Want your landlord to see the energy-efficient light?The BiteRelationships with crotchety landlords and ladies can be anything but heavenly. Give 'em a few eco-tips that speak to their bottom line (hallelujah!), and you'll be one step closer to domestic harmony. The BenefitsA greener home-sweet-home. Improvements like more efficient appliances and eco-flooring benefit both you and your landlord.Better for the earth. Energy Star washers use 50% less energy than conventional ones, and eco-paint won't emit nasty stuff into the air.A 'lord that smiles down upon ya. Higher property values and lower bills (35%+ savings with energy efficiency) will win you points.Personally SpeakingJen's friends with her old landlord in DC, and he recently sent her an email saying that after a year of making her suggested small changes, the savings are now racking up. He made no mention of any rent rebates though... damn it.Wanna Try?Surefire tips for getting on their good side:AC - new air-conditioning and even shade trees can lower energy bills.CFLs - replacing regular incandescent light bulbs with CFLs in common areas can reduce lighting bills and require fewer changes.Efficient Windows - windows account for 25%-50% of a home's heating/cooling losses.Energy Star Appliances - more efficient appliances save big on energy and water.Low-Flow Johns - newer toilets like those with a dual-flush system (with a low-flow flush for number 1 and a regular-sized flush for number 2) save as much as 6 gallons per flush.Cabinets, Countertops, Flooring and Paint - eco-versions help increase LEED green building credits and raise property values. More Energy-Saving Tips - post on a public bulletin board in your complex.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
Monday, April 28, 2008
Want your landlord to see the energy-efficient light?
Want your landlord to see the energy-efficient light?The BiteRelationships with crotchety landlords and ladies can be anything but heavenly. Give 'em a few eco-tips that speak to their bottom line (hallelujah!), and you'll be one step closer to domestic harmony. The BenefitsA greener home-sweet-home. Improvements like more efficient appliances and eco-flooring benefit both you and your landlord.Better for the earth. Energy Star washers use 50% less energy than conventional ones, and eco-paint won't emit nasty stuff into the air.A 'lord that smiles down upon ya. Higher property values and lower bills (35%+ savings with energy efficiency) will win you points.Personally SpeakingJen's friends with her old landlord in DC, and he recently sent her an email saying that after a year of making her suggested small changes, the savings are now racking up. He made no mention of any rent rebates though... damn it.Wanna Try?Surefire tips for getting on their good side:AC - new air-conditioning and even shade trees can lower energy bills.CFLs - replacing regular incandescent light bulbs with CFLs in common areas can reduce lighting bills and require fewer changes.Efficient Windows - windows account for 25%-50% of a home's heating/cooling losses.Energy Star Appliances - more efficient appliances save big on energy and water.Low-Flow Johns - newer toilets like those with a dual-flush system (with a low-flow flush for number 1 and a regular-sized flush for number 2) save as much as 6 gallons per flush.Cabinets, Countertops, Flooring and Paint - eco-versions help increase LEED green building credits and raise property values. More Energy-Saving Tips - post on a public bulletin board in your complex.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
Thursday, April 17, 2008
Subletting your Apartment
Subletting your Apartment (Rate this article)You’ve finally landed the job of your dreams. It allows you to do the work you’ve always dreamed of doing for a great salary and amazing benefits. The perfect opportunity, right? It would be, if it weren’t 200 miles away. You don’t mind moving but have a lease for the next six months. Don’t give up that ideal opportunity until you read over our advice on how to sublet. Subletting means essentially sharing a lease with someone else until it expires. It has its risks but if done properly, it will be possible to move early without breaking a lease. Here are the steps you need to follow to make your sublet experience a success.
