Short Hills House For Sale

Letter: Plenty can be done to save houses of historic value

Plenty can be done to save houses of historical value

Editor, The Item:

I am an Old House Person. My husband and I spent over a year house-hunting and purposefully looking for a historic house within the Wyoming Historical District to raise our kids. I was glad to see the article from the Historical Society in the June 23 edition of The Item. I encourage the Township Committee to act on the list of homes in the Master Plan that currently do not have protection. It should be noted that all non-designated homes in the two protected Historic Districts are not immune to the teardown.

Inevitably the question is raised "Why can't the town do something?" Well, we are the town - and there are already mechanisms in place to encourage preservation and restoration. In our experience, the Historic Preservation regulations are well-balanced, allowing update of the interior of the designated homes while preserving the feel of the exterior, grounds and other special aspects of the districts as viewed from the street. A historic preservation permit is not needed for repairs in kind. There is no restriction on what color you can paint your home. The regulations are a standard of care.

All property owners have a great influence as to what happens to their own property - how they renovate it, to whom they sell it, even petitioning for designation.

Under Section 808 of the Historic Preservation Regulations, the Historic Commission can advise any "interested homeowners of their ability to voluntarily impose historic preservation restrictions on their property." Hire builders and architects who share in those values.

Sellers should make their wishes known about how and to whom the property should be sold. Hire a realtor who shares in those values. Make it part of your estate planning if possible. There are plenty of savvy realtors out there that can pitch a house for sale instead of for the teardown.

Section 804 (D) of the Historic Preservation Regulations states that "...The [Historic] Commission or any individual or group of individuals may recommend to the Township Committee for designation district and sites ..." that meet certain criteria. That means we don't have to wait for the "town" to recommend designation of a district or a site. Individuals or groups can recommend as well. To be sure, there's homework to do to see if your property meets the appropriate criteria. Find out the past owners of the property, check out the information in the local museum and library, and understand the architectural style. If you have a non-designated house or one of the remaining houses identified in the Master Plan that you don't want to see bulldozed, some work has already been done for you. You can find the original Survey in the Millburn Short Hills Historic Museum or the library. There are plenty of resources out there.

Positives and Negatives Of Buying A Short Sale « Real Estate Blog

There are many pros and cons when considering a short sale. A short sale happens when the bank or lender agrees to take an offer that is less than what is owed on the property. This enables the lender to avoid a costly foreclosure process. When a lender agrees to accept less than a person owes on the property they have agreed to cut their losses and avoid a costly foreclosure proceeding.

 With the housing market the way it is there are hundreds, if not thousands of for sale signs in neighborhoods across the country.

New Jersey real estate is no different.

 Although there are quite a few opinions when it comes to short sales, most would agree that a short sale can be a great way to get into a home that is below market price. REO, or real estate owned properties, are also good, but these usually result in a bidding war. Another advantage to purchasing a short sale is getting the property for a considerable discount, as the lender is anxious to get the money back that was loaned out. This may also work to the buyer’s advantage as the lender may offer beneficial financing terms. Another positive in purchasing a short sale is that the seller is involved in the procedure and the buyer will have the seller’s assistance. This means that the buyer will not be responsible for evicting the seller. Often when a property has gone through foreclosure, the new owner must take possession and, in the worst-case scenario, evict the previous owners.

The long wait that often happens with a short sale is one of the biggest negatives in this type of sale. Short does not refer to the amount of time it takes to get a deal closed. It can take months for a lender to approve the short sale and the price that is offered in print is almost never the price that is finally negotiated on. Another disadvantage is the amount of buyers that have put in bids on the property. Once again, it all comes down to a bidding war. 

 One of the first places to begin a home search is online. There are many listings of Homes for Sale. Look for keywords such as Selling Home Online or Home for Sale Online. This could help the buyer get a jump on the competition and not have to wait months for a short sale.

 There are many homes for sale in New Jersey. Short sales, foreclosures and homes that are for sale by owner are just some of the options a potential buyer has when consulting with Short Hills New Jersey Real Estate Broker. Listings for Homes as well as appointed condos and townhomes in NJ are just waiting for new owners.

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