey

For those of you who bought your homes in northern New Jersey in the late 90’s, you will understand the phenomenon of the Mid-Town train line. Morris, Essex and Union counties were always desirable areas, and in the 90’s, the first time home buyer could still purchase their starter home in this area with relative ease. So what happened to change all that? The Mid-Town direct train line was introduced, which suddenly made towns connected on the Morris and Essex train lines more accessible to the city.

“Direct rail service has a positive impact on property values. In 2002, researchers at Columbia University studied real estate values around the Morris and Essex Lines since the introduction of MidTOWN DIRECT service. They found that homes within walking distance of MidTOWN DIRECT stations were worth about $90,000 more than comparable homes elsewhere in the same community.” (source: arctunnel.com/about)

For those that left the city before the induction of this service, you were in luck. Housing prices sky rocketed once the train line was introduced. The appeal of suburbia, combined with an easy commute, made moving out of the city very desirable. For those who moved out after the train line was introduced, found their first time home purchase setting new records in housing prices!

Fast forward to 2009 where we are in the midst of the fall-out from the sub-prime mortgage crisis and housing prices have depreciated- but nowhere near where they were in the late 90’s. Chances are housing prices will never get back to where they were then. The good news though, is that New Jersey has been pushing forward on their plan for the ARC Tunnel.

The State is planning on not only building an additional tunnel for the trains to utilize, but will also increase the frequency of the number of trains into New York. They have already started to replace older trains with new double-decker trains, which are able to carry the maximum amount of passengers with an increased efficiency in energy consumption while maintaining safe distance between trains. Once the ARC Tunnel is completed,

The following rail lines will finally receive direct (transfer-free) service to Manhattan:

• Main Line
• Bergen County Line
• Pascack Valley Line
• Raritan Valley Line
• Port Jervis Line
• North Jersey Coast Line (points south of Long Branch)
• Morristown Line (points west of Dover)
• Boonton Line (points west of Montclair State University)

The following rail lines will get more frequent and express service:

• Northeast Corridor
• North Jersey Coast Line
• Morristown Line
• Montclair Line
• Gladstone Branch
  (source: arctunnel.com/about) (new jersey transit)

Although this project is not slated for completion until 2017, housing prices are sure to be affected. You have been forewarned…history tends to repeat itself!

Posted by:Nadine Gelinas-Coffey

Now that the temperatures are turning warmer and early spring bulbs are emerging, it is time to think about spring cleaning especially if you are selling your home. Selling your house can be a daunting task and at times a bit overwhelming. But, if you follow a few key tips, it can simplify the whole process.

• Clean, clean, clean and then clean again! Get to those “honey-do” lists that have been waiting. Hire a handyman if necessary. Consider professional carpet cleaners and fresh coats of paint (neutral colors are best). View it as return on your investment, as a well decorated, clean house will typically sell at a higher price. If you have already moved out, consider a staging company. Barren walls and square rooms offer little appeal to buyers and can feel sterile. Especially if it’s a large home, potential buyers may have a hard time imaging what all that space is for!

• Walk through your house with a buyer’s eye. Think of the things that you are looking for in searching for your new house, chances are your potential buyers are looking for the same thing. Notice any negatives and remediate them if possible. Remember what made you decide to purchase your home in the first place. Highlight those details and any improvements you have made.

• It’s not personal- You need to view your house as a commodity once you decide to sell. Your memories in that house will always be with you, but a potential buyer wants to envision making their own memories. It is easier to do if you reduce the amount of personal memorabilia. Your children’s artwork plastered all over your fridge, while special to you, does not sell your kitchen!

• Pack it up! The old adage, less is more, holds true in this case. Throw out anything that you will not want to move to your new home. Make a pile of old clothes, toys and books to donate to a local charity. De-clutter your closets, counters and book shelves as much as possible.

All these steps will help to alleviate the stress leading up to a showing appointment or open house and represent your house in the best possible light!

Posted by: Nadine Gelinas-Coffey