Title Wise
The New Jersey Real Estate News You Can Use
|
Greetings!
Affordability plus inflation, as well as inventory shortages are going to make home buying more of a challenge. This is going to affect the straight-up trajectory of the market as we have known it for the last two and a half years. Belt-tightening and extra effort is going to make every transaction more and more valuable.
Please feel free to email me at ralph@counsellorstitle.com if you have any questions or would like to follow up on any of this edition's articles.
Ralph Aponte
Founder & President
732.914.1400
|
Is Real Estate Too Unaffordable? |
Affordability is the new real estate buzzword.
The last two years the inventory shortage that has impacted the market has ultimately driven prices over the last 30 months to hit all-time highs. In addition to making it somewhat lucrative for sellers of homes, the rise in prices has made buying a home more expensive, entering the realm of unaffordability.
According to a recent report published by the National Association of Home Builders, 48.7% of all homes are characterized as being within the financial reach of a middle-class family; that means that nearly 52% of all homes sold are out of the financial reach of average Americans.
Does this represent a bubble or a logjam? Home builders are still reluctant to jump into the home building frenzy with abandon because of the collapse of the market back in 2007 and 2008. In addition the supply chain issues that are impacting car dealerships and computers are also affecting supplies necessary for construction projects. This is only going to contribute to the inventory shortage as well as the escalation in prices not only for existing homes but also new construction. According to the NAHB, every time a mortgage rate climbs a quarter of a percent, approximately 1.3 million American households are priced out of the real estate market.
These sort of financial currents are impacting families in terms of where they can afford to live. Right now the study conducted by National Association of Home Builders indicates that Lansing, Michigan; Indianapolis, Indiana; Scranton, Pennsylvania; Rochester, New York and Dayton, Ohio happened to be places where first-time home buyers can enter into the market without jeopardizing their financial base.
The Most Affordable Places to Live in New Jersey
According to an article in Extra Space, these are the most affordable places to live in New Jersey:
■ Hightstown
■ New Brunswick
■ Phillipsburg
■ Pompton Lakes
■ Rahway
■ Toms River
|
As a customer, or a potential customer, you know the importance and value that title services deliver to the overall customer experience.
The Counsellors Commitment
Counsellors Title services and products are designed to help you reach the next level in your business. Let Counsellors' team work to show you just how much more effective you can be.
Reach out TODAY to speak with me to learn more.
732.914.1400
|
Rooms that Make a House a Home |
While demand to purchase homes continues to outstrip supply, potential sellers are seeking the most cost-efficient ways of staging their homes to attract the best price. The annual owner improvement and repair spending is estimated to reach $430 billion by the second half of 2022.
While the renovation industry booms, homeowners looking to get the best price are looking for modest ways to increase home values. The areas that might make the most sense to improve are bathrooms, basements, exteriors and outdoor areas, home offices, kitchens.
Bathrooms: Clean, up-to-date bathrooms are attention-grabbers for potential buyers. Though replacing everything in the bathroom translates into thousands of dollars, possible replacement of the toilet or a vanity will go a long way to increase the eye-appeal of a home.
Basements: One of the things that has changed over the years is the perceived value of a basement in a home. But today, basements are being turned into physical fitness areas, storage and even mini playrooms.
Exteriors & Outdoor Areas: Starting with the curb appeal, first impression of a home will become the lens through which every buyer will analyze the property. Trim and prune outside vegetation. Lots of mulch, clean pathway to the front door, and especially, a front door that makes a statement visually: Welcome Home! The Outdoor Areas can include a deck or patio, but what has become a real trendsetter is the fire pit. Also, give some attention to lighting design, landscaping and the right kind of table and chairs.
Home Office: The hybrid economy is now a reality. According to a survey from the National Association of Home Builders, 63% of today's buyers want a home office. According to Money Magazine, homes with offices sell for about 3.4% more than those that don't have a home office. The home office needs to be set-apart and soundproof with great wifi.
Kitchen: The heart of every home, the kitchen today needs to have great lighting. The demand for a center island is strong but having great counter space with access to living spaces, such as an open concept living room, is ideal.
|
“I never did anything worth doing by accident, nor did any of my inventions come indirectly through an accident, except the phonograph. No, when I have fully decided that a result is worth getting, I go about it, and make trial after trial until it comes.” – Thomas Edison
Counsellors Title is initiating this feature of Title Wise called Life Quotes.
Oftentimes we are so busy doing that we forget the reason(s) why. Life Quotes are those mental speed bumps that we will occasionally come across and insert, just to rehearse the important things in life.
|
|
A.S.A.P. Attorney Settlement Assistance Program
|
Our real estate secretarial services are able to assist you in every aspect of the sale, purchase, refinance or loan closing process. We will directly communicate with all the parties involved in the transaction and coordinate and obtain all the items necessary to bring the matter to closing.
Our ASAP services can be individually customized to fit your needs. These services include:
- Documentation Preparation
- Disbursement of Funds
- Attendance at Closing
- HUD Preparation or
- Post-Closing Matters
|
Our Commitment to Excellence |
Counsellors Title Agency wants to thank you for the opportunity to work with you and your clients to grow your business. Please feel free to click the link above or here to leave us a review on Google. We appreciate your business. |
Sales: Leading NJ title insurance agency seeks experienced licensed salespersons to help expand its market share throughout the entire state. Benefits include health insurance, 401k with an employer match, flexible spending account, expense account, & marketing support. Send resumes by fax: 732-914-8898 or ralph@counsellorstitle.com
|
Free Online Title Insurance Calculator |
Counsellors Title Agency announced its updated Title Calculator for New Jersey home purchases & refinances at: Title Calculator
Loan officers, real estate agents and home buyers can find out how much title insurance will cost for purchases made in New Jersey.
Easy-To-Use Functionality
This online tool includes many of the endorsements involved in calculating the cost of a title policy in New Jersey. CTA's Title Calculator is a great tool for real estate salespersons, loan officers, attorneys and those who are buying or refinancing their home.
It calculates the cost of title insurance based upon the purchase price of the home, the loan amount, and the various endorsements that can accompany the loan. The calculator provides the user the scalability of selecting the various endorsements involved in the transaction.
|
Handy Guide to Real Estate Sources |
Here are some of the most widely used governmental websites for the real estate industry.
I look forward to being of service to you, providing you with outstanding real-time information and some humor to make doing business a pleasure.
Sincerely,
Ralph
Ralph Aponte
Counsellors Title
|
|
 |
Counsellors Title Agency, Inc. specializes in providing title insurance, title search services and loan closing services serving attorneys, Realtors, banks and various mortgage companies throughout the State of New Jersey. CTA offers full search and insurance capabilities within all 21 counties of New Jersey for commercial, residential and new construction purchases in our Toms River, Freehold, Chatham, and Union locations.
CTA is equipped with the latest digital technologies to ensure a complete and timely transaction.
|
|
|
|
|
|
Mr. Ralph Aponte
Our Office: 504 Hooper Avenue,
Toms River, NJ 08753
Phone Number: (732) 914-1400
Fax: 732-914-8898
|
|
|
|
|
|
|
|
