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75,000 New Yorkers relocated to New Jersey in 2024. Individuals, couples, and families from all income levels ditched the Big Apple in favor of the Garden State. With the cost of living rising sharply across the country, it is no wonder folks are looking to exit one of the most expensive cities in the world. The draw of NYC is obvious. Folks around the globe dream about living in this cultural epicenter. But calling NYC home comes with many sacrifices. Whether you are being priced out of the city or simply looking for a different lifestyle, New Jersey offers a best-of-both-worlds alternative to city living. You are still close enough to the city to enjoy all NYC has to offer while taking advantage of the perks of the suburbs. If you are an NYC resident considering a big move to NJ, here are some things you should consider. Space Lack of space is a huge factor motivating NYC residents to pack up and head across the river to NJ. NYC has the densest population of any US city, with about 29,300 people per square mile (and 74,780 per square mile in Manhattan). Because of this, real estate is priced at a premium, and you will pay more money for less space. When you outgrow the space you can afford in NYC, you can find yourself priced out of the city. In general, NJ real estate offers more space for less money. Growing families, pet owners, or those looking for more space could benefit greatly from moving to New Jersey. Outdoor Activities Outside of Central Park and a few other small parks scattered across the city, outdoor spaces in NYC are limited to concrete and the hustle and bustle of city life. One of the most commonly listed reasons for relocating out of the city is more access to the outdoors. Most NJ properties either include their own backyards or have quick access to local parks and recreational areas. Easy access to larger outdoor spaces opens up all kinds of opportunities for new activities, exploration, and relaxation in peace and quiet. School Systems Several northern NJ towns have nationally ranked school districts, offering educational opportunities for families with children. These New Jersey schools are well-funded, offer smaller classes, more individualized attention, and a strong sense of community. School systems in the suburbs can offer vigorous academic curricula, strong extracurricular activities, and a wide range of services to support student development. Cost of Living New Jersey has the highest property taxes in the country at 2.23%, with an average tax bill of $10,570 per year. While the actual tax bill the average New Yorker pays will vary widely depending on location and type of residence, the property tax rate is 1.64%—significantly lower than in New Jersey. But while you can expect to pay higher property taxes in NJ, the cost of living is generally lower in all other areas. You will typically pay much less in NJ for goods, services, dining out, entertainment, rent, utilities, and many other expenses. Commuting If you work in the city, your move to NJ will mean you need to commute farther. Your commute will look very different depending on which part of New Jersey you prefer. While you may be used to public transportation, not all NJ towns have the infrastructure to rely on it alone. In many areas of NJ, you will likely need a car not just for your work commute but also for errands and exploring outside your workweek. That said, many northern NJ towns and cities are connected to NYC via NJ Transit. A quick 5–10-minute car ride can get you to a train station or bus terminal. While your commute may take longer than walking a few city blocks or hopping on the Subway, NYC is still very accessible from most of the surrounding NJ counties. Lifestyle NYC is one of the busiest cities in the world. You have instant access to a wide range of art, entertainment, history, culture, sports, and restaurants within a few blocks of your residence. Giving that up can be difficult. You won’t be able to Uber Eats dim sum at 2 AM in the suburbs. Given that access to NYC's cultural pulse is one of the main aspects of its appeal, this can be a major factor. Adjusting to life outside of the city can be a huge culture shock. But local amenities and a slower-paced life mean more free time and a more relaxed day-to-day. Sure, you are not swept up in the bustle of city life every day, but you may have more time to relax and enjoy a book in your hammock out back. Where in New Jersey?  Where you choose to settle in New Jersey will depend entirely on your specific needs and preferences. NJ is a diverse state with small rural communities, walkable towns, and smaller urban cities. Deciding why you are moving to NJ will help you determine what you are looking for in your new home. If you value quiet and have been wishing for more space and privacy, you may be considering moving a bit farther into a smaller town or rural community. This will come with the trade-off of a longer commute into the city, which can be a major sacrifice if you still work there. If a long commute isn’t for you or you plan to rely on local transit options instead of driving, you can look for towns or cities along NJ Transit lines. This will give you quick access to public transportation that can get you to the city quicker than driving. Choosing to live in these areas likely means living in a more populated area with a bustling downtown and quieter residential areas. If you are looking to ditch NYC prices without sacrificing the bustling lifestyle, consider places like Hoboken or Jersey City for quick access to Manhattan, along with bars, restaurants, and nightlife. Regardless of your preferences, New Jersey has it all. You just need to find the spot that supports the lifestyle you are seeking. Working with experienced NJ real estate professionals is the best way to ensure your move to NJ is a success. A local NJ real estate agent can help you find the perfect place for your relocation based on the unique needs of you and your family. Real estate agents are knowledgeable about local culture, school districts, public transportation, and so much more. They can help you find the perfect home in the perfect spot. Like any major life change, moving from NYC to NJ will have trade-offs. Understanding what to expect can help you adjust your expectations and be better prepared for the change. Veitengruber Law is an experienced NJ real estate legal team. We have worked with many families moving to NJ from NYC and are well connected with other local NJ real estate professionals. We think New Jersey is a great place to call home, and we would love to call you our neighbor!