Get Your Landlord’s Permission
Read your lease to determine your subletting rights. If your landlord profusely forbids it, try to explain your situation in writing and negotiate a solution. You can offer to help your landlord find a new tenant, although you are still responsible for the rent until a new lease is signed. If subletting is permitted, get your landlord’s permission in writing before moving on to the next step. Find a Trust-worthy Leaser
Ask around your circle of friends and co-workers first. If you don’t get a response, post a flyer in a coffee shop you frequent, community center or place an ad in the classifieds. Describe your apartment and the dates that it will be available along with your contact information. You can try to advertise for the same rent you are paying but may have to reduce the rate since you are limited in time. Interview interested people just as if you were hiring them to work for you. You will still be responsible for the lease so you need to make sure the person who moves in will pay rent on time and keep the apartment well-maintained. Here are some questions to ask a potential sublessor: Where are you employed and what is your monthly after-tax income? Why are you seeking short-term housing? How many people will be living the apartment? Any children? Any pets? Do you plan on having any social events or guests staying at the apartment? Do you consider yourself a clean person? (The person’s appearance is one clue to the answer although it is not a guarantee that their appearance reflects their housekeeping habits). Give the best potential sublet candidates a tour of the apartment. Answer their questions as honestly as possible and be candid about any problems. You don’t want the sublessor to back out in a month or two since you will be left to fill in the rent. Sign a Written Agreement
Even if you were lucky enough to have a friend to take over your lease, you still need to have a written agreement. You can make one yourself but unless you’re a lawyer, this is not advisable. The Internet Legal Research Group has a sublet form for every state. Go to http://www.ilrg.com/forms/sublease/us/ and print out the form for your state. A professionally formatted version of the form is available for a fee. If not mentioned in the agreement, you need to add in a statement regarding the security deposit. Since your landlord is most likely not required to return it to you until the lease is over, you will need to come to an agreement over it. For example, if the sublessor puts a hole in the wall is he/she responsible for the security deposit? If you don’t address it the money will surely come out of your pocket. Depending on the terms in your lease and state laws, you may have tenant’s rights over the sublessor. This means you can evict the person if they do not pay rent or in any other way violate the terms of the written agreement. Explain this to the sublessor so that there is no confusion later. Make sure the sublessor is clear on when he/she can move in and leave them a way to contact you as well as the owner of the apartment. Leave an emergency maintenance number as well as the place where the rent should be delivered.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
Get Your Landlord’s Permission
Read your lease to determine your subletting rights. If your landlord profusely forbids it, try to explain your situation in writing and negotiate a solution. You can offer to help your landlord find a new tenant, although you are still responsible for the rent until a new lease is signed. If subletting is permitted, get your landlord’s permission in writing before moving on to the next step. Find a Trust-worthy Leaser
Ask around your circle of friends and co-workers first. If you don’t get a response, post a flyer in a coffee shop you frequent, community center or place an ad in the classifieds. Describe your apartment and the dates that it will be available along with your contact information. You can try to advertise for the same rent you are paying but may have to reduce the rate since you are limited in time. Interview interested people just as if you were hiring them to work for you. You will still be responsible for the lease so you need to make sure the person who moves in will pay rent on time and keep the apartment well-maintained. Here are some questions to ask a potential sublessor: Where are you employed and what is your monthly after-tax income? Why are you seeking short-term housing? How many people will be living the apartment? Any children? Any pets? Do you plan on having any social events or guests staying at the apartment? Do you consider yourself a clean person? (The person’s appearance is one clue to the answer although it is not a guarantee that their appearance reflects their housekeeping habits). Give the best potential sublet candidates a tour of the apartment. Answer their questions as honestly as possible and be candid about any problems. You don’t want the sublessor to back out in a month or two since you will be left to fill in the rent. Sign a Written Agreement
Even if you were lucky enough to have a friend to take over your lease, you still need to have a written agreement. You can make one yourself but unless you’re a lawyer, this is not advisable. The Internet Legal Research Group has a sublet form for every state. Go to http://www.ilrg.com/forms/sublease/us/ and print out the form for your state. A professionally formatted version of the form is available for a fee. If not mentioned in the agreement, you need to add in a statement regarding the security deposit. Since your landlord is most likely not required to return it to you until the lease is over, you will need to come to an agreement over it. For example, if the sublessor puts a hole in the wall is he/she responsible for the security deposit? If you don’t address it the money will surely come out of your pocket. Depending on the terms in your lease and state laws, you may have tenant’s rights over the sublessor. This means you can evict the person if they do not pay rent or in any other way violate the terms of the written agreement. Explain this to the sublessor so that there is no confusion later. Make sure the sublessor is clear on when he/she can move in and leave them a way to contact you as well as the owner of the apartment. Leave an emergency maintenance number as well as the place where the rent should be delivered.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
