What I Need to Sell my Home During the Coronavirus

What I Need to Sell My Home During the Coronavirus

What I Need to Sell my Home During the Coronavirus
What I Need to Sell my Home During the Coronavirus

Firstly, every day that passes, people have a need to buy and sell homes.  Especially if they are wondering what if I need to sell my home during the pandemic. It has not stopped during the current pandemic. If you’ve had a major life change recently, you may be in a position where you need to sell your home.  And Fast! While you probably feel like timing with the current pandemic isn’t on your side, that is false. Making a move is still very possible. Rest assured, with our technology at your side and fewer sellers on the market, you can list your house and make it.  Most Importantly make it happen safely and effectively.  Especially when following the current COVID-19 guidelines. Furthermore these were set forth by the National Association of Realtors (NAR) and the Centers for Disease Control and Prevention (CDC).

You may have a new baby, a new employment situation, or you just built a home that’s finally ready to move into.  Maybe even some other major part of your life that has changed in recent weeks. Buyers have those needs too! You can rest assured that someone is likely looking for a home just like yours.

According to the NAR Flash Survey: Economic Pulse taken April 5 – 6, real estate agents indicate, not surprisingly, that there’s a noticeable decline in current homebuyer interest. That said, 10% of agents stating in the same survey that they saw no change or even an increase in buyer activity. So, while buyer interest is low compared to normal spring markets, there are still buyers in the market. Don’t forget, you only need one buyer – the right one for your home.

Here’s the other thing – people are spending a lot of time on the Internet right now. Buyers are actively looking at homes for sale online. Some of them are reaching out to real estate professionals for virtual tours and getting ready to make offers. Homes are being sold in many markets.

There Is Less Competition Right Now , so What I Need to Sell my Home During the Coronavirus

Furthermore, 56% of home sellers are removing their homes from the market. This can definitely work in your favor. Although other sellers are removing their listings, your home has a better chance of being notived.  Keep in mind, listings will pick up again soon. This is because 57% sellers are only planning to delay the process. If you need to sell right now, don’t wait for the competition to get back in!

Delayed listings from the typically busy spring season will push into the summer months, so more competition will be coming to the market as the pandemic passes. Getting ahead of that wave now might be your biggest opportunity.

The McLain Realty Team can Help Selling your home during the Pandemic

Furthermore, our Real estate team is working hard every single day. Under traditional circumstances, utilizing technology to help both buyers and sellers who need to continue with their plans.

  1. We’re using virtual tours to show homes currently on the market
  2. We are holding Online Virtual Open Houses
  3. We constantly stay connected with the buyers and sellers through video chats, leveraging resources to complete transactions electronically.
  4. Most Importantly, we’re making sure the families we support remain safe especially as life is changing so rapidly.

Bottom Line

Finally, homes are still being bought and sold in the midst of this pandemic. If you need to sell your house and would like to know the current status in our local market, let’s work together to create a safe and effective plan that works for you and your family.

 

New Construction Homes in NJ

New Construction Homes in NJ

New Homes Coming to the Housing Market This Year

New Construction Homes New Jersey

Firstly, the number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Construction Report, the number of building permits issued in January was 1,551,000. This is a 9.2% increase from December.

How will this impact buyers?

New inventory means more options. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR),explained how this is good news for the housing market – especially for those looking to buy:

“More construction will mean more housing inventory for consumers in the later months of this year…Spring months could still be quite tough for buyers since it takes time to convert housing starts into actual housing completions.”

How will this impact sellers with New Construction Homes in NJ.

More inventory means more competition. Yun continues to say:

“As trade-up buyers move into these newly completed homes in the near future, their existing homes will be released onto the market.”

Today, because of the tremendous lack of inventory, a seller can potentially anticipate:

  1. great sale price on their house as buyers engage in potential bidding wars.
  2. quick sale as buyers have little inventory to choose from.
  3. Fewer hassles as buyers want to smoothly secure a contract.

