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Uncategorized • November 11, 2021

ERA Justin Realty Collects Toys for Tots

by ERA Justin

ERA Justin Realty is again partnering with Toys for Tots to collect holiday gifts for children in need. Last year, ERA Real Estate offices across the country collected over 5,000 toys. This year they hope to double it.  

The campaign kicks off this week and continues through the Tuesday after Thanksgiving, which is known as #GivingTuesday. The final day for drop off is Friday, December 3.

“Toys for Tots helps families who may be struggling financially give children a gift of their own during the holidays,” said Ron Darby, Broker/Co-owner of ERA Justin Realty. “We’re so happy to participate in this terrific program for the third year in a row.” 

Established in 1947, Toys for Tots is the U.S. Marine Corps’ premiere community charity program. The non-profit has hundreds of local toy collection and distribution programs in all 50 states, plus Washington, D.C., Guam, The Virgin Islands and Puerto Rico. Every year, it distributes an average of 18 million toys to 7 million children in need.

“We have a long history of giving back to our local community,” added Jennifer Darby Metzger, Broker/Co-Owner. “We are excited to once again team up with our ERA colleagues around the country to ensure that every child experiences the joy of opening a gift this holiday season.”

Unwrapped gifts can be dropped off at ERA Justin’s office at 118 Jackson Avenue, Rutherford. A drop-off box will be available near the front desk. Donations are being accepted from Thursday, November 11 until Friday, December 3.

If you shop online, you can also help ERA’s Toys for Tots drive by purchasing toys through AmazonSmile.com and choosing Toys for Tots as the designated charity. A small portion of each purchase will be donated on behalf of Amazon directly to Toys for Tots at no additional cost. All purchases should be shipped to 118 Jackson Avenue, Rutherford, NJ 07070. Please shop early to ensure that all purchases are delivered to this location by December 3, 2021.

The entire team at ERA Justin Realty is thankful for your support and generosity this holiday season!

#GivingTuesdayERA

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Community Supportrd Agriculture • homeownership • Michelle Korosy • November 4, 2021

Real Estate Is More Than Selling Houses

by ERA Justin

A short time ago, Hurricane Ida swept through northern New Jersey flooding basements and destroying retaining walls. The outpouring of neighbors helping each other was quite wonderful. 

 

“In our town, we had people lending each other sump pumps, pool pumps, wet-dry vacs, and then actually setting them up and clearing each other’s basements.” says Michelle Korosy, Broker Associate at ERA Justin Realty. “I know it was the same across Southern Bergen County.” 

 

Real estate is about community and helping people. People move to a new home to “set down roots” and become part of something bigger than themselves. They seek neighbors, schools, houses of worship and more to feel connected to the community.   

 

There are always a range of factors that go into buying a home, such as budget, value and safety. Finding a neighborhood and community that fits with homeowners’ needs and goals is paramount for local real estate agents. The old adage of “Location, location, location!” always factors into more than the home, but the community where it resides. 

 

“As realtors in the communities we live in, we are committed to helping our neighbors,” adds Michelle. “When we’re helping people find their new homes, we help them consider the factors that will have the most meaning to them because as their neighbors, we appreciate all those things too.”

 

Realtors help new homeowners consider their needs﹘whether it’s their living needs, such as how many bedrooms and bathrooms, the size of the yard, the functionality of the kitchen and home office﹘or their lifestyle needs: the quality of the schools, the commute or parking situation, even whether the neighborhood is bike or pedestrian friendly. Real estate professionals help buyers aim for everything on the dream home list, and advise when compromises have to be made. 

 

“We always say ‘Love Where You Live’ and know it goes beyond the actual physical home,” adds Michelle. “We’re trying to help people find the community that makes them feel at home.” 

To become a part of our community, contact Michelle or any of our community of ERA Justin Realty agents at 201.939.7500 or visit our website for the latest homes www.erajustin.com.

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agent tips • Antonella Dinnino • evaluating offers • Home selling • real estate decisions • real estate negotiations • strong competition • October 21, 2021

Weighing Offers on Your Home

by ERA Justin

With historically low mortgage rates and limited housing inventory, it’s a seller’s market. The fall continues the trend and leaves buyers searching for homes. When do you consider other factors than just a buyer’s bid? Antonella Dininno, Sales Associate at ERA Justin Realty weighs in on how to weigh an offer.

