Summer 2022 SJ Real Estate Magazine

Patrick CampbellKathleen Boggs-Shaner

Joe Milchling

Denise Varsolona

THE BEST WAY TO

DURING THE SUMMER

BY CHRIS ISAAC

air conditioners. But that can be a case of ‘you get what you pay for’ where you will see lesser quality in the comfort of your home.

setup, which is using much more electricity to provide much less comfortable results.

Youdon’t have to be living in one of the Southern states to experience heat that can become brutal. Even in New Jersey, the summers can often be hard to handle. And that is only getting worse as forecasters have reported, in recent years, how we have experienced some of the hottest days on record. You might like the sunshine for a vacation in Florida, but when it comes to day-to-day living, you no doubt want relief.

“A window unit, it’s not even really the same thing,” said Milchling when comparing them to the job central air can do. “There’s no return. It’s just blowing cold air and it’s not really going to do a great job…A window unit isn’t going to be efficient of course and it’s only going to cool one room.”

However, a fully optimized system is, of course, not going to be the right choice for everyone. For some, finding something functional and also low cost is the priority, which is totally fine. Even in the case of central air, it wears out after 15 years or so and needs to be replaced to function at its peak. Otherwise it will start running you more in utilities,

please see COOLING, page 10 relief.

Some people wind up with three or four window units running with such a

There utilize con-

There are plenty of methods you can utilize to cool off your home, but finding the right solution to the temperature can be a balancing act. Is your priority on comfort above all else? Or are you trying to be mindful of cost effectiveness versus efficiency?

New Jersey’s own Joe Milchling of Professor Gatsby’s Heating & Cooling shared how these are conversations that have come up a bit more frequently, especially during the pandemic with people working

“If paying the the who little to a

“If you’re home all day you’re maybe paying attention to how comfortable the home is,” said Milchling. “During the pandemic we did see some people who paid a little bit more attention to just being not as comfortable in a work environment than maybe what they were used to at their office. Or just people who wanted to do more home renovations in general because of the pandemic.”

Milchling is one of the business owners of Professor Gatsby’s, and tries to get his customers to see the importance of efficiency for the long-term rather than worrying about the higher installation cost for central air compared to some other methods. In fact, he even shared how utility companies also want you to go with central air because it uses less electricity to cool the entire house. So, utility providers usually have programs that provide incentives for making the switch. For instance, those who are in good standing with making their utility payments often receive 0 percent financing on the installation of central air.

The upfront cost might initially deter you and prompt you to look at simpler alternatives such as fans or window unit

SUMMER REAL ESTATE MARKET COOLING

AS INFLATION AND MORTGAGE INTEREST RATES INCREASE

BY KATHY CHANG

As the real estate market comes off a hot spring season, the summer market is still relatively hot, however, it’s compounded with the increases in the mortgage inter-

“It’s still a seller’s market,” said Michelle Arnold of Weichert in Moorestown.

And with the market literally changing on a daily basis, Arnold said it’s important to have a pulse on the market when considering to sell or buy.

Arnold has seen time and time again. Arnold said she is still seeing multiple bids on properties due to limited inventory and appraisals and inspections are still being waived.

However, it comes down to qualifications as mortgage interest rates please see MARKET, page 14

$200 per window savings are from retail price. Applies to Addison Plus, Imperial LS and Potomac models only. Cannot be combined with any other ofer. Excludes Labor. Financing ofers a no payment - no interest feature (during the”promotional period”) on your purchase at an APR of 17.99%. No finance charges will accrue on your account during the promotional period, as set forth in your Truth in Lending Disclosures, and you will not have to pay a monthly payment until the promotional period has ended. If you repay your purchase in full before the end of the promotional period you will not have to pay any finance charges. You may also prepay your account at any time without penalty. Financing is subject to credit requirements and satisfactory completion of finance documents. Any finance terms advertised are estimates only. Normal late charges apply once the promotional period has ended. Ofer expires on 8/30/22.

continued from page 7

but that might be something you are willing to accept if you know you are going to be moving elsewhere in the near future. Finding whichever solution is best for you requires looking at all of your circumstances.

Another challenging factor can be for homeowners who live in historic homes that have never had air conditioning installed in any fashion. In such a case, that introduces new considerations for potential structural issues that need to be navigated, like is there adequate insulation? Milchling discussed how this makes it so no house has a one-size-fits-all solution due to the reality that each home is built differently.

“Sometimes there’s what we call hot and cold spots in a house, where there might be a room upstairs that just never gets

cool in the summer or something like that,” he said. “We’ll try to do a kind of a survey and have conversations with the customer. Just say ‘tell us about what your experience with your home is, tell us about your utility bills’.”

