Wednesday, December 26, 2012

Money-Saving Energy Tips for Your Millburn-Short Hills Home!

According to the U.S. Department of Energy, a New Jersey resident spends an average of $3,834.13 a year on combined energy costs. While there isn't much we can do about utility rates or cold winters, there are easy, cost-effective ways to reduce the energy consumption in our homes! Here are some tips I put together from Energy.gov:

1. Allow sunlight through your windows during the day. Even a few hours of natural sunlight can help keep your home warmer. At night, shut curtains and blinds to help trap in heat.

2. Use seasonal window treatments. In the winter, make use of heavy drapes and blinds that close tightly. 

3. Use foam weather stripping inside of door frames to prevent drafts.

4. Drafty windows should be caulked, or sealed with a clear plastic sheet around the interior frame.

5. If you have a fireplace, keep the damper closed unless you have a fire going. Check the seal around the damper to make sure it closes snugly. If you have a fireplace that you never use, plug and seal the chimney flue.

6. Turn down the temperature on your hot water heater. A hot water temperature of 120 degrees should be adequate for household use. Heating your water can account for 14% to 25% of the energy use in your Millburn-Short Hills home!

7. Turn back the thermostat by 5 or 10 degrees while you are sleeping, and whenever you plan to be away from home for a few hours.

8. When cooking, avoid the temptation to repeatedly open the oven door and check on the progress of your dish. Set timers and use meat thermometers to cut down on the peek-and-guess cooking method.

9. Install water-saving shower heads.

10. If you're not already using them, replace your standard light bulbs with CFL bulbs. CFL's have come a long way since their beginnings and use 75% less energy than traditional bulbs!

As your Millburn-Short Hills real estate professional, I'm happy to share these money-saving energy tips for your home! And whenever you are thinking of buying or selling a home, I'll be happy to help you! Contact me today, and let my 18 years of experience give you the advantage in our real estate market!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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Wednesday, December 19, 2012

How the "Fiscal Cliff" Could Affect Home Buyers in Millburn-Short Hills

If you have plans to buy a Millburn-Short Hills, NJ home in the upcoming year, you may be a bit concerned about the "fiscal cliff" debate that has been going on in Washington D.C.  While there is still hope for a compromise between lawmakers, if there is no deal before January 1st, 2013, a ream of automatic tax increases and Federal budget cuts will occur.

These could affect home buyers in Millburn-Short Hills and  Summit, NJ in several ways. Most immediately, payroll tax withholding will go up, which will affect wage earners across the board. Next, your income tax filing in 2014, for the tax year 2013, could result in fewer deductions and a potentially higher tax bracket. These changes won't directly prevent you from buying a home, but it could mean changes to your budget.

I'm sharing this infographic from Bankrate.com, which explains the impact of the fiscal cliff to individual taxpayers.


It should also be mentioned that if you sell your Millburn-Short Hills home any changes to capital gains tax rates will not change the allowed exemptions. For example, if you have lived in the home at least 2 out of the past 5 years, the first $250,000 in profit is exempt for single filers. If you are married filling jointly, that exemption becomes $500,000. So far, nothing in the budget debate affects this.

Naturally, all this information could change if a new Federal budget deal is approved in the upcoming weeks. In the meantime, this gives you a basic guideline so you can discuss any concerns you may have with your professional tax preparer.

As your Millburn-Short Hills real estate professional, I can help you buy or sell a home no matter the market conditions! Contact me today, and let my 18 years of experience be your market advantage!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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Wednesday, December 12, 2012

How to Sell Your Millburn-Short Hills Home During the Holidays!



There are strategic advantages to selling your Millburn-Short Hills home during the holidays. Serious buyers are home shopping, and inventory is lower. The holidays are a popular time for vacations, and you could have buyers from around the country, or the world, looking for homes right here in Millburn-Short Hills! Your home interior may also look its best this time of year.   

If you have your Millburn-Short Hills home on the market during the holidays, make the most of the unique opportunities of the season by following these simple steps!

1. Decorate tastefully. A large, decorated tree can make a room appear smaller. Too many decorations can overwhelm a buyer’s senses and distract them. 

2. Minimize or remove religious decorations prior to a home showing. This is a personal decision on your part; keep in mind that you want buyers of all walks of life to feel welcome. This doesn't mean you can't display a nativity scene, but perhaps a small display in the house is better than a large, plastic, light-up scene in the front yard.

3. Keep clutter under control. Shopping bags and rolls of gift wrap should be out of sight. Clean up the kitchen promptly after baking projects. Keep plenty of open space visible on the kitchen counters.

4. Keep your home clean and be ready for short-notice showings. Buyers may have vacation time during the holidays, but that time is limited.  If they are interested in your home, be flattered, instead of feeling inconvenienced. 

Another great way to sell your Millburn-Short Hills home is by letting me help you! As your Millburn-Short Hills real estate professional, I will provide the expert guidance you need for a successful home sale. Real estate is a four-season business and I can help you sell your home any time of year, in any market!  

Contact me today, and let my 18 years of experience be your market advantage!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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Wednesday, December 5, 2012

Pricing Advice for Millburn-Short Hills Home Sellers

Getting ready to sell your Millburn-Short Hills home in 2013? You're not alone! Real estate surveys conducted during 2012 indicated that many homeowners are waiting until 2013 or later to sell. The reason? A common expectation of higher home prices.

There is nothing wrong with wanting to make a profit, or recover equity. However, the surveys also revealed that some would-be sellers have unrealistic expectations. For example, 32% of homeowners said they would list their homes for a higher price than what the market comparisons suggested.

Here is why over-pricing a home usually backfires:

1. Most home buyers need mortgages, and mortgages require appraisals. If you find a buyer who will accept your price, the appraiser is still going to use market comparisons to determine value. If the appraisal falls short, there's no mortgage, and no sale.

2. Thanks to the internet, buyers can compare your home to others in the same price range, in a matter of seconds. During those few seconds, they will make quick decisions based on price and photos. If your home doesn't appear to measure up for the money, they will discard it from consideration.

3. The first 30 days on the market are critical. Homes that are priced correctly create "buzz" in the market and receive attention from home buyers and real estate professionals. The more interest, the more showings, and the better chance of a good offer in a short period of time.

4. An over-priced home will be avoided and linger on the market. Eventually you are compelled to reduce the price. Even then, your home will not draw strong interest nor strong offers, as the extended days on market have created negative assumptions about the property.

The good news is, you can sell your Millburn-Short Hills home for top dollar, by understanding what "top dollar" is in our market! I will help you, by providing a comparative market analysis, along with details about recent home sales in your neighborhood. I will also provide proven marketing strategies for results!

As your Millburn-Short Hills real estate professional, I will provide the expert guidance you need for a successful home sale! Contact me today, and let my 18 years of experience be your market advantage!

Elaine Pruzon
Coldwell Banker Residential Brokerage
Visit My Website
See My Listings
Become My Fan on Facebook
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Contact Me