Don't let them fool you - now is as good a time as any to sell your home

There are many great North Central New Jersey area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (973) 214-0691 for a FREE home buying or selling consultation to answer any of your real estate questions.

Conventional wisdom would have it that the spring is the best time to sell your Summit or Short Hills home. Many homeowners are disappointed when they miss out on the spring selling season - they feel they need to wait until next year to maximize their results. While it's true there are more buyers looking for homes during that time of year, it also means there are many more people trying to sell their home. That means more competition for you, that you may have to compromise the value you were hoping for in order to sell your home in a competitive market.

It's as simple as supply and demand - although there are fewer buyers in September, there are also fewer sellers to compete with. Keep in mind that this means the price you are able to get for your home will likely be unaffected by the season you sell it in. Other than August, which is usually a slow month, and around the holidays, there really isn't a bad time to sell your home.

If you're one of those homeowners that feels they missed the boat this spring, there is no need to wait - you can sell your house this fall without losing value. August is the ideal month to prepare your home for the market. Take some photos of the exterior while the grass is green and the flowers are in bloom, there is no better time to do so.

Also, if you are looking to buy this fall, you are in luck. Contrary to predictions, interest rates have fallen. They are still as low as 3%-3.5%, which is fantastic. Conditions simply don't get much better than this and we're not sure how much longer it will last.

Most importantly, if you have any questions about conditions in your specific area, I would be happy to answer them. Give me a call or shoot me an email so we can chat about what to expect this fall. 

The NJ Real Estate Market - Why Does Summer Feel Like Spring for Buyers and Sellers

There are many great North Central New Jersey area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (973) 214-0691 for a FREE home buying or selling consultation to answer any of your real estate questions.

The beginning of June usually signals the end of the spring real estate market in Millburn-Short Hills, Summit, Maplewood, South Orange and Livingston. However, the spring market started much later than usual due to our long and difficult winter and has pushed everything back just a little bit.

Things are heating up in the market right now and it is the perfect time to act if you were thinking about selling your home. The inventory of homes in Maplewood, West Orange and Summit are much lower  than they were at this point last year.

Other towns such as Madison and Chatham are down over 30% in overall home sales from this point last year even though the inventory in these areas is around the same.

Currently, interest rates are extremely low on new homes and things look to be teetering towards a spike in the market as we enter the summer months. It is tough to predict in this constantly changing market place, but it is a good bet for things to heat up in the summer and inventory to rise. You may regret not taking advantage of the current market if you wait that long!

If you have any questions about real estate, or would just like some information about selling your home, please give me a call at (973) 214-0691 or by e-mail at ACutAbove@ShannonAronson.com

Consult with Me to Find Solutions to Your Toughest Real Estate Questions

There are many great North Central New Jersey area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (973) 214-0691 for a FREE home buying or selling consultation to answer any of your real estate questions.

Should I List my Current Home or Buy a Home First?

This is a question I have been receiving from multiple clients lately. It's also a tough one to answer because it depends a lot on your financial and personal situations in life. However, I am glad to clear some things up for you here.

This used to be an easy problem to tackle because people utilized bridge loans, but they are no longer very popular anymore. However, this is a difficult question because this is a tough market to buy in, so people get concerned when they list their home and don't know where they will be living next.

On the other hand, it is difficult for most people to feel comfortable buying a home before selling their own. It's already hard enough to get one mortgage, but getting two mortgages at the same time is very risky if your finances are not straightened out.

So, if you're planning to buy and you already own a home, there is one question you need to have a crystal-clear direction on from your mortgage broker. That question is: Will a mortgage broker give you a pre-approval that says it is not contingent on the sale of your home?

Home sellers do not want to see that the purchase of their property will be contingent upon you selling your current home. It is very likely that sellers will not want to wait around for you to sell your property in order to buy their own.

So, as you can see, this is actually a very delicate situation that requires a lot of planning and expertise. Everyone will have different parameters in a situation such as this, so it would be best for me to sit down and have a conversation about how to best tackle this from your own unique perspective.

I would love to organize a time for a thorough consultation with you where we can analyze the upsides and downsides of going through with this type of decision. Usually the answer will appear after a little bit of deliberation and research into your current financials and your future plans.

So, if you have any interest in discussing this or if you would like to discuss our local market here in Summit, then please give me a call and I would be glad to answer any and all of your questions.

I can be reached at (973) 214-0691 or email me at ACutAbove@ShannonAronson.com