Active in the community, Arace was PTA President for two years at Allen W. Roberts Elementary School in New Providence, where she also served as chair of the school’s largest fundraiser on two occasions. A member of Corpus Christi Church in Chatham, she was taught catechism for six years. Arace was also a member of the New Providence Beautification Committee and is a current member of Crestview Swim Club. She graduated from the University of Tampa in Florida.

A long list of colorful characters in American history spent time living in a grand manor in Summit which is currently listed by Claremont Realty Group. This remarkable home, known as Greenough, was built in 1900 by one of Teddy Roosevelt’s Rough Riders, Colonel Allan Bradford Wallace. It was subsequently owned by David Elman, who broadcasted his radio show “Hobby Lobby” from the home’s living room during World War II, and J.W. Rahde, a Wall Street financier who is credited with having the “In God We Trust” slogan imprinted on paper money in the 1950s.
 
This imposing stucco manor is arranged with six bedrooms, five full and two half baths, six fireplaces and an incredible amount of Old World craftsmanship rarely seen today. Each of the owners personalized the floor plan with one-of-a-kind detailing, and the results are stunning. From rich wood paneling to stained glass windows, the home was customized by master craftsman from around the world.
 
Beautifully restored and upgraded throughout, the current owners installed state-of-the-art wiring for telephones, security and technology features. A spectacular gourmet kitchen is filled with designer amenities, yet still respects the architectural integrity of the home. The dramatic Solarium/Billiards Room has a completely refurbished floor-to-ceiling wall of divided light windows fitted with bronze casings and mullions. In the living room, flamed mahogany mantled fireplace and trim, stained glass windows and inlaid wood floors are one-of-a-kind design elements. The spacious interior features an open floor plan of generously-sized rooms and extra-high ceiling heights.
 
Greenough (pronounced green-nock) was named for a small Scottish fishing village by Colonel Allan Bradford Wallace, the home’s first owner. When he first lived here in the early 1900s, his Woodland Avenue home had no neighbors, and a horse-drawn carriage would take him to the train station. Colonel Wallace was active in the National Guard, served in the Spanish-American War and was a “Rough Rider” with Theodore Roosevelt.
 
In 1942, the home was sold to David Elman, whose “Hobby Lobby” radio show interviewed listeners about their unusual interests. Broadcast from his living room in the early 1940s, guests included a woman who hypnotized crocodiles. When Elman was recovering from surgery and missed a show, Eleanor Roosevelt served as the guest host.
 
By 1954, J. W. Rahde and his wife, Ruth, were the homeowners. J. W. Rahde rose through the ranks at Western Union to become the company’s chief financial officer. He also worked on Wall Street as a financial analyst for the Federal Reserve, where he lobbied to have “In God We Trust” imprinted on all paper money. The slogan already appeared on most coins, but Rahde was instrumental in having it placed on bills as well. Mr. and Mrs. Rahde were so proud of those words that they had them lettered above the dining room, had them printed on their checks, and even made sure it was engraved on their tombstones.
 
Another lasting legacy left by the Rahdes is the outbuilding on the property which has a fireplace, powder room and large storage area. The upper level of the building is an open-air terrace with built-in barbecue grill with granite top and pergola. It overlooks the manicured grounds surrounding Greenough, where mature leafy trees and huge flowering rhododendrons accent the green lawns.
 
Today, the 8,000 square foot manor is situated on 1.1 acres of property in one of Summit’s most desirable neighborhoods. For more information about this intriguing and historic new listing, contact Toni George, Principal and Managing Broker of Record at Claremont Realty Group in Summit at 908-230-8468.
 
Founded in 2008 by Janet George and Toni George, Claremont Realty Group is a small, independent, boutique agency with a strong emphasis on personalized service. The company has strong roots in Summit, since much of the staff lives here, and many grew up in town and stayed on to raise their families. Agents are involved community members who are familiar with every aspect of Summit and surrounding towns. Visit their website, www.claremontnj.com, for a detailed overview of their philosophy as well as in-depth descriptions of the newest listings and services.

