New Year’s Resolutions For Home Buyers

New Year’s Resolutions For Home Buyers

 

Is buying a new home one of your goals for 2021?  Or maybe 2021 is the year you’re going to buy your first home?  If so, it’s never too early to start planning so you are ready when the time is right.  Mike Anderson, a sales associate with ERA Justin Realty has the following recommendations for would-be homebuyers. 

 

Be Honest About Your Finances

“My first recommendation to clients is to honestly review your finances.  Start by comparing your monthly income and your spending habits,” Mike advises. “If you’re a first-time homebuyer, evaluate your discretionary expenses and determine where you can cut back to save toward a down payment. You’d be surprised at how quickly small savings can add up!”

 

Meet with a Local Lender 

“A local lender really understands the dynamics of the market and can provide personalized customer service,” Mike explains. “At ERA Justin, we have a few lenders we regularly recommend to our clients because of their knowledge of both their industry and the local market.” A local lender will be well-versed in both special programs for first-time homebuyers, and can help seasoned homeowners who are looking to move or buy a second home understand how much they can afford and what loan products exist to help them make their purchase a reality.  

 

Speak to a Trusted Realtor

Arguably one of the hardest parts of the process is hiring a Realtor®. “Make sure you pick an agent that is experienced, knowledgeable about the local market, and whose work style and personality is in alignment with yours,” Mike recommends.  “Your agent is your partner in the home buying process,” Mike continues, “So in addition to making sure you have similar styles, it’s important to be as specific as possible with your goals.  Do you want to buy or rent?  Are you buying your first home, an investment home, or a second property?”  The best agents will take the time to thoroughly review your goals so they can make the best recommendations at every step of the home buying process.

If homeownership is one of your goals for 2021, call Mike or any of the experienced professionals at ERA Justin Realty Co.  at 201-939-7500 to discuss your wish list and explore your options. 

 

What If I Need to Sell My Home Now?

 

Every day that passes, people have a need to buy and sell homes. That doesn’t stop during the current pandemic. Mike Anderson, REALTOR Sales Associate at ERA Justin Realty states, “If you’ve had a major life change recently, whether with your job or your family situation, you may be in a position where you need to sell your home – and fast. While you probably feel like timing with the current pandemic isn’t on your side, making a move is still possible.”  Rest assured, with technology at your side and fewer sellers on the market in most areas, you can list your house and make it happen safely and effectively, especially when following the current COVID-19 guidelines set forth by the National Association of Realtors (NAR) and the Centers for Disease Control and Prevention (CDC).

You may have a new baby, a new employment situation, a parent who moved in with you, just built a home that’s finally ready to move into, or some other major part of your life that has changed in recent weeks. Buyers have those needs too, so rest assured that someone is likely looking for a home just like yours.

People are spending a lot of time on the Internet right now, given the stay-at-home orders implemented across the country. Buyers are actively looking at homes for sale online. Some of them are reaching out to real estate professionals for virtual tours and getting ready to make offers too. 

There Is Less Competition Right Now

Some sellers are temporarily removing their homes from the market right now. This can definitely work in your favor. If other sellers are removing their listings, your home has a better chance of rising to the top of a buyer’s search list and being seen. Keep in mind, listings will pick up again soon, as most sellers are only planning to delay the process by a couple of months. If you need to sell right now, don’t wait for the competition to get back into the market again.

This year, delayed listings from the typically busy spring season will push into the summer months, so more competition will be coming to the market as the pandemic passes. Getting ahead of that wave now might be your biggest opportunity.

The real estate agents at ERA Justin Realty are working hard every single day under untraditional circumstances, utilizing technology to help both buyers and sellers who need to continue with their plans. We’re using virtual tours to show homes currently on the market, staying connected with the buyers and sellers through video chats, and leveraging resources to complete transactions electronically. We’re making sure the families we support remain safe and can keep their real estate needs on track, especially as life is changing so rapidly. 

To contact Mike Anderson or any of our real estate professionals to discuss your real estate needs, call 201.939.7500.

ERA JUSTIN REALTY PROVIDES ENERGY TIPS 2019

Losing money is never a good thing. You want your home to be comfortable, but you certainly don't want it to cost you more than is necessary. Energy efficiency is both good for the environment and for your bank account. A quick look around your property can help you save when it comes to energy efficiency issues.

Michael Anderson, ERA Justin Realtor agent offers these tips to South Bergenite readers. “Older homes that haven't been updated can often create energy issues, but they don't have. Newer homes may suffer less from energy issues, but every home needs to be inspected from time to time. First, look for the obvious problems, such as cracked windows, a storm door that is not closing properly, or even a split in the foundation. Warm (or cool) air can seep through, costing you valuable money. Try holding your hand over door and window frames to see if the air is coming through. On windy days, place a piece of tissue paper next to these openings. If the tissue moves, you've got a problem. It may be time to take action. The good news is that you have very little to lose and a lot to gain. Try adding caulk around your door and window frames and along basement walls. There are inexpensive 'sweepers' you can place at the bottom of your door to help keep out drafts. Weatherstripping is usually easy to install and is quite effective in sealing up small areas where air leaks through. Be sure to replace any broken panes. A newer and better sealing storm door might also be an option.

In the winter, a rug or 'draft stopper' can be placed by the door to block heat from escaping. Let the sunlight work for you by opening drapes when the sun is out and closing them later in the evening. In fact, the fabric is a terrific way to keep a room warm.

