Living in Millburn-Short Hills NJ

and the surrounding areas

(973) 202-7270

Waiving Your Appraisal On Your Home In Maplewood NJ

by Leave a Comment

468px-ShakespeareThe famous Maplewood resident, William Shakespeare, once said, prior to buying a home in Maplewood, “To waive or not to waive the appraisal contingency in Maplewood—that is the question.” And William (or Willy as the guys at the deli called him) pondered this for years. What if the appraisal is low? Or, what if the appraisal is wrong? Because he wasn’t using the top real estate agent in Maplewood, he kept losing in bidding wars. Evidently he was busy writing some histories and tragedies, and some sonnets, to seek out sound real estate advice. What a sucker.

It could have been so simple. The truth is, appraisers make mistakes. We all make mistakes. Something as simple as marking off the wrong amount of bedrooms or baths, an incorrect lot size or home square footage, are all things that could throw off an appraisal. So, you ask for a new one. The second option is the price could be reduced to the appraised value and the sale moves on. Or, the buyers put more money in escrow. Lastly, buyers and sellers split it down the middle.

But you don’t have to go down that route, whether you’re a buyer or a seller. Because there are people who can council you, who know the market and what a home in Maplewood actually cost, who have done all of the analysis, and know the ins and outs of real estate in Maplewood. There is Robin Benjamin, the top real estate agent in Maplewood. So, there’s no reason to let a great deal go afoul (Willy’s favorite word) because of an appraisal. We shan’t allow it. We shan’t!

Look, sellers are people. Buyers are people. Even lenders are people (kind of), and as people we can communicate our needs, wants, desires, and not lose great deals and dream homes because of a house being appraised incorrectly. We don’t have to waste everyone’s time and money, and we can get to the business, whether that’s doing the appraisal or not. But listen to her. She knows. The top real estate agent in Maplewood can help you, by communicating and telling the truth of what a home in Maplewood costs, and what a good deal is. We’re all people, and Robin Benjamin works on both sides, seller and buyer.

Sit back, relax, and enjoy the good life. “Living in Maplewood,” as Shakespeare said, is “such stuff as dreams are made on.”

Living in Maplewood and Owning Your Home Just Got Easier

by Leave a Comment

Living in Maplewood is a great choice for young couples.It’s a great time for Millburn-Short Hills and Maplewood millennial home buyers. Mortgage rates are around 3%. The Federal Housing Administration has lowered mortgage insurance premiums. Fannie Mae and Freddie Mac have reduced minimum down payment requirements from 5% to 3%.

Because of the Great Recession, many people now in their late 20s and early 30s have put off purchasing property.  In the past, first-time buyers made up about 38% to 40% of home purchases. Over the past several years, however, that rate has been significantly lower, in some places by as much as 10 percentage points.

For many who have been living in the Millburn-Short Hills area and renting, buying a home is looking better and better. As rents rise and jobs stabilize, the numbers start to tip in favor of buying, and young professionals find themselves touring a Maplewood home or a Millburn-Short Hills Colonial. From sunny Los Angeles to snowy Virginia, agents are reporting a distinct increase in young clients looking to buy for the first time.

There’s a lot to be said for living in Maplewood and for owning your own home. Our community is bustling and there is so much to enjoy! If you commute, its proximity to transit is another huge plus. As an agent who’s been selling homes in this area for years, I can help you find the home of your dreams and a smart way to pay for it!

First-Time Home Buyers Guide to Maplewood Homes

by Leave a Comment

Talk to Robin Benjamin about Maplewood homes and Short Hills real estate.Congratulations on the decision to buy your first home! You’re making a great choice by checking out Maplewood homes and Short Hills real estate. I’ve helped many first-time buyers over the years. Here are a few things to know and think over as you start the home buying process.

