Hate has no home here. It’s a sentiment taken to heart at ERA Justin Realty.

ERA Justin’s team of real estate agents showed this by taking time to learn new ways to best understand and serve the diverse population of Northern New Jersey and beyond. 

A thought-provoking panel discussion was held at Elia Restaurant in East Rutherford. It was led by Tanya Reu-Narvaez, Chief People Officer of Anywhere Real Estate. A Nutley native of Puerto Rican descent, Tanya got right down to business by questioning why some organizations find talking about fostering diversity and inclusion difficult. “They call it a hard conversation,” Tanya said, “Why? We are talking about people.”

In introducing the panel, Tanya welcomed Virginia Caamano, President of the National Association of Hispanic Real Estate Professionals. Virginia pointed out how the Latino community currently represents more than 40% of the nation’s first time homebuyers, and it’s growing fast. “It’s expected to reach 70% by the year 2035!” she added.

Virginia relayed how her own parents, Spanish-speaking immigrants, achieved the American dream of homeownership when they bought their home in Lyndhurst. 

While telling the love story – that led to building wealth – she surprised ERA Justin Broker/Owner Jennifer Darby Metzger with a heart-warming fact: “My parents bought that house with the help of an agent from ERA Justin,” Virginia said, “And they called her back 30 years later when it was time to sell.” That agent, Grace Tirrito, is still with the company. Virginia’s parents are now enjoying retirement in a new oceanfront home.

Also on the panel was Asian Real Estate Association of America (AREAA) Vice President Soo Yu, who recounted the racism she often faces at home showings. She told of the time another agent was surprised to find she spoke English then still talked loudly as if she and her clients would not understand otherwise. “I had a choice,” she said. “I could either say ‘EXCUSE ME’? Or realize it’s just ignorance.”

Another segment of the population which is often highly discriminated against in real estate is the LGBTQ+ community. David Siroty from the LGBTQ+ Real Estate Alliance pointed out that even though the percentage of people who identify as LGBTQ is rising steadily, particularly among younger generations, discrimination at home and at work is still affecting their home buying power. UCLA’s Williams Institute reports that the LGBTQ+ homeownership rate is 49.8%, far lower than the overall national average of 64.6%.  

Some tips the panelists offered to help diverse communities achieve their real estate goals included widening their location search parameters and using utility bills to help establish good credit.

But, it is not just buying power that’s affected in these underserved communities. The panel pointed out selling power is too, particularly when there is inequality in appraisals. A home belonging to a white family will often be valued higher than a similar minority-owned home in the same neighborhood. 

The fear of not getting the price they deserve can be assuaged with a single emotion, according to Virginia Caamano: “Trust. They’re looking for trust.”

If you are looking for a real estate agency you can trust – no matter which segment of the population you identify with – ERA Justin Realty will help you buy or sell your home. Pop into our main location at 46 Chestnut Street in Rutherford or call us at 201-935-7500. 

This 4th of July, declare your independence from renting!

“There is nothing like the feeling of freedom you get when you buy your first home,” says Grace Tirrito, Sales Associate at ERA Justin Realty, “Instead of paying your landlord rent, you’re essentially paying yourself.”

Here are 5 reasons why it’s better to own, than rent:

1. It’s an investment

The  average homeowner’s net worth is more than 44 times greater than the average renter’s net worth. Owning a home creates personal wealth. As you pay down your mortgage, your home is also appreciating in value. It gives you a better and safer return than investing in the stock market.

2. Tax Advantages

When you buy a home, you can write-off your property taxes and mortgage interest. “This not only means your housing costs are costing you less on an after-tax basis, but you’ll potentially get a much bigger refund from the IRS,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “When you rent, 100% of your monthly rental payment is made with your after-tax dollars and you get nothing back.”

3. Monthly Budget Predictability

When you rent, your landlord decides when your payment will go up, and you usually have no say over it. When  you have a mortgage, you know what your payment will be every month for years to come. Rent rates keep rising.

4. Control Over Improvements

When you own your own home, you can change anything you want, when you want it. No asking the landlord. Plus, any improvements you make increases the value of your home. That money goes into your pocket when you sell. Not your landlord’s. 

5. Sense of Security

“Buying a home gives you a sense of security you just don’t get through renting,” says Tirrito. “You’re not just putting a roof over your head. You’re putting down roots in a community, participating in its upkeep and providing for your family potentially for generations to come.”

If you’re ready to declare your independence from your landlord, an experienced real estate professional can help you achieve your dream of homeownership. Give Grace Tirrito or any of the knowledgeable agents at ERA Justin a call at 201-939-7500.

