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.



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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.



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

Monday, December 10, 2018

2008 vs. Now: Are Owners Using Their Homes as ATMs Again?


Over the last six years, we have experienced strong price appreciation which has increased home equity levels dramatically. As the number of “cash-out” refinances begins to approach numbers last seen during the crash, some are afraid that we may be repeating last decade’s mistake.

However, a closer look at the numbers shows that homeowners are being much more responsible with their home equity this time around.

What happened then…

When real estate values began to surge last decade, people started using their homes as personal ATMs. Homeowners would refinance their houses and convert their equity into instant cash (known as “cash-out” refinances). Because homes were appreciating so rapidly, many homeowners tapped into their equity multiple times.

This left homeowners with little-or-no equity left in their homes, so when prices started to fall many homeowners found their houses in a negative equity situation (where the mortgage amount was greater than the value of the home). When some of these homeowners saw that there was no value left in their houses, they just stopped paying their mortgages altogether.

Banks eventually foreclosed on those homes and the foreclosures drove prices down even further and put more homes in the negative equity category. This cycle continued, leading to the worst housing crash in almost one hundred years.

What’s happening now…

Again, Americans are seeing their home equity grow. Today, over 48% of all single-family homes in the country have over 50% equity, and yes, some families are tapping into that equity. However, this time around, homeowners are not doing making irresponsible decisions. According to the latest information from Freddie Mac, the total equity being “cashed out” is a fraction of what it was leading up to the crash. Here are the numbers:



Bottom Line

The recklessness that accompanied the build-up in equity prior to the last crash does not exist today. That makes this housing market much more secure than the one we had heading into 2008.

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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

Monday, November 12, 2018

Reasons You Should List Your Home in November & December


Every year at this time, many homeowners decide to wait until after the holidays to put their home on the market, many believing that this period is a challenging time to sell. Others who already have their home on the market decide to take it off the market until after the holidays. However, several studies confirm that on overage, homes listed during this time ore more likely to sell more quickly and sell for closer to the asking price. Here are 7 great reasons not to wait:

1. Relocation buyers are out there. Companies are not concerned with holiday time and if the buyers have kids, they want them to get into school after the holidays.

2. Purchasers that are looking for a home during the holidays are serious buyers and are ready to buy. Having remained patient throughout the busy selling season, they're highly motivated and may face their own time constraints.

3. You can restrict the showings on your home to the times you want it shown. You will remain in control.

4. Homes show better when decorated for the holidays.

5. There is less competition for you as a seller because of misconceptions about selling during the holiday season. Sellers who wait to list their home or pull their home from the market lower the available inventory: buyers have fewer homes to choose from.

6. Conversely the supply of listings increases substantially after the holidays increasing your competition.

7. A house marketed now may lure buyers hoping for year-end tax breaks. They may want to deduct home purchase costs like points, interest, and property taxes.

Waiting until after the holidays to sell your home probably doesn't make sense. If you're interested in selling now, contact us!
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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, August 25, 2018

Condo and Townhome Communities in New Providence, Summit, Westfield New Jersey

Looking for Townhome and Condo  Communities in New Providence, Summit and Westfield New Jersey?
Union County NJ has a few options when it comes to Townhome and Condo  Communities in New Providence, Summit and Westfield with the perfect floor plans and amenities for your needs. They offer everything from starter condos and townhomes to Luxury Condos and Townhomes with Community Amenities such as Fitness Center, Club House, Swimming Pool, and many different activities/clubs to keep you busy and  make friends. The other advantage is that all of your Exterior Maintenance like Lawn Maintenance, Common Area Maintenance and Snow Removal is all included in your Monthly Dues making it a Great Lifestyle.
Here are a few popular Communities:
New Providence, NJ 
Summit, NJ 
Westfield, NJ 
If you are interested in Townhomes or Condominiums in New Providence, Summit and Westfield New Jersey, please Contact Us at 973-615-6504 or 973-953-7777, so we can give you more details about each of these communities.

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.


Condo and Townhome Communities in Livingston, Roseland, Millburn Twp and Short Hills New Jersey

Looking for Townhome and Condo  Communities in Livingston, Roseland, Millburn Twp and Short Hills New Jersey?
Essex County NJ has a few options when it comes to Townhome and Condo  Communities in Livingston, Roseland, Millburn Twp and Short Hills with the perfect floor plans and amenities for your needs. They offer everything from starter condos and townhomes to Luxury Condos and Townhomes with Community Amenities such as Fitness Center, Club House, Swimming Pool, and many different activities/clubs to keep you busy and  make friends. The other advantage is that all of your Exterior Maintenance like Lawn Maintenance, Common Area Maintenance and Snow Removal is all included in your Monthly Dues making it a Great Lifestyle.
Here are a few popular Communities:
Livingston, NJ 
Millburn Twp. / Short Hills, NJ 
Roseland, NJ 
If you are interested in Townhomes or Condominiums in Livingston, Roseland, Millburn Twp and Short Hills New Jersey, please Contact Us at 973-615-6504 or 973-953-7777, so we can give you more details about each of these communities.

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