Mansion Monday!

Resources Real Estate Luxury Real Estate in Monmouth County, NJ 732-212-044041 Marlpit Place This stunning colonial in Middletown offers 6 bedrooms, 5 1/2 baths, grand foyer with inlaid stone floors, custom kitchen with double island & fine appliances, wet bar, fireplace, built-ins,and lots of space throughout! Located on the end of a cul-de-sac the private backyard boasts a blue stone patio, BBQ, bar & fire pit, Close to trains.

Check out this COOL 360° Tour and then Call Thomas McCormack at 732-241-5695 to take a tour in person!

FOR IMMEDIATE RELEASE:

Resources Real Estate presents sales associates with the October Awards

Resources Real Estate Luxury Real Estate in Monmouth County, NJ 732-212-0440Middletown, NJ, November 27th 2017 — Resources Real Estate presented several sales associates with internal awards to honor their outstanding achievements during the month of October 2017.  The company meeting took place on November 1st at the Middletown Public Library.

Sales Associate Gina Farkouh, who works in the Rumson office, was named Agent of the Month.  This award is given to an agent in recognition of his or her sales success in the previous month, including new listings, recent contracts and sold transactions, as well as past client recognition of their efforts, and other business-building activities.  Gina’s total business for the month of October was $2,855,900, including $312,000 in sales closings, new listings totaling $858,700, and close to $1,676,200 in properties under contract.  Gina also received the Top Listing Agent Award for representing three listings in Rumson and Red Bank totaling $858,700.

“Gina’s wealth of knowledge of local homes, as well as educational environments recreational and after-school programs has made her very popular with her clients,” said Carolynn Ozar-Diakon, Senior Partner and Broker.  “Her firsthand experience with new construction and development gives her a unique perspective that transcends the average realtor’s know-how.”

Sales Associate Michele Achimov, from the Red bank office, was presented with the Featured Luxury Agent award, which is an honor given to a sales associate active in the luxury market with a residential listing above $1 million.  Michele represents the four-bedroom, three-bathroom waterfront home at 20 Alwin Terrace in Little Silver, listed for $1,099,000.

The Rainmaker Award was given to Allison and Mark Gregory from the Red Bank office.  Allison and Mark founded the Todd Book Break, a library box in honor of Norma Todd, the former owner of their house at 109 Bank Street in Red Bank.  For 25 years Mrs. Norma Todd was the Executive Director and the heart and soul of Lunch Break, an organization that freely provides food, clothing, life skills and fellowship to those in need in Monmouth County and beyond.  The library box is open to the public and allows children in the area borrow books as well as leave donated books.  The ribbon cutting ceremony for Todd Book Break hosted such esteemed guests as the current executive director of Lunch Break, several local politicians, and colleagues from Resources Real Estate, who assisted with refreshments and distributing flyers to get the word out.

The Perseverance Award was given to Trish Collins from the Atlantic Highlands office.  This award is presented to an agent who closes a transaction despite great challenges.  Trish’s devotion and determination helped overcome various obstacles and achieve success for her clients.

Lastly, JoAnn Davenport from the Red Bank office received the Team Spirit Award, given to a sales associate who extends him or herself to help colleagues and/or the company as a whole.  Her colleague Patrice George nominated Joann for her assistance with a commercial property transaction.

“Our agents go beyond the regular representation of their clients,” said Thomas McCormack, Managing Partner and Broker.  “We have always taken pride in our agents’ knowledge of the luxury market, but it’s their drive, their going-the-extra-mile attitude, and their personal touch that makes the Resources agents unique.”

About Resources Real Estate:

Resources Real Estate is an award-winning Monmouth County, NJ full-service independent residential brokerage firm, with four offices and a team of more than 95 sales and support personnel.  It has been included in Inc. Magazine’s list of the fastest-growing privately owned companies in the U.S. — the Inc. 5000 — as well as the NJ Biz 250 of the top private companies in New Jersey.  It has been recognized by Who’s Who in Luxury Real Estate for its innovative and superior marketing.  Resources Real Estate was opened by Carolynn Diakon in 2000.  Thomas McCormack has been with the company since 2002, and joined Diakon as a partner in 2010.  Resources Real Estate locations are: 36 Beach Rd. in Monmouth Beach, NJ, 112 River Rd. in Rumson, NJ, 4A W. Front St. in Red Bank, NJ, and 65 First Ave. in Atlantic Highlands, NJ.

