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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
REALESTATE South Jersey
SPRING 2019 ISSUE
EXPERT TIPS:
Preparing to buy a home. Staging a home. Spring market.
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In th is issu e; Wha t the are sa experts ying. Marke t trend s.
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
PRECIOUS INVENTORY = SOLID SALES
: t e k r a M g n i Spr BY CARL DIORIO
Y
ou can’t buy what’s not for sale.
That’s the problem at times like now, when inventory is low in the home-buying market. The current good news is mostly for sellers: What’s selling is going decently fast and drawing solid prices. “Right now, we’re still in a seller’s market,” said Fernanda Espinoza, an agent with Keller Williams Realty in Sewell. “Homes are priced well and selling fast. “We don’t have all that much inventory right now, and we’re trying to get more homes to sell,” Espinoza said. “We love when we get the opportunity to talk to prospective sellers, who may be wondering what they can get for their homes. That’s part of what we do to try to increase the inventory and help out our clients who are in the market to buy homes.” Of course, fluctuating mortgage interest rates also can affect things, but interest rates and other terms remain attractive by way of historical comparisons, agents say. “We’re at very low interest rates right now,” Espinoza said. “They were going up last year but not this year. So, the buyer has good power in the market right now.” Realtors say the recently stable rates haven’t had a big impact on buyers’ behavior one way or the other. And even when rates did bump up minimally there was a silver lining, as such events help nudge those on the fence to commit to shopping in earnest lest rates increase again.
PRICY HOMES DEMAND PATIENCE “If a home is totally updated, priced right and under $500,000, it is definitely a seller’s market,” said Stan Smoyer, an agent with Weichert Realtors in Moorestown. “Unfortunately, it’s a different
story for larger homes and homes that need updating.”
That means an unexpected reality check for many would-be sellers. “We sit down with these sellers and have uncomfortable and honest discussions about pricing and possible upgrades and the best market strategy,” Smoyer said. Other agents report similar upper-end sluggishness of late. “Once you go over that $500,000 mark, the home takes longer to sell,” agreed Anne Koons, a real estate agent with Berkshire Hathaway HomeServices Fox & Roach Realtors in Cherry Hill. With 34 years of real estate experience, Koons knows the upper portion of the marketplace requires a sophisticated touch. “I have somebody who works for me who is fluent in Chinese (as) you do have a fair amount of Asian population buying in Cherry Hill, Voorhees and Haddonfield because of the schools,” she noted. The turnover of properties in the
SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
MARKET CONT.
popular.
“You have a lot of trading up from $250,000-to-$350,000 to the $700,000 range,” Koons said.
Jacki Smoyer, who is married to Stan Smoyer and likewise sells real estate for Weichert-Moorestown, said millennials value open floorplans and display an affinity for gray, or “greige,” walls, along with updated kitchens and bathrooms.
highest price range – say north of $700,000 – has been particularly lethargic. Yet lower price points have been active.
Part of the problem among higher-end properties involves a long-running population drain, with more people moving out of the state than are moving in. Some say notoriously high local property taxes are at least partly to blame for the failure to attract affluent new residents. “And it’s not like you have businesses pouring in here, because it takes so long to get operating here,” Koons said.
“So open space in the living room and kitchen areas is popular, with a fluent accent in every room,” she said. “They also vibrant colors with a lot of natural light.”
“Ironically they are really attracted to newer 55-plus community ranch homes,” she said. “I regularly have to tell first time homebuyers that the ‘perfect home’ they found online, is in an agerestricted community and they’ll have to wait 25 to 30 years to buy it.
She added: “Two years ago, I sold a dozen homes over $1 million. Last year, I sold three. The federal tax change of not being able to write off your taxes also played into that. But taxes aside, you still get a lot of house for your money here.”
“Most young buyers don’t want a home that needs some TLC and improvements,” she added. “They don’t have the time, interest or skillset to do it themselves. They also don’t have the savings to pay someone else to do it. They would rather pay a little more for an upgraded home and wrap it up in their mortgage.”