Back in January, real estate experts predicted we would see major improvements in the housing market throughout 2026. Early projections showed mortgage rates falling, slower price growth, and a boost in home sales. Since 2021, real estate insiders have been watching and waiting for the year the market levels out. At the halfway point in 2026, it doesn’t look like this is going to be that year. As an experienced real estate attorney in New Jersey, Veitengruber Law works with local real estate professionals every week to help NJ residents achieve their real estate goals. Here is the insider’s scoop on the real estate market halfway through 2026. Mortgage Rates Remain High In 2025, mortgage rates for 30-year fixed loans went down from an average of over 7% in January to 6.66% in December. In 2026, those rates were predicted to drop as low as 6.12% by June—but that isn’t happening. Now, the average rate for 2026 is expected to be 6.37%. And while that does not seem like a huge difference, that small percentage can price out some hopeful homebuyers. The higher the interest rate, the higher the monthly payment. Even a few hundred dollars can make a difference. Slower Sales Buyers are out there—but they are being cautious. Homes are not flying off the market. Buyers are taking their time to ensure they are getting the best deal on a home within their budget. Buyers and sellers face different affordability challenges. For buyers, it can be difficult to find a home in their budget or justify the cost of homeownership in rocky economic times. On the other hand, sellers are holding onto their property to avoid entering the market themselves and losing the low interest rates of years ago. Home Prices Still Rising Despite slower sales and high rates, home prices are not expected to drop throughout the rest of 2026. Over the last five years, we have seen home prices skyrocket. While early in 2026, some experts anticipated a stronger slowdown in price growth, that has not happened. Median home prices are expected to increase by 2.6% this year. Home values are still growing. While this is good news for sellers, buyers may find it difficult to afford the homes they are interested in. What Should Buyers Focus On? Buyers looking to purchase a home in 2026 or early 2027 should find a more stable market than in the last few years—but that doesn’t make it totally ideal. Take your time to assess the value, location, and monthly payment of any home you are considering. A slower market means you have space to compare properties, get all your questions answered, and make unrushed decisions. Affordability is a huge factor that buyers need to consider. Set a defined budget and stick to it. Once you have your budget, you can move towards achieving your real estate goals, no matter what the market looks like. Focus less on trying to time your purchase to the market. Instead, focus on understanding the costs of buying a home and how much your budget can afford. What Should Sellers Focus On? For sellers, pricing matters. Buyers are grappling with major affordability challenges due to high interest rates and home prices. A home that is priced reasonably will do better on the market right now than a home that is overpriced. Buyers are cautious. Work with experienced real estate experts to determine how to price your home to sell. They will be able to guide you to a listing price that protects your investment while quickly moving your property off the market. Another important factor is marketing. Do not skip crucial prepping that can make your home look more appealing. If you are seeking top dollar for your home, make sure you put in the work ahead of listing. Fresh paint, necessary repairs, curb appeal, or even some minor updates could improve your home's performance on the market. The better the product you are offering, the more serious buyers you will attract. Working With Real Estate Professionals  While headlines about the chaotic market might be attention-grabbing, the best way to get the most up-to-date information about your local housing market is to work with experienced local real estate pros. Real estate agents and real estate attorneys can help you decide how much house you can afford and help you find the best property for your needs. Timing the market perfectly matters much less than working with trusted professionals and staying true to your budget. As the real estate market adjusts in 2026, we can expect to continue seeing high rates, slower sales, and moderate home price growth. But if you are knowledgeable about the market, you can still achieve your goals as a buyer or a seller. Veitengruber Law is ready to help you achieve your 2026 real estate goals.

