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Beatrice Bloom, Princeton Real Estate Agent

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MILLENNIAL BUYERS REMAIN A KEY FACTOR IN HOUSING MARKET

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Princeton Town Topics – Let’s Talk Real Estate – August 25, 2021

MILLENNIAL BUYERS REMAIN A KEY FACTOR IN HOUSING MARKET

The latest housing trends report from Realtor.com reveal that housing prices continue to grow in most markets nationwide, even though the gains have slowed in some regions. Market watchers say that an increase in the number of smaller, lower prices homes on the market are a main reason behind the current market change. The seller’s market remains firmly in place, as buyer demand remains steady.

Even as autumn approaches, buyer demand for houses in the suburbs show no indication of declining anytime soon. Buyers have had more buying options in the last month or so, as inventories are certainly higher than they were a year ago. Low interest rates remain one reason for higher demand, but there are other key factors affecting the current climate.

First, COVID uncertainty remains, and as people continue to work from home for the foreseeable future, larger homes with backyard space and room for home offices will stay firmly in demand.

Also, millennial home buyers with growing families continue to drive demand for suburban housing. This group of home buyers are responsible for higher sales in many of the hottest real estate markets.

HOW TO SELECT A MOVING COMPANY

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Princeton Town Topics – Let’s Talk Real Estate – June 16, 2021

HOW TO SELECT A MOVING COMPANY

Finding a reliable and secure moving company can be a daunting task, whether you’re moving 5 miles or 500 miles. With careful research and planning ahead of time, it’s possible to take some of the uncertainty out of the process. Here are some tips to get started.

Do your research. A personal recommendation from a family member or friend for a moving company is a good place to start. Referrals from recent experiences (within a few months) are best. Online research from Angie’s List, Yelp, Google Reviews, and the Better Business Bureau are also good sources.

Obtain several estimates. Request written estimates from 3-5 moving companies so you can compare. Look for hidden fees, additional costs for long distance moves or shipping, what type of insurance coverage they offer.

Choose a licensed mover. You can avoid unscrupulous companies by making sure the moving company is licensed by either the Department of Transportation or the Federal Motor Carrier Safety Commission.

Your realtor is also a good source for local moving companies and may be able help with specialists for long-distance moves.

MULTIPLE OFFERS IN A SELLER’S MARKET: HOW TO STAND OUT AS A BUYER

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Princeton Town Topics – Let’s Talk Real Estate – May 26, 2021

MULTIPLE OFFERS IN A SELLER’S MARKET: HOW TO STAND OUT AS A BUYER

Bidding wars and surging house prices are the norm right now in real estate markets coast-to-coast. Anyone looking to buy or sell a house in this market should be prepared for a multiple-offer situation. Here are some ways buyers can differentiate themselves beyond the offer amount itself.

  • Be as financially prepared as possible. Having a mortgage pre-approval in hand is a given. Buyers who can put down a larger percentage of the down payment in cash may be more attractive to sellers.
  • Have few or no contingencies on the sale, such as needing to sell another property before closing. In some cases, buyers are waiving appraisal contingencies, limiting inspection demands and even waiving inspections.
  • Be flexible. If you can accommodate a quick closing, or let the seller stay in their home longer, that may place you in a better position than other buyers.

Working with a real estate agent you trust is also important, so that you can depend on their skills and expertise when it comes to negotiating a deal.

MILLENIALS ARE NOW THE MAJORITY OF CURRENT HOMEBUYERS

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Princeton Town Topics – Let’s Talk Real Estate – May 5, 2021

MILLENIALS ARE NOW THE MAJORITY OF CURRENT HOMEBUYERS

The strong sellers’ real estate market is showing no signs of slowing down. Market data and trends are revealing some interesting patterns in many of the hottest markets, including those here in New Jersey.

One of the notable trends is that a majority of the buyers looking to purchase homes in New Jersey are millennials, possibly as high as 72% of all buyers in the state. There are several key reasons why this generation, currently between the ages of 25-40, are starting to buy instead of rent.

The continued low interest rates are certainly part of the reason for the increase in demand, as many potential homebuyers wish to make a purchase while interest rates remain stable. An interest rate increase will likely reduce buying power for some homebuyers.

Many millennial buyers are also leaving city life in order to purchase larger homes with more outdoor space in the suburbs. Some of the rush is due to the pandemic. But more millennials are starting families, and are looking for homes and neighborhoods to raise them in.

Meanwhile, inventories of homes for sale remain near 10-year lows, with most houses moving quickly as the summer season is approaching.

SHINING SOME LIGHT ON SOLAR PANELS FOR YOUR HOME

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Princeton Town Topics – Let’s Talk Real Estate – April 28, 2021

SHINING SOME LIGHT ON SOLAR PANELS FOR YOUR HOME

Homeowners who would like to follow a greener lifestyle and save on energy bills often decide to invest in solar panels. Most people who consider solar panels are swayed by the potential to save money on their future electric bills over 10+ years.

But studies show that solar panels are also viewed as an upgrade to a home similar to a renovated kitchen or bathroom. Solar panels can increase a home’s value in a range of 3-4% or more.

New Jersey is one of the states where solar carries a higher premium, as the state offers a combination of grants and tax incentives. Some estimates show that in NJ, homes with solar panels can sell for 9.9% more than homes without solar energy panels.

It’s important to note that the higher home values pertain to homeowners who own their solar panels outright. When solar panels are leased and owned by a third-party company, that value might not transfer when the home is sold. The bottom line: do your research more committing to a specific solar energy investment.

SPRING HOME STAGING IDEAS TO SPARK BUYER INTEREST

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Princeton Town Topics – Let’s Talk Real Estate – April 21, 2021

SPRING HOME STAGING IDEAS TO SPARK BUYER INTEREST

Home staging doesn’t have to be overwhelming. If you’re selling your home this spring or summer, here are some simple but effective do-it-yourself staging ideas that can help your get started.

Pare down closets and cabinets to maximize space. Overstuffed closets and cabinets look much smaller than their actual size. Box up your bulky winter clothing, such as coats, sweaters, and boots. Keep the remaining items organized and spaced apart. This is also a great time to clear out your pantry, bathroom cabinets and linen closets.

Deep clean everything. Take Spring Cleaning to a new level. Go room by room and make sure nothing is overlooked – floors, walls, light fixtures, doors, windows. In the kitchen, wipe down cabinets and clean appliances inside and out.  If you have carpets, consider having them professionally steam cleaned.

Add some quick color. Add some bursts of color in your living spaces with throw pillows, colorful towels in the bathrooms, and fresh flowers for your kitchen or dining room. Make your rooms brighter by opening blinds and drapes before showings.