buyerbuyersbuying a homedown paymentMargaret McLaughlinPeggy McLaughlinUncategorized February 16, 2023

Determining Your Down Payment

The down payment. It is one of the most daunting parts of home purchasing, especially for first time buyers. But, it doesn’t have to be. 

The traditional amount one should have set aside for a down payment is 20% of your home’s purchase price. Depending upon how much you’re looking to spend on a house, that can be a pretty considerable chunk of cash.

So how much should your down payment be? There is no “right” answer to that question. It depends on your financial situation, the type of mortgage you choose, and your own personal preferences. Here are some ways to help to figure out the figure.

Debt-to-Income Ratio

“The first thing to do is calculate your debt-to-income ratio,” says Peggy McLaughlin, Sales Associate at ERA Justin Realty. You do this by adding up how much you pay monthly to credit card bills, student loans, rent, car payments, etc. Divide that total with your pre-tax monthly income. This will give you your debt-to-income percentage. “The lower this percentage is, the more comfortable lenders will feel giving you a mortgage,” adds McLaughlin

Calculating your debt-to-income ratio will also tell you, and your lender,  how much house you can afford. Your lender will write you a pre-approval letter with the highest amount of a mortgage they are willing to give you.

How Much to Set Aside

“Now you have your target home price,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “With that you can calculate not only your down payment but how much you need for closing costs and other unforeseen expenses. There is always something!” Closing costs are usually between 3 to 6% of the balance of your loans. You will also want to make sure you have adequate funds in case something goes wrong in the move or if something breaks in your new house. You want to have enough to cover repairs.

Explore Loan Options

“There are plenty of different types of loans to choose from,” says McLaughlin, “Many do not require 20% down. Some are as low as 3%. Some require no down payment at all.” If you are a veteran, low income, or a first time buyer there are programs available to help you achieve your dream to become a homeowner.”

Weigh the pros and cons. There are advantages and disadvantages to putting down more or less. Peggy McLaughlin or any of the experienced agents at ERA Justin Realty can help find the solution that works the best for you. Give us a call at (201) 939-7500 to get started. 

equity increaseHome Improvement valuehome renovationslee schilareLibera Lee SchilareLibera Schilare February 9, 2023

Three Ways to Use Home Equity

If you’re a homeowner, odds are the equity in your home has grown substantially over the past few years. Home prices skyrocketed all around. 

“Even though home prices are starting to normalize, the average homeowner with a mortgage has around $300,000 in equity right now,” says Lee Schilare, Sales Associate at ERA Justin Realty, “That’s the average. Some have less, but some have more. Much more.”

So, what should homeowners do with all that equity? Let it sit and accrue until it is time to sell? Or put it to other uses?

“As you weigh your options,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin, “It’s important that you survey your assets and understand how to best leverage them. An experienced agent can help with that.”

Here are some things to consider.

Buy a Home That Fits Your Needs

“If you don’t have enough space, it might be time to use your equity to move to a larger home,” says Schilare, “Or if you no longer need as much as you have, it may be time to downsize and use your equity in other ways.”

Renovate Your Current Space

If the size of your current space suits your needs but could use some updating, and you would rather not move… you could consider renovating. 

More than a third of homeowners tap their equity to reinvest in their house. “Renovating helps you get top dollar down the road when it is time to sell,” says Darby Metzger, “Particularly kitchens and baths.”  

Pursue Personal Goals

Home Equity can not only help you achieve your dream home, it can help make other dreams come true, too. Whether it be a new business, traveling or higher education, the equity you have earned in your home can go a long way towards achieving personal goals. 

Bottom Line

Home equity can be a game changer when used wisely. A knowledgeable real estate agent can help assess your options. Give Lee Schilare or any of the agents at ERA Justin a call at (201)-939-7500.