Broadly speaking, Realtors say homes under $1 million eventually are going to sell. But in the tough $1 million-and-up market, some owners “might have to sell for what they paid for it 10 years ago,” Koons estimated.
Meantime, some bursts of new construction in Cherry Hill and elsewhere could help make the area more attractive to a broad swathe of homebuyers during the next 12 months. At present, most activity involves resales.
Through February, just 27 homes sold for more than $1 million in the tony sections of Haddonfield, Voorhees, Moorestown and Cherry Hill.
There are also clear signs of urban revival taking hold throughout the Camden area, where major employers such as Subaru and Holtec International have expanded operations and infrastructure improvements are expected for smaller business in the city.
“That’s not a lot of homes,” Koons said. “The highest was $2.7 million and the majority were $1 million to $1.3 million.” The $1 million-plus market has been saturated, she said, with more than four dozen homes in that price range listed at any one time in recent months.
MILLENNIAL PREFERENCES First-time home-buyers – usually young – display clear consumer preferences, agents say. “Millennials like everything remodeled,” said Keller Williams’ Espinoza, who is 28 and well in tune with the millennial mindset. “They prefer move-in-ready, and open space continues to be very
“Now more businesses may start to move in there,” Berkshire Hathaway’s Koons suggested. As for home-building, it will probably take 5 to 10 years, she estimated, “but you’ll probably see a wider renaissance in Camden on that timeline.”
BUSY SPRING EXPECTED More immediately, agents say they are bracing for a busy springtime market. “From what we’ve seen so far, I think it will improve temporarily,” Weichert’s Stan Smoyer said. “We’ve already been very busy this spring with new and
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SPRING 2019 ISSUE
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
My Complimentary Staging Sells Homes!
856.266.0588
joandelaneyrealestategroup.com 202 W. Main Street, Moorestown, NJ 08057 Office: 856.235.1950
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
STAGING YOUR HOME BY RYAN LAWRENCE
looked at all, really – the rug in the foyer? Sure, we’re not supposed to judge a book by its cover, but sometimes it’s what draws you to the book in the first place and it surely affects your interest in buying the book. The same psychology is at play when prospective homebuyers arrive for a showing. They came. They saw. And they judged.
bef
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Is there a little bit of paint chipping away at your front door that you either forgot about or didn’t notice? Are there small cobwebs or dead bugs on the light fixture in the entryway? When was the last time you closely examined – or
Delaney has worked in the real estate business for 15 years. She also has a professionally trained eye for seeing what some sellers might not, for finding the small things that need adjusting, re-organizing, or removal, small things that can add up to big things that lead to fewer showings and homes listed for longer than a seller might like. Delaney is an accredited staging professional. What’s staging? It’s coming into a home, taking stock of what’s where and how it all looks together, and then brainstorming to decide how it should look, how it would look best in maximizing space and its positive attributes, and then putting that plan into action. “When I come in and I want to look at each room and ask, ‘How can we best highlight and showcase this room? What’s the best use of this space? How is it going to photograph best? How can I use their furniture?’” Delaney said. “The goal is to make sure that when a buyer comes into a home, that they really understand the space, that it’s being utilized correctly, and that any focal points in the room are truly focal points, that everything makes sense in those areas of the house. … Many times I bring in my own furniture, accessories and things that will just make a room look better. We also take out pieces that aren’t working in a room.”
er
It’s no different when you actually zone in on your own home.
“There are certain things people can’t look past,” said Joan Delaney, a real estate agent for Weichert Realtors in Moorestown. “There really is a value in having a home look good.”
aft
A
s we go about our daily lives, it’s easy to develop a blind eye for the things we’re most familiar with seeing: the number of trees in a neighbor’s yard, the color of the car that’s parked across the street everyday, or the number of red lights and stop signs between your house and your job, for example.
MARKET CONT.
upcoming listings, so the supply will be there. The demand right now is also strong. New buyers are entering the market to compete with other buyers who are already out there, waiting for the right home to hit the market.
