Are Homeowners Renovating to Sell or to Stay?

ERA Justin Realtor agent Clemenza Goglucci suggested, "Over the past few years, two trends have emerged in the housing market. Home renovations have increased and inventory of homes available for sale on the market has lessened to a degree.  A normal ’housing market is defined by having a 6-month supply of homes for sale. According to a recent Existing Home Sales Report from the National Association of Realtors, we are currently at a 4.4-month supply.  This lower inventory environment has many current homeowners worried that they would be unable to find a house to buy if they were to list and sell their current house, which is causing some homeowners to consider a renovation to fit their needs. This is basically unbalanced as new listings do come on the market daily.

According to Home Advisor, homeowners spent an estimated $6,649 on home improvements over the last 12 months. If that number seems high, it also includes homeowners who recently bought fixer-uppers. One study asked the question, “Given a choice between spending a fixed amount of money on a down payment for a new house  or fixing up their current home, what would you do?”

Some of those surveyed said that they might consider a renovation of their current house. Especially if their current house fits their needs as far as space and accessibility are concerned, then a renovation could make some sense. But if renovations will end up changing the identity of the home and impact resale value, then the renovations may end up costing them more in the long run and a new purchase could be the best option."

Clemenza concluded, "With home prices increasing steadily for the last 6.5 years, homeowners have naturally gained equity that they may not even be aware of. Listing your house for sale in this environment could net you more money than your renovations otherwise would.  If you are one of the many homeowners thinking about remodeling instead of selling, let’s get together to help you make the right decision for you based on the demand for your house in today’s market."

ERA JUSTIN REALTY WELCOMES CLEMENZA GOGLUCCI

 

 ERA JUSTIN REALTY WELCOMES CLEMENZA GOGLUCCI

ERA Justin Realty is pleased to announce that our exceptional community of agents continues to grow. “We are proud to welcome Clemenza Goglucci to the ERA Justin Sales Associate family”, stated Jennifer Darby Metzger, Broker Owner at ERA Justin Realty.

Clemenza Goglucci is a lifelong Rutherford native whose family took roots in the town in 1976. With a Masters Degree in Safety Management and liaison for the Bergen County Office of Emergency Management, Clemenza is passionate about the community and helping others. He declares, “I pride myself with everything I do. My passion for people led me to careers that were solely based on interacting, networking, and helping the public. I chose ERA Justin Realty because they exemplify this passion everyday, marrying people to the community through real estate”.

Clemenza understands that buying and selling a home is oftentimes one of the biggest decisions his clients will make and assisting in that process is one of the greatest honors of his job, "It is my desire to help make each client a happy home-owner.” Clemenza continues, “I have a great vision for homes and love helping people find what they envision, whether a home, business or just facilitating what is important to them.”

Clemenza comes to ERA Justin Realty from the commercial development construction and property management fields. In his free time, he volunteers at a local Taekwondo school and helps coach Rutherford recreational sports.

Ron Darby Broker Owner added, “Clem's upbeat, friendly abilities and eagerness to help others will provide superior customer satisfaction. This is of extreme importance at our firm and he demonstrates this each day in all facets of his life. We are excited to see his commitment to community carries through in his real estate transactions.”

To see how Clemenza Goglucci can help you settle in the Rutherford community, call him at the office at 201.939.7500 or directly at 201.424.2473. ERA Justin Realty Co is conveniently located at 118 Jackson Avenue and 57 Park Avenue, in Rutherford, NJ.