Neighborly Advice

We spend so much time pouring over the Summit NJ listings choosing a home, a floor plan, a schools system and a geographical area that we can sometimes overlook what makes a neighborhood: the neighbors.  People can make a neighborhood feel like home or like a prison.  Here are some ways to keep your neighbors from turning your dream home into a nightmare.

Ask Around

Most neighborhoods have plenty of chatty folks willing to give you the low down if you are willing to ask.  Talk a walk on a warm evening and chat with the people you find outside working in their yards or walking their dogs.  Keep in mind that sometimes what you hear is just gossip, but if you hear the same thing from several different people you should take note.  Your Summit NJ realtor may be able to help you find out more about your potential new neighbors as well.

The Direct Approach

If you are the brave sort, you could think about taking a direct approach.  Knock on the neighbors’ door, tell them you are thinking about buying nearby and ask their advice.  If they swear a blue streak, slam the door in your face or otherwise make a scene, you can guess how they will behave during a conflict.  Don’t try this tactic alone, though.  Have at least one other person with you for safety and stay outside the front door.

Keep Your Perspective

Keep a good perspective on neighborhood issues once you do purchase a home.  Try not to let little things become big things.  Take a minute to see things from someone else’s point of view.  If your neighbor likes to put out a big holiday display, it won’t likely drive down the value of your Summit NJ real estate so maybe you can grin and bear it for a few weeks.  However, if he is allowing his property to become run down, abandoned or dangerous, this can negatively affect your home’s value and might be worth a calm, kindly worded conversation.

Build Bridges

When you move into a new neighborhood, make an effort to meet your neighbors and build some relationships with them.  It’s much easier to talk to a friendly acquaintance about an issue than it is to confront a perfect stranger.  You’ll both feel more comfortable if your first meeting is a positive one, like a block party or a barbecue, rather than a conflict.  If your Summit NJ real estate agent has sold other homes in the neighborhood, she may be able to introduce you to some of her previous clients to get the ball rolling.

If all else fails, remember the words of the poet Robert Frost in Mending Wall: “Good fences make good neighbors.”

Any home sale has a few legal issues to be considered.  Your Summit NJ realtor will, of course, be by your side to guide you through these murky waters, but you should still educate yourself on these matters as well.  One of the first legal considerations you will need to examine is the idea of disclosure.

Disclosure is defined as “the revelation of information that was previous secret.”  In real estate terms, disclosure is the seller making the buyer aware of any problems or defects of which he is currently aware.  It’s a way of keeping both parties safe from future legal problems.  In very simple terms it tells the buyer what he is getting into and keeps the seller from being blamed for anything he didn’t know about or anything that happens in the future.

As a seller, you must complete the form for disclosure; your Summit NJ real estate agent cannot legally do it for you.  It should be accurate and honest.  If the home was built prior to 1978, the seller must give the buyer 10 days to conduct an inspection for lead-based paint, unless the buyer waives this right in writing.

As a buyer, you should always request a disclosure statement.  This will give you a starting point as to the condition of the home.  However, a seller only has to tell you what he knows is wrong with the house.  A disclosure statement may not tell the whole story of a Summit NJ real estate property.  It should never take the place of a thorough home inspection.

Sellers must disclose material facts about the property.  Material facts are any bits of information about the house that might influence the buyer’s willingness to purchase, the price of the property or the terms of the sale.  For instance, some states require the seller to inform the buyer if a person has died on the property within a certain number of years.

More common disclosures are things like the condition of the roof or the plumbing.  Pending zoning changes on a Summit NJ listing may also be included in disclosure.  Once again, this is only if the seller has knowledge of the potential changes.  It is still up to the buyer to do his homework and find out what is going on in or around the neighborhood.

Disclosure can be a tricky subject.  What if you aren’t sure about something?  For instance, say there’s some discoloration on the basement floor.  It might me mold or moisture or it could have been a spilled drink.  Do you add it to a disclosure statement?  What about rumors or stories from the neighbors?  When considering disclosure, think about the Golden Rule.  If it’s something you would want to know, add it to the statement but note that it was unverified.

Disclosure boils down to two basic instructions.  Sellers: tell what you know.  Buyers: don’t be lazy; double-check what sellers tell you.

