Category: Real Estate

Edison Board of Education to sue Township of Edison

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New Jersey real estate lawyers helps clients with all aspects of buying or selling a home.By: Chris Ann Wright, Esq.

Edison Board of Education plans to sue the Township of Edison for overcrowding. D’Elia, Gianluca, “N.J. town is getting so big, its school district says it’ll sue to stop “overcrowding crisis”, NJ Advance Media for NJ.com. The Township of Edison has seen the number of children in their public school system increase by 1,300 students over the last three years. Id. Basically, the Board says it just can’t keep up with the demand for building and classroom space. Id. The Edison Public Schools are overcrowded which is impacting the work environment and the students’ ability to learn. Id. Many have started to ask the question “Is it time to slow down real estate growth due to its impact on the existing infrastructure i.e. roads, buildings and schools?”

It’s no secret that two different boards within a local government can have competing interests. The town council is considering tax revenue, roads, parks and senior citizen services, to name a few. The Board of Education is attempting to educate all the children in the town based on limited resources. On one hand, more housing means more tax revenue and more voters, yet more families living in town also means more strain on municipal services and more children attending school. It’s a double edged sword. Municipalities want their town to be a great place to live. They want to provide a safe and clean environment where people can safely raise their families. Yet, if the town grows too quickly, entities like the Board of Education can’t keep up.

Frank Belluscio, communications director at the New Jersey School Boards Association, was interviewed for this article. Id. He stated that it was important for municipalities and school boards to communicate about the impact of real estate development on the entire town. Id. “Both the school district and municipality have limited resources—state aid is limited, local revenue growth is constrained by the tax-levy cap, and property taxpayers are often overburdened,” stated Belluscio. Id. When various boards within a community do not communicate it’s the taxpayers that suffer.

Before buying or selling home, make sure you do your research. If you have questions regarding real estate or are buying or selling a home, consider calling a real estate lawyer at Lyons & Associates, PC.. Lyons & Associates prides itself on giving sound advice in many areas, including real estate. At your request, we will recommend realtors in specific areas, mortgage brokers and title companies to assist you with your home buying experience. Our office places a premium on personalized service and attention. For a private consultation, contact us by e-mail or call our office at 908-575-9777.

We are Going Through a Divorce. How Do We Sell the Marital Real Estate Assets?

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Somerville real estate lawyers can help with the sale of marital real estate assets.Getting divorced is not fun – surprise! One of the many complex issues is the marital home and other real property that the spouses co-own. Deciding when to sell the home during the divorce process is a conversation you need to have with your matrimonial attorney.

Whatever the decision – there are a lot of emotions tied to marital real estate which heightens the overall stress and aggravation that comes with selling property. Time and timing does matter. The longer the property sits, the carrying costs grow and the property gets harder to sell. My sale process allows you to move on with your life in 90 days or less.

The Auction Process as a Means of Selling Real Estate

Tranzon sells the real estate quickly, exposes the property to a wide audience and closes without contingencies. The purchase agreement will be contingency free – no financing, no inspections – nothing that can derail the sale. Which means…nothing can derail your ability to move on from the property and move on with your life.

Call John Dobos from Tranzon Auction Properties @ 866-872-6966, located at their Somerville, NJ office about any real estate matters you may have.

Tranzon Auction Properties

19 North Bridge Street

Somerville, NJ 08876

Email: jdobos@tranzon.com

To learn more about Tranzon, click here.

Inherited Property – Fast Sale Eliminates Risk

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Somerville real estate lawyers advocate for the fast sale of inherited property.The inheritance process is not quick and easy. This is not what people want to hear when their first question is, “when will I get my inheritance?”

Many steps have to be taken before an estate is closed and inheritors get their percentage.

There are taxes to consider, and if the estate involves the sale of a house, it’s important to get the home on the market as soon as possible, keep it well maintained and insured until the sale closes

Trusted professionals are essential throughout the process.

Sometimes Selling Quickly is the Best Strategy

Having another property to keep up is hard work. There are taxes to pay, driveways to shovel, yards to mow, heat bills, electric bills, and these are just the regular items. Typically selling as soon as possible is the best idea. There are so many options when selling your property today.