Purchasing an abandoned home in New Jersey is a fantastic way to grow equity by securing a cheap property—but it can be risky. Neglected or empty homes often come with physical defects and legal and financial entanglements. Back taxes, municipal liens, and structural issues can drain your funds. If you are debating purchasing an abandoned property, it is important to think through the decision well in advance of signing on the dotted line. Veitengruber Law is an experienced real estate attorney in New Jersey. We have worked with many homebuyers to successfully purchase abandoned NJ properties. Here are some things to consider: You Need Cash While the sales price of an abandoned property may be low, the cost of renovations can be astronomical. Most abandoned home renovations cost between $50,000 and $200,000. When you are determining if you can afford an abandoned property, you need to consider a few things: 1. Sweat Equity : You can really bring down the cost of your project with some hard work and skill. If you have the skills and physical ability to do many of the repairs and renovations yourself, the work needed to get the home up and running can become much more affordable. Be realistic about the tasks you can tackle versus those you should hire professionals to do. Trying to cut corners to save money now can result in damage or bigger expenses down the line. 2. Financing Troubles : Traditional mortgages will require a home to be livable. Because most abandoned properties are uninhabited and in disrepair, it can be difficult to secure traditional financing for your purchase. Instead, you will need to consider other funding options, such as personal loans, specialized construction loans, or cash savings. These funds need to cover not only the purchase of the property but also the renovations that will follow. You Need Experts Purchasing an abandoned property comes with unique challenges. It is crucial to have a team of experts on your side to ensure that your best interests are guarded throughout the purchasing process. Some of the experts you need include: 1. Real Estate Agent A real estate agent can help you find abandoned properties for sale by searching through vacant property lists and municipal tax sales. Experienced real estate agents have a keen knowledge of the properties and real estate practices in the area. They may be able to give you an insider’s scoop on a property. Real estate agents are also well-connected to other real estate professionals in the area who can assist you in achieving your goals. 2. Home Inspector: Most abandoned homes are sold “as-is,” which means the home is being sold in its current condition, and the seller or owner will not make any improvements. When you agree to purchase the property, you agree to accept the condition of the property. You need to work with an experienced home inspector to get an idea of the repairs needed. While entry to the home for an inspection is sometimes not possible with abandoned homes or homes sold at auction, you can typically still get an inspector to take a look at the areas of the property they can access. 3. Real Estate Attorney A real estate attorney can help you do crucial research on the legal and financial entanglements of an abandoned property. They can search the local tax assessor’s office records for the deed and tax history of an abandoned home. This research will help you identify who owns the property and the extent of any debt associated with the property. An attorney can also perform a thorough title search on the property to ensure you are not inheriting a mountain of debt. If you are thinking about purchasing an abandoned property, Veitengruber Law is ready to be part of your team!