“They’ve done their research and are pretty educated on home price,” Smoyer added. “They’ve already seen the old inventory. So nice homes that are priced right will sell very quickly, and I expect a temporary increase in inventory that will be quickly consumed.” It should be noted that part of what Realtors do in any market is educate first-time buyers and others about how to gauge their buying power. “Many people don’t really know how to build a home-buying budget, so I have to sit down with them and give them some information,” Espinoza said. “They want to buy a house and just don’t know how to start. How can they start building credit? How much cash do they need? Those sorts of things.” As for prospective home-sellers, Koons advised: “If your home is over 20 years old, have a home inspection. Any (repair) issues are all going to come up in a home inspection.” Such proactive steps can save a lot of hassle in the actual sales transaction, she stressed. “A lot of home deals this year and last have died because of home inspection,” Koons said. “And a lot of people fix up the inside, but they let the outside go. The outside is just as important as the inside of the house.” As for those going on the hunt for homes this spring, there’s this good news: Real estate apps and websites these days offer an impressive array of informational bells and whistles. And that means the start of the road to a buyer’s dream home truly can be just a few key strokes away. ■
Sometimes it’s as simple as removing an extra piece of furniture, adding accent rugs, hanging a fresh new set of bath towels (and never using them), or deciding on a new color of paint to brighten up a space. Some elements of staging are inexpensive – you don’t have to pay anyone to clean up your clutter – but you may also consider setting some funds aside to budget for the possible improvements your home needs before it can sell to its maximum potential. “I’ve had examples of people having wallpaper up,” Delaney said. “Great rooms, (but with) wallpaper and they really dug their heels in and didn’t want to get rid of the wallpaper. And I’ve had this happen, when the finally said, ‘OK, we’re understanding this feedback,’ that people (can’t look past the wallpaper). They went and did the painting and their homes go under contract immediately. It just makes such a difference.” If you’re considering selling your home and you’re not sure where to start, think about yourself as the person driving up to your house, walking toward the front door and coming in for the very first time. What might you see if you were in their shoes? Sometimes it’s difficult to see what you’ve become immune to, because you’re just so used to or accustomed to your own home. A real estate agent with
bef o
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“You know how people go through new construction and a sample home and it maybe doesn’t have a lot of furniture in it, but everyone goes, ‘Oh my gosh,’ everyone loves it because they love the simplicity of it, they can understand how the rooms work,” Delaney said. “It’s clean, it’s neat, it’s organized ... When we stage, our rooms don’t end up looking like that – people live in these homes. So we do have accessories. But we want people to feel like that. For them to walk in and go, ‘Wow, this looks great, I can really see my family here.’”
aft
If you think about your own experiences in home buying, you probably understand staging even if you’ve never heard of the term. Surely you’ve had (or at least know someone who has had) a bad experience at a showing. You scheduled to see a home for sale and the crowded, disheveled or just plain unattractive feel of the house immediately turned you off.
I won’t just List your home, I’ll get it Sold. Cynthia Beechler
Sales Associate Foodie | Cyclist | World Traveler
202 W. Main St., Moorestown, NJ 08057 O: 856.235.1950 C: 732.690.0888
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
Thank You to our
Expert Real Estate Contributers
Cynthia Beechler Weichert
Alex DiTullio
William Penn Bank
Sara Hawken Keller Williams
Christine Dash Keller Williams
Anne Koons
Berkshire Hathaway
Jackie Smoyer Weichert
Weichert
Fernanda Espinoza
Arlene Dowd
Berkshire Hathaway
Joan Delaney
Keller Williams
Mary O’Connell Long & Foster
Stan Smoyer Weichert
Dana Gounaris Trident Mortgage Company
Susan Pressler
Berkshire Hathaway
Lisa Wolschina Keller Williams
stagi n g expertise could surely help you get going.
STAGING CONT.
