15 Grandview Ave. West, Edison NJ 08837
https://pages.kw.com/deborah-kerr/231578/15Grandview.html
Beautiful 2 beds, 1.5 bath ranch with eat-in kitchen, living room, and formal dining room. Spacious yard great for entertaining. Minutes away from Roosevelt Park, near Menlo Mall and other shopping stores, YMCA after school care, easy access to major highways, near Metuchen Train Station with access to NY trains for easy commute. This property is a gem!
Coming Soon! Showings start 12/11 at Open House from 1-3pm
https://pages.kw.com/deborah-kerr/231578/95Spring.htmlOpen house set for
Beautiful brick ranch with kitchen, living room, formal dining room, lots of storage, enclosed sun porch, and full basement with laundry facilities. Natural woodwork, and a wood-burning fireplace in the living room. Spacious fenced-in yard with patio, great for entertaining. Near Whole Foods, downtown plaza, municipal pool, YMCA after school care, easy access to major highways, near Metuchen Train Station with access to NY trains for easy commute.#openhouse #metuchenproperties #forsale #metuchenagent #realestateforsale #listingagent #metuchen
There’s no question that November and December are the biggest times of year for shopping. But this year, it’s more important than ever to shop small and benefit your community.
Open House Alert! 169 E Chestnut Ave. Metuchen – Nov. 14th – 1-4pm – https://pages.kw.com/deborah-kerr/231578/169EChestnut.html
Beautiful Colonial with 3 Beds, 1.5 Bath property refinished hardwood floors, living room with fireplace, formal dining room, and screened-in porch. Ample parking and with 1 car detached garage. Full finished basement with half bath and ample storage. Lovely location near Whole Foods supermarket, great restaurants, NY train, and buses.
https://pages.kw.com/deborah-kerr/231578/2Jonesdale.html
OPEN HOUSE: Sat. Nov. 6th, 1-3pm & Sun. Nov. 7th, 1-4pm
Beautiful colonial in the heart of Metuchen. This incredible home has 3 bedrooms, 2.5 baths, a recently remodeled kitchen with a large, walk-in pantry, and a reverse osmosis drinking water system. Large family room/bedroom on the basement level, with full bath. Hardwood floors on 1st and 2nd floors of the house, and tiled bathrooms. The formal dining room leads to a beautiful screened-in porch overlooking the patio and a professionally landscaped garden with an automatic irrigation system. The property has an extended 2 car detached garage with automatic doors, and a large workshop behind (wood floors). Central air throughout the home, and lots of storage in the walkup attic. Close to Metuchen Train Station, shopping, and major highways.
By Mitch Mitchell – MORTGAGE SENSE
OCTOBER 13, 2021
Last month we wrote about mistakes for new homeowners. But we came up with a few more. Here you go!
Is it a good time to think about buying a home? That’s a personal question and only you can accurately answer it. The running joke is that a desperate real estate agent will tell you that the best time to buy is “right here, right now,” even if that’s not true. But the reality is that with interest rates still at historic lows, even a sketchy realtor might not be wrong. Sure, the housing market is on fire lately and bidding wars are more common than ever, but it’s on fire for a reason. Now IS a good time to buy — if you’re ready.
That leads us to this week’s topic: are you really ready to buy a home? Home buying is a substantial undertaking, involving plenty of paperwork and potential snags. And since everyone — especially first-time home buyers — could use some guidance, we’re here to help.
Let’s run through six of the most common home-buying mistakes and talk about how to avoid them!
YOUR EYES ARE BIGGER THAN YOUR BUDGET
It’s easy to get caught up in the whirlwind of excitement that happens when buying a new home. And if a bidding war happens — and you’re the type of person who has a fear of missing out — you could accidentally bid more than your budget will allow, even if you get pre-qualified for a larger loan. Don’t fall into this trap. You’ll be house-poor every month and have oodles of buyer’s remorse.
