Living in Millburn-Short Hills NJ

and the surrounding areas

(973) 202-7270

In Millburn/Short Hills: If a Lender Pulls My Credit, Won’t it Lower My Credit Score?

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Are you pre-approved for your home purchase?

If not, you need to be, and no, it won’t affect your credit rating.

In today’s real estate market, serious Millburn/Short Hills buyers know that the home buying process cannot begin in earnest until they are pre-approved, not pre-qualified for a mortgage. Pre-qualification is based upon “stated” numbers regarding monthly revolving debt, income, and other general information whereas pre-approval is based on verified facts. In the verification process for pre-approval lenders must make inquiries on employment and even check your credit score.

Luckily the Fair Credit Reporting Act recognizes this as a permissible and valid reason for a company to access your credit and it will NOT affect your credit rating or score. Mortgage lenders can run a “soft” credit check, sometimes called a “quotation check” to verify your credit worthiness and pre-approve you for home purchase. It is also interesting to note that multiple lenders can do this (within a 14 day period) without it affecting your credit score, if you want to compare loans. You can also check your own credit report as many times as you would like without causing harm in the same manner. In fact, before meeting with a lender or considering purchasing a home, you should evaluate your credit report and make sure it is error free.

Other types of credit inquiries CAN affect your credit report, so refrain from opening lines of credit at clothing, furnishing stores or car dealerships and other installment retailers until your loan is funded. Credit inquiries account for less than 10% of your overall credit score, but it is still not worth the risk when purchasing a home is in your near future. To keep yourself credit-worthy, make your payments on time, continually strive to increase your income, and make sure the monthly amount accessed on each of your credit cards is less than 30%. These proactive measures will go a long way to helping you secure the loan you need and the home in Millburn/Short Hills that you want.

In A Hurry To Sell Your Millburn-Short Hills Home?

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If you are considering listing your Millburn-Short Hills home for sale, recent market studies have indicated that we are entering a seller’s market, so your timing could be perfect! A decrease in inventory in the housing market is good news if you need or want to sell your home quickly.

As a home seller, there are three areas where you can have major impact when selling your home.

Of course the appeal of your home is a prime consideration, but did you realize that the marketing efforts and pricing are key as well?

Price to Sell and Expect Results!

When time is of the essence, be careful not to set your price too high. Even if your home is “worth” more than your neighbor’s or “seems” like it should bring a high price, be realistic and aggressive in your pricing. Remember that home searches are typically focused on price, and plan accordingly. Would you rather only appeal to the $500,000 buyer when your home is worth $505,000, or open your options to the buyer who has a search parameter set at $499,000? The key here is exposure – when time is short, you want as many buyers as possible viewing your property! Price your home to sell and look forward to a quick sale and multiple offers.

Harness the Power of the Internet to Sell Your Home Fast!

Recent surveys report that 86% of home buyers begin their search on the web. Your home needs to be there, as well. In addition to having a listing page with property details, consider resources such as Craigslist, Realtor.com, and other sources throughout the internet. Ask about syndicating your home listing to make sure it gets as much exposure as possible.

In your listing marketing efforts, don’t forget pictures – lots of them! Buyers in the Millburn-Short Hills area want to “see” what is available before comparing homes in person. Make sure your photos are attractive and will sell your home. In doing so, you create a connection with your buyer before the home has even been visited.

Clutter-free and Clean Make For a Speedy Sale!

Look through your home with a critical eye. Minor repairs and touch-ups should be done to create a well-maintained look and your home needs to be very clean. Remove furniture and clutter as necessary. An orderly home is a home that sells fast!

Buying a Home In Millburn-Short Hills Still Considered a “Best” Investment in U.S.

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Buying a home in Millburn-Short Hills has several unique advantages when compared with renting. Aside from being able to decorate as you choose, receive additional tax benefits, enjoy stability in your housing payments, and increase your ability to make future investments, it just feels good to own your own home!

A survey conducted last month by the PEW Research Center, a non-profit, non-partisan organization considered a “fact tank” on social & demographic trends in America, determined that the majority of adult Americans (81%) still believe “that buying a home is the best long-term investment a person can make.” It is interesting to note that while the same study showed that 47% of those surveyed felt that current economic factors have resulted in a decrease in their current home value, those same home owners felt that their home investment was a safe one.