But if you want to do one thing before you get to that point, it’s never a bad idea to begin by getting rid of the excess stuff that’s crowding your home. “A lot of that has to do with how much we all collect in our homes, living there over the years,” Delaney said. “It disappears in our minds as homeowners, but it’s one of the first things the buyer might see. So we want to make sure that that clutter is put away. … I relate it to having a really big handbag, you keep throwing things in and then you go, ‘Oh my gosh, I can’t find anything.’ That’s kind of what happens to homes sometimes. “Clearing out and wrapping their minds around that, that would be my first step. You have to have your giveaway pile, your keep pile and your throwaway pile. If you start there, you’re ahead of the game actually, because you’re packing up things I can’t use to stage your home. If you move them with you, you pack it up – you’re that far ahead.” ■
SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
BUYING A HOME BY JEFF NEIBURG
T
he internet has surely changed the way people go about the homebuying process, at least in step one. A quick search on websites like Redfin, Zillow, Trulia and others can have you touring a home and imagining how you and your family fit inside long before you’ve even thought about who your Realtor might be. You may have an idea of where you want to live, so you adjust the map accordingly. You know you want three bedrooms and at least two full bathrooms. You know you want a finished basement and a garage. You don’t necessarily want a deck, but you won’t rule it out. Put all of those things into the filters on those websites and hundreds of homes on the map have been whittled down to a select few.
“Buyers are a lot more educated today than in the past,” said Susan Pressler, a team leader at Berkshire Hathaway who focuses her business in Burlington County. “They can jump on those sites and view the properties and see the virtual tours. There are some tours walking room-to-room in the house online. “They’re coming to us now and saying, ‘This is what I want. This is what I saw. Take me there.’ They can see exactly what they want and see what they need and what looks too big or small.” “It’s like they’ve already visited the house,” said Arlene Dowd, a Realtor on Pressler’s team. On the lending side, things can get a little misleading. “Normally what they need help with
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is interpreting how it applies to them,” said Dana Gounaris, a mortgage consultant and regional manager for Trident Mortgage. “Information on the internet is typically not specific to the buyer’s set of circumstances – their exact credit score, income, down payment, etc. – so often it’s out of context. Having a reputable mortgage consultant guide them through the process is crucial.” Overall, Pressler and Dowd said, the internet has made things easier for buyers and for Realtors. But even if the overall start-to-finish buying process has been streamlined, not a whole lot about the requirements has changed. Preparing to buy a home still requires buyers to do their due diligence.
How much can you spend? In general, lenders recommend buyers spend about 20 to 30 percent of their household income on housing. That includes a mortgage payment and taxes. Without creating a proper budget and knowing what you can spend, there’s really no point in playing around in the
JAMES FALVEY
JAMES LACY
LISA CLARKE
KATHERINE NICASTRO
Keller Williams Realty 409 Route 70 East, Cherry Hill, NJ 08034
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
Welcome Home 464 West Shore Drive Brigantine
Melissa Morfin Broker Associate
Hablo Español
w
SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
Enjoy the warm summer bay breeze in this beautiful bayfront classic situated on a double lot with floating docks perfect for your boat or water sport vehicle. A fully furnished retreat boasting 6700 square feet that includes an open floor plan with a gorgeous kitchen, 6 bedrooms, 9 baths and many amenities including a wet bar, enclosed outdoor bathroom, welcoming sun room, and a beautiful spiral staircase that leads to a cupola with an amazing panoramic view of Brigantine and Atlantic City. Family and friends can relax on the beautiful deck while enjoying the view or enjoy the 12 person swim spa. Either way you can’t go wrong! The beauty of this property is not the only thing that makes it “The Jewel of the Island” but it also has great history. This home is located on the grand estate of Justice Vincent S. Haneman. After growing up in East Orange, NJ Justice Haneman received his law degree from Syracuse University in 1932 then moved to Brigantine, NJ. It was not long before he was appointed as the City Solicitor then elected Mayor of Brigantine in 1934. During his time as Mayor, Justice Haneman was elected as General Assembly then counsel to NJ Racing Commission until he was appointed Judge of the Common Pleas in Atlantic County. Shortly after he became Vice Chancellor of the Former Court of Chancery then Judge of the Superior Court, Chancery Division presiding over the vicinages of Burlington, Camden and Gloucester Counties. The bridge leading into the beautiful island of Brigantine is named after Justice Vincent S. Haneman. Be part of the history and enjoy the spectacular views Brigantine and this home have to offer!
