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Tuesday, September 3, 2013

How Have the Rising Interest Rates Affected the Real Estate Market?



How Have the Rising Interest Rates Affected the Real Estate Market?

Hey, everyone. We’ve seen a lot a great activity going on for both buyers and sellers. However, in the past 90 days, interest rates have increased by about one percent.  The increase slowed buyer activity a little.

The increase, though, has had a somewhat positive impact on our market. Before home prices were unpredictable, now prices are much more quantifiable. We are able to predict price trends better.

The rising interest rates have not affected activity tremendously, but it is important to keep an eye on what’s going on. Buyers need to lock in the lowest rate possible!

Give me a call if you are looking to buy or sell, or if you have any questions.  We’d love to help!

Tuesday, August 20, 2013

New Jersey Real Estate Market Update August 2013


New Jersey Real Estate Market Update August 2013

Summer is coming to an end. School is back in session and it’s almost time to break out the sweaters. The housing market, though, is still hot!

While historically August tends to get less viewing traffic, the buyers that are looking are serious and of quality. In fact, the period between Labor Day and Thanksgiving is the second strongest time in our New Jersey market.

I am excited to see some dramatic changes in the market. There are going to be a lot of buyers and a lot of sellers looking to make their move before the holiday season starts.

If you are considering buying or selling, please give me a call or send me an email; I’d be more than happy to help or to answer any of your questions.

Friday, April 12, 2013

What’s Cooking?


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Although it took twice as much work as they anticipated, a family of four turns a generic, cramped kitchen into the kitchen of their dreams. The project took over 10 days, but it looks amazing with great style and so much more space. 

Friday, February 22, 2013

Determining an Accurate Selling Price of Your Home



It’s very common to want to overprice your home but the truth is it can really backfire. It is important to make sure you are getting good market statistics that accurately depict the goings on of your marketplace and once you have those numbers that you use those statistics in determining your pricing benchmark. Since real estate is very local, anything that goes on in the next state or even the next region may not have much impact on your particular neighborhood. In fact, within one area there may be several different results when looking at and studying buyer trends and habits. 

Have an Appraiser Evaluate Your Property
One of the ways we suggest sellers get an idea of what they might expect for their home is to get an appraisal done on your home as that will likely provide a true estimate of the home’s value. At the time of purchase, lenders will require that a buyer have an appraisal done anyway. Getting one done ahead of time will not only help to determine your price but also serve as a tool to corroborate the price you set during negotiations.

Get a Comparative Market Analysis
Another excellent tool used by those in the real estate profession to help determine the right price range for your home is a Comparative Market Analysis. Your real estate agent will do an in-depth analysis of all the similar homes in your area that have recently sold. Considering the previous six months’ sold homes, they will end up at a price based on what the market will likely accept.

Accurately Priced Homes Sell Faster
It is not an easy feat to have a home on the market with all the showings, keeping the home in tip-top condition and presentable as well as the uncertainty factor of not knowing when the home will sell. That is why the more accurately you price your home to begin with, the faster it will sell and the more money you can expect to get for the home.

Keep in mind that buyers these days are usually already well into their buying cycle, particularly since they are using the Internet and other resources online to conduct thorough searches of available properties. Chances are that by the time they make it to your home, they have already looked at many other properties and probably any that were for sale in your neighborhood. These are the buyers that make offers on properties quickly and they are most serious.

To have a home that is overpriced is a missed opportunity especially if you are serious about selling and want to sell as quickly as possible. That is why it is critical to price it right the first time.

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If you would like to evaluate what your home would sell for in today’s market – contact us today and we would be glad to assist you with the process.

Friday, January 25, 2013

How to Gain Leverage Over Other Buyers in Today’s Competitive Buying Market



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For years now, buyers have been able to come in fairly low and actually get away with offers that sellers would never have accepted just a few years prior to that. But now, things are shifting back to a more balanced marketplace and we are noticing some big changes in the way buyers and sellers are interacting. Here are some ways you can gain the upper hand over other buyers vying for the same (few) properties that are scarcely available in our market today.

Don’t Hold Back When You Find Something You Like
A common mistake made by many buyers in a competitive market is to hold off on making an offer on something they really like. The chance of finding a home that meets every single need is next to impossible, that’s why it is important to recognize your deal breakers and if you like the home for the most part, go ahead and make an offer on it.

If You’re Serious, Present a Serious Offer – The First Time
Now is not the time to be playing games when it comes to trying to get the home of your dreams. With so few homes on the market and so many buyers, there is a good chance you could lose the home altogether if your offer is not strong enough. Carefully consider your offer and act as if that is your only chance.

Engage in the Services of a Local Expert
There is a lot of merit to working with a local real estate agent that knows the area and knows other agents in the area. At times, when all else fails, a seller may opt for your offer just because their agent also knows your agent. Not to mention, the expert advice you can expect from your REALTOR® in being able to recognize a good deal among other things.

Structure An Offer That Makes the Seller Happy
One of the strongest signs of a serious buyer is a large deposit. Though the standard varies from area to area, typically at least 1% is put toward earnest money and it shows some level of seriousness on the buyer’s part when they go above that.

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Other things you can do to make sure sellers pay more attention to your offer and less to others include writing a personal letter to share what you love about the home or be willing to waive contingencies or at least shorten contingencies. Savvy buyers also work to keep their offers simple, clean and easy to read plus they don’t hesitate to offer cash if they can do it, shortening the time period between now and closing.

If you don’t need closing cost assistance, don’t ask for it and finally – if you really love the property, do what works best – offer more money.

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Contact us today to find your perfect dream home!