Latest News Letter for Paramus, River Edge, Oradell, Emerson and Fairlawn NJ Real Estate Market Conditions

http://realtytimes.com/c/CarmeloOliveri

FHA Mortgage Up to 25%______www.OurNJhouse.com

NAR: FHA Market Share Must Be Supported
The National Association of REALTORS^® urged Congress to invest resources that will ensure FHA’s continued role in stabilizing housing. A large portion of today’s home buyers would be unable to realize their dreams of homeownership without the Federal Housing Administration’s mortgage insurance program, NAR says.

FHA’s market share has grown from less than 3 percent to more than 25 percent in a short period of time. NAR submitted testimony to the House Financial Services Subcommittee expressing support for increased FHA staffing and resources to keep up with this rising demand.

“As the leading advocate for homeownership, NAR strongly supports FHA’s single- and multi-family mortgage insurance programs, and we have worked diligently with Congress to fashion housing policies that ensure federal housing programs meet their mission responsibly and efficiently,” NAR President Charles McMillan says. “FHA is now the primary source of safe affordable mortgage financing for American families. To keep up with increasing demand, FHA must expand its capabilities, but FHA has not yet received the additional staffing and other resources commensurate with its expanded role in financing mortgages.”

REALTORS^® have advocated strengthening oversight of and preventing fraud in FHA and other U.S. Housing and Urban Development programs for several years. Despite voiced concerns about its soundness and oversight, studies show that FHA remains financially sound and should remain so in the coming years. The FHA-approved group of lenders maintains strict oversight of loan originators.

“Since FHA has been underinvested in for a number of years, we hope Congress will act now to provide them with resources to increase staffing and invest in technological improvements,” McMillan says. “We believe provisions of what the U.S. Senate has proposed regarding FHA loans in S. 896, the Helping Families Save Their Homes Act of 2009, will be a big step in providing the type of necessary oversight now that FHA is such a major force in the market. We look forward to working with Congress and HUD to make sure that FHA continues to offer stable, affordable, safe options for home buyers across the country.”

Paramus Pool is Open

For assistance is selling your home in Bergen County, River Edge NJ, Oradell NJ, Paramus NJ, Emerson NJ, Fairlawn NJ. Contact Carmelo Oliveri, Coldwell Banker Realtor at (201) 618-2854. Visit our web site at www.OurNJhouse.com or www.OurBergenCountyHouse.com

Fair Lawn High School holds 42nd Annual Marathon, May 15 - 16

Story From Paramus Post 

Fair Lawn High School announces their 42nd annual Marathon to be held Friday, May 15th from 3:00pm – 11pm and Saturday, May 16th from 10am – 6pm at the High School, 14-00 Berdan Avenue, Fair Lawn Originated in 1967, members of the high school senior class get together to plan activities with a goal of raising money for local charities. Some past recipients of funds raised by the Fair Lawn High School Marathon include the Children’s Therapy Center, Fair Lawn Volunteer Ambulance Corp, Fair Lawn Fire Department, Eva’s Kitchen, The Food Bank in Fair Lawn, Shelter our Sisters as well as local families in need.

This year’s event is chocked full of activities. Start with Marathon food nights where a portion of proceeds are donated to the Fair Lawn High School Marathon. Participating Fair Lawn restaurants include Modern Bagel (May 11, 5pm – 9pm), Johnny and Hanges (May 12, 3pm – 9pm), Ness Pizza (May 13, 5pm – 8pm), and Giovanni’s Deli (May 14, 5pm – 9pm).

The opening ceremonies begin on Friday, May 15 with a faculty/senior softball game at 3pm. Softball, volleyball and ultimate Frisbee games take place from 4:00pm – 8pm, followed by an outdoor movie on the field of “Heavyweights,” with a preview including episodes of “Family Guy.” The community is invited to bring chairs or blankets to enjoy the show.

Saturday, May 16 will include a car wash, community rummage sale, carnival games, softball, volleyball, ultimate Frisbee and more. The Blood Bank will be visiting the Fair Lawn High School Marathon from 10am – 1pm on Saturday. At 3:00pm, there will be a Powder Puff Football Game followed at 5:00pm with the Mr. and Mrs. Fair Lawn Competition.

The annual Boptones rock concert rounds out the activities.

Donations of merchandise, food and drinks are being accepted. All local schools and organizations are invited to participate in softball, kickball and any other contest. If interested in making a donation to participate in any event, contact Laurie Osback, Fair Lawn High School Parent Teacher Association President/Marathon Chairperson, loflhspta@msn.com or 201-791-8213.

Donations can be made payable to FLHS Marathon 2009 and mailed to Fair Lawn High School, 14-00 Berdan Avenue, Fair Lawn, NJ 07410, Attn: Marathon.

For assistance is selling your home in Bergen County, River Edge NJ, Oradell NJ, Paramus NJ, Emerson NJ, Fairlawn NJ. Contact Carmelo Oliveri, Coldwell Banker Realtor at (201) 618-2854. Visit our web site at www.OurNJhouse.com or www.OurBergenCountyHouse.com

Fairway Market’s New Catering Department Makes Entertaining Easier

Story From Paramus Post

BBQ Selections, Lobster Pots, Fruits Platters, Main Courses, Hors d’ Oeuvres, Sushi – just a sampling of the mouth-watering choices for Summer Festivities and Gatherings

To celebrate the opening of the new catering department at Fairway Market in Paramus, three new specially crafted menus have been created: Lobster Pots for Two with lobsters, clams, mussels, corn on the cob and potatoes, a Classic American BBQ and an Extreme BBQ, featuring sausage, hot dogs, burgers, spare ribs and chicken.

