Housing Market Forecast

Celebrating Excellence: NCJAR's 2024 Circle of Excellence Sales Award® Celebration Recap

A huge thank you to everyone who joined us for the 2024 NJR® Circle of Excellence Sales Award® Celebration at The Venetian in Garfield, NJ! 

It was an incredible evening of celebration and networking as we honored the outstanding achievements of our award recipients. With an open bar, delicious food, music, and unforgettable photo moments, we came together to recognize the hard work and dedication of our top professionals in real estate. 

We appreciate your presence and look forward to many more moments of success and celebration with our NCJAR community! Thank you for making this night truly special! 

Please visit NCJAR's Facebook @NCJARNJ to view all the photos from the event. 

New Consumer Guide: Homeowners Associations

If you’re in the market for a new home, you may come across properties governed by a homeowners association (HOA) or other community association. While HOAs offer benefits like shared amenities and neighborhood upkeep, they also come with rules and fees that can impact your homeownership experience.

Before you buy, it’s important to understand what HOAs are, how they work, and what they mean for you as a homeowner.

What Is an HOA?

A homeowners association (HOA) is an organization that manages and enforces rules for a residential community. HOAs are common in:

Single-family home communities – especially master-planned neighborhoods and gated developments.
Townhouse and condo communities – where shared spaces require coordinated maintenance.

HOAs typically maintain common areas like parks, pools, and clubhouses. They also set guidelines to help keep the neighborhood uniform and well-maintained.

HOA Fees and Special Assessments

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Important Alert: Increase in Reported Fraudulent and Scam Listings

We want to make you aware of a recent surge in fraudulent listings targeting vacant land and vacant properties. Reports from NCJAR Members and GSMLS show an alarming increase in scams designed to deceive real estate professionals and buyers alike. These scams can cause significant financial and reputational damage — but you can take action to protect yourself.

Stay Vigilant: Verify Every Seller

Scammers often impersonate legitimate property owners, especially for vacant properties. To safeguard yourself, follow these recommended best practices from the Secret Service, FBI, and NAR:

Key Steps to Protect Against Fraud:

1. Independently verify the seller’s identity.Conduct a thorough search to confirm who the seller is, including finding a recent photo and checking public records.
2. Meet the seller in person.Always request an in-person meeting and ask for multiple forms of identification.
3. Ask for proof of ownership.Require documentation that clearly shows the seller's legal ownership of the property.
4. Test their local knowledge.Ask questions about the property and surrounding area. A real owner will typically know key details.

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DID YOU KNOW?

RPAC is working to stop a minimum $10,000 tax increase on families buying homes sold for over $1 million and a minimum $40,000 tax increase on homes sold over $2 million as proposed by the Governor.

INVEST HERE to Protect our Industry

Learn about how RPAC Works for You!

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