Thursday, April 11, 2019

What Was the #1 'How to save for" Google Question in the Past Year?



What were Americans most curious about savings-wise in the last year? According to Marketwatch, the #1 "how to save for" search was how to save for a HOUSE! Buying a home still remains a top American dream, though the number of people who own homes have declined while prices continue to generally appreciate.

In our area of New Jersey, we are seeing a strong market for many sellers. Not only is this due to typical Spring activity, but there are many first time buyers looking right now as interest rates remain low and people's savings rebound and grow. Many listings in our area are selling quickly and sometimes with multiple offers!

Here are some of the homes we listed recently that received multiple offers:





If you're thinking of selling, now is a great time. Contact us to see how much your home might sell for.

If you're thinking of buying, you want an experienced agent to guide you on how much your dream home is really worth according to the local market and of course to negotiate & fight for you in a multiple offer situation. We are experts in helping our buyers win their bids!



With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.

www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Wednesday, March 27, 2019

Data Says April Is The Best Month To List Your Home For Sale



The spring housing market is off to the races! The inventory of homes for sale is increasing, buyers are out in force, and interest rates have remained low, piquing the interest of buyers and sellers previously on the fence about making a move.

New research from realtor.com shows that the first week of April is actually the best time to list your house for sale! The report used “trends in median listing prices, views per property on realtor.com, home price drops, median days on market, and number of listings on the market over the last three years,” to determine a ranking for every week of the year.

Listing your home in the first week of April contributes 14x more property views, 5% less competition from other home sellers, and results in the home being sold 6 days faster!

Below is a graph indicating the average score for each month of the year.







It should come as no surprise that April and May dominate as the top months to sell. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, often leading to bidding wars.

However, there is one caveat worth mentioning. When broken down by metro, realtor.com noticed that while warmer climates share an overall trend, they have different top sales months. The best month to get the most exposure in Miami, FL, for instance, is August, while in Phoenix, AZ, June leads the charge.

If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, 41% of homes sold last month were on the market for less than 30 days! If you list now, you’ll have a really good chance to sell in April or May, setting yourself up for the most exposure!

Bottom Line

Contact a local real estate professional who can show you the market conditions in your area to get the most exposure to the buyers ready and willing to make a move!




With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.

www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Saturday, March 23, 2019

20 Tips for Preparing Your House for Sale This Spring

Some Highlights:

  • When listing your house for sale, your top goal will be to get the home sold for the best price possible!
  • There are many small projects that you can do to ensure this happens!
  • For specific suggestions custom to your home, contact us for a free consultation.  We'll use our knowledge about the latest home trends and local demands to help get your house ready for market.








With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.

www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Friday, March 8, 2019

New Exclusive: Outstanding Colonial in Whippany, New Jersey

New Exclusive in Whippany, New Jersey

5 BD, 3 BA, 2-Car Garage

Welcome to our sneak peek of this gorgeous 5 BD, 3 BA Colonial in Whippany (Hanover Twp.), New Jersey! With its handsome brick front and meticulously maintained landscaping (including a bloom of roses each year), this home boasts fantastic curb appeal! Plus its enviable location in Whippany means lower property taxes compared to other nearby towns, excellent schools, and easy access to many nearby freeways, shopping, and recreation.

This home delights in every room! First enter into a bright 2-story foyer. From here you can see the lovely hardwood and tile floors and crown moldings that enhance the 1st floor. Formal living & dining rooms flank the foyer and supply abundant space for entertaining. The living room features a bay window (as does the dining room) and double French doors to the family room and its marble-surround fireplace.

Next is the spacious eat-in kitchen that includes a sunny breakfast area, direct access to the deck, granite counter tops, center island with breakfast bar, and stainless steel appliances, and tile backsplash. A French door to the dining room makes serving a breeze. The 1st floor also offers a convenient bedroom with built-in storage and a full bath and stall shower. The laundry room completes the 1st floor.

The 2nd floor includes 4 generously-sized bedrooms and 2 full baths. The master suite is a delight with a massive walk-in closet, 2 additional closets, a luxurious marble bath, and frameless glass shower. The updated hall bath features dual sinks and a granite counter topped vanity.

Finally a huge basement provides plenty of space for storage and fun. It comes with recessed lighting and only needs to be finished to your tastes to create an excellent rec room, media room, extra sleeping space, office, and more!

Questions? Want to see the home? Contact us today. This property isn't in the MLS!







With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.

www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Wednesday, March 6, 2019

Do the Super Wealthy Renovate or Rebuild?



The vast majority of 'extreme home makeovers' we see are those on HGTV and the like and mostly more affordable. But gut renovations happen at all price levels, including multi-million dollar homes.

