Buyers of Bradley Beach NJ Real Estate: Lock in Low Interest Rates NOW!

As I reported recently, Fannie Mae is now requiring only a 3% down payment on all loans processed through its Desktop Underwriter® program.  This is great news for buyers who can take advantage of this program.

 

If you are in the market for a conventional mortgage, however, the news may not be so promising.  As this article from the Real Estate Journal explains, mortgage interest rates are climbing again at an alarming rate, and it is in Bradley Beach NJ real estate buyers’ best interests to lock in a low rate now.  Due to fears of inflation, the average interest rate on a typical 30-year fixed loan has spiked to 6.02% from 5.82% in just a week. 

To see how this spike would increase your mortgage payments, consider this:  as a rule of thumb, for each $100,000 you borrow, an additional tenth of a percentage point on your mortgage rate will add about $2,300 to the total amount of interest you will pay over the life of the loan.  For example, on a $300,000 mortgage, the current increase will add $38 to your monthly payments. It will cost an extra $4,000 in interest over the total life of the loan.

To learn more about Bradley Beach NJ real estate, or for a referral to a reputable lender who can explain your options when it comes to interest rates, please call me at 732-775-2774 or visit PatrickParkerHomes.com. 

The Case For Staging Your Bradley Beach NJ Real Estate

“Staging”  Bradley Beach NJ real estate for sale has become a hot trend in the industry.  Unlike some trends that are more trouble than they’re worth, however, this is one trend that can really pay off!  Here are 12 reasons why you should consider staging your home on the market:

1. Turbo Boost Sales Time
Experts all agree and studies show staged homes sell quicker – sometimes up to 50% faster – than non-staged homes.  Not only are you having to pay for your mortgage while your home stays on the market, but the longer the home is on the market, the greater chance there is for a price reduction.  Typically, when a home has been on the market for some time, buyers and agents will assume there must be something wrong with it or that the seller will be anxious to sell and will take much less than the asking price.

2. First Impressions Are The Most Important
People’s first impression of your home is critical.  Staging gives you the best opportunity to make a positive first impression rather than a negative one.  The stronger the impression, the less likely a potential buyer will be bothered if some things aren’t perfect.

3. Gone In 60 Seconds…
Psychology experts have proven that people react based on emotion and then seek logic to back up the feeling.  From a real estate perspective, a buyer will make an initial reaction in less than a minute whether they like your home or not.  Then, after the potential buyer’s initial decision has been made, they will either confirm that decision or rescind it in the next 6 to 20 minutes as they tour the property.  This is why proper staging is critical for any listing.    

4. Ready, Set, Go – Move-In Ready Sells Faster
A properly staged listing not only appears to be in “Move-In Ready” condition, but it really is.  Staging a house for sale means that every component of the house is as close as possible to model condition.  All buyers prefer to buy a home where they can just move-in and start enjoying life.  Most will even pay a premium for this.

5. Imagination Not Included
Did you know that only 5% of the population can truly visualize how beautiful a home can be or see past the clutter, grime and so-so appearance?  It’s true.  Help potential buyers see themselves happily living in your listing and let the offers come pouring in. 

6. Be the Needle In The Haystack
Staged homes have a much greater competitive advantage over houses that are not staged.  Experts are predicting that more and more listings will be sitting on the market for sale in the next few years.  Some areas have already seen a 100-300% increase in available inventory and average time on market.  A staged home stands apart from other listings because it has been properly merchandised to bring out the best qualities of the listing.

Baby Boomers Setting the Latest Bradley Beach NJ Real Estate Trends

We know that the Baby Boomers account for a large part of the real estate owning population in America.  It should come as no surprise, then, that these folks – not the typical “trendy” crowd – may be the latest trend-setters in Bradley Beach NJ real estate also.

 

Sounds unlikely, but it is very true!  As this article in the Wall Street Journal explains, designers and architects are catering more and more toward this fast-growing segment of the population.  Research shows that the majority of Baby Boomers are planning to stay in their homes through retirement, as opposed to moving to “assisted living” or a retirement community.

