Realty 33, Inc
REALTY 33 BLOG
TIPS FOR BUYING & SELLING
AND ALL THINGS REAL ESTATE
Today we learned that Newark has made the short list of 20 cities throughout the country that are still in the running to host Amazon's new Headquarters. A total of 238 applications were submitted from cities throughout North America, 6 of which were from New Jersey. Newark, however, was the only NJ city to be accepted into the 2nd round of the selection process.
Newark's bid came with huge backing from both the State and City. Former Gov. Christie announced in October that the state would make up $5 billion in tax incentives available. The City of Newark also committed to a $2 billion city property tax and wage tax waiver for Amazon to open it's doors here.
Sound like a big commitment? It is. But consider this: Since Amazon was first created in 1994, it has employed more than 40,000 people in Seattle, where it's primary headquarters are located. It has been estimated that Amazon’s investments since 2010 have brought a staggering $38 billion into the city’s economy. This includes $4 billion dollars worth of real estate development and commercial office space that will stand in the city for hundreds of years.
Now, the company plans to invest another $5 billion in development and create up to 50,000 jobs wherever it builds its newest hub. So why not Newark? "There is a story that Amazon could tell about how they were a part of expediting a city’s growth," Mayor Baraka said earlier today. "A city that is like a phoenix in a fire and continues to move forward despite all the obstacles. Amazon gets to come here and expedite that, fashioning and forming a story of a city 50 years in the making.”
Can you image the kind of economic impact of having one of the largest - if not THE largest - company in the world setting up it's HQ right in our backyard? My fingers are crossed!
The Closing date is the most important date of the entire real estate transaction. It is the day in which title is finally conveyed between the previous owner and the new one. After weeks of negotiations and hard work, the last thing anyone wants is for a deal to fall apart at the closing table. That's why we've outlined a few key steps every buyer and seller should take before signing on the dotted line. Following each one of the tips below will help to ensure you have a smooth and successful closing:
1. Take 1 last walk through the home. Ask your realtor to walk the property with you. Bring the repair list with you and make sure all items were addressed. Make sure items that were to be removed were indeed taken out and anything that was supposed to remain behind is still there. Don't wait until the last minute to do the walkthrough, do it the day before closing so you have time to address any issues that might arise.
2. Read paperwork BEFORE the closing. There should be no surprises when you sit down to close the deal. Depending on the type of transaction there may be a lot of paperwork to sift through. There is no need to feel overwhelmed. Request that the attorney, mortgage company, etc send you the preliminary drafts of the closing documents 2 days prior to closing. calmly go through the documents and jot down notes on anything that isn't clear to you, Then consult with your attorney or mortgage rep to get a better understanding on those items.
3. Make sure checks are prepared in advance. Buyers should make sure they know in advance the exact amount needed to bring to closing. Decide ahead of time which form of payment (check, credit card, wire) is best. Sellers should decide ahead of time how they want to receive the proceeds. The bottom line is you want to make sure your money goes where you want it to go at closing.
4. Make sure all contingencies are satisfied. Were all repairs completed? Did someone obtained the municipal fire and certificates of occupancy? Were all of the buyer's mortgage contingencies met? Are there any outstanding judgements, liens, or bills that need to be paid at or before closing? Buyers should consult with their mortgage rep and attorney to tie up any loose ends. Sellers should stay in contact with their attorney and title company to make sure there are no outstanding issues that could delay the sale.
5. Make sure your moving arrangements are flexible. Too many people make the mistake of thinking the closing date is set in stone. Trust me when I say that it is not! Though there are exceptions, in most cases the closing date is a "floating" deadline. The date and time can usually only be confirmed 2-3 days in advance, at best. That's why it's important to have a flexible moving schedule, and to have temporary living arrangements set up if needed. If you are selling, don't wait until the day of closing to move out. Give yourself time to move your personal belongings without the pressure and stress of looming deadlines. Lastly, don't rent a moving van or hire a moving company until the exact date and time has been confirmed by all parties involved.
The closing is the most critical and emotionally charged moment of the real estate transaction. That doesn't mean it has to feel stressful and chaotic. Keep a cool head and these 5 tips in mind to help make sure your next closing is a smooth and successful one!
We wanted to share with you this is promotional video with some amazing drone footage put together by our new digital media specialist.
Realty 33 is committed to being on the cutting edge of technology when it comes to marketing homes for sale. We will include a 1 minute video just like this, (along with a full album of hi-res photos and drone shots) in our marketing package for all future listings. What do you think? Would this be valuable to you if you were selling your home?
Well Maintained 3Br Home - Asking $189,900!
Merry Christmas and Happy Holidays!!