Picturing a Sale

A strong internet presence is essential for selling Summit NJ real estate.  Buyers in our area are technologically savvy and looking on-line is usually the first step in their search process.  Wordy descriptions aren’t what buyers want.  They want pictures, lots of pictures.  Good, clear photographs are vital to getting your buyers away from their laptops and into your home.

The Summit NJ listings are full of great homes.  Unfortunately, they’re also full of dark, blurry, frustrating photographs.  Make you home stand out from the crowd with beautiful, high quality pictures.  Plenty of professionals would be willing to provide pictures for a price.  Bu all you really need is a good camera and a few tips for good photos.

The Camera

You don’t have to invest in a top of the line digital SLR camera to show off your home.  (However, if you already have one or access to one by all means put it to good use!)  You will want to use a high resolution digital camera for a few reasons.  First, your images are intended for a digital medium – the internet – so they need to be in a digital format.  You can scan a print but the effect is like making a copy of a copy; the image looses clarity.  Second, if your images are digital your Summit NJ real estate agent can get the images from your memory card and put them directly on her site.

The Accessories

The pros use fancy lighting, lenses and post-production software to create a perfect image.  The rest of us just need a tri-pod.  A tri-pod will give you a stable base to prevent “camera shake” and produce a blur-free photo.  For good lighting, choose a bright but overcast day and open all the window treatments.  Try not to use table lamps or overhead lighting as the primary light source.  They create high-contrast bright spots and shadows.

The Pictures

This is one case where more is always better.  With digital cameras, you can take as many photos as you want without worrying about the cost of developing the pictures.  Take many different pictures of each room from every angle.  Show off the home’s the best features, like detailed moldings, with close up shots.  Get shots of a great view or excellent landscaping too.  Pay attention to what is in the shot.  Put the toilet seat down, pick up the clothes and make sure the house is clean.

Think of your photos as a virtual open house.  Make sure your home is in perfect shape for a showing before you pull out the camera.  Your Summit NJ realtor will help you choose the shots to best show your home and give it an on-line advantage.

The last post talked about one legal matter – the disclosure statement – in a Summit NJ real estate transaction.  Now we’ll tackle another one: the purchase agreement.  It may go by many different names like “sales agreement”, “contract to purchase” or “sales contract” according to the local custom or laws.

No matter the name, the intent and effect of the document is the same.  It is a legally binding agreement where the seller agrees to sell a property from the Summit NJ listings and the buyer agrees to buy under the terms upon which both parties have agreed.  It is usually the end result of a negotiation between the two parties.

Here’s how it works, in very simple terms.  A homeowner decides to sell his property and lists it with a local realtor.  The realtor shows the property to numerous potential buyers.  One or more buyers decide they want to purchase the property and they enter into a negotiation for its sale.

The negotiation typically begins with an offer.  This is where the buyer extends an offer to buy the property, usually through his Summit NJ realtor.  He includes all of his own terms for the purchase.  For instance, he might offer the full asking price or any amount above or below it.  He might offer to buy the home but only if it is painted first.  He might note a problem with the roof and ask for that to be fixed prior to the sale or ask for a concession (reduction of the price) to cover the repairs.

A seller will usually respond with a counter offer if the original offer is reasonable.  He may try to negotiate a smaller concession for the roof or agree to paint the house.  He may also counter with the full asking price, with no concessions, if he feels confident that the home will sell.  Agents for each party will carry offers and counter offers back and forth until an agreement is finally hammered out.

This final agreement is legally binding for both parties once signed.  Both the buyer and the seller should be very careful in reading it over and having his Summit NJ real estate agent double-check the documents to be absolutely sure all his agreed-upon terms are listed in writing in the purchase agreement.

Once all terms have been met, the title can be transferred from one party to the other.  Neither party can ignore any part of the final purchase agreement.  So in our example, if the seller agreed to paint, the house must be painted or the buyer can walk away from the deal.  If the buyer agrees to a $5000 concession to cover rook repairs, he cannot ask for more from the seller when his contractor says it will cost $8000 to fix.

