In today’s real estate market, it can be hard to keep track of home prices. Up-to-the-minute  interest rate changes and fluctuating inventory levels can create both opportunities and challenges for buyers and sellers alike. “It can be hard to know when to make a move,” says Rosemarie Zembryski, Sales Associate at ERA Justin Realty, “Buyers might be wondering if they’re offering more than they should. Sellers might be concerned they’re not getting top dollar. This is why having a trusted real estate agent can make all the difference.”

For Sellers: Maximizing Profits 

“Home prices are cooling, but they’re not falling,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty. “Home price growth is slowing because they’re moderating from the abnormal highs the past few years. What we are seeing now is normalizing.” For sellers, a real estate agent familiar with your area can help price your home to sell in any market. “Pricing too high can lead to a stagnant listing, while pricing too low could mean leaving money on the table,” says Zembryski, “A knowledgeable agent can offer pricing strategies, staging advice, and marketing plans tailored to attract qualified buyers.”

For Buyers: Minimizing Mortgage Payments

“A limited number of homes coupled with higher interest rates has made it tough for first time homebuyers, but the good news is that’s changing,” says Metzger, “As mortgage rates drop, borrowing money literally becomes less expensive. This means you can borrow more for a smaller monthly payment. “This means you can afford more home, but in many areas you still have to act fast,” adds Zembryski. 

“Homebuyers should get pre-approved for a mortgage and come armed with a letter stating how much they can afford when they visit open houses,” says Metzger. “This shows sellers you are serious and ready to make a move.” A skilled real estate agent can help buyers find houses whose listings may not be widely available, negotiate favorable terms and avoid overpaying. “It’s this kind of inside knowledge that helps buyers achieve their real estate goals.”

Why Trust Matters

Whether buying or selling, trusting your real estate agent is paramount. “This is the person who is going to hold your hand as you navigate lawyers and contracts and closing costs,” says Zembryski, “Whether buying or selling, having an advocate who you trust can make all the difference.” If you’re ready to buy or sell, Rosemarie Zembryski or any of the agents at ERA Justin can help. Give us a call at (201) 939-7500.

Selecting the right real estate agent is critical when buying or selling a home. The right agent can make the process more efficient, and even more profitable. But with so many agents out there, how do you find the best one? Here are some tips to help you find a partner who will guide you successfully 

Check Their Reputation

“Start by asking your neighbors,” says Mary Iannaccone, Sales Associate at ERA Justin, “Gather recommendations from people you trust and narrow down your list based on their experiences.” An agent with a strong online presence and plenty of positive reviews is a good indicator of someone who consistently delivers excellent service. You should also look for an agent who specializes in the type of home you’re interested in. For example, if you’re looking for a historic home, find an agent experienced in that niche. 

Look for Local Market Expertise

“A great agent will be knowledgeable in both national trends and local market conditions,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin, “They’ll be able to clear up any misconceptions you might hear on the news and help you understand how your local market compares.” Their knowledge should shape the strategy they develop for your sale or purchase, ensuring it’s tailored to the current conditions in your area. Additionally, their familiarity with local neighborhoods and amenities can provide valuable insights that you might not find online.

Communication and Availability

“You need an agent who listens to your needs, answers your questions promptly, and keeps you informed every step of the way,” says Iannaccone.  You can meet with several agents in person before you make your decision. Interview them! This gives you a sense of their availability and lets you see how they communicate. If you prefer texting and need evening showings, make sure your agent is comfortable with that too.

Trust Your Gut

Trust your instincts.  “If you feel a strong connection or a lack of rapport with an agent, it’s important to listen to that feeling,” says Metzger. Choose someone you feel at ease with and who inspires confidence. 

Bottom Line

By following these tips, you can select a real estate agent who will make your buying or selling process as smooth as possible. If you’re ready to find the right partner for your real estate journey, Mary Iannaccone or any of the experienced agents at ERA Justin can help.  Give us a call at (201) 939-7500.