C: 609.502.2201 O: 856.235.1950 www.MelissaMorfin.com MMorfin@weichert.com 202 W. Main Street, Moorestown, NJ 08057
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
BUYING CONT. fantasy lands of Zillow and the others. “It’s absolutely critical,” said Alex DiTullio, a vice president in lending at William Penn Bank. “Financing is the most important step that they’ll find after finding the right home.” Talking to someone in DiTullio’s position is always a good start. Getting preapproved or prequalified for a mortgage will make going to a Realtor easier since you’ll know what homes are in and out of your price range before you waste everyone’s time seeing a house in person that you can’t afford. Another must, DiTullio said, was having a good sense of what your credit is, as well as how your income stacks up. “There are some options for people with not the best credit right now,” he said. “Less-desirable mortgage products that had been out there prior to the downturn are coming back. People that have the lower end of credit are able to get financing now.” Programs like FHA loans, VA home loans and USDA rural development loans have made it possible for buyers with low credit scores to get approved to buy a home. What about interest rates in general? “Rates are low again,” DiTullio said. “They’re the lowest they’ve been in about two years at this point. I know the narrative was rates are going up. While they’re not the historical low point that we might have had in 2011, they’re really as low as they’ve been in quite some time. Now is an excellent time – if you can find a home, that’s the difficult part. A solid interest rate is definitely attainable.”
come o f f all time record lows but are still at historically low levels. To help put the current rate environment in perspective we encourage home buyers to view a mortgage rate chart dating back to the 1970s. Rates are well below average now.”
So you know what you can spend… now what? According to DiTullio, less than 0.5 percent of all the homes in New Jersey are currently for sale. “People are coming in over asking price on deals and still losing them,” DiTullio said. In Burlington County, where Pressler’s team focuses, properties sold in 2018 were up by 9.2 percent over 2017, Pressler said. Average days on the market for the same timeframe was down 12 percent, from 130 to 116 days. And new listing inventory in 2018 was down 4 percent. It is most certainly a seller’s market right now. “The buyers are now competing,” Pressler said.
The average interest rate, according to Freddie Mac’s Primary Mortgage Market Survey, rose to 4.41 percent on a 30-year mortgage in early March after weeks of remaining below the rates of 2018. For a 15-year loan, the average was 3.83 percent.
“A few years back you could drive around and see plenty of houses for sale,” Dowd said. “Now there’s not that many.”
“After 2008’s financial crisis, mortgage rates dropped to record lows,” Gounaris said. “In the past few years, rates have
“We’re used to a seller’s market,” Pressler said. “Our job is to find the listings out there to add more to market. That’s what we’re diligently working on right now is
Does that mean a Realtor’s job is made a little more difficult? Not really.
SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
Spectacular design, spectacular value in Moorestown’s most exclusive neighborhood!
t o add more inventory.”
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BUYING CONT.
Pressler said the first step in meeting with a Realtor is to sit down for a “needs analysis.” At that meeting, the buyer and Realtor will g o over preferences like lot sizes, lifestyle, school systems, work commutes and more. She’ll also introduce to the buyer a mortgage person. With inventory low, there aren’t necessarily any specific neighborhoods that are hot right now, Pressler said. “It’s more about what homes are updated, well-staged and properlypriced,” Pressler said. “Those are the ones that are flying off the market and seem to get the most attention.”
Organization is key 6 Cobblestone Court | 6 Bdrms, 6 Full 2 Half Baths 3.39 Acres | Pool | $2,750,000 Spectacular from its soaring 20+ ft. double foyer with curved staircase and marble floors to its backyard oasis with multiple patios and pool, this magnificent custom home presents a rare opportunity to reside in this exclusive neighborhood at a cost well below other offerings on Cobblestone Court. Dramatic architecture defines both exterior and interior space, while high end finishes throughout create a residence of unique character, quality and privacy. Over 11,000 square feet of fabulous living space includes these special features: • A Great Room with voluminous double-height ceiling and views of the back patio, entertaining space, and pool through glass doors and large windows. • Large, modern kitchen featuring all highend appliances and granite countertops. Sunny breakfast room. Butler’s pantry with built-in cabinetry. • Dramatic office/music room with handsome floor-to-ceiling wood paneling, coffered ceiling and fireplace, adjacent to a professionally appointed bar with wood paneling, banquette and another fireplace.