Finally, it is important to consider repairs and regular maintenance rather than just buying new every time. Once you have found a cooling setup that please see COOLING, page 11

continued from page 10

works for you, you want to gain the most longevity out of it as possible. Milchling identifies not doing this as a major mistake that ultimately winds up creating more work and expenditures for putting things off.

“A lot of the business is driven by, you don’t replace your heating and air until it just breaks,” he said. “Because nobody really likes to replace their heating and air because it’s not like a nice vacation or a shiny new car.” He shares how his company often sees that many people come to them only when their system has broken down, usually on a sweltering day. Whereas regular maintenance can keep your system running uninterrupted and save you more significant repair costs.

As you can see, much of being happy with your home cooling is dependent on you planning ahead for the future rather than just going for a quick fix. However, everyone’s situation is different so you should not take any options off the table before figuring out what kind of results are most important to you. Consider factors such as cost, efficiency, how frequently you expect to be home, and how long you expect to continue living in your current home.

As Milchling explained, that is why Professor Gatsby’s does not try to funnel all customers towards the same answer. If there are five potential solutions, they don’t want to only tell you one. That is why their motto is “In everything we do, we bring comfort home to you.”

Therewas a time, says real estate broker Kathi BoggsShaner of Berkshire Hathaway HomeServices/Haddonfield, when any inground pool in South Jersey, even a heated one, would cool off many a potential home sale.

“They looked at it and said, `Oh the insurance, oh the upkeep, keeping the chemicals, keeping it clean, changing the pool liners and all that comes with it,” says Boggs-Shaner.

“But COVID changed all that.”

These days, she says, buyers are more likely to greet a home equipped with a pool favorably. More buyers than before are even narrowing their search to homes with inground pools. “When COVID hit it was `Gotta have a pool,’” she says. “Everything else was closed down.”

The result: multiple bids on homes with well-maintained pools, adding value in an already red-hot real estate market. It has also created an unprecedented

SAM DONNELLON

MARKET

gage interest rates, buyers are becoming more sensitive to price points and what they are comfortable with, he said.

in a statement for the Federal Open Market Committee (FOMC).

increase.

Patrick Campbell, team leader at Compass Inc. overseeing the greater Philadelphia area, the Mainline and Southern New Jersey, said he is seeing more buyers lock into an adjustable mortgage rate, or ARM, for five to seven years in hopes rates decrease after the five-to-seven-year period.

With the increase in inflation and mort-

Traditionally, when there’s an increase in inflation [rates], there’s an increase in home prices. With that, Campbell said he understands why the Federal Reserve is increasing interest rates in efforts to “cool” and “calm” the market.

As of June 15, “Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices and broader price pressures,” according to the Federal Reserve

The Federal Reserve noted the invasion of Ukraine by Russia and related events “are creating additional upward pressure on inflation and are weighing on global economic activity. In addition, COVIDrelated lockdowns in China are likely to exacerbate supply chain disruptions.

The Committee is highly attentive to inflation risks,” the FOMC said.

In the market, the increase in inflation rates has driven up rent prices – as

continued from page 8 please see MARKET, page 26

BY: DANTE LONG

Movinginto a new home is meant to be a joyous occasion. When you unpack your bags and admire your new dwelling, the last thing on your mind is uninvited guests also making themselves at home. Your first instinct is to see them out, however, your crawling skin keeps you put while wondering what to do about the pests you’ve just discovered. Before buying or renting any property, it is important to know its condition. If the concern of rodents and insects never crossed your mind...it’s about time it has. Your guide to a clean property is here and should be a high priority.

In order to determine if there is a pest infestation in your home, it’s good to know the signs, and what’s the issue—rodents, roaches or termites, among other unwanted critters, and hopefully not all three. An obvious sign are droppings scattered about, most noticeably a sign of mice and insects. Swarms of smaller pests are signs of procreation and for termites—discarded wings and damage to wooden structures, along with doors and windows that are stuck.

The upkeep of any property relies on inspecplease see PESTS, page 23

POOLS

from page 13

demand for new in-ground pool installations, says Denise Varsolona, Service Manager with Aloha Pool and Spa Service of Medford, whether it is the fiberglass pools her company specializes in, or gunite and liner pools.

“It seems that families want some form of family entertainment at their home should a lockdown ever occur again,” she says.

That sentiment has remained, even as things opened up. For those still wary of the ebbs and flows of COVID-19 and its variants, a home-based pool avoids the exposure inherent in crowded community pools, lakes and beaches. Between new construction, weekly maintenance services, equipment repairs and retail, the pool industry as a whole “has grown immensely,” Varsola says.

