There’s been a buzz lately about a so-called “Silver Tsunami.” 

The term suggests that a massive wave of baby boomers are getting ready to transition to smaller homes, flooding the market with larger homes for sale.  While this is great news for nationwide inventory and decreasing home prices, economists say don’t hold your breath.

“Demographic trends don’t ‘tsunami’”, says Mark Fleming, Chief Economist at First American, “They trickle.” The baby boomer generation spans over nearly two decades, which means any demographic shifts in real estate will unfold over an extended period. 

Nevertheless, the market is heating up ahead of the hot real estate season: spring!

“We may not be completely saturated, but more and more houses are being listed,” says Julia Dagistanli, “Expectations for the upcoming spring market are high for both buyers and sellers.” Pent-up demand from those who postponed buying in the winter months will benefit those who postponed listing until spring.

For buyers: mortgage rates are continuing to decrease making homeownership more affordable and accessible – and making buying this spring more enticing. Lower interest rates means buyers can spend more money on a house.

For sellers:  limited inventory will drive up both demand and prices for available homes on the market, making it more likely you’ll get top dollar for your property.

“Silver Tsunami or not,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “The spring real estate market is poised to be hot. Both buyers and sellers alike should get ready to act fast.”

“Buyers can get a head start by finding a trustworthy mortgage broker and obtaining a pre-approval letter stating the maximum amount they can pay for a home,” says Dagistanli, “Sellers can get a head start on spring cleaning ahead of open house season.”

No matter your stage of life, Julia Dagistanli or any of the agents at ERA Justin Realty can help you reach your real estate goals. Give us a call at (201) 939-7500 or stop by our office at 46 Chestnut Street in Rutherford.

Selling a property with multiple units can be a unique challenge, especially if it’s your first time. “It’s not just a real estate transaction,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “It’s a business transaction.”

There are things owners of multi-family units, especially ones with apartments that are currently rented with long term leases in place, should know before putting their property on the market.

Danielle Sette and Jessica Davidson of Team Sette/Davidson at ERA Justin have a few tips.

The more on top of your property you are, the easier it will sell. “Proactive landlords who update and renovate in between tenants have a higher return on their investment,” says Danielle, “Not only do they get more money through monthly rentals, but some buyers want a turnkey property,” adds Jessica, “They get instant income at market value the day they close.”

However, some buyers would prefer the units are unoccupied, especially if their rent hasn’t increased in some time.

“Having long term tenants at below current market rents can be an issue when selling an occupied multi-family home,” says Jessica. Agents suggest sellers take a hard look at their rental incomes when deciding when to sell and how to price their property. “Keeping current market rent is imperative to the pricing structure when dealing with multi-family homes,” says Danielle.

However, upping rents right before listing might not be the best idea. “In some cases, your renters will need to be available for showings,” says Jessica, “Showings can be difficult when tenants do not cooperate.”

“It’s also important to keep up to date on state inspections and registering rents annually with your town,” says Danielle. “This makes getting a Certificate of Occupancy easier when selling, and the process of passing the property on to new owners more smooth.”

Bottom Line: Selling a multi-unit property comes with its own set of challenges. Team Sette/Davidson or any of the agents at ERA Justin Realty can help. Call us at (201) 939-7500.

Yes, we all have smartphones these days and they take pretty darn good pictures. Horizontal. Vertical. Portrait mode. 3-D! If you’re in the process of selling your home, you may be wondering whether it’s worthwhile to invest in professional photography, when your smart phone seemingly does it all.

“When it comes to selling your home,” says Elizabeth Osipova, a member of ERA Justin’s marketing team and one of northern New Jersey’s top 7 real estate photographers according to Giggster.com, “If a picture is worth a thousand words, then professional photography could be worth thousands of dollars.”

Here’s why Elizabeth says hiring a photographer is smarter than using a smartphone:

1.     Creating a Positive First Impression  

“As a seller, you only have one opportunity to make a favorable first impression of your property. That first impression is often formed through the listing’s images. This can lead to more showings and potentially more people showing up at your open house.”

       2.    Attracting Potential Buyers

“High-quality, eye-catching images capture the interest of potential buyers, making your property stand out amongst comparable homes. Professional photographers have access to tools like a wide-angle lens that helps effectively portray the size of your house.” 

