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agent tips • Mary Iannaccone • sell a house • sell your home • seller • sellers • Selling • selling your home • June 2, 2022

Sellers Win When Inventory Is Low

by ERA Justin

In today’s housing market, there are more buyers than there are homes for sale. This gives sellers a significant advantage. Here’s why you will have the upper hand if you sell this season:

Higher Prices

“Homebuyers are frequently getting into bidding wars,” says Mary Iannaccone, Sales Associate at ERA Justin Realty, “and that’s really driving prices up.” According to the National Association of Realtors (NAR), homes are receiving an average of 3.7 offers in today’s market. As a seller, this works to your advantage, potentially netting you more for your house when you close the deal.

 Greater Return on Your Investment

Rising prices mean homes are also gaining value, which increases the equity you have in your home. According to CoreLogic’s Homeowner Equity Insights Report the average homeowner gained approximately $51,500 between the 2nd quarter of 2020 and the 2nd quarter of 2021.  “This means if you sell now you will have more money to put down as a down payment on your next house,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “Or you can bank it and borrow more at a low interest rate.”

 Better Terms

In a sellers’ market like we have today, you’re in the driver’s seat if you make a move. You have the power to sell on your terms, and buyers are more likely to work with you if it means they can finally land their dream home.

 So, is low housing inventory a big deal?

Yes, especially if you want to sell on your terms. Moving now while inventory is so low is key to maximizing your opportunities.

If you’re interested in taking advantage of the current sellers’ market, call Mary Iannaccone or any of the agents at ERA Justin at 201-939-7500 to determine your best move.

 

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Quick Tips To Sell Your House Fast  

by ERA Justin

Looking to sell your home fast? Here are some tips to help you get your home ready to sell quickly… and earn top dollar, too.

Declutter. Get rid of anything you don’t need. “A messy house can lead to lower offers,” says Peggy McLaughlin, Sales Associate at ERA Justin Realty. “That’s why it’s so important to declutter first.” Clear all clutter off all surfaces and organize storage areas. Sell or donate any unneeded items.

Clean. You will need to deep clean everything from the kitchen counters to window sills and baseboards to the inside of your closets. “A clean home shows buyers the house has been well cared-for,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty. Hire a professional if necessary.

Make the house impersonal. Take down your family photos. Buyers need to imagine themselves in your house, not you. “Buyers are turned off by houses that are too personalized,” says McLaughlin. “So, it’s also a good idea to pack up anything that might be considered polarizing: unusual artwork, religious icons, or any political statements.”

Repairs. Take care of any obvious repairs before you list. “Why would anyone want to buy a house with a leaking roof?” asks Darby Metzger. “This goes for the little things you’ve been putting off, too. Taking care of them will make the difference between a good offer and a disappointing one.”

Curb appeal. First impressions matter. That’s why curb appeal is so important. “Make the first sight of your house count by freshening up the paint and landscaping,” says McLaughlin. “Make it look inviting.”

Always be available for viewings. If a potential buyer wants to see your house on short notice, make it happen. “Missing a showing could mean missing out on a sale,” says Darby Metzger.

Hire a real estate agent.

“The fact of the matter is, a real estate agent will sell your home faster and at a higher price than if you try going it alone,” says McLaughlin. “Use their knowledge to your advantage.”

Local agents know your area’s market trends. To find out what’s selling and what’s not, call Peggy McLaughlin or any of ERA Justin Realty’s sales associates at 201-939-7500.

 

 

 

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agent tips Sellers Win When Inventory Is Low In today’s housing market, there are more buyers than there are homes for sale. This gives sellers a significant advantage. Here’s why you will have the upper hand if you sell this season: Higher Prices “Homebuyers are frequently getting into bidding wars,” says Mary Iannaccone, Sales Associate at ERA Justin Realty, “and that’s really driving […]
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Tips for Solo Homebuyers

by ERA Justin

If you’re living on your own and looking to buy a home, know that you can make your dream a reality with thoughtful planning and the right team of experts.  

“The number of sole-person households has nearly doubled the past 40 years,” says Libera “Lee” Schilare, Sales Associate at ERA Justin Realty, “and that’s expected to continue as more and more young people are buying homes on their own.” Here are some tips for solo buyers.

Credit Score  

“To qualify for a loan, lenders will look at just one credit score. Yours,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “So it needs to be in great shape.” Meet with a lender to find out how much you can afford and get pre-approved for a loan before you start going to open houses.”

Down Payment Options

“Despite common belief, you do not need to put 20% down to buy a house,” says Schilare, “That’s a myth. Few people put 20% down anymore, especially younger first-time homebuyers.” Your real estate agent or mortgage lender will work with your budget or see if you’re eligible for down payment assistance programs.