Working with a licensed real estate agent and auctioneer nearly guarantees a sale in 90 days. You get all the benefits of marketing, exposure and seller friendly terms that typically have the buyer doing their due diligence before the auction. When you work with a licensed real estate agent and auctioneer, you won’t experience pesky contingencies that cause a sale to fall apart. No matter what you decide, find and work with professionals you like, because you’ll be spending a lot of time together.

Tranzon works with attorneys, executors and other estate professionals. We’ve recently sold more than $20 million worth of estate property. As a full service estate sale solution – we’ll work with you on any needed property updates and maintenance. We’ll also develop an appropriate sale strategy that maximizes price and minimizes risks and carrying costs.

Call John Dobos at 866-872-6966 about any real estate needs you have. Located in Somerville, NJ.

Tranzon Auction Properties

19 North Bridge Street

Somerville, NJ 08876

Email: Jdobos@tranzon.com

To learn more about Tranzon, click here.

Millennials Feel Owning a Home is a Priority

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Somverville family law firm assist with sound advice in real estate matters. Written By: Chris Ann Wright, Esq.

According to the Bank of America’s 2018 Homebuyer Insight Report, 72% of millennials feel owning a home is a top priority. Interesting to note is that only 50% of millennials feel getting married is a priority and 44% feel that having children is a priority. It seems that many millennials feel that they should have a stable housing situation before they start a family. Many millennials also feel “grown up” when they own a home. In the eyes of their peers, owning a home means achieving personal success.

The only thing more important than owning a home to millennial is being able to retire one day. Conversely, only about one-third of millennials have begun to save for retirement according to a report by the National Institute on Retirement Security. Information regarding the purchase of a home and, for that matter, saving for retirement is at everyone’s finger tips in this age of technology. Often people forget to conduct their own research and self opt out of buying a home due to home buying myths. Some feel their credit score is too low or they already have student debt so they don’t feel they will be approved for a loan. Often these types of limitations do not stop people from buying a home. Many mortgage companies have ways to work around such obstacles and will assist you with the home buying process.

When buying or selling a home, consider using Lyons & Associates, P.C. as your real estate attorneys. Lyons & Associates prides itself on giving sound advice in many areas, including real estate. At your request, we will recommend realtors, mortgage brokers and title companies to assist you with your home buying experience. Our office places a premium on personalized service and attention. For a private consultation, contact us by e-mail or call our office at 908-575-9777.

Why aren’t millennials buying homes?

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Somerville real estate lawyers offer thoughts on why millennials aren't buying homes.Written By: ChrisAnn Wright, Esq.

Many have commented on the fact that millennials don’t seem to be buying homes, at least not the traditional homes in the suburbs. One of the biggest reasons is these homes are not affordable. Once upon a time, the dream was to get married, buy a house and fill it with children. Today, those starting out in the work force can’t afford to buy a home in suburbs. One major reason is the baby boomers.

Baby boomers have traditionally been against affordable housing. The phrase “not in my neighborhood” is common among baby boomers. The lack of affordable housing in the suburbs has caused the millennials to stay in the cities near transportation and apartments. In addition, many baby boomers want a favorable return on their investment. Baby boomers have priced their homes so that the younger generation can’t afford to buy them. Many millennials have student loans to pay and can’t afford the type of mortgage required to buy large suburban homes. On the flip side, the price of long term care has skyrocketed. So baby boomers need to realize a certain amount from the sale of their homes in order to move into assisted living or a senior community.

Finally, in many suburbs in New Jersey, apartments are being built along the railways. Towns like Westfield, Fanwood, Cranford and Somerville have all constructed mixed use residences. In other words a building built near a train station may have stores or businesses on the ground level and apartments above. Millennials who don’t own a car can easily shop the businesses in the center of town and take the train to work. There’s no need to own a home or a car. Many of these apartments are brand new and don’t require maintenance. These new projects help the town prosper while providing millennials with affordable housing. This combination causes baby boomer homes to remain on the market.

When buying or selling a home, consider using Lyons & Associates, PC as your real estate attorneys. Lyons & Associates prides itself on giving sound advice in many areas, including real estate. We place a premium on personalized service and attention. For a private consultation, contact us by e-mail or call our office at 908-575-9777.