Selling Your House: Here’s Why You Need A Pro In Your Corner!

Selling Your House: Here’s Why You Need A Pro In Your Corner!

With home prices on the rise and strong buyer demand, some sellers may be unsuccessfully tempted to try to sell their homes on their own rather than using the services of a real estate professional.
Real estate agents are trained and experienced in negotiations while, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.
Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to sell by Owner (FSBO):

• The buyer, who wants the best deal possible
• The buyer’s agent, who solely represents the best interests of the buyer
• The buyer’s attorney in many parts of the country
• The home inspection companies, which work for the buyer and will almost always find some problems.
• The termite company, if there are challenges
• The buyer’s lender, if the structure of the mortgage requires the sellers’ participation
• The appraiser, if there is a question of value
• The title company, if there are challenges with certificates of occupancy (CO) or other permits
• The town or municipality, if you need to get the CO permits mentioned above
• The buyer’s buyer, in case there are challenges with the house your buyer is selling

Lee Schilare, ERA Justin Realtor said, "The percentage of sellers who have hired real estate agents to sell their homes increases steadily. In fact, ERA Justin Realty has been #1 in closed Rutherford transactions for the past 18 consecutive years. Let’s get together to discuss all that we can do to make the process of selling your house easier for you.

If you are thinking of selling your home in the near future and want to know for how much it could sell, then you may contact a real estate sales professional at our firm and request a Comparative Market Analysis (CMA) to determine its fair market value,” recommends Jennifer Darby, owner-broker with the firm."

To get an estimate of the fair market value, a homeowner can call the ERA Justin Realty sales team and ask for a Comparative Market Analysis, a service which is provided free of charge and without obligation.

"In conducting a CMA, our ERA Justin Realty sales professionals have access to a wide array of information, such as databases containing recent listing and selling prices of similar homes in the neighborhood, and how long these homes took to sell. The resulting analysis can help a homeowner understand what today's changing market has done to the price of his or her home, and will provide a realistic figure of the home's fair market value. Within the past years, real estate values have escalated. If a home is then put on the market, our sales professionals will use the CMA to help the homeowner establish a selling marketing program," added Lee.

ERA Real Estate has been awarded ‘Highest Satisfaction for First and Second Time Home Buyers Among Full-Service Real Estate Firms'. For these reasons, ERA Justin Realty should be your buying and selling Realtor of choice.

For more information on CMAs, consumers can reach Lee and the ERA Justin Realty sales team at either of their two Rutherford offices at 118 Jackson Avenue or 57 Park Avenue. By phone at (201) 939-7500, (201) 438-0588 or (201) 438-SOLD, and the firm's meet and greet Hoboken location. Additional real estate information is also available at the firms 1000's of homes websites at www.ERAJustin.com and www.ERAJustinRealty.com

5 Tips for Buying in a Tight Market

It’s no secret that much of the country is currently a sellers’ market, but how can you help your buyers stay strong in this competitive landscape? REALTOR Magazine online recently shared five tips for doing so, all of which are easy for you and your clients to adopt if you haven’t already.

Home shoppers are increasingly facing steep competition for the limited number of homes for sale.

“Attempting to purchase a house in this type of market can make the already complex process of buying a home even more overwhelming,” the National Association of REALTORS® notes in a recent release.

NAR offers up five suggestions for home buyers navigating today’s competitive market:

1. Stick to a budget.

Have buyers get preapproved by one or more lenders to ensure eligibility. Be sure to also take into account extra costs of homeownership, such as taxes, utilities, and insurance. “When listings are scarce, bidding wars can drive up prices, so buyers must be prepared to walk away if the asking price surpasses their budget,” according to NAR.

2. Identify the home wants versus needs.

Buyers likely will need to compromise on their wish lists when competition is tight. For example, buyers may have to compromise on amenities like stainless appliances or hardwood flooring, which can always be added later. “However, if a buyer wants to be in a specific school district or have a decent-sized backyard, those cannot be addressed later and must be taken into account during the house hunting process,” according to NAR’s tip sheet for buyers.

3. Be prepared to make decisions quickly.

Homes rarely stay on the market long in a seller’s market. Buyers should not hesitate when they find a house that matches their needs within their budget. Submit offers quickly.

4. Make bids competitive.

A low offer as a starting bid won’t likely work in a seller’s market. Buyers need to be ready to put forward their highest offer from the beginning or they may lose the home. In multiple bidding situations, the highest offer doesn’t always win either. But the bid with the fewest contingencies often becomes the most attractive to sellers. “Removing restrictions related to the sale of a current home and being flexible with things like the move-in date can make a bid stand out to a seller,” NAR notes.

5. Find a REALTOR®.

Buyers may need to be reminded about the importance of working with a real estate professional. Real estate pros are familiar with the areas and neighborhoods in the local areas. “They can give buyers the competitive advantage needed in a tight market,” NAR states.

