The media has been making a big deal about the recent NAR settlement however legally there is absolutely no change to commission structures. Because of the Sherman Anti-Trust Act, Relators could never price fix, meaning that commissions have always been negotiable. I believe that savvy sellers who understand the process will continue to offer payment to buyer agents because doing so is more advantageous for them in the long run.

Experts had predicted that by this point of the year the interest rates would be in the low 6%’s headed toward the high 5% but unfortunately that is far from the case. The high rates are keeping sellers who also have to buy from listing which is leading to more of the market gridlock we saw in all of 2023.

Radon gas is a colorless, odorless, and naturally occurring radioactive gas that seeps into homes from the ground. It's the second leading cause of lung cancer in the United States, claiming the lives of an estimated 21,000 Americans each year. The scary part? You can't detect radon with your senses. That's why radon testing is a vital part of any home inspection, especially in areas with high radon potential like New Jersey.

According to Core Logic, New Jersey saw an 11.3% increase in sale price in 2023. In the last 90 days, Bergen County had -26% closed sales, -33% homes going under contract, and -25% active listings.

The big surprise is that while we still have record-low inventory, over the last three months the average days on the market (DOM) increased by 7%.

As of March 20, 2024 landlords will be required to disclosure if the property is in a flood zone prior to any lease or renewal signing. The disclosure must be signed by both the tenant and the land lord.

While my expertise is in selling homes, not designing them, my clients often seek my advice when they are thinking about remodeling. My advice to clients varies based on whether they are living in the home and plan to stay for a while or if they are an investor or hope to sell soon. Here are some adored home features that also have a high return on investment.

The new year and lower rates made homes more affordable and as expected more homebuyers resumed their search, the only problem, sellers aren't listing their homes. Further exacerbating the inventory shortage. This year my advice for buyers is the complete opposite of what I normally recommend this time of year.

Here’s a look at 2023 compared to 2022 based on all residential properties listed in the NJMLS (RES, CCT, 2-4 Family). The market remained tight with fewer listings (-24%) and closed sales (-24%), however, the median sale price increased to $579,000 (+7%). The charts below show activity by month, with the blue trend line representing 2023 activity.

The Bergen County housing market showed signs of cooling in November 2023, as median sales prices dipped slightly. Inventory is sitting longer due to higher interest rates and there was significantly less new invetory. However, the market remains strong, with homes still selling quickly and for above asking price.

The conforming loan limit is the maximum amount that can be guaranteed by Fannie Mae and Freddie Mac. That guarantee has advantages in terms of the loan approval process and interest rates.

What Is Prime Premiere?

Prior to releasing Prime Originals to their streaming service, Amazon is teaming up with local theaters for a physical premier a day or two in advance. While you have to register for tickets, they are free and include admittance as well as a complementary soda/water and small popcorn. You can reserve two tickets per account.

A fun and inexpensive holiday tradition is driving around and looking at Christmas lights. Check out this list of homes in Bergen County with incredible light displays. This list was composed by Sandy who is kind enough to create these lists for counties throughout the state.

The holiday season is a time for joy, celebration, and, often, increased spending. If you are preparing to purchase a home it is important to balance the cost of festivities with financial responsibility and avoid compromising your credit score. Here's a guide to building credit during the holiday season, ensuring you enjoy the festivities without jeopardizing your financial well-being.

The holidays are a time for celebration and joy, but it's important to remember that they can also be a time of increased fire risk. According to the National Fire Protection Association, there are an average of 260 home fires per day in the United States, and an average of 12 deaths and 1,100 injuries from these fires.

Here are some tips to help you keep your home and family safe during the holidays.

Before we start while you aren’t going to run out and buy a house today, the end of November and December are statistically when homes sell at their lowest prices. So if you are really looking for a home don’t let the holiday festivities derail your search.

Now my top 5 tips for saving this holiday season…

I have found that first time home owners either forget or were never told that they have to prepare their homes for winter. My home inspectors typically tell them to tackle fall and spring maintenance (getting ready for winter or summer) when they change their clocks.

Here are five tasks to do around Daylight Savings that will help prevent damage and mitigate repairs. For each task I explained why it's important to do.

Take advantage of market shifts!

If you are timing your real estate transaction(s) to make/save the most money and not around life events, then you need to be aware of market shifts. Of course, none of us have a crystal ball but we can use past trends and current stats to make educated predictions.

Currently in order to qualify for a conventional loan on a owner occupied multi-family property, a buyer must put down a minimum of 15% of the purchase price. Starting on November 18th, the minimum down payment for conventional owner-occupied multi-families will be reduced to 5%. This will have a significant impact on the market.

Buyers Now Is Your Time, Sellers Get Ready! Yes, interest rates are high. As a result many buyers have given up on their home search. Buyers that is great news, it means there is currently significantly less competition.  Coupled with the fact that the fall months are historically the best time to get a deal on a home, now is the time to buy!