If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the stories in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s happening to

Are you considering buying or selling your home but think it’s best to sit out today’s volatile real estate market? You may want to think twice. As far back as the summer of 2021 I heard people saying they were going to sit out the crazy real estate market because they didn’t want to overpay. What most of those people didn’t take into account is that with the low mortgage rates at the time, their purchase was actually being deeply discounted. Today’s mortgage rates are over 7

Considering buying a home on the Jersey shore? Regardless of whether you’re looking for a summer home or a year-round home, the town and neighborhood you live in are as important a factor in your decision making process as any. If you aren’t very familiar with the area you are looking to buy in then working with a buyer’s agent who is a local market expert is more important than ever. Some towns on the Jersey shore are more laid-back, like Ocean Grove for example, which is a

Learn the difference between a direct lender (bank) and a mortgage lender (aka mortgage broker) When working with a loan officer employed by a bank you are working with a direct lender. A direct lender will only be able to offer you products offered by their financial institution, which offers a multitude of financial services (savings, checking, financial planning, credit cards, etc). If you are dealing with a mortgage lender, sometimes referred to as a mortgage broker, tha

1. Overpricing the home The first days and weeks a home is listed on the MLS are critical. The longer a home lingers on the market, especially in today’s real estate environment with low inventory levels, the more questions potential buyers will have about it. Today’s buyers have been trained to get into listings as quickly as possible because ‘the good ones don’t last.” If a home is on the market for weeks or months those same buyers will wonder why it hasn’t sold yet and be

Here’s the bottom line, moving can be very stressful. That’s probably not a newsflash to anyone, but it’s certainly something that I am more aware of now having gone through a buy and sell with my own family recently.The transaction process can be extremely stressful! I’ve learned that it’s important to keep things in perspective. I was lucky enough to be reminded of that by a colleague recently. It seems that whenever I was asked about our new home, or the move, or anything

The last few weeks of my family’s lives has been a whirlwind. Last Thursday we closed on the sale of our longtime home in Wanamassa and later that afternoon we purchased our new home nearby in the Colonial Terrace section of Ocean Township. I can say with 100% certainty that a double closing is not for the faint of heart. I can also say without a shadow of a doubt that this will be the biggest learning experience of my real estate career. I will have much more empathy for bot

When the COVID-19 pandemic hit a little over two years ago I do not know of one person in the real estate industry who would have predicted what we have seen since that time. As almost anyone with any knowledge of the industry knows, prices have soared over the last couple of years. It has been a long, strong sellers market with low inventory levels, high buyer demand caused in part by the pandemic and historically low mortgage rates. But I can see from my first hand experien

From a local’s perspective, there is always a change of atmosphere on the Jersey Shore after Memorial Day weekend. There’s more of everything, good and bad. There are definitely more fun things to do, but there’s more congestion (people and traffic) too. To really enjoy it you need to learn to take things in stride. Accept that it’s going to take a little longer to get from point A to point B. Accept that the lines at the supermarket, and every other store for that matter, wi

This past weekend was Father’s Day. I tell my son as frequently as possible, “the best thing I have ever done in my whole life was to be your Dad.” There is nothing that makes me prouder than being a father to my son and a husband to my wife. I am far from perfect (as they will both attest to) but I always try my best. Sometimes I lose my cool.

Today I had the second of three open houses at my newest listing. What made this listing unique was that it was my own home. ​ A home I have lived in for over 22 years. That my wife has lived in for the last 13+ years. It’s also the only home my soon to be 8-year-old son has ever known in his lifetime. Clearly we have many emotional ties to the property. Our son is aware of the fact that we’re selling our home and planning to move to another home nearby that we’re under cont

In September of 1999 I was living with a friend in a rental property in Fanwood, NJ. There was a creek that ran alongside the house and the first floor of the home, which included my bedroom, was flooded during a big storm. I lost my childhood albums/music collection. Everything else could be replaced.

My new website, scotthobbsrealtor.com, is live! ​ I’ve wanted to launch a website for my business since I started as a realtor more than 5 years ago. But since I was going to put my name on it, it had to be more than just a landing page. That’s the biggest reason I’ve waited until now. ‘scotthobbsrealtor.com’ will feature my blog with regular updates, featured listings and video posts with market updates, buyer and seller tips as well as other topical real estate content an

Today I met with a longtime friend who told me he’d like to discuss selling his home. He also told me he was considering selling it himself, For Sale By Owner (FSBO). In the real estate world we refer to these as ‘fiz-bo’s’. The first thing I told him when we met was that if he was going to sell that he would be leaving money on the table if he decided to list it himself. He had many people chirping in his ear about how “anyone could sell a home in today’s real estate market

In my time as a realtor I have learned a lot, but one thing that has become very apparent to me is that clients, whether they are buyers or sellers, want to work with someone that they have a personal connection with. Anyone who knows me is aware that I am a straight shooter and very forthcoming. I pride myself on being a professional and fulfilling my fiduciary duty of putting my clients’ needs above my own is a hallmark of my real estate business. As I say to many prospec

In my time as a realtor I have learned a lot, but one thing that has become very apparent to me is that clients, whether they are buyers...