Home Prices in Nutley NJ for November 2012

Home Prices in Nutley NJ for November 2012

Real Estate Market Data for Nutley, NJ provided by Matthew DeFede of Coldwel Banker Residential

Nutley Home Prices

Nutley Home Prices

We have seen a slight dip in home prices in Nutley NJ which points out some great bargains at the moment, I expect the home prices to start reversing this trend just because of the presidential election being over and also Nutley still being a very desirable area to buy a home in as well as the dwindling inventory.

Nutley Real Estate Report Summary

Find homes in Nutley NJ

The median list price in November for single family homes in Nutley is $338,999. The list prices dropped by -0.29% from the previous month.

The price per square foot for listings in this area is $172.

The median sale price in December for single family homes is $225,500. The sale prices dropped by -44.32% from the previous month.

 

Find Homes For Sale In Nutley NJ

Visit my Website to Search for homes in Nutley NJ or to be notified when Nutley Homes come on the market.

To find out what your home is worth in the current market email me or call 973-846-0065


Matthew De Fede SFR & CNE

COLDWELL BANKER Residential Brokerage

homes for sale in nutley nj

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      When you check into the latest realty listings in Nutley, you come away with an accurate snapshot our current market. But when you are thinking of the future, and where values might be headed, it’s also useful to think nationally.

      Useful, yes: but careful! There is a tendency to mentally equate the equities market averages – Dow Jones, S&P, Nasdaq – with the real estate market. They are certainly related: one of the causes of the 2008 Dow plunge was the collapse of the subprime mortgage market, which led to the glut of foreclosed homes in realty listings. Yet, the two markets are far from identical.

      According to Yale University professor Robert Shiller, the number one driver of the value of realty listings is momentum. If the prices of homes are following an upward trend, they are not likely to head into a sudden crash. The stock market is much more susceptible to rapid run-ups and downturns. When there is a great deal of volatility in the stock market, consumer confidence might experience a dip, which might in turn cause a drop in home sales – but disregarding the time differential would be a mistake.

      Shiller also points to a second key driver of the real estate market: the unemployment rate. When the UE rate is high, people are less likely to buy homes — so the prices you find in the realty listings tends to drop. A long-term bear market can itself create upward pressure on the unemployment rate, since companies hesitate to spend precious capital on hiring new employees. Yet, when that trend reverses, employment rates may improve ahead of the curve.Nutley Real Estate Search

      Another takeaway is that while the stock market does not directly correlate with housing prices on your street, consumer confidence levels can. It is most realistic to be aware of all the above factors – especially the true relationship between the equities and real estate markets — when developing a home pricing strategy.

      Want to hear more about what is influencing realty listings in Nutley? Give me a call;  I’m happy to share the latest knowledge about local market conditions as we head into the winter selling season!

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        Looking for Discounted Real Estate Commissons in NJ? If your thinking about selling your home in NJ in today’s market you really need to consider whether or not your going to hire a Discounted Broker of a Full Service Broker, Yes there is a difference, you may be thinking that you can save money using a broker that will take a lower commission but what you don’t realize is that Discounted fees mean discounted marketing for your home.

        Think about this a full service broker would be willing to spend more money marketing and servicing your listing because they have a large budget to do so, a discounted broker is going to spend less money marketing and selling your home because they have less money it’s that simple.

        In today’s economic climate you need to position your home in the best light and to outpace your competition, if your neighbors are selling their home for $300k and your selling your home for $300k and your neighbor is using a full service agency and paying a 5% commission and your paying a discounted broker a 4% commission who do you think will sell their home first? well if you understand they way commission splits work the 4% listing will only be paying out 2% to a participating buyers agent and the 5% listing will be paying 2.5% out to a buyers agent, it;s only human nature to gravitate toward the listing paying more money right?

        Also the 5% listing broker will most likely so more marketing because they have that extra money to use in the marketing of your home, Direct Mail, Website, Newspaper Ads all cost money and the more Marketing you have the better. That 1% your trying to save on a $300k home ($3000) may cost you triple that in the long run when your home becomes stale on the market and that listing agent wants a price reduction of 10k to get the home some buyers.