3.     Highlighting Key Features

“Professional photos showcase your property in the best possible light, conveying its uniqueness, aesthetics, and ambiance. Whether it’s the stunning view, stylish interior design, spacious rooms, and amenities like a pool or three car garage, these are all selling points that need to look their best.” 

4.     Build Trust and Credibility

“When potential buyers see well-composed, well-lit, and appealing photos, they are more likely to trust that your property is accurately represented. This can increase their interest in taking the time to visit your home and potentially start the process of buying it.” 

Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty agrees professional photography is worth every penny. “Homes that are photographed professionally not only sell more quickly, they sell at a higher price than those without professional photos,” says Metzger, “Some real estate agencies may try to cut corners by cutting out pro photos, but not ERA Justin.”

If you’re getting ready to list your house for sale, we are ready to make it look its best. Give us a call at 201-935-7500.

It’s a great time to sell a house in New Jersey.

Home prices across the state went up significantly in 2023, and are continuing that trend so far in 2024.

“According to the New Jersey Real Estate Network, New Jersey earned the 4th highest percentage increase across the country last year,” says Ilene Harpuder, Sales Associate at ERA Justin Realty.

NorthJersey.com reports the New Jersey Real Estate Network ranked states after analyzing data from Zillow on sales across the country from January 2023 to December 2023. The analysis shows New Jersey’s home prices went up 7.43% over those 12 months. In comparison, the average price increase for single family homes nationwide was 3.5%.

New Jersey comes in behind New Hampshire at #3, Maine is #2 and Connecticut is in the top spot with the highest percentage increase in home prices.

“The analysis shows prices went up the most in these states for a host of reasons,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Some of those reasons include job growth and more people wanting to move to the area. Many New York City dwellers moved to the suburbs in New Jersey or north to New England in recent years. Supply and demand always drives prices up.”

On the opposite end of the sales spectrum, the states showing the biggest decreases in real estate prices are Louisiana, Idaho, Texas, North Dakota and Nevada.

“Any decrease in price is unusual,” says Harpuder, “In the past 5 years homes across the country have seen a more than 50% increase in appreciation. The biggest jumps were during the pandemic years.”

“Last year New Jersey also had the second highest home price increase in the nation by dollar amount,” says Metzger. “The average home price is now more than $495,000 dollars. That’s more than $34,000 up over 2022.”

This is great news for sellers. But there is good news for buyers too. Mortgage prices are dipping below 7% again, which helps buyers afford the monthly payments on rising sale prices.

If you’re getting ready to sell and want to see how much your home is now worth, Ilene Harpuder or any of the knowledgeable agents at ERA Justin Realty can help. Give us a call at (201) 939-7500 or pop in at 46 Chestnut Street in Rutherford.

Mortgage Rates rose to nearly 8% in 2023. That’s the highest they’ve been in 20 years.  “We saw both high home prices and higher mortgage rates in 2023,” says Fara Espandi, Sales Associate at ERA Justin Realty, “That was a double whammy that really affected affordability. But the good news is those days are over. Mortgage rates are finally in the 6% range again.”

“The pandemic was too high, 2023 was too cold,” Odeta Kushi, Deputy Chief Economist at First American Financial Corporation recently told the Washington Post, “2024 won’t be just right, but it will be heading in a normalizing direction.”

So what can homebuyers expect? Economists expect mortgage rates to continue to decline in 2024, but the drop will be modest and gradual. They’re expected to settle between 6 and 7% by the end of the year.

 “Don’t expect to see the super low rates we saw during the pandemic,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Those rates were abnormal. What we are seeing now with 6 to 7%  is a correction. It’s not less than 3%, but it’s also not more than the 16% your parents and grandparents might have paid in the 70s and 80s. It’s actually in the middle to low end.”

Why is the mortgage interest rate so important when shopping for a home? “It factors into your monthly payment,” says Espandi, “The less you spend paying back your loan with interest, the more you can spend on the house itself.”

At the end of 2023, the average interest rate on a 30-year fixed mortgage was 6.61% according to The Federal Home Loan Mortgage Corporation, also known as Freddie Mac. It peaked in October 2023 at 7.79%.  “If inflation starts leveling off and stays that way, the Federal Reserve could start cutting interest rates again in the middle of 2024,” says Metzger, “The Fed doesn’t control mortgage rates directly, but lenders usually follow suit and cut their own rates.”

