ERA Justin Agents Lead The Market

 

ERA Justin Realty is thrilled to celebrate its Leaders Award winners for the third quarter 2020. The Leaders Awards recognizes those top performing agents that meet and exceed their goals and the company’s goals on a monthly basis. The third quarter winners are (pictured, left to right): Carol D. Calamari, Julia Dagistanli, Catherine Nimmo, Jennifer Sullivan and Cathy Vick.

 

“We are proud to honor these agents not only for their sales performance but also because they exemplify our core values to positively impact their communities and our industry,” said Jennifer Darby Metzger, ERA Justin broker/co-owner.  “Each of these individuals have combined their entrepreneurial spirit with the tools, training, and support we provide to all our agents, to create successful, profitable businesses.”

 

“There’s a huge opportunity for agents to grab market share in today’s current economy,” Darby Metzger added.  “Our clients are looking for safer and more comfortable ways to sell and buy a home.   Recent data from Google showed that 15 million consumers are searching for virtual or 3D tours.  A third of those surveyed preferred a contactless way to conduct business.”

 

“At ERA Justin, we provide our agents with the technology, tools and services to seize on these current market trends,”  Darby Metzger continued.  “From professional photographers, virtual tours, and video walk-throughs, to our extensive online listing promotions in hundreds of online outlets,  our agents are able to provide consumers with the exposure, experience and services they need right now.”

 

According to recent market research of agents and brokers affiliated with ERA Real Estate, independents and other brands conducted by Wakefield Research*, ERA Real Estate is regarded as a brand that is leading competitors in growth, speed and potential. Noted primarily as an experienced, full-service offering, ERA Real Estate is recognized for its culture, reputation, relationships and technology. Nearly 80% of surveyed ERA Real Estate agents report that the brand’s tools and technology positively impact their productivity.

 

If you're thinking of a career in real estate and looking to be a part of a powerful network of contact Jennifer Darby Metzger at 201-939-7500

                               Five Reasons NOT To Sell Your Own Home

While there are many benefits to working with a real estate professional when selling your home, now more than ever it’s crucial to have an expert guide you through the process. If you’re considering a For Sale By Owner (FSBO), you must consider the following.  

                                                                       

Your Safety is a Top Priority

“When you FSBO, it’s incredibly difficult to control entry into your home,” says Krista Ponti, sales associate with ERA Justin Realty. “At ERA Justin we follow the current National Association of Realtors (NAR) protocols to protect your health and safety, from regulating the number of people in your home to ensuring proper sanitation procedures.  We also provide virtual tours.”

                                               

An Online Presence is Key

Even before Covid-19, 44% of all buyers started their home search online, and that number jumps to 93% throughout the process, according to NAR. “Our integrated advertising approach includes a presence in hundreds of online outlets to help reach the greatest number of interested, qualified buyers,” adds Krista.           

                       

There Are Too Many Negotiations

In addition to working with the buyer, if you FSBO you’ll also need to work with the buyer’s agent, inspection companies, and the appraiser. In addition, the documentation involved has increased dramatically as more and more disclosures and regulations have become mandatory. A real estate professional is trained to negotiate every aspect of the real estate transaction. 

                                                                       

You Won’t Know if Your Purchaser is Qualified

When you FSBO, it’s almost impossible to be involved in your buyer’s mortgage process. A real estate professional is trained to ask the appropriate questions to ensure your buyer is qualified.                                                         

                                                                       

You Net More Money When Using an Agent                                     

A study by Collateral Analytics revealed that FSBOs don’t actually save anything by forgoing the help of an agent. In some cases, the seller may even net less money from the sale. One of the main reasons for the price difference is effective exposure --the more buyers that view a home, the greater the chance a bidding war will take place. 

Before you decide to take on the challenge of selling alone, connect with Krista or any of the real estate professionals at ERA Justin Realty at 201-939-7500.                                                  

How Much Home Can You Afford?

How Much Home Can You Afford?

When looking for a new home,  the first question most people ask is -- how much can I afford?  But price is just one of the things that impacts the purchase -- it’s important to also look at the overall coast in the long run.   A major factor determining this is your mortgage rate.

“Mortgage rates play a huge factor in determining how much you can afford to pay.  Today’s low rates are off-setting rising home prices, because it’s less expensive to borrow money,” explains Lee Shilare, a REALTOR with ERA Justin Realty.  “The lower your interest rate the more you can save over the life of your home loan.”

