blog • ERA Justin Realty • NJ • real estate • Rutherford • August 11, 2011

Rather Than Sitting on the Fence …Why Not Own It?

by Jennifer Darby Metzger

ERA Justin Realtor professionals always join together with training to stay on the cutting-edge of customer and client needs. Their focus in a continuing changing real estate market is to have the knowledge to better educate and to better serve the communities in their real estate sales.

ERA Justin Realty Offers Market Insights:

Rather Than Sitting on the Fence …Why Not Own It?

ERA Justin Realty, a leading real estate brokerage serving Bergen, Passaic, Essex and Hudson counties, has never witnessed real estate market conditions quite like what we are experiencing today. Ron Darby Broker Co-owner offers the following insights for consumers considering buying a home.

Homes are More Affordable – Current housing prices are down 27% on average across the nation from peak values five years ago aaccording to the Freddie Mac House Price Index (June 2006 to March 2011)^, and the national housing affordability index continues to hover at record levels.

Rates are Low – At 4.6%, 30-year fixed mortgage interest rates remain near historical lows, based on an average 30-year fixed mortgage rate as shown in the Primary Mortgage Market Surveydata according to Freddie Mac as of July 7, 2011.

Timing is Everything – For qualified buyers, this is the time to buy. According to reports, conforming loan limits will be changing which will decrease the availability and affordability of mortgage credit for many home buyers in 42 states, based on new loan limits published by FHFA and HUD.

Homeownership is Still the American Dream – Nearly nine in ten Americans say homeownership is an important part of the American Dream, according to a New York Times/CBS News poll, conducted June 24-28, 2011.

Financing is Available – Today’s borrower needs to have stable employment and sufficient income to cover the monthly mortgage payment and living expenses; adequate savings to make at least a 3.5% down payment; and, in general, a credit score of at least 620. If you meet these basic requirements and plan to live in the home, you may be well on your way. Note: FHA requires a minimum 3.5% down payment; conventional mortgages will require a down payment of 5% or more. FICO score minimums may be higher or lower depending on loan type, income history, property type and other factors.

“For qualified buyers, now may well be the time to make your move,” said Darby. “If a home purchase is in your future plans, I would encourage you to talk to one of our Realtor professionals because now may be the time for you to act. There is ample inventory on the market for you to capture that “dream” home you have always wanted at a price and terms you can handle.

“But don’t wait too long, because mortgage rates and home prices won’t stay this low forever. Find your perfect home along with a mortgage that meets your needs with the help of our outstanding affiliated sales professionals.”

ERA Justin Realty has received the prestigious 2003 through 2010 ERA ‘Commitment to Excellence’ Award from all across the ERA nation. For these reasons ERA Justin Realty should be your buying and selling Realtor of choice.

All of the ERA Justin Realtors can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue, by office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Also view 1000’s of homes at their websites at www.ERAJustin.com and http://www.erajustinrealty.com/.

buy a house • foreclosure • houses for sale • SFO • Short Sales • July 29, 2011

The National Association of Realtors helps make short work of short sales.

by Jennifer Darby Metzger

ERA Justin Realty serving Bergen, Passaic, Essex and Hudson counties is pleased to announce that Monir (Matt) Hanna, Jennifer Darby Metzger, Carol Calamari, Adrian Tridel, Glenn Elliot and Fara Espandi have taken the required training and have earned the Short Sale and Foreclosure Resource (SFR) certification being processed through the National Association of Realtors.

The National Association of Realtors helps make short work of short sales.

Possibly one-third of all existing homes sold recently were either short sales or foreclosures, according to National Association of Realtors data. To help Realtors meet the needs of home buyers and sellers who need these services, NAR has launched the Short Sales and Foreclosure Certification Program (SFR).

“Foreclosures and short sales can offer opportunities for home buyers, but it’s extremely important to have the help of a real estate professional like a Realtor® for these kinds of purchases,” said NAR President Charles McMillan, “Realtors add value to the real estate transaction with their extensive knowledge and market insights, and this certification will help them serve a growing need.”

