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Home Selling in 07068 : Real Estate Advice

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Thu Nov 21, 2013
Kyle Kovats answered:
In an appreciating market like the one we are in right now a lot of people think they should hold on until their home hits peak value and then sell but there's really two ways to look at this. If you wait to sell, yes your home will appreciate in value but so will your next home so that all kind of evens out. But what you have to take into consideration, especially in this market is that interest rates are still INSANELY low by historical standards. So if you sell today and get a great interest rate on a mortgage you actually save more money in the long run and will be able to afford "more house" due to low rates. ... more
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Sun Jun 26, 2011
Jeanne Feenick answered:
Good point by Lynn, but if in fact right next door, it may be more a negative than positive. Commerical/retail space right next to residential will reduce the pool of future buyers who will consider your home. Anything that depletes the supply of buyers will have two effects - it will negatively impact price and positively impact time, ie add to time to sell.

Best,
Jeanne Feenick
Unwavering Commitment to Service
... more
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Fri Jun 17, 2011
Gina Chirico answered:
Hi Claire,

It's me again - I did respond to one of your other questions regarding the sports complex. If, as you say, this complex is being built next door to your home, I would have to say yes, this will impact the value of your home and if you choose to sell prior to it being built, you will have to disclose that a sports complex will be built. Aside from the complex perhaps being an eye sore, if homeowners are able to hear the noise at the fields, and/or PA system in their homes, that will also contribute to the impact of the value of your home.

Not knowing the exact location, what takes up that space now? Depending on what's currently there, the value may already be compromised.

Gina Chirico, Sales Associate
Lattimer Realty
973-575-6353 ext 17 office
973-715-1158 cell
Gina@GinaChiricoRealEstate.com
... more
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