Especially for New Construction Homes in NJ.

Bottom Line

If you’re considering selling your house, you’ll want to list sooner rather than later. This way, you’ll get ahead of this new competition coming to market and ensure the most attention toward your listing and the best price for your house.

How to Sell Your Home Faster

How to Sell Your Home Faster

How to Sell Your Home Faster
Sell your home faster, with the McLain Realty Team

 

When selling your house, there are a few key things you can prioritize to have the greatest impact for a faster sale:

1. Make Buyers Feel at Home

Declutter your home! Pack away all personal items like pictures, awards, and sentimental belongings. Make buyers feel like they belong in the house. According to the 2019 Profile of Home Staging by the National Association of Realtors“83% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”

Not only will your house spend less time on the market, but the same report mentioned that, “One-quarter of buyers’ agents said that staging a home increased the dollar value offered between 1 – 5%, compared to other similar homes on the market that were not staged.”

2. Keep It Organized

Since you took the time to declutter, keep it organized. Before buyers arrive, pick up toys, make the bed, and put away clean dishes. According to the same report, the kitchen is one of the most important rooms to stage in order to attract more buyers. Put out a scented candle or some cookies fresh from the oven. Buyers will remember the smell of your home.

3. Price It Right

More inventory coming into the market guarantees there will be some competition. You want to make sure your home is noticed. A key to selling your house is ensuring it is Priced to Sell Immediately (PTSI)This means you’ll be driving more traffic to your property, and ultimately creating more interest in your home.

4. Give Buyers Full Access

One of the top four elements when selling your home is access. If your home is available anytime, that opens up more opportunity to find a buyer right away. Some buyers, especially those relocating, don’t have much time available. If they cannot get into the house, they will move on to the next one.

Bottom Line

If you want to sell your home in the least amount of time at the best price with as little hassle as possible, a local real estate professional is a useful guide. Let’s connect today to determine what you need to do to sell your home as quickly as possible.

Sell your home This Winter

Sell Your Home This Winter

The #1 Reason to List Your House in the Winter | MyKCM

Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.

So, why sell your home this Winter? Less competition.

Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.The #1 Reason to List Your House in the Winter | MyKCMAs you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January).

Temperatures aren’t the only thing that heats up in the spring – so do listings!The #1 Reason to List Your House in the Winter | MyKCMIn 2018, listings increased from December to May. Don’t wait for these listings and the competition that comes with them to come to the market before you decide to list your house.

Added Bonus: Serious Buyers Are Out in the Winter 

At this time of year, purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.

Bottom Line

Finally, If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s get together to determine the best time to list your house.

Ask for more Information in regards to Listing your Home for Sale This Winter with #REMAX365 #McLainRealtyTeam

 

RE/MAX 365  John McLain McLain Realty Team REMAX365NJ@Gmail.com  NJGUARANTEEDSALE.COM

93% Believe Homeownership Is Important in Attaining the American Dream

The American Dream is in Reach!

Americans continue to believe that homeownership is important in achieving the American Dream. A recent survey by NeighborWorks America reported that:

“Owning a home remains a core element of the American Dream.”

When asked “How important a part of the American dream is owning a home?”

  • 18% of those surveyed said it was the most important part
  • 53% of those surveyed said it was very important
  • 22% of those surveyed said it was somewhat important

Homeownership and Financial Stability

The survey also revealed that 81% of Americans believe that owning a home leads to a family being more financially stable. This feeling was reiterated by Zillow Senior Economist Aaron Terrazas who, in a recent press release, explained:

“After about a two-year slowdown, rent growth is starting to pick back up across the nation…Looking into 2018, rent is expected to continue gaining.

More widespread rent growth could mean home buying demands stay high, as renters who can afford it move away from the unpredictability of rising rents toward the relative stability of a monthly mortgage payment instead.” (emphasis added)

Bottom Line

Owning a home always has been, and always will be, a crucial part of attaining the American Dream.

