What do Fidget Spinners & Home Values in Nutley Have in Common?

Trends! yes, that is correct just like those little Fidget Spinners the kids are playing with today so does home values in Nutley.

2 Months ago no one even knew what a Fidget Spinners was now they are all over the place, you can buy them everywhere even at Petracco’s Deli in Nutley people jumped on a trend and then its takes off!

Same goes for housing the law of supply and demand kicks in and people want what they cannot have especially in a town where the inventory is low and the demand is high, so how does this trend affect a home buyer in Nutley? well, it means that you’re going to pay more for a home as long as the trend for homes in Nutley is in an upward direction.

Home Trends In Nutley NJFollow Your Towns Home Values Here: http://www.njhometrends.com

What does it mean for home sellers in Nutley? well, it means that you can get more for your home as the trend keeps moving upward as well, so what are you to do Nutley home seller and Nutley home buyer? SELL, SELL SELL!!!!!! BUY!!!!, BUY!!!!!, BUY!!! and when is the best time to do THAT WOULD BE NOW! either way, call me for all your Real Estate needs in Nutley.

Matthew De Fede

Realty Executives Elite Homes

973-846-0065

mdefede@gmail.com

48 Stager – OPEN HOUSE, July 16, Sunday 1:00 PM – 4:00 PM

Are you Using Virtual Reality to Win More Buyers and Sellers? Learn How to Get Started

Matterport, a virtual reality company, contributed to this post to let agents and brokers know about a free e-book on using virtual reality in real estate that it’s making available.

Top real estate agents and brokers agree—virtual reality is the future of real estate. With incredible ease and accessibility, home buyers can have the immersive experience of walking through a home and its surrounding neighborhood, without leaving the comfort of their couch. Increasingly, top producers are using virtual reality to differentiate their marketing offering and really impress buyers and sellers alike.
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“We win nearly every listing presentation because we come in with Matterport 3D and VR technology,” according to Matt Altman, star of Bravo’s Million Dollar Listing. “If you don’t have it, you have no chance, especially in luxury. The value to us – it’s priceless.”

Matterport, a virtual reality company that works with real estate brokers and agents to increase leads and inbound interest with immersive digital experiences, has published a free e-book to help you understand the state of VR in real estate, and how to apply it to your own business. Without a doubt, letting home sellers know you can give their listing a virtual reality treatment is a way to set yourself apart. Although, as the company points out, given how quickly virtual reality is being adopted in real estate, it might not be too long before the technology is standard practice. Use it or be left behind.

You can get more information on the e-book on the company’s website. It’s called 10 Ways to Use VR to Win Listings in Real Estate. Look out for more webinars and educational programs about interactive technology in real estate from Matterport – and download this ebook today to understand specifically how to start driving leads and sales results with virtual reality.

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Social Media’s Power Is Tempered by Risk, Expert Says

Even as organizations have embraced tweets, Facebook posts and other social media tools as central elements of their communications strategies, many are not paying enough attention to making sure the information they put out sends the message they intend. The result has been a slew of embarrassing, offensive and otherwise inappropriate information that organizations have had to remove and apologize for—problems that could have been avoided had the people who posted the material had proper training and gotten approval for the information before it went up.

That was the message Don Heider, dean of the School of Communication at Loyola University Chicago and a social media ethics expert, shared with nearly 200 REALTOR® association communication staff who gathered last week in Chicago for the NAR Communication Directors Institute.

NAR Communication Directors Institute

“There seems to be a lack of training and editing,” an oversight that is leading people who handle social media to post information that, while perhaps factually correct, can be taken out of context and cause offense, says Heider.

Pointing to a series of what he terms social media “epic fails,” where prominent organizations or individuals have had to retract posts and apologize for appearing tone deaf, Heider says people who handle social media for companies and nonprofit organizations often don’t have the life experience to know that an image they post or a comment they make may be inappropriate or even offensive.

“We live in a world now where one tweet and your life can be over,” says Heider, co-founder of the Loyola’s Center for Digital Ethics & Policy.

Don Heider, dean of the School of Communication at Loyola University Chicago, speaks during the 2017 NAR Communication Directors Institute

Don Heider, dean of the School of Communication at Loyola University Chicago, speaks during the 2017 NAR Communication Directors Institute

The challenge organizations face is that in the social media age, they often can’t risk waiting to post information, Heider says. This means that developing an effective approval system requires striking a balance between ensuring accuracy and proper context with the need to get material out as quickly as possible. “If you’re trying to get stuff out, it can’t sit on somebody’s desk for a week. That system for editing and approvals can’t be so onerous that you never get anything out. So it has to be quick. You have to have somebody who will approve it in a timely fashion.”

Heider suggests developing a set of guidelines that govern what your organization posts on social media. In addition, make sure you have a diverse team that can evaluate information from multiple points of view to keep from inadvertently posting something that could be taken the wrong way be someone, he adds.