Fairway, the iconic NYC gourmet supermarket, which opened its first New Jersey store in Paramus (Rt. 17 and Ridgewood Avenue) on March 25th, is pleased to offer its customers these three new selections along with the popular and reasonably priced complete Fairway catering menu. There is an array of finger foods, salads, desserts, sandwiches, brunch and breakfast foods, side dishes, kids’ assortment platter, family style entrees and more, all made in Fairway’s kitchens from the finest ingredients.

“We will work with our customers to help them plan a menu and make their event a spectacular success, food-wise that is, “ said Jennifer Fellman, the Paramus Catering Manager and a New Jersey native. “We recognize how important food is to any gathering and Fairway has the best there is to offer.”

Fellman, who earned a degree in Environmental Sciences with an emphasis in Food Studies from Prescott College in Arizona, grew up around food. Her father owns Abraham’s Natural Foods, a brand of 20 Middle-Eastern dips based in New Jersey. Throughout college she worked in a local café as a line cook and catering assistant.

The regular menu, available at www.fairwaymarket.com, will include a 10 percent discount through the month of June.

Jennifer Fellman, Catering Manager

To reach the catering department at Fairway Paramus, call 201 444 5455 ext. 633.

Here are descriptions of the newest choices on the catering menu:
Lobster Pot for Two ($59.99)
Lobsters (two) 1.25 -1.5 pounds each
Clams (dozen)
Mussels (dozen)
Corn on the Cob
Potatoes
Includes portable lobster pot, lemon wedges and garnish

Classic American BBQ ($99) Serves 10
Whole Filet Mignon (approx 4 to 4.5 pounds)
Boneless Chicken Breast (3 pounds) or
Pork Spare Ribs (4 pounds)
Sirloin burgers & buns (10)
Boar’s Head Hot Dogs & buns (10)
Potato Salad (3 pounds)
Coleslaw (3 pounds)
Choice of marinade

Extreme BBQ (serves 10) ($99)
Fairway’s Homemade Cheese & Parsley Sausage
Boneless Chicken Breast (4 pounds)
Tri-colored Bow Tie Primavera (3 pounds)
Ceaser or Tossed Salad
Peppers & Onions ( ½ tray)
Italian Bread (3 loaves)
Choice of marinade

For assistance is selling your home in Bergen County, River Edge NJ, Oradell NJ, Paramus NJ, Emerson NJ, Fairlawn NJ. Contact Carmelo Oliveri, Coldwell Banker Realtor at (201) 618-2854. Visit our web site at www.OurNJhouse.com or www.OurBergenCountyHouse.com

Bergen County NJ Foreclousre Update, Many More Please Email Me

Buyers amazing time to purchase, sellers if you are looking to sell in the near future sell NOW!!!! Banks are liquidating properties and this will in turn affect your resale value

Cresskil NJ            2Br 1bth Cape             $259,900

Garfield NJ            3Br 2bth Col                $235,900

Hackensack           2Br 1bth Col                $118,000

Hillsdale                 5Br 4bth CHC             $635,800 New Home

New Milford          2br 1bth Col                $279,900

Norwood               3Br 1.5bth  S/L            $381,150

Park Ridge             3Br/3bth 100×125 lot   $333,600

Ridgewood            5br 3.5Bth New home   $699,900

River Edge             4br 3bth Col                 $623,700 Originally $760K

Upper Saddle River 7Br 7.5bth  11,000 Sqft of Luxury Living Space $2,795,000 Originally $3,990,000 (Not a Foreclosure/Short sale Just an Amazing deal)  

For assistance is selling your home in Bergen County, River Edge NJ, Oradell NJ, Paramus NJ, Emerson NJ, Fairlawn NJ. Contact Carmelo Oliveri, Coldwell Banker Realtor at (201) 618-2854. Visit our web site at www.OurNJhouse.com or www.OurBergenCountyHouse.com

NAR Report Pending Homes Sales are Up!!!!!

Pending Home Sales Up for Third Consecutive Month

Record low mortgage interest rates boosted the NATIONAL ASSOCIATION OF REALTORS^®‘ (NAR) forward-looking pending home sales index 6.7 percent in April to 90.3 from a reading of 84.6 in March.  The April 2009 reading is 3.2 percent above April 2008.  “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market, too,” says NAR Chief Economist Lawrence Yun. The index in the Northeast shot up 32.6 percent from March to 78.9 in April.For more information, read NAR’s press release or watch a video interview of Lawrence Yun on the latest index figures.

Tax credit loans for closing costs (but why bother)
Short-term loans to enable buyers to use their homebuyer tax credit benefits upfront, but the loans can’t cover the 3.5 percent minimum downpayment. Read more.  But why bother? It is one more complication and using a seller concession will acomplish the same thing. And once the tax credit comes in, it does not need to be used to repay a loan. Remember, you must CLOSE by December 1 to be eligible for the tax credit. For details go here.

Construction and rehab loans readily available.
We have construction and rehab loans for residential (up to 4-unit properties) - investment and owner occupied. The lending value is based on the purchase price plus cost to complete, plus equity upon completion (in some cases). Presenting a rehab plan is a great way to enhance a rehab/teardown listing - and for buyers to create a dreamhome and significant equity. The timing is right. Call to discuss.

Is a commercial real estate bust inevitable?
Bailout watchdogs have something new to growl about: the lack of financing in the commercial real estate markets. Read more.