Time on the Market Drops to New Low in 2017

 Thursday January 4th, 2018  For Buyers, For Sellers, Move-Up Buyers

Camden, Gloucester & Burlington County Sellers! It May be time to get your home on the market!

Search These South Jersey Neighborhoods By Town!

Camden County NJ

Blackwood NJ - Gloucester Twp

Valleybrook Blackwood NJ Town Homes and Condos For Sale

Cobblestone Sicklerville NJ

Mulberry Station Sicklerville NJ

Stonebridge Run Sicklerville NJ

Wye Oak Sicklerville NJ

Glen Oaks Laurel Springs NJ

 

Somerdale NJ Gloucester Twp NJ

Broadmoor Somerdale NJ

Timberbirch Somerdale NJ

 

Gloucester County NJ

Mickleton NJ Developments

Mullica Hill NJ

Crossroads At Mullica - Mullica Hill NJ

Devonshire - Mullica Hill

Weatherby Woods - Mullica Hill NJ

Country View - Mullica Hill NJ

 Eagle Acre Estates - Mullica Hill NJ

Casella Farms - Mullica Hill NJ

Sewell NJ 

The Hunt Club Condos

 

Posted By Dave Sulvetta REMAX Connection  Baby Boomers, For Buyers, For Sellers, Move-Up Buyers, Rent vs. Buy

In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home.

“Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent…

Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”

This makes sense in the short term for many reasons. If you are moving to a different part of town or a new region of the country, you may decide to rent until you pick the perfect home in an area you love. However, is renting a good long-term strategy?

A mortgage payment remains fixed. Rents, however…

The Census Bureau recently released their 2017 third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether you should rent or buy your next home, you should take this into consideration.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home instead of renting. Let’s get together so we can help you decide what the best step is for you and your family!

Let's Get Started Looking For A Home! 

Valleybrook Blackwood NJ Town Homes and Condos For Sale 

Mickleton NJ Homes For Sale

Dave Sulvetta REMAX Connection   December 15, 2017 First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers, Pricing We recently shared that over the course of the last 12 months, home prices have appreciated by 7.0%. Over the same amount of time, interest rates have remained historically low which has allowed many buyers to enter the market. As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home. The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 4.7% over the next 12 months. What Does This Mean as a Buyer? If home prices appreciate by 4.7% over the next twelve months as predicted by CoreLogic, here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today:   Bottom Line If buying a home is in your plan for 2018, doing it sooner rather than later could save you thousands of dollars over the terms of your loan. Search For Valleybrook Blackwood NJ Condos and Town Homes For Sale Search Mickleton NJ Homes For Sale [lme-module module="about" city="Mickleton NJ " zip="08056"]

Before You Make an Offer, Here Are 4 Tips for Success!

Tuesday December 12th, 2017 First Time Home Buyers, For Buyers, Move-Up Buyers So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found it! The price is right, and in such a competitive market, you want to make sure that you make a good offer so that you can guarantee that your dream of making this house yours comes true! Freddie Mac covered “4 Tips for Making an Offer” in their Executive Perspective. Here are the 4 tips they covered along with some additional information for your consideration: 1. Understand How Much You Can Afford “While it’s not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.” This ‘tip’ or ‘step’ should really take place before you start your home search process. Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace). 2. Act Fast “Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.” The inventory of homes listed for sale has remained well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream homes. Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible. 3. Make a Solid Offer Freddie Mac offers this advice to help make your offer the strongest it can be: “Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.” Talk with your agent to find out if there are any ways that you can make your offer stand out in this competitive market! 4. Be Prepared to Negotiate “It’s likely that you’ll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you’ll be glad you did your homework first to understand how much you can afford. Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.” If your offer is approved, Freddie Mac urges you to “always get an independent home inspection, so you know the true condition of the home.” If the inspector uncovers undisclosed problems or issues, you can discuss any repairs that may need to be made with the seller, or cancel the contract. Bottom Line Whether buying your first home or your fifth, having a local real estate professional who is an expert in their market on your side is your best bet to make sure the process goes smoothly. Let’s talk about how we can make your dreams of homeownership a reality! Search Valleybrook Blackwood NJ Homes For Sale  Contact Dave Sulvetta REMAX Connection to Start your home search My YouTube Channel

Valleybrook Blackwood NJ - What's For Sale December 2017

 

Here is the current inventory for Valleybrook Blackwood NJ

261 Wilson Rd Turnersville NJ 08012 Home For Sale

Gloucester County NJ

Washington Twp NJ School District!