Budget

“Start monitoring how much you spend on what and create a monthly budget,” says Darby Metzger, “A professional real estate agent can help you determine what type of home is best for you based on how much you can budget for housing.”

Daydream

“Take some time to daydream about your future home. Where is it? What does it look like? What do you need out of it?” says Schilare. “Is being close to work important? How about your hobbies? Do you need a home office or extra guest bedroom? What about space for entertaining?  Really take the time to think about your lifestyle and how your home will enhance it.”

Go For It

“Buying a home solo can feel like a big challenge, but it doesn’t have to be,” says Darby Metzger, “Lean on the professionals. They will make sure you’re taking advantage of all the great opportunities in today’s market, like low mortgage rates, and buy your dream home.”

If you’re looking to buy a home on your own, be confident that the dream is achievable. Contact Lee Schilare or any agent at ERA Justin Realty by calling 201-939-7500.

 

 

 

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Laura McCarthy Joins ERA Justin Realty’s Family of Real Estate Professionals

by ERA Justin

ERA Justin Realty is thrilled to announce that our exceptional community of agents is growing with the addition of new Sales Associate Laura McCarthy. Laura is a lifelong resident of Bergen County. She was raised in Rutherford and attended Rutherford public schools, as did her four children, Chris, Jack, Caroline, and Katie.

Laura has long been familiar with ERA Justin Realty and is honored to join the team. “I chose to join ERA Justin Realty,” says Laura, “because of its reputation as a respected, knowledgeable, and friendly team.” Laura fits right in, priding herself on her honesty, integrity and role in the community as an upstanding citizen. She is a member of the Rutherford High School PTA and a parishioner at St. Mary’s Church. She is also a volunteer with the Girls Scouts and the Cystic Fibrosis Foundation.

Laura’s background is in business. She is a graduate of Rutgers College and Rutgers University’s School of Business. Before turning to real estate, Laura spent 20 years working in client services. Laura’s business and service skills will come in handy while helping home sellers and buyers complete their transactions.

“My clients’ needs and best interests are at the heart of everything I do,” says Laura.

“We are thrilled to welcome Laura to the ERA Justin family,” says Jennifer Darby Metzger, Broker/Co-Owner of ERA Justin Realty, “Her knowledge of the Rutherford area and schools is invaluable to both new families looking to settle in town and empty nesters looking to hand over their longtime homes to a new generation.”

While not showing houses, Laura is most often found spending time with her family, gardening, working out and cheering on the Rutherford Bulldogs.

If you are looking for a motivated, self-starting agent with longtime roots in the Rutherford area, contact Laura or any of our experienced real estate professionals at ERA Justin by calling 201.939.7500.

 

 

 

 

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Getting a Mortgage: What NOT To Do

by ERA Justin

For most homebuyers, getting approved for a mortgage is key to buying a house. Many don’t realize they could jeopardize that by making a simple mistake.

Here are some things you should never do while applying for a mortgage:

Don’t Close Credit Cards

Many buyers think having less credit makes them look less risky. The opposite is true. Your credit score is based on the length and depth of your credit history. “So don’t close any credit cards,” says Kristen Davis, Sales Associate at ERA Justin Realty, “Having lines of credit you don’t use actually makes you look better to lenders.”

Don’t Open Credit Cards

Every time you apply for a credit card your credit report is run by the issuing company and your credit score is impacted. A lower score could mean a higher mortgage rate or even denial of a loan.

Don’t Change Bank Accounts

Lenders need to source and track your assets. Make it easier for them by keeping your current accounts until your mortgage is finalized. If you need to transfer money, speak with your loan officer first.

Don’t Co-Sign for Anyone

Don’t co-sign any loans for anyone while you’re in the middle of mortgage approval. It will affect your debt-to-income ratio. “Even if you won’t be the one making the payments,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “Your lender will still have to count the payments against you.”

Don’t Make Any Big Purchases

Just like co-signing, buying a new car will create a higher debt-to-income ratio, making you riskier to lenders. “Hold off on any big purchases that will require a loan,” says Davis, “Sometimes even small loans can make borrowers no longer qualified for their mortgage.”

Don’t Make Large Cash Deposits     

Lenders need to source your money, and large cash deposits can set off red flags. If you need to put a lot of cash into the bank, speak with your loan officer to discuss the proper way to document your transaction.

Bottom Line

What you do after applying for a mortgage is just as important as before you apply. Kristen Davis or any of the agents at ERA Justin can help you make sure to make all the right moves. Contact us by calling 201-939-7500.