Our four-legged friends are often some of the most important, and most adorable, members of our family. In order to provide our furry companions a safe place to explore and grow, our team recommends “pet-proofing” your home. Not only does this create a safe environment, but it also protects  your home from any wear-and-tear and allows it to stand the test of time. 

First, we recommend dedicating a specific drawer or cabinet to pet supplies. Before you know it, your pet supplies like treats, leashes, doggie bags, and more can take up a significant amount of space in your home. Having a place to store all of these items helps to declutter your space and creates one go-to spot for all of your needs. . 

Another important factor to consider is your choice of flooring. Instead of opting for the typical hardwood or carpet, we suggest going for a more durable material like luxury vinyl, engineered wood, or tile. “Switching to one of these flooring types protects the floor from deterioration, but doesn’t force homeowners to sacrifice style,” says Ilene Harpuder of ERA Justin Realty. 

If you are interested in having area rugs in your home space, we advise our clients to invest in machine washable, water resistant, and stain resistant rugs. How many times has your pet jumped out of the bath soaking wet or run inside the house with muddy paws? With washable rugs, there is no need to worry. Simply throw the rug in the washing machine and it will come out as good as new! 

While using childproof locks may not be the first thing that comes to your mind when preparing your home for a pet, it is very important to prioritize safety for your animal. Our top tips include locking cabinets and drawers that are within your pet’s reach, closing toilet lids, moving medications and cleaners to a safe location, and taking electric cords out of reach. This way, your animal can roam freely and safely without you having to worry.  

“Taking all of these precautions not only protects your pet, but keeps your home in pristine condition and makes it all that much easier to put it on the market when you are ready to sell,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. 

If you are interested in beginning the home selling journey, give Ilene Harpuder or any of our agents a call at (201) 939-7500.

“Your house doesn’t have to be in pristine condition in order to sell it,” says ERA Justin Broker/Owner Jennifer Darby Metzger, “We can help you clean it out or explore other options.”

Darby Metzger has personal experience dealing with top-to-bottom clean-outs, having done it for someone close who passed away leaving behind three homes that were stuffed to the rafters with paperwork, clothing, and even brand new items still in their bags along with original receipts. 

“We will never say ‘This house is too messy. We can’t list it,’” says Darby Metzger. “We’ve seen it all.”

Shows like Hoarders are bringing awareness to this psychological condition that affects two to five percent of the American population, but hoarding is nothing new. According to the National Association of Realtors, the first recognized hoarders were brothers Homer and Langley Collyer who died in Harlem in 1947. They left behind a mansion filled with 120 tons of junk, including Model T car parts and 14 grand pianos.

While cases like that are extreme, the thought of decluttering or packing up can feel overwhelming to a homeowner especially if they’ve been in their homes for decades. “These items are sentimental to them,” says Darby Metzger.

 “Something that looks like trash to you may be very important to the seller emotionally or financially,” says Darby Metzger. “We treat these clients with compassion and understanding as we help them shed what is no longer needed in order to  move on to the next phase of their lives.”

Extreme cleaning professionals, and psychologists alike, suggest renting a storage space for sellers who are not quite ready to part with particular items. If they’re in a hurry to sell, a storage space buys them time to revisit their belongings and decide what to keep, what to donate, what to give away to relatives and what to trash.

Formulating a plan around the clutter is critical in the selling process, “Whether it’s referrals for clean outs, estate sales or selling your home “as-is” with the contents, we have done it before and are here to help!”

If you’re ready to sell your longtime home but don’t know where to begin paring down a lifetime of accumulation, an experienced ERA Justin real estate professional can help. Give us a call at 201-939-7500.

Figuring how much to expect in closing costs can be confusing, especially if you’re a first time homebuyer. Here are some facts to help you factor it all in ahead of the big day.

What are they?

Let’s start with the basics. What are closing costs and why do you have to pay them?

“Closing costs are the fees and expenses that go to pay all the people around the table on closing day, for doing the work they do to ensure the property becomes yours,” says Glenn Elliot, Sales Associate at ERA Justin Realty. 

What do they include?

Closing costs include: government recording costs, appraisal fees, credit report fees, lender origination fees, title services, tax service fees, survey fees, attorney fees, and underwriting fees. 

How much do they cost?

“Closing costs can range from two to five percent of the purchase price of your property, with 2%-3% being average” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “Generally speaking, a more expensive home will result in higher costs. Lenders are required to provide detailed estimates in advance when applying for a loan and actual amounts shortly before closing.”

