September 2022 Real Estate Newsletter 

Moving to a different area of the state, country, or even
an international move? I belong to the broker national
referral group and can help you locate a Realtor in the
area of your choice. 

 

Valley View Woods
Hackettstown, Warren County NJ

 
October Special Days 

October 3 National Techies Day
October 4 National Golf Lovers Day
October 6 National Orange Wine Day
October 7 Kids Music Day
October 10 Columbus Day
October 13  National Navy Birthday
October 26 National Pumpkin Day
October 27 National American Beer Day
October 31 Halloween
   


August Housing Stats

Click To view local Monthly Housing Stats 2016 - 2022
 

Market Absorption Rate 
See each county below. 
Seller's Market

Normal Market

Buyer's Market

 
1
 2 3 4 5 6 7 8 9 10
An  Absorption Rate  of 7 or higher is a Buyer's Market
Bergen County
Absorption Rate =   1.95  
Seller's Market
New Listings: 888
Sold Listings: 940
Average Sale Price: $721,170
Average Days On Market: 37
Essex County
Absorption Rate =    1.09 
Seller's Market
New Listings: 495
Sold Listings: 590
Average Sale Price: $ 740,884
Average Days On Market:  
Passaic County
Absorption Rate =   2.61 
Seller's Market
     New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:

 312
 345
$498,799
 29
Morris County
Absorption Rate =   2.43 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:

 539
 688
$669,468
 25
Sussex County
Absorption Rate =   3.0 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:

 270
 247
$417,683 
 33

 New Jersey Real Estate

Public State and County Reports

State of the State

Largest Property Tax Relief in NJ History

 

Gov. Murphy announced residents can now apply for the Affordable NJ Communities for Homeowners and Renters program, ANCHOR.

 

Homeowners and renters are eligible if they occupied their primary residence on Oct. 1, 2019, and either filed or are exempt from NJ income taxes. Homeowners can receive up to $1,500 in relief and renters can receive up to $450. The deadline to file is Dec. 30, 2022. 
LEARN MORE HERE
 

Zig Ziglar Quotes

“If you go looking for a friend, you’re going to find they’re scarce. If you go out to be a friend, you’ll find them everywhere.”

Fall maintenance tips for homeowners:

  • Check your home for water leaks.

  • Have a heating professional check your heating system every year.
  • Protect your home from frozen pipes.
  • Test your emergency generator.
  • Have a certified chimney sweep inspect and clean the flues and check your fireplace damper.
  • Remove any birds’ nests from chimney flues and outdoor electrical fixtures.
  • Clean off the covers and change the batteries in the smoke and carbon monoxide detectors/alarms.
  • Blow out your lawn irrigation system.
  • Make sure that the caulking or weather-stripping around the windows and doors is adequate in order to keep down your heating and cooling costs.
  • Make sure that the caulking around your bathroom fixtures is adequate to prevent water from seeping into the sub-flooring.
  • Run all gas-powered lawn equipment until the fuel is gone.

 

SmartHome Inspections LLC

https://smarthomeinspections.net

vin@smarthomeinspections.net

201.600.7763

Questions You Should Ask Before Moving and Starting Your New At-Home Business
Starting an at-home business is a major venture. To make it successful, you need to ensure you have the space to support operations. Sometimes that means you have to move. Before you take that step, consider these questions and evaluate your situation to find the perfect space for your work and personal life.

 

Housing Starts Rebound, Builders Aim to Win Buyers Back

Despite an unexpected jump in new construction in September, demand for new homes is falling due to high prices and mortgage rates. Builders are lowering their asks to boost buyer traffic.
 

Make sure your business is well taken care of
If you’re going to be traveling between homes often, it’s essential to make sure your business is in good hands.

