Are You Better off in the City or Suburbs?

Should you live in the city or suburbs? Here’s what you need to know.

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This is an age-old debate in the housing industry, and we’re starting to see some interesting changes in homeowner preferences as more and more millennials and young professionals enter the market. Most see the debate coming down to big factors like schools, amenities, and space. Families with kids have traditionally favored suburban living with large homes, plenty of bedrooms, and a backyard, as well as good school districts and a quieter environment. The city comes with more hustle and bustle, but some are willing to give up the space and quiet for walkability, proximity to entertainment, and the all-around ‘cool’ factor. 

Of course, price should always be a factor, especially when it comes to renting versus buying. Nationally, rent rates are slightly higher in suburban areas than in the cities, which is somewhat surprising (obviously this varies from city to city). Amenities aside, urban dwellers must consider their style of living in their homes as well. If you prefer the city lifestyle, are you willing to live with the likelihood of fewer bedrooms, smaller kitchens, and less outdoor space? Though rental rates are higher, rental properties in the suburbs are nationally about 18 cents cheaper per square foot than their urban counterparts, according to Zillow.

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 A real estate professional can provide you with price differences between suburban and city living.

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Then there are the neighbors. Are you willing to share a wall, floor, or ceiling with a neighbor? Or would you prefer your own private space where noise isn’t a factor? Do you prefer a backyard with green grass or would you rather step out onto your balcony with city views, where you're right in the heart of the action?

Of course, a real estate professional can provide you with price differences between suburban and city living specific to your area and educate you on even more points to consider in your city when it comes to proximity to amenities, schools, and entertainment. 

As always, if you’d like to know more about this or any real estate topic, don’t hesitate to reach out to us. We’re here to answer your questions and serve your needs any way we can. 

4 Questions Pet Owners Should Ask Themselves When Moving

There are four questions that pet owners need to ask when they buy a home.

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Make sure to ask these four questions if you’re searching for a new house for you and your animal companions:

1. What are the local pet laws? It’s not guaranteed that pets will be welcome in your new neighborhood, so make sure that you check your city and state laws for breed restrictions or limits on the number of animals that are allowed in a home.

2. Does the house have pet-friendly floors? Carpet is bound to be destroyed by claws and dirt, so we recommend that you opt for distressed hardwood floors instead. Your pet and wallet will thank you.

3. Can your pet handle the stairs? If your pets are growing older, consider whether they’ll be okay with the stairs in a multi-level property. To help your pets travel up and down with ease, look for a place with a carpet runner on the stairs.

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It’s not guaranteed that pets will be welcome in your new neighborhood, so make sure that you check your city and state laws for breed restrictions or limits on the number of animals that are allowed in a home.

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4. Is the neighborhood safe for pets to roam? Your four-legged friends need plenty of room to walk and play, so when you’re shopping for houses, make sure to peek around the neighborhood for parks and walking trails that are close by. You’ll both be very happy you did.

 If you have any questions about this or other real estate topics, we encourage you to reach out to us. We’d love to speak with you. 

Focus on These 2 Rooms When Preparing Your Home for Sale

When buyers view homes in person, their focus tends to shift toward two main areas of a home. Knowing what they are will help you maximize your sale price.

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When buyers are looking at properties, they tend to focus on two main areas of a house: 1. The kitchen. Everyone gathers in the kitchen. If you’re thinking about upgrading your home to add value before selling, focus on this area. Modern-style kitchens are very popular right now. Buyers like to see lighter shades in the cupboards and countertops. It’s also OK to add in a few traditional elements, but stay away from rounded countertops, because those have really fallen out of fashion.

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If you’re going to spend money on upgrades, spend it in these two places.

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2. The master bathroom. Buyers love to see upgraded master showers, freestanding tubs, and tile flooring. If you have carpet in your bathroom around the toilet or tub area, that must go. It’s a complete no-no. It's a huge turn-off for buyers. Buyers prefer light colors here as well.

If you’re going to spend money on upgrades to attract buyers and add value to your home, these are the two main areas you’ll want to focus on. If you want any further tips or have any other questions that we can answer for you, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

Transform Your Offer Into a Winner

If you’ve found your dream home, only to discover that other buyers have their eyes on it, don’t worry. There are steps you can take to make your offer stand out against the others.

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Today, I’m here to talk to you about four ways you can make your offer on a home stand out.

When you’re putting in an offer for your dream property, it can be disheartening to learn that there are actually competing offers from other buyers on the table. There are, however, ways to make your offer stand out in a bidding war.

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Sellers will often receive multiple offers on their home, and time will not be on your side. Do not sleep on it.

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Here are some tips on making the strongest offer possible:

1. Act fast. If buyer demand outpaces supply, as is often the case, it will result in low inventory. This means that sellers will often receive multiple offers on their home, and time will not be on your side. Do not sleep on it.
2. Make a solid offer. A solid offer will be comparable to other recent sales in the neighborhood and will represent market value. Sellers will view your offer as more solid if you’re pre-approved for the listed price amount, or if it is a full-cash offer. It will also help solidify the offer if it is not contingent upon the sale of your current home. You can also include a personal letter in the offer, letting the seller know exactly why you want to make their home yours. These kinds of letters can be very helpful when a seller is weighing their options, especially if they have sentimental attachments to their property
3. Don’t nitpick. Another way to make your offer stand out from among the others is to avoid nitpicking; you can do this by waiving certain contingencies, or by being lenient in your inspection. There are always things you can fix yourself once you’re in the home.
4. Be prepared to negotiate. A seller will many times present a counteroffer to your original offer, and certainly if there aren’t multiple offers. Counteroffers usually revolve around price and closing time. Make sure you give a serious bid, and that you are pre-approved for the amount. With regard to closing dates, sellers usually have an ideal timeframe in mind. Once again, being less picky here may give you an advantage if there are other buyers.