Antonella DinninoCarol D. CalamariCatherine NimmoCathy VickCircle of excellenceDanielle SetteFara EspandiJennifer SullivanJessi DavidsonJessica DavidsonJulia Dagistanlilee schilareLibera Lee SchilareLibera SchilareMichelle KorosyRosemarie Zembryski February 2, 2023

Congratulations to our 2022 NJ REALTORS Ⓡ Circle of Excellence Winners

ERA Justin Realty Co. is proud to congratulate twelve of its agents for being named the New Jersey Association of Realtors (NJAR) 2022 Circle of Excellence Sales Award winners. NJAR recognizes top producing real estate members who have demonstrated excellence in the field of salesmanship.

 

“We are thrilled to once again celebrate an impressive number of winners from our family of agents,” boasts Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “Three Gold, three Silver and six Bronze. We are truly proud, particularly considering the ever changing landscape in real estate the past year.”

 

“These agents are dedicated to achieving their clients’ goals, whether that be home ownership for the first time, or selling their long-time home to the right buyer,” adds Metzger. ”Their service and dedication are what epitomize our values for over 60 plus years.

 

This year’s Gold Level Award winners are Fara Espandi, Libera “Lee” Schilare and Jennifer Sullivan. Silver Level Award winners are Carol D. Calamari, Julia Dagistanli, and Michelle Korosy. The Bronze Level Award winners are Jessica “Jessi” Davidson, Antonella Dininno, Catherine Nimmo, Danielle Sette, Catharine “Cathy” Vick and Rosemarie Zembryski.

 

In 2022, ERA Justin Realty Company’s highly professional and knowledgeable agents sold more than three times more homes in Rutherford than any other company, once again establishing itself as the #1 brokerage in Rutherford home sales for the 22nd  year in a row. ERA Justin Realty Company is also ranked #1 in closed units in the Southwest Bergen area which consists of Carlstadt, East Rutherford, Hasbrouck Heights, Little Ferry, Lyndhurst, Moonachie, North Arlington, Rutherford, South Hackensack, Teterboro, Wallington and Wood-Ridge based on NJMLS statistics for 1/1/2022-12/31/2022. 

 

“We are thrilled to be able to say we achieved this position in the marketplace once again,” Jennifer says, “It is our absolute honor to serve our community.”

 

If you would like to work with our award-winning team members for your real estate needs call 201.939.7500. We are conveniently located at  46 Chestnut Street and 57 Park Avenue, in Rutherford, NJ.



Carol CalamariCarol D. CalamariCatherine Nimmocatherine vickCathy VickCathy Vick Julia Dagistanli.Danielle SetteERA Justin AchieversERA Justin RealtyERA Justin Realty agentERA Justin Realty Leadership CircleERA Leadership CircleFara EspandiJennifer SulivanJennifer SullivanJessi DavidsonJessica DavidsonJulia Dagistanlilee schilareLibera Lee SchilareLibera SchilareRosemarie ZembryskiRosemary Zembryskitop agenttop agents January 26, 2023

ERA Justin Realty Celebrates 2022 Leaders Award Winners

Company is the top selling real estate brokerage in Rutherford, 22 Years Running

ERA Justin Realty, the top residential real estate brokerage in the Rutherford area, is proud to announce the winners of its Leaders Award for 2022. 

They are: Fara Espandi, Julia Dagistanli, Lee Schilare, Carol D. Calamari, Jennifer Sullivan, Cathy Vick, Rosemarie Zembryski, Danielle Sette, Jessica “Jessi” Davidson, Catherine Nimmo and Kaitlyn Baco.

ERA Justin’s Leaders Award is an internal program that recognizes those agents that consistently meet and exceed their goals and the company’s goals on a monthly basis.  

“We are extremely proud of these agents,” said Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “Not only do they lead the company in sales and volume numbers, but they also set an example with their dedication to customer service and service to our community.

The company celebrated a number of outstanding achievements in 2022. 

ERA Justin Realty is again the #1 top selling real estate office in Rutherford, for the 22nd year in a row. In 2022, ERA Justin closed on three times as many sales as any other real estate office in Rutherford.

ERA Justin is also #1 overall in the Southwest Bergen Area which includes Rutherford, East Rutherford, North Arlington, Lyndhurst, Wallington, Carlstadt, Hasbrouck Heights and Wood-Ridge.

