We specialize in these types of properties in Spring Ridge, Society Hill, The Cedars, The Hills and smaller complexes in Bernards Twp., and surrounding communities.

From 1-bedroom units and up, there is a wide variety of choice in style, size and price range to fit your housing needs.

Click for additional information

The average rate for a 30-year fixed loan dropped to 4.12 percent in the week ended today from 4.22 percent, Freddie Mac said in a statement today. That’s the lowest in the McLean, Virginia-based company’s records dating back to 1971. The average 15-year rate fell to 3.33 percent from 3.39 percent.

Read full article

Hackettstown, NJ – Mansfield Village, the quaint apartment community in the Warren County town of Hackettstown, announces deep discounts on its one bedroom apartments for new residents. Residences with central air conditioning and dishwashers are now being offered at a $140 per month discount for an entire year. Rent is normally a very affordable $760 per month for a one bedroom apartment with hardwood floors and $770 per month with carpet. With … Read More

via NJ Buy Local! Supporting & Promoting Local Businesses Throughout the Garden State!

Not too worry, here are 5 valuable tips to help you obtain the correct and rightly earned deductions from your home investment.

Ask a roomful of homeowners what’s so great about owning versus renting, and you’ll hear them holler in unison: “the tax deductions!” And it’s true – homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns.

That means that if you’re in a 28% tax bracket, Uncle Sam effectively subsidizes about a third of your borrowing costs or more, making your home more affordable or allowing you to buy a larger home than you could have otherwise. Also, big chunks of your closing costs are tax deductible, and hundreds of thousands of dollars of any profit (or capital gains) that you realize when you sell your home are exempt from income taxes.

1. You Have to Itemize Your Return to Claim Your Deductions

During the recent debate on Capitol Hill about whether the mortgage interest deduction should be eliminated (it won’t be, not anytime soon), it came out that nearly 40% of homeowners lose out on their major tax advantages every year when they fail to itemize their income taxes. If you own a home and otherwise have a fairly simple return, it might be tempting just to take the standard deduction – and if your mortgage, property taxes and income are low enough, the standard deduction might outweigh your homeowners’ deductions. But you’ll never know if you’re losing out on the tax advantages of itemizing unless you try; before you grab a pen and start filling in that 1040-EZ grab those forms from your mortgage company and answer the questions on tax software like TurboTax, which will automatically do the math on whether itemizing or taking the standard deduction will result in the lowest tax bill – or the highest tax refund – for you.

2. Plan Ahead and Be Strategic When Taking a Home Office Deduction

According to the Small Business Administration, the average home office deduction is $3,686 – multiply that by your tax bracket – 15%, 20%, 30% or whatever it is, and that’s what you’ll save on your taxes by writing off your home office. Know, though, that the space you designate as your home office cannot be exempted from capital gains tax when you sell your home later. The $250,000 (single)/ $500,000 (married filing jointly) income tax exemption for capital gains is only good on your personal residence, after all – not including any space in your home you’ve claimed as your tax-advantaged office. If you foresee selling your home for much more than you bought it in the future, near or far, discuss this with your tax preparer to see if the few hundred bucks you save is worth the capital gains complication later.

3. Tax Relief for Loan Modifications, Short Sales and Foreclosures Is Only Around Through 2012

While the long-term housing outlook is beginning to look up, 2011 is projected to be the peak year for foreclosures during this market cycle. Distressed homeowners who are on the brink of a short sale, loan modification or foreclosure should be aware that normally, any mortgage balance that is wiped out by one of these outcomes is taxed as what the IRS calls Cancellation of Debt Income, or CODI.

Under the Mortgage Debt Forgiveness Relief Act of 2007, the IRS is currently not charging income taxes on CODI incurred through a loan mod, short sale or foreclosure on most primary residences through 2012. But right now, banks are taking many months, or even years, to work out mortgages in all of these ways; the average foreclosure in New York state right now occurs only after 22 months of missed mortgage payments. If you foresee any of these outcomes in your future, don’t put things off. Do what you can to get to closure on your distressed home and loan, ASAP, while you won’t have income taxes to add as the insult on top of your significant housing injury.

4. Project the Income Tax Consequences of a Refinance or Property Tax Appeal

Homeowners everywhere are working on applying for a lower property tax bill on the basis of the last few years’ decline in their home’s value. Those who have equity have flocked en masse to refinance their 7% home loans into the 4% to 5% rates of the last few months. These strategies offer some of the heftiest household savings out there for the corresponding investment in time and money they take. But here’s a caveat for savvy homeowners who slash these costs: remember that property taxes and mortgage interest, the very costs you’re minimizing, are also the basis for the major tax benefits of being a homeowner. So plan ahead for your income tax deductions to go down along with your taxes and interest.

5. Don’t Forget Those Closing Costs

If you bought or refinanced your home in 2010, you may be so focused on your mortgage interest and property tax deductions that you forget all about your closing costs. Any origination fees or discount points that were paid to your mortgage lender at closing are tax deductible on your 2010 return, get this – even if the seller paid your closing costs. If you can’t figure out exactly what you paid, look for your HUD-1 settlement statement, that legal sized paper full of line item credits and debits that you should have received from your escrow provider or title attorney at, or just after, closing. Can’t find it? Drop your real estate agent or mortgage broker an email; they can usually get a copy to you quickly.