It’s also essential to monitor what people are saying about your organization on social media, Heider advises. “Our worst nightmare as communicators is not to be ahead of the story. We want to know as soon as possible. The most devastating cases happen when something trends and we don’t know it’s trending.”

Also be sure to have a response plan in place ahead of time so you can act if someone in your organization posts something that shouldn’t have gone out, or information from another source demands a response, Heider says. “Mistakes happen. I get that. But it’s how we respond to the mistake and how quickly we respond and how sincerely we respond,” he says. “If we don’t know about it, we can’t do any damage control.

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Learn How Tax Reform Might Affect Home Sales

Health care is on top of the Senate’s agenda right now but tax reform is not far behind. The exact shape of reform won’t be known until a proposal is put forward, but lawmakers in the House several months ago released a reform concept that raises serious concerns for the real estate industry. The administration has put something out as well that, in its broad outlines, shares many of the concepts of the House plan.

hNAR has ben communicating its concerns about the concepts for some time now, but it’s important for you, as a real estate professional, to have a good sense of what’s being talked about and to ask hard questions on behalf of your industry. That’s why NAR is hosting a live webcast on Wednesday, July 12, that will give you a chance to ask questions about the House and administration concepts.

In broad outline, the House concept 1) doubles the standard deduction, 2) eliminates itemized deductions except those for mortgage interest and charitable giving, and 3) lowers tax rates and increases the  number of brackets.

videoOn the face of it, it’s good to lower rates and double the standard deduction. But for most households, those two changes, when combined with other changes that are contemplated, are not enough to offset what’s lost by the elimination of most itemized deductions. And yet most households will still end up taking the standard deduction as the better of the two choices.

Of course, any tax reform that’s proposed will be far more complicated than this simple scenario. There are many other factors included in the House concept that would come into play, but analyses NAR has had done are clear that most middle-income households will pay more taxes and receive no benefit from investing in their community as a homeowner.

What’s important is to learn about these reform concepts for yourself so you can decide what makes sense and what doesn’t. The webcast NAR is hosting is intended to help you do that. Here’s information on registering for it:

What Tax Reform Means for Real Estate
Live webcast
Wednesday, July 12, 2 p.m., Eastern time
Presenters:
Evan Liddiard, NAR Senior Legislative Policy Representative
Danielle Hale, NAR Managing Director of Housing Research
Sign up

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RE/MAX Founder Discusses Challenges Facing Housing Market

As co-founder of a real estate organization that has grown over more than forty years from a single office in Denver into a global empire that today counts more than 100,000 agents, RE/MAX Chairman and Co-CEO Dave Liniger enjoys a unique view of the housing industry.

Among his observations is that despite the advances in technology that have swept the business world over the past half-century, the essence of the real estate industry has remained the same: It’s all about people.

RE/MAX co-founder Dave Liniger speaks with TV host Wayne Brady at the 2017 RE/MAX R4 convention in Las Vegas

RE/MAX co-founder Dave Liniger, left, speaks with TV host Wayne Brady, right, at the 2017 RE/MAX R4 convention in Las Vegas

“There’s nothing like being an old man in an old industry pontificating,” says Liniger. “But it’s fun to see it from my eyes … to have seen all the changes and all the people that said they were going to change your industry and all the things that were going to revolutionize the industry. The end result is it’s still a personal relationship between a real estate agent and a customer.”

But while the fundamental role agents play may not have changed, Liniger says the housing market is undergoing a shift unlike anything he has seen in his career because homeowners have become accustomed to rock-bottom mortgage rates and builders are not building enough homes to meet demand. These factors have caused many people to shy away from selling their homes and moving up, crimping the availability of less-expensive homes for other buyers, he says.

To deal with the inventory crunch, Liniger, who spoke during an interview in his office at RE/MAX’s headquarters in Denver, advises real estate professionals to find creative ways to find homes for clients to buy. Patience is also essential, he says.

“You can’t create new homes, but you can create resales, says Liniger, who founded RE/MAX in 1973 with his wife, Gail. “And so the agents have to work their previous customers, let them know that they can move up, let them know that it is a good market to sell. But most of it is just time … it’s going to be OK, and it will work its way out.”

Even if new construction picks up, people who are trying to enter the housing market are generally better off buying an existing property than a freshly built home, Liniger says.

“The problem with brand new is it’s shiny and it’s very pretty, but you’ve got to pay for the landscaping, and you’ve got to put in the plants, and you’ve got to put up the drapes, and you’ve got to do all this stuff that stretches a first-time buyer,” he says. “You know a first-time buyer is struggling to get the down payment, let alone come in and add $10,000 or $20,000 more to making the house livable. And so for first time buyers, resale is a much better deal.”

