How Do I Know What My House Is Worth?

Outside of contacting a “We buy houses NJ” company to get an offer for your property, knowing how much your worth is on the market right now won’t be easy. However, one thing that we can be sure of is that your property most likely will be worth significantly more than when you purchased it many years ago.

If you’re planning on selling your home and want to get the best deal possible, you shouldn’t settle on the price from the offer that you get from a “We buy houses NJ” company

Instead, what you should do is to do your research.

Check Your Property Value Assessment
What the property value assessment is the value of your home as determined by your local government following the annual inspection.

While the inspection is done for tax purposes, you can still use the property value assessment to check out how much your home is valued. Also, if you’re worried that your home is not being valued properly by the inspector, you should consider thinking otherwise. This is because these inspections are rather extensive. Not to mention, the local government has an incentive to do it well because the value is used to determine how much tax they should lavy against your home.

What Is a Fair Market Value? How Do You Determine It?
Your home’s property value assessment might be nowhere near the figure that you prefer.

If that’s the case, then you’ll want to work with a real estate agent to determine the fair market value of your home.

The fair market value is not as objective as compared to the property value assessment done by the inspector. As opposed to being based on numerous logical factors, the fair market value is affected by emotions and sentiment.

This means that someone might be willing to pay more for your house than what its property value assessment says it’s worth just because they really love the location. On the other hand, someone else might not feel your home as much and might not be willing to match the property value assessment offer, if they’d even give an offer at all.

In any case, by working with a real estate agent, you should get a proper fair market value that reflects the current and potential value of your home.

A great way to make your home sell for more is to look at other positives that a proper value assessment might not consider.

A good example is how close your property is to elementary and middle schools, as well as a mere stone’s throw away from the bus stop of a well-known high school. Or, another thing worth factoring into the fair market value of your home is if it has the latest security technology installed, or has additional security measures such as a gate at the front and at the back.

Small touches such as a well-maintained lawn and a fresh coat of paint, or even a flower-filled garden, can all help increase the fair market value of your home and make it appeal better to interested buyers.

Sell Your Home to a We Buy Houses NJ Company Today
Getting a fair price for your home on the market isn’t easy. It’s possible, but you’ll have to do a lot of work. Not to mention, there are numerous costs involved, including the maintenance and repairs of your home to attract potential buyers, as well as the fees involved in closing the deal and the percentage-based fee of the real estate agent.

What we’re trying to say here is that you might not get as much money as you’d expect after selling your home.

On the other hand, working with a “We buy houses NJ” company means that everything is transparent. You get an offer, you close the deal, and you get the money. The best part? Your house is sold as-is with minimal hassle and costs on your part.

How Do You Sell an Inherited Property?

It’s tempting to sell inherited property to the first real estate investors that you see that advertises things along the lines of “we buy houses NJ”. However, you shouldn’t do that just yet.

The truth is, whenever you inherit any kind of property from a loved one, you’re not limited to just a single option. You have multiple options to choose from. In fact, you don’t technically need to sell the home.

What other people do is rent out the inherited property. Others also move to the inherited property and choose to either sell or rent out their own property. These are all more economical options. This is especially true if you don’t need the money right away. But, if you do plan on selling the inherited property, there are multiple options.

You can either sell the inherited property through a real estate professional or through a cash buyer, for example.

1. Work with a Real Estate Professional
First things first, Realtors are different from real estate agents.

Even though both do essentially the same jobs, the term “Realtor” is trademarked by the National Association of Realtors in the United States. This means that only members of the organization can use the term Realtor.

As for brokers, they are real estate professionals who’ve taken and passed the broker exam. They’re better equipped and more knowledgeable than the average real estate professional. This is because of their time spent studying extensively legal issues and topics concerning properties, investments, constructions, and more. Also, in some states, in order for a real estate professional to qualify for the broker’s exam, they’ll have to have several years of experience in the real estate industry under their belt first.

Either way, you’ll want one of these three professionals handling your property if you want to sell it.

These professionals have been in business for years, if not decades, and know the best way to help you and your particular case. But, before choosing a real estate professional, do make sure that you do your research first.

Reputation is key. The more reputable a real estate professional is, the better.