Until recently, most people have been more prone to tearing down an old house and building a brand new one in its place, especially in areas where pricing has soared and doing so is fully justified. Often this is cheaper. But there are some older houses in prime areas that pose historic or architectural significance and doing a gut renovation is the only solution. All renovation is expensive, especially if it is done correctly and not merely a cosmetic re-do. Structural renovations, especially in tight spaces in urban areas can be extremely costly, and often the structural and mechanical aspects of the renovation are not clearly visible. They may often be the most important aspect of the renovation.


The first step any prospective high-end renovator should do is consult their real estate agent to determine the differential between what the property costs to buy and what it could be worth fully renovated. Some buyers of very expensive homes don't care if they lose money upon re-sale, but they are in the minority. A client of ours recently gut-renovated a massive property with no budget (the garden alone cost $10 million) and stated boldly: "I am rich, I am not going to live forever, I love this property, it's my home and I don't care if it sells for 50 cents on the dollar!"

The next step would be to hire a team: an architect, builder and engineer are a good start. A landscaper and interior designer are always meaningful. Getting a comprehensive understanding of current conditions and the environment/land that the property is built on is critical. Understanding costs is equally important, if cost matters. Most older homes require massive infrastructure changes to meet the demands of modern living. There are very few for which a cosmetic renovation alone works. Most renovators of expensive older homes have told me that skimping is usually inevitably more costly and its always wiser to do things 100% thoroughly from A-Z.

Everything you put into a high-priced renovation has varying degrees of cost: some windows for instance can cost triple the cost of others. A quality sink faucet can cost anywhere from $500 to well over $5,000. Choices matter. And often those choices have to refer back to end valuation to be justified. There is nothing worse than doing an expensive renovation that appears cheap or looks like parts were skimped, as tempting as that may be. When evaluating an older' properties re-design its always important to retain the aspects that make that property special while adapting the place to a contemporary lifestyle. Those who destroy (good) architectural history are better off building from scratch elsewhere.


A beautifully renovated house requires a beautifully landscaped environment: too often we see poorly executed landscaping because people forget just how much landscaping can cost and they have no budget left by the time they are finished with the house/apartment...and all the additional costs that are inevitable. Older homes are prone to delivering 'surprises.'

While we love new construction, we have to say that personally nothing compares to a magnificently renovated home that has it's architectural beauty preserved. It's also important to note that most very high end properties are viewed as dated and requiring of a cosmetic renovation after about 6-7 years. Don't forget: the rich are different!




With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. 

Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.


www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Friday, March 1, 2019

Buyers: Why Multiple Bids Aren't as Bad as You Think

Buyers so often feel dejected when they find a property they love, only to discover multiple parties are interested and bidding. In some markets this is to be anticipated, and smart buyer agents educate their buyers to this possibility before they even start looking. While it usually feels unfair that others are bidding against you, here are some BUYER upsides (Don't worry about sellers.....they have lots to celebrate about!):

1. When others want a property you want, chances are it is very desirable. Usually when others want this property now, others will want it in the future when you sell.....but only if you are not in a super-tight inventory environment that can artificially drive demand.

2. Know that you are buying in a neighborhood/area that is in high demand.

3. Usually multiple bids emerge when demand outweighs supply. Sometimes, multiple bids emerge when something is priced below market, or the market is rising in value. Maybe the market is under-valued?

4. Bidding as much as you are (semi) comfortable doing is smartest. Some people do get completely carried away and pay vastly over the asking price. Granted they usually get the property, but irrational exuberance can have bad consequences.

5. Bargains - the homes no-one else wants - are very scarce in highly desirable neighborhoods. Beware of buying a bargain and then owning a bargain. The 'thrill' of a good deal may be outweighed by the quality of the product.

6. Multiple bids do not always lead to a sale price over the asking price. Sometimes the winning bid is below the asking price. Sometimes the terms matter more than the price. When multiple parties are bidding, most times this gives a very clear indication what the market is willing to bear at that moment, more so than simply an asking price.