The first thing to think about is your price range. Before the financial crash, banks were handing out home loans like hotcakes. This proved to be a pretty bad idea. In general, financial experts advised that housing costs shouldn’t take up more than 30 to 35% of your gross income. Keep in mind that maintenance costs are going to come up, too. When you’re making your new monthly budget, it’s a good idea to set aside an amount to cover things like calling a plumber or roof repair or hiring landscapers. Be realistic about what you can afford. Use the mortgage calculator on the home page to get an idea of the possibilities. Check with a lender to get a pre-approval before you start shopping.

Remember that there are great tax benefits to homeownership. The 2009 stimulus tax credit has expired, but you can deduct your mortgage interest and property taxes from your gross income. This means lower federal taxes. In New Jersey, property taxes up to $10,000 are completely deductible. Keep these deductions in mind when you compare the costs of owning with the costs of renting.

Finally, use your imagination. I see so many first-time buyers who will pass up a great house in their price range in the right place, just because there’s a small defect or oddity. These people don’t realize how much small changes, like new paint or carpet or other small remodeling projects can change how a house looks and functions. Keep an open mind as you tour Maplewood homes. Your dream house is waiting for you!

Millburn-Short Hills NJ Home Shopping in a Snow Storm? Great Idea!

by Leave a Comment

Millburn-Short Hills NJ Home and snowSome buyers might be thinking twice about shopping for a Millburn-Short Hills NJ home with all the crazy snow storms this year.  It might seem like a good idea to wait for spring.  But, actually it’s a perfect time to shop for a home! For one thing, the competition is not nearly as fierce.  Shopping for a Millburn-Short Hills NJ home in the snow keeps plenty of people snugly in their current apartment.  So you’ll probably have an easier time snagging the home of your dreams.

The other advantage to shopping for a Millburn-Short Hills NJ home right now is that you’ll get to see the neighborhood in action.  Want to see how your potential neighbors are going to handle small emergencies that affect both of you?  Watch how they shovel snow.  If they’re making a big deal about every little shovelful, you might want to think twice.

You’ll also be able to tell if the neighbors are friendly if they’re helping elderly neighbors shovel their walks.  If school has been cancelled–as we do preemptively!–you’ll get to meet the neighborhood kids.  All in all, shopping for a Millburn-Short Hills NJ home when snow is in full swing is a great idea.  The snow will let you meet more of the neighbors as well as check to see that you’ll be living on a street that gets the snow plow sooner rather than later.

 

Time to Buy Is Now For Midtown Direct Real Estate!

by Leave a Comment

midtown direct real estate reportsOur local midtown direct real estate market has been amazing and continues to be, everywhere! Take a look at the market stats for Millburn-Short Hills NJ and the surrounding towns, included in this post, you’ll be surprised to see how quickly homes are selling!

If you are looking to buy a Millburn-Short Hills NJ home, you need to focus as much now as you did in the spring market. As interest rates have been rising and the inventory has slowed down, the competition has been fierce and  I’ve seen more multiple offers now than in the last 17 years I’ve been in real estate.

Things to note when viewing these statistics are the prices (of course), but also the days on the market, since that shows you how fast the market is moving for midtown direct real estate. You’ll even see homes that sold in ONE day on these reports!

Other helpful information to view is the number of “active” homes, meaning those you can make an offer on, and the number of “under contract” homes, which already have had offers accepted. All of these factors help you to see an accurate picture of what is really taking place in our real estate market. Call me, Robin Benjamin, to learn more about individual listings or towns – I’d love to help you find your next home!

June Trends for Millburn-Short Hills homes

June Trends for Chatham Borough homes

June Trends for Chatham Township homes

June Trends for Summit homes

June Trends for Maplewood & South Orange homes

June Trends for Livingston homes

June Trends for Maplewood homes

 

 

Millburn-Short Hills NJ Home Reports and More

by Leave a Comment

Millburn-Short Hills home reportsIf you are thinking about a Millburn-Short Hills NJ home or another home in a Midtown Direct town in New Jersey, you are probably interested in local real estate market reports. Whether you prefer to live in a town like Chatham NJ or would rather search for homes in Summit, it’s always a good idea to have a feel for the current real estate market so that you can be more effective in your search.

