Owning real estate is the main driver in building wealth and financial security. However, there are plenty of other benefits to home ownership… including emotionally.

Control 

“Owning your own home can give you a sense of control,” says Alexa Micciulli, Sales Associate at ERA Justin Realty, “Knowing that your home is truly your own space, and you’re free to do with it as you please… is well-freeing!” 

According to a recent survey done by Fannie May, 94% of those surveyed said “Having Control Over What You Do With Your Living Space” is a top reason to own.

With the exception of Home Owners’ Association (HOA) rules, condominium, co-op, and certain national landmark contingencies that have a say over what can be done to exteriors, homeowners are free to decorate their living space as they see fit. “And when you rent, it’s up to your landlord,” says Micciulli, “Any interior alterations may need to be put back if you decide to move.

Community

“Buying a home allows you to put down roots in a community,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “As a homeowner you are invested in your neighborhood. You want to see your neighbors, your schools, your downtown and its businesses thrive.” In the Fannie May survey, 82% said “Feeling Engaged In Your Community” is a motivation to own a home. 90% say “Having a Good Place for Your Family to Raise Children” tops their list of reasons to buy.

Pride

Finally, owning a home can give you a sense of pride unlike any other. “A house is often the biggest purchase a person will ever make. It’s often the result of years of saving and a lifelong dream,” says Micciulli. “Achieving that goal is certainly something to be proud of.”

Bottom Line

If you’re ready to feel the strong sense of control, community, and pride that comes with homeownership, Alexa Micciulli or any of the experienced real estate professionals at ERA Justin Realty can help. Give us a call at (201) 939-7500.

In a tight real estate market, having a pre-approval letter in your hands could be the difference between getting your dream home… and not.

The number of homes on the market is low nationwide. This means you could be competing more for the home you want. This means you have to be ready to act when you find the right house. Having a pre-approval letter is key. So what is it? And how do you get it?

Find a Lender

The first step you need to take is finding a reputable lender. A lender can be known by a few names including mortgage broker or mortgage officer. Essentially, this is the person who is going to be orchestrating your home loan. 

“This person will need a list of documents from you to prove that you’re a safe bet for a loan,” says Winster Ceballos, Sales Associate at ERA Justin Realty. These documents can include pay stubs, bank statements, and any proof of investments. If you need help finding a reputable lender, an experienced real estate agent like Ceballos can give you a recommendation.

Once your lender has all of your necessary paperwork, they can issue you a pre-approval letter. 

What is it?

A pre-approval letter is proof that you can get a mortgage and how much your lender is willing to loan you to buy your future home. “This figure is based on your personal finances, including annual income and how much you can pay in a down deposit,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Print it out or keep it as a file on your phone ready to send to the seller’s agent when you find the right house.”

What it does

“Having a pre-approval letter shows that you are a serious buyer,” says Ceballos, “If you find yourself in a multiple bid situation, having that pre-approval letter could give you a heads up over your competition.” With higher mortgage rates and home prices impacting affordability for buyers right now, a letter shows a seller he or she will not have to waste any time waiting for you to get approved for a mortgage.

Realistic Expectations

For buyers personally, knowing how much house you can afford can help narrow your scope and make sure your expectations are realistic. If you’re ready to buy a home but don’t know where to start, Winster Ceballos or any of the knowledgeable real estate professionals at ERA Justin can help you. Give us a call at (201) 939-7500.

Multiple offers. It’s every seller’s dream, right? It’s wonderful, and guarantees you’re getting top dollar for your house. But choosing the right bid comes with its own set of challenges. Here are some strategies to help sellers win a bidding war.

Work with an Experienced Real Estate Agent

“You shouldn’t go to war without a seasoned veteran on your side,” says Rosemarie Zembryski, Sales Associate at ERA Justin Realty, “You want a seasoned real estate agent who has experience handling several bidders.” Juggling multiple offers is a skill. Be sure to choose an agent with a proven record of handling bidding wars and ensuring a smooth transaction for their sellers.

Carefully Evaluate Each Offer

The highest offer wins, right? Not necessarily! “Money is not always the number one factor to consider,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “There is also the buyer’s financing, contingencies and closing date. We help you compare offers, so you can decide based on which buyer best fits your expectations and timeline.”

Be Strategic with Counteroffers

What if all of your offers are all basically the same? Sometimes multiple buyers all make offers around the same price point. If this happens to you, consider making counter offers to the top contenders. “Counter offers encourage prospective buyers to increase their bids so they stand out from the pack,” says Zembryski “Work with your agent to craft strategic counter offers that will fuel the momentum of the bidding war, and narrow down your options faster.”

Stay Calm and Objective

A bidding war can be an emotional rollercoaster. But if you navigate it adeptly, there can be a big payoff at the end of the ride. So, stay calm, be strategic and trust the process. 

