Princeton Real Estate

Beatrice Bloom, Princeton Real Estate Agent

News/Blog

MILLENIALS ARE NOW THE MAJORITY OF CURRENT HOMEBUYERS

Princeton Town Topics – Let’s Talk Real Estate – May 5, 2021

MILLENIALS ARE NOW THE MAJORITY OF CURRENT HOMEBUYERS

The strong sellers’ real estate market is showing no signs of slowing down. Market data and trends are revealing some interesting patterns in many of the hottest markets, including those here in New Jersey.

One of the notable trends is that a majority of the buyers looking to purchase homes in New Jersey are millennials, possibly as high as 72% of all buyers in the state. There are several key reasons why this generation, currently between the ages of 25-40, are starting to buy instead of rent.

The continued low interest rates are certainly part of the reason for the increase in demand, as many potential homebuyers wish to make a purchase while interest rates remain stable. An interest rate increase will likely reduce buying power for some homebuyers.

Many millennial buyers are also leaving city life in order to purchase larger homes with more outdoor space in the suburbs. Some of the rush is due to the pandemic. But more millennials are starting families, and are looking for homes and neighborhoods to raise them in.

Meanwhile, inventories of homes for sale remain near 10-year lows, with most houses moving quickly as the summer season is approaching.

SHINING SOME LIGHT ON SOLAR PANELS FOR YOUR HOME

Princeton Town Topics – Let’s Talk Real Estate – April 28, 2021

SHINING SOME LIGHT ON SOLAR PANELS FOR YOUR HOME

Homeowners who would like to follow a greener lifestyle and save on energy bills often decide to invest in solar panels. Most people who consider solar panels are swayed by the potential to save money on their future electric bills over 10+ years.

But studies show that solar panels are also viewed as an upgrade to a home similar to a renovated kitchen or bathroom. Solar panels can increase a home’s value in a range of 3-4% or more.

New Jersey is one of the states where solar carries a higher premium, as the state offers a combination of grants and tax incentives. Some estimates show that in NJ, homes with solar panels can sell for 9.9% more than homes without solar energy panels.

It’s important to note that the higher home values pertain to homeowners who own their solar panels outright. When solar panels are leased and owned by a third-party company, that value might not transfer when the home is sold. The bottom line: do your research more committing to a specific solar energy investment.

SPRING HOME STAGING IDEAS TO SPARK BUYER INTEREST

Princeton Town Topics – Let’s Talk Real Estate – April 21, 2021

SPRING HOME STAGING IDEAS TO SPARK BUYER INTEREST

Home staging doesn’t have to be overwhelming. If you’re selling your home this spring or summer, here are some simple but effective do-it-yourself staging ideas that can help your get started.

Pare down closets and cabinets to maximize space. Overstuffed closets and cabinets look much smaller than their actual size. Box up your bulky winter clothing, such as coats, sweaters, and boots. Keep the remaining items organized and spaced apart. This is also a great time to clear out your pantry, bathroom cabinets and linen closets.

Deep clean everything. Take Spring Cleaning to a new level. Go room by room and make sure nothing is overlooked – floors, walls, light fixtures, doors, windows. In the kitchen, wipe down cabinets and clean appliances inside and out.  If you have carpets, consider having them professionally steam cleaned.

Add some quick color. Add some bursts of color in your living spaces with throw pillows, colorful towels in the bathrooms, and fresh flowers for your kitchen or dining room. Make your rooms brighter by opening blinds and drapes before showings.

FRONT YARD TREES TO BOOST CURB APPEAL

Princeton Town Topics – Let’s Talk Real Estate – April 14, 2021

FRONT YARD TREES TO BOOST CURB APPEAL

Here in the northeast, spring is an excellent time to plant trees in your yard. Besides adding beauty and curb appeal, did you know that landscaping can add value to your home? Nationwide studies show that trees and landscaping can add anywhere from 5% to 15% to your home’s value.

Like any other home improvement project, plan out the details of your planting and landscaping design ahead of time. A typical plan will include a budget (trees can be expensive), and choosing trees based on your location and on how much care and maintenance they will need.

Be sure to take into account how your trees will look in three, five, and 10 years. Plant and space your trees based on their mature height and width.

A mix of evergreens, flowering trees and deciduous trees provides color and beauty throughout the year. Some popular choices in the mid-Atlantic region are as follows:

Flowering and ornamental trees: Eastern Redbud, Flowering Cherry, Crepe Myrtle, Japanese Maple, River Birch, Kousa Dogwood

Evergreen: Spruce (Blue, Norway), Weeping Blue Atlas Cedar, American Holly, Leyland Cypress

TIPS TO ENHANCE THE CURB APPEAL OF YOUR HOME THIS SPRING

Princeton Town Topics – Let’s Talk Real Estate – April 7, 2021

TIPS TO ENHANCE THE CURB APPEAL OF YOUR HOME THIS SPRING

In real estate, first impressions matter. When a buyer appreciates the exterior features of a house, they are more likely to want to look inside as well. If you’re planning to list your home for sale this spring, now is the perfect time to venture outside and take some steps to boost the curb appeal for your home.

Here are some quick ideas to get started:

  • Remove dirt and debris from sidewalks, driveway, front porch or entryway. Consider hiring a professional company to power wash the exterior siding, doors and windows.
  • Take a close look at the front door. Is the color dull or faded? A fresh coat of paint will give an instant boost to the front.
  • Add eye-catching color by planting flowers in decorative pots around your front porch, steps, and around the mailbox. Choose from flowers that are already in bloom and brightly-colored annuals.
  • Freshen up the landscaping. Along with cleaning up the lawn, make sure to trim shrubs and trees, especially those along the house and foundation.

SPRING REAL ESTATE MARKET NOW EMERGING

Princeton Town Topics – Let’s Talk Real Estate – March 31, 2021

SPRING REAL ESTATE MARKET NOW EMERGING

The spring real estate market will be full swing in the coming weeks. Traditionally, in New Jersey and other northeast markets, the spring market emerges in April, when the temperatures start to warm up and yards start looking greener. Homebuyers who delayed their search because of snow will start up again, especially those who want to move into a new home over the summer.

Because of continued high demand, the market is fast moving, with houses selling very quickly. Although more new sellers are expected to enter the market to take advantage of rising prices, inventories remain low in many locations in the region.

Buying trends are similar to last year: buyers want more space, more rooms, and larger yards. One of the main results of the pandemic is that many people will continue to work remotely for the foreseeable future, and maybe permanently in some cases. Homes with room for a home office – either an extra bedroom or another space that can be converted for a workspace – will remain in high demand as a result. Buyers should be prepared to move quickly, as high interest and multiple offers are expected to remain the norm.

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