For more information, call (732) 212-0440 or visit http://resourcesrealestate.com

 

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For more information contact:

Jane Robinson

jane@resourcesrealestate.com (732) 212-0440

Resources Real Estate, 112 E. River Rd., Rumson, N.J. 07760

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Why Trump’s tax plan is a boon for the ultra-luxury market

Resources Real Estate Luxury Real Estate in Monmouth County, NJ 732-212-0440
Waterfront Estate located at 80 W. River Road, Rumson, NJ 07760. Listed by Resources Real Estate 732.212.0440

by Inman’s Chad Roffers

All things point to a more favorable environment for very high-end homeowners.

Key Takeaways

In the House’s proposed tax plan, it’s the capital gains that may make the biggest difference, rather than the MID. For the ultra-luxury market, the $10 million-plus range, the tax plan is a boon.

Although much of the furor over the proposed tax reform plan from the Republican-led House has focused on the reduction to the cap for the mortgage interest tax deduction, it is the proposed changes in capital gains that may make the biggest difference.

In fact, Mark Zandi, chief economist at Moody’s Analytics, told The Chicago Tribune that the tax changes could reduce prices in the most expensive markets by 10 percent. Price escalation has slowed over the past couple of years, and CoreLogic has reported that over one-third of the top 100 markets are overvalued, so this may be part of a larger correction.

Boon or curse?

For the ultra-luxury market (the $10 million and up range), the tax plan is a boon. Buyers who can afford that price point are usually business owners or those with inherited wealth. They will likely benefit from the low corporate tax rate and pass-through rates from S Corps and LLCs.  The tax plan from the House also follows through on President Trump’s stated goal to eliminate the estate tax as much as possible.  The bill doubles the basic exclusion amount for gift and estate taxes and repeals the estate tax in six years. Down the road, this could have a phenomenal impact on the distribution of wealth, further fanning demand for homes in excess of $10 million.

For the immediate future, it’s the capital gains changes that will have the greatest reverberations.  Currently, homeowners are allowed to exclude up to $250,000 in capital gains ($500,000 for married couples) when they sell a primary residence.

The existing rule states that owners must have lived in the home for two of the last five years of ownership. The new plan would require that the homeowner must have lived in the home for at least five out of the past eight years.

The changes also allow one sale every five years instead of every two. The exclusion is also diminished by a dollar for every dollar a joint taxpayer’s adjusted gross income exceeds $500,000. The markets that will be most strongly impacted are those in the Northeast and on the West Coast. In some of the areas, where luxury properties have already lingered on the market, many sellers may opt not to sell after all.

In markets such as San Francisco, the combination of high prices and low affordability have already taken a tremendous toll; the proposed tax plan may create added stress on the region. In places like New York where property taxes are high, the part of the plan that would cap the property tax deduction at $10,000 would also have a big impact.

Jerry Howard, CEO of the National Association of Home Builders, told USA Today that “3.7 million households paid more than $10,000 in property taxes in 2016.”

Our predictions

What the tax bill will do is provide new constraints and considerations as people begin to contemplate making their next moves.

What we may see in the short term is a bit of a seller stampede as sellers try to sell now and maximize their profits. For example, if buyers purchased a home for $1 million and then had a $1.25 million sale, they could see nearly half of their profit out the door in taxes and fees.

In the long term, the proposed changes could also affect how owners feel about commissions. The middle of the market is where taxpayers will get squeezed the most, and that is also where agents make the biggest chunk of their earnings. With a smaller piece of the profits from each sale going back to the seller, every percentage point will be up for debate.

It’s too soon to know whether the proposed tax reform will successfully make it through the legislative process, but at this point, all things point to a more favorable environment for the very high-end and uncertain times for most American homeowners and the real estate community.

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FOR IMMEDIATE RELEASE:

Resources Real Estate Agent Sells Rumson Home for over $3.3M

Resources Real Estate Luxury Real Estate in Monmouth County, NJ 732-212-0440Rumson, NJ, September 18th, 2017 — Resources Real Estate’s agent Jessica Hickey sold the property at 12 Sheraton Lane in Rumson for $3,305,000 on September 5th.