If you’re looking for a realistic assessment about how much home you can afford to buy this year, Fara Espandi or any of the knowledgeable agents at ERA Justin Realty can help. Give us a call at (201) 939-7500.

ERA Justin Realty is proud to announce that Jennifer Darby Metzger has been named one of RIS Media’s Newsmakers for 2024!

RISMedia, the leader in real estate information, has been providing the industry with news, trends and business development strategies since 1980 through its flagship publication, Real Estate magazine, its leading website, RISMedia.com, its blog, Housecall (blog.rismedia.com), and its renowned networking and educational events.

Every year RISMedia honors the Real Estate Newsmakers who are “making headlines for the right reasons”.  The real estate industry faced challenges heading into 2023 from rising interest rates and persistent inflation to elevated home prices, industry lawsuits and more. Given the extraordinary events throughout the year, there were many who made headlines for the wrong reasons. But there were many, many more who forged through a trying year to accomplish great successes, uplift their companies and communities, push forth needed innovation, and collectively advance the real estate industry forward. RISMedia’s 7th Annual Real Estate Newsmakers represent real estate champions of all kinds, from all walks of the industry. According to RISMedia “during this time when our industry is under siege by an array of forces, it is more important than ever to shine a light on the vast amount of good that continues to occur. The examples set by our 2024 Newsmakers serve as important inspiration and motivation for the year ahead.”

In 2023, Jennifer Darby Metzger, broker/owner of ERA Justin Realty, led her team through a self-analysis of their diversity, equity and inclusion goals and practices. They identified ways to better serve their increasingly diverse New Jersey community. 

“The most rewarding part of my career is working with others in my office to achieve success together…We know how important we are to one another. We share knowledge and experiences with each other, we mentor one another, work to grow every day and to be leaders in our industry,” says Darby Metzger. “One of the reasons we are successful at it is because we incorporate fun in what we do. We enjoy the tremendous opportunities our group brings, and we celebrate each other’s victories as if they are our own. We constantly strive to do better and more for our clients than any others.”

RIS Media will welcome the Newsmakers at their  2024 CEO & Leadership Exchange in September at the Mayflower Hotel in Washington D.C.

Reach out to Jennifer anytime to chat about real estate at ERA Justin Realty (201)939-7500.

ERA Justin Realty, the top residential real estate brokerage in the Rutherford area, is proud to announce its Leaders for the 4th quarter of 2023. 

They are: Fara Espandi, Carol D. Calamari, Alexa Micciulli, Catherine Nimmo, Julia Dagistanli and Lee Schilare.

ERA Justin’s Leaders Award is an internal program that recognizes those agents that consistently meet and exceed their goals, their client’s goals and the company’s goals on a monthly basis.  

“We are extremely proud of these agents,” said Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “Not only do they lead the company in sales and volume numbers, but they also set an example with their dedication to customer service and service to our community.”

The company celebrated a number of outstanding achievements in 2023. 

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 real estate 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.

Plus, according to the NJMLS, an impressive seven out of the top 10 agents in Rutherford are from ERA Justin, including Fara Espandi, Jessica “Jessi” Davidson, Danielle Sette, Julia Daglistanli, Michelle Korosy, Catherine Nimmo and Rosemarie Zembryski.

Want to work with one of our award-winning team members for your real estate needs?  Call 201.939.7500, or visit us 7 days a week. We are conveniently located at 46 Chestnut Street in Rutherford, NJ.

ERA Justin Realty Co. is proud to congratulate eleven of its agents for being named the New Jersey Association of Realtors (NJAR) 2023 Circle of Excellence Sales Award winners. NJAR recognizes top producing real estate members who have demonstrated excellence in the field of salesmanship.

“We are thrilled to once again celebrate an impressive number of winners from our family of agents,” boasts Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “One Gold, Four Silver and six Bronze. We are truly proud, particularly considering the ever changing landscape in real estate the past year.”

“These agents are dedicated to achieving their clients’ goals, whether that be home ownership for the first time, or selling their long-time home to the right buyer,” adds Metzger. ”Their service and dedication are what epitomize our values for over 60 plus years.

This year’s Gold Level Award winner is Alexa Micciulli. Silver Level Award winners are Danielle Sette, Fara Espandi, Jessica “Jessi” Davidson and Julia Dagistanli. The Bronze Level Award winners are Antonella Dininno, Catherine Nimmo, Catharine “Cathy” Vick, Libera “Lee” Schilare, Michelle Korosy and Rosemarie Zembryski.

