498 Kings Highway North
Cherry Hill, NJ 08034
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Fall Home Tips
Posted On: September 26th, 2023 11:26PM
Prepare Your Property for the Changing Season
As the leaves change color and the temperature drops, it's time to prepare your home for the fall season. From maintenance tasks to cozy decor ideas, these fall home tips will help you create a warm and inviting atmosphere for potential buyers and ensure that your property remains in top condition. Take advantage of this seasonal shift and make the most of your real estate opportunities. Read on for some essential tips to get started.
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Exterior Maintenance: (a.) Clean the gutters: Remove leaves and debris from your gutters to prevent water damage and potential clogging. (b.) Inspect the roof: Check for any loose or damaged shingles and address any necessary repairs. (c.) Trim trees and shrubs: Prune overgrown branches to prevent them from causing damage during storms.
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Prepare the Yard: (a.) Rake the leaves: Keep your yard well-maintained by raking fallen leaves regularly. (b.) Plant seasonal flowers: Add pops of color to your front yard with fall flowers such as mums or pansies. (c.) Store outdoor furniture: Protect your outdoor furniture by storing it properly or covering it with weatherproof covers.
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Cozy Interior Updates: (a.) Warm color palette: Embrace the fall ambiance by incorporating warm hues such as deep reds, burnt oranges, and earthy browns into your home decor. (b.) Layered textiles: Add cozy throw blankets, plush rugs, and textured pillows to create a welcoming and inviting atmosphere. (c.) Fall-inspired scents: Use scented candles or diffusers with fragrances like cinnamon, pumpkin spice, or apple cider to create a comforting aroma.
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Energy Efficiency: (a.) Check windows and doors for drafts: Seal any gaps or cracks with weatherstripping or caulking to prevent heat loss and save on energy bills. (b.) Insulate pipes: Protect your pipes from freezing temperatures by insulating them with foam sleeves. (c.) Schedule a heating system check-up: Ensure that your heating system is in good working condition before the colder weather arrives.
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Safety Measures: (a.) Test smoke and carbon monoxide detectors: Replace batteries and ensure these devices are functioning properly. (b.) Check fire extinguishers: Make sure your fire extinguishers are up to date and easily accessible. (c.) Install outdoor lighting: As daylight hours decrease, consider installing motion-sensor lights for added safety and security.
Bottom Line
By following these fall home tips, you can create an inviting and cozy atmosphere while also ensuring that your property is well-maintained and prepared for the changing season. With a little effort and attention to detail, you can attract potential buyers and make a lasting impression. Embrace the fall season and make your property shine in the real estate market.
Remember, I'm here to assist you with any further questions or real estate-related topics. Happy fall preparations!
Evaluating Wants and Needs As a Buyer
Posted On: August 17th, 2023 2:39PM
When entering the homebuying process, it's important to evaluate and prioritize your wants and needs. This will help you focus your search, save time, and make informed decisions. Here are some key factors to consider:
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Budget: Determine your budget by assessing your finances, including your income, savings, and expenses. This will help you understand how much you can afford to spend on a home, including the down payment, mortgage payments, and ongoing homeownership costs.
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Location: Consider the location that best suits your lifestyle and needs. Think about proximity to work, schools, amenities, transportation, and any other factors that are important to you. Research the neighborhoods you're interested in to ensure they align with your preferences and requirements.
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Size and Layout: Evaluate your space requirements, including the number of bedrooms, bathrooms, and overall square footage. Consider your current needs, as well as any future plans that may impact your space requirements, such as starting a family or working from home.
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Property Type: Determine the type of property that suits your lifestyle and preferences. Options include single-family homes, condominiums, townhouses, or multi-family properties. Each type has its own advantages and considerations, so weigh the pros and cons based on your needs.
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Features and Amenities: Make a list of the features and amenities that are essential to you. This could include a specific architectural style, a backyard, a garage, a swimming pool, or a specific layout. Differentiate between must-haves and nice-to-haves to help prioritize your search.
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Condition and Renovation Potential: Consider whether you prefer a move-in ready home or if you're open to doing renovations or updates. Assess your comfort level with potential repairs or remodeling projects and factor that into your search.
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Resale Value: While it's important to focus on your current needs, it's also wise to consider the potential resale value of the property. Look for factors such as the neighborhood's desirability, property appreciation trends, and any upcoming developments that may impact the value.
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Lifestyle Factors: Think about your lifestyle and how the home will support it. Consider factors such as outdoor space, proximity to parks or recreational areas, access to amenities like gyms or shopping centers, and any specific requirements related to your hobbies or interests.
By evaluating and prioritizing your wants and needs, you can streamline your home search and make informed decisions. It's important to stay flexible and open to adjustments along the way, as your priorities may evolve during the process. Working with a knowledgeable real estate agent can also help you navigate your options and find a home that meets your criteria.
Is Now the Time To Purchase a Home?
