Emil Ratti
Sales Associate

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Certified New Home Specialist

Residential Construction Certified

Senior Real Estate Specialist

Northern NJ Housing Stats
Newsletter

May 2019

 


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Brettonwoods of Paramus

 
June Holidays  
 

June 6 D-Day
June 8 Belmont Stakes
June 14 Army Birthday & Flag Day
June 16 Fathers Day
June 20 American Eagle Day
June 21 June Solstice
June 28 National Tapioca Day

April Housing Stats
Click To view local Monthly Housing Stats 2011 - 2019
 

Market Absorption Rate 
See each county below. 

Seller's Market

Normal Market

Buyer's Market

2 3 4 5 6 7 8 9 10
An Absorption Rate of  7 or higher is a Buyer's Market
Bergen County
Absorption Rate =  
3.7  
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
1500
579
$555,521
74.5
Essex County
Absorption Rate =   3.95
 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
1064
464
$506,713
62

Passaic County
Absorption Rate =   4.4
 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
606
254
$332,823
62
Morris County
Absorption Rate =   5.2
 
Normal Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
1255
449
$482,701
57

Sussex County
Absorption Rate =   6.07
 
Normal Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
477
190
$241,443
87
New Jersey
Real Estate

Public State and County Reports

What not to store in the basement

Finished and unfinished basement storage can be tricky. Follow a few rules to make sure you keep the right things in your home's lower level. Read here...


Perfect your home office

According to data released from the U.S. Census, approximately 8 million Americans are trading in the traditional office life to working from home. This spike in remote jobs results in the need for home office space. Where you get your work done can and should be customized to your best working conditions because after all, it is your home. Here are some tips for making your home office your inspiration sanctuary. Read here...


Gov. Murphy Signs Legislative Package to Assist with Foreclosure Dilemma

On Monday, April 29, Gov. Murphy signed a legislative package to assist with New Jersey's foreclosure dilemma. Currently, New Jersey has the highest rate of foreclosures in the nation and the new laws aim to create a long-standing program to help homeowners receive the best possible outcome. The governor signed nine laws which can be found here.


NJ HOMEOWNER'S GUIDE TO PROPERTY TAXES

A comprehensive, yet simplified look at property taxes in the state of New Jersey.
Perfect for the first time-time and repeat buyer alike. Download/Open PDF report file


Senior Resources
AARP - Main web site 
AARP - New Jersey Web Site
NJ Department of Health & Senior Services
NJ Senior Services 
NJ Frequently asked questions
NJ Seniors Golf Association - Tournaments
Retirement Living Resources
Long Distance Moving Guide 
Mortgage Refinance Companies


The following are updated monthly...  
 
New Jersey School Reports
Seniors Monthly Newsletter

 
Mortgage Calculator
 


Seller/Buyer Tips 

Not just for curb appeal, the Front Yard is gaining clout

Homeowners are showing more love for their front yards, carving out a spot to mingle with neighbors and relax. A new article at realtor.com® says front yards and porches are among the hottest outdoor trends of the season - a trend that is stretching way beyond just Southern states.  Read here...


Mistaking Re-finance Appraisals for the Market Value

Unfortunately, a re-finance appraisal may have stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your realtor for the most recent information regarding Property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.


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Updater will save you time, money, and headaches during your move. But, it's invite -only. Click HERE for an invitation and take advantage of this FREE service.


Urban Target Areas (UTAs)
Urban Target Areas (UTAs) are designated by the U.S. department of Housing and Urban Development (HUD). The benefits of buying a home in a Urban Target Area are as following:
  • Higher income limits are permitted in qualifying for a loan
  • Higher housing purchase prices are permitted
  • There is no first-time homebuyer requirement

To see what areas in New Jersey are designated as Urban Target Areas, use the Site Evaluator Tool.

Click To view local Monthly Housing Stats 2011 - 2019

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions.

·  Always personally verify wire instructions.

·  Use only phone numbers that have called before or can otherwise verify are legitimate.

·  Be very suspicious of emails and phone calls with purportedly updated, revised or corrected wiring instructions. It is extremely rare that a lawyer or title agent will change wire instructions during the course of a transaction.

Emil Ratti
Sales Associate
Certified New Home Specialist
Residential Construction Certified
Senior Real Estate Specialist


E-Mail

www.BCNJRE.com
www.NJCondoTownhomes.com


 

REALTOR® -- A Registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS ® and subscribes to its strict Code of Ethics. Inquiries regarding the Code of Ethics should be directed to the board in which a REALTOR® holds membership.

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