Tuesday, December 29, 2020

Why It’s Important to Price Your House Right Today

 

 
Even in today’s sellers’ market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase by 4.5% in 2021. This means experts anticipate home values will continue climbing next year. Danielle Hale, Chief Economist for realtor.com, notes

 “We expect price gains to ease somewhat in 2021 and end 5.7% above 2020 levels, decelerating steadily through the spring and summer, and then gradually reaccelerating toward the end of the year.”

 

How to Price Your House


When it comes to setting the right price for your house, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look. 

As a seller in today’s market, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers

Right now, even when there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running if it isn’t priced just right from the very beginning.

 

It’s important to make sure your house is priced correctly by working with a trusted real estate professional throughout the process. When you price it competitively from the start, you won’t be negotiating with one buyer. Instead, you’ll likely have multiple buyers competing for the house, potentially increasing the final sale price. 

The key is to make sure your house is priced to sell immediately. This way, it will be seen by the greatest number of buyers. More than one of them may be interested, and it will be more likely to sell at a competitive price.

 

Bottom Line


Reach out to a local real estate professional to price your house correctly from the start so you can maximize your exposure and your return.  

 

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, December 24, 2020

3 Reasons to Be Optimistic about Real Estate in 2021

 

  

This year will be remembered for many reasons, and optimism is one thing that’s been in short supply since the spring. We’re experiencing a global pandemic, social unrest, an economic downturn, and natural disasters, just to name a few. The challenges brought on by the health crisis have also forced many homeowners to reevaluate their space and what they need in a home going into 2021. So, experts are forecasting that next year is one in which we can be optimistic about real estate for three key reasons.

 

1. The Economy Is Expected to Continue Improving

Tim Duy from the University of Oregon puts it this way: “There is nothing fundamentally ‘broken’ in the economy that needs to heal…there was no obvious financial bubble driving excessive activity in any one economic sector when the pandemic hit…With Covid-19 cases surging again, it is understandably hard to look optimistically to the other side of this winter…Don’t let the near-term challenges distract from the economic stage being set for next four years.”

 

2. Interest Rates Are Projected to Stay Low

In the latest projections from Freddie Mac, interest rates for a 30-year fixed-rate mortgage are expected to remain at or near 3% next year. These low rates will continue to make homes more affordable, driving demand for housing in 2021.
 


3. Future Home Sales Are Forecasted to Grow

While the economy improves and interest rates remain low, homes are also expected to continue appreciating as more people buy in the coming year. Danielle Hale, Chief Economist at realtor.com, says: “We expect home sales in 2021 to come in 7.0% above 2020 levels, following a more normal seasonal trend and building momentum through the spring and sustaining the pace in the second half of the year.”

 

Bottom Line

Experts forecast that buyers and sellers are going to be active in 2021. If you’ve thought about buying or selling your home this year but have held off, now may be the time to take advantage of this market. Reach out to a local real estate expert to take the first step toward your new home today.

 

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 14, 2020

Exclusive Listing: 28 Foote Lane, Parsippany

 

28 Foote Ln Browse the home's photos here.

4 BD, 4.1 BA, Oversize 3-Car Garage | Offered at $1,300,000

Not in the MLS! Call Smitha 973-953-7777 for additional info & to schedule a private showing.

Walk the home in an immersive 3D Virtual Tour here.

This is the home you've been waiting for. From its private and professionally landscaped 3+ acres, to its luxuriously elegant interior, to its prime Parsippany location, this exceptional home is unparalleled in all that it offers. You'll be proud to live and entertain here.

Location

With inviting curb appeal and its prime cul-de-sac location, the stunning home immediately catches your eye. Featuring wide open yards, tiered stone wall landscaping, and woods behind, there's plenty of space to enjoy. You'll also love all the conveniences and amenities that come with living in this area!
  • 5 minutes to the Mt. Tabor or Denville train stations
  • Quick access to Interstates 80, 280 and 287 and Routes 46, 10 and 53
  • Extensive dining, shopping, and recreation options
  • Close proximity to schools

Interior Features

This gorgeous center hall Colonial comes with approximately 6100 sq ft of gracious space. It boasts an open floor plan conducive for entertaining with a large finished lower level that includes a kitchenette and full bath - ideal for recreation or a potential guest or au pair suite. The main level features dramatic 2-story ceilings in the foyer and sunken family room,  a gourmet granite eat-in kitchen, and Brazilian cherry hardwood and Italian Monocibec Graal floors. An enclosed formal living room makes a perfect home office/study, while the formal dining room, 1st floor den, and large deck offer even more room for comfortable living and entertaining. Upstairs on the 2nd level, 4 spacious bedrooms offer abundant room to unwind and rest while a large full size attic supplies additional storage. Lovely oak floors, vaulted ceilings, a tray ceiling in the master suite, plus lots of closet space. The 3 full baths all feature granite counter tops, and the spa-like master bath comes with a wonderful Jacuzzi tub. Approx. 1600 sq ft, the newly finished lower level (2018) is an amazing space with a granite kitchenette, marble full bath, even more storage/closets, plus multiple flex areas for recreation, exercise, work, and more! Additional Interior Features:
  • Recessed lighting throughout
  • Family Room: gas fireplace
  • Living & Dining Rooms: Hunter Douglas Silhouette window treatments, crown moldings
  • Kitchen: 42" Yorketowne glazed cabinetry, stainless steel appliances, center island/breakfast bar
  • Baths & W.C.: Moen facets, upgraded Koehler W.C. and sinks
  • Full size attic storage
  • Basement: drywall ceiling, waterproofing, French drain throughout, 2 sump pumps
  • Foyer chandelier lift
  • Oversize built-in 3-car garage

Exterior Features

  • Stucco, stone, and Hardyplank exterior with beautiful landscape lighting
  • Oversize 3-car garage
  • Sprinkler system
  • Abundant driveway parking

Additional Misc. Features

  • Wired for portable generator
  • Reverse osmosis filtered drinking water
  • Water softener
  • Newer large water heater (2018)
  • Central vacuum
  • Integrated security system
  • 2-zone heating & cooling
  • Year built: 2008 approx.
  • Taxes: $21,600 approx. (2020)

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