Plus, according to the NJMLS,  an impressive six out of the top 10 agents in Rutherford are from ERA Justin, including its top selling agent of the year, Fara Espandi. Rounding out the list are Jennifer Sullivan (#3); Carol D. Calamari (#4); Joana Iliescu (#6); Julia Daglistanli (#8); and Michelle Korosy (#10).

Want to work with one of our award-winning team members for your real estate needs?  Call 201.939.7500. We are conveniently located at 46 Chestnut Street and 57 Park Avenue, in Rutherford, NJ.

The 2022 Leaders Award winners are (as pictured, left to right, standing): Cathy Vick, Rosemarie Zembryski, Kaitlyn Baco, Carol D. Calamari, Jennifer Sullivan, Danielle Sette, and (seated) Jessica Davidson, Julia Dagistanli, Lee Schilare, Fara Espandi, Catherine Nimmo.



Laura McCarthySelling a homewinter home sellingwinter selling January 12, 2023

Winter Home Selling Checklist

Selling a home in Winter isn’t the same as selling in Spring. You can’t just plant some new flowers or open the windows to let in a refreshing breeze and the sounds of chirping birds. 

 

But, there are several things you can do to make your home warm and welcoming in the colder months.

 

Here is a checklist:


Make It Inviting

  • Pull up all the blinds and open the curtains wide to let in sunshine.
  • Check all lightbulbs. Replace as needed.
  • Take down personal photos and items. “Allow homebuyers to imagine themselves in your home,” says Laura McCarthy, Sales Associate at ERA Justin Realty.
  • Fix anything broken.
  • Give rooms a clear purpose. “This could mean rearranging furniture. Invest in professional staging if necessary,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin.

 

Show You Care

  • Clean baseboards and vents thoroughly.
  • Vacuum, mop, and sweep floors.
  • Declutter everywhere. “A clear countertop goes a long way,” says McCarthy.
  • Organize cabinets & closets
  • Touch up any scuffs on the wall using paint or a Magic Eraser sponge.

 

Boost Curb Appeal

  • Powerwash outdoor surfaces.
  • Clean the windows inside & out.
  • Tidy up the landscaping. 
  • Sweep patios, decks & walkways.
  • Freshen up your entry with a new welcome mat.

Bottom Line

This list will get you started but a professional real estate expert will help you close the deal. Give Laura McCarthy or any of our agents a call at (201) 939-7500.



foreclosureforeclosureskristen davismarket analysismarket updateShort Sales January 5, 2023

Why There Isn’t A Flood of Foreclosures Coming

2022 saw big changes in the housing market, particularly in terms of borrowing money, but that doesn’t mean there is a crash coming.

“Thanks to record low interest rates over the pandemic years, homeowners could afford bigger mortgages to pay more than the asking price of a home,” says Kristen Davis, Sales Associate at ERA Justin Realty.

“Now that things are returning to normal, some are concerned we could see a repeat of the bubble burst of 2008,” says Jennifer Darby Metzer, Broker/Owner at ERA Justin, “But there are no signs of that.”

That’s because there are some key differences between what’s happening today versus the early 2000s. One difference is: there are far fewer foreclosures on the market today and real estate experts do not predict a flood of foreclosures coming.

In 2008, over 9 million households lost their homes due to foreclosure or short sale. This was because more relaxed lending standards allowed people to take out mortgages they ultimately could not afford. This led to a wave of distressed properties making their way to market, which caused home values to plummet.

But today, revised lending standards are leading to more qualified buyers. Therefore there are fewer homeowners behind on their mortgage payments. According to the Mortgage Bankers Association, mortgage delinquency is down to its lowest level since 1979.  

Forbearance programs from the height of the pandemic are also not causing any foreclosures today. “During the pandemic, many homeowners were able to pause payments due to unemployment or a downturn in pay,” says Davis. “There was fear that could cause a wave of new foreclosures. But that also has not materialized.” 