According to Mortgage News Daily, home ownership is the most affordable it’s been since 2016.  Those shopping for a home can afford 10 percent more home than they could have one year ago while keeping their monthly payment unchanged.   This translates into nearly $32,000 more buying power.

How To Determine What You Can Afford

“Key factors in calculating affordability are  your monthly income; cash reserves to cover your down payment and closing costs; your monthly expenses;  and your credit profile,” says Lee.

Income –  your salary any/or returns from investments. Your income helps establish a baseline for what you can afford to pay every month.

Cash reserves – Savings, investments or other sources you can use for a down payment and closing costs.

Debt and expenses – credit cards, car payments, student loans, groceries, utilities, insurance, etc.

Credit profile – Your credit score plus the amount of debt you owe are influential in how much money a lender will approve you to borrow and the mortgage interest rate you’ll earn. 

Bottom Line

When purchasing a home, it’s important to think about the overall cost, not just the price of the house. Homes on your wish list may be more affordable today than you think. Call 201-939-7500 to connect with Lee or any of our knowledgeable agents At ERA Justin Realty to discuss your long term homeownership goals and determine your own price affordability range.  

 

Thinking of Selling?   The Time is Right...NOW!

If you have been considering selling your home, but put your plans on hold because of Covid-19,  you may want to consider moving forward now.  According to the National Association of Realtors® (NAR), July marked the second month of record pace existing home sales with sales in the Northeast rocketing 30.6%. 

 

 “Sales in Bergen County followed this trend, with the median price for homes trending upward, and length of time on the market trending down,” says Jeannine Severino, sales associate with ERA Justin Realty, “And we expect this trend to continue into the fall.”

 

Home Buyers Are Stronger Than Ever  

“We are witnessing a true V-shaped sales recovery as home buyers continue their strong return to the housing market…Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings,”  says Lawrence Yun, Chief Economist at NAR, adding, “The housing market is well past the recovery phase and is now booming with higher home sales compared to the pre-pandemic days.  With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”

 

But Inventory Remains Low

“Despite the fact that homebuyers are coming in strong, they are increasingly frustrated with a lack of available homes for purchase,” says Jeannine.  “The market needs more homes to satisfy this ongoing demand.”

 

It’s a Seller’s Market

The combination of the delayed spring selling season, low mortgage rates, and low market inventory, make now an ideal time to put your home on the market. “Also, the rise in buyer interest has translated into an increase in bidding wars resulting in the optimum time to get the most value for your home,” Jeannine notes.

 

Let a Professional Guide You

If you’ve been thinking about selling your home, now is the right time to leverage your equity and move while buyers are eager to purchase.  Above all, it's important to work with a qualified agent like Jeannine or any of the real estate professionals at ERA Justin Realty.   To find out if selling your home is right for you, reach out to us at 201-939-7500.  

Your Fall Home Maintenance Check List

It’s sweater weather season, and while that means it’s time for apple picking, fire pits and all things pumpkin spice, it’s also the perfect time to tackle some key chores to get your home ready for the winter.  “A few small chores and repairs now mean less headaches later,” advises Sharon Robie, as sales associate with ERA Justin Realty.  “You don’t want to find out that your snow blower is broken after the first major snow storm!” 

1. Clean and check gutters, downspouts, and basement window wells.  Remove leaves and debris that can cause flooding.

2. Aerate and seed the lawn.  This is best done in the early fall, while there’s still time for new grass to grow before the first frost.  Remove all dead leaves before the first snow, and then -- just this once -- mow your grass short to keep mold from forming. 

3. Clean your chimney. Check for cracks, repair flashing, consider installing a chimney cap. 

4. Winterize outdoor water systems.  Blow out your sprinklers, turn off outdoor faucets and drain garden hoses.

5. Patch cracks and repair damage to your foundation, concrete steps, driveways and walkways.  Do this before it snows to avoid accidents and make snow removal easier.

6. Get ready for snow! Schedule maintenance or repairs for your snowblower now.  Remove rocks, extension cords and garden hoses around walkways and driveways that might catch in the blower.

7. Check smoke alarms and carbon monoxide detectors. Stock up on extra batteries now.   

8. Make sure your heating system is in good working order.  Change the furnace filters. Clean the fireplace. Make sure your heating systems have sufficient fuel, gas, electricity, etc. 

9. Switch the ceiling fan direction to clockwise. This pushes the cool air up, and the warm air down, which can help to lower heating costs.    

10.  Check and repair air leaks.  If a lighted candle flickers when held close to your window or door frames, you have an air leak.  Fix by caulking, weather stripping, or applying sealant.

