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.

When it comes to selling your  home, the asking price is one of the most important factors to consider. It can determine how long your home stays on the market, how many offers you receive, and ultimately, how much money you get for your property. Just ask Danielle Sette and Jessica Davidson of Team Sette/Davidson at ERA Justin Realty. “It’s like Goldilocks and the Three Bears,” says Sette, “It can’t be too high, it can’t be too low. It has to be just right.” 

Sets the Tone

Your asking price sets the tone for negotiations. If you price your home too high, buyers may be scared away or may not even bother to make an offer. If you price your home too low,  you could be leaving money on the table.

Time on the Market

How long your home is listed makes a difference. “A home that is priced too high is likely to sit on the market longer,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin, “That could make buyers think there’s something wrong with the property.” Whether that’s true or not, that assumption can make it harder to sell your home and could lead to a lower selling price.

Offers

The asking price can impact the number of offers you receive. A competitively priced home will attract more buyers and generate more offers. This can give you more leverage during negotiations and may help you get a higher selling price.

Closing Price

Finally, your initial asking price can affect how much you get at closing. “If you price too high, you may not get any offers at all. And if you do, they’re likely to be lower,” says Davidson,  “And if you price too low from the start, you will probably get even lower offers.”

Bottom Line

How do you determine the right asking price for your home? There are a number of factors to consider, including your home’s location, the condition of the property, and recent sales of comparable properties in your area. 

Experienced real estate agents like Danielle Sette and Jessica Davidson or any of the knowledgeable agents at ERA Justin Realty can help make sure your asking price is just right. Give us a call at (201) 939-7500.

ERA Justin Realty Co is proud to announce its 2024 Leaders for the second quarter of the year. The winners are: Lee Schilare, Fara Espandi, Julia Dagistanli, Cathy Vick, Alexa Micciulli, and Carol D. Calamari.

 “This market is red hot again. But, that doesn’t mean houses are selling themselves,” said Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty Company. “Competition is fierce and these agents stayed on top of their game to serve their clients.”

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

“These agents stand out because even in the face of ongoing low inventory and bidding wars they connect with their clients to make their home purchases or sales 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 honor that responsibility,” adds Darby Metzger. 

ERA Justin Realty is again the #1 top selling real estate office in Rutherford, for the 23rd year in a row. In 2023, ERA Justin closed more than three times as many sales as any other 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 and has been for more than 8 years.

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. Visit www.erajustin.com to see current listings.

Perhaps you have heard that home prices are dropping. Despite this headline, single-family home prices are still up 6.6% nationwide since last year. So, what’s going on?

“The answer lies in the difference between the asking price and the sold price,” says Cathy Vick, Sales Associate at ERA Justin Realty, “While more sellers are adjusting their asking price, that’s a signal of moderating demand – not falling home values. This is great news for buyers.”

Here’s what you need to know:

The asking price is a starting point. “When sellers list their homes, they sometimes set the asking price higher than what they’re willing to accept,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin, “This gives them – and you – room to negotiate.” 

The sold price is the actual price that the home sells for. The sold price is usually lower than the asking price, as buyers typically negotiate for a lower price. This hasn’t been the case in recent years in a low inventory, tight market,” says Vick, “But the real estate market always ebbs and flows.”

When negotiating a lower price, the difference between the asking price and the sold price is called the “wiggle room.” This wiggle room gives buyers some flexibility to negotiate for a lower price without having to worry about the seller walking away from the deal.

“The amount of wiggle room can vary depending on the market,” says Metzger, “In a hot seller’s market, homeowners may have less wiggle room, as they can afford to be more selective about buyers. In a buyer’s market, buyers may have more wiggle room, as sellers are more motivated to sell.”

So, what does this mean for homebuyers?

If you’re in the market for a home, it’s important to be prepared to negotiate. This means doing your research, understanding the market, being realistic about your budget with a strong pre-approval from a mortgage lender ready to go. With a little preparation room for negotiation, you will find a home that you love at a price that you can afford. Cathy Vick or any of the agents at ERA Justin can help. Give us a call at (201) 939-7500.

Owning a home is a major financial milestone for many people. But beyond the financial benefits, there are also a number of emotional benefits to owning a home.

Stability and Security

“One of the most important emotional benefits of home ownership is stability and security,” says Catherine Nimmo, Sales Associate at ERA Justin Realty, “When you own a home, you have a place to live that is your own. You don’t have to worry about being evicted or having your rent raised. This can give you a sense of peace and security that is difficult to find in other living arrangements.

Sense of Accomplishment

Buying a home is a major accomplishment. It represents years of hard work and saving. When you finally close on your home, you will feel a sense of pride and accomplishment that is unlike anything else.

Control Over Your Living Space

When you own a home, you have complete control over your living space. “You can decorate it however you want, and you can make changes to it whenever you want,” says ERA Justin Broker/Owner Jennifer Darby Metzger, “You get a sense of freedom and independence that’s not possible when you rent.”