There is so much talk about mortgage rates and how a rate drop makes borrowing money payments lower. Shaving off a percentage or two may not seem like a big deal, but it can add up to thousands of dollars per year.

Let’s take a look at the numbers. 

The Impact of a 1% Drop

Let’s examine the savings based on a $400,000 loan. Suppose you have a 30-year fixed mortgage at an interest rate of 7.5%. The monthly payment (excluding taxes and insurance) would be approximately $2,797. 

If the interest rate drops by 1% to 6.5%, the new monthly payment would be around $2,528. That’s a reduction of $269 per month.

Over the course of a year, this amounts to a savings of $3,228. “That is a significant amount of money that could pay for a new fridge,” says Michelle Korosy, Sales Associate at ERA Justin Realty,  “Or a splurge on a fancy handbag.”

Over the entire 30-year period of the mortgage, the total savings would be about $96,840.

The Impact of a 2% Drop

If the interest rate drops by 2% from 7.5% to 5.5%, the monthly payment on a $400,000 loan will be around $2,271 (excluding taxes and insurance). This is a reduction of $526 a month! That adds up to $6,312 a year. 

“More than six thousand dollars makes the difference between going on a great vacation or staying home,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Over the life of your 30 year mortgage you’d save a whopping $189,360 dollars. Imagine how much that would grow invested in a retirement  fund instead!”

Bottom Line

The amount of monthly savings you will accrue depends on the specifics of your mortgage, such as the remaining balance, the term of the loan, and how many years you have left. “However, these examples illustrate what a 1-2% rate drop translates to in real money terms,” says Korosy, “Whether you use it for a second home or spend it on a Birkin bag is up to you!” 

If you are looking to assess the amount of equity in your home or estimate a monthly payment on a new home,  Michelle Korosy or any of the knowledgeable agents at ERA Justin can help. Give us a call at (201) 939-7500.

Selling your home this autumn? Staging with the season’s decor may help buyers fall in love with your house.

“Fall happens to be a fantastic time to market and sell your house,” says Laura McCarthy, Sales Associate at ERA Justin Realty, “If you have a fireplace, make it a focal point. Who doesn’t want to imagine themselves warming up by a crackling fire when the weather is crisp?”

Clean out your hearth, arrange some logs, and consider lighting a fire during open houses and showings, safely of course. 

No fireplace? No problem. Another surefire way to cozy up a home in autumn is to decorate a section of your home with candles, to add a warm flickering glow. “Bonus points if you have scented candles with hints of cinnamon or pumpkin,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Just make sure they’re not too pungent. Overwhelming smells of any kind can be a turn off.” Flameless LED candles are a safe and acceptable alternative if you’re concerned about open flames.

Spice up your space with seasonal decor. “Add an autumn wreath on the front door, arrange a few pumpkins and gourds on the front steps,” says McCarthy, “Inside, drape an extra throw blanket on the sofa. You want to make your home inviting, a place where buyers will want to put their feet up and relax.”

There is plenty of decor to work with in the fall months. Swap out lightweight summer linens and bedding for plush, textured blankets and pillows in rich browns and warm golds. 

“Proper lighting is a must during the fall months,” says Metzger, “Because the sun sets earlier, make sure your home is well-lit during showings. Open up all the curtains and blinds during the day, and use warm-toned LED light bulbs at night to create an inviting atmosphere.”

Finally, don’t forget your yard.  “Fall foliage can transform your outdoor space into an enchanting setting,” says McCarthy, “Just make sure your yard is maintained and looks well kept. Set up an outdoor seating area. Allow buyers to imagine themselves outdoors having their morning coffee or cocoa by an evening bonfire.”

If you are looking to take advantage of the fall season to sell your home, Laura McCarthy or any of the experienced agents at ERA Justin can help. Give us a call at (201)939-7500.

Rutherford’s annual town-wide yard sale is Saturday, September 21st. This means it is the ideal time to declutter!