Monday, April 14, 2008
When the Landlord Forecloses on Your Apartment
When the Landlord Forecloses on Your Apartment
As a renter, you may or may not have been paying attention to the fallout of the subprime mess. Well, maybe you should. Even buildings with renters have been foreclosured as landlords defaulted on mortgage payments, so reports the New York Times (which owns About.com).What should you do if this happens to you? Check out this primer from Nolo.com on the legal ramifications of foreclosures for renters.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
As a renter, you may or may not have been paying attention to the fallout of the subprime mess. Well, maybe you should. Even buildings with renters have been foreclosured as landlords defaulted on mortgage payments, so reports the New York Times (which owns About.com).What should you do if this happens to you? Check out this primer from Nolo.com on the legal ramifications of foreclosures for renters.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
Thursday, April 10, 2008
New Jersey apartment market still very active
New Jersey apartment market still very active - The Boroughs/Suburban MarketsReal Estate Weekly, June 9, 1999 E-mail Print Link Marcus & Millichap Real Estate Investment Brokerage Company recently released its Apartment Research Report for the Northern/Central New Jersey market, which continues to be active, according to David E. Thurston, regional manager. The following are the most significant aspects of the report:
January's unemployment rate for the area was 4.4 percent, marking the 15th consecutive month at less than 5 percent.
After a long decline during the 1980's, Jersey City is booming. Despite a drop in manufacturing jobs, the city's employment level grew by more than 4 percent between 1993 and 1997. The finance and insurance sectors continue to gain jobs as companies move to the area. These changes have strengthened demand and forced vacancies in all product types into the single digits. As availability tightens, developers have begun to break ground on numerous projects all over the city.
Related Results NJ apartment market... Tarragon Corporation... Kislak Company, Inc.... Apartment buy makes cents Decision Resources,... Most Popular Articles in Business Research and Markets ...Do Us a Flavor - Ben ...eBay made easy: ready ...Katrina's lawsuit ...Wal-Mart's newest ...More » More than 100 companies have moved to the state in recent years, a trend that is expected to continue.
The Lefrak Organization recently completed its second of four residential complexes that comprise the Towers of America. The 445-unit complex became fully occupied in less than six months. Other residential projects include Avalon Cove II, a 220-unit tower, and the Marbella and Portofino, with a combined total of 561 units. New office and hotel projects include the American Financial Exchange, 90 Hudson Street and Courtyard by Marriott, with many others in the pipeline.
Approximately 5,400 multi-family units were permitted in 1998, the highest number in eight years.
Permits for new multi-family buildings of five or more units in the five-county region have been averaging 2,907 per year since 1993. Hudson and Bergen counties have been most active, averaging 274 units permitted per year during the same period. During the past year, 4,013 new units have been authorized in the region, an 80 percent increase from 1995's 2,229 units. In Hudson County, along the waterfront, 1,234 permits have been issued, while 780 units have been approved in Bergen County. Union County registered a small increase, while both Essex and Passaic counties have slowed considerably, by 85 percent and 82 percent, respectively.
Vacancies tightened further in 1998, with virtually no availability of upscale apartments along the Gold Coast.
Although construction activity continues, overall vacancies should decline slightly. Increased demand from New York City professionals seeking more affordable housing should offset the increased supply of new luxury units. The Gold Coast offers lower rents and residents can reach Manhattan in minutes via ferries and PATH trains.
Rental rates will increase modestly in 1999 as demand persists and new supply remains in check.
Strong employment has been a major factor in forcing rents upward. As with vacancies, however, rental rates vary across submarkets. Along the Gold Coast, where demand is strongest, rental rates continue to lead the market. Monthly rents for one-bedroom apartments range between $1,050 and $1,300. Two-bedroom apartments command between $1,550 and $1,850 per month, while rents for three-bedroom apartments can reach as high as $3,600. Rates for Class A luxury apartments are approximately 2 to 3 percent higher.
The number of apartment sales transactions dropped slightly in 1998, with Hudson and Essex counties registering the most activity once again.
Apartment sales volume throughout the region declined 8.3 percent between 1997 and 1998. Union County recorded the only increase in sales velocity during the period, of 24 percent. During the past year, a total of 209 properties in excess of $250,000 changed hands, 82 of which were in Hudson County. In Essex County, 52 properties sold, while Bergen and Passaic counties registered 29 and 21 sales, respectively. Hudson and Essex counties recorded the most sales activity in 1998.
