4 Reasons to Buy a Home This Winter

 

Here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.0% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase 

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, you are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgageeither yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

 

Ask me about the McLain Realty Team’s Exclusive 2 Year Love IT or Leave It Program!  When you buy a home through John McLain or anyone on the McLain Realty Team and you are not 100% in love with the home for any reason within 24 months after closing, we will personally buy it back or sell it for free! www.2yearloveitorleaveit.com

 

Source: http://www.simplifyingthemarket.com/en/2017/12/18/4-reasons-to-buy-a-home-this-winter/?a=385400-f014a7e31b0d83731334c99e34b1ace9

 

John  McLain  Broker-Salesperson  McLain Realty Team

mclainhomesellingteam@gmail.com

908.878.9356

Will BIG MONEY make New Jersey More Appealing for Businesses? I’m Looking at You Amazon!

 

With speculation igniting a frenzy over whether Amazon will place their 2nd headquarters in NJ, adding more than 50,000 jobs has more than the real estate market on its toes.  Chris Christie is looking to back Newark New Jersey’s Amazon bid with $7 Billion in tax Breaks.

 

This means that the $7 Billion, that with a “B” will be in the form of potential tax credits to hire Amazon.com Inc’s planned 2nd HQ to Newark, which has ultimately been struggling to stage a broad economic revival.

The proposal would offset state and city taxes, including incentiving through NJ’s Economic Development Authority that could reach $5 Billion over 10 years, the Governor’s office stated in a statement on Monday. But didn’t I say $7 Billion?  Where would the other Cool $2 Bill come from?  Well $1 Billion would come from Property Tax Abatement and the other from a wage tax Waiver for employees.

A reputation for poverty and crime has kept New Jersey’s largest city on the sidelines of this urban revival we are seeing from the millennials. I mean Newark is only 10 miles from west of Manhattan.  We have personally seen condo’s being sold simply because Prudential Financial Inc. has built a new office tower in Newark, and has backed several real estate projects.

Source: Bloomberg

“Seattle-based Amazon last month solicited proposals for the second headquarters, a project expected to cost more than $5 billion and create 50,000 jobs during the next 15 to 17 years. Politicians across the U.S. and Canada have eagerly expressed interest. Newark has competition from big cities such as Boston and Chicago and smaller markets including Tulsa, Oklahoma, and Memphis, Tennessee.”

 

For more information on Newark New Jersey and the Suburb revival, the McLain Realty Team has been selling many properties in Hoboken, Jersey City and Weehawken to name a few.

Don’t forget to ask us about our Exclusive 2 Year Love It or Leave It Program. When you buy a home through John McLain or anyone on the McLain Realty Team and are not 100% in love with the property for ANY reason within 24 months after closing, we will personally buy it back or list it for free!  www.2YearLoveItorLeaveIt.com

 

Find you next home at: www.SearchAllNJhomes.com

John McLain Broker-Associate 9088789356

mclainhomesellingteam@gmail.com

www.NewJerseyKellerWilliams.com <- Quick Video to show why we are growing by leaps and bounds!

LIST: The Hottest Real Estate Markets in New Jersey Have One Common Theme: Access to Transit

Several towns in New Jersey are seeing incredible demand, and combined with low inventories, prices have been skyrocketing in recent months. After the Recession of 2009, there has been a very slow recovery and this has meant many are still waiting for their own property values to recover to pre-recession levels.  This is not true everywhere.

The following 19 towns have all seen their median home values peak at the start of 2017. Shore towns have been excluded, because of the active 2nd home market.  Each one of the town stand way above the average New Jersey property statewide in regards to price growth during the last year.

For an easy understanding of how “HOT” an area is, the larger the circle on the map below, the hotter the area. Luckily, the McLain Realty Team handles each one of these town and understand the importance of being close to transit and especially the train.

NJ Train Towns

Several towns in New Jersey are seeing incredible demand, and combined with low inventories, prices have been skyrocketing in recent months. After the Recession of 2009, there has been a very slow recovery and this has meant many are still waiting for their own property values to recover to pre-recession levels. This is not true everywhere.

The following 19 towns have all seen their median home values peak at the start of 2017. Shore towns have been excluded, because of the active 2nd home market. Each one of the town stand way above the average New Jersey property statewide in regards to price growth during the last year.

For an easy understanding of how “HOT” an area is, the larger the circle on the map below, the hotter the area. Luckily, the McLain Realty Team handles each one of these town and understand the importance of being close to transit and especially the train.
 
 
#19. While Chatham Township gained the least amount of value by percentage of the towns on the list, it is also has the highest median value. Chatham has been a long desired destination for families that want great school and commuting.

#18. Glen Rock has been steadily increasing its population back to the peak it reached in 1970 of 13,000

#17. Carlstadt 
Jersey City and Hoboken that has seen marked gains in valuation during the past year and experts say that these towns are becoming increasingly more and more popular.

#16.  Chatham Borough also remains popular for families seeking homes. It’s median Zillow value is more than twice that of the state’s.

#15 Fair Haven
Fair Haven, located along the North Jersey Coast Line of NJ Transit, buck that trend. Fair Haven not only has easy access to transit, but is a stone’s throw from the Jersey Shore.
 
#14. Tenafly
Towns along the Hudson River, known as the state’s “Gold Coast,” have been reaping the rewards of New York City’s revival over the last two decades. Good schools and a quick commute to the city make Tenafly an attractive, and expensive, location for home buyers.
 
#13. Woodcliff Lake has some of the best schools in the state, which makes it instantly attractive to many homebuyers seeking property near New York City.

#12 Glen Ridge
Quaint downtown, easy access to public transportation and well respected school system.

#11 Palisades Park
50% of the residents claim Korean ancestry and is extremely affordable town!

#10. Montclair
New York City have made it one of the hottest markets of the last decade in the Garden State and is a large reference for all Real Estate Agents.

#9. Haddonfield
Direct path to Philadelphia and one of the most well-respected school systems.

#8. Princeton
Very low inventory and this quiet tree lined streets have sent prices up over 1 million!
 
#7.  Moonachie is one of the more affordable Bergen County towns, but perhaps not for long.

#6.  Millburn is frequently one of the best and most sought after school in the entire state!

#5.  Hoboken  The list obviously would not be complete without Hoboken. Packing in Residents and driving up prices as it is the easiest drive into the city. Expect to find 1 bedroom condos for 1 Million! The McLain Realty Team loves selling property here!

#4.  South Orange
Extremely low inventory in this Orange that it has driven prices up, more than the neighboring Oranges.

#3.  Asbury Park has made a complete 180 from the days of abandoned homes, desolate main street, and a tarnished name. Affordable and making a come-back!

#2.  Maplewood Millburn  grew so fast as-well-as the home prices. People turned to Maplewood as an alternate.

The undisputed king
#1,  Weehawken
As Hoboken became more expensive and cramped, people branched out into Weehawken which has suddenly seen explosive growth. This hilly riverside community offers spectacular views of the New York City Skyline with more space than neighboring Hoboken. If you are driving, take the Lincoln Tunnel to be in NYC in no time!

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