With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.


www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Saturday, February 23, 2019

DID YOU KNOW? Existing-home sales ran at a 4.94 million seasonally-adjusted annual rate in January

💡DID YOU KNOW? Existing-home sales ran at a 4.94 million seasonally-adjusted annual rate in January, lower - by 1.2% - than the 3-year low they hit in December. They were 8.5% lower than a year ago. Inventory is a major cause: at the current pace of sales, it would take 3.9 months to exhaust the available supply. First-time buyers made up only 29% of all transactions during the month, well below their long-term average 40% share, speaking again to affordability. Sales increased by 2.9% in the Northeast, but down 2.5% in the Midwest, 1.0% in the South, and 2.9% in the West. (Marketwatch)

With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.
www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Wednesday, February 20, 2019

Fireplace Mantels: 7 Questions & Trends









credit: Bjorn Wallander



Fireplace mantels are taking center stage more and more in modern homes. Previously they primarily housed candles that never got lit, photos, and seasonal décor but we're seeing an increase of thoughtful décor that not only makes the fireplace area shine but also elevates the rest of the room. Here are some common questions & trends we've seen:


1. What's the difference between an English mantel and a French mantel?

French mantles tend to be lower and more ornate, often in heavier materials like marble or stone, and more heavy duty architecturally. English mantles tend to be higher and made of wood and sometimes offer modern, clean lines.

With either type, fireplaces definitely have become statement pieces by themselves. They show off a kind of lifestyle with either sophistication, romance, or coziness and offer an area for homeowners to showcase their sense of style.

source: remodelista.com



2. Non-Traditional Lighting

One lighting trend that keeps cropping up is lighting on the floor or hearth rather than on the mantle, specifically 2 symmetrical spotlights that point directly upward at the fireplace surround. It creates a dramatic effect and highlights beautiful materials or architecture.

Another option with a twist is candle holders in less conventional spots like the fireplace screen or hearth, mimicking the light and ambiance of a fire.

If there’s artwork on or above the mantle, spotlights can be used to highlight the artwork. It is usually best if the artwork is tall and the lights fade up to the ceiling. Overhead artwork lighting can look stuffy and too harsh.

Generally avoid lamps and seasonal lighting and definitely avoid the clash of harsh white light. This area should employ softer, cozier yellow light.

source: homebunch.com

3. Are mirrors and TVs hanging above a mantel sort of dull or expected at this point?

Mirrors still have their place above mantles but they easily look outdated. They still work well with extra high ceilings, statement fireplaces, and low mantles where the mirror is tall and draws the eye upward.

TVs are still a favorite over the mantle but we’re fans of décor that adds texture and interest and shows that the TV is not the focus of the room. One trend we love is the look of horizontal wood planks from hearth to ceiling on the fireplace. It’s eye-catching without being too distracting and allows for other décor to shine on the mantle.

4. Do people still use the Rule of Three?

This infamous rule is less in fashion now unless the three items are complementary statement pieces. Think an ornate clock flanked on either side by pieces of art. The rule of three often suggests a rigid formality which is less common in today’s homes.

5. What about safety?

source: indulgy.com
Kids and pets are important to consider if the mantle items are within reach, but if the mantle is out of reach, there’s no limit to the fragility and creativity of the mantel décor! Heavy objects, objets d’art, glass, and artwork all can look fantastic on a mantle, anchoring the visuals or lifting them up. If you are worried about things being knocked off, check out the various mounting solutions sold at any local hardware store (e.g. screw mounts, plates, velcro, hooks, small straps, etc.).

6. Symmetrical vs organic?

This really depends on the style of the fireplace and of the room as long as it looks intentional and thoughtful (i.e. not messy and haphazard). The fireplace is usually the room’s focal point and can be a great place to add contrast. If your room has a lot of symmetry, try a more organic design on the mantle. If your room is more relaxed and organically decorated, try a symmetry over the mantle with décor or sconces or artwork.



source: annechessindesigns.com
7. What do people put on mantels these days?

Today’s mantles are often more decorative than sentimental. Family photos tend to be hung on walls and placed on tables, shelves, and desks leaving the mantel free for creativity and expression. It’s more on trend to use bold, simple mantel décor rather than numerous small items which can look cluttered and unfocused.





With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.
www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Relocating To or From New Jersey? Don't Let Your Relo Company Make This Important Choice for You

Are you Relocating? You have a choice!


As a seller or buyer, you have the right to pick a Realtor of your choice. Don’t let your relocation company force you to use their preferred agent. That agent may not be the best fit for your situation, and that agent might be motivated by the relo company's interests over yours. Instead choose an independent real estate agent. We work with many relocation companies, and as a member of both the Realogy and Sotheby’s International Realty® networks, our offices at Prominent Properties Sotheby’s International Realty offer a broad range of customized relocation services including:
  • Pre-marketing and inventory assistance
  • Fresh and easy to use local website
  • Custom Market Analysis Reports
  • Area overview tours
  • Home finding services  ðŸ‘‹
  • School and Community information



Where We Are


The Sotheby’s International Realty network currently has more than 22,000 independent sales associates located in approximately 960 offices in more than 72 countries and territories worldwide, speaking over 48 languages, and places over 7,500 referrals every year! Our Northern and Central New Jersey relocation team exceeds 600 licensed professionals and staff working out of 13 offices including nearby locations such as Montville. Our team has over 20 years of helping relocation sellers and buyers!