According to media reports, it is highly recommended by lenders, the US Treasury department and others that if you are going to have to do a short sale on your property that you may want to use agents who have taken training or received a designation. Experience and patience is required in successfully negotiating short sales.

By adding the SFR specialty to their business, they have acquired the professional training necessary to assist clients and customers with the sale or purchase of distressed properties. The SFR program trains sales associates in guiding their clients through short sale and foreclosure opportunities and directing them to finance, tax and legal professionals. As an SFR professional, they further assist in qualifying sellers for short sales, developing a short sale package, negotiating with lenders, tapping into buyer demand, limiting risk, and protecting buyers.

“There is a difference in real estate companies,” stated broker co-owner Jennifer Darby Metzger. “Being part of the SFR certification process, we believe, is in order to exceed buyer and seller expectations of what ERA Justin Realty is about. In that way, we hope we are held in the highest regard. Our buyers and sellers have put their thoughts in writing about their past transactions. We have on file for the asking, ‘What people are saying’ our report of over 700 quotes and testimonials from them. No other area real estate firm can offer that. Are we proud? Absolutely!”

ERA Justin Realty has also received the prestigious 2003 through 2010 ERA ‘Commitment to Excellence’ Award from all across the ERA nation. For these reasons ERA Justin Realty should be your buying and selling Realtor of choice.

All of the ERA Justin Realty full service SFR certification recipients can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue, by office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Also view 1000’s of homes at their websites at www.ERAJustin.com and http://www.erajustinrealty.com/.

Uncategorized • July 26, 2011

Smart Sellers Think Like Buyers in Current Housing Market

by Jennifer Darby Metzger

Ron Darby, ERA Justin Realty Broker-of-Record has been a strong influence on the area real estate industry for the past 44 years. Beginning his career as sales manager for K Realty Co., he advanced and has led the way for ERA Justin Realty’s many successes since 1980. The firm consistently is an ERA Top-100 firm nationwide in listings and sales. With Jennifer Darby Metzger they co-chair ERA Muscular Dystrophy fundraising efforts in New Jersey and attend the NASDAQ closing bell ceremonies on MDA day. Darby offers the following report for sellers in the current 2011 real estate market.

Smart Sellers Think Like Buyers in Current Housing Market

There are qualified homebuyers intent on buying while they can still lock in a low mortgage rate. So, the summer and fall 2011 housing market should continue to present good opportunities for sellers who understand how to maximize profit in this new selling environment. The first step is to start thinking like a buyer, not a seller. Although buyers are anxious to buy before rates rise, they know that they can select one of possibly dozens of houses on the market, meeting their criteria.

Ron Darby, ERA Justin Realty Broker Co-owner stated, “As reported in the press, when the market is rising quickly, buyers are less concerned about overpaying because they’re sure they’ll recoup the excess payment within a short time because of robust appreciation. This was the psychology of the past. Now, buyers are much more concerned about value. For this reason, pricing is more important than ever, as is property condition. Buyers are less forgiving of defects. So, ideally, you should fix defects before you put your house on the market.

Listings are most salable when they’re new on the market. To maximize your opportunities, your house not only needs to be priced right and properly prepared for sale, you also need a comprehensive marketing plan. You want to make sure that information about your listing reaches as many potential buyers as possible. We provide all of this information for our sellers.”

The ERA Justin Realtor professionals are proactive in advising potential sellers with comprehensive information when reviewing the sale of their house. They provide you with a marketing plan with samples of the marketing materials that will be used to promote your house, as well as strong Internet exposure. As reported, 90 percent of today’s homebuyers start their house search on the Internet and ERA Justin Realty promotes its listings on over 50 local, regional and national websites. Two such Internet websites to search 1000’s of houses include www.ERAJustin.com and www.ERAJustinRealty.com.