Even renters seem to agree with the idea of investing in a home, with 81% wishing to buy a home at some point, even if individual circumstances prevent it currently. In fact, when asked to rate long-term financial goals, homeownership and “being able to live comfortably in retirement” were rated the highest by 80% of those surveyed. Survey participants seemed to understand that owning a home provides more than an avenue for generating savings – it also is a place to live and provides an element of physical and emotional stability unlike other investment options.

Further pursuing this question, the survey compared investments – trying to determine which held fast in the long run – the stock market or the housing market. The answer was variable, depending on the year of investment, however, and unable to be determined overall. One item not considered in the survey is that owning a home provides income tax benefits that are not likely to be found in other investments, which could affect the dividend bottom line and how you choose to invest. Click here to view the survey in its entirety.

The Next Step In Buying A Home-

Buying a home in Millburn-Short Hills with the historically low interest rates and our Blue Ribbon Schools  is the perfect opportunity for the first time home buyer to take advantage of what our community has to offer. I post the market trends monthly and having lived in Short Hills and now Chatham for over 30 years, knowing this town and these homes is the easy part for me. Call me or text me.

Home Prices Show Strongest Gain in 6 Years: NAR

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Millburn High School In The News

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Newsweek 2012 has just come out with America’s Best High Schools 2012 and Millburn High School along with many of our other Midtown Direct schools have made that list. The ranking highlights the best 1,000 public high schools in the nation—the ones that have proven to be the most effective in turning out college-ready grads. The list is based on six components provided by school administrators: graduation rate (25 percent), college matriculation rate (25 percent), AP/IB/AICE tests taken per student (25 percent), average SAT/ACT scores (10 percent), average AP/IB/AICE scores (10 percent), and AP courses offered  per student(5 percent).

US News and World Report  came out with it’s US Public High School Survey and Millburn High School  scored 12th in NJ and 214th Nationwide.

If you would like to learn more about my local community or discover the meaning behind A New Suburbanism click here or contact me at 973.202.7270

Real Estate Charts of the Day: Chatham NJ Listing and Sales Inventory for April

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 The Contract Sales May 11, 2012 are posted and Chatham is having a great spring.  Chatham High School    topped area results, scoring 7th in NJ (173rd nationwide).  61% of Chatham students passed AP exams – and will receive college credits for their success.  Active Inventory in Chatham is down year to date. In the boro this time last year we’re flat. In the township, it’s 106-83 year to date . My home sale statistics for April have just been posted with information you’ll want when purchasing a home. Search the MLS  for all the NEW listings and keep yourself up on what’s coming on the market and what’s selling.

If you would like to learn more about my local community or discover the meaning behind A New Suburbanism click here or contact me at 973.202.7270

Real Estate Charts of the Day: Summit NJ Listing and Sales Inventory for April

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The Summit Contract Sales May 11, 2012 are up 30% and Active Inventory in Summit is down from 140 in 2011 to 122 in 2012.  My home sale statistics for April   have just been posted with information you’ll want when purchasing a home. Search the MLS  for all the NEW listings and keep yourself up on what’s coming on the market and what’s selling.

If you would like to learn more about my local community or discover the meaning behind A New Suburbanism click here or contact me at 973.202.7270

Real Estate Charts of the Day: Short Hills NJ Listing and Sales Inventory for April

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 The Contract Sales May 11, 2012 are up 3% while the Active Inventory in Millburn-Short Hills are up from last year at the same time; no surprise from 126 to 143 . My home sale statistics for April have just been posted with information you’ll want when purchasing a home. Search the MLS  for all the NEW listings and keep yourself up on what’s coming on the market and what’s selling.

If you would like to learn more about my local community or discover the meaning behind A New Suburbanism click here or contact me at 973.202.7270

 

 

 

Buying A Home In Summit NJ? Apps Can Help!

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Each day technology becomes even more impressive as new tools, products and apps are rolled out that truly have a place in your daily life. It can be exciting and exhausting to try to find the ones that will benefit you. As a homebuyer, it can be overwhelming to narrow down all the choices.  With that in mind, I’ve made my real estate website tech and mobile friendly in the hope that you will find the results you need in your search, however, when it comes to buying a home in Summit NJ, these apps may of benefit to you as well.

Many of these apps are even offered free of charge, although they may request your location information in order to produce the results you desire. If you want more specific information or ideas on specialized apps for your tech devices, please give me a call so we can brainstorm on how I can help meet your real estate needs.  In the meantime, though, check these out!