The growth could be seen in other aspects as well, including equipment and chemicals that were difficult to obtain last summer, exacerbated by a reduction in staff at all major pool manufacturers and distributors. That has improved this summer. What hasn’t improved is the availability of new con-

struction. Already taxed by increased demand, pool installers like Aloha have had to put the brakes on building new pools, “Until we get firm pricing on project and pool build costs,” says Varsolona. “Everyone is being affected by the current inflation and cost of goods.”

Some additional caveats: Aboveground pools, even the nicer ones, do not add value to a home. Often it is the opposite. And while an existing pool may add value to your home price, adding a new inground pool – at a cost between $40,000 and $70,000 – will not add the same dollar amount of value to your home Boggs-Shaner says.

There is also the cost of upkeep. But the alternative of course is to join a swim club, and that’s not free. Erlton Pool Club in Cherry Hill for example requires new members to post a $450 bond, dues of $730 per season, and an additional $48 per person buy-in.

For a newly arrived family of four, that’s a total of $1,372.

That’s assuming you can get in. Many of the more desirable swim clubs, including Erlton, have wait lists – some with estimated wait times of several years. That has only added to the desirability

a backyard pool.

“I had a settlement at the end of this month and my buyers were relocating from Illinois,” says Boggs-Shaner. “They didn’t need a pool but the fact that this house had a pool was considered a plus to them. They have three kids and this is great. All summer long the kids have a pool to hang out.”

“Families are putting money into their backyards for the sheer enjoyment of knowing their home is a safe haven with the current problems in the world,” says Varsolona. “Whether it be COVID or gas prices, they can simply walk outside and enjoy their pool.”

How WINDOWS Play a Role in Buying a Home

By LAUREN LAMANTIA

When

inspecting the house you have your eye on, you may notice two aspects of the property the first time: The landscape and exterior model. However, the windows of a property play a bigger role than you may have thought.

Windows of all shapes and sizes on a house can play an important role when buying or selling, similar to exterior and interior design, remodeling and painting.

Dana Mower, who has been with Weichert Haddonfield for about two years, noted how impactful windows can be to a space.

“Natural light provides the best energy for a home,” Mower said.

The windows of a home can facilitate natural light indoors making the space feel airy and open compared to artificial light. The benefits of natural light can

please see WINDOWS, page 22

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2902 Haddonfeld Road Pennsauken, NJ 08110

www.fortunetitle.com orders@fortunetitle.com 973-226-6555

We need homes to sell. Thinking of selling? Call me for a FREE MARKET ANALYSIS. You may be surprised at the rising value!

We need homes to sell. Thinking of selling? Call me for a FREE MARKET ANALYSIS. You may be surprised at the rising value!

As a New Jersey native and full-time licensed realtor in South Jersey for over 30 years, I believe in treating clients the way I would expect to be treated. My focus is on providing you with personalized ser vice to fit your unique needs enabling you to achieve your real estate goals both today and in the future.

As a New Jersey native and fulltime licensed realtor in South Jersey for over 30 years, I believe in treating clients the way I would expect to be treated. My focus is on providing you with personalized service to fit your unique needs enabling you to achieve your real estate goals both today and in the future.

also help a homeowners lifestyle with benefits of Vitamin D, decline in seasonal depression, sleep improvements and reduce risks of fluorescent lighting.

In a post-pandemic world, another factor to consider is a window in a home office, providing those same benefits to you and to your workspace. When it comes to a workspace, natural light

has benefits in productivity to help you tackle your long todo-lists. According to Psychology Today, research shows that office workers without windows suffer in terms of overall sleep quality and sleep efficiency.

To pair with your natural light, try painting your office and window trim with light colors to help maximize the space such as gray, eggshell, white or tan. Mower noted how colors and light correlate with each other.

“It makes everything look kind of bigger and more luxurious,” Mower said.

A window in the front of a home can also open the opportunity for buyers and sellers to showcase the local beautification of the neighborhood the house is in and potential other views of parks or landscape in the surrounding area.

Similar to the front of the home, win-

dows in the rear of the house can open opportunities for families with children who can keep an eye on the backyard from multiple levels of their home.

If you are looking to buy a home for the first time, Mower noted what to keep in mind when looking at the home’s windows and how that coincides with the purchasing of the property. She noted that a potential buyer should look out for windows that are not fogged up, and focus on premium quality windows that are energy efficient.

According to the U.S. Department of Energy, energy efficient windows are an important consideration for both new and existing homes. Heat gain and heat loss through windows are responsible for 25 to 30 percent of residential heating and cooling energy use.

For already existing windows, steps to improve their efficient can be a costeffective option in checking existing windows for air leaks, caulk and weatherstrip, add energy efficiency window coverings, add storm windows or panels, solar control firm and exterior shading such as awnings, exterior blinds and overhangs.

When looking at a home during a showing, Mower noted that you can tell right away if a window is dated or a newer installment and to keep a lookout for rot on older windows that let heat and cool air escape.