>> What to do? First of all, understand that getting pre-qualified is much different than getting pre-approved. Secondly, you want to have as much negotiation power as possible, especially if you live in a competitive housing market. Getting underwritten by a lender before shopping for a home makes any offer you put out there really stand out. It says, “I’m good for this amount of money and it’s safe to go to contract with me.” Start your pre-approval online so that you know how much house you can afford.
PUTTING IT OFF UNTIL YOU’VE SAVED UP 20%
Not long ago, a 20% down payment was the norm. But as home prices started to creep up, saving up 20% got even more difficult— especially for a first-time home buyer and especially in today’s high-priced market.
>> What to do? There are plenty of opportunities to buy a home with a low – or even no – down payment. Start by looking into a VA loan, a USDA loan or an FHA loan.
YOU NEVER CONSIDERED PMI
If you can’t come up with a 20% down payment, which can be challenging for first-time homebuyers in this market, you’ll probably need to pay private mortgage insurance (PMI) on your loan. This part of the monthly mortgage payment goes to protecting your property in the event of a disaster or accident. Like property taxes, your monthly insurance payments can be collected and held in escrow and directly paid to your insurance company. This can be a whopping figure that might be shocking if you’re not prepared for it. Mortgage insurance can be up to 2% of the entire loan amount. That’s a big pill to swallow.
>> What to do? The simplest — and frankly, only — way to avoid paying PMI is to come up with a 20% down payment. But depending on the type of home you’re looking to buy and the kind of financing you’re applying for, you may encounter different types of PMI. If you have no choice other than to take out a loan with private mortgage insurance, ask for one with terms that allow you to cancel as soon as you have 20% equity in the property or a loan-to-value ratio of 80%.
NOTHING LEFT IN YOUR SAVINGS ACCOUNT
Don’t be in a situation where you have to empty your savings account to cover your down payment and closing costs. If that’s the case, this is NOT the right house for you. And there are more expenses than just the mortgage, property insurance, title insurance, legal fees, home inspections and unexpected repairs. Even the basics like painting, new furniture and hiring movers don’t come cheap.
>> What to do? It’s common practice to put away 3-6 months of living expenses to protect you from emergencies like unemployment, medical expenses or replacing a hot water heater, that sort of thing.
NOT TAKING CARE OF YOUR CREDIT
We already touched on getting pre-approved before going house-hunting, but you’ll run into roadblocks if you don’t have a handle on your credit history and credit score. Key factors that make up a credit score are payment history, the total amount owed, the length of your credit history, types of credit in use and whatever new credit accounts you may have opened. Too much credit and you may be in trouble. Not enough and you may be deemed a risk. It’s a balancing act and you’re in control.
>> What to do? Be smart about credit and aim to use no more than 10% of what’s available. Make a concerted effort to reduce or eliminate debt before applying for a loan. And don’t close accounts in good standing. Regular, on-time payments are the solid foundation for a great credit score. See more tips on how to improve your credit score.
HIRING THE WRONG REALTOR
If you’re a first-time homebuyer — or even if you’re not — finding a compatible agent can be overwhelming! First, they’re super busy these days. And second, they always have their feelers out for their next client. Can you blame them? If it feels like your agent wants to close your transaction quickly so they can move on to the next, maybe you hooked up with the wrong one.
>> What to do? As a first-time homebuyer, you really need to try to find an agent who is patient, can guide you through the entire process and, above all else, is in this business to help people get into new homes without a lot of stress. The best way to find a reliable real estate agent is to get a referral. Then, ask friends or family members (zero in on those who own homes) if they have any recommendations. Our advice? Take your time & do your research, ask intelligent questions and come into the relationship prepared. Here’s a great blog on how to do just that!
Unless you’re in the market for a luxury yacht, buying a house will probably be the biggest purchase of your life. Depending on the terms of your mortgage, it’s a decades-long commitment. Home-buying can be exciting, but it can be complex — especially for newbies. But we’ve got your back!
