Wednesday, January 27, 2016

5 Open Houses on Sunday, 1/31 in Denville, Randolph, and Montville

We'd love to see you this weekend at one or more of our FIVE open houses in Denville, Randolph, and Montville, NJ! We will be showcasing 3 townhomes in the Berkshire Hills community in Denville, a fabulous luxurious Colonial in Randolph, and a magnificent luxurious Contemporary house in Montville. Homes to fit every lifestyle and budget in some of the most desirable and convenient communities!

Click the addresses below for more details and pictures. Please contact us with any questions. If you can't make it on Sunday, just contact us to arrange a private showing!

WHEN: Sunday, January 31st, 1-4 PM


29 Windsor Drive, Montville | Offered at $1,299,000 | 5 beds, 4.2 baths, 3-car garage

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47 Barbara Drive, Randolph | Offered at $749,900 | 5 beds, 3.1 baths, 3-car garage

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1804 Middlefield Court, Denville (Berkshire Hills) | Offered at $362,000 | 2 beds, 2.1 baths, 2-car garage

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915 Hawley Court, Denville (Berkshire Hills) | Offered at $289,900 | 2 beds, 1.1 baths, 1-car garage

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807 Buckland Court, Denville (Berkshire Hills) | Offered at $284,900 | 2 beds, 1.1 baths, 1-car garage

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National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

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

Wednesday, January 20, 2016

3 Open Houses on Sunday, 1/24 in Berkshire Hills, Denville, NJ!

Please be our guest this weekend at 3 open houses in the Berkshire Hills townhome community in Denville, NJ! Take advantage of this rare opportunity to see multiple beautiful homes in the same neighborhood.

This quiet, serene community offers a sparkling outdoor pool and playground for its residents enjoyment, and is close to freeways, shopping & dining. The interiors of the homes are bright, spacious and open, and have features to fit every lifestyle. Each includes central A/C, gas heat, attached garages, and a balcony or patio to enjoy the outdoors.

Click the links below for more details and pictures. Please contact us with any questions. If you can't make it on Sunday, just contact us to arrange a private showing!

WHEN: Sunday, January 24th, 1-4 PM


1804 Middlefield Court | Offered at $362,000 | 2 beds, 2.1 baths, 2-car garage

02 LR_P1060452 (Large) 05 Kitch_P1060463 (Large)

915 Hawley Court | Offered at $289,900 | 2 beds, 1.1 baths, 1-car garage

02 LR_P1060285 (Large) 08 BR1_P1060318 (Large)

807 Buckland Court | Offered at $284,900 | 2 beds, 1.1 baths, 1-car garage

03 LR_IMG_8568_IMG_8577 copy (Large) 06 Kitch_IMG_8591_IMG_8596 copy (Large)


National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

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

Saturday, January 16, 2016

The Most Appealing Aspects of Homeownership

The National Association of Realtors (NAR) just released their first issue of the Housing Opportunities & Market Experience Survey (HOME). In the report, NAR revealed what Americans believe to be the most appealing aspects of homeownership.

Here is a graph showing the results:

appeal-of-homeownership-KCM

It is interesting to see that the two most appealing aspects had nothing to do with money, but instead, addressed the non-financial benefits of homeownership.

National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

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

Tuesday, January 12, 2016

New Exclusive Listing - Beautiful Updated Townhome in Denville

Check out our new listing at 1501 Windsor Court, Denville, NJ in the fabulous Berkshire Hills community. This listing isn't in the MLS and is available exclusively through us! This gorgeous end unit was updated in 2014 and also features new central air conditioning in 2015. It's the perfect turnkey opportunity for an investor as the home is currently tenant-occupied, and the tenant would like to extend the lease. Earn passive income!

3 Beds, 2.1 Baths, 2-Car Garage | Offered at $425,000


Click HERE for more details and pictures!


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National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

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

The Impact of Higher Interest Rates

Last week, an article in the Washington Post discussed a new ‘threat’ homebuyers will soon be facing: higher mortgage rates. The article revealed:

“The Mortgage Bankers Association expects that rates on 30-year loans could reach 4.8 percent by the end of next year, topping 5 percent in 2017. Rates haven’t been that high since the recession.”

How can this impact the housing market?

The article reported that recent analysis from Realtor.com found that “…as many as 7% of people who applied for a mortgage during the first half of the year would have had trouble qualifying if rates rose by half a percentage point.” This doesn’t necessarily mean that those buyers negatively impacted by a rate increase would not purchase a home. However, it would mean that they would either need to come up with substantially more cash for a down payment or settle for a lesser priced home.

Below is a table showing how a jump in mortgage interest rates would impact the purchasing power of a prospective buyer on a $300,000 home.

buyers purchasing power 2015 nov


Bottom Line

If you are considering a home purchase (either as a first time buyer or move-up buyer), purchasing sooner rather than later may make more sense from a pure financial outlook.

National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

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

Monday, January 11, 2016

U.S. Apartment Rents Leap at Fastest Pace Since Crisis


Per a recent article from The Wall Street Journal, apartment rents have leaped at the fastest pace since the crisis. The national average rent rose 4.6% compelling renters to buy.

By LAURA KUSISTO
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Apartment rents increased faster last year than at any time since 2007, a boon for landlords but one that has stoked concerns about housing affordability for renters. Average effective rents nationwide rose 4.6% in 2015, the biggest gain since before the recession, according to a report by real-estate researcher Reis Inc. REIS 2.03 % The average apartment rent now stands at nearly $1,180, up from about $1,125 a year ago.

Another report from Axiometrics Inc., a Dallas-based apartment research company, showed that rents increased 4.7% in the fourth quarter compared with the same quarter a year earlier, the strongest year-end performance since 2005. The fourth quarter “wrapped up an incredible year for the apartment market, probably the strongest we’ve ever seen,” said Jay Denton, senior vice president of analytics at Axiometrics.