Your purchase agreement is the final word on your real estate transaction.  Be sure you understand what it requires of you.  Double-check it to be sure the terms you want are listed in writing.  Assume nothing and leave nothing to chance.

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Staging – it’s becoming a household word.  There are TV shows entirely devoted to it; entire companies are dedicated to the idea.  If you check the Summit NJ listings for a home that recently sold quickly and for a good price, it’s a good bet that some time was spent staging it properly.  Staging is simply the act of preparing a home for sale by adjusting the décor to appeal to as many different types of people as possible.  You can hire a stager or take it on as a do-it-yourself project.  If you choose the DIY route, there are a few techniques that you just can’t afford to ignore.

Clean it up, clear it out.

The first step in staging should be packing.  You’ll be moving soon anyway, with the help of your Summit NJ realtor, so get a jump on your move by packing up the clutter.  Out of season clothing, outgrown toys and outdated furnishings should all go to a storage unit.  Organize anything that remains so it looks neat.  After clearing out the clutter, a very thorough cleaning is in order.  Be detail conscious; your open house guests certainly will be.  Pay attention to the little things like that dirty ring around the doorknob that make your home look old or grubby.

Show off the space, not your stuff.

Buyers want to see the home you have up for sale and they need to be able to see themselves in it.  That’s hard to do if the rooms are crammed with furniture or the wall are painted in a garish color.  Show them how they can use the space, not how you’ve used it.  The dining room may have been the perfect space for your home office but the majority of people looking at Summit NJ real estate would rather have the dining room.  You may have to do a little rearranging to get the best effect.  It may be a little inconvenient to go without that extra dresser or take the leaf out of the dining room table but it will be worth it when the house sells.  Make sure you are featuring the space in the room, not the stuff in the room.

It’s not all about you.

Family photos and personal collections are great and tell a lot about the owner.  They are also distracting and may prevent buyers from looking at the actual house.  Your eclectic decorating choices should be changed to a more neutral palette.  Remember — you aren’t redecorating, you’re staging.  The point is to appeal to buyers with soothing colors and furnishings.

Take staging seriously and it will help sell your home.  If you need help, just ask your Summit NJ real estate agent to give you some pointers.

Location, location, location – the old saying says that these are the three most important factors in real estate. Where your new home is located determines a lot about your new life there, from the taxes you will pay to the schools your children may attend. Whether you’re searching in your hometown or house hunting after a transfer, you’ll want to enlist a good Summit NJ real estate agent to help you choose your next neighborhood. Consider these basic choices when you are searching for your new home.

In Town

City centers are exciting places to live. Generally, there are plenty of restaurants and the nightlife in town is great. History buffs are drawn to downtowns because they usually house the oldest neighborhoods. Cultural and sporting events oftentimes occur downtown. Many attractions are within walking distance or serviced by public transportation. The architecture has changed over time and is varied and interesting. Outdoor spaces, however, are sold at a premium price if they can be found at all. Noise can be a problem in some downtowns, especially if your budget won’t buy a penthouse. Sometimes, “historic” can translate to “problematic” when repairs need to be made.

The ‘Burbs

What the suburbs lack in nightlife they make up in green spaces. Summit NJ listings feature lawns and gardens spread out to cover suburban areas in a green carpet. Suburban homes are typically much newer than what can be found downtown, which can mean these homes need less renovation and are more energy efficient. The architecture is more homogenous and lack this historic charm found downtown. All those yards need to be mowed and watered and weeded regularly. A trip to the grocery store might be easy, but a trip to your office is going to require a commute. Going to a museum or ball game will also require some car travel.

Farther Afield

Many dedicated urbanites don’t realize that there are homes beyond the suburban sprawl. Rural areas may be a little isolated or rustic, but the beauty of the land is not to be denied. The privacy of owning acreage is a joy that increasingly few buyers of Summit NJ real estate are choosing to enjoy. Anyone who loves living out of doors would wisely choose the country for their next neighborhood. However, if solitude sounds like torture to you and you’ve never operated a lawn mower, then perhaps this isn’t the place for you.

Your Summit NJ realtor should be well-versed in the neighborhoods of her town. Talk to her about how you want to live and she will help you figure out where.