Highest Offer

“Obviously, the best dollar offer will catch your eye,” says Antonella. “But sometimes, there are other factors, such as the buyers’ terms that can influence the decision.”

Conditions

Buyer A offers the highest amount for your home, but there’s just one condition, you have to move in 10 days. Or maybe she wants a 5% credit for closing costs. Buyer B offers slightly less than Buyer A and has no strings attached… Your real estate agent will help you calculate how each offer benefits you and ensure you get the best deal for your sale that meets your needs.

Contingencies

Contingencies are the clauses that find fault with the home or financing that let a potential buyer break the contract. If any of the following fall through, the deal is dead:
● Mortgage approval. Pre-approved buyers or cash offers will always have an advantage
when you’re weighing your offers.
● Home appraisal—if less than the valuation of the home, no deal.
● Home inspection. If significant defects are revealed, the buyer can bail.
● Clear Title. Owner must be able to prove they have the right to sell the property.
● Home sale. Buyer has to sell her own home before purchasing yours.

“Obviously, fewer contingencies or no-contingency offers will have an advantage for the seller,” adds Antonella. “A professional real estate agent will help you weigh each of these options when the offers roll in.”

Cash versus Financed

If a buyer is paying cash, the process of selling your home will move more quickly. When a buyer is financing through traditional means, there are more regulations. The buyer must be pre-approved and the lender can reject a mortgage application for various reasons. Also, if the appraised value comes back less than the asking price, lenders will not make up the gap; a cash buyer might, especially in a hot seller’s market. Real estate is complex because it involves the two major parties—the buyer and seller, and then all the related parties—mortgage lenders, appraisers, inspectors—that affect your home sale. The best way to simplify this process is to work with a real estate professional.

Call Antonella or any of the knowledgeable sales agents at ERA Justin Realty at 201-939-7500
to guide you through all the ways you can optimize the sale of your home.

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fall selling • krista ponti • October 14, 2021

Fall Home Selling Tips

by ERA Justin

Traditionally, the real estate market tends to slow down after Labor Day. This pattern appears more notable in neighborhoods with a significant student population and academic year enrollment. However, it is possible to attract buyers regardless of weather, and to take advantage of Mother Nature’s unique features of each season to highlight your home. Krista Ponti, Sales Associate of ERA Justin Realty, provides some tips for selling your home in the fall:

● Create curb appeal. Northern New Jersey is known for its brilliant foliage. Keep up with the landscaping to prevent your yard from being completely overshadowed by leaves in the windy autumn. Spruce up your porch and line the walkway with mums or other seasonal decor such as pumpkins or wreaths to create an inviting facade. Enhance, rather than distract, from the simple beauty and desirable aesthetics of your home.

● Weather proof and add value. Ask a professional to see if it’s time to replace an old hot water heater or furnace. Service your chimney and fireplace, ensuring they are ready to dazzle an eager buyer. Give your windows some upgrades and seal those sneaky drafts. Clear your gutters to prevent blocked drainage and maintain the details of a well kept home.

● Photos are a buyer’s first impression. Try to schedule exterior photos pre fall to capture your home when the plants are in bloom and the trees are full, or early fall to capture the foliage. Arrange the interior to avoid visual distractions. Declutter rooms and furniture, apply a fresh coat of paint, shine the floors or deep clean the carpets, and keep the home tidy for showings. Consider using a professional stager and moving some items to storage in order to prepare for photos, the sale, and your big move!

● Illuminate your home to highlight unique details. As the days become shorter, see that the house is optimally lit to display its most attractive features. Lighting not only strategically draws the eye in, but also makes for safer showings after dark. Outdoor solar lighting is a suggestion to keep energy costs low during the selling process.

● Price according to current market value. This is where your real estate agent is most valuable to selling your home. With market trends sometimes changing overnight, Krista as a trained real estate professional can provide you with the most recent data you need to make an informed decision to price your home right.

Call Krista Ponti or any of the sales agents at ERA Justin at 201-939-1500 for help selling your
home in any season.

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Investment • Investment real estate • lee schilare • Libera Lee Schilare • Libera Schilare • renters • October 11, 2021

Protecting Your Multi-Family Property

by ERA Justin

Multi-family properties present an income opportunity for owners. A knowledgeable real estate professional can help you purchase an ideal building as well as find tenants to live there. Be sure to protect your property before you rent it. Lee Schilare, Broker Associate at ERA Justin Realty, suggests landlords (especially new ones) take steps to protect themselves and their properties against personal liability before opening up their apartments to tenants.