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Is the Nutley Real Estate Market Really On Fire? Maybe…Maybe Not…

I hear people in Nutley chatting a lot lately as to the value of their home in Nutley, want to know how the Nutley market is doing? well take a look below

Housing Market Trends – Sold vs. Listed in Nutley NJ

Understand the difference between “listing prices” (what sellers are asking for) and “sold prices” (what buyers are willing to pay).

By comparing these price trends, you’ll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.

Some sales are not immediately available from public records. As they become available, the data are updated.

Chart Temporarily Unavailable

 

 

Housing Inventory Trends in Nutley

Chart Temporarily Unavailable

The number of active listings in NUTLEY (07110) increased by 11.1% from the previous month.

The median number of days active properties have been listed is 42. This is significantly shorter than the national average.

The number of sales in March dropped by 55.6% from the previous month.

 

Property Ownership

Chart Temporarily Unavailable

The percent of unoccupied properties is very low in NUTLEY (07110) . It is -11.24% below the national average.

The percent of rental properties in NUTLEY (07110) is 12.34% above the national average which is typical for urban areas.

 

Additional Statistics for Single Family Homes and Condos in NUTLEY, NJ

$425,380 -Median Listing Price

42 – Median Days on Market
154- Active Listings

1.3% – Distressed Listings
(foreclosures and short sales)

Find Out What Your Home May Be Worth in Nutley NJ Here

Largest Source of Mortgage Funds in U.S. Tries to Help Homebuyers Struggling With Student Debt

Fannie Mae has come to recognize the problem people are facing when they’d like to buy a house but they’re hemmed in by tens of thousands of dollars of student loan debt. First, in calculating loan applicant’s debt-to-income ratio, the company is no longer factoring in debt that’s being paid by someone else. That means, for home buyers whose parents are making payments on their student debt, those payments won’t count against their DTI calculation. Other debt payments are also being taken out of the calculation if someone else is making the payments. So, if loan applicants are getting their car payments taken care of by someone else, those payments are taken out of their DTI calculation, too.

VRE 69 stillSecond, if borrowers are making student loan payments that are smaller than what their original repayment agreement calls for, those smaller payments are factored into DTI calculation rather than the original payment amount. That means if the borrower is paying $100 a month rather than the original $500 a month that the repayment agreement called for, only the $100 a month is factored into DTI. Why might  borrowers be paying less than the original amount? Because a number of public entities have created programs to help people who are faced with making student loan payments but aren’t making much money. They idea is, once they start making more money, they can start paying their original payment amount. Prior to this change, Fannie recognized only the original payment terms when calculating DTI.

Third, existing homeowners can get improved repayment terms on cash-out refinancing if the loan is for paying down student debt. This change is really for parents who want to help their kids retire their debt or for people who already own a home and want to get rid of their student debt.

All three of the changes are already in effect, so if you have homebuyers who tried to get a home mortgage loan a few months ago and couldn’t because their DTI was too high, there’s a real chance they can reapply and get different results. That’s something to let your customers know about.

But there is more change coming, too. At the end of July, Fannie Mae’s maximum allowable DTI will rise to 50 percent from 45 percent. Once that change takes effect, loan applicants who have really struggled to meet DTI requirements now have an even better chance of  getting a loan approved.

The changes are detailed in the latest Voice for Real Estate news video from NAR. Also covered: Efforts by NAR and the federal government to increase the national homeownership rate, which has been stuck at a 50-year low since the downturn, and the increasing interest among foreign investors in smaller commercial properties in markets outside the big metro areas.

Access and share the video.

 

 

 

 

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200 Nutley Ave. 5 Bedroom 4.5 Bath For Sale in Nutley

Nutley NJ The Next Silicon Alley?

Nutley the next silicon valley?Will Nutley become the next Silicon Alley on the East Coast?

During the Tech Boom of the late 90’s and early 2000’s California had Silicon Valley and New York City had Silicon Alley in downtown NYC, things have sure changed since then and technology has made its way into every aspect of our lives and small family towns like Nutley  have not been spared either, we are looking at the opportunity of becoming a major technology community in Nutley NJ with the repurposing of the former ROCHE campus.

Technology and Health Care companies have already expressed interest in the campus and it’s proximity to NYC makes it even more appealing, the new Medical School is slated to open the end of 2018 which in my opinion will bring and economic uplift to the town of Nutley as well as a spike in demand for housing and rental units.

Imagine if you could a bustling Medical School with several thousand students and companies with the likes of GOOGLE, Yahoo & Apple employing all local workers with good salaries, good jobs Imagine the opportunity we have as a town to harness all the resources these companies have to offer beyond money that will filter through the town but the possibilities are endless as to what we can do in our 3 square miles, I consider it the re-birth of Nutly an already great family friendly town and I look forward to working in this town and it’s people to help make the town and even greater place to live.

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