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Top 4 Home Renovation For Maximum Return On Investment (ROI)

Renovation for Max Return On Investment

Renovation For Maximum Return On Investment

Renovation For Maximum Return On Investment

Top 4 Home Renovations for Max ROI [INFOGRAPHIC] | Simplifying The Market

Renovation For Maximum Return On Investment  Highlights:

  • Whether you are selling your home, just purchased your first home or are a homeowner planning to stay put for a while, there is value in knowing which renovation projects will net you the most Return On Investment (ROI).
  • A minor bathroom renovation can go a long way towards improving the quality of your everyday life and impressing homebuyers.
  • Adding curb appeal by upgrading your landscaping helps get buyers in the door.  These upgrades rank as the 2nd and 4th renovation for returns on investment.


If you are searching for a Bergen County Realtor contact Steven Batista at 201-207-5217. I help with all your real estate needs.


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4 Reasons Why Summer Is a Great Time to Buy a Home!

Summer Is a Great Time to Buy a Home

Summer Is a Great Time to Buy a Home

Summer Is a Great Time to Buy a Home

Summer Is a Great Time to Buy a Home and here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights reports that home prices have appreciated by 7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have increased by half a percentage point already in 2018 to around 4.5%.

Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by nearly a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage.

Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life.

As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by the price of the home and the current mortgage rate. It appears that both are on the rise but what if they weren’t? Would you wait?

Look at the actual reason you want to buy a home and decide if it is worth waiting.

Having a great place for your children to grow up, safeguarding your family in a good neighborhood or having control over renovations are the most common reasons why homebuyers are choosing now to buy a home.

If the right thing for you and your family is to buy a home this year, buying sooner rather than later could lead to substantial savings.

Summer Is a Great Time to Buy a Home


For all your real estate needs, contact Steven Batista at 201-207-5217 and start the home buying process.

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Selling Your Home On Your Own Could Cost You

Selling Your Home On Your Own Could Cost You!

Selling Your Home On Your Own Could Cost You.  In this extremely hot real estate market, some homeowners might consider selling house by owner. This is known as a For Sale by Owner (FSBO). 

FSBO's rationalize that they don’t need a real estate agent and believe that they can save the commission for the services a real estate agent offers

Selling a house in Bergen County NJ is a full time job which requires a full time Realtor.  When a home owner assumes the position of a Realtor when selling home by owner is asking for trouble. 

As your Bergen County Real Estate Expert, I offer free comparative market analysis.  Home owners don't have access to this critical information when selling home by owner.  The goal is to protect your equity. 

There are several tasks a home owner has to undertake when selling home by owner. Having a real estate education, finding a homebuyer who's pre approved for mortgage is a small part of the process.  Scheduling showings when you sell your own home and opening your doors to homebuyers can potentially lead to theft. 

Please review the article entitled, "How To Protect Your Home When Showing It To Potential Buyers," by Lee Nelson.  

Once a buyer is willing, ready and able to purchase a home from a FSBO, a contract must be executed.  The contract Realtors use is The Statewide New Jersey Realtors Standard Form Of Real Estate Sales Contract. 

Collecting the earnest money deposit and placing it in the sellers attorney's escrow account is next. 

We move on to attorney review which can extend itself well beyond the three day attorney review period.  A buyer can back out at anytime during the attorney review period and the home inspection clause. 

If the home buyer can't secure a mortgage loan the deal will fall apart.  Let's say the home buyer obtains a mortgage commitment the next process is to confirm they secured home insurance. 

Hiring a title insurance company to clear title, getting the Certificate of Occupancy and collecting deposits will lead to closing.

A for sale by owner will go through great lengths to save on the real estate commission.  Some home sellers wonder how they can list house on MLS (Multiple Listing Service).  Listing with MLS has to be done with a licensed Realtor. 

After some research online they encounter Realtors who offer a MLS flat fee listing  to advertise their home.  Some Realtors will charge a for sale by owner as little as $99.00.  Imagine the diluted service a for sale by owner will receive when they subscribe to that.  I recall the old adage, "you get what you pay for."  A flat fee MLS listing may cost the for sale by owner thousands of dollars. 

Contracting a Bergen County Real Estate Expert like myself, gives a FSBO a chance to actually sell their home.

A study by Collateral Analytics reveals that FSBOs don’t actually save anything. In some cases they may be costing themselves more by not listing with an agent.

In the study, they analyzed home sales in a variety of markets. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” (emphasis added)

Selling Your Home On Your Own Could Cost You

Why would FSBOs net less money than if they had used an agent?

The study makes several suggestions:

  • “There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
  • “Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
  • “Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.

Conclusions from the study:

  1. FSBOs achieve prices significantly lower than those from similar properties sold by Realtors using the MLS.
  2. The data suggests the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

As Dave Ramsey, America’s trusted voice on money, explains:

“Research has shown that, between mistakes, lack of negotiating skills, pricing errors and general exposure on the market, you’ll cost yourself more than the real estate commission…You’ll come out slightly better and with a lot less hassle if you use a top-shelf agent.”

Looking for a Teaneck real estate agent, contact Steven Batista at 201-207-5217.  Start the home selling process Today.

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Getting a Pre Approved Mortgage

Getting a Pre Approved Mortgage Should Always Be Your First Step

pre approved mortgage

When starting the home buying process, some homebuyers research how to get a preapproved mortgage. Getting a pre approved mortgage should always be your first step.

In many markets across the country, the number of homebuyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where homebuyers often need to stand out.

One way to show you're serious homebuyer is to get a pre approved mortgage before starting your home search. Even if you're in a non-competitive market, understanding your budget will let you know if buying a home is attainable.

Freddie Mac lays out the advantages of a pre approved mortgage in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the advantages of working with Bergen County Realtor, Steven Batista, is that I have many relationships with lenders. They will be guide you through the process and help you obtain a pre approved mortgage.

Once you have selected a lender, you will need to fill out their loan application. You'll have to provide your lender credit reports, debt, employment history, down payment and residential history.

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre approved mortgage is one of many steps that will show home sellers that you are serious about buying. It often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential homebuyers overestimate the down payment and credit scores needed to qualify for a mortgage today.

If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.

If you are searching for a Bergen County Realtor, contact Steven Batista at 201-207-5217  I help you find your dream home in Bergen County NJ.


Source: Keeping Matters Current