Adjusting the thermostat only a few degrees can make a tremendous difference in that energy bill. If it feels a little cooler than you would like in the winter, put on a sweater. As long as everyone in the house is healthy, it shouldn't make any difference, except to your bank account. In the summer, ceiling fans can circulate the air, making your home feel cooler without costing so much. Even in the winter, you can reverse the blades on the ceiling fan and it will move the warm air around, making the room seem warmer without turning up the thermostat.”

Michael concluded, "All across the nation, the most sought award that can be achieved in business is the ‘J.D. Power & Associates’ award. Only outstanding business entities are honored and receive it. ERA Real Estate was the recipient of ‘Highest Satisfaction for First Time Home Buyers Among Full-Service Real Estate Firms’ Also awarded ‘Highest Satisfaction for First Time Home Sellers.’ For these reasons ERA Justin Realty should be your buying and selling Realtor of choice."

The ERA Justin Realty full-service Realtor agents can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue. By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Also, view 1000s of homes at their websites at www.ERAJustin.com and www.ERAJustinRealty.com.

 

Michael Anderson: Is the Real Estate Market Getting Back to Normal

Michael Anderson: Is the Real Estate Market Getting Back to Normal

ERA Justin Realtor agent Michael Anderson gives an overview of past, current and future real estate cycles, suggested by Keeping Current Matters. "Housing in a normal real estate market typically appreciate with price swings. Looking back after the bubble burst in June 2007, values depreciated 6.1% annually until February 2012. From March 2012 to today, the market has been recovering with values appreciating annually. These swings in values were caused by ratios between the available supply of inventory and buyer demand in the market. In a normal market, there would be a 6-month supply of housing inventory.

Anderson added, "KCM then suggested, "When the market hit its peak in 2007, homeowners and builders were trying to take advantage of a market that was fueled with inventory levels growing to approximately 7 months. With that, many homes available for sale, there weren’t enough buyers to satisfy the number of homeowners/builders trying to sell, so prices began to fall.

Then, foreclosures came to market. We eventually hit 11 months inventory which caused prices to reduce until early 2012. By that time, inventory levels had fallen to 6.2 months and the market began its recovery.

Over the last five years, inventory levels have remained below the 6-month supply needed for prices to continue to level off. As a result, home prices have increased over that time at percentages above the appreciation levels seen in a more normal market. 

That was the past. What about the future?  We currently have about 4.5-months inventory. This means prices should continue to appreciate at above-normal levels which most experts believe will happen for the next year. However, two things have just occurred that are pointing to the fact that we may be returning to a more normal market.

1. Listing Supply is Increasing, both existing and new construction inventory is on the rise. A past Existing Home Sales Report from the National Association of Realtors revealed that inventory has increased over the last months after months of declining inventory. At the same time, building permits are also increasing which means more new construction coming to market.

2. Ivy Zelman, who is widely respected as an industry expert, reported in her ‘Z’ Report: While we continue to expect a resumption of growth in resale transactions on the back of easing inventory in 2019 and 2020, our real-time view into the market through our Real Estate Broker Survey does suggest that buyers have grown more discerning of late and a level of “pause” has taken hold in many large housing markets. Indicative of this contacts rated buyer demand at 69 on a 0- 100 scale, still above average but down from 74 last year and representing the largest year-over-year decline in the two-year history of our survey."

Anderson concluded, "Based on the KCM information, with supply increasing and demand waning, we may soon be back to a more normal real estate market. We will no longer be in a buyers’ market (like 2007-February 2012) or a sellers’ market (like March 2012- Today).

Prices won’t appreciate at the levels we’ve seen recently, nor will they depreciate. It will be a balanced market where prices remain steady, where buyers will be better able to afford a home, and where sellers will more easily be able to move-up or move-down to a home that better suits their current lifestyles."

Ron Darby, Broker-Owned added, "We are just returning to a more normal market, which in the long run, will be much healthier for you whether you are a buyer or a seller."

Realtor Agent Michael Anderson Joins ERA Justin Realty

 

Realtor Agent Michael Anderson Joins ERA Justin Realty

“Buying and selling a house can be emotional. Dealing honestly, openly and having pride in the service you provide, your buyers and sellers will respect and have trust in you,” words of Michael Anderson who is an ERA Justin Realtor agent. ...


Jennifer Darby Metzger, broker co-owner stated, “Michael's hard work, enthusiasm and focus in handling all details of his transactions result in successful purchases and sales. As a full time agent he will offer advantages to everyone he serves. Michael's service will mean the difference between a great experience vs a disappointing one. All of our agents are highly qualified, dedicated to service for our buyers and sellers and offer specialized expertise.”

She continued, “ERA Justin Realty is widely recognized for their professionalism, skilled staff, and forward industry thinking and the use of cutting-edge technologies resulting in successful transactions which better serve our buyers and sellers. To say you are affiliated with ERA Justin Realty brings strong satisfaction. With their support systems, success follows as we all work to exceed buyer and seller expectations. Michael's buyers, sellers and renters will always be his #1 priority while building strong relationships."

Michael added, “I'm knowledgeable about our area communities and know real estate through my connection with the construction industry. A current Lyndhurst resident and prior Rutherford resident for 36 years, my father was a proud police officer. I will serve those in Bergen County as well as Passaic, Hudson and Essex Counties. It will be my pleasure to find a home for you; an individual expression of ourselves as well as a welcoming home for our families.”

Michael chose ERA Justin Realty because of their dedication to continuing education and the culture of the company, including their sense of community and charitable events, With their teamwork and collaboration, success is stronger each year.. He looks forward to contributing to that overall success.