Not sure where you want to live?

  • Nabewise Get to know neighborhoods in-depth, complete with pictures, reviews and ratings ond rankings on the things you care most about.
  • GreatSchools Get to know local school options and read reviews by staff and parents of children attending the schools. Schools are also scored based on scores and ratings.
  • Yelp Find the best restaurants, shopping, and entertainment in the area you are researching directly from the people who live there. A true “insider’s view.”

Trying to keep track of everything?

  • Evernote Keep track of your buying process, including the information on homes you have seen, complete with your personal notes!

Want to compare?

  • House Hunter This tool allows you to set priorities on your wants and needs and match them to homes you are considering with the feature list and also has a mortgage calculator built in.
  • Trulia – Easy to use and even includes a help button! Depending on your mobile device, you can check and compare listings and even search by feature using your voice.

Looking for actual numbers?

  • Zillow Zestimates and make me move allow you to get an idea of what homes cost on any street and even permit you to make offers to home owners who do not have their property for sale.
  • Realtor.com Get stats on new homes, sold homes, and homes for sale easily and quickly, including price changes in any neighborhood.

 

Short Hills NJ-Boxcar Bar & Grill: Location is Everything

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Location is everything and the The Boxcar Bar & Grill in Short Hills, NJ got it right. If you are from this area, you know that last Thursday night was Girls Night Out in Millburn; (My Office)..  The Keller Williams Premier Properties from Summit, NJ is about to open in another location in June — Short Hills at 518 Millburn Ave, and we all decided to go out first to the NEW- BoxCar Bar & Grill.  The bar/restaurant is located in the Short Hills train station; when you first come through the bar – which is a warm and open space with enough room for at least 40-50 people – it catches you off guard. This was originally a luggage room, and has been transformed into a room with 3 big screened TV’s; it brings in a local crowd right off the Midtown Direct. Lucky them! The location allows the restaurant ample amounts of parking.  Millburn-Short Hills Township acquired the train station in 1966 from the Erie Lackawanna, NJ Transit’s predecessor; several years ago Millburn issued an RFD for a small breakfast concession.

From there, the Boxcar has grown to be a full service restaurant providing a niche for weary commuters and for the local community.  The owners Jane and Jeff Tauber have done a stellar job keeping the integrity of the original station intact. As the weather permits, Marc Cooperman manager of the Boxcar has detailed plans for moving tables outside.  As explained by Lynn Ranieri, Curator of the Millburn-Short Hills Historical Society, Stewart Hartshorn moved to Short Hills from NYC in the 1870’s. He loved the outdoors and sought “to entice nature loving people to move here.”

Hartshorn wanted to make it easy for people to get to and from New York City, so  he built a station which cost $2,500 and persuaded the Delaware Lackawanna Railroad to run tracks trough the area.

I personally think that Stewart Hartshorn would have approved of the Boxcar-

The crowd filled the former luggage room within an hour of arrival with all the Millburn-Short Hills locals. It was a sophisticated intimate crowd, the room was packed with friends and neighbors I’ve known for years, and the food was coming out quickly and everyone was happy. Food is my passion but selling real estate is my bread and butter – Location in Real Estate has always been what it’s about, and the location of the Boxcar is going to make my life in selling Short Hills Real Estate a much easier job!

I’m a Short Hills Real Estate Agent and if you would like to learn more about my local community or discover the meaning behind A New Suburbanism click here or contact me at 973.202.7270

Chinese New Year 2012.. Year of the Dragon!

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Chinese New Year is a time to welcome longevity, wealth and prosperity and to eliminate any negative chi from the past. That clearly works for me! I’ve been lucky over the last year to have wonderful clients that I’ve sold homes to and the end result has been, what I hope to be long term friendships!  Today we shared some of my “favorites” and the best part of the day was that I walked out being crowned the champion of ping pong! I’m slightly competative :-/ Happy New Year to all my friends and much good luck~

All new LOCAL STATS for December are here.  

 
 
If you would like to learn more about my local community or discover the meaning behind A New Suburbanism click here or call me at 973.202.7270

About Robin Benjamin

Understanding the nuances of pricing requires local knowledge that isn't always available to buyers and sellers. This is particularly true in a location like Millburn-Short Hills, Chatham, and Summit.
Robin Benjamin

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