Bottom Line

Navigating multiple offers on your home can be tricky, it’s best to have an experienced real estate professional guiding you. Rosemarie Zembryski or any of the knowledgeable agents at ERA Justin can help you tackle the challenges that come with a bidding war and achieve top dollar for your home sale. Give us a call at 201-939-7500.

Bergen County is filled with historic homes. There are Victorians, Craftsmans, Tudors, and Colonials, some of which date back to before the Revolutionary War. These houses that have stood the test of time are part of what gives our area its charm.

Owning a historic property is a unique opportunity to take part in preserving that history. “It can also be a valuable investment opportunity,” says Michelle Korosy, Sales Associate at ERA Justin Realty, “Historic homes that are well loved tend to retain their value, even during slow periods in the real estate market.”

They can also be a big responsibility. To better understand whether a historic home is right for you, here’s what you should know.

It Can Be Rewarding

Historic properties exude beauty and charm, and often showcase distinctive architectural elements that make them one of a kind. “Doing your part to preserve them for future generations can be a source of pride,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “But there can also be financial rewards, too. Your historic property could qualify for tax abatements or credits from the local or federal government which can be used for restoration.”

Learn the Story 

Check to see if your town has a Historic Preservation Society, a Town Historian or check your town’s library, volunteer organizations and local museum. These sources will often have written documentation on the history of your historic home, potentially including who the builder was and who the home was built for, as well as old photos! For example the Meadowlands Museum located in Rutherford has old photos of most of the homes in town and sells them, nicely framed, as a fundraiser for the museum. Some of these organizations also have programs for markers for Historic Homes or local awards for restoration projects.

Maintenance & Upgrades

Many people are surprised to find out that homes built in the 1980’s are degrading faster than homes built in the 1880’s. “We say ‘they don’t make ‘em like they used to’ for a reason!” says Korosy. But no home is without maintenance, and older properties could require significant upgrades in plumbing, electrical systems and appliances.

If you are looking to fall in love with a historic house, keep all of these things in mind. Michelle Korosy and all of the experienced agents at ERA Justin have connections with local vendors who can help you keep your historic home in tip top shape. Give us a call at 201-939-7500.

ERA Justin Realty is thrilled to welcome new Sales Associate Erin Hunkemoeller to the team.

“I joined ERA Justin for the people!” says Erin, “They sold us our first home. After that experience I knew I wanted to be part of the team!”

Erin bought her home in Pompton Lakes, New Jersey a year ago. She lives there with her partner Joe and two rescue dogs, Alex and Roxi.

“When I think of ‘home’, I think of the people (and pets) that I love. But it’s also about being part of a community,” says Hunkemoeller, “Home is volunteering with Hearts and Bones Rescue, where my dogs are from. Home is being involved with my town’s historical society. Home is dancing at our local ballroom studio, and cooking and baking with food grown in my own garden. I love helping people find their own ‘home’ story.”

“Erin is a dedicated real estate professional whose core values and commitment to excellence matches our company’s,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “She fits right in, and is hitting the ground running.”

Erin says she can describe her core values in 4 words:  

• ●  Integrity: “With unwavering ethics, I maintain transparency and professionalism in every interaction.”
• ●  Excellence: “I strive for excellence, constantly refining my skills to bring you top-tier service.”
• ●  Collaboration: “Together, we achieve greatness. I collaborate with experts to offer holistic real estate solutions.”
• ●  Empathy: “I understand the emotions tied to real estate. I will support you through every high and low.”

Erin also recognizes the need for personalized attention. “Your needs are unique. I tailor my approach to align with your goals, preferences, and budget,” says Erin, “And trust is paramount. I provide transparent insights into the market empowering you to make confident choices.”

“My service philosophy centers around making your real estate dreams come true,” says Erin, “I’m not just about transactions; I’m about delivering a seamless experience that leaves you satisfied and excited about your property journey.”

If you’re ready to start your own real estate journey, contact Erin or any of the experienced real estate professionals at ERA Justin at (201) 939-7500.

Buying your first home is not only a right of passage, it is also the key to building wealth.

Yet more and more young, first time home buyers are putting off homeownership. 

The age of the typical first timer is up to 36. Why?

According to the National Association of Realtors the number of first time home buyers fell to its lowest level on record last year, as young adults are facing a longer path to homeownership than in years past.  First time buyers made up just 22% of buyers in 2022, down from 34% the year before. 

“One of the biggest things holding them back is student loan debt,” says Pilar Castro, Sales Associate at ERA Justin Realty, “Plus, when there is a bidding war people who already have equity in a home have more buying power. However, first time homebuyers can overcome these issues when they’re armed with the right information.”

Here are some keys to success for first time homebuyers in the current market.

20% Down is not a hard & fast requirement

You may already have a down payment saved, you don’t need as much as you think! “20% down is a myth. Some first-time homebuyers put down as little as 3%,” says Castro. Some put down none thanks to public and private first-time homebuyer programs across the country.