Marcus & Millichap Real Estate Investment Brokerage Company is the largest national commercial real estate firm that specializes in the brokerage of investment property. The company has 32 offices nationwide and in 1998 had sales of $5.1 billion.
COPYRIGHT 1999 Hagedorn PublicationCOPYRIGHT 2004 Gale Group
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
January's unemployment rate for the area was 4.4 percent, marking the 15th consecutive month at less than 5 percent.
After a long decline during the 1980's, Jersey City is booming. Despite a drop in manufacturing jobs, the city's employment level grew by more than 4 percent between 1993 and 1997. The finance and insurance sectors continue to gain jobs as companies move to the area. These changes have strengthened demand and forced vacancies in all product types into the single digits. As availability tightens, developers have begun to break ground on numerous projects all over the city.
Related Results NJ apartment market... Tarragon Corporation... Kislak Company, Inc.... Apartment buy makes cents Decision Resources,... Most Popular Articles in Business Research and Markets ...Do Us a Flavor - Ben ...eBay made easy: ready ...Katrina's lawsuit ...Wal-Mart's newest ...More » More than 100 companies have moved to the state in recent years, a trend that is expected to continue.
The Lefrak Organization recently completed its second of four residential complexes that comprise the Towers of America. The 445-unit complex became fully occupied in less than six months. Other residential projects include Avalon Cove II, a 220-unit tower, and the Marbella and Portofino, with a combined total of 561 units. New office and hotel projects include the American Financial Exchange, 90 Hudson Street and Courtyard by Marriott, with many others in the pipeline.
Approximately 5,400 multi-family units were permitted in 1998, the highest number in eight years.
Permits for new multi-family buildings of five or more units in the five-county region have been averaging 2,907 per year since 1993. Hudson and Bergen counties have been most active, averaging 274 units permitted per year during the same period. During the past year, 4,013 new units have been authorized in the region, an 80 percent increase from 1995's 2,229 units. In Hudson County, along the waterfront, 1,234 permits have been issued, while 780 units have been approved in Bergen County. Union County registered a small increase, while both Essex and Passaic counties have slowed considerably, by 85 percent and 82 percent, respectively.
Vacancies tightened further in 1998, with virtually no availability of upscale apartments along the Gold Coast.
Although construction activity continues, overall vacancies should decline slightly. Increased demand from New York City professionals seeking more affordable housing should offset the increased supply of new luxury units. The Gold Coast offers lower rents and residents can reach Manhattan in minutes via ferries and PATH trains.
Rental rates will increase modestly in 1999 as demand persists and new supply remains in check.
Strong employment has been a major factor in forcing rents upward. As with vacancies, however, rental rates vary across submarkets. Along the Gold Coast, where demand is strongest, rental rates continue to lead the market. Monthly rents for one-bedroom apartments range between $1,050 and $1,300. Two-bedroom apartments command between $1,550 and $1,850 per month, while rents for three-bedroom apartments can reach as high as $3,600. Rates for Class A luxury apartments are approximately 2 to 3 percent higher.
The number of apartment sales transactions dropped slightly in 1998, with Hudson and Essex counties registering the most activity once again.
Apartment sales volume throughout the region declined 8.3 percent between 1997 and 1998. Union County recorded the only increase in sales velocity during the period, of 24 percent. During the past year, a total of 209 properties in excess of $250,000 changed hands, 82 of which were in Hudson County. In Essex County, 52 properties sold, while Bergen and Passaic counties registered 29 and 21 sales, respectively. Hudson and Essex counties recorded the most sales activity in 1998.
Marcus & Millichap Real Estate Investment Brokerage Company is the largest national commercial real estate firm that specializes in the brokerage of investment property. The company has 32 offices nationwide and in 1998 had sales of $5.1 billion.
COPYRIGHT 1999 Hagedorn PublicationCOPYRIGHT 2004 Gale Group
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
Monday, April 7, 2008
Chandelier Style
By Columnist Kathy Peterson - KathyPeterson.com
Editors Note: Don't be afraid to decorate your space, but please be sure to check your rental guidelines before starting any project that requires changes to the landlords property.