Experts: Buyers Should Shop Around for a Mortgage as Rates Rise

Borrowers stand to save thousands by gathering multiple quotes from lenders.
9/8/2022 12:00:00 AM

If borrowing costs get just a little higher, the average household may be blocked from homeownership, warns an NAR economist.
9/1/2022 12:00:00 AM

One in five reported reducing their prices in the past month to increase sales and limit contract cancellations. But a better outlook may be on the horizon, says NAR Chief Economist Lawrence Yun.
8/15/2022 12:00:00 AM

 

Considering Building an Extreme Backyard?
Do you have a love for extreme sports, but you’d rather indulge in your favorite pastime somewhere more private? If you have the space...

Economist: Mortgage Rates Hurt Buyers More Than Home Prices

As the average for a 30-year loan rises again, an NAR researcher says higher borrowing costs have triple the impact on monthly mortgage payments.
8/25/2022 12:00:00 AM

They admit hiding a known issue with the home, which is against the law in most states. These are the 13 most common problems buyers find after closing a transaction.
8/25/2022 12:00:00 AM

Multi-State Living for Business Owners: Handy Tips

You may be a business owner who needs to keep moving from state to state for work, and you may
own two (or more) homes in different cities or states. Moving around periodically and having to 
reacclimatize to a different home can be a challenge – and you likely have to do it without disrupting 
your business.
 

Is Independent Living the Right Choice for You?
Recent research shows that 77% of adults 50 and over want to remain in their current homes. However, that isn't always the best choice in retirement. Independent living communities can provide a healthier environment for seniors that offer a vibrant life among peers instead of isolation. Here are some factors to consider to determine if independent living is right for you.
 

7 Reasons Allendale Is the Perfect Place for Entrepreneurs

Where you live plays a huge role in your quality of life, the happiness of your family, and the sustainability of your business. If you want to increase all of these, you may consider a move to Allendale. According to research, most people who move away from New Jersey do so for a job, but it can be a great place to jumpstart your entrepreneurial dreams.

To view all currently available homes for sale or rent click here.

3 Best Practices for Being a Multi-State Homeowner With a Pet

Whether you have a cat, dog, or pet turtle, if you own homes in both New Jersey and Florida, there are a few best practices you should follow to make sure your pet is happy and healthy.

 

Can You Put an Offer on a House That’s Contingent?

Once you find your dream home and it happens to be marked as contingent, you can still place an offer. Here’s all you should know about contingent sales as a potential home buyer. Contingent meaning. Real estate listings go through different stages.

RIS MEDIA
State News...
State of New Jersey

NJ COVID-19 Updates and More

Want to know about current topics in New Jersey today? The State of New Jersey Update features information, news, and resources, as well as guidance for COVID-19 and more. Additional featured news is also available at NJ.gov.
National News...

Interactive Median Home Price Map

Read More..

Helpful Real Estate Articles

Buying Your New Home

Selling Your Home

Home Maintenance

Condo/Townhome Tips

Seniors 55+

Smart Homes and Features

Do Not Pay Too Much for Your Home

Make Yourself Scarce

Moving and Relocation

NJ School Reports

Your First Home

 

Average Days On Market
Below are my figures for
Northern New Jersey:

County

 April
2016		 August
2022
Bergen County  90  37
Essex County   84  28
Morris County 83 25
Passaic County 99  29
Sussex County 120 35

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions.

·  Always personally verify wire instructions.

·  Use only phone numbers that have called before or can otherwise verify are legitimate.

·  Be very suspicious of emails and phone calls with purportedly updated, revised or corrected wiring instructions. It is extremely rare that a lawyer or title agent will change wire instructions during the course of a transaction.


 E-Mail

 Emil Ratti
Sales Associate
Certified New Home Specialist
Residential Construction Certified
Senior Real Estate Specialist

www.BCNJRE.com
www.NJCondoTownHomes.com		 Coldwell Banker | LinkedIn
Coldwell Banker
Realty

NJCondoTownhomes.com
 Luxury Homes NJ Multiple Listing Service Free Market Analysis   Helpful Buying/Selling Tips Mortgage Calculator
 

 

 REALTOR® -- A Registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS ® and subscribes to its strict Code of Ethics. Inquiries regarding the Code of Ethics should be directed to the board in which a REALTOR® holds membership.