Also, even if a real estate professional is reputable, you’ll want to make sure that they have prior experience selling inherited properties first. Otherwise, they might not know how to sell your house fast and for a fair price. Meanwhile, minimizing if not completely eliminating the chances of you facing legal issues from the transaction.

2. Sell to a Cash Buyer
If you need money the money right away and don’t want to worry too much about all the usual fees involved in selling a property, you can field an offer from a cash buyer.

Cash buyers are usually the ones that advertise “We buy houses NJ for cash” and while they do get quite a bit of a reputation for shady dealings, there are plenty of legitimate cash buyers who will be willing to guide you through the home sale process.

The best part about working with a trustworthy cash buyer is that the transaction is fast and you receive a fair price offer.

At first glance, the offer of a cash buyer for your inherited property might seem like below market value. However, when you consider that you get the money within a few weeks and you don’t have to worry about anything else other than signing over the property, which is far from what would happen via a traditional home selling process, working with a cash buyer no longer sounds like a bad idea.

Besides, the worst thing that can happen if you try and work with a cash buyer is to receive an all-cash offer in a matter of minutes.

How Homebuyers Should Approach the Spring Homebuying Season

Prior to the pandemic, the conditions for the upcoming spring homebuying season were clear — demand was high, while the inventory and mortgage rates were low. This meant that for homeowners, it was the best time to refinance. On the other hand, it was a seller’s market, with homebuyers pitted against each other.

Thanks to the pandemic though, the once stable real estate industry is seeing changes on a daily basis. This suggests that there’s no telling what the market could look like once this is all said and done.

While history does suggest that pandemics don’t really affect home prices that much, we haven’t seen a pandemic ravage the economy quite as the COVID-19 has.

Case in point, banks and financing institutions have had no choice but to suspend mortgage payments. If this goes on any longer, we could see a liquidity crunch, or a scenario where the lenders no longer have the necessary capital to lend to interested home buyers. At the same time, people with below-average credit scores are already feeling the effects of the pandemic as they now find it near-impossible to qualify for a mortgage.

But, then again, on the flip side, if the mortgage industry is not as affected as expected, we could see the housing market recover quickly and get right back to where it was before all of this happened.

At the moment though, that’s akin to wishful thinking. The truth is, even if the mortgage industry doesn’t end up a lot worse, the economy surely won’t be the same.

With more and more companies feeling the brunt of the effects of the pandemic, people will have less money to spend on a new home. This could lead to a drastically lowered demand for real estate.

What Interested Home Buyers Should Do
For potential buyers who were already in the market before all of this happened, the pandemic isn’t all that bad.

If you’re looking to buy property in the next couple of months, there’s a high chance that there won’t be as much competition. It would probably still be a seller’s market. This is because real estate never really is as affected as other industries whenever a recession happens.

Situations like newly married couples wanting a new house, or a growing family needing a bigger nest, or empty nesters looking to downgrade, will always be there. Even if a full-blown recession does happen, the housing market should survive. In fact, there’s enough evidence to show that home prices could go up in case a recession does indeed happen. This is especially if the mortgage industry doesn’t bounce back as fast.

With that said, interested home buyers might find it in their best interest to wait things out unless absolutely necessary.

The prospect of having fewer competition while bidding on your dream house should be enough to incentivize waiting, even if it comes at the expense of having to deal with a higher asking price or less than ideal mortgage rates.

Is It A Good Idea to Sell House Now?
“Should I sell my house NJ?”

This is the question that many home sellers are probably asking themselves right now, and the truth is, it depends. However, if you don’t really need the money just yet, you’re better off waiting for things to pass.

There are fewer buyers on the market right now and you might want to hold on to your property just in case the value increases once this is all said and done.

If you do have to sell your house fast though, you might want to consider selling to a local cash buyer.

By selling to a local cash buyer, you all but guarantee that the transaction goes smoothly and with little to no delay. Not to mention, selling a property during these turbulent times through conventional means is not easy. But, since you’re dealing with a cash buyer, that property is already as good as sold as soon as the two of you agree on a price.

Foreclosure vs Short Sale — Which is the Better Option?


You’ve seen the ads saying “we buy houses NJ” and you’re probably tempted.

You don’t need to feel ashamed. Rough times fall on the best of us. Even the most financially-savvy property owners will find themselves down on their luck and on the verge of losing their New Jersey house.

If that happens and you start missing on your mortgage and insurance payments, what do you do?

