Why NYC Home Buyers Are Moving To Nutley NJ

There are a couple of reasons why NYC home buyers are looking to buy homes in Nutley NJ, here are a couple that I think will push home prices 10-15% higher for the next 45 to 60 days.

1) The Lowest Interest Rates Ever In History

2) The Covid 19 Market, People Are Leaving The More Congested Areas of NYC & Northern Jersey

3) Low Inventory Before The Pandemic Persists

This is the new Covid 19 Market in Northern New Jersey, At the beginning of this Pandemic we had a shortage of homes on the market in town, now with people that are leaving the more congested areas of NYC & Jersey City and so on for areas where they will have a little space in case a lockdown happens again, especially families that have children, they want a back yard but they still want to be able to commute to NYC for work, this is exactly what is driving the current market at the present time.

If you are one of those home buyers there definetly is a strategy to winning a bidding war and getting that home for your family, for more information call/test me at 862-228-0554.

Changes in the Nutley Mortgage Market Since COVID-19

It's been difficult to adjust to a new normal during the past few weeks. With most residents being asked to stay at home, there are many who have recently lost their jobs or been asked to work remotely. The mortgage industry has also taken a big hit that has directly affected homeowners, renters, and investors alike.

There are many who are in the final stages of closing on their homes, and the current pandemic has made it difficult to efficiently move forward with the process. To help, desktop and exterior-only appraisals are being accepted as long as there is sufficient property information available online. Potential borrowers can also now submit their verification of employment via email, paystub, or bank statement to help streamline the process.

Significant changes have been made during the recent outbreak of COVID-19 to help homeowners get through this trying time. Those who have lost their jobs may be eligible for reduced or suspended mortgage payments for up to 12 months while they regain their footing and find new employment. All foreclosure sales and evictions have also been suspended for 60 days to give borrowers a chance to catch up on their payments. Homeowners who are behind on their mortgage will also receive help to create a plan to maintain or reduce their monthly payments moving forward.

Renters who are currently unable to make their monthly rent payments are advised to reach out directly to their landlords. Owners of these properties will be given mortgage forbearance by Fannie Mae and Freddie Mac if they suspend all evictions for renters that have been directly affected by COVID-19. This plan is directly designed to prevent tenants from being evicted because they are unable to pay their rent due to a recent loss of their job.

One benefit of the recent changes in the mortgage market is that interest rates have been near an all-time low, and it may be an excellent time to buy your first home or refinance your current mortgage. If you've had your eye on the market for a while now and want to take advantage of the current interest rates, it's the perfect time to call your loan officer and start the process of locking in your rate before interest rates start to increase again.

It can be hard to keep track of all the changes. Lenders are working around the clock to answer all your questions and will support you in any way that they can. Give them a call if you need help or have any specific questions regarding your loan.

If you are selling your home, no doubt you’re getting lots of advice about how to stage your home to appeal to potential buyers. Maybe you’ve spent time online reading about curb appeal, maybe your friends have given you advice about how to make your home brighter, or maybe the advice has even come from your listing agent; regardless of the source, here are a few outdated staging tricks you should NOT be using.

• Baking – While it’s a nice idea to have treats available, buyers know that the smell of freshly baked bread is a trick, and they may be suspicious of any odors you’re trying to mask.

• Fresh Scents – Of course, it’s important that the home smells fresh; however, using overpowering candles or room fresheners can be overwhelming. It’s better to open windows to allow a crisp breeze to enter the space, or perhaps place freshly cut flowers.

• Elevator Music – It might seem like a home filled with smooth jazz would lend a relaxing feel, but it could have the opposite effect. Not only is it difficult to gauge the right volume, but it’s outdated and corny.

• Matchy-Matchy – Matched sets and uniform color palettes will make a home feel dated. Mix up the colors and patterns of pillows, bedspreads, and window treatments.

• Holiday Decorations – If your home is listed during a holiday, keep decorations to a minimum. Less is more for decorations of any kind; keep the home clean and as much of a blank slate as possible.

Staging a home is an art. The best strategy is to consult with an expert. Your agent can offer some suggestions for a professional stager who will make sure your home presents itself in the best possible light.

33 Washington Ave, Belleville NJ, SOLD by Matthew De Fede