Lighting can make or break a room and in most cases, we tend to place light fixtures on table tops, floors and sometimes the wall but let’s not forget about the ceiling too!
With today’s hot new looks for overhead lighting, there’s no excuse to brighten up your space with a new, vintage or modern chandelier.
I really like the look and feel of these charming black and white chandeliers. Even though they resemble traditional style chandeliers, the fresh new spin on design with the basic black and white colors really creates a sassy style that can set the stage for any room.
Okay—so you’re renting and your landlord isn’t willing to let you install an overhead lighting fixture yourself because of liability or because theirs no overhead electrical connector. Or maybe it’s because the landlord doesn’t want to go out-of-pocket to hire an electrician or handyman. I could go on and on! But whatever the case may be--- you can certainly work your way around this dilemma! And it’s easier than you might think!
Now this isn’t brain surgery or anything new but as a renter, we can sometimes forget to “look up” and think about creative applications to include overhead lighting that easy to do.
So what’s the solution? Ceiling hooks! They come in so many sizes and styles and are a great way to suspend a pre-wired chandelier that you can plug into any wall outlet. Simply drape the cord and chain from the ceiling to the wall then plug it in! Wall brackets that are longer in their reach can also be a helpful solution for hanging a small chandelier as well.
Don’t forget your balcony! It’s always nice to have a little extra low wattage lighting on a small balcony. Lighting up this space can extend the size of the connecting room from the inside to the outside so consider using plant hooks that are especially made for railings. Simply hang a small chandelier on the hook to shed a little more light. You’ll be surprised what a little chandelier can do in the most unlikely spaces! Enjoy!
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you
Wednesday, April 2, 2008
Making your Rooms Look Larger
How To Make Your Room Look Larger by: Olivia Filipetto
Small rooms can feel confining and uncomfortable. Luckily we can utilize certain design concepts that fool the eye and make our rooms seem larger. Try these inexpensive decorating tricks to make your rooms live bigger.
1. Use Light Colors
Light and brightly colored walls are more reflective, which will help to maximize the effect created by natural light. This does not mean you have to live with white walls. There are a wide range of light colors paints available, such as light green or cream beige.
Once you've chosen your wall color, choose your trim and moldings colors. Paint your trims and moldings in either the same hue as the walls, or a lighter color. Lighter objects appear closer while darker or shadowed objects appear further away. When you paint your moldings a lighter color, the wall appears further back - thus making your room appear bigger.
Now, don't be worried that your room is going to be bland and uninviting, bolder and darker colors can be be used in furniture, artwork and accessories.
If your colors are already dark, try to move the darker colors to a 'background' role while maximizing your neutral white or ivory. Be careful when using wallpaper. Solid colors are the safest, with tiny patterns taking a close second. Whatever the wall color or finish, we recommend the ceiling in a small room be painted stark white to maximize brightness.
2. Mirrors
Mirrors can have a favorable impact on a room's appearance. A large mirror in the room will reflect light around the room. The mirrors also reflect both natural and artificial light to make a room brighter during the day and night. They bounce light deep into the room, making it appear larger. This is especially effective with near a window so the outdoors can be reflected.
Use glass-front or mirrored cabinet doors to make spaces feel large and uncluttered. Large, expansive mirrors over vanities, mirrored wardrobe doors or a floor-to-ceiling wall of mirrors (combined with our decorating suggestions) can make even the smallest of spaces seem larger.
3. Arrange Furniture At Angles
Arrange some of your larger pieces of furniture at a angle. You don't have to place the furniture at an exact 45 degree angle, often a lesser angle looks best if you can balance the look with another furniture piece.
Setting your furniture at an angle works because the longest straight line in any given room is it's diagonal. When you place your furniture at an angle, it leads the eye along the longer distance, rather than the shorter wall. As an added bonus, you often get some additional storage space behind the piece in the corner, too!
4. Scale Furniture
Keep furnishings in scale with the rooms. In small rooms, use slim rockers, open-back chairs or a simple sofa or love seat rather than overstuffed furnishings to avoid overpowering the space.