Darby continued, “A listing on the Internet isn’t enough, though. Buyers don’t look at listings that don’t have photos. You can gain an edge on the competition if multiple photos and a video tour of your house is on the Internet as soon as your house is opened to the market. It’s important to have a good working relationship with your Realtor professional. For these reasons, lists of sellers who had positive experiences buying their house through our firm then decide to list with our Realtor who represented them as buyers. Selling through an outside area discount brokerage firm may result in a lower sale price, inadequate marketing with little knowledge of the area markets.

Your aim is to sell for the highest price possible, yet presenting your house to the market properly priced. Some sellers think it’s a good idea to list at a price that’s way under market value to generate a bidding contest and send the price higher. Be realistic and hope for multiple offers, always keeping in mind that overpriced listings won’t sell. Your house is in daily competition with many similar houses on the market at any given time.

Our ERA Justin Realtor professionals who are active in your area will be able to advise you about an effective list price for your home. We offer our Comparative Market Analysis (CMA), a comprehensive study of your house in comparison with others that are on the market, that have sold, that have expired, as well as the 2011 market update. It’s offered at no cost or obligation simply by phoning our office.”

ERA Justin Realty proudly received the prestigious ERA 2003 through 2010 Commitment to Excellence Award, from all across the ERA nation. For these reasons ERA Justin Realty should be your buying and selling Realtor of choice. Their professional staff can be reached at either of their two Rutherford offices at

118 Jackson Avenue

and

57 Park Avenue

, by office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD.

Uncategorized • July 21, 2011

SMART UPDATING YOUR HOUSE, AN ERA JUSTIN REALTY REPORT

by Jennifer Darby Metzger

ERA Justin Realtor professional Glenn Elliot shares a report on smart updating your house before a sale. Decades of real estate experience throughout Bergen, Passaic, Essex and Hudson Counties continues to put Glenn in the forefront of real estate successes.

SMART UPDATING YOUR HOUSE, AN ERA JUSTIN REALTY REPORT

Keeping your home updated is sound advice. By making improvements along the way, you get the benefit and when it’s time to sell, there’s less to do. But how do you go about making decisions on what to purchase?

According to ERA Justin Realtor professional Glenn Elliot, “If you don’t want to end up with the current equivalent of avocado appliances and brown shag carpet, you’ll need to choose wisely. What may seem up-to-the-minute style-wise could end up costing you in the long run. Kitchen and bath improvements can be expensive, so home buyers would want to deduct that cost if your home seems outdated.

The variety of products available to homeowners is endless. And it’s easy to quickly choose an item that looks perfect, only to find it doesn’t look so stylish a few years later. So, think in practical terms when investing your improvement dollars.

Your kitchen may look crisp and clean without any overhead cabinetry, but you will need storage space for your dishes. So, take that need into consideration during the planning stage.

Go for a timeless, classic design when choosing major items and, if in doubt, think simplicity. Quality granite, ceramic tile and white fixtures will never go out of style. You can then add accents that are easily changed out without breaking the bank.

Important improvements include good lighting, quality surfaces, plenty of storage and a floor plan that accommodates your needs. Prioritize your requirements and wishes to get an individualized look without being too trendy. It’s a good idea to work with a designer, usually offered by retailers at no charge, to optimize your dollars, but be very specific about what you need and expect and what your budget will stand. When it’s time to sell, you’ll know you’ve made the right decisions and so will your grateful buyer.”

Glenn continued, “Truly, there is a difference in real estate companies and our 700 testimonials from our buyers and sellers are examples of what we do each day. We ask buyers and sellers to compare. We believe that in order to exceed expectations of what our Realtor professionals are about, we don’t offer just real estate basics, we try to be as comprehensive as possible. In that way, we know that our buyers and sellers will hold us all in the highest regard.”

ERA Justin Realty proudly received the prestigious ERA world-wide 2003 through 2010 ‘Commitment to Excellence Award’. Only outstanding ERA firms are honored and receive it. For these reasons ERA Justin Realty should be your buying and selling Realtor of choice.