Do you immediately search “how to sell my house NJ?” on Google and hope for the best?

When Does a Foreclosure Happen?
Contrary to popular belief, financial institutions don’t seize your property immediately after missing one payment. It usually takes at least 3-6 months of missed payments before the foreclosure process begins, and before that happens, financial institutions will usually offer a way to restructure the deal to make it easier for the borrower to pay for any payments he or she may have missed.
Should You Let Your Property Be Foreclosed?
No. For obvious reasons.

It’s your house. Where would you live if it was foreclosed? More importantly, you’ll essentially be throwing away all of the money you’ve invested on your property if you default your mortgage and let the bank have your property.

If you don’t have money though and the lending institution is not as flexible when it comes to helping you pay out your mortgage, what do you do?

A good answer to this is a short sale.

What is a Short Sale?
What happens in a short sale is the owner tries to sell the property before the foreclosure date. However, the reason why it’s called a “short sale” is that the market value of the property is not enough to cover the balance on the mortgage.

Not all lending institutions will allow for such a sale to happen. However, if you, the owner of the property, can convince your lender to let you short sell the property, it’s better for your credit score. But if you can’t convince the bank to do that, your property will be sold in a foreclosure auction, and if it doesn’t sell, it will be repossessed and placed on the market for sale like any other property.

Why You Should Never Foreclose

If possible, foreclosure should be avoided. The reason for this is that your credit score is impacted significantly if that happens. This will not only make it difficult for you to get another property in the future, but it will be harder for you to apply for other loans for your car or even get a job or rent a new house where landlords have strict credit score requirements.

Are There Other Options Outside of a Short Sale?

The best time to do a short sale before your lender starts filing legal action against you and your property, preferably right around the time you start missing payments or before you start missing them if possible.

Short sales aren’t the only answer though.

Selling to a cash buyer is another possible option.

Contacting a cash buyer as soon as you miss your first payment and before legal actions are taken against you is the best way to know just how much more money you can get from your property with little to no legal repercussions.

5 Tips To Get Your New Jersey Home Sold Fast

The fastest way to sell your New Jersey home is to contact a trusted and legitimate “We buy houses NJ for cash” company.

But, what if you want to go through the traditional home selling process? Is there a way to sell a New Jersey home faster than the national average of 80 days?

Below are 5 tips that can help you sell your New Jersey home fast.

1. Sell at the Right Time
According to statistics based on data gathered from the New Jersey market in 2020, the best time to list your home for the most profit is July, but the fastest that it will sell by is usually in June.

Of course, this can vary depending on your city. But, regardless of which city in New Jersey you live in, the reasoning behind why June and July are the best times of the year to sell New Jersey properties is sound. This is mostly because parents are on the lookout for a new house to move into during summer.

2. Make Your Home Appealing to Buyers
As much as we’d love to objectify the home-buying process, the fact is, it’s mostly based on gut feel.

Unless you’re selling to a cash buyer, the typical homebuyer based his or her decision on whether or not they feel your home. Your job, then, as a seller, is to stage your home so that potential buyers can picture themselves living in your home.

Proper staging with the help of an interior designer can help you achieve this effect.

3. Hire a Photographer
Before you ever get a chance to give potential homebuyers a feel for your home, you’ll have to attract them first.

One common area where plenty of home sellers skip is their photos. They often take the photos themselves and list their property, thinking that it’s enough. Well, it’s not.

The best way to show off your home and make it as appealing as possible in the eyes of a buyer is to make it stand out from other listings. Hiring a professional photographer with a keen eye for detail can help you show off the interior, as well as the exterior, of your property, and what makes it worth buying.

4. Be Accommodating
If possible, accommodate buyers at their most convenient time — not yours.

Even if it’s not a good time for you and/or your family, turning away a potential buyer is a big no-no.

5. Price Your Home to Sell
This is where you should get objective.

Potential homebuyers generally don’t care about the history or heritage of your home. As such, it’s important that you price your home competitively, preferably right around its estimated market value if not lower. But, at the same time, don’t price it too low either. This is because that’s a good way to lose yourself thousands of dollars.

If possible, hire a realtor to perform a comparative market analysis to help you determine a fair and competitive price for your property.