There are stores that deal exclusively in furniture for apartments and mobile homes. Despite its slightly smaller size, scaled-down furniture can be beautiful. An open headboard is best for a small room. When furnishing, keep the view at eye level unobstructed. Taller furnishings should be placed at the end of the room opposite its main entry.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
Small rooms can feel confining and uncomfortable. Luckily we can utilize certain design concepts that fool the eye and make our rooms seem larger. Try these inexpensive decorating tricks to make your rooms live bigger.
1. Use Light Colors
Light and brightly colored walls are more reflective, which will help to maximize the effect created by natural light. This does not mean you have to live with white walls. There are a wide range of light colors paints available, such as light green or cream beige.
Once you've chosen your wall color, choose your trim and moldings colors. Paint your trims and moldings in either the same hue as the walls, or a lighter color. Lighter objects appear closer while darker or shadowed objects appear further away. When you paint your moldings a lighter color, the wall appears further back - thus making your room appear bigger.
Now, don't be worried that your room is going to be bland and uninviting, bolder and darker colors can be be used in furniture, artwork and accessories.
If your colors are already dark, try to move the darker colors to a 'background' role while maximizing your neutral white or ivory. Be careful when using wallpaper. Solid colors are the safest, with tiny patterns taking a close second. Whatever the wall color or finish, we recommend the ceiling in a small room be painted stark white to maximize brightness.
2. Mirrors
Mirrors can have a favorable impact on a room's appearance. A large mirror in the room will reflect light around the room. The mirrors also reflect both natural and artificial light to make a room brighter during the day and night. They bounce light deep into the room, making it appear larger. This is especially effective with near a window so the outdoors can be reflected.
Use glass-front or mirrored cabinet doors to make spaces feel large and uncluttered. Large, expansive mirrors over vanities, mirrored wardrobe doors or a floor-to-ceiling wall of mirrors (combined with our decorating suggestions) can make even the smallest of spaces seem larger.
3. Arrange Furniture At Angles
Arrange some of your larger pieces of furniture at a angle. You don't have to place the furniture at an exact 45 degree angle, often a lesser angle looks best if you can balance the look with another furniture piece.
Setting your furniture at an angle works because the longest straight line in any given room is it's diagonal. When you place your furniture at an angle, it leads the eye along the longer distance, rather than the shorter wall. As an added bonus, you often get some additional storage space behind the piece in the corner, too!
4. Scale Furniture
Keep furnishings in scale with the rooms. In small rooms, use slim rockers, open-back chairs or a simple sofa or love seat rather than overstuffed furnishings to avoid overpowering the space.
There are stores that deal exclusively in furniture for apartments and mobile homes. Despite its slightly smaller size, scaled-down furniture can be beautiful. An open headboard is best for a small room. When furnishing, keep the view at eye level unobstructed. Taller furnishings should be placed at the end of the room opposite its main entry.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
Tuesday, April 1, 2008
NJ Apartment Market Slowed
Report: NJ apt market slowed - New Jersey apartment market - Brief Article - Statistical Data IncludedReal Estate Weekly, Sept 4, 2002 E-mail Print Link Marcus & Millichap Real Estate Investment Brokerage Company, the nation's largest real estate investment brokerage firm, recently released its Apartment Research Report for the Northern and Central New Jersey market, which finds that the apartment market has slowed along with the surrounding economy, but market fundamentals are still strong.
"Northern New Jersey's popularity among apartment investors continues due to its low construction, high occupancies and overall stable performance," comments David E. Thurston, regional manager of the firm's Fort Lee, N.J., office. "In the short term, the current economic slowdown has harnessed rent and price growth, but market fundamentals and the long-term outlook remain positive."
More Articles of Interest Hilton...Apartment seekers...Fedders acquires 80%...Tom...David Cronheim... Most Popular Publications in Business Business WireBlack EnterpriseReal Estate WeeklyLos Angeles Business ...Communication WorldMore » Following are some of the most significant aspects of the report:
* Local employment will rebound in 2003 after ending this year down only 0.5 percent. In 2001 the Northern New Jersey economy managed to maintain marginally positive growth and a stable employment base. This is somewhat deceiving, however, as job losses in many sectors were camouflaged by a 5 percent increase in F.I.R.E. sector employment between September and December. New York-based firms that had to leave Manhattan to find temporary facilities in Northern New Jersey caused this largely short-term increase.