 

Know the law. 

 

Consult a lawyer first to set up all you need regarding your property and your tenants, such as registering your rental units, drafting lease agreements and collecting security deposits. They may advise you to create an LLC, or limited liability corporation, or another type of business entity, to protect your assets.

 

“A bad tenant can ruin your property and your finances,” says Lee. “An accident or act of God could bankrupt you. This way, if a disaster occurs, a tenant can’t go after you personally, just the business assets.”

 

A lawyer will also advise on Tenant Law and your obligations as a landlord. For example, you must register rental units. There are some exceptions if they are owner-occupied. An experienced real estate professional can also guide you through what owners must do and guide you to resources, such as providing a copy of Truth in Renting to your tenants.

 

Get insurance. 

 

Consult an insurance broker. Your insurance policy should be tailored to multi-family properties, including: liability, property and crime. Liability will cover common areas such as swimming pools, hallways, laundry areas and parking lots. Property insurance covers damage to your buildings caused by floods, fires, hurricanes and other disasters. Crime insurance can reduce your losses due to vandalism, theft, fraud and more. Also, consider an umbrella insurance policy should you be subject to a lawsuit or exceed your coverage.

 

None of these types of insurance cover your renter’s belongings, so encourage them to get their own policy.

 

Rent the units. 

 

Work with a professional real estate agent to purchase your multi-family properties and investment properties, and then to rent them out so you can maximize your returns on your investment. An empty apartment pays no rent! Realtors will work with you to make sure you have tenants in your buildings.

 

For more expertise on purchasing or filling a multi-family property, please call Lee or any of the real estate professionals at ERA Justin Realty, 201-939-7500.

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COVID-19 • home office • kristen davis • October 5, 2021

Returning to Work? Keep the Home Office

by ERA Justin

After more than a year of remote work, many people are returning to their original, physical offices. What does this mean for their makeshift home offices?

 

Kristen Davis, a Realtor Associate at ERA Justin Realty, says, “Don’t remodel just yet. Or at least, remodel to optimize the home office.”

 

According to a recent Forbes article, the future of work will be dominated by remote and hybrid models. Zoom declares that “Hybrid work is now and for the future.”

 

The implications for real estate follow.

 

According to the Zoom survey, younger people who traditionally wanted to live in the city, nearer their jobs, didn’t require (or couldn’t afford) as much living space. They design their lives around going out and taking advantage of their city’s social and cultural life. When the pandemic came along, many of these young professionals were stuck in their apartments, working on Zoom (or other media), without so much as a chance to change the scenery by plugging in at a local coffee shop. There were fewer outside-the-home options during lockdown and even some wariness as the world returns to a new normal.

 

Remote work has created a push to get out of the cities. There was a surge in moving out into the suburbs and even outer exurbs. Relocators could look past the immediate commuter-friendly towns close to a city or work hub because they would not be going into their offices, at least not every day.

 

More space was sought on all levels, which created opportunities for those previously priced out of urban or traditional commuter markets. And for those who are permanently remote, new real estate markets mean the ability to purchase a starter home or have more space anywhere!

 

“No longer tethered to a commute to a central office, homeowners are moving where they want to go. As a result, residential real estate has seen a surge,” says Kristen. “Owners are seeking multi-functional space for home, work and play. They need that work station for themselves and even their kids.”

 

If you’re looking for better space for your new needs, please contact Kristen or any of our professional real estate agents at ERA Justin Realty 201-939-7500.

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ERA Justin Realty agent • HOA • Julia Dagistanli • real estate information • top agent • top agents • September 24, 2021

Buying and Homeowners Associations

by ERA Justin

When searching for a home, you may end up selecting a property with a Homeowners Association (HOA). Before you buy, know how an HOA works and what they mean for you. Julia Dagistanli, Sales Associate with ERA Justin Realty, provides an overview of what HOAs are and whether or not they are the type of property for you.

 

What is an HOA?

A Homeowners Association is a nonprofit organization, made up of a leadership team or board of directors that makes and enforces rules for multiple-unit buildings like condos, townhouses or planned communities of single-family homes.