This influx of aging buyers has triggered home renovations and new construction including halls and doorways wide enough for walkers and wheelchairs, and master suites and laundries on the ground floor so residents can avoid stairs. Now, the technology behind home appliances and fixtures is catching up – making all kinds of appliances and home design elements more senior-friendly. 

 

Some of the innovations in home design and appliance re-design include:

• Stoves that monitor pots to prevent boiling over
• Adjustable typeface on appliance control panels
• Faucets that turn on and off with just a touch anywhere on the spout
• Dishwashers designed to be mounted at a more comfortable height
• Refrigerators with doors and storage designed to reduce bending over
• Adjustable volume/pitch of oven alarms

 

Last but not least – yes, there is even a toilet on the market with an electric-blue nightlight built in and a motorized heated seat cover that rises with the touch of a button.  I don’t think you’d have to be a senior citizen to enjoy that kind of amenity during a late-night bathroom visit!

 

The impact these trends will have on the real estate market as a whole is uncertain, but with more Baby Boomers purchasing Bradley Beach NJ real estate, light-up toilets may be a standard amenity before you know it! 

 

To learn more about trends in Bradley Beach NJ real estate, please call me at 732-775-2774 or visit PatrickParkerHomes.com.  You may also begin searching homes here!

Bradley Beach NJ Vacation Home Trends

I found this article that I thought would be of interest to any Jersey Shore NJ vacation home owners.  If you are looking to build and retain loyalty among your renters, check out these tips: 

 

• Forget neutral!  Bring on the “vacation-y” décor, but try not to go overboard!
• Furnish with easy-to-use furniture that is easy to clean and can withstand wear and tear
• Stock up on plenty of family-oriented indoor activities like board games and playing cards
• Include some homey touches like a binder of local restaurant menus or personal tips on local attractions 

To learn more about Bradley Beach NJ real estate or owning your own Jersey Shore vacation home, please call me at 732-775-2774 or visit PatrickParkerHomes.com.  You may also begin searching for Bradley Beach NJ property on the MLS!

 

Make your home more Green

	Good article from Homescape. Are Your Clients Looking for a Green Home? By: Frank Schulte-Ladbeck     Green is the new black. It is the color of the moment, mainly because it signifies an ideal that is currently popular among consumers. The latest consumer trend is home buyers looking for homes to be energy efficient or to be environmentally friendly, but what does that mean? There are competing standards defining what a green home should be. The basic principles driving how green is defined is that the products used in the home have to come from sustainable resources (such as bamboo, which grows rapidly). These items can be recycled, they will not be toxic to the environment, and they help reduce energy use. The argument now is how to determine if a product fits into these categories. Most green products are so new that most people are unfamiliar with them. However, if you wish to point out some features to your clients as being part of a green home, we should create a list. Water Efficiency: Collecting rain water to be used for the garden is a good practice (be sure to check your state and local laws before attempting this). The term graywater refers to water from the home that can be used for watering plants, like water from washing dishes. Also, a recirculating hot water system will prevent people from letting the water run until it’s warm. A tankless water heater is defined as green because it only uses energy to heat water when it is needed. Low flow heads on faucets and showers are green innovations, along with low flow commodes.   “The basic principles driving how green is defined is that the products used in the home have to come from sustainable resources…” Smart Energy: Equipment and products which reduce electricity usage in the home come in as green. CFL (compact fluorescent lights) and EnergyStar appliances are the main stays of the category. There is a push to have equipment like flat screen TVs to stop using electricity when not in use. The other side of the coin is to have solar panels or other means to produce electricity for the home. Green Architecture: More people are discussing passive design elements to create a green home. Situating a home to prevent the heat from the sun creating a need for air conditioning, or simply decreasing the number of windows on the south and west side of the house. Insulating, double paned windows, and ceiling fans in each room help define a green home. Finally, remember to consider if the parts of the home fit your view behind the basic green principles, so you can say to your home buyers that a home meets this standard. Frank Schulte-Ladbeck is a licensed home inspector in the State of Texas. He is also an active industry blogger, a project consultant, and works on translating housing information into Spanish to assist the Latino community.