Posted On: July 23rd, 2023 7:26PM
Is now the time to buy a home? To put it simply, yes. One couldn’t blame homebuyers for being hesitant based on last year's market, but that was LAST year’s market. As of this writing, inventory is up and there’s more variety in the market. Why settle when you can buy the home of your dreams? The odds of that happening are much greater than they were this time last year and optimism is growing.
Chances are, things are going to turn around big time by the end of the 3rd or early into the 4th quarter of the year. More and more homes will be on the market. Why wait when you can secure historically low interest rates right now? Yes, rates are indeed higher than they were pre-pandemic. They’re still a full percentage point lower than the national average just fifteen years ago.
Reports from the Federal Government pertaining to employment are also quite encouraging. Over 200,000 new jobs were added to the economy at the beginning of the year, bringing unemployment down to 3.5%. When more people have money to spend, they will spend it. That’s good for the economy as a whole.
If you’ve been thinking about buying a home, maybe it’s time you consulted a trusted real estate professional.
It’s a great time to get started!
Buying a Vacation Home
Posted On: July 14th, 2023 3:22PM
Buying a Vacation Home Beats Renting One This Summer
For many of us, visiting the same vacation spot every year is a summer tradition that’s fun, relaxing, and restful. If that sounds like you, now’s the time to think about your plans and determine if buying a vacation home this year makes more sense than renting one again. According to Forbes:
“. . . if the idea of vacationing at the same place every year makes you feel instantaneously relaxed, buying a vacation home might be a wise move.”
To help you decide if making a move like this is right for you, let’s explore why you may want to consider purchasing a vacation home today.
Benefits of Owning Your Vacation Home
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You don’t have to worry about finding a place to stay. It can be a challenge to find a rental where you want when you want. Some summer vacation destinations are more popular than others, meaning your favorite place may be booked up in advance. Bankrate explains why owning your vacation home means you don’t have to worry about that sort of inconvenience: “. . . a second home can offer a place to have quality time with your family and ensures that you always have a vacation destination.”
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It’s an investment. Home values typically appreciate over the long haul. That holds true for your vacation home as well, especially if it’s in an area with growing market demand. This can help grow your net worth with time.
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Vacation homes may provide tax benefits. If you own a vacation home, you may be eligible for tax deductions based on where it is. However, before buying, you’ll want to consult with a tax professional to discuss first as taxes can vary by location.
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It could potentially turn into a retirement location. If you love the location of your vacation home, you could potentially sell your primary residence and retire there in the future.
How a Pro Can Help You Find Your Perfect Match
As you’re preparing for summer vacation, remember, you could potentially visit your second home instead of another rental unit or hotel. If that sounds appealing to you, a local real estate agent is your best resource. They have the knowledge and resources to help you understand the area and what vacation homes are available in your budget. Plus, these agents can explain the perks of how owning a second home can benefit you.
If any of these reasons for owning a vacation home resonate with you, let’s connect. You still have time to enjoy spending the summer in your vacation home.
Impact of Inflation on Mortgage Rates
Posted On: July 10th, 2023 3:29PM
If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve (the Fed). But what does it mean for you, the housing market, and your plans to buy a buy a home? Here’s what you need to know.
Inflation and the Housing Market
While the Fed’s working hard to lower inflation, the latest data shows that, while the number has improved some, the inflation rate is still higher than the target (2%). That played a role in the Fed's decision to raise the Federal Funds Rate last week. As Bankrate explains:
“Keeping its inflation-fighting streak alive, the Federal Reserve has raised interest rates for the 10th time in 10 meetings . . . The hikes aimed to cool an economy that was on fire after rebounding from the coronavirus recession of 2020.”
While the Fed’s actions don’t directly dictate what happens with mortgage rates, their decisions do have an impact and contributed to the intentional cooldown in the housing market last year.
How This Impacts You
During times of high inflation, your everyday expenses go up. That means you’ve likely felt the pinch at the gas pump and in the grocery store. By raising the Federal Funds Rate, the Fed is actively trying to lower inflation. If the Fed is successful, it could also ultimately lead to lower mortgage rates and better home buying affordability for you. That’s because when inflation is high, mortgage rates tend to be high. But, as inflation cools, experts say mortgage rates will likely fall.
Where Experts Think Mortgage Rates and Inflation Will Go from Here
Moving forward, both inflation and mortgage rates will continue to impact the housing market. Economists at the National Association of Realtors (NAR) are saying that mortgage rates are likely to descend lower later in the year as the consumer price inflation calms down.
A Chief Economist at the Mortgage Bankers Association (MBA) also explains that we can continue to expect that mortgage rates will keep drifting down over the year as the economy slows.
While there’s no way to say with certainty where mortgage rates will go from here, the experts think mortgage rates will trend down this year if inflation comes down too. To stay informed on the latest insights, connect with a trusted real estate advisor. They keep their pulse on what’s happening today and help you understand what the experts are projecting and how it could impact your homeownership plans.
Bottom Line
Don’t let headlines about the latest decision from the Fed confuse you. Where mortgage rates go from here depends on what happens with inflation. If inflation cools, mortgage rates should tick down as a result. Let’s connect so you have expert insights on housing market changes and what they mean for you.