Occupancy
When selling a primary residence you will likely be living in the home as it is being shown.  This means someone who cares will be there to keep the home looking livable but not “lived in”.  When you have a rental property, there situation can be drastically different.

In some cases the tenant still occupies the property.  Your tenant could be a meticulous house keeper or a total slob or anything in between.  You can’t count on a renter being as conscientious as you would be when the realtor is on the way.  If you have a smoker or a slob as a tenant you may need to wait until the lease is up and the tenant has vacated to show the property.  If you have a neatnik for a tenant, count yourself lucky and show him some appreciation (perhaps in the form of discounted rent) for the trouble of dealing with showings.

Cleaning
Cleaning takes on a whole new meaning when dealing with a rental property.  Not all tenants take care of their rented home in the same manner as they would one they owned.  Even “nice” people or “good” tenants can be a little careless.  A rental property will probably need a professional cleaning from top to bottom if you want to put it on the market.

Carpets should be steam cleaned, grout whitened and exteriors pressure washed.  You may need to apply a coat of primer to cover any wall or ceiling stains before painting.  Bathroom and kitchen floors can also be professionally steam cleaned.  Don’t forget to clean up the exterior as well.

Staging
Staging may be a touch more difficult when you are preparing a rental for sale.  After all, you won’t have your own furnishing to fill the space.  If your property is still occupied, it may be impossible to really stage the home for sale.  The best you can do is to ask the renter to straighten up and minimize the clutter.  If you have waited until the property is vacant, consider renting basic furnishing or hiring a stager to give the home a cozy feeling.

Your Summit NJ real estate agent can give you more advice about getting your rental property ready for the market.  Be prepared for some hard work.  It will pay off at the closing table.

Your credit isn’t perfect so you can’t get financing.
Your credit score is the biggest factor in getting a good rate.  That being said, it doesn’t have to be perfect to get financing.  Scores range between 500 and 850, with most buyers’ scores falling in the range of 600 to 700.  The higher your score, the more options you will have for financing.  Buyers with higher scores will be offered lower rates, but lenders do look at other factors besides your score.  Check your credit score and make sure it’s accurate before you apply for a loan.

Owning is too expensive.
How much are you paying in rent?  Owning a home does cost money but renting isn’t exactly free, either.  As a home owner, you have certain tax benefits that you are not entitled to as a renter.  You will be building equity and putting your payments into something you can one day sell, hopefully at a profit.  Rent money will never come back to you like a mortgage payment will.  Rental rates can, and usually do, go up at the end of your lease while a fixed-rate loan payment doesn’t change.  You should also keep less obvious costs like HOA fees and home maintenance in mind as you budget so that you don’t spend too much.  Your Summit NJ real estate agent can help you figure out how much house you can afford.

You don’t need a realtor.
Buying a house isn’t like going the grocery store.  The price must be negotiated, there are legal aspects to wade through and you might not even know how to find newly listed properties.  Most first-time buyers benefit greatly from the expertise of a buyer’s agent.  Your real estate agent will do things like help you figure out the real value of a property by checking the recent sales in the area, which you would be hard pressed to do on your own.

Read up on some of these myths and see if your still believe them.  You might find that you’ve gotten more misinformation and less fact from all that advice.  Seek the help of a real estate pro to get answers to your questions and divide home buying fact from fiction.

Set the price high so you’ve got room to negotiate.
Pricing is one of the toughest points for a Summit NJ real estate agent to discuss with a client.  A good price that is competitive in the market will drive buyers to your home.  A price set too high will drive them away.  If a buyer sees several listings similar to yours with much lower price tags, why would they bother looking at one that is overpriced?  Be a tough negotiator but don’t alienate your buying pool.

It’s the inside that really counts.
The kitchen may sell the home but the curb appeal will get buyers inside to see the kitchen.  Don’t count on a great floor plan and upgraded appliances to do all the work.  The exterior of you home gets buyers’ attention and set the stage for what they will see inside.  Unkempt yards, dated details and peeling paint always make a bad impression.  You’ll be fighting an uphill battle to sell your house.

