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Where we will be discussing buying and selling homes in Northern NJ as well as Marketing advice for Real Estate agents
Nutley Real Estate Show

Top Home Buying Fears For First Time Home Buyers

Here are the top home buying fears when buying a home in Nutley

Home Buying Fears1. Is a home really a good investment, what happens if there is a financial crisis?

Unlike the stock market selling a home is not like selling a share of stock it just does not happen that fast and during a financial crisis home owners don’t usually tend to usually panic selling it does not set into the Real Estate market in Nutley or anywhere for that matter, over the last 100 years Real Estate in the country has gone up and down its usually a 17-20 year cycle the one good thing about home ownership is that everyone needs a roof over their heads whether it’s a bad economy or good economy.

2. I don’t know what to buy? there are so many different choices out there

Well now that depends on your lifestyle, are you a single person that is bust with their career and social life? then a nice townhouse in Cambridge Heights in Nutley may be what you need, low maintenance, gated community with Gym, Pool and Tennis Courts or maybe you have a family already and a nice 3 Bedroom 2 Bath home in the Spring Garden section of town may be what you want either way we are your trusted source as a Realtor office we can guide you consult with you and help you find the perfect home.

3. How do I know if I qualify for a mortgage?

Mortgages in Nutley

That is rather simple we work with qualified mortgage companies that can review your finances and determine what would be the best mortgage for you and also it well help you decide how much of a home you can afford, we work closely with your mortgage rep to help you find tat perfect home within that perfect budget, your mortgage person can also help and qualify condo complexes as well to make sure they are financially stable. The best part is we can sit down with you and your mortgage person and pre-qualify you all for FREE.

4. How do I come up with a down payment for my new home in Nutley?

There are some many different mortgage payments out there from VA no down payment loans, USDA loans which are for rural areas and also 100% financing, there there are FHA Loans, Conventional Loans, Adjustable Rate loans and more, the best thing to do is sit down with your mortgage person and have them explain all the different programs, my advice would be to do a 20% down conventional loan, now  you can get the money as a gift from a relative you can save it and you can also ask for a concession when you put an offer on a home as well.

5. What happens if  I sign a contract and then change my mind?

Initially you have 3 days to change your mind, you can also direct your attorney to kill the deal during attorney review at that point you are not Under Contract, there are a lot of safety nets when buying a home these days, Attorney Review, Home Inspections, Appraisals, etc. so you don’t need to be fearful when you purchase a home you should have a team of trusted advisors Realtor, Attorney & Mortgage person helping you every step of the way.

6. What about home repairs? I know nothing about taking care of a home

Home Warranty

Quite frankly you learn! you are now a home owner and now you have to learn some basic maintenance tips, of course there will be times when you have to call in a professional from Plumbers to Painters and your local Realtor is a great resource. I also recommend to my first time home buyers that they should purchase a home warranty as well at least for the first year to learn about your new home.

7. What if the home I buy is too expensive for me?

That should not happen your mortgage company will not give you a loan if it is going to be more than you can afford, the loans of today are not like the loans pre 2008, the banks are now very tight with their lending practices these days, of course they may be other circumstances that may make the home unaffordable any longer, like a job loss, change of income etc. but we help many home owners that get stuck and we help them work with the bank to short sale the home as well you do have options if that does happen.

Matthew De Fede Broker/Owner of Realty Executives Elite Homes in Nutley

 

Open House Sunday 12-3pm 85 Brookline Ave. Nutley

Open-House

Buying A Condo in Nutley NJ

5 Buyer Incentives That Can Help You Sell Your Home Faster in Nutley

Happy Mixed Race Couple in Front of Sold Home For Sale Real Estate Sign and House.

Your home in Nutley is finally on the market and its time to begin the selling process. Now that it its listed, attracting the attention of genuine buyers should be your next important focus. Closing this deal in the least amount of time possible will give you a greater ability to coordinate the purchase of a new home in Nutley. Allowing you to consider optimal tax benefits or make other important financial decisions. Fortunately, there are a number of buyer incentives that you can supply to help make buyers take immediate action.

Tack On A Few Extras

Sellers in Ntley  are commonly advised to depersonalize their spaces as much as possible before showing them. Staging a home correctly however, requires a few decorative elements. Take note when prospective buyers show a special interest in any window treatments, furnishings or outdoor features that you have no intention of taking with you. Add-ons like these will “sweeten the deal”, irrespective of their actual value. People like feeling as though they’re getting something of value for free.  READ MORE about selling your home in Nutley

Open Houses in Nutley & Caldwell NJ

I’m holding 2 great open houses today from 12-4pm, 198 Lakeside Dr. in Nutley & 72 Forest Ave. in Caldwell NJ

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5 Reasons to Hire a Nutley Real Estate Professional

Nutley Realtor

Whether you are buying or selling a home in Nutley, it can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.

The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but have rather been strengthened due to the projections of higher mortgage interest rates & home prices as the market continues to recover. 

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. Ok, so you found your dream house, now what?

According to the Orlando Regional REALTOR Association, there are over 230 possible actions that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, who knows what these actions are to make sure that you acquire your dream?

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. However, after looking at the list of parties that you need to be prepared to negotiate with, you’ll realize the value in selecting a Real Estate Professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people that you will have to be knowledgeable with and answer to, during the process.

4. What is the home you’re buying/selling in Nutley really worth?

It is important for your home to be priced correctly from the start to attract the right buyers and shorten the time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to the National Association of REALTORS“the typical FSBO home sold for $184,000 compared to $230,000 among agent-assisted home sales.” Get the most out of your transaction by hiring a professional. 

5. Do you know what’s really going on in the market?

There is so much information out there on the news and the internet about home sales, prices, mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively price your home correctly at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a low-ball offer?

Dave Ramsey, the financial guru advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has their finger on the pulse of the market will make your buying/selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line:

You wouldn’t replace the engine in your car without a trusted mechanic. Why would you make one of your most important financial decisions of your life without hiring a Nutley Real Estate Professional?

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    5 Demands to Make on Your Real Nutey Estate Agent

    Megaphone Team

    Are you thinking of selling your house in Nutley? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just like a great doctor or great accountant.

    You want to deal with one of the best agents in Nutley. To do this, you must be able to distinguish the average agent from the great one.

    Here are the top 5 demands to make of your Real Estate Agent when selling your house:

    1. Tell the truth about the price

    Too many agents in Nutley  just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a buyer and then to the bank.

    The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. A recent survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the listing.

    2. Understand the timetable with which your family is dealing

    You will be moving your family to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan.

    This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. You agent cannot pick the exact date of your move, but they should exert any influence they can, to make it work.

    3. Remove as many of the challenges as possible

    It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

    Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them and their family  (commission, length, etc.), don’t expect them to turn into Super hero when they are negotiating for you and your family with your buyer.

    4. Help with the relocation

    If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.

    5. Get the house SOLD!

    There is a reason you are putting yourself and your family through the process of moving.

    You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.

    Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT IN NUTLEY!

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