Rents have marched steadily higher for six consecutive years, in part because of tough lending standards for home buyers and in part because of a shortage of apartments for middle-income renters. The homeownership rate in the third quarter stood at 63.7%, near a 30-year low.

Unlike home prices, which crashed during the recession and have taken years to recover, rents scarcely dipped during the downturn. Since then annual increases have accelerated from 2.3% in 2010 to about 4% in each of the last two years. Over the last 15 years, rents have increased by an average of 2.7% annually, according to Reis.
In general, the higher rents go, the more difficult it will be for young people to save for down payments, making them likely to rent even longer. The percentage of first-time buyers among all home buyers is at its lowest level in three decades, according to the National Association of Realtors.

In some cases, meanwhile, professionals well into their 30s are choosing to rent rather than buy, preferring the financial flexibility and the proximity to restaurants and bars.
Alezandra Russell, a 34-year-old founder of a nonprofit, and her husband sold their five-bedroom house in suburban Maryland in 2014 in favor of an 800-square-foot apartment they rent in downtown Baltimore for about $2,500 a month. Even though the rent has increased slightly every year, she said renting has given them much more financial freedom than when they had a mortgage that they were “stressed out about constantly.”



Analysts say the apartment market is showing some early signs of peaking. Vacancy rates rose slightly in the fourth quarter to 4.4% from 4.3% in the previous quarter.
The main factor: a flood of new supply, which is especially likely to weigh on rents in high-end buildings in downtown areas. In all, more than 188,000 apartment units were completed in 2015, the most since 1999, according to Reis.

Bob DeWitt, president and chief executive of GID, a Boston-based apartment owner and developer, is currently involved in developing 15 apartment projects across the country. But he said the increased competition is starting to limit how much more rent tenants are willing to pay. “We certainly believe that over the next two or three years rent trends are going to slow and in some places they may actually back up,” he said.

Both reports showed that some of the hottest markets in the country are finally starting to cool, while smaller, less expensive ones are starting to heat up. That might reflect the fact that the affluent renters that dominate those markets are reaching the limit of how much they can afford and are moving to older buildings or neighborhoods farther from downtown.

Rents in the San Francisco area increased 7.6% year-over-year in the fourth quarter, compared with 11.8% in the third quarter, according to Axiometrics. Rents in San Jose increased 7.1%, compared with 9.9% in the third quarter.

Meanwhile, rents in Portland, Ore., traditionally a more affordable city, jumped by 12% in the fourth quarter from a year earlier, Axiometrics said. Kimberly Minasian Sparks, a rental broker in Portland, said a few years ago she could easily find clients a one-bedroom apartment in the $900-a-month range. Today, she is lucky to snag one for less than $1,500. “It’s not sleepy little Portland anymore,” she said.

Much of the new demand in Portland has been driven by people fleeing cities such as Seattle and San Francisco, where rents have shot up beyond what many people can afford. Diana Comstock, a 42-year-old painter, moved to Portland from Santa Barbara last summer. She said the local moms’ group she belongs to on Facebook is full of people decrying huge rent increases driven by people coming from out-of-state. “I tend not to tell people I’m from California,” she said. “You can’t blame people for coming here when it’s a good bargain.”

National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

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

Sunday, January 10, 2016

Why Some Homes Don’t Sell and Why Yours Will

KCM Speech Bubbles



It is amazing how many people start giving you advice when you tell them you are thinking of selling your home. In most cases, this advice is coming from people that do not sell real estate on a full-time basis. When a seller decides that they are going to put their home on the market for sale, sometimes it's a friend, a relative, or a complete stranger who happens to be an agent. Avoid the costly and time-consuming process of listing a home and NOT getting results. Here are a few mistakes that we see sellers make all the time. We want you to be successful THE FIRST TIME.

Waiting for the “Right Time to Sell”

You might think that waiting just a little longer might net you a higher sale price, but there is no significant difference between seasons. Long term market trends lasting many months or years have more impact on price. The right time to sell is when you are ready to sell.

Pricing Your Property Too High

This is an error that can cost you the most. Look at your home through the eyes of a buyer, not as a seller. Find a realistic price range by comparing similar recent sales and set a price that will generate early buyer interest. Remember you can turn down any unrealistic offers but if you price it too high you may miss the opportunity to negotiate an offer, which could cost you time and real money in the form of carrying costs.

A Unique Marketing Approach

Not every home is the same, so how can one type of marketing work for all? In order to create demand for a home, there must be a specific marketing plan for that type of home. If there is not a specific marketing plan, the agent is probably using a “One Size Fits All” approach. This is ineffective because it is relying on luck to generate showings and offers. Remember there are hundreds of different types of homes on the market now and there is a different type of buyer for each one.


National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

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

Friday, January 8, 2016

Change in Home Sales by Price Range

Some highlights from the infographic:
  • Home Sales are up year-over-year in the top 4 price ranges and only slightly below last year's numbers in a fifth.
  • A lack of distressed property inventory has led to a slow down in sales in the under $100K price range.
  • As home prices continue to rise, there will be less homes available for sale in the lower ranges.
change in home sales

National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

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

Monday, January 4, 2016

Top Reason to List Your House For Sale Now!

If you are debating listing your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes For Sale


The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage: “While feedback from REALTORS® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.” The latest Existing Home Sales Report shows that there is currently a 5.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and well below November 2014 numbers. The chart below details the year-over-year inventory shortages experienced in 2015. Anything less than a six-month supply is considered a “Seller’s Market”.

2015 inventory lvls


Bottom Line


Meet with a local real estate professional who can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing and able to buy now!

National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

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