Relocation Partnerships


Relocating through a relocation company? Here are just some of the relocation companies we work with:

ADP
Aires
Altair
CapRelo
Cornerstone
Graebel
Home Services Relocation
Lexicon
MSI
NEI Global Relocation
Plus Relocation
Relocation Today
SIRVA

Contact us today to find out how we can reduce the stress and pain of relocation! We'll get you where you need to go.



With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.
www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Saturday, February 9, 2019

The affluent are increasingly renting and how renting is so expensive in the long run


This article below is Good News for Real Estate Investors and also it makes the case that you should own your home rather than rent in the long term to build wealth.

DID YOU KNOW? The affluent are increasingly renting, according to multiple studies. Renters earning $150,000 or more per year were the fastest-growing group of renters. Between 2007 and 2017, top-earning renters increased by 175%, while homeowners within the same income bracket exhibited a 67% growth rate. Out of the 43.3 million renters nationwide, 2.1 million are top earners according to the latest available U.S. Census data. Back in 2007, there were only 774,000 high-income renters. Since 2008, the average size of a newly-built rental apartment has shrunk by 52 square feet, or 5%, to 941 square feet. Apartments have become much more expensive to rent — the average price has risen 28% over the last 10 years to $1,944. That equates to $700,000 over a 30 year period if rent prices stay the same.....$1,944 per month jumps to over $2,600/month simply applying 1% inflation rent hikes annually.....or $815,000. With nothing to show for it - zero equity - at the end of the day. (Marketwatch)

With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.
www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Thursday, February 7, 2019

Interior Design Trends for 2019

As real estate agents we look at so many homes each year that we get a clear sense of what's popular with homeowners. Let’s look at a few of the top design trends agents are noting for 2019:

  • Open Floor Plans: Homeowners are enjoying open spaces where the kitchen is the heart of the home and opens up to the family and dining rooms where they can entertain. Remodels now include knocking down walls and moving cabinets to enlarge these areas.


  • Subway & Moroccan Tiles: We’re seeing many subway tile and Moroccan tile backsplashes in kitchens, especially from counter-top-to-ceiling for a bold visual statement. Subway tiles are appearing in interesting patterns such as chevron or herringbone while Moroccan tiles are also cropping up in bathroom floors.
  • Brass & Copper Accents: From lighting fixtures to faucets to cabinet handles to range hoods, brass and copper are being mixed into traditional styles to add edge or warmth.


  • Bring the Outside In: Homes are using more and more glass like walls of windows, skylights, and glass doors. Whether entertaining or just having a glass of wine, glass is being used to bring the outdoors inside and take advantage of scenic views.
  • Lighter Wood Floors: Homeowners are choosing lighter wood floors, sometimes with a shade of gray or brown in them, and they’re using them increasingly in kitchens and foyers.
  • Gray & Teal: Gray continues to be wildly popular on walls and cabinets, and we’re noting a variety of shades & hues from pale bluish grays to deep charcoals. A fun addition we’re also seeing is the teal accent wall or teal island.
  • 1st Floor Bedroom/Office: Many homeowners are converting bedrooms to office spaces as more people work from home. Making spaces multitask is increasingly in demand.
Every home should be an extension of its owner with a style that makes homeowners feel happy and inspired. We hope these trends give you some ideas for your own homes!


With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. 

Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.
www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

How Sotheby’s International Realty innovative real estate marketing works for our clients.

When your home is represented by the Sotheby's International Realty® brand it benefits from the worldwide recognition and prestige of the Sotheby's name and gains exclusive access to highly qualified global clientele. See below how the Sotheby's International Realty brand is successfully connecting homes with buyers worldwide. See the latest Innovations that Sothebys International Realty bring to Real Estate Sales and Marketing.