“Whether you are looking to sell your house soon, or just get a handle on the overwhelm,” says Kristen Davis, Sales Associate at ERA Justin Realty, “An annual purge is great for the mind, body and soul.”

“We always recommend that our clients purge their homes before listing,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “Buyers want to be able to envision themselves in your space and they can’t do that if your clutter is everywhere. But on top of that, decluttering is good for a seller’s mental outlook. Out with the old, in with the new.”

Decluttering doesn’t mean your entire home needs to be immaculate immediately. It can be done in small steps. Some people start by removing one or two items a day.

“Don’t look at your house as a whole. Break it down room by room, surface by surface if you have to,” says Davis. Delegate different sections of the house to different family members. 

It is up to you to decide what stays and what goes. The best way to do this is to make three piles: Keep, Trash, and Sell/Donate. Start by going through your house with a garbage bag and focus on trash first. “This will make a noticeable dent in your clutter pretty much right away,” says Metzger. 

Next walk around with a laundry basket picking up things that are out of place and put them back where they belong. “Don’t put things away one at a time, unless you’re just looking to up your step count! Collect it all in a basket then go room to room.”

Your final pile is for things you want to sell. “The Rutherford town-wide yard sale is an ideal time to put out things you no longer want and make some money while you’re at it,” says Davis. “Just don’t bring things that don’t sell back into your house. Leave them on your porch and call a donation organization like the Vietnam Vets, who will come pick it up.”

Bottom Line

Decluttering is a great way to make room in your life for new things to enjoy, whether it be a new home, a new couch or a new neater outlook on life. If you would like help paring down, Kristen Davis or any of the agents at ERA Justin can help connect you with a professional organizer. Give us a call at (201) 939-7500 or email us at info@ERAJustin.com.

More good news for the homebuyers! Not only are mortgage rates lower, the number of houses on the market is higher!

“This is a win-win situation for anyone looking to buy a home right now,” says Julia Gulden Dagistanli, Sales Associate at ERA Justin Realty. “It means you’re more likely to find the house of your dreams for a monthly payment you can afford.”

According to Realtor.com there are nearly 37% more houses on the market compared to this same time last year. 

“If you gave up on your home search because there was so little to choose from,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “Now is the time to start looking again.”

One of the main reasons for this is: With more inventory comes more room for negotiation due to more choices. “Increased housing supply spells good news for consumers who want to see more properties before making purchasing decisions,” says Lawrence Yun, Chief Economist at the National Association of Realtors (NAR).

“This doesn’t mean there are too many houses on the market,” adds Dagistanli, “Which is good news for sellers. Prices are not expected to crash.” Despite so much growth in inventory, the number of homes on the market are still far below where they were in the pre-pandemic years. There are 29% fewer homes actively for sale now compared to 2017-2019.

“That’s to be expected,” says Metzger, “It is going to take a while for the country to get back to the typical number of homes for sale, but in the meantime any increase in inventory is a positive development.” While the most growth in the country is seen in the South and West, the Northeast is also rebounding with New Jersey seeing more homes added to the market month after month across the state.

“Real estate is always hyper local,” says Dagistanli, “It varies from town to town, state to state. The best way to find out if it’s the right time for you to buy or sell is by contacting a trusted local agent.”

Bottom Line

Mortgage rates are down and the number of houses for sale is up. This means homebuyers are much more likely to find exactly what they are looking for at a price they can afford. Inventory is increasing across northern New Jersey. If you’re ready to jump into house hunting, Julia Gulden Dagistanli or any of the agents at ERA Justin Realty can help. Give us a call at (201) 939-7500. 

Here’s something many buyers don’t know: When you buy a house you can negotiate much more than the price. Here are some other things you can haggle over to make sure you get the best deal possible.