Now that you know some of the mistakes to avoid, here’s something you shouldn’t avoid: Speak with a mortgage professional in your area who can look at your unique situation and tailor a mortgage that’s right for you.
If you’re feeling vibes that say you’ve got this, great. Apply online with the Movement Mortgage Easy App. This tool will help you get pre-approved quickly by letting you upload all required documents straight into the app.
Mitch Mitchell is a freelance contributor to Movement’s marketing department. He also writes about tech, online security, the digital education community, travel, and living with dogs. He’d like to live somewhere warm.
One of the biggest stories of the COVID-19 pandemic in the US has been its impact on residential real estate markets of all shapes and sizes. From in-town neighborhoods to outer suburban enclaves, from starter homes to luxury estate properties, it seems that every sector of the market has experienced unique challenges and opportunities.
Where will the market move next and how do you know whether this is a good time to buy or sell a home? As always, it comes down to a combination of supply and demand in your chosen neighborhood along with your willingness to adjust to market conditions as they develop in the months ahead.
A combination of both record-low interest rates and low inventory in markets throughout the country has resulted in unprecedented home valuations, with median home prices surging nearly 25 percent year-over-year in recent months. This rapid increase and the overwhelming uncertainty attendant on everything related to COVID-19’s impact on the economy has led to speculation about the long-term effects on the housing market and whether the law of diminishing returns will come into play.
While predictions are necessarily uncertain, there is plenty of reason to believe that the residential real estate market will continue to be active and robust in the months ahead. Here are a few of the reasons.
Forbearance may lead to increased inventory
CARES Act economic safeguards that were put into place in the early days of the pandemic, including forbearance for government-backed mortgages, are set to expire in late September. While many homeowners will have made arrangements to refinance or repay their missing mortgage payments, others will no doubt put their homes on the market in response to the end of forbearance.
According to information from the Federal Reserve, homeowners who are still in forbearance will likely be unable to get caught up on their loans, resulting in a larger number of homes available for eager buyers. This may be especially evident in less-expensive markets or in first-time-buyer-friendly properties. That increased inventory could help to stabilize those sectors and protect them from the effects of additional inflation.
The Delta variant’s impact remains uncertain
As the Delta variant grabs headlines, its impact on the housing market remains unclear. While it could lead to increased lockdowns and a return of low inventory conditions, the relative effectiveness of US vaccination efforts and the newly FDA-approved Pfizer vaccine may help to limit the market effects of the Delta variant and prevent additional shutdowns.
In addition, as momentum has begun to swing back to recovery mode, with increases in travel and interest in big-city residential markets, it’s hard to imagine another full-scale shutdown in the short term. This, along with traditionally lower demand during the fall and winter, may help to keep the market more balanced this time around.
Buyer behavior could begin to normalize
According to some experts, buyers may have finally tired of paying top dollar for as-is properties while competing with dozens of other offers. If so, buyer behavior could begin to return to something like normal, resulting in stabilizing home prices, more days on market, and increasing inventory.
There are a number of reasons that buyers may be unwilling to jump back into overheated negotiations, including the following:
The much-lauded real estate bubble does not look set to burst.
While rising home prices had many analysts predicting an unsustainable real estate bubble, others believe that markets will remain stable or continue to grow, albeit at a more moderate pace. According to CoreLogic, home prices will continue to rise by more than 3 percent over the next several months. Among the reasons?
So is late 2021 a good time to buy or sell?
While the fall and winter months may not be as active as they were in 2020, late 2021 is still poised to be an active time for the US real estate market.
For buyers, this looks like an ideal time to reboot a previously abandoned home search. With high-levels of personal savings, continuing low interest rates, and projected increases in home inventory, this might be the perfect moment to purchase. Successful buyers will be preapproved and flexible, willing to make decisions under time constraints, and open to making changes to their wish list as required.