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.• A sumptuous master retreat (accessible via the main or back stairway) complete with private balcony, sitting room, huge closet, triple-chambered master bath, and coffee room. • Four additional bedrooms on the second floor, each with its own private bath. • A 3,200 sq. ft. lower level with a personal gym, arcade room, entertainment space, TV room, wine room and tasting area. • Attached garage with 3 spaces, plus a detached garage with 3 additional spaces – ideal for the serious auto enthusiast.
Paul Canton III Cell phone: 609-230-8017 paul.canton@longandfoster.com www.paulcanton.LNF.com
With inventory low and demand still pretty high, being organized, both with documentation and your thoughts, is really important. “(Buyers) need to think about what they want to spend their money on and financially what they’re able to do,” Pressler said. There’s no time for cold feet, and certainly Realtors and lenders prefer you’ve got your papers handy. “It’s really critical,” DiTullio said. “If you can come in at the start of the process and have things in order, it’s really going to make it so much easier. Sellers want tight deadlines. Sellers are pushing for quick closings and it’s really critical that buyers be prepared.” That means making sure you’ve got all your tax returns, bank statements and other documents ready when you meet with a lender. “They can get you closed in a quick manner because you have everything you need,” he said. ■
Expert Tips: 16
SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
HOME SELLING TIPS FROM THE EXPERTS
2. Bathroom – Update lightfixtures, ike Crawford, who owns a landscaping business, is ing looking to buy a house in “a year and a half or so.” faucets and cabinet And although he might not have an exact date to hardware. purchase his first home, Crawford knows exactly what will “Even bathrooms that are make the first impression. outdated, you can change the “When you pull up to a house with bad landscaping what does fixtures,” Dash said. “Changing a that tell you about what is going on inside the house as well?” light can make all the difference in the world.” Crawford offered.
BY KEVIN CALLAHAN
M
“That is something that jumps out at me, I’m always looking for how the lawn looks,” continued the owner of Crawford Landscaping, which serves predominately Haddonfield, Haddon Heights and Haddon Township, on the landscaping of a house. “I look to see if they maintain it. How much time is spent on it? Some people just let it go and there are jungles in the backyard, but yeah, I definitely notice that right away.”
3. Flooring – Hardwood floors sell homes, but if it is not feasible, replace colored carpets with light and neutral color. “When it comes to flooring, people are really looking for hardwood,” Dash said.
4. Kitchen – Update the counter with granite since it is relatively inexpensive and a matching appliance package will Of course, what is going on inside the house is significant as bring it all together. well in selling your home at the highest market value. “Obviously, the biggest room in the house that carries the most weight is always the kitchen,” Dash said. “If you have cabinets that are Christine Dash, of Keller Williams Realty in Moorestown, says outdated and Formica counters and all in preparing your home for the spring market, “there are little that and you don’t have the money things you can do that can make a huge difference.” to put the cabinets in, it is very easy, depending on what kind Here are her Fresh Four tips: of wood it is, to change the knobs or have them paint1. Paint – Primary areas to paint are when you first walk in the ed and it changes the house and the master. whole look.” “For just a small amount of money you can paint the house, just a neutral color, and it gives it just an amazing facelift,” Dash said. “It doesn’t cost a lot, but it gives you tens of thousands of dollars, it just does, it is a nice refresh, it is a nice update. That is the biggest thing for the buck.” The first photo Sara Hawken, also a
Fresh Four tips
Spring is the selling season
Realtor at Keller Williams in Moorestown,
SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
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TIPS CONT.
has o n h e r business Facebook page is a picture with the words “Hello Spring” flanked by two plants. She knows the spring season is the time to sell.
