Emil Ratti
Sales Associate

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Certified New Home Specialist

Residential Construction Certified

Senior Real Estate Specialist

 

 

 

 

 


 Happy Thanksgiving


CLICK below to view

 Allendale Brook Estates 

 
December Holidays  
 

December 2 Cyber Monday
December 4 National Cookie Day
December 7 Pearl Harbor Day of Remembrnce
December  8 National Bartender Day
December 13 National Ice Cream Day
December 14 National Guard Day
December 25 Christmas
December 31 New Year's Eve

October 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:
1112
777
$553,239
67
Essex County
Absorption Rate =   4.6
 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
732
476
$460,312
53

Passaic County
Absorption Rate =   4.79
 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
409
328
$354,902
57
Morris County
Absorption Rate =   5.49
 
Normal Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
794
543
$493,814
60

Sussex County
Absorption Rate =   6.37
 
Normal Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:
351
265
$249,119
68
New Jersey
Real Estate

Public State and County Reports

Boozy Cupcakes
A new purpose in life

Who said there are no second acts?

Finding himself bored with retired life, 93-year-old Ray Boutwell launched Boozy Cupcakes in Vorhees County, New Jersey. 

Running the bakery that specializes in booze-infused cupcakes has given him a purpose in life and, he says, “ keeps the obituary away.”

Boutwell tapped his home equity to fund the bakery and he’s signed a lease for space next door to expand the business.

Cheers to second acts.

See a CBS story for more on Boutwell’s business here https://bit.ly/2N3Uz1x and here https://cbsn.ws/32N9tA9


Open Floor Plans

Open floor plans continue to be a popular preference among younger buyers. However, not every generation has the same feeling towards open concept living as millennials. According to a survey done by Realtor® Magazine, 40 percent of Gen Xers, 37 percent of baby boomers, and 29 percent of seniors desire an open floor plan.

Read full article...


Keep an eye out for Gen Z

Though a tremendous amount of attention has been paid to Millennials, it’s time to keep an eye on Generation Z – those born between 1997 and 2012. Eventually they’ll be flexing their muscle in the housing market, and cities need to be prepared for their arrival.

Nestpick, a search engine for mid-to-long term furnished apartment rentals in 200-plus cities around the world, recently took a look at the world’s top cities to see how well they served Generation Z’s interests, needs, and habits.

It started by studying a list of prominent international cities and ranked them based on 22 factors (each factor was given a score out of 100) important to this demographic group.

They included digitalization (e-banking and connectivity); how well a city serves Gen Z’s principles (social equity, internationalism, and climate commitment);  leisure (e-gaming, events, and concerts); and business – the entrepreneurial spirit fostered by a city.

The top five cities for Gen Z:

1. London

2. Stockholm

3. Los Angeles

4. Toronto

5. New York

The other Canadian cities that made the list were Vancouver (#10), Montreal (#15), and Ottawa (#42).

The other U.S. cities that made the list include, San Francisco (#8), Seattle (#20), Boston (#21), and Chicago (#27).

The top five cities prepared for Gen Z’s digital needs:

1.      Seoul

2.      London

3.      Boston

4.      Stockholm

5.       Los Angeles

Berlin, Tokyo, Perth, Australia and Wellington, New Zealand were among the other international cities that ranked in the top 50.

See the complete study: https://bit.ly/2lJp6aX


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
Fully Accessible Guide to Smart Home Tech for the Disabled and Elderly

 
Mortgage Calculator

 


Seller/Buyer Tips 

Home Improvement Projects Are Worth Cost And Time, Says REALTOR® Survey

Homeowners who decide to undergo a home improvement project, whether it be interior or exterior modifications, often find that the task was worth the investment and time, according to a new report from the National Association of Realtors®, with insights from the National Association of Remodeling Industry.

Read full article...

REALTOR® rank of projects’ likely value to the home for resale (highest to lowest)

1.    Complete Kitchen Renovation

2.    Kitchen Upgrade

3.    HVAC Replacement

4.    New Master Suite/Owner’s Suite

5.    Bathroom Renovation

6.    Basement Conversion to Living Area

7.    Add New Bathroom

8.    Add New Bathroom

9.    New Wood Flooring

10.  Hardwood Flooring Refinish

11.  Attic Conversion to Living Area

12.  Insulation Upgrade

13.  Closet Renovation


First-Time Home Buyers

First-Time homebuyers can experience a variety of different emotions during the home buying process and often feel overwhelmed.

Check out this all you need to know guide for being a homeowner. It contains a step-by-step guide plus tips along the way.


Governor  Murphy Signs Executive Order Creating Public Bank Implementation Board
Gov. Murphy, surrounded by community and financial justice advocates, today signed Executive Order No. 91 creating a Public Bank Implementation Board. The Board is tasked with developing an implementation plan for a public bank within one year...
Read full report...


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The following are updated monthly...  

New Jersey School Reports
Seniors' Monthly Newsletter
   (Not updated this month)


Green home features Millennials want in a home

If you’re thinking about renovating with future Millennial buyers in mind, green upgrades may serve you well. The National Association of Homebuilders’ (https://bit.ly/2oRwoLh)    What Home Buyers Really Want, shows the  green features most important to this generation.


 

Happy Thanksgiving

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.

E-mail me at  remove@edrc.com  to be removed from newsletter.