 

Blog by: John McLain

Our Award Winning Marketing Systems and Innovative Consumer Programs Guarantee the Results you Expect and Deserve!

You Home Sold in 66 Days, Guaranteed, or I will Personally But It Myself!  www.GuaranteedSaleNewJersey.com  This is EXCLUSIVE to the McLain Realty Team and give you complete peace of mind,  We eliminate the biggest Catch-22 in Real Estate!

When you buy a home through myself, or anyone on my team and are not 100% in love with it for ANY reason within 24 months after closing, I will personally buy it back or sell it for free!  It is the Exclusive 2 Year Love It or Leave It Program! www.2YearLoveItorLeaveIt.com

McLain Realty Team – Broker  908-878-9356  mclainhomesellingteam@gmail.com  www.SearchAllNJhomes.com

The Impact of Tight Inventory on the Housing Market

top realtors in nj

The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

 

National Association of Realtors

“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30 consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down from 4.0 months a year ago.”

Joseph Kirchner, Senior Economist for Realtor.com

“The increases in single-family permits and starts show that builders are planning and starting new construction projects, that’s a good thing because it will help to relieve the shortage of homes on the market.”

Sam Khater, Deputy Chief Economist at CoreLogic

Inventory is tighter than it appears. It’s much lower for entry-level buyers.”

Bottom Line 

If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.

712,000 Homes in the US Regained Equity in the Past 12 Months!

 

Use the equity in your home

 

CoreLogic’s latest Equity Report revealed that “over the past 12 months, 712,000 borrowers moved into positive equity.” This is great news, as the share of homeowners with negative equity (those who owe more than their home is worth), has dropped more than 20% since the peak in Q4 of 2009 (26%) to 4.9% today.

The report also revealed:

  • The average homeowner gained approximately $14,900 in equity during the past year.
  • Compared to Q3 2016, negative equity decreased 22% from 3.2 million homes, or 6.3% of all mortgaged properties.
  • U.S. homeowners with mortgages (roughly 63% of all homeowners) have seen their equity increase by a total of $870.6 billion since Q3 2016, an increase of 11.8%, year-over-year.

The map below shows the percentage of homes by state with a mortgage and positive equity. (The states in gray have insufficient data to report.)

Significant Equity Is on The Rise

Frank Nothaft, Chief Economist at CoreLogic, believes this is great news for the “housing market.” He went on to say:

“Homeowner equity increased by almost $871 billion over the last 12 months, the largest increase in more than three years. This increase is primarily a reflection of rising home prices, which drives up home values, leading to an increase in home equity positions and supporting consumer spending.”

Of the 95.1% of homeowners with positive equity in the U.S., 82.9% have significant equity (defined as more than 20%). This means that more than three out of four homeowners with a mortgage could use the equity in their current home to purchase a new home now.

The map below shows the percentage of homes by state with a mortgage and significant equity.

Bottom Line

If you are one of the many homeowners who are unsure of how much equity you have in your home and are curious about your ability to move, let’s meet up to evaluate your situation.

4 Reasons to Sell Your Home This Winter

winter is a great time to sell your home

Some Highlights:

  • Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available!
  • Housing inventory is still under the 6-month supply needed to sustain a normal housing market.
  • Perhaps the time has come for you and your family to move on and start living the life you desire.

Top 4 Reasons We Buy A Home

The Top Reasons We Buy a Home

We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons.

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers stability to start and raise a family

From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their minds as a major reason for choosing the location of the home that they purchase.

2. There’s no place like home

Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day!

3. You have more space for you and your family

Whether your family is expanding, an older family member is moving in, or you need to have a large backyard for your pets, you can take this all into consideration when buying your dream home!

4. You have control over renovations, updates, and style

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit for your apartment building? Or maybe you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?

Bottom Line

Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.

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!