Of course, as mentioned earlier, if you want to sell your New Jersey home fast, your best option is to sell it to a “We buy houses NJ for cash” company. Although you’ll have to sacrifice quite a bit of equity when selling to a cash buyer, you do get the benefit of being able to close the deal on your New Jersey property in as little as a month or two without having to stage your home, negotiate with potential buyers, and/or deal with renovations or repairs.

Why You Should Be Realistic When Selling Your Home

“How do I sell my house fast?”

 

That’s the first question on most home seller’s minds and why shouldn’t it be? Paying for two mortgages is a financial mess that most people can’t afford to find themselves in. But if you’re not careful, it’s the same exact situation that you could put yourself into if you price your home too high.

The Problem With Overpricing Your Home

A lot of home sellers think that they SHOULD overprice their homes when putting it up for sale. Their reason? It gives them extra room to haggle. They believe that by pricing it a bit above their expected selling price, they won’t have to take that big of a financial hit once the property’s been sold. But here’s the thing, most home buyers won’t bother haggling the price of a property down to a figure they can afford if it’s too high up. 

 

Remember, home buyers only care about one thing, and that’s making sure that the home they want to buy is worth how much they’re willing to pay. 

 

By pricing your home above average, you don’t give it wiggle room for haggling. You make it far too expensive for most interested parties to even bother haggling. This is true even for prime properties in coveted locations. 

 

Again. Buyers don’t care about your sentiments, such as how much money you put into the property, or how much money you’d prefer to have on-hand once you move to your new home. They just want to get their money’s worth, which is right around the average selling price in your area if not preferably lower. 

 

If by any chance, an interested home buyer decides to make an inquiry about your property, its number of Days on Market (DOM) is likely to turn them away. This is because, once a property has exceeded the average number of DOM for properties in an area, it’s a huge red flag for home buyers. They most likely will think that the property isn’t worth the money anymore, even if they manage to haggle the price down. 

 

When pricing your home, it’s important to take a close look at the average price of real estate in your area, and how much time it took for a particular property to sell at a certain price.

Talk To Your Real Estate Agent

The best way to sell your home for a reasonable price without having to put yourself in a huge financial hole by paying for two mortgages for half a year or so is to have a good talk with your real estate agent. 

 

A competent real estate agent will be able to share with you a Comparable Market Analysis (CMA). This will contain important information. This includes listings and sale prices of nearby properties, as well as active listings under contract and those that have yet to sell over a certain period of time. 

 

A CMA stretching as far back as six months should give you and your real estate agent an objective means of pricing your home.

Handing Over Cash For House in Front of Beautiful New Home.

Sell Your Home to a Cash Buyer Today

If you want to take the hard work out of the home selling process, a good way to get your house sold within a month or two is to talk to a cash buyer. 

 

Between competitive pricing and saving you from the hassle of the typical home sale, as well as paying for a real estate agent and other fees, selling to a cash buyer might end up netting you more money in the end. 

Why the Listed Price of a Property Isn’t the Final Sale Price

If you’re a first-time homebuyer, you might be tempted to avoid properties listed that are a bit above your budget. But in most markets, you’ll find that the listed price of properties is far from the final sale price. In fact, fewer homebuyers these days end up paying the listed price of a property, and even fewer end up having to pay more. 

 

What this means is that, as a homebuyer, you should be more than willing to make inquiries for properties that you initially thought was way out of your price range. More importantly, that property that you think is priced just right could very well be had for a lot lower. 

What Should I Look Out for as a Homebuyer?

Of course, you can’t just go haggling blindly. There’s a science behind it. 

 

For example, if you’re scouting real estate properties in a particular area, you might want to do your homework first. In particular, taking a close look at the final sale prices of comparable homes within the same area will give you a better clue as to whether or not the listed price of a particular property you’re eyeing has wiggle room or not. 

 

By understanding the relationship between the listed price and the final sale price of properties in the market that you’re looking at, you increase the likelihood of you ending up with a deal that you can walk away from happy and contented. 

How Sellers Can Position Their Properties Better

Does this “new” reality in real estate prices mean bad for home sellers? Not exactly. Part of the reason why there’s an increase in discounted real estate properties is that there are so many home sellers that price their properties higher than they realistically should. The resulting discounting of their properties then becomes inevitable. 