As always, we are here for you and anything that you may need. We’re grateful to be your community resource, ready to serve you, your friends, family, relatives, and neighbors. Please feel free to reach out us at any time.

What to Know Before Investing in an Airbnb Property

You’ve probably heard of Airbnb. Have you heard that people are buying investment properties for the sole purpose of renting them out on the site?

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You’ve probably heard of Airbnb and you may have even stayed in one before. It’s a great way for homeowners and investors to make some extra money, and a lot more buyers have been purchasing properties lately to use for this sole purpose. Before you decide to go all in on Airbnb, here are a few things you should know about first:

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This is becoming an increasingly popular strategy.

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1. Have you picked a good location? The first rule of real estate is location, location, location and it’s no different in this case. In order to be successful, the demand for lodging in the area must exist. It wouldn’t make sense to have an Airbnb property in a place that has little tourism. You want to be close to attractions and transportation. A good view certainly helps as well.

2. How much time and energy are you willing to invest? Airbnb properties don’t rent themselves, just like hotels don’t run themselves. You are expected to provide a clean space and guests will expect certain things like clean towels, tourist info, and a way for them to reach you if they have any problems. Hosting can be difficult, so you can hire a service to remove some of the burden for you if you’d like. It’s not cheap, however.

3. Are you hosting your Airbnb by the book? In places like New York and San Diego, they are cracking down on Airbnb properties because they are greatly affecting the hospitality industry. Laws and local regulations are always changing, so you need to make sure you are following all the rules and paying all the taxes you must in your area.

Renting out your place to Airbnb may not be a full-time business endeavor, but make no mistake, it requires effort and attention to detail. Consider that before buying a property for this sole purpose. If you have any questions for us about Airbnb properties or want to take a look at some promising ones on the market right now, give us a call or send us an email. We look forward to hearing from you soon.

How to Make the Buying Process Less Stressful

Don’t get overwhelmed by the home buying process. There are seven simple things you can do to make buying a home less stressful.

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Buying a home can be a very stressful process, but it doesn’t have to be. Today, I have seven simple tips to help you manage your stress during this time. Most of these are very easy to do, but many people forget to do them. 

1. Take time for yourself. Make sure that you take some time to meditate, relax, or even do some yoga. If you hire a great real estate agent, they can relieve a lot of stress for you right off the bat. 

2. Limit alcohol and caffeine. A lot of people turn towards alcohol and caffeine when they are stressed. Avoiding them will actually make you feel better at the end of the day. 

3. Make sure you get some exercise. Moving around and exercising are great ways to relieve stress. A 30-minute walk each day can make a world of difference for your stress levels and overall health. Walking from house to house doesn’t count. 

4. Get enough sleep. Six to eight hours of sleep is ideal, so try to get as close to that range as you can. 

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Make sure that you get enough exercise and rest.

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5. Sit and count backward from 20. This stress relief tactic will relax your mind and help you focus on your end goal instead of whatever obstacles are in your way. 

6. Stop aiming for perfection. Things are never perfect and never will be. Don’t live your life under a microscope. Allow your agent to find you a great home that you will be happy in. Even if there are a few minor issues, don’t worry. You can always make some changes if you want. 

7. Remember that no one person can control everything in a real estate transaction. Once you accept that there are a lot of different moving parts that need to align, you can trust the people you’ve hired to do what they do best. 

If you have any other questions about relieving stress during the home buying process or about real estate in general, give us a call or send us an email. We would be happy to help you!

The 3 Traits to Look for in a Home Inspector

Once your offer has been accepted on a home, the next step is getting a home inspection done. When you’re deciding who you want to do your home inspection, it’s a good idea to interview a few different companies.

You want a home inspector who can give you a full rundown of everything wrong with the home, everything that needs to be fixed, and everything that can wait. There are three different things to think about when hiring a home inspector:

1. Credentials. Make sure the inspector is licensed in New Jersey and is both professional and responsible.

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It’s a good idea to interview a few different inspectors.

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2. Experience. Everybody has to start out somewhere, but you’re better off picking a more experienced inspector. You want someone who is familiar with the builders and structures within the area.

3. Communication. Written reports are required in New Jersey, so you want to hire someone who can communicate well both in writing and in person. There are many things you should discuss with the inspector to determine if a house is desirable or not.

We have a 22-year history and relationships with many inspectors in the area. If you need a recommendation, we’d be happy to provide you with a list of our recommended inspectors that our past clients have enjoyed working with. If you have any other questions, please feel free to give us a call or send us an email at any time. We would be happy to help you!

Taking Advantage of Current Conditions

There are many great Northern New Jersey area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (201) 825-1266 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hi, I’m Debby Adler with the Adler Home Team. Today we wanted to speak to you about rising interest rates.

Many people have been asking us lately about interest rates and what we can expect down the road.

Over the last few years the Government has been buying mortgage-backed bonds at a very fast rate. This has been keeping interest rates at near record-lows, around four and a quarter percent for a 30-year fixed-rate mortgage. However, the Fed has slowly been reducing the amount of bonds they are buying and has announced that they plan to stop buying them altogether before the end of the year. This may result in a jump in rates to as high as five and a half percent come springtime.

The higher rates are still attractive to buyers, as interest rates have been around 8% on average for the last 30 years. If you do the math, this change in rates could have a big effect on your spending power.  If you plan on living in your home for 10 years, you could save as much as $18,000 by locking in current interest rates.

If you have the option of moving today, we recommend you start looking for your next home. Now is the time to lock in low rates for future savings!

Thanks for your time. Please reach out to us for any questions at any time. Enjoy your day.