Checklist for Millburn-Short Hills Home Sellers!

If you’re preparing to sell your Millburn-Short Hills home this fall, congratulations! With homebuyers eager to buy before mortgage rates and home prices continue to rise, you’ve got a good chance of selling your home fast. Plus, inventory is still relatively low, so you might get multiple offers.

It’s important to be familiar with the steps in the home-selling process before you’re right in the middle of it. BHG Real Estate shared a basic seven-step checklist for home sellers. As a New Jersey real estate agent, I’ll go into detail for you about each one:

1.  Hire a real estate professional! Right away, you’ll create a trusting partnership with a professional, who can walk you through each step of the home-selling process. You’ll discuss market trends, recent sales, realistic expectations, timelines and next steps. You need to find a good match, so don’t be afraid to ask questions! As a Millburn-Short Hills real estate agent, I’m always willing to answer any questions you have.

2.  Set price expectations. You and your agent can work together on this. Determine what you need to net from the sale. Find out what your home is worth. Have your agent share with you what other homes like yours are selling for in the Millburn-Short Hills area. Consider an appraisal, which will let you know if there is any damage that needs to be dealt with.

3.  Declutter. This is a step that every home seller needs to take but that most dread. Over the years, we accumulate a lot of stuff! Potential homebuyer don’t want to see that stuff. They want to see a move-in-ready home that looks like a model. So clean out all your closets, cabinets and storage spaces and get rid of whatever you can. Make the home spotless.

4.  Host a garage sale. This is a great idea for those of you who end up with a lot of items to get rid of after you declutter. Rather than just tossing them, you might as well try to earn some cash for them! This could be put aside for closing costs, moving costs or home repairs. Also, you could let garage sale customers know that you’re selling your home. They can spread the word!

5.  Pump up curb appeal. Potential homebuyers see the outside of your house before anything else, so you want it to look memorable and inviting. Keep your lawn green and lush, but also mowed and manicured. Trim your trees and bushes. Plant blooming flowers in your gardens, or place flower pots on your front porch. Power wash your exterior. Hang a welcome sing on your front door.

6.  Transfer or cancel utilities and insurance. You want to do this after you have a homebuyer or after you have bought your next home. You don’t want a surprise bill coming in the mail after you have moved out!

7.  Get prepared for the closing. This includes bringing keys and remotes and other items that might not even cross your mind. As your New Jersey real estate agent, I can prep you for this and let you know what you need to do.

Selling your Millburn-Short Hills home is an exciting adventure! Let me help walk you through the process and support you every step of the way. Contact me!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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Plan for Success When Remodeling Your Millburn-Short Hills Home!

Ready to remodel your Millburn-Short Hills home? If you answered "yes", you're in good company! A recent survey by home remodeling site Houzz shows that 53% of homeowners agree that now is a good time to remodel. 

The most popular remodeling project involves kitchens, and Americans spend an average of $28,000 on this area of the home! But before you get out your checkbook, you will need to have a plan in mind. Here are some planning tips to help you!

Identify the main goals. Are new kitchen cabinets a must? Do high-end appliances make sense? Your wish list might be bigger than your budget, so start by deciding the priorities. List everything else to the side.

Decide your timeline for completion. Are you selling your home in the near future? Are you expecting to entertain guests? Have a realistic timeline for completion. Make sure to factor in some cushion for unexpected delays. 

Determine your budget. Do you have the financing available or funds set aside to comfortably tackle your project? Estimates, after all, are only estimates!

Interview contractors and obtain several estimates. Beware of bids that are too cheap compared to the running norms. The contractor may be cutting some serious corners to make that bid possible, or he may plan to “surprise” you with extra charges along the way.

Compare the estimates to your budget. Are you still in business? Can you afford the little extras? Do you need to finance more of the project than expected? 

Revisit your list of contractors and make an informed choice. Ask for referrals, and check them out against the Better Business Bureau. Also, personality counts! Don’t hire someone that rubs you the wrong way, no matter how good their prices are. It will only add stress to your experience.

One more tip - before you commit dollars to your project, be sure to have realistic expectations about what you may recover when you sell your home. See my blog post from January 30 that talks about the average return on investment for home improvements. 

If you are preparing to sell your Millburn-Short Hills home, start with a comparative market analysis to find out your home's price range in today's market before you remodel. I will also provide you with a net sheet to show your estimated proceeds after the home sale. I will counsel you on what improvements are most likely to benefit your home sale and your bottom line!

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
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7 Reasons to Get Your Millburn-Short Hills Home on the Market Now!