 

If you buy a property with an HOA, you’ll be required to join its Homeowners Association. As a member, you agree to abide by the HOA’s rules and regulations and pay dues, known as HOA fees.

 

But all homeowners associations aren’t the same in services or cost. Julia says, “Fees can differ even within a development, due to variations in square footage, location and orientation, which can affect how much upkeep and maintenance the property requires.”

Condominium HOAs

A condominium is like an apartment you own. You own the interior of your property, but the HOA owns the exterior and all common areas.

 

Condo HOAs tend to have the most restrictive rules—covering everything from where you park to what color your window treatments can be, to whether or not (and what type) of holiday decorations you can display in your front windows or entryways.

Townhouse HOAs

Townhouse HOAs usually provide the same types of features and amenities that condo HOAs do, but they are typically not as restrictive. Because you also own the exterior of your townhouse, you have a little more control over what you can do with it.

 

Single-family residence HOAs

Single-family residence HOAs generally cover common areas such as neighborhood parks, green spaces, sidewalks and swimming pools. Homeowners are responsible for their own home and yard maintenance.

 

It’s important to know the type of HOA you are entering before committing. “Carefully read over the rules and understand the restrictions,” continues Julia. “You need to consider future implications such as outdoor decorations or whether or not you can own a pet.”

 

When you’re looking at a potential property to buy, it’s important to have an experienced professional who can help you understand the neighborhood’s HOA structure and fees. To help you find your next home, contact Julia or any one of our ERA Justin Realty Sales Associates at 201.939.7500.

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1st time homebuyer tips • Glenn Elliot • home affordability • home buyer tips • Home buying steps • home buying tips • What not to do when buying a home • September 14, 2021

Waiting to Close on Your Home? Don’t Do This!

by ERA Justin

Your offer is accepted and you’re so close to moving in! New homeowners need to avoid these actions that can delay or halt the process of closing on their new home.

 

Glenn Elliot, ERA Justin Realty Broker Associate, explains, “Buying a new home hinges on several key things falling into place: finding the right property, negotiating a price you can afford and securing the financing to pay for it. Many homebuyers successfully navigate all three criteria only to make some critical missteps prior to closing that can jeopardize the deal.”

 

Here are a few tips on what not to do while waiting to close on the home you are buying.

 

Don’t Apply for a Credit Card. Using your existing credit card for minor expenses will not affect most buyers, but opening a new one can absolutely delay closing. Refrain from saving that extra 10-15% off at a department store until after the closing.

 

Don’t Make Any Major New Purchases on Credit.  Excited as you are about moving into your new home and decorating, do not purchase major items, such a car or appliances. Wait until the deal closes before finding that new fridge.

 

Don’t Change Jobs. Some buyers change jobs without letting their lender know because they think that if it’s a better salary, it won’t matter. Wrong. Most lenders require 30 full days of paystubs, so changing jobs will delay closing until the 30-day paperwork is obtained. And in some cases, it can even kill the deal altogether.

 

Don’t Fall Behind on Any Payments. Nothing is more critical to your loan than your FICO score. It affects your rate, the loan program and the cost of any mortgage insurance. Make sure you continue paying any credit card bills regularly and stay current on car or other loans.

 

Don’t Move Money Without a Paper Trail. When a lender pre-approves you, the approval is based on the current state of your finances. You want to maintain that state and be transparent. Sometimes buyers shift their money around to better position themselves, but that’s a mistake. If a lender sees you moving money around various accounts, you will need to give them  a detailed accounting of why you moved it.

 

Very few buyers, especially first-time buyers, are housing market or mortgage interest experts. Working with trusted professionals, such as Glenn Elliot, can help you make the right decisions. To connect with Glenn, or any of our experienced Real Estate Agents, call 201.939.7500.

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As-is sale • Fara Espandi • sell a house • selling your home • August 27, 2021

Selling Your House “As Is”

by ERA Justin

Selling “as is” can make it easier for you to sell your home quickly and avoid the hassle of expensive repairs, but it does have some drawbacks.

 

“When a home is being sold ‘as is,’ the homeowner is selling the home in its current condition with no intention of making repairs or improvements before the sale,” says Fara Espandi, seasoned Sales Associate with ERA Justin Realty. “This can potentially save the seller time, effort and money. If you have inherited the home, you probably don’t know what repairs it actually needs. Selling ‘as is’ frees you from the worry of problems potential buyers may ask you to repair.”