A Sense of Community

When you own a home, you become part of a community. You get to know your neighbors, and you can participate in community activities. This can help you to feel connected to your community and to build lasting relationships.

Stronger Relationships

Owning a home can also strengthen your relationships with your family and friends. “When you own a home,” says Nimmo, “You have a place to gather with loved ones and create lasting memories.”

A Legacy for Your Family

“Having a place to create those family memories may be the most rewarding emotional benefit of them all,” says Metzger, “When you own a home, you are creating a place that your family can call home for generations to come.” 

If you’re ready to make your dreams of homeownership a reality, Catherine Nimmo or any of the agents at ERA Justin can help. Give us a call at 201-939-7500.

Independence Day is a time to celebrate our freedom. For many people, true independence means owning their own home.  If you’re tired of paying rent and want to achieve the American Dream of homeownership, here are a few tips to get started.

Get Your Finances in Order

“Before you can start looking for a home, you need to make sure your finances are in order,” says Carol D. Calamari, Sales Associate at ERA Justin Realty,  “This means you need a good credit score, a steady income, and a down payment saved up.” 

• Credit Score: Lenders will use your credit score to determine whether you’re a good risk. Aim for a credit score of at least 680, which is the average score for most homebuyers.
• Income: Lenders will also want to see proof of a steady income. You’ll need to provide pay stubs, tax returns, and bank statements. So start collecting them now.
• Down Payment: The down payment is the amount of money you’ll pay upfront for your home. The larger your down payment, the smaller your monthly mortgage payments will be.

Get Pre-Approved for a Mortgage

“Getting pre-approved for a mortgage is the next most important step in the process,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “Your lender will give you a letter stating how much you can safely afford to spend on a home.” 

 Start Looking for a Home

Once you’re pre-approved for a mortgage, you can start looking for a home. There are a few things to keep in mind when you’re searching for a home:

• Location: Consider your commute to work, your proximity to schools, shops, restaurants and entertainment.
• Size: Make sure the home is the right size for your needs. 
• Condition: Inspect the home carefully for any repairs that may be needed.

Make an Offer

When you find a home, you’ll need to make an offer. “The seller may accept your offer, reject it, or counteroffer,” says Calamari, “A knowledgeable real estate agent will examine comparable homes and make sure your offer is competitive enough to be the winning bid, but not more than the home is worth.”

Close on the Home

Once your offer is accepted, you’ll need to close. This involves signing the mortgage documents and paying the closing costs. Once you sign on the dotted line, you’ll be the official owner! Now you can start enjoying all the benefits of homeownership, like building equity, getting tax breaks, and making your home your own.

If you’re ready to break free from rent this July, give Carol D. Calamari or any of the agents at ERA Justin Realty a call at 201-939-7500.

The current real estate market has some members of Gen Z and younger wondering if they will ever be able to afford a home. “Between inflation, rising home prices and high mortgage rates, they think all hope is lost,” says Antonella Dininno, Sales Associate at ERA Justin Realty, “But it isn’t. There are ways to achieve it. You just need to know where to start.”

Down Payment Options

“If scraping together a down payment is the main concern,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Come see us. There are more than 2,000 down payment assistance programs designed to make homeownership obtainable.” A knowledgeable real estate agent can help you figure out if you’re eligible for any local or federal down payment assistance programs. “Plus, chances are you won’t need to put down a full 20%,” adds Metzger.

Live with Loved Ones

“It may not be the number one thing you want to do,” says Dininno, “But many young people are moving back in with Mom and Dad in order to save up for a house.” According to the Pew Research Center more than 50% of 18 to 29-year-olds are currently living with their parents. In 2020, that number was at 47%. Today it is up to 52%. It hasn’t been this high since the end of the Great Depression.  However, it works. According to the National Association of Realtors, 30% of Gen Z homebuyers are moving directly from a family member’s home to a home of their own. “It helps to ditch the rent and save up,” says Metzger.

Cast a Broad Net

When it’s time to start looking, it helps to cast a broad net. “Rural and suburban areas are in general more affordable than the city,” says Dininno, “While the city may be more fun, you get a bigger bang for your buck the farther out you go.” Now that so many employers are allowing hybrid work from home situations, the cost and time of commuting is less of a factor for many Gen Z and younger.

Be Flexible

While you’re looking, remember to be flexible. “Chances are you won’t buy your dream home right away,” says Metzger. “It might be a condo or a townhome you share with roommates for a while. But equity is equity and no matter what you buy, real estate is always a worthwhile investment.”

Bottom Line

Yes, the real estate market is tight between high prices and high interest rates, but achieving the American Dream of homeownership is obtainable. Antonella Dininno or any of the agents at ERA Justin Realty can help make your dream a reality. Give us a call at 201-939-7500.

It’s the first day of summer!  Temperatures are heating up, the sun is staying up late and the kids are getting out of school. It’s the perfect time to move!

“Summer is traditionally one of the best times to move,” says Alexa Micciulli, Sales Associate at ERA Justin Realty.  There are several reasons for this. Here is a list.