Could the months of January and February 2013 be the new "peak season" for home sellers in Millburn-Short Hills, Livingston and Summit, NJ? Yes! Here are 7 reasons why you should place your home on the market now!

1. Homes are selling faster! The absorption rate for Union, Essex and Morris/Somerset counties combined is at 5.52 months of supply! This is a 33% drop in home inventory from January 2012!

In the most popular towns within the above counties, home inventory currently stands at only 3.39 months of supply! We have a seller's market in most areas!  
                                                                    
 2. The economy is stronger! The S&P stock index is 6% from its all-time high! Employment has improved around the country, and consumer sentiment has also improved.

3. The tax changes resulting from the first half of "Fiscal Cliff" budget talks have proved to be modest, keeping the Bush-era tax cuts in place for most taxpayers. 

4. Mortgage interest rates are at all-time lows, with 30-year fixed rate mortgages available under 4% for well-qualified borrowers. 15-year mortgage rates are also incredibly low, making it feasible for home buyers to plan for mortgage-free living!

5. Home builder positive sentiment is at a 5-year high!

6. Our local home inventories are at a 7-year low! There are more buyers than homes!

7. We are having a mild winter, and home buyers are looking at homes for sale now!

If you are thinking of selling your Millburn-Short Hills or Summit, NJ home, don't fall for the gimmicks of "discount" brokers. As the #1 agent in the Millburn-Short Hills market from 2010-2012, I know how to sell your home for the best possible price, while covering all the details to ensure a smooth transaction!

Curious about your home value, or getting ready to sell? We will begin with a comparative market analysis to find out your home's price range in today's market. I will also provide a net sheet to estimate your sales proceeds after the customary expenses, so you know your position. These services are all part of my professional listing presentation, which I offer for free, with no obligations and no pressure!

As your Millburn-Short Hills real estate professional, I will provide expert guidance for a successful home sale. Real estate is a four-season business - I can help you sell your home in Essex and Union County any time of year, in any market!

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

Elaine Pruzon
Coldwell Banker Residential Brokerage
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5 Easy Ways to Catch Home Buyer Attention in Millburn-Short Hills NJ!

It's a New Year! If selling your Millburn-Short Hills or Summit, NJ home is one of your goals for 2013, I can help! In fact, I have 5 tips for attracting home buyer attention that you can put to use right away. I'll get to those in a moment!

First, I want to let you know that before you spend money on home updates, you should obtain a comparative market analysis to find out your home's price range in today's market.

You should also obtain a net sheet that estimates your proceeds after expenses are subtracted from the sale. This is all part of a listing presentation, which I offer for free, and with no obligations.

Even if you are not ready to sell this instant, getting this data now helps you make wise decisions about where to spend money on updates - or if you should spend money at all. Having some idea of your home's competitive position on the market gives you a starting point. When you are ready to sell, we will update the CMA and the net sheet before you determine a listing price.

Whether you are thinking of selling or your home is already on the market, here are some inexpensive ways you can draw home buyer attention!

1. Look at your home objectively. Take exterior and interior photos, and imagine a buyer looking at these photos online. What stands out, for better or worse? If you see clutter, garbage cans and overgrown shrubs, start by removing these negative impressions.

2. Exterior details are the first thing your buyer will notice. Look at your exterior lighting, mailbox, house number, front door, welcome mat, ect. They should be in good condition and be attractive accents. A handsome front door with gleaming hardware makes a great statement. Worn-out storm doors should be replaced.

3. Kitchen updates provide the most return for the money. You can make simple changes to update the appearance, such as painting cabinets and drawers and installing new handles. De-clutter counter tops and cabinets. Over-stocked kitchens look smaller than they really are.

4. Make room in your closets and storage areas so that buyers can see open space. If you're full to the brim, buyers may assume your home lacks adequate storage space. You may need to store some belongings at the home of a friend or relative, or temporarily rent a storage unit.

5. Add interior details for color, vibrancy and a sense of "new."  Seasonal, silk floral arrangements or fresh flowers brighten any table. Set the dining room table as if welcoming guests. Each room should have a focal point, and you can flip through home decor magazines for great ideas. Display new guest towels in washrooms, add new accent rugs to the floor.

These are just a few ideas to get you started. I will be happy to provide suggestions specific to your home!
 