For many sellers, it is a time to consider whether slowing home price increases make this an ideal time to cash out, especially if previously frustrated buyers jump back into the market. The biggest concern for most sellers will be determining where they go next, and what availability they will find in their new market. Look for buyers who are open to your timeline or who are willing to entertain a rent-back to accommodate you while you search for your new home.
As always, your best bet in any market is a consultation with your trusted real estate professional. An agent can provide you with the information you need about local home prices, market conditions, and current trends so that you can make smarter decisions, whether you’re buying or selling a property.
There are so many enjoyable fall activities, from carving pumpkins to lounging around the bonfire. Autumn can also be a great time to enter the housing market. While there may not be as many interested parties as there are during spring and summer, you may face less competition selling your home, and motivated buyers may want to move into a new house before the holidays. However, before potential buyers visit your home, it can be beneficial to stage your house with fall-inspired ideas to help it stand out.
Make use of light
As fall progresses and days grow shorter, your home may lack natural light. So, make sure to provide plenty of additional light around your home, as well-lit rooms will help the space look larger and more inviting. Go room to room, and try to scope out any shadowy areas that could benefit from a lighting upgrade. You can leave your lights on timers throughout your home so they shut off after the showing, but make sure to regularly check your lamps and light fixtures, and replace any burned-out bulbs. If you’re looking to improve the light in certain rooms, you might also consider painting the walls. Neutral paint colors such as white and gray are both excellent options that reflect light well.
Don’t forget to leave on exterior lights to help guests get a better look at your home and yard if they’re there after dark. This will also allow warm, welcoming lights to greet guests, which will help boost your curb appeal.
It’s imperative to keep your home as comfortable as possible during a showing, especially in areas that have frigid fall days. If you’re getting ready for a showing, try to keep your home’s temperature between 70 and 73 degrees. If it’s too hot, the potential buyers may become sweaty and distracted. If it’s too cold, they may worry that your heating system does not work well.
Fall is a season in which comfort is of utmost importance. Use this to your advantage, and accentuate your couch or armchairs with accent pillows and throws in an autumn color palette. You can also place soft rugs around your home if it has hard tile or wood floors. If you have a fireplace, stack some wood near it to help potential buyers imagine themselves warming up there on a cool fall day. You can even ask your agent to turn on a gas or electric fireplace before the showing to emphasize that homey feel.
Summer might be over, but there is still plenty you can do to make your outdoor space look more appealing. Here are a few suggestions to boost your curb appeal:
If you want to decorate the outside of your home, a fresh pumpkin or two on your front porch can feel homey and add a pop of color. However, you must remain diligent in making sure the gourd doesn’t start to show signs of rotting, which is a major turnoff to potential homebuyers.
While you may enjoy decorating for Halloween or Thanksgiving, it’s better to keep your decorations in storage when selling your home. An abundance of seasonal decor can be distracting, and some items may even offend a potential homebuyer. Instead, keep the decorating to a simple fall theme, like an autumn-inspired wreath or a fall color palette.
If you’re looking for more home staging tips, check out this decluttering guide to help each room of your home look spacious and clean.
Deborah Kerr -Broker of Record
Contact me with any questions!
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Keller Williams Elite, Realtors
481 Memorial Pkwy
Metuchen NJ, 08840Office
Each office is Independently Owned & Operated. If your property is currently listed with another realtor, please disregard this offer.,
You are invited! 100 Spring St. Metuchen NJ – $599,900
Open House:
Sat. Sep 11 from 11-2pm and Sun. Sep 12 from 1-4pm.
Beautiful Cape Cod in Metuchen with 3 bedrooms, 2 full baths, eat-in kitchen, living room, and family room. A spacious fenced-in backyard with a beautiful deck great for entertaining, storage shed, and lots of privacy! This property is close to major highways, Metuchen Train Station, Downtown Metuchen, and Shopping.
https://pages.kw.com/deborah-kerr/231578/100Spring.html
Deborah Kerr - Metuchen Real Estate Agent