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Beatrice Bloom, Princeton Real Estate Agent

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BUYER FLEXIBILITY IN THE SELLER’S MARKET

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Princeton Town Topics – Let’s Talk Real Estate – February 24, 2021

BUYER FLEXIBILITY IN THE SELLER’S MARKET

The real estate market is showing no signs of slowing down as Spring 2021 approaches. Demand for suburban and rural areas remains high, while inventories are extremely low. The lack of inventory has plunged the region into a strong seller’s market that comes with its own challenges.

Right now, homes that are priced correctly are gaining multiple offers, often selling over the asking price. Many are going into contract within a few days of being listed for sale. Buyers who can be flexible on their move-in date may be more attractive than buyers who have firm deadlines.

We’re also seeing some creative solutions that allow more sellers to   cash in on the current market. For example, post-closing leaseback agreements are becoming more common as an option. In a leaseback agreement, the seller remains in the house after the closing for a      specified period of time, in effect becoming the buyer’s tenant. This can allow sellers to take advantage of the market while they find a new home.

WHAT MANY HOME BUYERS WANT MOST NOW

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Princeton Town Topics – Let’s Talk Real Estate – February 17, 2021

WHAT MANY HOME BUYERS WANT MOST NOW

Current home buying trends reflect changes brought on by the pandemic and its expected aftermath. Buyers are planning to spend more time at home in the future, particularly as companies continue to offer remote work options to their employees as a permanent option.

Here are some of the features that are currently in high demand:

  • Larger yards and outdoor living spaces. This includes decks, patios, and room for amenities such as a fire pit. People want outdoor space of their own to enjoy.
  • Updated kitchens tend to top buyers’ wish lists no matter the real estate trend. But buyers are looking for larger kitchens and upgraded appliances.
  • Rooms that can be converted to a permanent home office space.
  • Multi-purpose spaces for children who are learning at home. This includes room for computers, activity tables, or even gaming areas.
  • Energy-saving windows, siding, and HVAC systems.

Both first time home buyers and those looking to upgrade to a larger home are looking for similar features. These features are popular in both suburban and rural markets alike.

CHOOSING A SMART DOORBELL

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Princeton Town Topics – Let’s Talk Real Estate – February 10, 2021

CHOOSING A SMART DOORBELL

The smart doorbell is one of the most popular smart home devices on the market today. While features often vary depending on the brand, basically a smart doorbell is an internet-connected device that is equipped with a video camera. When someone arrives at your doorstep, the smart doorbell alerts your smartphone or other device and allows you to see and interact with your visitor, even if you’re not at home.

Smart doorbells offer both home security and convenience. The remote video and audio features are especially useful in this time of social distancing. For example, if you’re receiving a delivery, you can ask questions or provide instructions without opening the door.

When choosing a smart doorbell, some of the options or features you may want to consider include:

  • Wide-angle view camera
  • Night vision capability
  • Motion detection
  • Battery-powered vs hard-wired
  • Cloud storage of video recordings for later view
  • App and smart device support from Alexa or Google

Even the most budget-friendly options include some of these features, and many are easy to install. There are also models with more advanced features such as voice recognition and extra security sensors.

BUYERS BENEFIT FROM MORTGAGE LOAN PRE-APPROVAL

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Princeton Town Topics – Let’s Talk Real Estate – February 3, 2021

BUYERS BENEFIT FROM MORTGAGE LOAN PRE-APPROVAL

Are you thinking about purchasing a home? Obtaining a mortgage pre-approval from your lender is a crucial step to take before you begin.

A mortgage pre-approval is a statement from a lender indicating that you are qualified for a mortgage loan up to a specific amount. The lender will provide you with a letter verifying the details.

There are several benefits to having a pre-approval letter in hand before you begin your home search, including:

  • Provides credibility. Pre-approval identifies you as a qualified buyer. Realtors and sellers will have confidence in your ability to complete a successful home purchase.
  • Educates buyers. You’ll have an understanding of what price level of homes you can afford. This will help you have a realistic idea of what houses or areas to search in.
  • Faster process. Pre-approval may allow you to move faster on a property, and may speed up the buying process.

Note that pre-approval does not guarantee a final approval. Other factors, such as a low property appraisal report, could affect the final loan approval on a specific property.

HOME HAS TAKEN ON MORE THAN EVER

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Princeton Town Topics – Let’s Talk Real Estate – January 27, 2021

HOME HAS TAKEN ON MORE THAN EVER

The concept of home has evolved in many ways during the last 12 months. The pandemic has profoundly changed how much time many of us are spending in our homes and how we’re spending that time.

Real estate professionals know first-hand the emotions connected with the concept of home. Your childhood home, your first home as an adult, your retirement home – the associations and memories of home remain strong throughout your life.

But over the last year, out of necessity, home has had to become more than where we relax, or raise our kids, or grow up. For many, home is now our workplace and where we wind down. It’s the classroom and the playground. It’s the gym and our big night out.

People are handling this new reality in different ways. A record number of homeowners spent last year painting and renovating their homes. Buyers are looking for homes with enough space to allow for at least one home office and space for gym equipment.

Home may be pulling double or triple duty for the foreseeable future. The key may be to find creative ways to adapt when home needs to do it all.

THREE REASONS TO CHANGE YOUR AIR FILTER THIS WINTER

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Princeton Town Topics – Let’s Talk Real Estate – January 13, 2021

THREE REASONS TO CHANGE YOUR AIR FILTER THIS WINTER

Running your heat more this winter? If you have a forced hot air HVAC system, dirt and dust tend to build up more in your furnace air filter when your heat is running longer. Replacing your furnace filter more often in the cold months has several benefits. Here are the most common:

1. Helps your HVAC system. Changing your air filter helps your HVAC system run more efficiently and may even extend the life of your system. A clogged air filter limits the flow of air through the HVAC system. Repeatedly running the heat or air conditioning with a clogged and dirty air filter can eventually cause HVAC problems.

2. Conserves energy and lowers your heating bill. When the filter is clogged, it takes more energy to heat your home. When the furnace filter is clogged, your furnace has to run longer and harder to maintain the temperature in your house.

3. Improves air quality. A clean air filter will function more properly and capture dust, pollen, pet dander and other particles that are in the environment.