        So before you sign on the dotted line and commit yourself to a Discounted broker think twice who it will benefit, the average listing gets brokers another 2-3 listings on the average and they may be taking your home not to sell it but to help them market themselves.

        If you have any more questions about selling your home feel free to call me at 973-846-0065

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          What all new and long-time Nutley landlords have in common is the simple need to secure a trouble-free tenancy – which in many cases means securing professional property management. If you have a rental property yet are on the fence about the cost, some of the considerations that point to a professional for your property management solution look like these:

          • A reputable local property management company knows how to find and screen qualified tenants at the same time they are complying with local and federal Fair Housing laws. It amounts to protecting you from potential lawsuits.
          • Reputable property managers will take care of rental collections, protecting the cash flow that makes your investment worthwhile.
          • Tenants who are handled professionally tend to stay longer – and that cuts down on costly turnover expenses.
          • Experienced property management companies make sure that repair and maintenance work is completed promptly by licensed and insured professionals. This protects your asset while minimizing potential liability.

          Property management may not seem to be the lowest cost solution, but for landlords who cannot spare the time to manage their property legally and carefully, finding one of the stellar property management companies in town is the best bet to protect that underlying asset and keep cash flowing.  If you are one of those new ‘accidental’ landlords or are considering buying or selling an investment property, I am happy to share some of the best contacts in the industry!

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                  And especially on Thanksgiving, I’m grateful for…my kitchen!  Kitchens have become the center of activity in today’s home, whether during a casual weeknight family meal or a grand Thanksgiving feast for twelve. More and more of our local real estate listings reflect just that: focused interest on the kitchen.  Here are some relevant details that can draw interest to real estate listings in Nutley:

                  Floorplan – Is the kitchen open?  Walled-off?   Great yard view?  Photos should be selected to highlight attractive layouts for effective real estate listings.

                  Appliances – New?  Desired brand names? It’s amazing how prominent those concerns have become as interest in kitchens has been reflected in the real estate listings.

                  Finish – Have safety touches been added to the kitchen?  Childproofed kitchen is a two-word real estate listings highlight worth featuring in any family-friendly neighborhood. One of the easiest updates is the addition of new hardware — which can also make it harder for little hands to pull open cabinets while the adults are busy baking the world’s best pumpkin pie!

                  All kidding aside, I am thankful for all that we have here in town. This Thanksgiving, Sandy has reminded us of all those who will be spending this holiday without a familiar place to come home to.  If you would like to help Hurricane Sandy’s victims, a Red Cross page has been created to make donating easy: http://www.redcross.org/hurricane-sandy

                  Here’s to a safe and happy Nutley Thanksgiving!

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                    Before making a final judgment on which homes bear a closer look, the most successful homebuyers also factor in qualities that may not be at the top of their own personal priorities list, yet which make a difference to the majority of homebuyers. In other words, they keep in mind the most important qualities that add value in market terms – that add investment value to homes that are principally your personal residential choice. Some of the more important ones:

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                      • Taxes impact the overall cost of long-term cost – and when homes are listed, those figures are significantly displayed. Also important is whether there are any pending issues you should be aware of — like a sewer bond or other pending taxes.
                      • Condition will become a major factor in years to come — forward thinking will pay off in terms of overall value. A 20-yr-old water heater, for example, is going to cost sooner rather than later.  Homes with excellent roof and foundation condition can add exceptional long-term value.
                      • Nutley homes with potential are homes with unrealized value. With smaller properties, it’s worthwhile to consider how doable it would be to add rooms or expand its square footage.  Even if you don’t end up adding square footage, if homes are small for the neighborhood, a future buyer might.

                    This November’s historically low mortgage rates make it a terrific time to give me a call. Together, we’ll find the Nutley homes that are good fits for your family – as well as great long-term values.

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