________________________________________
With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.



Tuesday, February 5, 2019

Parsippany Named Best Place In NJ To Live By Money Magazine

Money Magazine recently rated Parsippany as one of the best places to live in the country. They ranked Parsippany #26 in the 2018 Best Places to Live. Only two New Jersey towns made the list of Top 50 places. The first was Parsippany at #26 and the next was Union at #43.
We already know Parsippany is a great places to live due to it's great location in Northern New Jersey, the Excellent schools and the commuting options to New York City.  It is also has easy access to Newark International Airport and many major highways like Rt 46, Rt 80, Rt 280, Rt 10, Rt 24 etc. You can read the full Money magazine article here.
If you are thinking of moving to Parsippany there please see Available Homes for Sale in Parsippany, Available Townhomes and Condos in Parsippany.
Also check out the following popular Townhome and Single Family Communities in Parsippany, New Jersey:

With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.
www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Monday, February 4, 2019

Rates for home loans ticked up slightly, but look set to fall in the coming weeks

💡DID YOU KNOW? Rates for home loans ticked up slightly, but look set to fall in the coming weeks as investors gird for a slower-growth economy. The 30-year fixed-rate mortgage averaged 4.46% in the January 31 week, up just one basis point compared to the prior week, and marked the first time in 2019 that the popular product had charted an increase. The 15-year fixed-rate mortgage averaged 3.89%, also up one basis point. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.96%, up from 3.90%.

With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.
www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Friday, February 1, 2019

Market Absorption Rates for the month of January 2019 for towns in Morris, Union and Essex County, New Jersey

Residential Real Estate Market Absorption Rates for the month of January 2019 for towns in Morris, Union and Essex County, New Jersey

Note: The Absorption Rate in a Normal Market is 5-6 months. In a Sellers Market it is 1-5 months. In a Buyer's Market it is 6+ months.


With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.
www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Thursday, January 31, 2019

See how Sothebys International Realty's continued Leadership in Real Estate Marketing and Innovation.

The Sotheby’s International Realty brand strives to provide an unwavering commitment of excellence to all of our clients. Whether you are seeking to purchase a luxury home of your own or sell a distinctive property, we have the tools to market each and every property with the same level of care and personalization in order to pair buyers and sellers around the world.

For those looking to sell their luxury estates, we are equipped with the marketing tools needed to ensure your property is presented to a global audience of qualified and interested buyers. Our luxury real estate marketing is designed to give you the competitive edge by increasing interest in your property and engaging our audience both online and off. The Sotheby’s International Realty network acts exclusively on behalf of our client’s individual needs and offer the utmost discretion when helping market and sell your estate.


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With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.



Thursday, January 24, 2019

Homeownership and Student Loans

DID YOU KNOW? Homeownership among people ages 24 - 32 fell 9 percentage points, to 36% from 45%, between 2005 and 2014, the Fed said. While many factors affected the homeowner rate, the Fed said 2 percentage points or about 20% of the decline was tied directly to student debt which now totals $1.5 trillion. That translated into 400,000 borrowers who could have owned a home by 2014 but didn’t because of student loans. (WSJ)

89% of Millennials plan to purchase a home in the future but simply can’t because of student debt. 48% have ZERO saved for a downpayment. (CNBC)
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With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.
www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

Saturday, January 5, 2019

The Top 10 Upgrades to Sell Your Home for Top Dollar

As published by The Wall Street Journal:

Want to know what it takes to sell a luxury home in a softening market? Ask Anh-Tuan and April Truong. In the fall, Dr. Truong, a cosmetic surgeon, and Ms. Truong, a stay-at-home mother to their two children, sold their 3,200-square-foot townhome in Chicago’s Gold Coast neighborhood for $1.175 million after just 40 days on the market—while similar homes in the same condominium development languished for months.

What gave the Truongs the edge? New quartzite countertops, new hardwood floors and a neutral, uncluttered décor—all part of a $30,000 upgrade in 2014.

“Sales have been slow over the last six months—you really have to stand out. Their place showed like a model unit,” said Lauren Schuh-Dayton, the couple’s real-estate agent and vice president of sales for Jameson Sotheby’s International Realty. Within weeks of accepting the winning bid on their townhome, the Truongs bought an updated 1888 greystone house in Chicago’s Lakeview East neighborhood for $1.5 million—$49,000 below the asking price.

Style & Design Choices That Sell Houses

Chef’s kitchens, retractable glass walls, spa bathrooms and other amenities that help sell luxury homes.