Hawken said a minor bathroom remodel that could include replacing the tub, tile, flooring, toilet, sink vanity and fixtures as well as upgraded landscaping will give the seller a 100 percent return on investment (ROI). She said a minor kitchen remodel, which could include just a cosmetic update such as painting cabinets, installing a new counter top and under cabinet lighting, as well as exterior improvements, including landscaping, a new front door and garage door, both are 95 percent or above ROI.
REAL ESTATE & BUSINESS TRANSACTIONS & LITIGATION SHORT SALES & FORECLOSURES ESTATE PLANNING/TRUSTS ESTATE ADMINISTRATION GUARDIANSHIP ESTATE LITIGATION LAND USE CRIMINAL DEFENSE MUNICIPAL COURT & DWI JUVENILE
“If you’re looking for budget friendly DIY fixes, I always tell my clients paint goes a long way,” Hawken concurred with Dash. “Pick a neutral color, light greys are popular, and continue the color throughout the home. “Get crazy and paint those kitchen cabinets too and your front door.” Hawken also offers the following advice: reglaze tiles in bathrooms; refinish hardwood floors instead of installing new ones; remove popcorn ceiling; improve the lighting and bulbs; paint paneled walls; remove dated window treatments – especially vertical blinds on the back slider. “When sellers follow this list and declutter, their home only lasts on the market a couple weeks verses months,” Hawken said. Mary O’Connell, a Realtor/sales associate at Long & Foster in the Cherry Hill/Haddonfield office, agreed the types of improvements that are worth making when selling for the spring market starts with sprucing up the kitchen, which she called the “most loved room in a home” as well as space which isn’t seen by visitors.
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
TIPS CONT. “Buyers love storage, so any addition of built-ins in a room or closet give the seller bonus points,” O’Connell said.
Sympathy for the seller O’Connell also offered that adding a deck and replacing old vinyl siding pads the selling price, however, she cautioned against more costly improvements. “Putting on a new roof, doing a major kitchen remodel, putting on an addition of a bathroom or adding a patio may not give you the biggest return when it’s time to sell,” O’Connell said. As for curb appeal, O’Connell suggested adding a bench or chairs to a front porch. Dash also guides her clients not only first and foremost on the right pricing of the house, but also what home improvements are worth the cost before placing the house on the market. She understands the seller’s dilemma
of how little or how much to improve before listing while balancing with her clients that the appearance of the home will show up also in the pocket book. So, she offers even more seller-friendly tips that are even cheaper than painting. “You want to look updated without having to spend a fortune,” Dash said. “Lighting is a time stamp. Something that is more contemporary looks so much better.” She also suggests “opening up” the house. “You want to get rid of a lot of furniture,” Dash said. “You want to reduce the amount of volume in the house, and anything that looks dated, you want to get rid of or put in the garage.” Clutter must go even before the chairs and tables. “When you remove all the stuff from the www.nextlevelremodeling.com
walls a n d put one or two meaningful things up, all of a sudden it softens your eyes,” Dash said. “Get rid of all of the little trinkets. “It is all about the presentation. It is all about how that buyer feels when they walk into your home.”
The basics: Trim and clean Before walking into the home, however, the buyer sees the outside. Jim Fullerton of Par 4 Landscaping and Lawn Care has been providing residential and commercial landscape, hardscape and full service lawn care in South Jersey since 1993 and he feels the basics can just be done to improve curb appeal. “Usually it is things need to be trimmed or new plantings need to be put in,” Fullerton said. Michael Crawford also advises the basic trim and clean, like going to the hair salon before a job interview. “If they are trying to sell it for a good profit, they call me and ask for fresh mulch obviously, garden and cleanup, just all your basics,” said Crawford. “They will have us come in and plant new flowers … the average mulch job with flowers is $500.
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“That is not outrageous to fix up a house.” And the basic trim and clean outside tells the prospective buyer pulling up to your house what is going on inside the house as well. ■
SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
Realtors to the rescue
As the most popular season for real estate approaches, it’s important to seek the right agent. BY GRACE MAIORANO
F
rom budding flowers to balmy breezes, several signs reveal that spring has sprung in South Jersey.