The ERA Justin Realty full service real estate consultants can be reached at either of their two Rutherford offices at

118 Jackson Avenue

and

57 Park Avenue

. By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Also view 1000’s of homes at their websites at www.ERAJustin.com and www.ERAJustinRealty.com .

camp • ERA Justin Realty • MDA • July 7, 2011

ERA Justin Realty Works Toward MDA Summer Camp Success for Kids

by Jennifer Darby Metzger

All for fun for a serious cause, ERA Justin Realtor business owners Jennifer Darby Metzger, Ron Darby and Carol Darby were locked-up for MDA at the recent MDA Lock-Up luncheon attended by area business leaders, ERA Justin Realtors and kids with Muscular Dystrophy. Chauffeured with the cooperation of area police departments many business owners were brought to the lock-up luncheon in police cars until they reached their fundraising goals.

ERA Justin Realty Works Toward MDA Summer Camp Success for Kids

ERA Justin Realty works each year to send as many children with Muscular Dystrophy to area summer camp for some fun in the sun while their health permits.

ERA New Jersey’s top fundraising real estate office and its owners Ron Darby, Jennifer Metzger Darby and Carol Darby were recently informed that the firm will be inducted into the ERA-MDA President’s Club, with honors shared only by organizations with year-long focus for Jerry’s kids and the Summer Camp for Kids program while reaching fundraising criteria.

ERA Justin Realty recently participated with other business leaders in the Muscular Dystrophy Summer Camp for Kids fundraiser. All in fun, they were swept away and locked-up until they reached their fundraising goal for the kids. ERA Justin Realty, with the help of their staff of Realtor Agents will meet their 2011 goal of $7,000 for the MDA kids summer camp program.

Ron Darby, chairman for all of the ERA offices throughout New Jersey with his staff of Realtors is coordinating the statewide effort and with the cooperation of other ERA offices over past years have collectively raised over $100,000., presented at the MDA Labor Day Telethon by ERA Justin Realty to recording star Tony Orlando.

Jennifer Darby Metzger of ERA Justin Realty said, “We are asking for area residents to help continue these goals for our MDA kids, whose health may permit them to be part of summer camp this year, but they may not be able to attend in future years. Each year MDA supports some 90-summer camps across the country. Whether in Alaska or Hawaii, in California or New Jersey, at MDA camp barriers simply don’t exist. A child with a disability can just be a child among friends. MDA camp is a magical place offering a wide range of activities specially designed for young people who have limited mobility or use wheelchairs. MDA camp programs, although structured, are conducted in a relaxed atmosphere that gives campers an unmatched opportunity to develop lifelong friendships, share interests and build self-confidence. Activities range from outdoor sports such as swimming, boating, baseball and horseback riding to less physically demanding programs like arts and crafts and talent shows. Thousands of youngsters attend MDA camp each year at no cost to their families.”

Be a volunteer or a sponsor by sending your tax deductible check made payable to MDA and mail it to MDA c/o ERA Justin Realty Co., 118 Jackson Avenue, Rutherford, New Jersey 07070. If you have questions on this great program for the kids call (201) 939-7500.

To review more about ERA Justin Realty MDA fundraising, simply go to their website at www.ERAJustin.com and click on MDA efforts.

Uncategorized • June 28, 2011

ERA Justin Reports On Recommended Work Before Selling

by Jennifer Darby Metzger

Carol Calamari, ERA Justin Realtor professional serves her buyers, sellers and the real estate industry as one of the firm’s full-time agents. Proficient in innovative marketing of her listings and having been selected by one of the nations leading referral-relocation services, she presently is representing sellers of Fortune-500 firms.

ERA Justin Reports On Recommended Work Before Selling

In this 2011 real estate market, no one wants last minute surprises. For these reasons, many sellers often order pre-sale inspection reports. Based on results sellers then determine how much, if any, of the recommended work should be done before selling. To maximize your return from the sale, you should considering repairing defects that adversely the property as it may create a negotiation discussion during the sale process.

Carol Calamari, ERA Justin Realtor professional offers, “First impressions are important. So, if the fence or entry porch is rotted and look shabby, repair them. If the exterior paint is peeling, repaint as necessary. You get positive results when you repair a defect and improve appearance. Sellers must be aware that there is an abundance of housing inventory on the market and each seller is in competition with every other seller. It is difficult to have a second chance to make a great first impression.

