As the internet continues to make more and more information available to all of us, there is no doubt that it gives us all a little empowerment.
If you are a Realtor, like I am, you may initially be fearful of losing your ability to find clients that will chose you as their agent. There is one way to even the playing field: Know your market, Demonstrate your knowledge and experience and provide added value for your clients!
One example is that I often find is that potential buyers search for homes on sites like Zillow and Trulia; I love these sites and I am also a Premier Agent for both of these companies. However, these sites often have outdated information that leads to the impression that homes that are no longer actually available are still on the market. This can lead to frustrated buyers, so I highly recommend that they be put on local MLS automatic email campaigns that show new homes as they occur, updated status and price on homes previously identified and then also provide a weekly snapshot of every home that is active that falls within the parameters set by the buyer.
Now, here is a more tricky (and real life) example that comes up at least 5x per year. You get an idea of how much you can afford to spend on a home, but your search is relegated to price and size without taking the taxes into consideration. While you might expect the playing field to be level, your search can be dramatically impacted by the amount of taxes reported on the various homes.
I have a client that called me this morning to ask to see 2 homes. The first home that caught her eye was asking $165,000 for an 8 room 4 bed home and the second home was asking $225,000 for a similarly sized home. On face value, it would look like you are getting more for your money if you bought the $165,000 home. However, the taxes on the less expensive home were reported as slightly over $10,000/year while the taxes on the more expensive home were a touch over $6,000/year. If you use current interest rates, every extra $1,000.00 in annual taxes translates into about $10,000-$11,000 less you can spend in purchase price if you are holding to a monthly PITI–Principal, Interest, Taxes and Insurance. Because I like to keep within my client’s budgets, I redesigned my website to provide easy access to a mortgage calculator that allows my clients and customers to play with numbers to see what will work. MORTGAGE CALCULATOR
So, Bring the point to a conclusion, the $165K home would have cost my client $1,706/month whereas the $215K home would have cost my client $1,607/month with more of her money being put into real estate and less into the taxes. Here are the screen shots to show you what I found and what I shared with my client:
$165,000 home with $10,000 in annual taxes:
$215,000 home with $6,000 in annual taxes:
I hope this helps you!
Selling a Maplewood/South Orange/Millburn/Short Hills area home involves many steps and having an experienced Maplewood New Jersey Real Estate Agent and Realtor®, specializing in the Bedroom Communities of New York City in Essex/Union County–Millburn, Short Hills, Montclair, West Orange, South Orange, Livingston, Maplewood, Springfield, Summit, Madison, Chatham, Scotch Plains, Fanwood, Cranford and Westfield–by your side, he will make the transaction run a lot smoother. I would love to be your Maplewood/South Orange New Jersey Area Real Estate Professional! I assist both buyers and sellers in the Bedroom Communities of New York City, mostly served by NJ Transit’s Mid-Town Direct Train Lines, offering commutes of 45minute or less to NY Penn Station, with either the purchase and or sale of residential real estate.
As an Accredited Buyer’s Agent (ABR), I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home. My GO-TO team can provide you the best in Real Estate advice with regard to attorney choices, Home Inspectors and Mortgage Loan Officers
With Mark Slade as your Maplewood/South Orange/Millburn/Short Hills/Essex/Union County New Jersey listing agent I am well versed as your local expert in all things in the Maplewood and South Orange area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your Mid-Town Direct home to be competitive in today’s market with training to provide my clients with an in-depth Advanced Comparative Market analysis, and advice on staging. As my office’s technology officer as well as both a Zillow Platinum Premier and Trulia Premier agent, I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your New Jersey Real Estate Agent and Realtor ® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor and advocate and making sure that your needs and goals are met. Being your New Jersey Essex/Union County area Realtor® (with a little bit of Morris County thrown in for good measure) is one of my truest passions, and “Helping You Find Your Dream Home” is my number one priority.
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