If You’re Thinking About Buying Or Selling A Home, You’re Definitely Not Alone

If you’re among those watching the real estate market and thinking seriously about buying or selling a house, you’re not alone. A recent survey by real estate website Trulia revealed that 78 percent of the renters surveyed want to buy a new home. Those strong national numbers reflect what members of The Holmquist Team are seeing in Chester, LongValley, MountOlive and the surrounding areas.

The recent survey, called the American Dream Survey, was conducted by Trulia in May. It surveyed 2,205 homeowners and renters to see how people felt about housing after the rescission. In a word, they feel good.

Here are some interesting facts from the survey:

  • Despite reports that homes are shrinking in size, Americans still like big houses. Of those surveyed, 27 percent considered the ideal size for a home to be more than 2,500 square feet. Interestingly, Trulia says the majority of homes on its website are between 800 and 2,000 square feet.  And while we’d like to have more homes above 2,600 square feet to show, the ones we have sell quickly and often close to the asking price.
  • Buyers have definite ideas about what they want: 63 percent want a master bedroom, 56 percent want a walk-in closet, 50 percent want to make dinner in a gourmet kitchen, and whatever room they’re in, 35 percent want wood floors.
  • If you’re worried about downpayments or mortgages, you’re not alone there either. Almost half (47 percent) of those surveyed worried that they wouldn’t be able to find the downpayment and another 25 percent are unsure if they’d qualify for a mortgage. Members of The Holmquist Team can help you find out if you can qualify and connect you with banks with a variety of special programs.
  • More than half of those surveyed (61 percent) think home prices will increase in the next year and 58 percent think prices will soar to 2005-06 levels within the next decade. While predicting the market that far in advance is risky, home prices already are stabilizing and, in some places, beginning to rise.

Whatever your opinions are, the facts are these: Well-staged and well-marketed homes that come on the market are selling within a reasonable time frame at reasonable prices. If you’re thinking about selling your home or buying a home, we should talk. A member of The Holmquist Team can help you explore the local market, determine what options will work best for you. Call us today at 908-867-7109 or by clicking here.

New Website Fights to Preserve Homeownership Opportunities For All of Us

LONG VALLEY, N.J. – Whether you own a home, or you’re a renter who would like to be a homeowner someday, a series of legal proposals and events are threatening long-held ideas about home ownership. Holmquist Team members have been urging people to visit a new website that talks about those challenges and gives people an opportunity to be heard on the topic.

The site, http://www.protecthomeownership.com, was created by the National Association of Homebuilders. It explores the mortgage-interest deduction, affordable housing issues, foreclosures and the threats to the many jobs created by the housing industry. And it’s information every homeowner or perspective homeowner should be aware of, whether you’re selling a home or not.

You might think it’s a little self-serving for a Realtor to be promoting a site supporting homeownership, but there is a lot more at stake here than a few listings.

Home ownership has always been a goal of many Americans. While a house is usually a good investment, that’s not the primary purpose of owning a home. It’s a safe place to relax, raise a family, escape from work and live life one’s own way.  It creates wealth and promotes financial security for individuals and also builds stable communities where people feel a strong stake in what happens.

Equally important, new home construction and the resale of existing homes create jobs for millions and generate revenues for businesses and government. Think about it: Ever know anyone who bought a home and didn’t spend a lot of money on redecorating and refurnishing? That money stays in our communities!

For reasons that are beyond me, government officials are considering a lot of policies that will harm homeowners, home buyers, homebuilders and the millions of people connected to the industry. For example:

  • Debate continues about cutting or eliminating the mortgage-interest deduction from your income taxes.
  • With few regulations governing appraisals, it is difficult sometimes to get a fair appraisal without having foreclosed or distressed properties included and pulling down the price of a home.
  • Six federal agencies have proposed a mortgage standard that would make 20 percent down payments the “new normal.”
  • Surprisingly, there is a lack of inventory in many types of homes, and places where the demand for new homes is rising. Banks, however, are doing to builders what they’ve done to homeowners: They’ve cut them off from credit for land acquisition and construction. The housing market – and all the jobs it creates — can’t make a comeback without credit for builders. Legislation addressing the issue has been introduced.

As Realtors, we talk every day with people who want to buy and sell homes and people who are pursuing their dream of homeownership for the first time. For many, owning a home is milestone that means they’ve become part of a community and achieved the American dream. For others, it’s a financial and social shelter that provides them with security. For all, homeownership is one of the rewards of working hard and being successful.

People in Washington seem to have forgotten about those feelings. Homeowners and those who want to become homeowners need to understand that there are threats out there, and must take some action against those threats. At the same time, they need to support legislation and regulations that support homeownership.

The NAHB’s website, www.protecthomeownership.com, is a good way to start learning about the federal issues and how to get involved. There are state issues, also, that impact you as a homeowner or homebuyer. And if you have questions about any of these issues, or want  help buying or selling a home, call us at (908) 867-7109 or a http://theholmquistteam.net.

 

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Featured Home

The Holmquist Team can show you a wide variety of single-family homes and condominiums in the area, including this featured home:

76 W. Springtown Road in Long Valley is an elegant, spacious colonial on more than six private acres. This four-

home for sale in Long Valley by The Holmqust Team

This beautiful home is available in Long Valley.

bedroom home includes a two-story family room, study and updated kitchen with stainless steel appliances, corian countertops, breakfast bar and beautiful cabinets. Upstairs, the master suite includes a luxurious master bath with jetted tub and lots of closet space. Outside, there’s an in-ground swimming pool with waterfall and beautiful grounds. In addition, the home is close to shopping, restaurants, highways and trains and buses for commuting. Children attend the highly rated Long Valley and West Morris schools. Priced in the mid $600s, more information is available about this home at (973) 867-7109 or by clicking here.