 

Far too many home sellers fall into their own trappings and biases. They believe that just because they paid for a certain amount for their properties, including purchase, renovations, and upgrades, that a home buyer should pay just as much as well. Some also believe that just because their neighbor got a certain amount they feel that their home should sell for just as much as well, if not more. But that’s not how things work when dealing with real estate properties. 

 

The reality is that the final sales price of your property is largely determined by current market conditions — not how they were years ago when you bought your property, and certainly not when your neighbor found a buyer for their property. 

 

Factors such as the most recent comparable sales prices, mortgage rates, and the state of the local economy all affect your property’s final sales price. 

How Can I Sell My House Fast?

Now, for home sellers who want to sell their house fast, there are other things that you can do as well. For starters, according to research, listing your house with a precise number (listing it as $201,750 instead of $200,000) increases the likelihood of it receiving a higher offer. This may have something to do with giving off the impression that you did your research and your property is priced “right” compared to others. 

 

Of course, the home selling process is long and tedious. It’s not just a two-step process where you put a property up for sale and find a buyer. Instead, it’s a process with multiple steps that could fall through in the end for a number of reasons. 

 

For a sure-fire sale, heading to a cash buyer is a good option. 

 

In as little time as a month, you could find yourself free of any and all financial obligations related to your real estate property and with a reasonable amount to show for it. 

What’s New in the North Bergen Real Estate Market this 2020?

A new year is always a good time to reevaluate our stocks and take a good look at the market. The real estate market, in particular, is almost always changing, which is why it pays to take a step back and take a close look at the bigger picture at times. This is especially true if you’re heavily invested in the real estate market and want to know when the best times to buy and sell are. 

What’s the Current Real Estate Condition Like?

Zillow’s analysts put North Bergen as a seller’s market. Further research only serves to prove this. By the numbers, a listing typically receives 3 offers and sells relatively close to the listed price (around 3% below, give or take). At the same time, even though a listing can stay pending for as long as 85 days, “Hot Homes” can sell relatively quickly in as short as 36 days and at the listing price at that. 

 

It’s also worth mentioning that the price of homes in North Bergen has gone up by as much as 5.2% over the past year. Zillow predicts a more modest but still healthy 2.3% rise in the next year.

 

The median price of homes found on the North Bergen Township listing is set at $419,500, whereas the median price of homes that have been sold is $350,400. Meanwhile, as the inventory continues to drop and buyers continue to flock to North Bergen due to the rising rent rates and  real estate prices in New York, it’s a relatively good time to start investing in North Bergen real estate. 

 

This also means that if you’re looking for the answer to the question, “how to sell my house fast NJ?”, then your answer is to sell it right now. 

 

It’s a seller’s market out there, and with the Home Value Index expected to remain the same for the rest of 2020, it’s going to be hard to get better pricing than what most homes in North Bergen currently go for the rest of the year. 

The Rise of Mid-Sized Markets

According to the predictions made by the National Association of Realtors (NAR), the Housing Market for 2020 is looking pretty good for mid-sized markets like North Bergen. This is because of a combination of low inventory and increasing mortgage rates. Because of the expected 3.88-percent bump in mortgage rates for 2020, buyers are more likely to flock mid-sized markets for more reasonably-priced homes compared to entry-level properties. 

 

But of course, you might want to take these said predictions with a grain of salt. In particular, dire news of market shifts doesn’t seem to affect buyers much. It’s as if buyers aren’t really scared by how “dangerous” the current administration is, as depicted by the media and their most recent news reports.

What Events in 2020 is Worth Watching Out For?

2020 should be a relatively quiet year. However, it might help to pay close attention to the November Elections. 

 

As local, as well as Federal and State governments find themselves busy campaigning, their expected statements about how dire the current situation is might have an effect on the home buying situation in the area. In fact, it’s highly likely that more citizens will be willing to buy homes than in previous elections, which is a good sign if you plan on investing in real estate soon or want to sell your property in North Bergen. 

 

Is Gray Out and Color In This 2020?

It’s a new year, and you know what that means — it’s time to redecorate and update home decor!

 

For 2020, home decor trends seem to lean towards less monotonous colors like gray, whites, and beiges and more towards accents and colors. 

 

Below are a couple more predictions from well-known interior designers about what kind of home decor will trend in 2020. 

