lead based

Beginning July 22, 2022, lead paint inspection and remediation are required for residential one- and two-family rental properties upon tenant turnover or by July 24, 2024, if there is no tenant turnover.

There are two types of lead-based paint inspections: visual inspections and dust wipe sampling inspections. The type of inspection required varies from municipality to municipality and is determined by the blood level of children six years of age or younger.

Click here for the required inspection tests by municipalities.

Revised Contract of Sale and Residential LeaseBeginning July 22, 2022, lead paint inspection and remediation are required for residential one- and two-family rental properties upon tenant turnover or by July 24, 2024, if there is no tenant turnover. This new law is not currently tied to time-of-sale requirements. Multiple dwelling units have long been regulated for lead.

New Jersey Realtors®️ updated the Real Estate Sales Contract to provide notice to buyers purchasing the property with tenancies or with intentions to use the property as a rental. The revision is in section 12, lines 213-214, and section 13, new (D) rental dwelling inspections.

New Jersey Realtors® also updated the Residential Lease, section 35, and added new (B) New Jersey lead-based paint inspection law acknowledgment.

VISIT NJ FORMS LIBRARY

JUNE 2022 MARKET STATSRising inflation, soaring home prices, and increased mortgage interest rates have combined to cause a slowdown in the U.S. housing market. To help quell inflation, which reached 8.6% as of last measure in May, the Federal Reserve raised interest rates by three quarters of a percentage point in June, the largest interest rate hike since 1994. Higher prices, coupled with 30-year fixed mortgage rates approaching 6%, have exacerbated affordability challenges and rapidly cooled demand, with home sales and mortgage applications falling sharply from a year ago.

eJowLCANthstMHKk

Please join Asian Real Estate Association of America (AREAA) for monthly lunch networking event and first time MEAT UP at korean BBQ.  Unlimited meats and non-alcoholic drinks included.  Be photo ready and probably bring a change of shirt for after lunch.

Discounted price for AREAA members, please use your AREAA login to purchase ticket.

Venue is inside the H Mart Little Ferry Complex.

Tuesday, July 26, 2022 at 12:00pm

Location: Cast Iron Pot Signature Little Ferry, NJ 07643

Admission Fee: $30

REGISTER ONLINE

valeriefund

(NCJAR) North Central Jersey Association of Realtors is proud to sponsor the Valerie Fund for 2022! Realtors are community builders and believe in supporting our local organizations and communities, especially our local children fighting cancer, blood disorders and other disease.

Thank you to the Valerie Fund for all their amazing work for our local families fighting for their children's lives.

September 17, 2022 in Verona Park

REGISTER/DONATE ONLINE

FAQs

First-Time Buyer.New Start in New JerseySee what happens as first-time buyers brave the most competitive housing market ever in season 2 of “First-Time Buyer,” streaming now on Hulu and FirstTimeBuyer.realtor.

See how relying on a REALTOR®'s expertise helps consumers prepare for the unexpected and make sure this milestone decision is made with confidence.

Don’t Miss Season 2 – Episode 3

New Start in New Jersey (Union County, NJ)

realestateforecast

This Wednesday, July 27, from 12:00pm - 1:00 p.m. Eastern, NAR will hold its virtual Real Estate Forecast Summit, Residential Update. As part of this event, NAR experts will discuss the residential market, including international activity and its impact on demand and sales based on data included in the recent NAR report, “2022 Profile of International Transactions in Residential Real Estate.”

REGISTER ONLINE

morrishabitat

The NCJAR® Young Professionals Network participated in a team build day on June 16th in Old Bridge in cooperation with the Morris County Habitat for Humanity.  Through volunteer labor and donations of money and materials from the support of local business and individual donors, Morris Habitat builds and rehabilitates houses for families in need.  NCJAR will also be hosting a Casino Night fundraiser this October to benefit Morris Habitat at the Hanover Manor

A very special thank you to our Young Professionals for donating their time and energy towards these local projects.

Click to view photos

home sales

During the past 14 days, properties have remained on the market for a record-low 14 days

  • Despite a seasonally adjusted annual growth of 5.12 million, existing-home sales dropped for the fifth consecutive month. A year ago, sales were down 14.2% from one year ago and down 5.4% from May.
  • A new record high of $416,000 was achieved for the median existing-home sale price, which rose 13.4% from a year ago.
  • By the end of June, the number of unsold existing homes had risen to 1.26 million, equivalent to 3.0 months at today's monthly sales pace.

Read more at NAR.REALTOR

ONLY 8.951ALL BOOTIE BASKETS ARE NOW $8.95 UNTIL JULY 31ST. Get Yours Today!

Please visit https://shop.ncjar.com/ to SHOP NOW.

Shop Online & Pick-Up in Store

Monday-Friday (10am-4pm)

Locations:
-910 Mt. Kemble Avenue, Morristown, NJ 07866
-375 Broad Street, Bloomfield, NJ 07003
-767 Central Avenue, Westfield, NJ 07090
-204 Berdan Avenue, Wayne, NJ 07470

Telephone:
973-425-0110

Email:
This email address is being protected from spambots. You need JavaScript enabled to view it.