Retractable glass-wall systems that fold into accordion pleats or disappear into recessed pockets make for a seamless transition between indoor and outdoor living spaces—and are popular with luxury home buyers.
Retractable glass-wall systems that fold into accordion pleats or disappear into recessed pockets make for a seamless transition between indoor and outdoor living spaces—and are popular with luxury home buyers. HERMAN EKENDAHL-DREYER FOR THE WALL STREET JOURNAL


A home in Napa, Calif., has high vaulted ceilings in the central living space, as well as large, curtain-free windows for maximum light and airiness.
A home in Napa, Calif., has high vaulted ceilings in the central living space, as well as large, curtain-free windows for maximum light and airiness.JASON HENRY FOR THE WALL STREET JOURNAL
The chef̢۪s kitchen of April and Anh-Tuan Truongs̢۪ new Chicago home, which they bought in September for $1.5 million, has a double-oven, gray custom cabinetry and quartzite waterfall countertops.
The chef’s kitchen of April and Anh-Tuan Truongs’ new Chicago home, which they bought in September for $1.5 million, has a double-oven, gray custom cabinetry and quartzite waterfall countertops.KATRINA WITTKAMP FOR THE WALL STREET JOURNAL
A butler̢۪s pantry off the Truongs̢۪ kitchen can accommodate a catering team, with a sink and garbage disposal, a butcher-block counter and two small stacked dishwashers, one of which is designed for glassware.
A butler’s pantry off the Truongs’ kitchen can accommodate a catering team, with a sink and garbage disposal, a butcher-block counter and two small stacked dishwashers, one of which is designed for glassware.KATRINA WITTKAMP FOR THE WALL STREET JOURNAL


The Truongs̢۪ master bathroom has a spa-like environment, with a wireless music system, a free-standing tub, heated floors and a large walk-in steam shower with double shower heads and bench seating.
The Truongs’ master bathroom has a spa-like environment, with a wireless music system, a free-standing tub, heated floors and a large walk-in steam shower with double shower heads and bench seating.KATRINA WITTKAMP FOR THE WALL STREET JOURNAL
More luxury buyers are looking for app-based home-automation systems to play music, control lighting systems and window treatments, regulate thermostats and access security cameras.
More luxury buyers are looking for app-based home-automation systems to play music, control lighting systems and window treatments, regulate thermostats and access security cameras.GETTY IMAGES/ISTOCKPHOTO
Four-car garages are a prized amenity, particularly in areas where the cost of square-footage is high. Electric car charging stations, car lifts and epoxy floors are also coveted.
Four-car garages are a prized amenity, particularly in areas where the cost of square-footage is high. Electric car charging stations, car lifts and epoxy floors are also coveted. ALAMY
A century-old hay barn in Napa, Calif., was converted into an entertainment center. A barn or carriage house that can be remodeled as a party space, home office or guest cottage can lure buyers, according to a study by Realtor.com that looked at the top-selling amenities for luxury homes.
A century-old hay barn in Napa, Calif., was converted into an entertainment center. A barn or carriage house that can be remodeled as a party space, home office or guest cottage can lure buyers, according to a study by Realtor.com that looked at the top-selling amenities for luxury homes. JASON HENRY FOR THE WALL STREET JOURNAL
A backup generator capable of powering a home through a sustained electricity outage has become an important selling point in luxury-home markets, particularly in hurricane-prone areas.
A backup generator capable of powering a home through a sustained electricity outage has become an important selling point in luxury-home markets, particularly in hurricane-prone areas. GETTY IMAGES/ISTOCKPHOTO
A home in Charlotte, N.C., features minimal window treatments and neutral colors, which increase the sense of brightness and openness. Gray is a popular color for flooring as well as walls.
A home in Charlotte, N.C., features minimal window treatments and neutral colors, which increase the sense of brightness and openness. Gray is a popular color for flooring as well as walls. DANIELLE PAUL FOR THE WALL STREET JOURNAL



With the luxury market cooling, home sellers may have to invest in upgrades to get top dollar. According to an analysis by Realtor.com, high-end home sales rose 7% in October over the same month in 2017—the second-slowest increase in over two years. Meanwhile, the total number of properties listed at or above $1 million increased by over twice that rate—indicating that the supply of luxury homes may be outstripping demand.

“Inventory starts to pile up because buyers don’t see value at that price level,” said Javier Vivas, Realtor.com’s director of economic research. “Buyers are being more demanding.”(News Corp, owner of The Wall Street Journal, also operates Realtor.com under license from the National Association of Realtors.)

To uncover the secrets of selling a luxury home in a softening market—and find out which amenities are attracting buyers—Mansion reached out to brokers, real-estate analysts, developers and designers. Here are their picks, in no particular order. One takeaway: A $10,000 Japanese toilet can clinch a sale.
“Light-filled,” “bright,” “southern” and “exposure” are among the most frequent keywords used to describe the luxury homes priced at $1 million and above that sold most quickly, according to a Realtor.com analysis of more than 45,000 luxury listings. For brokers and developers, all those words mean just one thing: glass.

“When [clients] talk about ‘bright’ they are talking about big windows and sliding glass walls that open to the outside,” said Billy Rose, founder and president of The Agency in Beverly Hills, Calif.