All of the ERA Justin Realty full-service Realtors 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. Additional cutting-edge real estate technology and information await you at their website. www.ERAJustin.com.

ERA JUSTIN REALTY REVIEWS BEST 2019 DOLLAR-FOR-DOLLAR IMPROVEMENT BENEFITS

ERA JUSTIN REALTY REVIEWS BEST 2019 DOLLAR-FOR-DOLLAR IMPROVEMENT BENEFITS

Wouldn't it be nice if you were able to earn back every dollar that you invested in renovations when you sell your house? Most people actually hope for more than a dollar-for-dollar return. In reality, many improvements return less than the amount they have invested.

For example, in a past Cost Versus Value Report, published by the National Association of Realtors, as reported by Inman News, nationally the average percent recouped on a bathroom remodel was 90.1 percent. It was 88.1 percent for a deck addition, 81.2 percent for a family room addition, and 79.4 percent for a major kitchen remodel.“It's important to do due diligence investigations before embarking on a remodel project, just as you would if you were considering buying a new home. There are many variables to consider,” stated Ron Darby, Realtor Broker with ERA Justin Realty Co. "Consider that the figures quoted are national averages. The amount recouped on a remodel depends in large part on where you live. There's significant variability from one city to the next, according to the NAR report.  For instance, nationally, homeowners recouped only 90 percent on a bathroom remodel. But, the amount recouped for the same job was 109.7 percent in New York City, 100 percent in San Francisco, and only 61.3 percent in Denver, on average.  The return on a remodeling investment will also depend on the value of your home, particularly in relation to the value of homes in your neighborhood. If you have a small home in a neighborhood of larger, more expensive homes, you could come out ahead by enlarging your home. However, it's important to keep costs in line so that you don't end up over-improving your home for the neighborhood. Buyers tend to discount a home that's priced above the value of other homes in the neighborhood. Before remodeling, it's also important to consider your competition. In some areas, certain remodeling projects are taken for granted. For instance, if you're in an upscale neighborhood of older homes where most homeowners have remodeled their kitchen and bathrooms, you may be penalized price-wise by the market if your home is outdated. In areas where home prices are stable, you're likely to gain more on your remodel investment than you would during times of meager appreciation.

There's a subjective factor that can't be overlooked when remodeling. This factor is often referred to as pride of ownership. And, don't discount the value of creature comfort. There's a certain sense of well being to be derived from a home that suits your lifestyle while aptly reflecting who you are. Despite these factors, from an investment standpoint, it makes sense to consider resale value before making an investment in a major renovation. This doesn't mean that you should remodel your home with someone else in mind. But, if you're aim is to recoup as much of your investment as possible, it's wise to consider homebuyer preferences in your area. If your remodeling is not in tune with what buyers want, it could actually decrease the value of your home. Also keep in mind that while trends change, quality and good taste are timeless.  The NAR Cost Versus Value Report was based on professional judgment rather than on actual sales data. Therefore, the report is somewhat subjective. However, it does point out the importance of carefully considering before remodeling.” 

Darby concluded, “At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase. ERA Justin Realty has been selected by thousands of buyers and sellers as their Realtor of choice since 1950 when beginning its years of operation and 18 consecutive years as Rutherford's #1 agency in closed transactions.” 

All of the ERA Justin Realty full-service Realtors 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.  Additional cutting-edge real estate technology and information await you at their websites.

ERA Justin Realty #1 in Closed Rutherford Transactions for 18 Consecutive Years

ERA Justin Realty #1 in Closed Rutherford Transactions for 18 Consecutive Years

ERA Justin Realty, owned and operated by Ron Darby and Jennifer Darby Metzger, is celebrating its 18th consecutive year of being #1 in Rutherford closed listing and sales transactions, published by the New Jersey Multiple Listing Service.

As of December 2018 ERA Justin Realty's Rutherford volume was $42,939,531 with no other area offices tracked even coming close. 2018 was a very successful real estate year. The ERA Justin Realty staff worked diligently with sellers and buyers to continue to be #1 real estate agents and brokers throughout Bergen, Passaic, Hudson, Essex and Ocean Counties.

According to Darby and Metzger, over the past 18 consecutive years the company has closed $544,910,396, over one-half-billion dollars in closing Rutherford volume.
Ron Darby, Broker added, “If you are thinking of selling your house and want to know realistic pricing, you should contact one of our Realtor sales agents and request a Comparative Market Analysis (CMA) to determine the fair market value of your house. Our service is provided free of charge and without obligation. In conducting a CMA, we have access to a wide array of information, such as databases containing recent listing and selling prices of similar homes in the neighborhoods, and how long these houses were on the market. The resulting analysis can help a homeowner reach a realistic and fair market value

For more information, consumers can reach the ERA Justin Realty sales team at either of their two Rutherford offices located at 118 Jackson Avenue and 57 Park Avenue and our Hoboken Meet and Greet location at 221 River Street in Hoboken or by phone at (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Additional real estate