FOR IMMEDIATE RELEASE - August 3, 2009 NJ Newlyweds Find Opportunities in Current Real Estate Market
“Planning a wedding can be a very stressful undertaking, and the prospect of buying a home on top of that can be daunting,” said 2009 New Jersey Association of REALTORS® (NJAR®) President Diane Dilzell. “NJAR® believes it is beneficial for couples planning to purchase a home while also planning a wedding to hear from others who are in a similar position.” NJAR® has showcased some first-hand accounts of engaged or newly married couples’ experiences on a website about the current market – www.REALstoryNJ.com – in an effort to educate others who might be in similar circumstances. Following are some of the real stories that offer insight for couples considering entering the current real estate market. Lauren and Chris Earlier this year, before Chris and Lauren were about to tie the knot, the young couple sought to make their dream of owning a home a reality. For them, the timing of their home search was in sync with market conditions that suited the couple well, especially low interest rates and the opportunity to qualify for the first-time home buyer $8,000 tax credit. “We were saving for a while, and this just seemed like the perfect time to buy,” said Chris, a 26-year-old New Jersey native. “The real advantages available out there outweighed anything we might have heard others worrying about.” The couple bought a home in Avenel, close to their families and the neighborhoods they grew up in. “I love New Jersey,” said Chris. “I was born and raised here, and wouldn’t think of living elsewhere. Plus, the simple train commute to my job in New York City makes it such a convenient place to live.” Jim and Lindsay Jim heard some negativity about the real estate market but never believed it. He had his own reliable market source – his mother, a REALTOR® - who helped him and his fiancée, Lindsay, move from their Lawrence Harbor bungalow to a larger home. After two months of house-hunting, Jim’s mom and REALTOR®, Peggy, called him from a Sheriff’s Sale, or auction of a foreclosed home, in Parlin with a great price. Peggy estimated that it was priced at 40 percent below market value. Buying a home through a sherriff’s sale, Jim and Lindsay had to bid on the home without getting the chance to even see it. Even after closing, the owner didn’t let the couple inside the home until he left. “Lindsay was a little scared but I was hopeful,” said Jim. “I could see its size from the outside The couple put a bid on the home and closed two months later. Because of the affordable price of the home that came with the unique opportunity, they had the chance to renovate and fix any of the issues in the home that they were unable to see before buying it. Distressed properties, such as foreclosures, short sales and sheriff’s sales, are becoming more prevalent in today’s market. Although these properties may offer a good deal for buyers, consumers are encouraged to act with caution. Consult with a REALTOR® who can navigate these often complex transactions, obtain a thorough home inspection to assess any major property damage, and consult with other experts as needed. For more testimonials of people who have recently bought or sold real estate in New Jersey, and to read buyer and seller tips from real estate professionals visit www.REALstoryNJ.com. If you are a recent buyer or seller in New Jersey and would like to help others by sharing your story, e-mail NJAR® at kcassidy@njar.com. The New Jersey Association of REALTORS®, with approximately 50,000 REALTOR® and REALTOR-ASSOCIATE® members, is one of the largest trade organizations in the state. NJAR®’s membership is comprised of real estate professionals who subscribe to a strict code of ethics and are members of the national and local REALTOR® organizations. As the leading advocate for the real estate industry and private property rights in New Jersey, NJAR® is committed to protecting the dream of homeownership. For more information, please visit www.njar.com. Related story: Engaged couple juggles buying a house while planning their wedding (NJAR) Related story: Newlyweds start a family in Mays Landing (NJAR) Related video: Are you really going to live with your in-laws? (NJAR) # # #
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EDISON, NJ– With high affordability, an $8,000 tax credit available for first-time home buyers, and low interest rates, many New Jersey couples are having success finding homes to purchase together just in time for their weddings. 