 

Realistic Pricing

Once you have a realistic sense of how much repairs will cost, you can focus on pricing. A seasoned Realtor, such as Fara, can give you a good idea of the fair market value of your home if it were in good shape. By using this number in conjunction with the cost of repairs, you will be able to come up with a listing price that is attractive to both regular home buyers as well as investors.

 

Fill Out a Seller’s Disclosure 

Selling a home in as-is condition because of repair costs, however, does not relieve the seller of their responsibility to disclose any important information about the condition of the home. Any problems the seller knows about needs to be disclosed; and failing to do so could cause serious problems later down the road. A real estate agent will work with you on a seller’s disclosure document to outline any problems that exists with the home. This includes everything from previous water damage to foundation issues or boundary issues. In addition, any issues with hazardous materials like lead-based paint and asbestos need to be disclosed. If the buyer feels the seller was hiding material facts about the condition of the property, they could sue for damages.

 

Negotiation

Selling “as-is” does not mean the buyer can’t renegotiate the price, and as long as there is an inspection clause in the contract, the buyer can get out if the repairs are too costly. The buyer has three options after the inspection: 1) Close at the agreed-upon price; 2) Cancel the contract; or 3) Renegotiate with the seller for a lower price. The as-is seller can hold their ground and refuse to renegotiate the price or terms of the sale but this whole process can take weeks.

 

It can be difficult selling a home that needs significant repairs. Your best bet is to hire an experienced real estate professional, like Fara Espandi, to navigate you through this process. To reach Fara, or any of our experienced Sales Associates, call (201) 939-7500.

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Carol Calamari • Carol D. Calamari • FSBO • Home selling • Reasons to not sell by owner • August 17, 2021

Top 5 Reasons You Should Not FSBO

by ERA Justin

Many sellers consider the “For Sale By Owner” route, thinking it will save them money. However, seasoned ERA Justin Realty Sales Associate, Carol D. Calamari outlines why FSBO might not be a good idea for the vast majority of sellers.

 

1. Real Estate Is a Full-Time Job

Can you rush home when someone wants to see your home? Or excuse yourself from a meeting every time a potential buyer calls? Do you have a marketing plan?

 

An agent’s answer to all of these questions is “yes.” An agent has a marketing plan for maximum exposure to buyers—and provides a lockbox for your front door that allows other agents to show your home when you aren’t available.

 

2. Agents Have Access to Large Networks

Yes, you can list your home on various real estate sites, even the Multiple Listing Service (MLS) that agents use. But will that be enough? Even if you have a large personal or professional network, those people will not likely promote your house sale.

 

Agents have relationships with active home seekers and other agents to bring the largest pool of potential buyers to your home, which means more demand for your property, more competitive pricing and a shorter time to closing.

 

3. Too Many People to Negotiate With

An experienced real estate agent has specialized know-how in negotiating a home sale. Carol explains, “An experienced selling agent may have negotiated hundreds of home purchases and knows all the tricks or the warning signs of a nervous or disingenuous buyer.”

 

An agent helps you get the best selling price and also negotiates with the buyer’s agent, the buyer’s attorney, the home inspection company (who will almost always find some problems with the house) and the appraiser.

 

4. Exposure to Legal Risks

The required paperwork has increased dramatically as industry disclosures and regulations have become mandatory. One of the most important items is the seller’s disclosures. If a seller fails to disclose a hazard, nuisance or defect—and the buyer decides to sue after moving in and finding a problem, the seller can be held liable for fraud, negligence or breach of contract. This is one of the reasons that the percentage of people who sell as FSBO has dropped from 19% to 7% over the last 20+ years.

 

5. You May Not Net More Money Going It Alone

Many FSBO homeowners believe that they will save money by not paying a real estate commission, however, real estate agents are likely to get top dollar for your home.

 

“There’s no substitute for actual market knowledge an agent has when pricing,” Carol explains. “Those who try to sell their own homes tend to set a price based on an online assessment tool or what a neighbor says they were offered—two methods that will make the listing price way off. As a result, the home tends to sit longer on the market and buyers will likely pay a lower price.”

 

The Bottom Line

Selling your home FSBO may save fees, but hiring an agent has many advantages.

 

If you are interested in selling your home, contact Carol D. Calamari or any one of our Real Estate Professionals at ERA Justin Realty by calling (201) 939-7500.

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