You certainly can’t be expected to rebuild your house in order to sell it. When structural elements are in need of repair and you haven’t the time or money to repair them, it’s a good idea to get repair estimates and make these estimates available to prospective buyers during the offer process. This way, you’re in control of the process and can find reliable contractors or engineers who will give you reasonable and not exorbitant estimates.

It can be unsettling to a buyer to discover that the roof is in poor condition or the foundation needs work. Most buyers will have no idea how much it will cost to make repairs. Fear of the unknown makes people anxious, which isn’t a good frame of mind for someone who’s trying to decide whether to buy your home.”

Ron Darby Broker added, “At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase. We offer value suggestions to our areas buyers and sellers. We live it every day. Because of our daily priorities, we proudly received the prestigious ERA worldwide 2003-2010 ‘Commitment to Excellence Award.’ Only outstanding business entities are honored and receive it. For these reasons ERA Justin Realty should be your buying and selling Realtor of choice. We have served thousands of buyers and sellers since opening our doors in 1950.”

All of the ERA Justin Realty full service Realtor professionals can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue. By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Additional cutting-edge real estate technology, their featured and 1000’s of MLS listings and other information awaits you at www.ERAJustin.com and www.ERAJustinRealty.com.

Uncategorized • June 26, 2011

2011 ERA Justin Realty Little League Softball Champions

by Jennifer Darby Metzger

On June 15th, with a winning score of 12-6, the ERA Justin Realty team became the first Rutherford Little League Softball Major Division Champions ever, under the combined Rutherford Little League and Rutherford Recreation program.

In early spring 2011, ERA Justin Realty was approached and asked if they would like to be a sponsor of a Rutherford Little League girls softball team. Without hesitation the answer was a resounding yes.

Broker Ron Darby said, “Our answer was an enthusiastic yes. Little League girls softball was long overdue as there had never been girls little league in Rutherford. This was to be the start of something wonderful for our town. And at the end of the first season it has been proven to be a big success with many wonderful girls Little League teams sponsored by many of our outstanding area business leaders. ERA Justin Realty’s girls Little League was on its way, our team was formed, their uniforms were delivered and the excitement began as the team took part in the Little League parade and won their first game.”

Ron Darby with co-owners Jennifer Darby Metzger and Carol Darby and their ERA Justin team of real estate agents have offered strong thanks to the Rutherford Little League, Rutherford Recreation Department, and the Softball Committee for their effort in making this a successful season for all of the Little League players.

Jennifer and Carol added, “Our coaching staff is very proud of how well the girls played and their show of true team effort throughout the season while having fun. At the Championship presentation at the field, our team presented us with a framed team photo which will have an honored place at our offices.”

Ron concluded, “At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase. We believe strongly in community and our sponsorship of the team is exceptionally rewarding. Because of our support of community activities and our charitable contributions we proudly received the prestigious ERA worldwide 2003-2010 Commitment to Excellence Award.”

Readers who would like to add their congratulations can direct them to ERA Justin Realty at 118 Jackson Avenue and 57 Park Avenue. By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. More about the team can be viewed at http://www.erajustin.com/ in community news.

Uncategorized • May 24, 2011

ERA Justin Realty Report, “Find it, negotiate it, and buy it”

by Jennifer Darby Metzger

Find it, negotiate it, and buy it. Important advice for buyers in today’s real estate market, suggested by Jennifer Darby Metzger who has been a focused broker business co-owner of ERA Justin Realty for many years. Her approach to her buyers and sellers has made her a Realtor of choice to hundreds as she continues to focus on buyers and sellers throughout Bergen, Passaic, Essex and Hudson counties.