How do I pay them?

Your down payment can’t be used to pay for closing costs, but the good news is they can be negotiated. “You don’t necessarily have to cough up all that cash. In some cases, the seller could agree to pay some as part of seller concessions,” says Elliot,  “Your lender could also roll them into your mortgage agreement, but you’ll pay interest on it. Of course, if you have the means to pay them outright you can bring a check and pay cash at closing.”

Bottom Line

Adding in closing costs can be overwhelming when buying a house, especially if it’s your first time going through the home buying process. A knowledgeable real estate professional can guide you, and introduce you to the right lenders, lawyers, and others so that you trust all the people around the table on closing day.

If you’re looking to buy a home, Glenn Elliot or any of the experienced agents at ERA Justin Realty can help. Give us a call at (201)-939-7500 or pop into our main location at 46 Chestnut Street in Rutherford.

Downsizing to a smaller house. It’s usually part of retirement. The kids are grown and on their own, and  you don’t need so much room. But there is an interesting trend growing amongst Millennial homeowners: They don’t want so much space either.

 “Some younger homeowners are choosing to downsize to smaller homes or condos,” says Fara Espandi, Sales Associate at ERA Justin Realty, “It’s their way to save money on housing when the cost of living is so high.” 

“When you think about saving money, you might focus on cutting down on things like groceries and clothing,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “When you downsize your house, you also shrink the bills that come with it including the mortgage payment, property taxes, lawn maintenance, electricity, and heating and cooling costs.”

Selling could earn you a windfall of money. “Many of these homeowners are surprised to find out how much equity they have built up in their house,” says Espandi, “And how much it appreciated in value, even if they’ve only owned it a few years.”

One pitfall in this scenario is a smaller home equals a retirement home to their parents, and a starter home to younger generations. So, the market could be more crowded than they expected.

“Millennial downsizers should keep in mind that inventory is low across the board, so they may sell their big house fast, but could have fewer options to choose from when buying smaller due to competition from Boomers and Gen Z,” says Metzger.

If you’re thinking about downsizing, ask yourself these questions:

• Do the original reasons I bought this house still stand? Or have my needs changed?
• Do I really need and want the space I have right now, or would something smaller be a better fit?
• What are my housing expenses right now and how much do I want to save by downsizing?

Once you know the answers to these questions, meet with a real estate professional like Fara Espandi or any of the agents at ERA Justin Realty to assess your options. Give us a call at 201-939-7500.

Adjustable Rate Mortgages are making a comeback.

“They’re called ARMs for short,” says Danielle Sette, Sales Associate at ERA Justin Realty, “‘ARM’ was a dirty word after the housing bubble burst in 2007, but not anymore.”

Adjustable Rate Mortgages tend to become more popular as fixed rate mortgages rise. “Borrowers are looking for any way they can to save on interest,” says Sette’s partner Jessica Davidson of Team Sette Davidson, “Fewer than 2 percent of all mortgages were adjustable rate when fixed rates were at their all time lows in 2021. Now, we’re seeing clients ask for them again.” 

According to the Mortgage Bankers Association, ARM applications for single family dwellings went up to nearly 13% of nationwide applications as rates went up in 2022.

“They’re making a comeback especially in more expensive metropolitan areas like ours,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “But you have to know what you’re signing up for by weighing the pros and cons.”

Adjustable Rate Mortgages come with a lower introductory rate for a set period of time, usually 5 to 7 years. Once that time expires, the rate goes up or down as mortgage rates shift. 

“ARMs are most helpful when you know you won’t be staying in the house for decades,” says Sette, “If it’s a starter home and you know you will need to move in 5 years, it might make sense to get a lower rate ARM.”

“And if you decide you want to stay you might find the rate adjustment is still affordable, even cheaper,” says Davidson, “If not, you can always refinance and get a 15, 20 or 30 long term fixed rate mortgage.”

So why not get one?

The biggest reason is: if you don’t move or refinance when your introductory rate expires, the rate can then adjust to mirror rising interest rate hikes as often as every 6 months, making your monthly payment more variable.

“You have to pay attention to the fine print,” says Metzger. “ARMs can be a useful tool to help you get started on your real estate investment journey. But you have to play the game right.”

Danielle Sette, Jessica Davidson or any of the experienced agents at ERA Justin Realty can help you figure out if an ARM is the best way to get in the game. Give us a call at 201-939-7500.

Now that warm weather is finally here, it’s time for a good spring cleaning. 