Repairs

“Most real estate agents will make sure their clients make all cosmetic repairs before they list,” says Ilene Harpuder, Sales Associate at ERA Justin Realty, “But sometimes issues can be found during a home inspection.” In these cases, the buyer can either insist the seller fix the problem before closing or you can negotiate a repair credit. A repair credit reduces the sales price by an agreed-upon approximate price for the repair, allowing you to handle it yourself after closing.

Closing Costs

Closing costs can add up. From title insurance to appraisal fees and everything in between, closing costs usually tally up to about 2%  to 5 % of the home’s purchase price. “That doesn’t have to be all on you,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “It’s less likely during a competitive market, but if things are slow and a seller is in a hurry to move,  they could be inclined to agree to cover some of these fees in order to sell quickly.”

Appliances

“Sometimes appliances are included in the sale price, sometimes they’re not,” says Harpuder, “If there is a particular set of kitchen appliances that you love and want them included in the sale, you can negotiate a price for them.” On the flip side, if there is a particular appliance you want to keep while selling, that should be noted in the contract.”

Fixtures & Furniture

“Same goes with curtains, chandeliers and other home decor,” adds Metzger, “If there is something you like – maybe a couch or a dining room table –  bring it up prior to closing. You might find the seller is relieved they won’t have to move it!” Just know that the item you love may not even be the seller’s. Furniture and other items are often rented for staging prior to  listing a home on the market.

Bottom Line

Price is not the only negotiable factor in a home sale. From closing costs to furniture, there are many opportunities to sweeten the deal. An experienced real estate agent can help. Ilene Harpuder or any of the agents at ERA Justin are ready to jump in and negotiate for you. Give us a call at 201-939-7500.

Finally! Mortgage rates are starting to come down. 30 year fixed rate mortgages are finally in the mid 6% range and some 15 year mortgages even dropped below 6. This is the lowest mortgage interest rates have been in a year and buyers are jumping to lock in.

“This is great news for anyone looking to buy this summer,” says Lee Schilare, Sales Associate at ERA Justin Realty, “Their monthly payment will be less than if they bought in the spring.”

“This is also great news for someone who did buy at a higher rate,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “We are already starting to see people refinance. This is why we always say ‘marry the house and date the rate.’”

Many homebuyers put off their house search the past year as interest rates hovered close to 8%, a far cry from the abnormal 3% and lower of the pandemic years. 

“People who delayed buying because of the mortgage rate may have missed out on their dream home,” says Metzger, “High interest rates come and go. Loans can always be refinanced. However, the home you have your eye on will not be on the market forever.”  

The reduction in mortgage rates is a game-changer for homebuyers. “Real estate agents are already starting to see an uptick in viewings,” says Schilare. There is a good reason for that. Lower rates translate to smaller monthly payments, making homeownership more accessible to more people. “For some homebuyers, a lower interest rate – even if it’s half a point – can make the difference between buying a home or continuing to rent,” adds Schilare.

This is particularly true for first time homebuyers who were previously priced out of the market. More affordable interest rates are expected to drive a surge in home purchases. Homeowners whose house has lingered on the market will benefit too – and could even see multiple offers, some perhaps over the asking price, and quicker sales.

Bottom line: Watching interest rates finally decrease is increasing optimism in both the housing and mortgage industry.  Every little partial percentage point counts, and if they continue to drop, mortgage brokers predict refinancing will increase this fall and winter. When interest rates drop,  homeowners also have the option of cashing out on their current property to pay off debt or even purchase a second property.

If you’re interested in finding out what mortgage rates look like, contact Lee Schilare or any of the experienced agents at ERA Justin for up-to-the-minute information. Give us a call at (201) 939-7500 or drop us a note at ERAJustin.com.

Everyone keeps saying it’s a seller’s market. So you listed your home for sale. It’s been on the market for weeks, with no bites? Sound like a familiar scenario? You might just need to make a few small changes to see big results.

When it comes to selling a house, homeowners generally want three things: top dollar, a quick closing and the fewest hassles. (There are always some!) While today’s market is generally favorable toward sellers, there are some factors that could keep a house from selling. Here are some things to think about.