Today we are taking a break from all the festivities to present our newest listing - a well maintained 3 bedroom colonial (with some great updates) in the Vailsburg section of Newark!
This home features a newer roof & windows, hardwood floors, and updated kitchen, large unfinished basement with 1/2 bath, newer vinyl siding, detached garage, and fenced in private yard. Super low taxes only $4,517/year!
Currently asking only $189,900!! Where else are you going to get a move-in ready home for that price? The best part is - there is nothing to do but get the keys and walk in!
For more information on this home or to schedule a showing just call/text 973-506-9866
You have finally decided it's time to sell your home. After meeting with a realtor and determining a list price, your house is ready for the market. But wait! Before you list the property for sale consider making a few improvements that'll help you sell it faster and for more money! Here are 8 tips on things to do before selling your home:
1. Remove all Major Clutter. Take a look at the house and determine how much clutter you need to remove. It’s important to keep in mind that prospective buyers will want to see what the house looks like behind all your stuff. This sometimes means going room to room and clearing everything out so that the whole house appears clean and organized.
2. Neutralize the Home. You may love the native tapestry on your living room wall or your grandmother’s old spoon in the kitchen but most of the time these personalized decorations will not help sell your home. Many home staging companies recommend removing personal photographs and knick knacks and replacing them with neutral items like picture frames or a vase with a simple arrangement.
3. Minor cosmetic work. Once you remove the clutter you will probably notice that some parts of the house are in need of repairs. it’s a good idea to paint where necessary, clean the carpets, repair moldings and trims, and replace cracked or damaged drywall. When making these improvements think neutral colors for any finishings be it paint or carpets. If you have hardwood floors have them sanded and finished. Area rugs can look amazing. Whatever you do, don’t over do it. Keep it simple and clean.
4. Hire a professional cleaner. Once you have the house cleared you should hire a professional cleaning crew to wash the walls, windows, work over the kitchen and bathrooms, clean the floors and shampoo all carpets that don’t need to be replaced. Your house should be spotless and kept this way for the duration.
5. Staging each room. If your rooms are smaller rearrange the furniture to make the room look bigger. For example removing some furniture is better than having too much cramped in. Set your furniture up in a conversation pit style. Make it cozy. Pull couches away from walls to give the appearance of depth.
6. Kitchen and bathrooms. To a buyer, these are often the most important rooms in a home. Make sure yours show really well. Plumbing fixtures should be working properly and look like new. Use a good cleaner or even a metal polish to make them shine. Showers and tubs should to be spotless. Sinks and vanities should to be clean and uncluttered. Kitchen cabinets should be in good working order with all doors opening and closing properly.
7. Doors and windows. It’s all about first impressions. In the case of selling your home, The first thing prospective buyers see when they walk in your home is a door. Make sure its painted or cleaned up and that it will open and close properly. This goes for screen doors as well. Windows should all be cleaned and be sure if someone wants to open them that they work properly. If they have been painted closed, as is the case with some older homes, now is the time to get them opened!
8. Odors and pets. if you’ve ever walked into a house with dogs or cats you know that it’s possible to immediately smell them as soon as you open the door. Therefore it’s important to take extra steps to remove all animal odors from a home you’re preparing to sell. Keep litter boxes fresh and clean daily. If possible, restrict your animals to certain areas of the home until after the sale. If you have more than one cat or dog remember to vacuum often and use carpet cleaners.
I know this sounds like quite a bit of work, and it is! But by following these tips you could easily be adding five to ten thousand dollars to the sale price of your home, not to mention that it will very likely sell faster! When it comes to selling a home, a little elbow grease now could turn out to be a solid investment.
Social media has taken the modern world by storm. People today are more connected than ever before thanks to platforms like Facebook, Twitter, and Instagram. In terms of real estate, this means that many potential homebuyers are starting their home search online. If you are planning on selling your house, you will want to make sure that Internet advertising is part of your marketing plan. Here are just a few examples of how to market on social media.
1. Zillow Listing- Posting on Zillow is an easy way to put your property in front of thousands of potential homebuyers. To do this, just type in the address of your home and click on "owner" tab. Then you can fill in the details about your property such as the price and number of beds and baths. Make sure to write up a nice concise description and use high quality pictures. When you are finished, publish the listing and share it on your favorite social media platforms.
2. Facebook Groups- If you live in a town that has a Facebook group, this can be a great way to reach potential buyers that work or live in the area. Share your Zillow listing or create a post from scratch with a short description and nice pictures of the property. Remember to tell people how to get in contact with you.
3. Facebook Ads- This is a little more advanced and requires some basic understanding of "pay-per-click" advertising works, What you want to do is create an ad that targets potential home buyers that live or work near your home. For the ad you'll want to include a nice picture and a short description with a "call to action". Tell buyers where to go or who to call for more information. Finally, set your daily budget and how often you want the ad delivered. Once the ad is live you can monitor the traffic and feedback using Facebook’s ad management tool.