Foreclosures are currently at pre-pandemic numbers, and still far below 2008. Which brings us to another big difference: Equity. Homeowners today have more equity in their homes, which means they can afford to tap that money instead of giving up and foreclosing.

If you’re interested in buying but could use some guidance on the current state of the market, Kristen Davis or any of the experienced agents at ERA Justin can help. Give us a call at (201) 939-7500.



awardaward winnersFara Espanditop agenttop agentsTop producertop producerstop realtors December 29, 2022

Fara Espandi Named 2022 Top Agent at ERA Justin Realty 

Sales Associate Fara Espandi has been named Top Agent at ERA Justin Realty for the year 2022.

 

Espandi received the honor by both selling the most units and earning the highest volume in sales in the company this past year.

 

“I am so honored to be recognized for this,” said Espandi, “I would like to give big thanks to all of my buyers, sellers, landlords, friends and family who supported me and helped me achieve my goals this year.”

 

Espandi started her career in real estate 25 years ago in 1997. Fara has been a member of NJ Realtor Circle of Excellence since 2000.  She is also a lifetime member of the  New Jersey Association of Realtors’ Distinguished Sales Club.

 

“Fara is a ‘people person’ and it shows in how she helps her clients obtain their real estate goals and dreams,” said Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “It is this commitment to the community that helped her become the top producing agent at ERA Justin Realty in 2022.”

 

“Realtors don’t just sell homes. We hold your hand and help you mentally move on to the next phase of your life,” says Espandi. “It isn’t just selling real estate, I provide the tools and expertise to make an emotional transaction as easy as I can for my client. In the year ahead, I look forward to serving my clients and helping them through what can be a stressful but exhilarating time in their lives. ”

 

To see how Fara Espandi can help you with your real estate questions or needs, call us at 201.939.7500 or stop by our new location 46 Chestnut Street in Rutherford.

home buyer tipsKaitlyn Bacomortgagemortgage ratesrenters become buyersrenters to buyerswhy not own it December 22, 2022

Questions Homebuyers Should Ask Themselves

To buy? Or not to buy? You may be asking yourself those questions right now. 

But they aren’t the only questions you should be asking yourself when thinking about homeownership.

Consider these:

“Where do I think home prices are heading?”

While it is true that rising interest rates are bringing home prices down, the drop is actually the leveling off of an overheated market. And the downward trend is not expected to last.

“The majority of real estate experts are projecting home values will appreciate about 2% in 2023,” says Kaitlyn Baco, Sales Associate at ERA Justin Realty.  The Home Price Expectation Survey of more than 100 economists, real estate professionals, and investment and market strategists, backs this up. It predicts home prices will continue to increase up to 4% appreciation by the year 2026.

“Where do I think mortgage rates are heading?”

The average 30 year mortgage rate is over 7% now, and most lenders agree they could continue to rise over the next three months. “While mortgage rates are expected to continue to drift higher over the coming months,” says Mark Fleming, Chief Economist at First American “much of the rapid increase in rates is likely behind us.” 

And you don’t have to keep your interest rate high forever. “You marry the house, but date the rate!” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Unlike home prices, you’re not locked into a mortgage rate forever. When mortgage rates drop back down – which they always do – that’s when you swap out your mortgage and refinance a new one.” 

“Why not keep renting?”

Rents are also on the rise. 

“You never get your rent money back. Your landlord keeps it,” says Baco, “Whereas with a mortgage, a big chunk of your monthly payment goes to your principal, all money you make back when you sell.”

Bottom Line

Instability in the world and higher inflation are what’s driving the rising interest rates, but rates are cyclical. They won’t stay high forever. However, home prices are expected to grow. Which is why homeownership has long been a worthwhile investment. 

If you’re on the fence about whether to buy, talk out your options with an experienced real estate agent like Kaitlyn Baco by calling 201-935-7500.



Julia Dagistanlimortgagemortgage rates December 15, 2022

Four Things That Determine Mortgage Rates

If you’re looking to buy a home but are concerned about rising mortgage rates, hopes of homeownership are not lost! 