Listed below you’ll find all kinds of information on Midtown Direct towns for the month of February in report style. Recognizing that only the briefest of information can be shared in these reports, I hope you’ll only use them as a guide, and call me at 973-202-7270 for specifics on homes and areas you are interested in. In February, for instance, if you were buying a Millburn-Short Hills NJ home, you’ll notice 16 active listings and 12 under contract in that market report. You can also scroll down to see Millburn year to date trends and previous months, as well as that same information on other midtown direct towns.

Click on the links below to get the information you seek on the Millburn Short Hills NJ home market and additional New Jersey real estate.

Millburn-Short Hills Market Reports
Chatham Market Reports
Summit Market Reports
Livingston Market
Madison Market
South Orange Market

Using “Comps” to Sell Your Short Hills NJ Home

by 1 Comment

It seems that lately, even when you live in Short Hills NJ, life is constantly on the move. Technology is continuously evolving and when it comes to technology in real estate, there have definitely been improvements! It is now easier than ever to search for a Short Hills NJ home. It is also easier to know how to price a home (or think you do, anyway).

In days gone by, when a person decided to sell their home, they made a critical call – to their local real estate agent – to discuss something called “comps.” “Comps” stand for “comparables” and are still valued today. Knowing what a home down the street sold for or how long the home was on the market prior to the sale were essential elements to setting up a marketing and listing plan for every Short Hills NJ home for sale.

In reality, “comps” are a comparative (and competitive) market analysis which relies in part on the expertise of your agent in tracking and compiling data. You’ll find Short Hills NJ market reports on my website (and for all my towns) that can help you to piece together this information. However, if you call me, I can give you detailed information about your home and those in surrounding boroughs, too. Personally I think that would be quicker and easier for you.

Anyway, it seems that with technology, that personal touch that I prefer to offer is being lost. Clients are turning to “zestimates” or “eppraisals” to make up for the knowledge that used to be generated by local, expert real estate professionals. While that might be a quick answer, and great for when you wake up in the middle of the night, I hope you realize that those numbers are not 100% accurate and can lead to you listing your home in Short Hills NJ for much less of a sales price. Working with a local, seasoned, out-for-your-best interests real estate agent is what you need to sell your home and to discover true, up-to-date “comps.” Knowledge of the current local market market is essential when considering sale price, size and square footage, age and value of a property and it doesn’t always boil down to a numeric formula created by averages.

As a Short Hills NJ real estate agent, there are several things I take care to notice when establishing true “comps” for you. I consider what other properties have sold in the last month. I consider what other properties have sold in the last three months. I evaluate what is occurring in the pending sales market and if open houses are being well attended. I determine whether square footage amounts, home styles and age, and locations are comparable. I ask myself how will the buyer view the home and how can we entice them. I also personally evaluate comparable homes to see why they warranted the sales price to determine if we can do more.

Yes, it takes longer and yes, it requires some footwork on my part. But, I guarantee you will see  a difference in sales price by using the correct “comps” and seek me out when you want to sell your next Short Hills NJ home.

Clarification on the 3.8% Tax-It’s Not a Real Estate Transfer Tax

by 1 Comment

NEW…

By Robert Freedman, Senior Editor, REALTOR® Magazine

Shortly after the federal government enacted sweeping healthcare reform earlier this year, there was considerable concern over a last-minute addition to the legislation: a 3.8 percent tax on investment income of upper-income households to help shore up Medicare. The tax takes effect in 2013.