In 2023, ERA Justin Realty Company’s highly professional and knowledgeable agents sold more than three times more homes in Rutherford than any other company, once again establishing itself as the #1 brokerage in Rutherford home sales for the 23rd  year in a row. ERA Justin Realty Company is also ranked #1 in closed units in the Southwest Bergen area which consists of Carlstadt, East Rutherford, Hasbrouck Heights, Little Ferry, Lyndhurst, Moonachie, North Arlington, Rutherford, South Hackensack, Teterboro, Wallington and Wood-Ridge based on NJMLS statistics for 1/1/2023-12/31/2023. 

“We are thrilled to be able to say we achieved this position in the marketplace once again,” Jennifer says, “It is our absolute honor to serve our community.”

If you would like to work with 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, NJ. 

Sales Associate Fara Espandi has been named Top Agent at ERA Justin Realty for the year 2023.

Espandi received the honor by both selling the most units and earning the highest volume in sales in the company this past year.

“I am so honored to be recognized for this,” said Espandi, “I would like to give big thanks to all of my buyers, sellers, landlords, friends and family who supported me and helped me achieve my goals this year.”

Espandi started her career in real estate 26 years ago in 1997. Fara has been a member of NJ Realtor Circle of Excellence since 2000.  She is also a lifetime member of the  New Jersey Association of Realtors’ Distinguished Sales Club.

“Fara is a ‘people person’ and it shows in how she helps her clients obtain their real estate goals and dreams,” said Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “It is this commitment to the community that helped her become the top producing agent at ERA Justin Realty in 2023.”

“Realtors don’t just sell homes. We hold your hand and help you mentally move on to the next phase of your life,” says Espandi. “It isn’t just selling real estate, I provide the tools and expertise to make an emotional transaction as easy as I can for my client. In the year ahead, I look forward to serving my clients and helping them through what can be a stressful but exhilarating time in their lives. ”

To see how Fara Espandi can help you with your real estate questions or needs, call us at 201.939.7500 or stop by our main office at  46 Chestnut Street in Rutherford.

It can be hard to put a price tag on your home, especially if it’s where you have celebrated so many of life’s precious milestones. Birthdays. Holidays. Graduations. Bridal Showers. How do you put a price on memories? 

“Well, you don’t,” says Glenn Elliot, Sales Associate at ERA Justin Realty, “Your memories are priceless. Your home isn’t. That’s why it’s best to bring in a knowledgeable but neutral real estate professional to help make sure you don’t price too high – or too low.”

Pricing your home correctly can be the single most important decision when you list your home for sale. “It can mean the difference between getting top dollar quickly,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Or languishing on the market for months, resulting in a lower sale.”

Here are Glenn’s top tips to setting the right price point:

Avoid Overpricing

“Setting a realistic and appropriate price at the outset is crucial,” says Elliot, “Seeing an inflated price could cause potential buyers to overlook your house.”

Also keep in mind online search parameters are often capped at round numbers. “If you have a mental selling price of $399,000, don’t list at $415,000 just to see if you can get it,” says Metzger, “A buyer searching multiple listings with a top budget of $400,000 might not even see yours if it’s higher than that.”

Don’t Underprice 

Some sellers will intentionally undervalue their homes, hoping to cause a bidding war and quicker sale. “It may draw more interest, but underpricing can backfire,” says Elliot, “Some buyers may second guess their quick decision and back out, sending you back to square one.”

Renovation Values

“Sure, an $80,000 new kitchen is appealing to buyers, but that doesn’t mean your home’s price will increase by that exact amount,” says Elliot, “Before you invest in upgrades, analyze your neighborhood’s trends to see if splurging on state-of-the art appliances will increase your resale value, or if buying mid-range will actually get your more bang for your buck.”

Evaluate Comps

One way to assess your local trends is to take a look at recent sales in your area. “Your agent can give you a list of recent comparable home sales that resemble yours in terms of size, location and amenities,” says Metzger, “Together you can use the information to adequately price your home.”

If you’re looking to put your home on the market in 2024, Glenn Elliot or any of the experienced agents at ERA Justin Realty can help. Give us a call at (201) 939-7500.