“Sandy the aurora is risin' behind us”*…and this Weeks Closed Sales

It hardly seems like a year ago that the nightmare of Sandy came ashore and changed our lives forever.  Yet it is behind for many of us and is beginning at least slowly to become a memory.

The members of the Real Estate community personally and professionally suffered as a result of this storm and so we are bonded to those homeowners who were devastated in a new way.  As Realtors we want to continue help and make ourselves available as a source of information for property owners who are still seeking solutions.

 The NJ Department of Community Affairs has launched “Renew Jersey Stronger”. It is a series of programs aimed to give financial assistance to residents whose homes were damaged by Sandy.

 Here is a brief description of several programs, you can visit http://www.renewjerseystronger.org/ for full requirements and to apply.

Hazard Mitigation Grant Program (HMGP)- Elevation program which reimburses homeowners who are raising primary, single-family residences to meet the new requirements of Flood Insurance maps. Grants of up to $30,000. to elevate an existing home, no income requirements.

HomeBuyer Assistance Program- A forgivable $50,000. Interest-free loan, this program offers a state-funded second mortgage of up to $50,000. No monthly payment, and is forgivable after five years in the home. Buyers must obtain a primary mortgage first for the rest of the purchase. There are income and, credit score requirements and it must be an owner occupied primary residence.

Landlord Rental Repair Program- Will offer financial assistance to restore rental properties damaged in the storm, up to $50,000. The landlord must rent the repaired units to low or moderate income families at approved affordable rents to qualify for funding.

Landlord Incentive program- Will provide property owners who offer affordable rentals the difference between 30% of a tenant’s monthly income and the federal fair market rents each month for a two-year period.

Excerpts from NJ Realtor magazine, October 2013, *4th of July, Asbury Park, Springsteen

Pat Linde-Neidermeyer, Veltri Realtors
Email: PatatVeltri@Gmail.com
Call: 732-598-8348
www.VeltriRealtors.com

 Now Here are this Week’s Closed Sales for your area.

BRADLEY BEACH

306 Central Ave,  $585,000

LAKE COMO

1810 Briarwood Ter,  $407,000; 831 Parkway,  $485,000

SPRING LAKE

553 Prospect Ave,  $313,313; 414 Atlantic Ave,  $862,500

WALL

1100 Glenn St,  $295,000; 2812 Woolley Rd,  $425,000

1350 Winter View Rd,  $690,000; 3245 Premier Pl,  $833,500

 All closed sale prices listed are as submitted and recorded by the Monmouth Multiple Listing Service.  Not responsible for typographical errors.