The next owner will take care of the repairs.
They might be willing to take on a few repairs but they won’t be willing to pay full price.  Buyers looking for “fixer” will typically offer significantly less than asking price.  Make the repairs and you can list your home as “updated.”

You love your décor; so will buyers.
Your taste is just that - yours.  Don’t expect buyers to like the same colors or fabrics that you like, especially if you like to walk on the wild side of the color palette.  Try to neutralize bright colors and keep the décor simple.  Pare down your furnishings to maximize the space and allow the buyer some room to see their own things in the space.

Sell it yourself and you’ll pocket the commission.
You Summit NJ real estate agent will make a commission from selling your home; that much is true.  A good agent will also earn that commission by selling your home fast and for the best possible price.  He will help you set a price, market the home and show it, print all the flyers, place all the ads and generally do the work you don’t want to do.  Your agent is your advocate in this process and he’ll help you sell as quickly as possible.

The details are what make a house a home.  Little touches and features can capture your heart and stick in your memory long after you’ve moved.  It’s easy to get caught up in the more practical features that our Summit NJ real estate agent is pointing out and we forget to look for those things we will come to value over the years.  Let’s look at a few of the detail you can look for when you’re buying your next home.

Kitchen
Well, this is one room that is necessarily focused on the more practical aspects of life.  Of course you want to look for updated appliances, plenty of storage space and good materials.  But you’ll also want o look for things like cabinet that go all the way to the ceiling.  As your collection of china and serving pieces grows over the years, you’ll appreciate the extra few inches for storing the pieces you use only on Thanksgiving.

Would you like a truly unique but incredibly handy feature in your next kitchen?  Look for a pot filler.  That’s a faucet installed directly above the stove top.  This will save you many trips between the sink and stove toting heavy stockpots of water.  It’s a feature you’ll come to love on pasta night.

Family Room
In the family room, technology reigns supreme.  You’ll want to make sure there is a cable hook up in a convenient spot.  If you can fit in connections for the Internet you’ll be able to use the room for more than just TV viewing.  Look for handy storage for games, toys, books and all the other things that collect in this room.  Make sure the room isn’t too drafty or too hot since you will likely spend more of your time at home in this room than any other.

A rally great feature to fin in a family room is a built-in storage and TV unit.  This will save you money.  You won’t have to buy an expensive piece of furniture to fit the space.

Bedroom
The bedroom will get the next largest chunk of you time at home.  Be sure this room is large enough to be comfortable.  If you can fit a comfy chair or chaise in your bedroom, it will serve as a mini-retreat as your family grows.

No cold feet
If you are this close to closing on a home, you shouldn’t have cold feet.  Once you have chosen a home, made an offer and gone through the inspection process, you should feel pretty certain about your decision.  Granted, if there are major problems upon final walk through you shouldn’t feel badly about backing out.  But if you are just experiencing a bout of buyer’s panic, do some deep breathing exercises and go to your closing.

Be specific
You contract should specifically detail the particulars of your purchase.  Get everything down on paper and make no assumptions.  Your seller could have invested a great deal of money in something like a chandelier and may have every intention of installing it their new home.  It could also be the one detail that made your choose that house.  Ask your Summit NJ real estate agent exactly what is included in your purchase.

Clean up
Sellers should leave a sparkling home behind for the final walk through.  If you are short on time, hire a service for the heavy work like carpet cleaning.  Once the furniture is out and all the personal effects are gone, imperfections are much more obvious.  Your buyer may ask for concessions if they are left with stained carpet or damaged walls.

Arrive with documents in hand
Ask your Summit NJ real estate agent exactly what documents you need to bring to closing.  Have him write a check list if you must.  If you think you might need it, bring it along.  It’s better to have too many pieces of paper than to be missing the one you need to complete the sale.

Double check the check
Once you have your cashier’s check from your lender, take a hard look at the amount.  Double check both the numbers and the written portions of the check to make sure they match each other and are the exact amount you need to close.  Even bankers commit the occasional typo.

No more negotiations
Once you arrive at the closing table, you’re deal should be complete.  Don’t ask for a new concession or try to renegotiate the price.