4. Video- Take a short (less than 5 minute) video of your home and post it online. The video should either be a virtual tour or a slideshow. Make sure to use a good quality camera and keep the video professional. Edit the video to include your name and contact information at the bottom. Then, post it to YouTube with the property address as the title. Once your video is live, link to it on your social media.
5. Hire a Realtor- The tips listed above are just a couple of examples of how you can use social media to market your home for sale. There are many more. Creating and monitoring all of this content can be time consuming. That's why sometimes it's better to leave it to the professionals to do it for you! By now, all good realtors should have added social media to his/her marketing tool belt and know how to use the power of the internet to get more people interested in your property. Look for a realtor that is tech savvy, can adapt, and has a good online presence.
In Northern New Jersey it is common for a home to have an underground storage tank or (UST). A UST is a large tank that holds oil used for heating the home. Some oil tanks are active in homes that use oil as the primary heat source, while others are abandoned or decommissioned in homes that have been converted to gas heat. When an abandoned UST appears on a home inspection, it can be a complicated matter. That’s because there’s always a possibility that the soil underneath and around the tank could be contaminated with oil products. Here are 4 tips to help deal with an oil tank.
1. Tank Sweep - The first step to confirming the presence of a UST is to hire a company that will perform a “sweep “ of the property to detect the tank. If a tank is discovered, they will produce a report describing the approximate size of the tank and it’s location. A tank sweep typically costs $250-$350.
2. Get Permits & Certificates – If an oil tank had been previously decommissioned or removed, there should be a permit or certificate with the town. Buyers should be wary of a seller that mentions the removal of a tank but doesn’t have any permits or town certs to back it up.
3. Soil Test – In instances where a UST is discovered it’s critical to know 2 things: Is there is any oil product still in it and is it leaking? Remember that some UST’s can be 30 or 40 years old. The tanks decay and corrode over time and eventually can leak. If a leak is suspected then environmental company should be hired to take a soil sample and analyze it for possible soil contamination.
4. Sell it As-Is -If a UST is discovered during a real estate transaction in most cases the buyers will ask that the sellers remove the tank. However, sometimes a home can be sold with the UST still in the ground. For example, investors and house flippers often buy properties with abandoned USTs. Foreclosures, estates, and vacant homes are often sold as-is and some investors take the risk. If a seller has a UST, selling to a cash buyer may be the best option.
2 Family With Finished Basement - Asking $200,500
Another great home for sale proudly presented by Silvio & Realty 33.
217 Parrow St is a renovated 2 family home w/ finished basement, wide detached driveway, updated kitchens & baths, new heating units, new siding & roof and more. 2nd floor unit has access to bonus bedroom on 3rd floor. Nothing to fix in this home - Just move in!
This home was renovated top to bottom in 2014 and has some unique features: 2nd floor unit has extra large 3rd bedroom on 3rd floor. freshly repaved driveway is long and wide to accommodate up to 5 cars and also has large finished shed. Basement is finished with 2 large rooms and full bath. Newer boilers, water heaters, siding, windows, and roof. Location is convenient - Very close to train station, public transportation, and major highways Rt 280 and GS Parkway. And don't forget about the low taxes! Only $4,792/yr!
FOR MORE INFORMATION CALL/TEXT SILVIO AT 973-506-9866
4BD 2BTH, TOTALLY RENOVATED ASKING $299,900
Everything new in this contemporary 4 bedroom cape cod. Where else are you going to find a home like this for less than $300,000?? Features include: modern spacious layout, brand new oak hard wood floors, central heating & air, large detached garage, and updated open kitchen with huge countertop for dining & entertaining. The full finished basement is perfect for family gatherings.
UPDATE: This home sold so fast it made our heads spin! Truth is we didn't even put it on the MLS or Zillow. We just put a sign outside, and within 2 days we had multiple offers.
This says a lot about the state of our market right now. Of note, this is the highest sales price this year for a home of this size in the Vauxhall section on Union. Another thing to pay attention to here is how quickly it sold, and the fact that we had multiple offers without really even officially putting it on the market.
We take this to mean that the market in Union is healthy and strong going into 2018.
2 Family Home with Parking- Asking Only $199,900!
Where else are you going to find a "move-in ready" multifamily home for less than $200,000? Check out this well kept 2 family property on a quiet street in Irvington. Featuring large apartments with hardwood floors, separate gas heat, finished basement with full bath, and more. This home is priced to sell!
Interested or know someone that might be? Don't wait- this one won't last! call/text Silvio at 973.506.9866