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

Selling My House In Nutley NJ For The Most Money, What Is The Best Way?

There are a lot of ways to sell your home in Nutley NJ,  but what is the best option?

Let's look at some of the different ways you can sell your home in Nutley, also other towns like Belleville & Clifton New Jersey also apply here, here are a couple of options for home owners and what they can do.

Well for one you can buy a for sale sign put it on your lawn (but check with Nutley township to see if you need a permit first) and then sit and wait for a buyer to drive buy, or you can actually go and post it also on craigslist, but then you are going to get a million calls from agents looking to list your home and they will call all hours of the night and day as well, does not sound like a great option does it? oh we call this FIZBO in the business.

You can also find a transaction broker, you pay then a flat fee and they put the home in the mls, One Photo and bam your for sale right! Not so fast, that is all you get, no marketing, no open house, no representation and your still going to pay at least another 2.5% if you want to find a selling/buyer broker, but you are going to be doing the negotiating as well, it's like going to court and being your own lawyer and you know what they say about that right.

Or you can find a very eager, willing and able agent to discount their commission and let them handle it, even better right? WRONG!!! remember you get what you pay for, this type of agent may do you more damage than selling it on your own, possibly representing your home in a bad way where you are never going to be able to sell it! Especially in a town like Nutley where everyone talks!  REMEMBER YOU GET WHAT YOU PAY FOR!

Or you can do what the smart people of the world do, find a professional "In Nutley" that is going to run comps for you and tell you exactly what your home is most likely going to sell for in Nutley,  using professional photos and video and copy to entice home buyers and put your home in the best light possible, remember we need to look better than our competition out there, and the marketing should not only include the MLS but also a social and digital marketing strategy as well, this is the best way to not only get you more money for your home, but also sell your home faster in today's marketplace.