The Weather

“The temperatures may be too hot for some people,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “but the hot weather also usually means less rain, and rain is the last thing you want on your moving day!” Unlike winter which can make moving difficult with slippery roads and freezing temperatures, the dry, warm weather in summer is ideal for moving upholstered furniture and cardboard boxes. It ensures that your stuff won’t get wet and moldy. “Of course there are still rainy summer days, but there are fewer than in spring.”

The Longer Days

There are literally more hours in the daylight during the summer. “The sun stays bright well into the night giving you more time to get all of your stuff out of one house and into another,” says Micciulli, “Who doesn’t want that? It’s especially helpful if you are making your move without the help of professional movers, which can also save you money.” Moving companies can sometimes cost more in summer due to the higher demand for their services.

The Yard Sales

The warmer, sunnier weather makes for the perfect way to get rid of the stuff you don’t want to pack: a yard sale! Summer is peak yard sale season and plenty of pickers are out bright and early because your junk just might be their treasure.

The Kids

Finally, the kids are out of school. “Though they might be underfoot on moving day itself,” says Metzger, “Summer is the ideal time to move your family. It’s less likely to disrupt your routine, plus moving during summer break is especially helpful if you have to switch schools.”

If you’re a family looking to move to a new house this summer or empty nesters ready to make room for a new family to move in, Alexa Micciulli or any of the experienced agents at ERA Justin Realty can help. Give us a call at (201) 939-7500.

When people decide to move, it usually corresponds with a major life milestone. “They’re usually getting married, divorced, or downsizing after kids move out,” says Winster Ceballos, Sales Associate at ERA Justin Realty. “But these days we are adding another reason: To make money.”

According to a new survey from Realtor.com 24.4% of those surveyed say they recently sold their home in order to make a profit, making financial reasons more of a driving factor than family right now. Family reasons came in second at 23.7%.

#1 Make a Profit

According to the property data provider ATTOM, homeowners who are choosing to sell are really cashing in. ATTOM’s data shows home sellers made an average of $121,000 in profit in a typical sale in 2023, generating a 56.5% return on investment.

“That is a significant amount of money,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin, “Much of that was due to skyrocketing prices during the pandemic. Prices are still rising today, just not as fast.” 

Continued appreciation– especially during the typically hot real estate market in spring and summer months– is good news for sellers. “Any increased profit can help offset the costs of moving whether they buy again right away or rent for a bit,” adds Ceballos, “Many empty nesters are cashing in now and choosing to rent while waiting for mortgage rates to drop.”

#2 Family Reasons

Kids, Mom, Dad, Grandma and Grandpa are still important factors in deciding when to move and where. 

“Baby boomers might be downsizing and moving away to be closer to their adult children and grandchildren,” says Ceballos, “They might sell to an extended family. Maybe a couple sandwiched between raising their kids and caring for their parents. Real estate is the circle of life.”

Whether you’re selling for pure profit or to finance the next step on your family’s journey, Winster Ceballos or any of the experienced agents at ERA Justin can help you get top dollar for your home. Give us a call at (201) 939-7500.

If you’re shopping for a new house, you may be hearing a lot about how high mortgage rates are. Well, here is some good news: They could start dropping soon. The next interest rate decision from the Federal Reserve (aka The Fed) is expected next week. 

Last month, The Fed left the Federal Funds Rate unchanged at 5.25%-5.50%.  That in turn kept the average rate for a 30 year fixed mortgage over  7%.  If you’re wondering why they’re two different numbers and what they mean for you… Here’s a quick primer and what to expect next.

The Fed

The Federal Reserve is holding its next policy meeting on June 11th and 12th. “This is the Fed’s next chance to trigger lower mortgage interest rates,” says Soila Columbie, Sales Associate at ERA Justin Realty, “They could stay the same, but at least they’re not expected to go any higher right now.” 

The Fed started raising the Federal Funds Rate in early 2022 in an effort to slow down the pace of inflation. “The Federal Funds Rate is how much it costs banks to borrow money from each other,” explains Jennifer Darby Metzger, Broker/Owner at ERA Justin, “The Fed’s decision on the Federal Funds Rate percentage doesn’t determine mortgage rates directly, but mortgage rates respond up or down when it changes.”

When Will Mortgage Rates Come Down?

“If it doesn’t happen next week, the overall consensus among experts is that mortgage rates should still come down this year, just later than originally expected” says Columbie, “But that doesn’t mean you should wait to buy.”

“Trying to time the market isn’t necessarily the best course of action,” adds Metzger, “If your ideal home is available right now, don’t stress about the economy. Interest rates change.You can always refinance when mortgage rates drop.  As we like to say: you date the rate but marry the house.”

Bottom Line

Whether you’re looking to buy your first home, upgrade to your next or downgrade to a smaller one but unsure how much you can afford due to mortgage rates, Soila Columbie or any of the knowledgeable agents at ERA Justin can help you figure it out. Give us a call at (201) 939-7500.