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 - I can help you sell your home in Essex and Union County 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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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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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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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
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Staging your Millburn-Short Hills, NJ home

A major part of selling your Millburn-Short Hills, NJ home is staging.  Staging, quite simply, means making the house look nice.  Ideally, potential Millburn-Short Hills, NJ home buyers will walk into your open house and be able to immediately imagine themselves living there.  That is a lot easier for them to do when the house is free of clutter and looks like a place buyers would want to live—clean, comfortable, and well-designed.  Some people hire professional stagers, others get help from their realtor, and many sellers do it themselves.  Regardless of which route you go with staging, here are some general guidelines worth following:

Don’t forget about the outside

Outdoors is where your staging should begin.  This is what people see first, and if they don’t like it, they’ll keep on driving.  The grass should be cut short and nothing should be left in the yard or driveway, including garbage cans, bicycles, toys, gardening tools, etc.  Planting flowers or setting a potted flowering plant by the front door is an attractive touch.

Remove everything unnecessary

Paring down everything you own helps your home look less cluttered and larger.  If you don’t want to actually get rid of stuff, take out a storage unit for the time being.  Each room should have only what is necessary.  For example, the living room might have a couch, coffee table, and two chairs.  A bedroom might simply have a bed and dresser.  The less of your stuff potential buyers see, the more of their own things they can imagine in a room.

Clean, clean, and clean some more

When you clean your house for a staging, it needs to reach hotel-level cleanliness.  Every little detail adds to the impression home buyers get, and things you might not normally notice could make the house look bad.  A spider web in the corner or smudges on window glass might leave buyers subconsciously thinking the house hasn’t been taken care of well, or isn’t in great shape.  If you don’t like cleaning, hire someone!

Spend a little to make a lot

Investing a bit of money up top in order to repaint walls and spruce up the place is worth it.  A new rug and throw pillows can transform a living room and make it look up-to-date.  Ask your realtor for advice on staging—he or she will have knowledge on what works and what doesn’t work.  Any time you’re having an open house, buy a bouquet of flowers for the dining room table (and maybe a second one for the living room!). 

Hopefully these tips will help you sell your Millburn-ShortHills, NJ home for the price you’d like.  Many sellers don’t realize that these little touches can make a big difference in selling time and price.  If you’d like more information, or need help with buying or selling in Milburn-Short Hills, NJ, please contact me.  Have a good week!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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Get That “Lost Hour” Back in Millburn-Short Hills!

This Sunday, many in the Millburn-Short Hills area were disoriented when they woke up and had to set their clocks ahead one hour. Think of everything that you could have done with that lost hour. With the Millburn-Short Hills spring real estate market just on the horizon, I’m sure there are many sellers and buyers in the area that would have appreciated the extra sixty minutes to prepare themselves for the transaction ahead. As a Millburn-Short Hills real estate agent, I consider it part of my job to help my clients get as prepared for their next buyer or seller transaction as possible. Since the market is about to get busy in just a few short weeks, I thought that I’d take a different approach with my blog this week: how can you get that lost hour back?

For Millburn-Short Hills home sellers, it’d be ideal to spend the time getting your property prepared for sale. These time-saving home improvement projects will help you save a few minutes on what otherwise would have been more time-consuming tasks. When your home is ready to be shown earlier than the competition’s; you’ll find yourself getting an offer sooner rather than later.

If you’re looking to repaint, use a combination primer-paint. You know the drill: you lay down the tarp, put primer on the walls, wait for that to dry, paint the walls, and wait for that to dry. This process can take hours if you don’t know how to use your time efficiently. By using a combination primer-paint, not only are you saving gallons of primer and paint that you would be otherwise putting on the walls and all over your floor, but you will also be saving hours of time. Most Millburn-Short Hills sellers need to repaint at least one room in their home, so save yourself some time by using this productive tactic.

Get rid of garden weeds quickly and easily. Curb appeal is one of the most important things when you begin to prepare your Millburn-Short Hills home for sale. Your home’s exterior is what is going to make a strong first impression and make a buyer decide whether or not they want to come inside and take a look. If your garden looks overgrown and filled with weeds, it will make your property look slightly neglected. The solution? Push weeds down into the garden bed by spreading pre-emergent herbicides throughout. Those garden pests will grow slower, and you can control what weeds you do have easily.

If you use these two time-saving techniques when preparing your home to be listed on the Millburn-Short Hills real estate market, then you will find that you’ll get that “lost hour” back in no time. You can spend it doing other things to prepare your home for showings or taking some time off from real estate preparations to relax. Either way, the disorientation of Daylight Savings Time has come to an end, and you can start using that hour to be productive.

If you have any questions about how to best prepare and market your home on the Millburn-Short Hills real estate market, don’t hesitate to contact me! I’d be happy to discuss your options with you. I hope to hear from you soon!


Elaine Pruzon
Coldwell Banker Residential Brokerage
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