Limited Access

“If we can’t show your home, we can’t sell your home,” says Glenn Elliot, Sales Associate at ERA Justin Realty, “Access is key.” Are you putting limits on how often agents can show your home? Take a hard look at your schedule and see where you can free things up. “Motivated buyers may be traveling in from out of town to see houses, and if yours is not available to them, they won’t buy it,” adds Elliot. “Minimal access equals minimal exposure.”

Curb Appeal

“You always want to make a great first impression,” says Elliot, “And that starts with curb appeal.” How your home looks on the outside could make or break a buyer’s decision to book a showing. Sometimes all it takes is a little more upkeep. Pull the weeds. Keep the lawn mowed. Add a few colorful plants or flowers. A little can go a long way for curb appeal.

Staging

Remember you never get a second chance to make a first impression, and that goes for the inside of your home too. Stage your front hall. Put away all of your coats and shoes. Make that first glimpse of your home clean and inviting. You want buyers to be able to imagine themselves in your home as soon as they walk through the front door. 

Declutter

Don’t let it stop at the front door. If you’re having trouble selling, you may just need to declutter. Buyers have a hard time seeing how great the bones of your house are through mess. So clear away those piles of paper. Pack up all of your family photos. Less is more.

Priced Too High

We know you want top dollar. Everyone does. But is your sale price unrealistic? That could be why your home hasn’t sold yet. “It’s tempting to list high in a seller’s market,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “But the fact is if it’s overpriced it will sit on the market and if it sits too long that could deter buyers.” 

Bottom Line

There could be several reasons why your home isn’t selling. Fortunately the most common ones are easy fixes. An experienced real estate agent can help you identify your shortcomings and make sure your home is priced to sell. Glenn Elliot or any of the agents at ERA Justin Realty can help. Give us a call at 201-939-7500.

When selling your home, listing For Sale By Owner can be tempting. But after their home hits the market, many homeowners change their minds. 

“They often quickly realize how time consuming selling a home can be,” says Fara Espandi, Sales Associate at ERA Justin Realty, “It’s a full time job. That’s why we are here to help.”

Here are just a few reasons why enlisting a seasoned real estate agent can make the sale of your home run much more smoothly.

Navigating the Market – Keeping track of  the ups and downs of the real estate market can be complicated. “The market isn’t straightforward these days. Between inventory, housing prices and mortgage rates, it’s hard for a homeowner to price their home correctly,” says ERA Justin Realty Broker/Owner Jennifer Darby Metzger, “A trusted real estate agent at your side can get you to closing quicker and cleaner.”

Contracts – “Buying a home involves a lot of legalese. That’s why we use lawyers in the state of New Jersey for all home sales,” says Espandi. “We refer our clients to lawyers we have built relationships with in our years of experience. Plus, what you may be reading for the first time, we have read repeatedly. We can help translate what key terms of the contract mean for you.”

Negotiations – Real estate agents act as a buffer in negotiations between the parties and advocate for your best interests throughout the entire transaction. “It’s smoother when buyers and sellers themselves aren’t involved in negotiations,” says Metzger, “Whether we realize it or not, emotions can get in the way when you’re negotiating a price for your long-time home or dream home.”

Pricing – Asking prices and offers are a critical component in real estate transactions. It is the job of an agent to be on top of the latest market conditions and comparable sales. Their expert advice on pricing will help you set a realistic asking price or offer, giving you the best chance of successful sale.

Location, Location, Location – “Something you often hear in real estate is location, location, location,” says Espandi,  “That’s true for both the house and the agent listing it. You want someone who is extremely familiar with your specific area.”

ERA Justin has been the top ranking real estate agency in Rutherford for the past 23 years. We are here to help you achieve all of your real estate goals. Give us a call at (201) 939-7500 or send us a message by visiting ERAJustin.com.