“Regardless of whether you are trying to sell,” says Cathy Vick, Sales Associate at ERA Justin Realty, “Now is a great time to give your whole house a once-over.”

So open the windows, turn on some music and get going! Here is a to-do list to follow as you move room to room.

Sanitize Frequently Touched Areas

“This is something we have all become more attuned to in recent years,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin, “Disinfecting.”

“Start by wiping down all the areas in your house that are frequently touched,” says Vick, “This includes all door knobs, light switches, cabinet handles, drawer pulls, faucets and remote controls. Use a wipe or any kitchen or bathroom spray and a paper towel will do the trick.”

Do a Deep Clean

“Has it been a while since you cleaned the inside of your refrigerator? Now is the time to do it,” says Metzger. 

Empty out the cabinets and wipe down the shelves. “This is also a great time to declutter, and get rid of all those tupperware containers that lost their lids,” adds Vick.

A good deep clean will also see you dusting everything from your ceiling fans, window sills, blinds and any mouldings. “Once that’s done you want to actually wash your walls. A magic eraser does wonders for cleaning off scuffs… and even crayon.”

Organize Closet

Spring is a great time to purge your wardrobe. “Take a good look at all your winter clothes. If there is anything you never wore all season, you might consider giving it away,” says Vick. “Do the same thing in the fall with your spring and summer clothes.”

Don’t Forget the Outdoors

You should be cleaning out your gutters once a year, might as well be the spring when the weather is just right. Grab a ladder and a pair of gloves, and lay a tarp down on the ground to catch all the debris. “While you are up there, check your shingles for any signs of wear and tear,” says Metzger.

Staying on top of your yearly home maintenance will save you a lot of time and energy when you decide to sell someday. When you are ready, Cathy Vick or any of the agents at ERA Justin can help. Give us a call at 201-939-7500.

Emptying your pockets to shell out that first down payment… It may seem like buying your first home is going to break the bank.  However, the fact is it will actually make you richer in the long run.

“It’s the number one way for the average American to build wealth,” says Catherine Nimmo, Sales Associate at ERA Justin Realty, “And that wealth can turn into generational wealth to help your family down the line.”

According to the National Association of Realtors (NAR), homeownership is the largest source of net worth among families because, on average, the value of their primary residence is worth about ten times the amount most families have in financial assets.

“You achieve this amount of equity by not just paying toward your principal every month,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty, “But by watching your home’s value go up year after year through appreciation.”

“Of course, paying off your mortgage faster than expected certainly helps,” adds Nimmo.

The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, concurs saying:  “Building equity through your monthly payments and appreciation is a critical part of homeownership that can help you create financial stability.”

In other words, home equity does more to build the average household’s wealth than anything else. According to the title insurance company First American, this holds true across different income levels.

“Whether you make $100,000 a year or less than half that,” says Nimmo, “home ownership is achievable and the best way to build a nest egg that could last for years to come.”

Spring is the peak home buying season with more homes coming on the market. If you’re interested in learning more about investing in your first home, contact Catherine Nimmo or any of the agents at ERA Justin Realty by calling (201) 939-7500 or visiting one of our Rutherford locations at 46 Chestnut Street or 57 Park Ave.

Buying a home can be one of the most exciting times of your life. There is so much to prepare from signing contracts to buying furniture and more. But while you’re furniture shopping and see your dream couch, take a moment to pause before making the purchase. While you may not think anything of it at the moment, the purchase of that couch, or any furniture for that matter, can impact your loan and the sale of your home. 

“This is something we love to share with our clients because not everyone thinks of it during the homebuying process,” says Carol D. Calamari, Sales Associate at ERA Justin Realty. It is important to note that your credit is re-verified ahead of closing on your home. If there are discrepancies between your credit now and when it was first run, no matter how small, this may cause your loan to go through underwriting for a second time. 

These types of purchases ahead of closing on your home can alter and drop your credit score. For example, if you choose to purchase a piece of furniture that has not yet been paid off by the time a secondary check of your credit score is run, it could impact your loan and purchase of your home. 

While this doesn’t mean you won’t get your dream home, if your credit drops ahead of the purchase, you will most likely need to begin the loan process from the beginning again – causing a major delay. 

Though this information can be overwhelming, there’s no need to fear – the couch will still be in the furniture store when you are ready to purchase it. In the meantime, make sure to make thoughtful decisions that protect your credit and the purchase of your home. 

A real estate professional like Carol D. Calamari or any of the agents at ERA Justin Realty can “furnish” you with more details on the do’s and don’ts of buying a home. Give us a call at (201) 939-7500.