Among the concerns expressed among consumers and business people, including real estate professionals, both then and today, is that the tax amounts to a transfer tax on real estate. Not true, NAR Director of Tax Policy Linda Goold says…

Clarification on the 3.8% Tax-It’s Not a Real Estate Transfer Tax

Feng Shui and Your Short Hills Home for Sale

by 1 Comment

Selling your Short Hills home can be quite challenging at times, causing sellers to question what they can do to make the sale occur more quickly. Service providers such as home stagers, organizers, and professional clutter eliminators can all offer assistance, but many sellers are also considering the art of feng shui, through consulting services or as a do-it-yourself technique. Feng shui offers some universal principles that can benefit in selling a home, whether you subscribe to tenants from the form or compass school, or prefer the eight mansion Bagua theory, so utilize the ones that work best in your home. The overall goal is to create “positive chi” or energy flow in each room of your home.

This quote from A Guide to Quality, Taste & Style, by Tim Gunn, can help you understand how something as seemingly insignificant as a closet can affect you and your potential buyer. “Closets are where we hide things: skeletons, forbidden loves, terrible birthday gifts we couldn’t return. It is for this reason that deciding what to wear while staring into those murky depths can be not just daunting, but emotionally exhausting as well.”  Using feng shui techniques, you can clear the clutter, along with the negative memories and energy, creating a home that will sell more easily.  On that note, let’s move to 5 real tips that will give you positive emotional energy while readying your home for sale.

  • #1 Open the windows and doors. Let a breeze blow through your home to clear the negative energy and refresh you as you begin your work.
  • #2 Step outdoors onto your walkway, the entrance of your home. What do you see first when you walk into your home?  Clear any cobwebs and dust and make sure nothing is blocking the entrance. If you have to step over something, remove it.
  • #3 Add energy with greenery. Whether an indoor or outdoor plant, make sure your home feels vibrant through adding plant energy. You can do this through exterior landscaping, by adding fresh flowers to the entry, or with the addition of indoor plants.
  • #4 Add positive energy through art and movement through proper mirror placement. There are tons of books that can guide you through this step, however, remember that the goal is to reflect positivity and not overwhelm or create clutter in your home for sale.
  • #5 Clear the clutter. Cull what you don’t need and create a “spa feel” throughout your home in all rooms. Counters should be free of objects and papers, furniture should be placed to allow for ease of movement. Any obstacles to interior door entrances should be moved.

While these tips may not offer a “cure all” to getting your Short Hills home sold, they can definitely point you in the right direction. Stop by the library and get a few books on feng shui to increase your knowledge.  As you do, take care to notice your landscaping and apply some shine and good chi to your Home for Sale sign, too.

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

In Millburn/Short Hills:Codes and You – Scan One Now & See

by 1 Comment

Have you noticed the odd bar code boxes showing up on Millburn /Short Hills real estate signage and flyers lately? Do you recognize them as QR codes? Are you shaking your head wondering what a QR code actually is and does? Do you have a smartphone?

A QR code is very similar to a UPC bar code that is used in pretty much every store, from where you buy your groceries to where you shop for clothes. It gives detailed product information. In a matter of seconds, using your smartphone, you can get all the information you desire on the item at no cost and with less hassle.

With a QR code, you can read about the product, including a home for sale, using your smart phone easily and fuss free. You can efficiently scan the “house for sale” flyer you found on your doorknob or the for sale sign of the home next door to your daughter and discover the details of the home without having to make a phone call. You can be directed to a real estate website that will show you more homes and other resources, too, if you desire.

As a real estate agent, I enjoy QR codes because they allow me to “show” you the house BEFORE we even talk. You can view pictures, videos, floorplans, community information and status – everything you want to know – instantly. I personally dislike having to wait for a call back when I want information, so I use QR codes to make sure you can find out what you need to know, when you want to know it!

So, please let me know what you think. I value your opinion and wanted to educate you on what and why those little fuzzy boxes exist. Do you love QR codes, too, or would you rather see my picture on a sign instead?  Maybe both?  🙂

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

Join Me on Facebook