The stunning 6,300-plus-square-foot custom home sits on 1.68 beautiful acres on a quiet lane in the heart of the estate area of Rumson.  The elegant 6-bedroom, 7.5-bath house boasts 10-foot ceilings, radiant heat throughout all three floors and garage, and an open floor plan with an expansive gourmet kitchen, designer baths, three fireplaces, family room, and great room opening to a three-season bluestone screened porch.  Additionally, the house features a guest suite and study, full finished basement with gym and steam shower, optional media room and wine cellar, a walk up attic and a generator.  The land has plenty of room for a pool and pool house.

Jessica Hickey is a Resources sales associate from the Rumson office.  As a buyer’s agent, she identifies properties, negotiates price, and manages all details on behalf of the buyer.

“There were a number of logistical challenges with this transaction, which we worked hard to overcome,” said Hickey.  “I was very happy to see my clients settling into their new home in Rumson.  It was extremely gratifying to be able to be of help.”

“Jessica gets very involved in the local community, has served many local charities, and regularly volunteers for the local educational system,” said Carolynn Ozar-Diakon, Senior Partner and Broker.  “Her personal experience of living in Rumson and vast local knowledge serves her well – it has helped her to direct her clients to the specific area that would best serve their needs and wants as a family, and to find them a home with all their specifications.”

“Jessica is a great representation of the Resources team,” said Thomas McCormack, Managing Partner and Broker at Resources Real Estate.  “Our agents live and breathe their respective territories and are not only knowledgeable about different neighborhoods, house prices and opportunities, but they also share their wisdom about the best schools, country clubs, after-school programs, and shopping centers.  They truly serve as their clients’ personal guide.”

About Resources Real Estate:

Resources Real Estate is an award-winning Monmouth County, NJ full-service independent residential brokerage firm, with four offices and a team of more than 95 sales and support personnel.  It has been included in Inc. Magazine’s list of the fastest-growing privately owned companies in the U.S. — the Inc. 5000 — as well as the NJ Biz 250 of the top private companies in New Jersey.  It has been recognized by Who’s Who in Luxury Real Estate for its innovative and superior marketing.  Resources Real Estate was opened by Carolynn Diakon in 2000. Thomas McCormack has been with the company since 2002, and joined Diakon as a partner in 2010.  Resources Real Estate locations are: 36 Beach Rd. in Monmouth Beach, NJ, 112 River Rd. in Rumson, NJ, 4A W. Front St. in Red Bank, NJ, and 65 First Ave. in Atlantic Highlands, NJ.

For more information, call (732) 212-0440 or visit http://resourcesrealestate.com

###

For more information contact:

Jane Robinson: jane@resourcesrealestate.com (732) 212-0440

Resources Real Estate, 112 E. River Rd., Rumson, N.J. 07760

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Mansion Monday!

Resources Real Estate Luxury Real Estate in Monmouth County, NJ 732-212-0440Resources Real Estate Presents…41 Marlpit, Middletown, NJ 07748!

Stunning 6 bedroom, 5 and 1/2 bath home located at the end of a cul-de-sac with ample space inside & out. Quality craftsmanship & good taste abound in this impressive residence that features grand foyer with inlaid stone floors, formal dining room with custom wall treatments, custom kitchen with double island & fine appliances, an expansive family room with wet bar, multiple seating areas, fireplace & built-ins.

The rear blue stone patio is wonderfully designed with BBQ, bar & fire pit and looks out to private & roomy backyard. Master suite features tray ceiling, and a spa-like marble bath retreat with two-person deluxe whirlpool & separate shower plus an enormous walk-in closet. Bonus room offers many options (game room, entertainment, etc) and includes guest room with full bath. Near trains.

Check out this COOL 360° Tour and then Call Thomas McCormack at 732-241-5695 to Tour this Wonderful Home in Person!

http://bit.ly/41marlpitvrtour

Here’s Your Resources Real Estate Weekly Market Buzz!

Resources Real Estate Luxury Real Estate in Monmouth County, NJ 732-212-0440
Want the Latest Real Estate Market Info? The RESOURCES Report is now available! Check Out What Has Sold In (and Around) YOUR TOWN and For How Much!
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