ERA Justin Realty Report, “Find it, negotiate it, and buy it”

Jennifer Darby Metzger, ERA Justin Realty Broker Co-owner explains,

“There is a expanded group of motivated sellers who have priced their houses correctly to the market so it may be the first one to sell. There is also an expanded group of buyers who want to buy, but many err by not buying the house they find that meets their needs, because they feel that a better one may be just around the bend. This, time and time again works against these buyers. Strong market demands for a properly priced house, low mortgage interest rates and being in competition with many other buyers may not give them a chance to return to that perfect purchase as it might be gone within a day or so. They then continue their quest, unsuccessfully comparing all others to the house they might have purchased, but lost to another buyer.

When quality features, affordable pricing, location and other amenities all come together, don’t hesitate. When a prime listing comes on the market, there is usually more than one buyer making offers. Consider yourself lucky if you find your dream house, or close to it, early on in your house search. It’s usually better to be first than sorry. Don’t skip this great listing just because you found it quickly. There will be a comfort level of value, as your lender will be making a detailed appraisal of value before finalizing a mortgage commitment for you. New underwriting guidelines require that the lender’s appraiser provide comparable sales information for the past three months. Now, lenders’ underwriters are sensitive to the state of the local market in question. This will increase your comfort level.

As you go through the buying process with one of our ERA Justin Realtor professionals, we will provide you with comparable sales information. You’ll learn about current listings in the neighborhood that are similar in size and condition, as well as the most recently sold listings.”

“At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase. We live it every day. Because of our daily priorities, we proudly received the prestigious ERA worldwide 2003 through 2010 ‘Commitment to Excellence Award.’ For these reasons ERA Justin Realty has been selected by thousands of buyers and sellers as their Realtor of choice during our 61 years in business,” concluded Jennifer.

All of the ERA Justin Realty full service sales professionals can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue. By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Additional cutting-edge real estate technology and information awaits you at http://www.erajustin.com/ and www.ERAJustinRealty.com.

Uncategorized • May 20, 2011

ERA JUSTIN REALTY AGENTS HOLD YARD SALE TO SEND YOUNGSTERS TO MDA SUMMER CAMP

by Jennifer Darby Metzger

Supportive residents came out to support the Muscular Dystrophy yard sale coordinated by ERA Justin Realtor professional Fara Espandi. A bit of this and a bit of that added to a successful fundraising day for the MDA kids summer camp program. Pictured is the ERA Justin Realtor team, Cathy Vick, Carol Calamari, Adrian Tridel, Fara Espandi and Realtor-in-training, Logan Tridel. Not pictured, Kevin Jurik.

ERA JUSTIN REALTY AGENTS HOLD YARD SALE TO

SEND YOUNGSTERS TO MDA SUMMER CAMP

Since 1955, MDA has built bridges and knocked down barriers for youngsters with neuromuscular diseases by providing an unforgettable week at MDA summer camp, largely in part this year through the efforts of Fara Espandi who coordinated a yard sale with the help of Adrian Tridel, Cathy Vick, Carol Calamari and Kevin Jurik, who plan to visit the MDA Summer Camp on VIP day to be with the kids.

Fara Espandi, a Realtor professional with ERA Justin Realty said, “It has been the focus of our entire staff of agents to raise tax deductible donations to send as many children to MDA summer camp as possible. Besides our yard sale, we reach out to all of the business firms and individuals we transact business with throughout the year to send in their donations large and small. Donations are pooled in an effort to send children to the tri-state MDA summer. In the past, we had focused on raising funds for MDA research, but we now focus to give these children an immediate positive experience. Due to the untiring efforts of our staff and those who donate, the MDA youngsters will enjoy fun in the country in a structured environment. We hope to exceed our past regional totals with our broker Ron Darby who is the ERA chairman for MDA New Jersey. With the help of my teammates, I hope to be the 2011 Labor Day MDA Telethon presenter and ERA phone bank coordinator at the Telethon television studios.”

