Category: Real Estate News

2014 home remodeling trends

According to the National Association of the Remodeling Industry data of current and future remodeling business conditions continues to show growth. Quarter-over-quarter increases are evident in nearly all sub-components measuring remodeling activity. This rating has steadily increased in the six quarters NARI has been tracking. For more details, please visit: http://www.nari.org/news/article.asp?ARTICLE_ID=1686#sthash.5eznhtkn.dpuf

Why is this happening?

While many homeowners are remodeling due to necessity, there are other factors which have contributed to the rising remodeling rates. With the economy on the up and up, homeowners are feeling confident in their job security and overall financial well-being.

Growth indicators in the third quarter of 2013  were on an incline for:
•    Current business conditions
•    Number of inquiries
•    Conversion of bids to jobs
•    Value of jobs sold

Requests for bids remained the same as last quarter.

Home remodeling significantly increases the overall value of your home. If you are remodeling your home so you can sell it for more money, please consult with a professional before undertaking any major renovations.  Some improvements bring you a better rate of return on your money than others.

Any questions you may have about home remodeling and how it affects your resale value, contact your real estate consultant Sujatha Bhaskara at 732-319-1340 or sbhaskara@optonline.net.

Creating Multiple Offers from Marlboro Home Buyers This Fall

For anyone who has listed their home on the Marlboro market, the equivalent of winning the lottery is a call from your agent telling you that multiple offers are on the way. It’s like hitting the jackpot — especially when the house draws top dollar and gets above asking price offers competing with each other.

Although the tactics that can trigger such a phone call vary by location and property type, a few overriding concepts put you far ahead in the competition to attract Marlboro’s motivated home buyers—

  • Build excitement
    Marlboro home buyers are like everyone else: whenever there’s a crowd, natural curiosity prompts us to find out what all the fuss is about. When you list your property a few days before beginning the showing process, you increase the odds of drawing a larger turnout on the first days of showings — or at your well-publicized open house. When homebuyers sense they are being shoehorned into a full schedule, they get the message: this one is hot! In a real estate environment where word-of-mouth can play a key role, it’s smart to actively set up buzz and good press around your property.
  • Team with a pro
    Nothing prevents you from doing all the legwork yourself — if you have the spare time, that is (and don’t mind wading through reams of property data online, taking all the home buyer calls, working through their schedule changes, etc.). But when you team with a seasoned agent to perform the prep work for you, it frees your time to tend to more important tasks. Also, professionals have experience in screening potential Marlboro home buyers and encouraging only those who are best qualified to make an offer — ultimately saving you time, effort and expense down the road.
  • Spruce it up
    As important as any other factor is being able to focus your energy on maintaining your home in impeccable shape. It is so true that you don’t get a second chance to make a first impression. The dollars spent here and there on maintenance can draw ten times as much at closing. Marlboro home buyers usually have no trouble paying a bit extra for a well-maintained house. When home buyers are presented with a property in absolutely excellent shape, it communicates long-term value — as well as a solid, trouble-free investment!

For additional information, please contact Sujatha Bhaskara at Keller Williams Realty by calling 732-319-1340 or by emailing at sbhaskara@optonline.net. Receive a custom evaluation for your home, including comparisons to other homes that have recently sold or are on the market and learn more about successfully positioning your Marlboro, NJ property to sell in a short time frame. For more information on what’s happening in the Marlboro, NJ real estate market, sign up to become a Marlboro Market Insider today!

Marlboro Homes Fall Market Update

Real estate prices fluctuate based on supply and demand. It continually fluctuates each year and each season. If you are thinking about purchasing or listing a home, the following is information on the Marlboro Homes Fall market update.

Seasonal Changes

Fall traditionally is an active time of year. Buyers try to complete their property purchase prior to the winter, the holiday season, and year end (for tax benefits). Mortgage rates continue to be at historic lows, allowing more buyers to afford home ownership. This season, after the crazy Spring and Summer we have had Marlboro/Mprganville area is facing a shortage of inventory. This is because of the high demand we have had for homes during the past 6 months, fewer foreclosures, owners waiting for prices to rise, or owners falsely believing that the market is stagnant. Whatever the cause, it is causing low supply during a time of high demand. The result is a lot of activity for listings new to the market, multiple offers on desirable properties, and properties quickly going under contract.

More on the Marlboro Homes Fall Market Update

If you are thinking of selling, now is a great time to do so. Most of the Buyers shopping during these months are motivated as they want to be in their new home before winter begins. With a seller agent who knows the area, your house can be positioned to sell within a reasonable time frame and for maximum market value. Listings in good shape and priced right will not last long in this market. If you are thinking of buying, get pre-approved and be ready to act quickly. This Marlboro Homes Fall market update article is only an overview. For specific Marlboro or Morganville real estate news or assistance with your home sale or home search, contact Sujatha Bhaskara at Keller Williams Realty at 732-319-1340.

What does the fiscal cliff mean for real estate?

January 1, 2013 marks the day that the Senate and the House passed the legislative bill to avoid the looming fiscal cliff. So, what does this mean for the real estate market and, more importantly, home owners and buyers?

Mortgage relief

Ahhh. Many of us can breathe a sigh of relief at the sight of those two words. The new bill extends the mortgage debt forgiveness relief until January 1st of next year. This is great news for homeowners going through a short sale or a foreclosure. This means that they don’t have to pay tax on the amount of debt that is forgiven.

There are also deductions for mortgage insurance premiums. Those of us making $110,000 or less qualify for this new condition which has been extended through 2013 and is applicable for the year of 2012 as well.

Time to go green

Going green is not just a trend to make you feel good about yourselves! It is finally time to reap some fiscal benefits for being friendly to our environment. Home owners who have made energy improvements to their homes are now eligible for a 10% tax credit, up to $500. This is applicable for the new year and for 2012.

Taxes, taxes, taxes

That lovely little word that packs so much of a punch for most of us, taxes. Estate taxes are exempted for the first $5 million in individual estates and the first $10 million for family estates. Estates which supersede these amounts are subject to 40% taxation, which is indexed for inflation.

Sellers who have resided in their primary home 2 out of the last 5 years, can continue to take a deduction of upto 250,000 on the gains from the sale of their primary home. For married couples, this would be upto 500,000. Capital Gains rate stays at 15% for individuals with the top rate of $400,000 and couples with $450,000 joint return. Any gains above those amounts will be taxed at 20%.

Pease, please

Remember those “Pease limitations?” They have been repealed for most of us, but those who have $250,000 annual income ($300,000 for joint income), are now subject to these laws once again. Tax reduction cannot be greater than 80% of the filer’s total itemized deductions, and rates are indexed for inflation.

Commercial recovery

The new bill also has an effect on commercial properties. There is now a straight-line cost recovery spanning 15 years for leasehold improvements on these properties. This is extended through 2013 and also active for 2012.

What are your concerns about the effects of the new bill? As always, feel free to contact me, Sujatha Bhaskara, with any questions about this or anything about real estate. I can be reached at 732-536-9010 or sbhaskara@optonline.net.

For more information, revert to this article or NJ Real Estate

Marlboro, NJ foreclosure year-end report 2011