When you inherit a home, knowing what to do with the property can be complex and overwhelming. You are likely dealing with the arduous task of making a ton of quick decisions, filling out seemingly endless paperwork, all while potentially feeling the grief of losing a loved one. Whether you are the executor of an estate, inheriting alongside siblings, or the new sole owner of a property, determining next steps can be challenging. Veitnegruber Law is an experienced real estate and estate planning attorney in New Jersey. We have a keen understanding of the legal and financial complexities of real estate transactions and the inheritance process, and how these two areas can overlap. Here is our guide on selling an inherited home in NJ. A Note on Probate Whether a property needs to go through the probate process depends largely on the type of ownership it has. For example, properties held in a trust or co-owned property will typically avoid probate. On the other hand, a home owned solely by the decedent, estates without a will, and situations in which creditors must be notified of an ownership transfer will require probate. 1. Establish Authority The first thing you need to do is determine if the property can be legally listed or sold. The executor of the estate must be officially appointed by the local courts, with authority to proceed to a sale if desired. If the decedent left an estate plan or will, the named executor will file the will and death certificate with the Surrogate’s Court in the county in which the property is located. The Surrogate’s Office will then give the executor “letters of testamentary.” This legal document grants the executor legal authority to manage and settle the estate, including selling the property. If there is no will in place, the individual(s) who wish to serve as executor (s) may petition the court for appointment. If approved, the court will grant the chosen individual “letters of administration,” which work similarly to letters of testamentary but give an individual authority to manage an estate despite not being named in a will. Once authority is established, it is critical to secure the property promptly. Because the executor is responsible for the property's well-being, it is important to change the locks to limit access. The executor will also need to ensure regular upkeep. If the property is occupied, you will need to discuss your plans to sell with the occupants as soon as possible. Acquiring a legal Notice to Quit may be necessary if the occupants refuse to move. 2. Financial Issues and Tax Waivers To successfully close on a home, there are specific tax hurdles that must be cleared. Under NJ law, creditors must be notified that an estate is in probate. Creditors then have nine months to file claims against the estate. The executor must also settle debts, taxes, or other financial aspects tied to the property being sold. Executors are also responsible for paying or settling inheritance taxes. They can obtain a real property tax waiver from the NJ Division of Taxation. This will clear any tax liens on the property, allowing it to be sold free and clear of financial entanglements. If a tax waiver cannot be secured for any reason, the buyer's title company may make the sale conditional on the estate providing compensation for tax liens. 3. List and Market the Property As soon as the executor receives the Letters of Testamentary or Administration, the home can be listed for sale. You do not need to wait for the entire probate process to conclude to begin selling the home. Closing, however, is contingent on final probate clearance. In NJ, the probate process typically takes 6 to 12 months, while home sales normally take 30 to 90 days. Many executors choose to list properties “as-is,” meaning the estate will not make any repairs or renovations to improve the property's condition. This absolves the estate from having to make any repairs or from using limited estate funds to do so. Make sure the as-is condition is clearly stated when listing the property. You also need to ensure that you disclose any known defects in the property as required by law. 4. Closing Once the property closes and the sale has officially occurred, the sale proceeds will be deposited into the estate’s bank account. From these funds, the executor can pay off any remaining estate debts and cover administrative costs. Any remaining funds will be distributed to the estate's beneficiaries. If you are going through the process of selling an inherited home in NJ, a real estate attorney is a crucial partner who can help you navigate the sale and ensure all legal requirements are met. Working with an experienced team of legal, real estate, and tax experts can ensure that the sale proceeds smoothly and that you, as the executor, act in the estate's best interests. When you need a real estate and estate planning lawyer in NJ, Veitengruber Law is uniquely qualified to assist in this process.

The Community Wealth Preservation Program (CWPP) was signed into law by Gov. Murphy on January 12, 2024. The goal of this legislation is to protect homeowners and their loved ones facing residential foreclosure. The law provides additional time to homeowners, next of kin, tenants, and “other prospective owner-occupants” to buy back the property with special financing opportunities. The intent of the law is to give homeowners and their loved ones the opportunity to retain their investment, even after a property has entered the foreclosure process. Here, we take a closer look at the CWPP and what this law can mean for families facing foreclosure. The Law The CWPP is actually an amendment to section N.J.S.A. 2A:50-64 of the 1995 NJ Fair Foreclosure Act (FFA). This amendment was created to make it easier for folks with ties to a property to protect their claim even during foreclosure. The amendment also gives creditors who are legally responsible for the maintenance and security of a property the right to enter the property for the purposes of upkeep if the property becomes abandoned. The law also states that anyone bidding on the property may not enter it before the sheriff’s sale. The goal is to prevent the loss of generational wealth, especially in Black, Brown, and BIPOC communities that are heavily impacted