“Remember, the super low interest rates of a year ago were an anomaly,”says Julia Dagistanli, Sales Associate at ERA Justin Realty, “What we are seeing now is a return to normal.”

There are ways to combat today’s higher rates and lock in the lowest one you can. An experienced lender can help you find the best options. Here are a few factors to focus on:

Your Credit Score

Credit scores can play a big role in the amount of your mortgage rate. “Your score essentially tells lenders whether you can be trusted with their money,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “The higher your score, the safer it is to bet on your ability to pay your loan back. A lower interest rate could be your reward for always paying your credit card bills on time.” 

If you need help improving your score, a trusted financial advisor can advise you.

Your Loan Type

Mortgages are not one size fits all. There are various types, offering different terms for different buyers. 

“There are FHA loans for first time homebuyers. There are VA loans for veterans,” says Dagistanli. “Talk to your lender. You may be eligible for a special rate or a lower down payment.”

Your Loan Term

Another factor to consider is the term of your loan, which is how long you have to repay it in full. “A 30 year mortgage is the one you hear about the most,” says Darby Metzger, “But a 15, 20 or 25 year term may be better for you. Plus a shorter term could add up to less money paid in interest over the life of your loan.”

Your Down Payment

If you are a current homeowner looking to sell, you can use the equity you have in your current home to buy your next one.The more money you put down, the smaller your mortgage, the more you save in interest. “If you can put down more than 20%, a lender sees you as a safe bet,” says Dagistanli. “And you will usually get a lower interest rate.”

Bottom Line

Knowing what you can and can not control is key to obtaining the best mortgage rate. The best thing to do is have a team of professionals at your side. Contact Julia Dagistanli or any of the experienced agents at ERA Justin by calling 201-935-7500. 



Uncategorized December 1, 2022

Rutherford’s 70th Annual Holiday Parade Grand Marshal Ron Darby

The Rutherford Chamber of Commerce is sponsoring the 70th annual holiday parade this weekend and ERA Justin Company Broker Owner Ron Darby is honored to have been chosen Grand Marshal to celebrate this long standing Rutherford tradition.

Ron Darby started his career in the music business, recording some of the early works of Jimi Hendrix. He also managed the Rivoli Theater in Rutherford where he met the sweetest candy girl, Gloria. They married in 1967 and had 3 children, William, Jennifer, and Stephanie, all, who coincidentally, have also carved their careers in real estate.. 

Ron began his real estate career in 1967 with K Realty, overseeing two Rutherford offices as well as offices in Lyndhurst, North Arlington, and a location in South Jersey. Just a few years later, Ron partnered with Justin Tokarski, a former Rutherford Mayor, and a new era of Justin Realty ( a long standing company established in the 1950s ) was born. The successful duo cemented their home base in Rutherford at 300 Union Avenue and years later transformed an original Rutherford shopping complex into their home at 118 Jackson Ave. Justin Realty then joined the ERA Real Estate national franchise, and is now celebrating over three decades with ERA. 

After graduating from college, Ron’s daughter, Jennifer Darby Metzger, joined the family business as a real estate professional in 1997. After several years as an agent, Jennifer bought out the Tokarski family, making ERA Justin Realty truly family-owned. In the past thirty-five years, ERA Justin Realty has been listed as a ‘Top-100’ ERA firm worldwide, has been the recipient of the ‘ERA Commitment to Excellence’ award, a finalist in the prestigious Gene Francis Memorial Award and in 2019, Ron was inducted into the ERA Hall of Fame. His passion for real estate, community, and family have always been, and continue to be, his driving force. He has had the pleasure of being a leader and mentor to many. In regards to his work, Ron agrees that, “If you do what you love, you’ll never work a day in your life.” “That’s why after being in this business for over 55 years, I’m still ‘working’. It’s a part of life for me.” ERA Justin Realty has recently relocated and extensively renovated its new home at 46 Chestnut Street, Rutherford. The company has been a staple in the community for over 55

years and looks forward to being a part of it for many more to come.

Make sure to catch the parade this Saturday, November 26th, starting at 4PM at Union School, winding up in front of the library for the holiday tree lighting!!