While most home maintenance can be done by the homeowner, some chores -- like chimney maintenance -- are best handled by a professional.   Contact Sharon or any of the other experienced agents at ERA Justin Realty at 201.939.7500 to refer you to the trusted home maintenance and repair vendors in your area.

Making Your Offer Stand Out in a Bidding War

Making Your Offer Stand Out in a Bidding War

Make no mistake about it.  It’s a seller’s market.  In July 2020, there was an average of nearly three offers per house sold, and 68% of homes were on the market for less than a month, according to the National Association of Realtors (NAR).   The current combination of low inventory, coupled with all-time-low mortgage rates makes this an ideal time to sell your home.

 

But what if you’re  in the market to BUY a home?  “With multiple-offer scenarios becoming the norm rather than the exception, it’s important to make sure that you present an attractive and competitive offer to ensure you don’t miss out on your dream home,” advises Beth Albanese, sales associate with ERA Justin Realty.

 

So what makes some offers stand out from the rest?   Here’s four things you can do to make a solid and competitive offer.  

 

Get Pre-Approved

Buyers who are pre-approved are a step ahead of those who aren’t. “Having a pre-approval letter shows a seller you’re serious AND qualified,” says Beth.  “This can definitely tip the scales in your favor with a seller.”  But according to a recent survey* only 52% of active homebuyers obtained a pre-approval letter BEFORE they began searching for a home.  

 

Present Your Best Offer

This is not the time to negotiate or come in under asking price. A buyer considering multiple offers will most likely eliminate these.  Rather, work with a trusted real estate professional who can provide insight into what the bid trends and final sale prices are in your area, and will use that information along with your budget to help you determine your best offer.

Be Ready to Act Quickly

If you really love the home, chances are that someone else does too.  “With houses selling faster than ever, you may not have much time to think about it, and it’s important to make sure your bid is in on time to be considered,” Beth advises.

 

Work with a Trusted Real Estate Professional

ERA Justin Realty has been the Rutherford market leader in closed sales for 19 consecutive years.  If you’re looking to purchase a home this fall and need expert guidance to make the best offer possible, contact Beth or any of our knowledgeable REALTORS at 201-939-7500.

 

 

Renting or Buying:  What’s Right For You?

Is it better to rent or buy a home?   Unfortunately,  there is no “right” answer --  rather, it depends on many factors and differs from person to person.   Regardless, it is a major decision that warrants careful thought.  

Grace Tirrito, sales associate with ERA Justin Realty, suggests that you make a list of your priorities, financial goals, and personal preferences  when making the decision to rent or buy.  “Despite popular belief, renting doesn’t always mean that you’re ‘throwing away money’ and buying doesn’t always ‘build wealth’,” she explains.  “In reality, the decision is much more complex.”  

Why RENT?

Flexibility - Do you have a job that requires you to move around every few years?  Are you not sure about which neighborhood you want to live in?   “Renting a home makes it much easier to move because you don’t have to go through the home selling process,” says Tirrito.  “if you need the flexibility to move easily, then renting is the best choice for you.”  

Fixed Monthly Expenses - When renting a home, your monthly expenses are fairly fixed -- you know what you owe each month for rent, utilities, and renter’s insurance.  When you own a home, there’s the chance for an unexpected expense -- like replacing the furnace, or repairing the roof.  

Limited Maintenance - Depending on your lease, most maintenance is the landlord’s responsibility.  You might need to mow the lawn, but you’re generally not responsible for major home repairs or maintenance.

Biggest con when renting?   Your landlord is in charge.   You may be faced with a rent increase, limitations on what changes you can make to the interior, or you may be asked to leave when the lease is up.

Reasons To BUY 

Build Equity - Buying a home is a financial investment and every time you make a mortgage payment you are building equity in that investment.  You can turn that equity into cash if you sell the home or refinance it.

Stability and Community - Owning a home and being connected to a community has many benefits for those looking to raise a family and establish long term relationships with friends. 

Freedom - Owning your own home gives you the control to update and renovate as you see fit.  Update that kitchen, refinish the basement, or add a backyard pool.   

Whether to rent or buy a home is a major decision. Some people buy homes when financially they’d be better off renting because home ownership is important to them.  Conversely, some people are habitual renters because they value flexibility, even though they’d amass more equity long term if they bought a home.  If you are facing this decision, working with a trusted professional like Grace Tirrito can help.   To connect with Grace, or any of our experienced Real Estate Agents, call 201.939.7500.