Hurricane Sandy Momentarily Stalled the Real Estate Market But We Are Back and Stronger Than Ever Before!

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When Hurricane Sandy hit our region there was obviously much despair going on and subsequently a lot of damage suffered by many homeowners to their property. I want to take a moment to reach out and extend my deepest concern for those that have endured the suffering that can only be expected from such an enormous storm. Please know that in my many years of service in this industry, I have come to know and trust a lot of quality contractors. So if you need anyone to help repair, renovate or rejuvenate your home after the wrath of Sandy’s damage, let me know.

In terms of our real estate outlook, things could not be better. Just before the hurricane hit our region we had been seeing a continued strong surge of home sales as well as inventory levels that continuously dropped. Today, we are back in the same swing of things and our market is very strong. In fact, we are seeing very strong indications of a highly active spring market yet to come.

With inventory levels as low as they are and buyers out there very eager to lock in amazing interest rates that are still available at historic lows, this is an excellent time to buy AND it’s an excellent time to sell.

For buyers: it goes without saying that this kind of opportunity may never happen again in our lifetimes. Rates this low have never been seen and they might never be available again so at savings that amount to several hundred dollars as compared to what you might have paid at just a couple more percentage points, buy now!

For sellers: Fewer homes on the market during the cooler months of the year means less competition. In fact, sellers today are enjoying the best time in years to sell their home, often with multiple offers and even price wars for some homes. As long as you price competitively and show the home well, you should be able to sell it for top dollar.
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If you have been unsure of whether to list your home, trust me when I tell you that now or even the spring is going to be one of our strongest markets ever. If listing in the spring seems more in the cards, utilize the holidays’ down time to spruce up your home and prepare it for sale. You’ll be glad you did come closing time when you are able to get the most money for your property in the least amount of time!

As always feel free to call me, your trusted real estate advisor, for more information about this or any other real estate needs you may have. I would be happy to identify some of the things you can do to get the home ready for the market.

Harness Your Selling Power As Inventory Levels Continue to Drop in Summit, NJ

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For a long time now, we have been receiving the same inquiry from homeowners that are unsure whether or not it is a good time to sell their homes. And for equally as long a time we have been cautious in our advice keeping in mind the struggling market we saw after the housing industry crashed in 2007. But today is a new day and now we have new advice.

Inventory levels have consistently dropped over the past couple years – so much so that today, we are looking at one-fifth fewer homes on the market as compared to just one year ago. That is a huge difference and the impact it has on our marketplace is also very significant.

For sellers, this means that there is less selling competition on the marketplace allowing them to expect better returns for their home. Buyers will have to get really creative as inventory levels decline further since there will be fewer and fewer good choices available to them.

Looking at statistics again, when you compare the number of homes that have gone under contract during the past year – that is when things really start to stand out. With a twenty-four percent increase year-to-date as compared to the same time frame last year, we can clearly see that there is more buyer activity despite fewer homes on the market.

This amounts to one thing for our sellers; now is a great time to list your home.

Now, many people are wary of the upcoming election and concerned that it may have some bearing on the success rate of homes that are for sale. That is simply not true. In fact, if you spend some time online and browse reputable websites you will see that much of the speculation about election-based housing marketing fluctuations, are just that – speculations. And it is important to keep in mind that even if the election outcome had an impact on the real estate market, those changes would take a considerable amount of time to show up on the ground.

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All in all, right now the signs point to a favorable market for both sellers and buyers alike. Sellers will likely be successful in their endeavor to sell their home and buyers can continue to enjoy record setting low interest rates – that seem to be here for at least a bit longer.

If you would like to sit down and discuss your real estate situation, contact us today for a no-pressure conversation about your options and how the current marketplace would translate your real estate needs. Call 973 214 0691 or email ACutAbove@ShannonAronson.com. I look forward to serving you!

Maplewood, New Jersey Offers Quaint New England Living in a Charming Town

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Drive through Maplewood, New Jersey and you will immediately feel right at home. With the perfect, quaint New England town feel as you move through downtown to the lovely landscaping you will find throughout – Maplewood has a lot to offer its residents.

Dotted with local businesses that have been around in the community for a long time, locals love to frequent the mom and pop shops that make up much of downtown Maplewood’s backdrop.

Restaurants are also plenty here with some of my favorites including Arturo’s, a great place for pizza and Italian fare. There is also the Coda Kitchen and Bar for those of you that don’t know what you feel like for lunch for dinner (they have anything from grilled cheese to Thai food). And if you are into cooking yourself you will absolutely love the Freeman’s Fish Market – offering all kinds of fresh fish delivered to your front door and still locally owned and operated.

In terms of transportation, the Maplewood Station offers flexibility to residents – with the commuter short train lines that take people from their homes or blocks in their neighborhoods directly to town, saving them from parking hassles. The education system in Maplewood has recently taken a huge climb in the New Jersey Monthly Magazine’s school rankings going from 75^th in line of the state’s best school systems to number 47.

No matter where you turn to look, you will be charmed by the beautiful New England style traditional homes that mostly dot the landscape of Maplewood, New Jersey. This is the perfect place to consider if you are looking at this area to buy a home. We are seeing a continued decline in the number of homes available, with 31% down from last year. With interest rates as low as they continue to be, this is a great time to invest in a home – and Maplewood is the perfect place!

If you would like to explore this community or others in our area – I invite you to contact me at 973.214.0691 or email ACutAbove@ShannonAronson.com. I look forward to working with you!