The trials and tribulations affecting government organizations like Fannie Mae and Freddie Mac have been well documented in recent months. The two organizations that guarantee all home loans have had to swallow a number of mortgages that ended up not working out, but that is just the tip of the iceberg. Even responsible home owners, and future home owners are being affected. Now more than ever, you need a Summit NJ real estate professional by your side during both the home buying and home selling process.

According to new provisions set forth by Fannie Mae and Freddie Mac, people looking to buy condominiums are ineligible for government assistance if the building they are looking to move into is less than 70 percent presold. Thankfully, these new rules don’t affect people looking to buy a home. This is yet another reason why buying a home instead of a condo is such a good idea. A Summit NJ real estate agent can help you find the perfect home, and with real estate prices falling, there has never been a better time to own than right now.

A Summit NJ real estate agent can help demystify the home buying experience. There is no denying that the process is a bit confusing and can be stressful, especially for first time buyers. You have so much to gain from purchasing a new home during these economic times. Current real estate prices in the Summit NJ area have been dropping for well over a year and are at historically low prices. You can own much more home for far less today than you could five years ago, so take advantage of these prices today because they won’t be this low much longer. Industry experts are already seeing signs that the market is recovering, so don’t get caught saying what if a few years from now when the home of your dreams is out of reach.

Come in and talk to a Summit NJ real estate agent today and they can answer all of your questions. Many folks simply want to know how the first time home buying process works and how long it takes. All of your questions can be answered quickly and effectively, so take a few moments out of your week and speak to a professional that could help open the door on a new home for you and your family.

The New Jersey state legislator has been working hard to help home sellers and buyers get a better deal on their transactions. According to the new legislation, those folks who use a real estate broker could receive a rebate from their broker for a portion of the cost. This bill is being moved through to help stimulate home sales that have been somewhat flat over the past few months. It is unclear what the long term impact of this legislation will be, but it could mean that the prime time to purchase a home in this area may be coming to and end.

Right now, home prices are at their lowest in years, which means this is the most powerful buyers market in this region’s history. You can purchase so much more today than you could just five years ago with the same money, it is no surprise that people have been flocking to Northern New Jersey from all over the country to buy property. This bill will likely spark a flurry of activity that will help to level out the market so that it is just as beneficial to buyers as it is to sellers. This means that if you have been waiting for the right time to contact your Summit NJ realtor, now is the time.

Why is purchasing a home with a Summit NJ realtor such a good idea? They provide insight into the local market and into the home buying process that you can’t get anywhere else. They also provide protection for you during your home buying transaction. They know what the common pitfalls are and how to avoid them. You can buy a home yourself, but many people report that the stress and the outcome just wasn’t what they really wanted. Don’t make the same mistake; contact your local realtor today to find out the best prices on a home in your area.

Still not convinced now is the right time to buy your first home? Several recent news stories have pointed to the fact that the Obama administration’s stimulus package is already beginning to show strong results, which means that the real estate market is about to pick up over the next year to two years. Now is truly the “bottom” of the economic downturn. Don’t hesitate, get on the bandwagon now and contact your Summit NJ realtor today.

Sure, the market may look bad right now, but if you’re considering buying Summit NJ real estate, you couldn’t choose a better time to do it.

Unlike many other states in the country, New Jersey has the most likely chance of bouncing back according to the recent Emerging Trends in Real Estate conference in New Brunswick.

Economists have suggested that late 2009 and early 2010 will see the recovery of the economy, and given that New Jersey has so much going for it, it’s going to be the height of prosperity as others struggle to recover.

The State’s Assets

• New Jersey has one of the best infrastructure systems in the country.
• New Jersey features an exceptional port that will help businesses around the country recover from the economic crisis.
• New Jersey school systems, on average, offer better a better primary and secondary education than other public school systems in the country.
• New Jersey is literally next door to the best consumer market and thus a better workforce.
  When you combine assets like that with the statistics that prove New Jersey didn’t lose as many jobs as many other places in the country and that it’s inexpensive to do business in the state, yet close to New York, you have a winning combination.

Summit NJ real estate is truly a buyer’s market right now, but that may not be the case once the state recovers. If you’re thinking about buying a piece of Summit NJ real estate, there’s no better time than now.