This is question #1 among buyer clients these days. Inventory levels continue to be very low. Much of that has to do with seasonality. Real estate is a seasonal business for a number of reasons, with more transactions done in the spring and summer months. There are a number of reasons for that, but in 2024 the major cause is what we in the industry call the ‘mortgage rate lock-in effect.’ ​ Let’s consider a scenario where a homeowner has been in their home for 10 years, but t

1. Price Your Home Right The housing market shifted in 2023 as mortgage rates rose and home price appreciation started to normalize once again. As a seller, you still need to recognize how important it is to price your house appropriately based on where the market is today. Hannah Jones, Economic Research Analyst for Realtor.com, explains: ​ “Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive t

With the start of a new year, the idea of buying a home might be on your mind. It’s an exciting goal to set, and it's never too early to start laying the groundwork. One crucial step to prepare for homeownership is building a solid credit score. Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from CNBC explains: ​ “When it comes to mortgages, a higher c

When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. If you’re thinking about making a move, that can leave you with a lot of lingering questions. That’s where a trusted local real estate agent comes in. ​ Here are the top 3 questions people are

If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. You’re probably getting your information from a variety of channels, including the news, social media, your real estate agent, conversations with friends and loved ones, the list goes on and on. Most likely, the subjects of home prices and mortgage rates are coming up a lot. ​ Here are the top two questions you need to ask yourself as you make your decisio

If your listing has expired and your house didn’t sell, it's completely normal to feel a mix of frustration and disappointment. Understandably, you're probably wondering what may have gone wrong. Here are three questions to think about as you figure out what to do next. ​ Did You Limit Access to Your House? One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Being flexible with your schedule is

The new year is right around the corner, and many people are wondering if 2024 will be the right time for them to buy or sell a home. To make the most informed decision possible, it’s important to know what the experts have to say about what's ahead for the housing market. The good news is that it may be better than you think. Here’s why. ​ Experts Forecast Ongoing Home Price Appreciation Take a look at the latest home price forecasts from Fannie Mae, the Mortgage Bankers Ass

If you’re worried about a coming recession, you’re not alone. Over the past couple of years, there’s been a lot of recession talk. Many people worry, if we do have one, it would cause the unemployment rate to skyrocket. Some even fear that a spike in unemployment would lead to a rash of foreclosures similar to what happened 15 years ago. ​ However, the latest Economic Forecasting Survey from the Wall Street Journal (WSJ) reveals that, for the first time in over a year, less t

During the pandemic, many people distanced themselves from their loved ones for health reasons. Grandparents were told to stay away from their grandkids, especially as schools started to open. That’s because it would have been risky to visit with their grandchildren who may have gotten sick from school. Now that the pandemic has passed, many grandparents want more than ever to be near their grandchildren again to make up for that lost time. But how are they getting that “Gran

I have no idea how it’s possible that it’s been 40 years since I graduated high school. I’m very appreciative of having had the chance to catch up with my classmates who attended our reunion this past weekend. I was reminded of many good times and got to catch up with people I hadn’t seen in 30-40 years. Everyone was incredibly kind and because of social media, especially Facebook, most already knew a lot about me and my life today. I only heard words of kindness and support.

During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023. The media ran with those forecasts and put out headlines calling for doom and gloom in the housing market. (Shocking right? The media was focusing on negativity.) All of this negative news coverage made a lot of people have doubts about the strength of the residential real estate market. If it made you question if you should delay your own plans to move, here’s what

If you're planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. Home prices, especially in the Jersey shore area, have fared far better than expected, and are also rising across the country. Data shows, and experts forecast home prices will keep appreciating. ​ Experts Project Ongoing Appreciation ​ Over 100 economists, investment strategists, and housing market analysts were recently

1. Recreation: Parks & playgrounds, nearby beaches, lake access, bike trails and more! Ocean Township is located very close to many area beaches, such as Asbury Park, Ocean Grove, Avon by the Sea, and more! Deal Lake allows for kayaking, stand up paddle boarding, as well as other activities. The town also offers many other recreation options, from large parks, such as Joe Palaia Park (formerly Deal Test Site) to small neighborhood playgrounds, such as Appleby playground in Wa

In today's competitive real estate market, being proactive is the name of the game. The Summer of 2023 is not the time for buyers to cautiously test the waters; it's a time for decisive action. Are you in or out? This is the question serious buyers need to answer. ​ To stand a chance in this fast-paced market, buyers must be prepared to make an offer the moment they find a home that meets their needs. The window of opportunity is narrow, and hesitation can cost you the chance

If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. While things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place. It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. ​ With rates where they are right now, some homeowners ar

When the National Association of Realtors (NAR) releases it's Existing Home Sales Report, the information it contains on home prices may cause some confusion. This all stems from the fact that NAR will report the median sales price, while other home price indices report repeat sales prices. The vast majority of the repeat sales indices show prices are starting to appreciate again. But the median price reported may tell a different story. ​ Here’s why using the median home pr

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices leveled off to a degree in our area. These changes led to a rise in headlines saying prices would end up crashing. Even though we’re no longer seeing the huge buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the n

We’re still in a seller's market. And if you’re looking to buy a home, that means you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind, there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them. ​ Long-Term Benefits Outweigh Short-Term Challenges Owning a home grows your net worth – and since building that wealth takes time, it make

Many people are reaching the point in their lives when they need to decide where they want to live when they retire or their children leave home. If you’re a homeowner approaching this stage, you have several options to explore. Moving into a multigenerational home with loved ones is one. Multigenerational living is rising in popularity, but it isn’t an option for everyone. But staying put in your current home may fit fewer and fewer of your needs. There is a third option th

Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for. ​ What Are Closing Costs?People are sometimes surprised by closing costs because they don’t know what they are. According to Bankrate: ​