At the Preserve at Upper Saddle River, N.J., a new Toll Brothers community, retractable glass walls are luring buyers to single-family homes priced from $1.4 million. “People love the glass,” said Jed Gibson, president of Toll Architecture, noting that over a third of new owners in its four upscale New Jersey developments opted for various movable glass-wall systems.

“One thing I advise my clients to do if they can afford it, is to rip out french doors to an outdoor living space and put in accordion glass doors,” said Collette McDonald, a Re/Max agent in Atlanta’s Buckhead neighborhood. “They give traditional floorplans that contemporary, updated look.”

High Ceilings

“Ten-foot ceilings, cathedral ceilings, vaulted ceilings” are all in demand, said Susie O. Johnson, a real-estate agent with Coldwell Banker Gundaker in metro St. Louis.

Paul Schumacher of custom home-builder Schumacher Homes said his clients willingly pay a premium for loftier master bedrooms and great rooms. “We always tell clients, ‘Let’s put the money and the investment in things you can’t change later. I can change the finish on the floors, but I can’t give you extra volume on ceilings,’” he said.

In New York’s pricey condo market, 13-foot ceilings are now in vogue, according to John Gomes and Fredrik Eklund, who head a team at Douglas Elliman Real Estate. “The first thing buyers ask when they walk in—before they ask about square footage—is, ‘How high are the ceilings?’” Mr. Gomes said.

Anh-Tuan and April Truong with children Lola, 6, and Jonah, 10.
Anh-Tuan and April Truong with children Lola, 6, and Jonah, 10. PHOTO: KATRINA WITTKAMP FOR THE WALL STREET JOURNAL

Quartzite Countertops

Quartzite, a lustrous natural stone that’s harder than granite and less prone to staining than marble, is the new star of the chef’s kitchen.

“Light whites and grays are replacing darker granites. Buyers like to see a light, neutral countertop, not something so personalized or so busy that it’s competing with the tile on the backsplash,” said Susan Boss, a broker-associate with Martha Turner Sotheby’s International Realty in Houston who sells homes in the city’s Rivercrest and Memorial neighborhoods.

Butler’s Pantry

A tricked-out butler’s pantry with an extra wine fridge, icemaker or dishwasher can serve as an extension of the home’s entertaining space—or hide the messy prep work. And according to Realtor.com’s analysis, they are very popular with home buyers. “We looked at luxury properties with, say, a butler’s pantry, and compared that to luxury properties without in the same area,” said Mr. Vivas. “These homes are spending 40 to 60 fewer days on the market.”

Spa Bathrooms

To hook a buyer willing to spend well over $1 million on a New York City condo, a master bathroom must have a steam shower and a high-tech Japanese toilet—“two things I will never ever live without,” Mr. Eklund said.

In San Francisco, the spa bathroom makeover has become standard in high-end remodels, according to designer Cindy Bayon. “Steam showers, heated floors—you assume that’s in the project going in,” she said.

Toll Brothers has gone all-in with tubs. “It’s a big trend for us. Our buyers told us they wanted free-standing tubs,” Mr. Gibson said. In Houston, clients also show a preference for master bathrooms with dual toilets, said Ms. Boss. The status commode today, according to several agents: the Toto Neorest dual-flush model, which has a heated seat, multiple wash modes and an automatic air-purifying system. Retail price: $10,200.



What Luxury Buyers Look for in 2019

Want to know what buyers want in a luxury home? Exhibit A: April and Anh-Tuan Truong’s 1888 Greystone house in Chicago.

 The 19th-century house had been converted into a multi-unit building, but was restored as a single-family home after a gut renovation in 2014.
The 19th-century house had been converted into a multi-unit building, but was remodeled into a single-family home in 2014.
KATRINA WITTKAMP FOR THE WALL STREET JOURNAL