1).The return of floral wallpapers

Wallpapers died out a couple of years ago (or more like a decade), but better and more affordable alternatives have led to their comeback. In particular, modern floral-patterned wallpapers are expected to trend this 2020, such as those with metallic and textured designs, or bold patterns. 

2).Bluer than blue

No, we’re not talking about Michael Johnson’s classic song. We’re talking about how blue will take over design trends this 2020. This is largely because the Classic Blue color was declared by Pantone as the Color of the Year for 2020, and well, why not? From the Classic Blue to the Navy and Royal Blue colors, expect this highly versatile and sophisticated color to be the trend going forward.

3).More color, especially in kitchens

For years we’ve been told to stick to a couple of colors in kitchens. Not this 2020. 

 

From a mix of bright colors and natural wood shelves to whatever it is that you can think of, we’re slowly deviating from plain-colored kitchens to more colorful alternatives.

4).Vintage is everything 

If it seems like we’re traveling back in time, we supposed that’s just how fashion and design works. Because, really, from the more contemporary furniture that has been the trend in recent years, we’re seeing more and more furniture start to resemble the furniture pieces of the 1800s and the 1900s. 

 

Of course, as with anything else, use vintage accordingly. Unless you’re going full-vintage, use vintage furniture and art as a statement or accent pieces. 

5).Contrasting decor

Speaking of colorful kitchens, contrasting decor is in as well.

 

For 2020, don’t be afraid to NOT blend your furniture. Invest in decor that contrasts each other, like putting light-colored kitchenware in dark-colored cabinets, and so on. This contrast in colors helps make each of your decors stand out and act as individual accent pieces instead of blending in each other.

 

Of course, these new decor trends are a mere guide. You’re still free to decorate your home as you please. But if you pair these decor trends with your imagination, you’re sure to have a beautiful home this 2020.  

 

How to Stick to Your Resolutions This 2020

New Year’s resolutions are pretty much expected once the calendar year ends. But the thing is, just as expected as these resolutions are is the inevitability that we will all fail in keeping them anyway. Most of us can’t even keep our resolutions for a week let alone for the entire year. However, even if that is true, it’s not necessarily a fact that it’s impossible to stick to resolutions. 

 

While it’s definitely not easy, you don’t have to stick to the narrative that you will fail to keep your resolution. 

 

This 2020, you can make the necessary changes to keep your resolution. 

 

Here’s how:

Make goals relevant to yourself

Who ever said that you can’t make new goals? Even though you’ve already made a resolution, you can always redo it and make a new one. This time around, make sure that your resolution isn’t just something that someone else suggested to you — it should be something that you want to achieve and is relevant to you. 

 

By setting a goal that’s both relevant and realistic, you make it more likely that you’ll be able to stick to a resolution. 

Stick to realistic resolutions and goals

Speaking of realistic, a goal should be something that you can do. Otherwise, it doesn’t matter how hard you try — you won’t be able to succeed in keeping your resolution. 

Break your resolution into smaller chunks

Let’s say that, for 2020, you want to lose weight. But exactly just how much weight do you want to lose? 100 pounds? That’s a good figure if you’re overweight if not obese. However, to achieve it, you’ll want to break it down into smaller chunks first. Case in point, instead of wanting to lose just 100 pounds, you can make it so that you’ll lose at least 2 pounds a week this 2020. 


By the time that the year ends, you’ll have lost at least 96 pounds (12 x 8), which isn’t far off from your goal. 

 

The reason for doing this is that it tricks your brain into accomplishing your larger goal by telling yourself to do it slowly.

Write down your goals

When you’re setting a goal, you shouldn’t just make sure that it’s relevant, realistic, and attainable, you should also make sure to write it down some place that you can see constantly.

 

Writing your goal down gives you something that you can use to inspire yourself week by week.

Don’t forget to reward yourself 

Circling back to the weight loss goal, if ever you find yourself losing more than 2 pounds a week, then don’t be afraid to reward yourself. Just try not to be counterproductive and reward yourself by gorging on food. Instead, opt for other things that bring you pleasure, like treating yourself to a trip to the massage parlor. 

 

Resolutions and goals aren’t bogus. They’re achievable. 

 

Thanks to these tips, you’ll not only have learned how to make a proper resolution or goal, but you’ll also know how to put yourself in the best position to stick to your resolutions for the entire year.

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