Nutley Real Estate

The Nutley Real Estate Report

More Home for a Lower Cost of Housing in Nutley NJ

What if you could live in a larger home in Nutley and possibly newer home for less than you are currently? Would you consider moving? Do you want to hear more?

Interest rates, while they’re expected to go up, actually took a small dip and are still hovering at the 4% or below mark for a 30 year mortgage and almost one percent less for a 15 year term.

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Let’s assume that you have a $225,000 mortgage currently at 6% which has a principal and interest payment of $1,348.99. With a 4% rate, you could have a $282,561 mortgage with the same payment. A $57,000 more expensive home could help you get what you need most such as more square footage or a different location or a newer home.

If you’re going to be making that payment for years to come, why not allow lower interest rates to help you get the features you want in your Nutley home without having to necessarily pay a higher payment. Taking that logic a little bit further, let’s see how utilities can make a difference too.

A newer home in Nutley could easily have lower monthly utility costs than your current home due to being more energy efficient. Construction materials, windows, doors, insulation, modern HVAC systems and energy efficient appliances all contribute to lower utility costs. A new home with these advantages could easily save a homeowner up to 25-50% on utilities for the same size home.

The concept is simple: get the most home you can in Nutley for the amount you spend on the payment and utilities. It will take some investigation and your real estate professional can help.

Wait a Year to Buy in Nutley…It Won’t Matter?

There is a frequently quoted expression “more money has been lost from indecision than was ever lost from making a bad decision.” Regardless of the extent of its accuracy, most people can recall when procrastination has cost them money.

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There are markets so short of inventory that buyers have become frustrated after losing bids for several homes in Nutley and have decided to wait until more homes come on the market. In the meantime, the shortage of homes in Nutley is driving the prices up more by the month.

There are buyers who can’t find the home in Nutley what they want for the price they want to pay and think that waiting will somehow change things. In some cases, what they want just keeps moving farther and farther away from them.

The other dynamic in play is, of course, the mortgage rates. While they’ve remained low for several years, most experts agree that they’re going to rise; it’s just a matter of when. If you look at what positive increases in both of these would do, it becomes apparent that waiting will matter.

A $250,000 home purchased today on a FHA loan at 4% for 30 years will have a principal and interest payment of $1,151.76. If a buyer were to wait a year and the price increased 5% and the rate went up by 1%, the payment would increase by over $200 a month. In a seven year period, the increased payment alone would cost the buyer over $17,000.

Use the Cost of Waiting to Buy calculator to see how much it will matter based on the home you want to buy and what you think the prices and rates will do in the next year.

The State of the Nutley Real Estate Market

The Real Estate Market in Nutley, Nutley Real Estate is strong, the issue we are having now is that we need inventory and homes to sell in Nutley. We focus heavily on NYC buyers that are looking to move into town and Nutley is in demand these days!

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.

The Nutley Real Estate Market

We have a very strong online presence at that is where 99% of the buyers are coming from, 70%-80% of the home buyers in Nutley are New York City Commuters from the financial and tech centers, these are professionals with good incomes and young professionals looking to start a family, Nutley has a great school system as well as a great Park system.

Just Listed in Nutley on Crestwood Ave

Just Listed in Nutley on Crestwood Ave. Nutley Home For Sale, 4 Bedroom 2 Bath, this home has everything a new home buyer could want, Whole house generator as well as a home warranty for more info on this home call us at 973-846-0065/

Just Listed in Nutley NJ Nutley Home For Sale

Nutley Real Estate Heading in the “Right Direction”

Right-Direction

The housing market in Nutley has taken a great turn toward recovery over the last few years. The opinions of the American public toward real estate took longer to recover, until recently.

For the first time since 2006, Americans have an overall positive view of real estate, giving the industry a 12% positive ranking in a Gallup poll.

Americans were asked to rate 24 different business sectors and industries on a five-point scale ranging from “very positive” to “very negative.” The poll was first conducted in 2001, and has been used as an indicator of “Americans’ overall attitudes toward each industry”.