by foreclosures. The law also combats private equity firms and corporations from buying distressed properties, instead empowering ordinary people to maintain or acquire a residence. Key Elements There are a few key elements of the law that aim to create a standardized, fair application of the legislation: First Right of Refusal Under typical foreclosure law, the homeowner has what is called the “first right of refusal.” The first right of refusal gives the homeowner the opportunity to purchase their home at a sheriff’s sale before it is sold to a third party. The CWPP expands the pool of eligible right of refusal buyers to include next of kin, tenants, and specific nonprofit community development corporations. To exercise the right of first refusal, the homeowner or eligible buyer must pay the original upset price for the property. The “upset price” is the minimum price at which the home can be sold at a sheriff’s sale. This price must be posted online at least four weeks before the sale. To exercise the right of refusal, the individual must intend to use the property as their primary residence for at least 84 months after purchase. Using the home as a primary residence also allows the bidder to put down a smaller deposit of 3.5% of the upset price. The remainder of the upset price is due within 90 business days of purchase. If the bidder cannot pay the full upset price within 90 days of the sale, they must forfeit their deposit and pay any accrued interest. There is an exception if the failure to secure financing is not the bidder's fault but due to circumstances beyond their control. Outside Bidders It is crucial to note that if the bidder is not the foreclosed-upon defendant, their next of kin, a tenant, or a nonprofit, the deed will state that the property cannot be sold for 84 months after purchase. Additionally, they will face a fine of $100,000 for a first-time violation and $500,000 for any violation after. Exceptions will be made for buyers who acted in good faith and were forced to leave the property due to extenuating circumstances, such as divorce, military deployment, a change in employment, or medical issues. Financing Eligible bidders are allowed to finance the purchase of the foreclosed property at a sheriff’s sale if they can provide sufficient evidence of pre-approval for a loan. The loan must be through a financial institution regulated by the Department of Banking and Insurance. If the bidder is using financing to secure the purchase of the home, they must be pre-approved for the listed upset price. They also cannot submit bids higher than the amount they have been preapproved for. The buyer will have up to 90 business days to close on the property—a significantly longer timeline than most traditional sales. This gives the buyer ample time to secure the financing needed to close. Legal Challenges While the law was originally enacted to boost equity among homeowners in the state, there have been several legal challenges to its constitutionality. In some counties, specific aspects of the law have been suspended. A 2025 Mercer County court ruling declared the “right of refusal” for nonprofit community development corporations (NCDCs) unconstitutional. An NCDC is a nonprofit organization whose main purpose is community revitalization through the restoration of vacant or abandoned properties. The goal of these organizations is to preserve affordable residential housing. After the Mercer County ruling, several other counties have either suspended or amended nonprofits' ability to participate in the CWPP. Those counties include: Burlington County: Suspended the acceptance of any non-profit organizations from acquiring properties at sheriff's sales through the CWPP. Cape May County: Deferred the acceptance of bids from NCDCs pending future legal updates. Mercer, Morris, and Union Counties: Modified the requirements for NCDCs, allowing them to bid alongside the general public without the right of refusal. How to Participate If you are facing foreclosure or are seeking to purchase a foreclosed property through the CWPP, you must first register your intent to utilize the program through your local sheriff’s office. Your sheriff’s office will be able to provide the specific guidelines of the sale, the sale schedule, and any applicable registration links for the sale. To register your intent to participate in the CWPP, you must submit all the required paperwork to the sheriff’s office at least three days prior to the sale. Common documents required for all bidders include: Pre-registration form (available at your local sheriff’s office) Two forms of valid identification, including one photo ID Financing documents, like a pre-approval letter If you are participating in the sale as a tenant, you must submit the following additional documentation: A physical, notarized copy of a valid lease showing residency for at least a year Proof that all rent payments are current Proof of residency Proof of enrollment in an 8-hour HUD-certified homebuyer education course A signed occupancy affidavit declaring your intention to reside at the property for no less than 84 months Non-profits have another set of documents they must provide: IRS Determination Letter of tax-exempt status and a current 1023 form A current NJ Certificate of Good Standing as a formation/incorporation A signed mission statement Working with an experienced NJ foreclosure attorney is an excellent way to ensure you are receiving the full protections of this program. An attorney will understand the key aspects of this relatively new legislation and help guide you through the statutory requirements. They will also handle all the paperwork and deposit requirements to ensure you are on track. Veitengruber Law’s legal team is experienced in all things New Jersey real estate and foreclosure. We work with NJ homeowners and families to protect their equity, defend against foreclosure, and save their homes. Our real estate attorney has decades of experience successfully helping NJ homeowners stay in their homes. Since 2024, we’ve used the CWPP to help our clients maintain or acquire a residence. A home is not just a piece of property: it is the foundation for generational wealth. Let’s protect that wealth and keep it in your family.