Adrian Tridel, added, “Each year MDA supports some 90 summer camps across the country. Whether in Alaska or Hawaii, in California or New Jersey, at MDA camp barriers simply don’t exist. A child with a disability can just be a child among friends. MDA camp is a magical place offering a wide range of activities specially designed for young people who have limited mobility or use wheelchairs. MDA camp programs, although structured, are conducted in a relaxed atmosphere that gives campers an unmatched opportunity to develop lifelong friendships, share interests and build self-confidence. Activities range from outdoor sports such as swimming, boating, baseball and horseback riding to less physically demanding programs like arts and crafts and talent shows.”

“Thousands of youngsters attend MDA camp each year at no cost to their families. Be a volunteer or a sponsor by sending your tax deductible check made payable to MDA and mail it to MDA c/o ERA Justin Realty Co., 118 Jackson Avenue, Rutherford, New Jersey 07070 for our MDA Summer Camp fundraising activities. If you have questions on this great program for the kids, call us at (201) 939-7500,” stated Cathy Vick.

Uncategorized • May 19, 2011

ERA JUSTIN REALTY REVIEWS BEST DOLLAR-FOR-DOLLAR IMPROVEMENT RETURNS

by Jennifer Darby Metzger

Carol Darby, ERA Justin Broker Co-owner shares market insights about home renovations for sellers. Due diligence should be considered prior to beginning major renovations. The firm is known for their listing and sales activity throughout Bergen, Passaic, Essex and Hudson counties.

ERA JUSTIN REALTY REVIEWS BEST DOLLAR-FOR-DOLLAR IMPROVEMENT RETURNS

“It would be nice if you could count on getting one dollar back when you sell your house for each dollar you invested in renovations. In reality, many improvements return less than the amount invested.

For example, in a past Cost Versus Value Report, published by the National Association of Realtors, as reported by Inman News, nationally, the average percent recouped on a bathroom remodel was 90.1 percent. It was 88.1 percent for a deck addition, 81.2 percent for a family room addition, and 79.4 percent for a major kitchen remodel. In the current real estate market, the ability to recoup large investments will be modified even more.

Does this mean that remodeling is a waste of your time and money? No, but it’s important to do due diligence investigations before embarking on a remodel project. There are many variables to consider,” explained Carol Darby, Broker Co-owner of ERA Justin Realty Co.

Ron Darby, Broker Co-owner added, “First, consider that the figures quoted were national averages. The amount recouped on a remodel depends in large part on where you live and market sales in your area. The return on a remodeling investment will also depend on the value of your home, particularly in relationship to the value of homes in your neighborhood that have sold and closed. It’s important to keep costs in line so that you don’t end up over-improving your home for the neighborhood. Current market conditions dictate that buyers discount a home that’s priced above the value of other homes in the neighborhood. Before remodeling, it’s also important to consider your competition. In some areas, certain remodeling projects are taken for granted. For instance, if you’re in an upscale neighborhood of older homes where most homeowners have remodeled their kitchen and bathrooms, you may be penalized price-wise by the market if your home is outdated. With this in mind, you’re more likely to recoup your investment over the long term. This factor is often referred to as pride of ownership. And, don’t discount the value of creature comfort, a certain sense of well being to be derived from a home that suits your lifestyle. Despite these factors, from an investment standpoint, it makes sense to consider resale value before making an investment in a major renovation. If you’re aim is to recoup as much of your investment as possible, it’s wise to consider home buyer preferences in your area. If your remodeling is not in tune with what buyers want, it could actually decrease the value of your home. Also keep in mind that while trends change, quality and good taste are timeless. The NAR Cost Versus Value Report was based on professional judgment rather than on actual sales data. Therefore, the report is somewhat subjective. However, it does point out the importance of carefully considering before remodeling.

At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase. We live it every day. Because of our daily priorities, we proudly received the prestigious ERA worldwide 2003 through 2010 ‘Commitment to Excellence Award.’ For these reasons ERA Justin Realty has been selected by thousands of buyers and sellers as their Realtor of choice, during our 61 years in business.”

All of the ERA Justin Realty full service sales professionals can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue. By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Additional cutting-edge real estate technology also information awaits you at www.ERAJustin.com and www.ERAJustinRealty.com.

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