* Apartment construction is slowing throughout the region although rehab projects continue in Newark. Apartment completions throughout the market should total less than 3,000 units, with three out of four of these projects being constructed in the Newark MSA. The downward trend of construction should continue into 2003. Total multi-family building permits totaled less than 2,500 units in 2001, the lowest level since 1998.
* Despite low single-family home affordability throughout the region, new home sales have impacted rental demand. Not known as a particularly affordable single-family housing market, new home sales have dampened rental demand. Affordability rates vary from a low of 37.2% in the Jersey City MSA to 58% in the Newark MSA, compared to 64% for the overall United States. However, historically low interest rates are pulling tenants out of the rental market into the first-time home-buying market.
* Rents are stable across the market, except for high-end units, which are experiencing concessions and weak demand. Overall, rents will remain relatively flat through year-end but with owners raising rents in rent-controlled markets. Once the economy shows signs of healthy growth, rents will start to climb again.
Rents in this market, like occupancies, have remained relatively stable since last summer. Currently, luxury units have the weakest rent performance and are experiencing concessions and some rent declines.
* Sales prices continue to rise as available product is very thin in the market. Apartment prices continue to rise, in some submarkets significantly, due to the lowest inventory of product in many years. Buyer demand and a low inventory of investment properties will continue to drive prices slightly higher during the remainder of 2002. However, if interest rates and/ or energy costs rise significantly, price levels will stabilize or could even begin to erode.
For a copy of the complete Northern-and Central New Jersey Apartment Research Report, as well as reports on 27 other markets nationwide, visit our website at www.marcusmillichap.com.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you.
"Northern New Jersey's popularity among apartment investors continues due to its low construction, high occupancies and overall stable performance," comments David E. Thurston, regional manager of the firm's Fort Lee, N.J., office. "In the short term, the current economic slowdown has harnessed rent and price growth, but market fundamentals and the long-term outlook remain positive."
More Articles of Interest Hilton...Apartment seekers...Fedders acquires 80%...Tom...David Cronheim... Most Popular Publications in Business Business WireBlack EnterpriseReal Estate WeeklyLos Angeles Business ...Communication WorldMore » Following are some of the most significant aspects of the report:
* Local employment will rebound in 2003 after ending this year down only 0.5 percent. In 2001 the Northern New Jersey economy managed to maintain marginally positive growth and a stable employment base. This is somewhat deceiving, however, as job losses in many sectors were camouflaged by a 5 percent increase in F.I.R.E. sector employment between September and December. New York-based firms that had to leave Manhattan to find temporary facilities in Northern New Jersey caused this largely short-term increase.
* Apartment construction is slowing throughout the region although rehab projects continue in Newark. Apartment completions throughout the market should total less than 3,000 units, with three out of four of these projects being constructed in the Newark MSA. The downward trend of construction should continue into 2003. Total multi-family building permits totaled less than 2,500 units in 2001, the lowest level since 1998.
* Despite low single-family home affordability throughout the region, new home sales have impacted rental demand. Not known as a particularly affordable single-family housing market, new home sales have dampened rental demand. Affordability rates vary from a low of 37.2% in the Jersey City MSA to 58% in the Newark MSA, compared to 64% for the overall United States. However, historically low interest rates are pulling tenants out of the rental market into the first-time home-buying market.
* Rents are stable across the market, except for high-end units, which are experiencing concessions and weak demand. Overall, rents will remain relatively flat through year-end but with owners raising rents in rent-controlled markets. Once the economy shows signs of healthy growth, rents will start to climb again.
Rents in this market, like occupancies, have remained relatively stable since last summer. Currently, luxury units have the weakest rent performance and are experiencing concessions and some rent declines.
* Sales prices continue to rise as available product is very thin in the market. Apartment prices continue to rise, in some submarkets significantly, due to the lowest inventory of product in many years. Buyer demand and a low inventory of investment properties will continue to drive prices slightly higher during the remainder of 2002. However, if interest rates and/ or energy costs rise significantly, price levels will stabilize or could even begin to erode.
For a copy of the complete Northern-and Central New Jersey Apartment Research Report, as well as reports on 27 other markets nationwide, visit our website at www.marcusmillichap.com.
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