April and Anh-Tuan Truong’s 1888 Greystone house in Chicago has been impeccably restored; original solid-wood pocket doors separate the dining room, pictured, from a formal living room.
April and Anh-Tuan Truong’s 1888 Greystone house in Chicago has been impeccably restored; original solid-wood pocket doors separate the dining room, pictured, from a formal living room. KATRINA WITTKAMP FOR THE WALL STREET JOURNAL
The Truongs’ master suite, which occupies the entire third level of the home, includes a library, pictured, and a study with refinished hardwood floors, as well as a walk-in closet and spa-like master bath.
The Truongs’ master suite, which occupies the entire third level of the home, includes a library, pictured, and a study with refinished hardwood floors, as well as a walk-in closet and spa-like master bath.KATRINA WITTKAMP FOR THE WALL STREET JOURNAL
April Truong works in the study of her third-floor master suite, while Sam, one of the family’s two dogs, takes a nap in front of one of the home’s three fireplaces.
April Truong works in the study of her third-floor master suite, while Sam, one of the family’s two dogs, takes a nap in front of one of the home’s three fireplaces.KATRINA WITTKAMP FOR THE WALL STREET JOURNAL
The Truongs’ two young children can read and play in a study on the second floor of their home, which has six bedrooms and five bathrooms.
The Truongs’ two young children can read and play in a study on the second floor of their home, which has six bedrooms and five bathrooms.KATRINA WITTKAMP FOR THE WALL STREET JOURNAL
A guest bedroom in the Truongs’ 5,000-square-foot Greystone home in Chicago’s Lakeview East neighborhood, which they purchased for $1.5 million in September.
A guest bedroom in the Truongs’ 5,000-square-foot Greystone home in Chicago’s Lakeview East neighborhood, which they purchased for $1.5 million in September.KATRINA WITTKAMP FOR THE WALL STREET JOURNAL
The home has a separate two-bedroom apartment with its own laundry room and private entrance on the garden level—perfect for Dr. Truong’s father, who has moved in with the family.
The home has a separate two-bedroom apartment with its own laundry room and private entrance on the garden level—perfect for Dr. Truong’s father, who has moved in with the family.KATRINA WITTKAMP FOR THE WALL STREET JOURNAL
The Chicago home is designed for entertaining and large family gatherings. Dr. Truong lights the gas firepit in the backyard.
The Chicago home is designed for entertaining and large family gatherings. Dr. Truong lights the gas firepit in the backyard.KATRINA WITTKAMP FOR THE WALL STREET JOURNAL

Smart-Home Systems

App-based home-automation systems that can play music, control lighting systems and window treatments, regulate thermostats and access security cameras are gaining in popularity. “It is now expected that a home has an ample amount of technology,” said Gary Gold, executive vice president at Hilton & Hyland.

Four-Car Garage

In areas where the cost of square-footage is high, a garage that can accommodate three or four cars is a prized amenity.

“Buyers love garages. That’s really what turns a lot of guys on—their eyes light up,” said Michael Costello, an associate with Douglas Elliman Real Estate in Palm Beach, Fla. “Most of our buyers, even if it’s just a couple, tend to have three, four, five, six cars.”

“In the garage itself, people are looking for electric car hookups, as well as the ability to add a lift if they are a car collector,” Ms. McDonald said.
Barns aren’t just for horses. Outbuildings that have been remodeled as party spaces, home offices or guest cottages lure buyers. “Having a barn on the property can be really valuable—whether it’s used as a studio or as a guesthouse or cottage for family,” said Sally Slater, an associate broker with Douglas Elliman in Bedford, N.Y. “And you can get income from it.”

Generator

More buyers are asking about home generators, particularly in hurricane-prone areas. “It has become much more important than it was 10 years ago,” said Ms. Boss, whose clients learned to love generators in the aftermath of Hurricane Harvey in 2017. Adding a small generator for backup power to protect a valuable wine collection can cost as much as $50,000, she said, while larger systems for the home can cost $100,000 or more.

“It’s one of those undervalued things, but use it once, and you’re the happiest person,” said Judy Gibbons, a broker associate with Jameson Sotheby’s International Realty in Chicago.

Neutral Decor

“Light grays are really popular—whether it’s flooring, or wall colors,” Mr. Costello said. He advises clients ditch heavy drapes and put antique furnishings in storage. “Heavy brown furniture is out. It’s not easy telling a client that buyers are turned off by that look.”

And never underestimate a good coat of paint. Mr. Gold swears by a Dunn-Edwards hue called “Swiss Coffee.” “When in doubt, white it out,” he said.

Turn-offs to luxury-home buyers

Agents and designers say what’s passe in home design.

1. Granite

2. Jetted bathtubs

3. French doors with mullions

4. Unsightly built-in entertainment systems

5. Bidets

6. Heavy brown furniture

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With their Multi-Cultural Background, over 35 years of combined experience selling Real Estate and because they are Licensed in New Jersey, New York and California, Rahul, Smitha and their team can offer global reach. They have lots of experience representing a diverse group of clients, from Local New Jersey Buyers & Sellers to Relocation and International/Foreign Buyers, Sellers and Investors. Rahul and Smitha are exceptionally well-respected Realtors in the industry with high ethical standards and GLOWING REVIEWS. Their team offers a high level of expertise, innovative technology and cutting-edge real estate marketing and sales solutions.  They specialize in Morris, Somerset, Essex and Union counties.

www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com