If you are interested, please email Karla: ridgenj @ live.com
by Wednesday April 6th to confirm if you are attending.
Hope to see you there!

Spring Ridge Management Office Phone: 908-647-6070

The newly formed Green Group will be focusing
on increasing awareness and educating residents
about quality of life issues.

Spring Ridge Green Group

The groups mission statement is defined as:
“Residents striving to improve sustainability
and well-being in our community”

Topics include, recycling, pesticides, energy issues and encouraging
walking and biking. The group is open to all residents and is free.

Meetings will be held on the second Tuesday of the month,
from 6:30pm to 8pm in the Spring Ridge Clubhouse.
If you have any questions or inquiries, email:
mfranck282 @ optonline.net or call Judy at 973-479-8420

Spring Ridge Real Estate Solutions – George Gervasi
I specialize in home sales within the Spring Ridge community as well as
Society Hill and the Cedars in Basking Ridge NJ.

• Time: 6:00pm–7:30pm
• Features: Family activities, open to all, outdoors
• Phone: 908-766-5955
• Price: $10 per person includes hayride and refreshments

Spring Ridge Real Estate Solutions – George Gervasi
I specialize in home sales within the Spring Ridge community as well as
Society Hill and the Cedars in Basking Ridge NJ.

Features

• Total Baths: 3
• Bedroom 1: 15×13
• Bedroom 2: 15×12
• Bedroom 3: 15×12
• Bedroom 4: 15×9
• Heating: Gas-Natural,1 Unit, Baseboard – Hotwater, Multi-Zone
• Lot Description: .25AC
• Sub-Type: SinglFam
• Roof: Asphalt Shingle
• Dining Room: 15×12
• Family Room: 23×16
• Kitchen: 15×12
• Living Room: 24×15

• Master Bedroom: Full Bath
• Bonus Room: Office
• Services: Cable TV Available
• Sewer: Public Available
• Siding: Brick, Vinyl Siding
• Tax Amount: $6,765
• Utilities: Electric, Gas-Natural
• Water: Public Water
• Fireplace: 1
• Garage: 2-Car, Attached Garage
• Basement: Finished, Walkout, Yes
• Rooms: 12
• Style: Expanded Ranch,

Holly Pring and Charles Hendershot are top agents in Bernardsville, NJ.  They specialize in the purchase of homes in Bernardsville, Basking Ridge, Bedminster, Bridgewater, Far Hills, Chester, Mendham and Peapack-Gladstone.  Visit their website for real estate listings for sale in Bernardsville, New Jersey.

This week, Frugal Family scoured local sources to come up with great deals that include tires along with other essentials — and a few fun items to use yours savings to enjoy!

Remember to check with the merchant for additional conditions:

Somerset Hills Tire and Auto, Basking Ridge
Deal: $80 off when you purchase four select Goodyear or Dunlop tires.
Good through: April 2. Good through mail-in rebate.

Goodyear, Wharton
Deal: $25 off $50 Purchase with this coupon.
Good through: April 3

Stride Rite, Bridgewater
Deal: Buy one pair of shoes, get the second 50 percent off.
Good through: April 3

Tae Kwon Boys and Girls, Warren
Deal: One week free classes with free uniform for new enrollments
Good through: April

Fliss Chiropractic, Basking Ridge
Deal: Free 15-minute spinal massage for mothers.
Good through: End of March. Call 908-234-9400.

A&P, Basking Ridge, Warren
Deal: 93 percent lean ground beef on sale, buy one get one free (limit one). Kellogg’s cereal 50 percent off. Pepsi 2-liters are four for $4. Now until April 24, every time you spend $300 you earn a coupon for 5 percent off a future purchase. Earn up to 20 percent off.
Good through: March 24

Stop & Shop, Basking Ridge, Butler, Madison
Deal: Fresh Strawberries or Blackberries for $2. Lay’s Potato Chips for $1.99. Pasta Roni or Rice-A-Roni for $1 (use free Pasta Roni when you buy three Rice-A-Roni items, found in the Jan. 2 Red Plum insert).
Good through: March 24

Shoprite, Bernardsville, Chatham
Deal: Free holiday ham or turkey began on March 13: when you spend $300
between March 13 and April 23, you will qualify for a free holiday item of your choice. Proctor & Gamble living room: buy $25 worth of products, get $5 off your next shopping order. Proctor & Gamble laundry: buy $25 worth of products, get $5 off your next shopping order. Proctor & Gamble kitchen: buy $25 worth of products, get $5 off your next shopping order. Proctor & Gamble beauty: buy $15 worth of products, get $5 off your next shopping order. Buy five Heinz products, get $5 off your next shopping order. Buy $20 of Unilever products, get $10 off your next shopping order. Kraft BBQ sauce for $0.99 (use $0.75 off one found in the Smart Source March 6.
Good through: March 26

Your favorite grocery store
Deal: Buy one Red Baron By-the-Slice pizza up to $3.99 and get a rebate. Print the form here. Purchase between March 11 and April 10. Send in form, UPC and original cash tape.
Good through: April 10

Planet Hollywood, New York City, Atlantic City
Deal: $10 off $20 purchase with this coupon.
Good through: December 31