She also noted that newer windows tend to be double pane glass and older ones have a lead glass.In determining if the window is letting heat or cool air escape, Mower suggested asking to see past utility bills to see what the prices are and to see if they are energy efficient as well as asking how long the windows have been installed.

In regard to window maintenance, a trick that is used to make sure there are no streaks on the windows in the preparation process before a showing is just a three step process.

“We definitely do a little bit of a windex mixture with white vinegar and to ensure that there’s no streaks on them, you actually use newspaper to clean them,” Mower said.

With newfound knowledge of what to keep in mind when looking at windows during a showing and window maintenance you can use at home, your space will be open, energetic and airy in no time.

tions. They determine if your home is able to be rented or sold, depending on the kind of inspection and the severity of the findings.

“Radon tests are common,” says Keller Williams realtor Jim DePasquale, but it is standard for buyers to get a Wood Destroying Insect Inspection also known as WDI. The purpose of this is to determine if there is a presence of wood-destroying pests in a property, which is affordable and standard. These insects include termites, carpet bees, carpet ants and wood-boring beetles that are commonly found in New York and New Jersey. Although this is unsettling news, according to DePasquale, “it is uncommon to run into these issues outside of wooded areas.” It’s an observation of his ten years’ experience as a real estate agent.

The solution to pests lies within a safe course of action that protects pets, children and even expecting mothers. One unique form of extermination, that is appropriate for the times, comes in the

form of natural green pest control courtesy of Jersey Green Mosquito & Pest Control. This South Jersey company offers a variety of options such as their eco-friendly mosquito barrier spray that fights off insectborne diseases. Another form of extermination is odorless protection that doesn’t require strong chemical use. The natural blend of essential plant oils including geranium, mint and rosemary and organic soaps are another form of eco-friendly pest control that people looking for a safe and green solution can rely on for all size homes. Considering the national shift toward green energy in the immediate future, more pest control companies may adopt these methods as well.

The condition of your home is important before and during your occupancy. This is especially true for residents of New Jersey where certain types of pests such as termites, carpet bees and carpet ants are more common than others. They need special methods of extermination that must be handled as soon

as possible. It’s one thing to ignore an infestation, but another to risk insectborne diseases because you downplayed an issue that often doesn’t go away on its own. You now have the knowledge to recognize the signs of pests along with pet and family-friendly solutions should you ever be unlucky enough to share your home with pests living rent free in your dwelling, and likely in your mind if you don’t seek to evict those little nuisances before they become bigger problems.

PHOTO 1: (L-R) Michael Roiguez, Liz Stone and David Rowcroft. Michael Roiguez - “I prefer a deck because I live on the 2nd floor and I enjoy my deck and the plants I have out on the deck.” Liz Stone - “I prefer a deck because that is what I grew up with.” David Rowcroft“I prefer a deck because I like to be elevated.”

PHOTO 2: Ash Sader “I prefer a deck because I have a deck but a wrap around would be nice to be able to walk all the way around and not get wet.”

PHOTO 3: Kristi and John Vanderslice with their dog Chloe. They Prefer “A deck because a wrap around porch wouldn’t work so for us a deck is great!”

PHOTO 4: Nicholas Gregory - “A wrap around porch for sure! I just love them so much and you can stay dry with a wrap around porch.”

PHOTO 5: Barb Kennedy with dog Aggi. “ I prefer a wrap around porch because I can sit and stay cool.”

PHOTO 6: Father and daughter - Jeff and Katie Miglin. Jeff prefers a wrap around porch “so I can look out and people watch.” Katie prefers a deck “If it was on a lake I would prefer a deck so I could look out over the water.”

PHOTO 7: (L-R) Chris Altum and Tori Stauffer withdog Isabella: Tori says “ I like the look of wrap around porches, they remind me of a beach town.”

PHOTOS BY JAMIE GIAMBRONE

MARKET

continued from page 14

much as 10 percent - in the Center City District in Philadelphia in the past year, Campbell said.

“As rents go up, it makes buying more attractive,” said Campbell.

For William Young, of Willingboro, he and his wife have been watching the market for four to five years as they want to “build a legacy” for their children and “invest in their futures.”

More recently, they closed on their first property within two weeks and are currently working with Arnold to find the right investment.

With an ever-changing market these days, which he called “really odd,” Young said it was great to have someone like Arnold at the forefront of their journey.

The FOMC is committed to returning inflation to its 2 percent objective and seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of the goals, the committee decided to raise the target range for the federal funds rate to 1.5 to 1.75 percent and anticipates that ongoing increases in the target range will be appropriate, according to the Federal Reserve.

In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in the Plans for Reducing the Size of the Federal Reserve’s Balance Sheet that were issued in May.

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