 

 

 

 

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Why Spring 2022 is the Time to Buy

by ERA Justin

Are you thinking of buying a home? If so, Spring is traditionally a great time to make your purchase. It’s when most sellers decide to list. This Spring, inventory is increasing like usual, but you still need to be prepared to act fast. Here’s why:

 More Home Listings, But Still More Buyers

With more active buyers in the market than there are houses for sale, the homebuying process may take more time and effort than usual. “If you begin your search now,” says Kaitlyn Baco, Sales Agent at ERA Justin Realty, “and work with a knowledgeable agent, you’ll be ready to make a good offer when your dream home hits the market.”

Home Prices and Mortgage Rates Are Climbing

Competition due to supply and demand is still driving up house prices, but it’s not expected to be as steep as last year. “Home prices are still going up,” says Jennifer Darby Metzger Broker/Owner of ERA Justin Realty, “but more slowly. Mortgage rates are climbing too, so if you want to buy a house it’s going to cost more the longer you wait.”

Rents Are Rising

Mortgage rates and home prices aren’t the only things on the rise. Rents are rising, too. Census data shows the average monthly rent goes up year after year. “That money is paying the landlord’s mortgage,” says Baco, “By buying yourself, you lock in a set mortgage payment, month after month, year after year. That’s saving you a lot of money in rent increases.”

Homeownership Has Many Perks

Homeownership is the American dream not just because of the financial benefits, but because of the power it has to change lives. Homeownership provides a sense of security and stability, which was particularly important to many people over the past two years. If the pandemic has changed your perspective, homeownership may deliver the perks you want, financially and emotionally.

 If you’re looking to buy a home this Spring, start looking sooner rather than later. Contact Kaitlyn Baco or any of the trusted agents at ERA Justin Realty by calling (201) 939-7500.

 

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ERA Justin Announces Q1 Leaders Winners 

by ERA Justin

ERA Justin Realty Co is proud to announce its 2022 Leaders Award winners for the first quarter of the year. The winners are: Libera “Lee” Schilare, Fara Espandi, Cathy Vick, Carol D. Calamari and Jennifer Sullivan.

 

“This market is hot. But, that doesn’t mean houses are selling themselves,” said Jennifer Darby Metzger, broker and co-owner of ERA Justin Realty Company. “Competition is fierce and these agents stayed on top of their game.”

 

The ERA Justin Leaders Award recognizes agents who meet and exceed their goals and the company’s goals on a monthly basis. 

 

“These agents stood out because even in the face of ongoing bidding wars they managed to connect with their clients and made their home purchase or sale more than just a financial transaction,” says Darby Metzger. “They keep in mind that whether it’s buying that new home or downsizing as an empty nester, real estate represents changes in someone’s life. Our agents recognize that and work with their clients to address the greater concerns,” adds Darby Metzger. 

 

ERA Justin is a leader in Southern Bergen County residential real estate. With more than 30 trained and experienced real estate professionals going beyond expectations to meet their clients’ needs, ERA Justin is the ideal spot to begin a location transition. To reach any of ERA Justin’s real estate professionals, call 201-939-7500 or visit their 118 Jackson Avenue or 57 Park Avenue locations, both in Rutherford, New Jersey. Visit www.erajustin.com to see current listings.

 

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Tips to Beat the Competition

by ERA Justin

Making an offer on your dream home can be nerve wracking, particularly in a seller’s market when there are buyers than homes for sale. Here are some tips to help stay ahead of the game and beat the competition:

Know Your Budget

Knowing what you can afford is critical to your success in obtaining the winning bid. “The best way to know what you can afford is to get pre-approved with a lender,” says Julia Dagistanli, Sales Associate at ERA Justin Realty, “it keeps you from looking at houses out of your range and shows sellers that you are a serious buyer.”

Use a Professional

Working with a real estate agent familiar with your desired location can make the difference between winning or losing a bid. “Agents are experts in your local market,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “Chances are they know the seller’s agent and can work for a win/win situation for everyone.”

Be Ready to Move Fast

Houses are selling quickly, so buyers need to be ready to act fast. “Nationwide the majority of houses are selling in less than a month, and often in just a few days,” says Dagistanli, “Your agent can help you put together your best offer fast, so you can submit as soon as you find a home.”

Be Flexible, But Careful

In obtaining the winning bid, it helps to be flexible on contract contingencies but don’t go too far. “Resist the temptation to waive an inspection just to win a bid,” says Darby Metzger, “Buying ‘as-is’ could leave you with a house you can’t afford to fix.”