But perhaps the most considerable indication lies in the sprint to sell and seek homes, as this time of year statistically marks the most popular season for homeowners to peruse the real estate market.
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Whether buying a home for the first time or selling a home for the 10th time, investing in a real estate agent or Realtor could offer not only insight, but even serenity to an ordinarily stressful process. Experienced agents across South Jersey agree that partnering with the experts bestows countless advantages over other avenues of selling and buying. “There’s so much that goes into it that someone without a license just wouldn’t know,” said Realtor Lisa Wolschina of Keller Williams in Haddonfield who has been in the industry for 17 years. “So, it’s not only the education of being a Realtor and being licensed, but the knowledge that we bring. There’s so many factors that go into a real estate transaction that have to go perfectly in order for a home to close, and that’s what most people don’t realize. They don’t know everything that’s done behind the scenes.”
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SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
REALTORS CONT.
Realtors – agents who are federally-registered with the National Association of Realtors – say that buyers often believe the entire procedure, which could take months, simply rests in coming to terms with a price. However, there are many professionals involved in getting a house to the closing table and actually being successful with the closing. Most of the time, individuals lacking a license do not have the proper training or understanding to finalize those details, which encompasses a slew of details from plumbing to legality. Aside from understanding all facets of a house, including its prior sales and market value, a real estate agent’s knowledge covers specifics, such as title searches, inspections and zoning issues with the township. Agents prevent major components from falling through the cracks, as sellers can actually be held liable if something is not disclosed. “For a buyer, a real estate agent is so much more than finding a home,” said Realtor Cynthia Beechler of Weichert in Moorestown who has been in the industry for the past few years. “A real estate agent is there to advise and lead a seller or buyer through a process that can be very complicated. Agents provide many resources to assist their clients in order to keep the transaction going and get to the closing table on time. Many sellers and buyers see the true value of this guidance and advice once the transaction has been completed.”
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Not only should buyers and sellers be properly vetting their potential advisers on the basis of market knowledge, but they should also try to establish cordial rapports with them. Choosing an individual to guide the selling or purchasing of a home should require more than simply searching online or through the yellow pages.
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“It’s almost like an intimate relationship while you’re looking for the perfect home or while you’re selling a home that they lived in for 30 years,” Wolschina said. “You really have to be close to them for that period of time, so personality is very important.” In finding the appropriate agent, individuals are advised to attend open houses and interview prospects on the spot as well as thoroughly consider written or word-of-mouth reviews from prior sellers and buyers.
SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
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REALTORS CONT. Of their scope of expertise, real estate agents’ grasp on the current state of the market is an inarguable asset, as the industry fluctuates frequently on a yearto-year basis. “Not only does the market change as time goes on, but many times the real estate process changes as well,” Beechler said. Buyers and sellers who have been and on and off the market for years should not interpret their past experiences as knowledge for today, because the business – on national and local scales – inevitably shifts. Over the past few years, South Jersey Realtors say the regional home buying demand has relatively normalized, as interest rates are increasing while home sales are staying pretty steady. “It’s a stable market, I should say, and that’s good, because it helps us be productive,” Wolschina said. “We understand how to read the market, and it’s easier for buyers and sellers to trust what we’re saying, because it’s a nice stable market.” In desirable South Jersey towns like Moorestown and Haddonfield, agents say in the springtime, if homes are priced fairly, buyers can go under contract in just a couple of weeks, according to trends over the last five years. If you’re thinking about buying or selling in these towns, as well as neighboring South Jersey regions, Realtors recommend acting now, as the popular season is well underway.
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“Spring market is here, and it could get very competitive with buying and selling,” Beechler said. “So if you don’t have an agent representing you, you could actually lose the offer that you’re making on a home. You could actually not get as many buyers if you’re selling a home, if you’re not being represented by a real estate agent.” ■
SOUTH JERSEY REAL ESTATE MAGAZINE | SPRING 2019
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