   

 Check out more of this listing  261 Wilson Rd Turnersville NJ 08012 - Sewell NJ homes For Sale

"Moving is easy and packing is fun," said nobody ever! Packing up everything you own is stressful and tedious, so follow a few simple tips to make your move more streamlined. Give yourself time Packing can be overwhelming, so pace yourself to help keep things organized. Pack non-essential or off-season items weeks before your move. Books, knick-knacks, framed art and anything else you won't use until you are in your new home can all be packed early. Eliminate some of the stress by packing a little bit at a time. Downsize and donate Now is the time for cleaning out closets, cupboards, the attic, basement and garage. Be ruthless! Donate or toss everything you don't use. The more you get rid of, the less you have to pack, move and organize in your new home. Stock up on moving supplies Sometimes boxes from grocery or liquor stores work well and they don't cost you anything. However, they may not be clean or hold the weight of your items and many different sizes of boxes are harder to stack in a moving truck. Use boxes designed for moving when necessary. Keep items clean by using white packing paper. Newsprint may work for some things, but the ink can smear on other pieces. Get plenty of packing tape and markers. You will probably need more than you think you do. Label each box carefully Unpacking is harder than packing because you have to decide where everything goes in your new place. Give yourself a break by labeling boxes clearly with their contents and destination. For example, "Kitchen: Dishes and Glasses" or "Master Bedroom:  Shoes and Purses." Label the tops and sides of the boxes and be sure to mark "Fragile" when appropriate. Keep "just in case" items handy Don't pack all your tools. You might need a screwdriver for taking the mirror off the dresser and other possible last minute projects. You'll need them at your new home, too, along with light bulbs, extension cords and power strips. Make a complete "just in case" list and keep those items handy. Keep essential items close, too There are several things you will need immediately at the new house. These include toilet paper, hand soap, bed linens, cleaning supplies and anything else you will want your first night at the new house. Snacks and medications should be handy, as well as a small first aid kit. You might want to pack these in a clear plastic box so they stay in plain sight. Don't ship everything with the movers Transport legal documents and other important papers yourself. You might also choose to move heirlooms or precious breakables in your own vehicle. There are some things that you actually can't move, so review the rules about what you can't pack in a moving van. Some common household chemicals can't be shipped because they are hazardous or flammable. Pack an overnight bag Everyone in your family needs pajamas, clean underwear and a change of clothes, along with basic toiletries and other essentials. You will probably be too tired to unpack everything, so keep the overnight bag in your car until you need it. Make the beds, go out to eat and get a good night's sleep before tackling the unpacking in the morning.

Much of the country is currently experiencing a strong sellers' market. Homes are moving quickly and it's quite likely a property may receive multiple offers. This is a strong position for you if you have your home on the market, but you need to be wise when judging which offer is actually the best one. It is natural to want to take the highest price, but be smart and look at the whole offer to judge if it is really the best option. You want an offer that has a good chance of closing successfully and is not weighed down by unreasonable or undesirable contingencies. Take this scenario, for example: One offer is $5,000 above the next, but includes a contingency for inspections and mortgage appraisal. The buyer making the second offer has conducted a pre-inspection and is willing to take the home as-is and waive the appraisal. You may decide the $5,000 difference is not worth the potential problems and take the second offer. Another example: one offer is considerably higher, but is only putting down 5%. A lower offer that includes 20% down may be the better choice for you. A low down payment can mean the buyers are not really serious about your house and will pull out of the deal if they find something they like better. Perhaps you receive one offer with conventional financing and another a few thousand dollars higher with FHA financing. This may be significant to your decision especially if you are in a hurry to close the deal because of a job transfer or other reasons. FHA loans have more stringent guidelines than traditional loans and therefore more risk for slower closing dates. It might be better to take the lower offer to dodge potential complications. You want to avoid accepting any offer with risks that it could backfire. If your buyers get cold feet after your house has been off the market for several days, you are back to square one. The next buyers in line will assume something is wrong and momentum for selling your home could be stalled. The following sliding scale is a good illustration of the worst to the best scenarios you could expect if multiple buyers offer the SAME price for your home:

• All cash, no contingencies
• All cash, pre-inspected
• Big down payment, inspection & appraisal waived
• Big down payment but contingent on inspection and other contingencies
• Contingent on low down payment, inspection, appraisal, title & HOA review, low earnest money and asking for closing costs

As always, count on your agent to help you evaluate the strength of each offer you receive. Enjoy being in the driver's seat while selling your home in this competitive market. The tables may turn as you begin the search for your next house!