Be Strong, But Fair

According to the National Association of Realtors latest Realtors Confidence Index, 40% of offers today are above the list price. “Emotions and prices can run high in a seller’s market,” says Dagistanli, “having an agent on your side can help you stand out by making a strong but fair offer.”

Bottom Line

 Today’s competitive market means it is more important than ever to use a trusted real estate agent to help you stand out from the crowd. If you’re ready to buy contact Julia Dagistanli or any of the agents at ERA Justin Realty by calling 201-939-7500.

 

 

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What’s Next for 2022?

by ERA Justin

As the real estate market springs back to life this season, both buyers and sellers are wondering what’s next for 2022. Will Spring 2022 be as hot as Spring 2021?

There are several factors to consider. Here is a look at what to expect:

More Inventory

         A growing number of people are expected to list their homes for sale in the coming months, so we could see fewer homes with multiple offers. “More inventory on the market means there is less of a chance of a bidding war,” says Joana Iliescu, Sales Associate at ERA Justin Realty, “this will take some of the pressure off and give buyers more options.”

Rising Prices

         More housing inventory doesn’t necessarily mean lower prices in 2022. “Home prices are going to continue to go up,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “but they’re expected to rise at a slower pace than last year.”

Mortgage Rates

         Interest rates are expected to rise to 3.7% over the course of 2022. “That’s higher than it was last year, but still historically low,” says Iliescu. In contrast, mortgage rates were well into the double digits in the 70s and 80s.

Remote Work

         Extra space to work from home is still at the top of many homebuyers’ wish lists thanks to the coronavirus pandemic. “Searching for a home with office space can often mean a homebuyer is willing to live farther away from their workplace,” says Darby Metzger.

Millennial Buyers

         Bigger search areas can mean younger buyers may be able to afford their first homes sooner than if they stayed closer to big cities. “45 million millennials are now between the ages of 26 and 35,” says Iliescu. “That’s prime homebuying time.”

Seller’s Market

         This strong demographic demand from millennials is expected to continue to fuel the market. “Make no mistake,” says Darby Metzger. “It’s still a seller’s market. There is just more room for negotiation than last year.”

2022 Forecast

         Bottom line: If you’re thinking of buying or selling, the time to act is now. Contact Joana Iliescu or any of the agents at ERA Justin Realty at 201-939-7500.

 

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Selling Your Home in a Hot Market

by ERA Justin

When the real estate market is hot, things can move fast from listing to closing. Here’s how sellers can prepare.

Get Your Paperwork in Order

“Properties tend to sell quickly in a hot market,” says Jennifer Zenquis, Sales Associate at ERA Justin Realty, “Sellers need to be prepared with all their documents and disclosures before the house is on the market.” Having your paperwork ready will make a buyer feel confident making a quick closing offer.

Get Your Home Ready to Show

Consider hiring an inspector to uncover any surprises. A seller in a hot market has a better chance of selling a home “as-is,” but it’s best to be aware of any issues and evaluate fixing them before listing. Thoroughly declutter and clean, and don’t forget to stage. “Staging is probably the number one way to distinguish your house above the rest,” says Jennifer Metzger Darby, Owner/Broker at ERA Justin Realty.

Hire a Realtor

Many homeowners consider selling by owner in a hot market. They figure if inventory is low, there is no need. But the opposite is true. Buyers are more likely to use an agent when inventory is low. You will need your own agent to handle multiple offers in the case of a bidding war and get you the best deal possible.

Act Fast

Be ready to review all offers and respond within 24 hours. If you plan to counteroffer, do so in a timely manner. It’s not uncommon for the negotiation process to take less than 48 hours in a hot market.

Be Prepared to Move Quickly

Hot markets tend to see more all-cash transactions. If you accept an all-cash offer, be prepared to pack up and move quickly. If your buyer doesn’t need a loan, you will likely close in a short amount of time. Line up a rental if you have not found your new home yet.

Be Cautiously Optimistic

Just because the market is hot doesn’t mean you’re guaranteed multiple offers over asking. But it’s possible! If you’re considering selling, contact Jennifer Zenquis or any of the agents at ERA Justin Realty by calling 201-939-7500.

 

 

 

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Laura McCarthy 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. […]
housing market Why Are People Moving Today? Whether it’s your first time – or what you hope will be your last – buying a home is a major life decision. Current market conditions could be weighing heavily on your decision. If you’re planning a move, here’s what today’s shifting market could mean for you. Mortgage rates are higher than they were at […]
housing market Millennials: Is It Time to Buy a Bigger Home? Are you a millennial who already owns a home? If so, it may be time to trade up. After all the home price increases of 2020, 2021, and so far in 2022, you could have more equity in your home than you think.    Housing Prices High house prices mean it’s high time to sell. […]
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