Gallup-Poll-Graph

Americans’ view of the real estate industry worsened from 2003 to the -40% plummet of 2008.  Gallup offers some insight into the reason for decline:

Prices Dropped

“In late 2006, real estate prices in the U.S. began falling rapidly, and continued to drop. Many homeowners saw their home values plummet, likely contributing to real estate’s image taking a hard hit.”

Housing Bubble

“The large drops in the positive images of banking and real estate in 2008 and 2009 reflect both industries’ close ties to the recession, which was precipitated in large part because of the mortgage-related housing bubble.”

Bottom Line

“Although the image of real estate remains below the average of 24 industries Gallup has tracked, the sharp recovery from previous extreme low points suggests it is heading in the right direction.”

If the news of recovery has you considering home ownership in Nutley, meet with a local real estate professional to discuss the opportunities that exist in today’s market.

How buying or selling a home is like being in the Super Bowl

How buying or selling a home is like being in the Super Bowl

Super Bowl VS Real Estate

So this week is the biggest game of the year!  The Super Bowl!  It is the most watched sporting event on TV. Even if you don’t watch football regularly, you watch the Super Bowl. Super Bowl VS Real Estate. So what does real estate in Nutley and the Super Bowl have in common you ask? The biggest game of the year, so much at stake, two great teams on opposing sides, fumbles, stellar coaches…

Super Bowl VS Real Estate

Just like the biggest game of the year, your real estate in  transaction in Nutley, whether your buying a home or selling a home in Nutley, can be your biggest transaction of the year. There is always a lot at stake, always 2 sides to the transaction, sometimes there may be a fumble or two, and hopefully there are stellar real estate agents in Nutley representing the buyer and seller.

But that is where the similarity ends, while in the Super Bowl there is always a clear winner and loser, in a real estate transaction there are only both winners. In a successful transaction, while there may be compromises on each side, both buyer and seller should be satisfied in the end.

So when its time for you to enter the playing field of real estate as a buyer or seller in Nutley NJ, be sure you follow these 3 tips to make sure you come out a winner.

Hire a stellar coach. Using a real estate professional will mean that you have someone on your side to help you negotiate the best for you and assist you through out the transaction. Always check their reviews…See Matthew DeFede’s reviews here!

Get your game face on.  If you are buying, get your financials in order and get pre-qualified with a lender. If you are selling a home in Nutley, make sure you are serious and get a current market analysis for what your home is worth.

Expect a few fumbles and flags on the field.  Even a successful transaction may have a few unexpected items that arise in the process. A great real estate agent will be creative and help you through these issues to successful close.

Nutley Real Estate: What Homes Are Sellling For?

How is the Market doing in Nutley NJ?

 

Price Trends – Sold vs. Listed

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.Nutley Homes For Sale

Search For Homes in Nutley | Search For Homes in Belleville | Search For Homes In Clifton

 

Market Inventory Trends

The number of active listings in Nutley (07110) dropped by 20.2% from the previous month.

The median number of days active properties have been listed is 61. This is significantly shorter than the national average.

Nutley Real Estate

Property Ownership

The percent of unoccupied properties is very low in Nutley (07110) . It is -12.74% below the national average.

The percent of rental properties in Nutley (07110) is 15.87% above the national average which is typical for urban areas.

Nutley  Homes For Sale

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

$362,660
Median Listing Price
 61
Median Days on Market
128
Active Listings
Not Available
Distressed Listings
(foreclosures and short sales)

Homes & Apartments For Rent in Nutley New Jersey

See Nutley Homes For Sale

See Nutley Homes For Sale

Join Me on Facebook Discussing Everything About Nutley Real Estate & Homes For Sale!

Realty Executives Nutley NJ

Agents: Looking to join a company that REALLY helps you grow your business?

Contact: Matthew DeFede of Realty Executives Today! 973-846-0065

Related Blogs

    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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