“They can help you get into a house with little to no money up front,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “You just need to know where to look for the programs to see if you qualify. The right mortgage lender or real estate professional can help you find one.”

Explore Every Option

Accept the possibility that you won’t get your dream home right away. It’s a seller’s market, which means there are not enough homes on the market to meet buyer demand. “Take that into consideration when making your list of needs. Could a condo or a townhouse do for now? Quit paying your landlord rent, get your foot in the door and start building your own personal wealth,” says Castro. 

Face Facts

The bottom line: Buying your first home right now is tougher than it was a decade ago. But that should not hold you back. The right real estate professional can help you. Give Pilar Castro or any of the agents at ERA Justin Realty a call at 201-939-7500.

Understanding the current state of mortgage rates is critical when it comes to figuring out how much you can afford to spend on a house. But it’s important to remember, that you don’t have to marry it. You can date the rate!

“Interest rates fluctuate,” says Mary Iannaccone, Sales Associate at ERA Justin Realty, “Just because you’re locking into one now doesn’t mean you are locked into it forever. You can always refinance.”

If you’re thinking about buying a house, but are on the fence due to higher interest rates, here is what you need to know.

Historically Low Rates

Mortgage interest rates have been at record lows the past few years. Rates plummeted in 2020 when central banks worldwide implemented measures to stimulate the economy during the Covid 19 pandemic. This allowed more people to buy at affordable rates. “But it is important to remember what we saw then was abnormal circumstances,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “The rates we are seeing now are a return to normalcy. But they are still low in the grand scheme of things, historically.”

Recent Upward Trend

The upward trend we have been seeing lately is a result of inflation but it is also a sign that the global economy is recovering. Mortgage rates have been rising, but that rise has been gradual.

One Size Does Not Fit All

“It’s important to remember that mortgage rates vary from person to person,” says Iannaccone, “It depends on which kind of loan you choose, the length of time you choose to pay it down, your down payment, your credit score. One size does not fit all. You can shop around for the best rate.”

Forecasting Future Rates

While we can’t predict the trajectory of mortgage rates, we can say, historically speaking, what goes up must come down,” says Iannaccone. “And that’s why we say ‘Marry the house, but date the rate.’” 

If you’re trying to decide whether to make the leap and buy despite rising mortgage rates, Mary Iannaccone, or any of the experienced real estate professionals at ERA Justin Realty can help you figure it out. Give us a call at 201-939-7500. 

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 Lee Schilare, 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 Schilare. “Minimal access equals minimal exposure.”

Curb Appeal

“You always want to make a great first impression,” says Schilare, “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. Lee Schilare or any of the agents at ERA Justin Realty can help. Give us a call at 201-939-7500.

Timing can be crucial when it comes to making significant financial decisions. If you’ve been contemplating selling your house, it’s time to take that leap. Here’s why:

It’s a Seller’s Market

The biggest reason to sell your house now is it’s a seller’s market. “Inventory is more than 50% lower than normal nationwide,” says Laura McCarthy, Sales Associate at ERA Justin Realty, “There are more buyers than there are available homes.” This means sellers have the advantage of setting higher prices and receiving multiple offers. You could sell high… fast.

Record-Low Mortgage Rates

Yes, they’re higher than they were. But historically speaking mortgage rates are still quite low. “This is not just good news for buyers, it’s actually good news for sellers, too,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “Low interest rates mean buyers can afford to pay more for a house. The higher the price, the more money in your pocket.” By selling now, you have a large pool of qualified buyers who can afford to pay more for your property.

Equity

If you’ve owned your home for a significant period of time, you may have more equity in it than you think. “Equity is how much more money your home is worth now versus how much you paid for it,” says McCarthy, “If you bought your house for $100,000 and it’s now worth $150,000 that $50,000 is your equity.” Selling now will give you the opportunity to cash in on that equity and either reinvest it, or use it in retirement.

What does this mean for you?

“This means the time to act is now,” says Darby Metzger,  “Buyers have fewer choices than they did in normal years, which puts your house in high demand.”

According to the National Association of Realtors (NAR):

• 74% of homes sell within a month of listing
• The average number of days on the market is 18
• Average number of offers on a single house: 3

“When a home goes on the market – and it’s priced right – it sells quickly,” says McCarthy, “We can help you make sure your price is right.”

Bottom Line

Ultimately, the decision to sell is a personal one that depends on factors specific to your circumstances. If you need help deciding if now is the best time for you, Laura McCarthy or any of the knowledgeable agents at ERA Justin Realty can help. Give us a call at 201-939-7500.

ERA Justin Realty Co is proud to announce its 2023 Leaders for the second quarter of the year. The winners are: Jennifer Sullivan, Libera “Lee” Schilare, Julia Dagistanli, Fara Espandi, Danielle Sette, Jessica “Jessi” Davidson, and Rosemarie Zembryski.

 “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 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 22nd year in a row. In 2022, 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 7 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 erajustin.com to see current listings.