Somerset County Real Estate

If you’re looking to become a homeowner but the price of single-family homes makes you hesitate, you may want to consider a condominium or townhouse. These types of homes often come with a lower barrier to entry, and that can help you start building equity and enjoy the benefits of homeownership sooner. Since they are typically smaller than single-family homes, they can be easier on your wallet. While not always the case, smaller square footage usually comes with a lower price tag as well. Consequently, according to the latest data from real estate agent.com. Condos typically have a lower sales price than single-family homes (see graph below): And here is some interesting news: Homebuilders are focusing more on homes like these. The National Association of Home Builders (NAHB) says: “The proportion of townhouses being built is at an all-time high.” That means there are a large number of options to add to your housing search if you expand it to include condos and townhomes. And you may even find something that fits your budget better. So, if you’re comfortable with a smaller space and want to buy your first home before spring, adding these types of homes to your search could be your answer. The advantages of a condo lifestyle Living in a condominium also has many other advantages. Let’s take a closer look at why condos are attractive to first-time buyers: They help you start building equity. When you purchase a condo or townhome, you build equity and equity as you make mortgage payments and as the value of your condo increases over time. They may require little maintenance. Condos are great if you want to own your place but don’t want to mow the lawn, shovel snow, or fix the roof. Your real estate agent can help explain the associated fees and details of the condos you are interested in. They usually come with a variety of amenities. Your condo may have access to a pool, dog park, or parking. And the best part? You don’t have to take care of any of them. They create a sense of community. Buying a condo means you’ll live close to other people, which is nice if you want a more close-knit feel. Many communities like these host fun events, such as barbecues and parties, to help create that sense of connection between residents. Remember, your first home doesn’t have to be the one you’ll stay in forever. The important thing is to get your foot in the door becoming a homeowner so you can start gaining home equity. Later, that capital can help you buy another place if you want something different. Ultimately, owning and living in a condo or townhome is a lifestyle choice. If you want to see if it makes sense for you, talk to a local real estate agent. Ready to find a home that suits your goals? A condo could be the perfect option for purchasing your first home.

Initial forecasts for the 2025 real estate market Thinking about moving in 2025 and wondering what to expect? In their early 2025 housing market forecasts, experts say mortgage rates will drop slightly. As that happens, more buyers will return to the market, so more homes will be sold. And that will keep upward pressure on prices. Want to talk to an expert about what that really means to you? come on connect to explore your options today. Don't forget to check out our latest market reports! I'm Joe Peters, a real estate agent with over twenty years of experience at Coldwell Banker Residential Brokerage. I work with people who want to buy or sell a home (or both) in Hunterdon or Somerset County, New Jersey. Clients rely on me for detailed market and neighborhood information and smooth real estate transactions. My access to big data through Coldwell Banker, plus current technology and marketing skills, gives clients a unique advantage.

Lower mortgage rates increase your purchasing power Mortgage rates are coming down, and that's great news for your bottom line. As rates go down, so does your next home payment. Even a small change in mortgage rates can have a big impact on your purchasing power. If you put off your search when mortgage rates were higher, think about how much you could save now that rates are coming down. Come on connect To explore your options today. You can also call or text me at 908-304-4660. Don't forget to check out our latest news. market reports! I'm Joe Peters, a real estate agent with over twenty years of experience at Coldwell Banker Residential Brokerage. I work with people who want to buy or sell a home (or both) in Hunterdon or Somerset County, NJ. Clients rely on me for detailed market and neighborhood information and to make real estate transactions seamless. My access to big data through Coldwell Banker, plus current technology and marketing knowledge, gives clients a unique advantage.

The most common mistakes sellers make and how to avoid them Want to know the top mistakes current homeowners make when selling? Here are some: -Price your house too high -Omitting necessary repairs -Not being objective -Not being willing to negotiate

3 Reasons to Move in Today’s Changing Market The housing market is in transition, giving you three key opportunities heading into the fall. There are more homes for sale. Builders are motivated to sell, so a new construction home may be more attainable than you think. And mortgage rates have come down from their recent peak. If you’re ready and able to buy, you may find it a little easier to navigate the housing market this fall.

Understanding how much equity you have is the first step in figuring out what you can afford when you move. And since housing prices has increased so much in recent years that most people have a lot more equity than they themselves imagine. Here’s a deeper dive into what you need to know if you’re ready to leverage your investment and put your equity toward your next home. Home Equity: What Is It and How Much Do You Have? Home equity is the difference between the actual value of your home and the amount you still owe on your mortgage. For example, if your home is worth $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000. Recent data from the Census and ATOM shows that Americans have significant wealth right now. In fact, more than two out of three homeowners have fully paid off their mortgages (is shown in green in the following graph) or have at least 50% equity in their homes (is shown in blue in the following graph): Nowadays, more homeowners are receiving a higher return on their homeownership investments when they sell, and if you have that much equity, it can be a powerful force in driving your next move. What you should do next If you are thinking about selling your home, it is important to know how much equity you have, as well as what that means for the sale of your home and your potential profits. The best way to get a clear picture is to work with your agent, while also speaking with a tax professional or financial advisor. A team of experts can help you understand your specific situation and guide you forward. Home prices have gone up, which means your equity probably has too, so you can know how much you have in your home and move forward with confidence when selling. Don’t forget to check out our latest news.

The Biggest Mistakes Home Buyers Are Making Right Now Want to know what the biggest mistakes home buyers are making today? These include putting off pre-approval for too long, waiting for the perfect home, buying more than they can afford, and not hiring a professional. connect to make sure you have a professional on your side who can help you avoid these mistakes. Don't forget to check out our latest news. market reports! I'm Joe Peters, a real estate agent with over twenty years of experience with Coldwell Banker Residential Brokerage. I work with people looking to buy or sell a home (or both) in Hunterdon or Somerset County, NJ. Clients rely on me for detailed market and neighborhood information and to make real estate transactions seamless. My access to big data through Coldwell Banker, plus current technology and marketing knowledge, gives clients a unique advantage.

How do presidential elections affect the real estate market? Wondering if the upcoming election will have an impact on the housing market? Here's what history tells us you need to know if you're considering moving. Data shows that home sales slow in November, but quickly recover and increase the following year. Prices generally continue to rise and mortgage rates typically drop slightly. Presidential elections only have a small, temporary impact on the housing market. If you have questions, please contact us. connect . Don't forget to check out our latest news. market reports! I'm Joe Peters, a real estate agent with over twenty years of experience with Coldwell Banker Residential Brokerage. I work with people looking to buy or sell a home (or both) in Hunterdon or Somerset County, NJ. Clients rely on me for detailed market and neighborhood information and to make real estate transactions seamless. My access to big data through Coldwell Banker, plus current technology and marketing knowledge, gives clients a unique advantage.

Owning a home is the American dream Homeownership continues to top the list as an important part of the American dream. A recent Bankrate survey found that 78% of people rank it above other milestones like retirement and career success. Why? Security and wealth building. A fixed-rate mortgage keeps expenses stable, and as you pay down your mortgage, you build equity and financial stability. Let us make your dream of homeownership a reality. Don't forget to check out our latest news. market reports! I'm Joe Peters, a real estate agent with over twenty years of experience with Coldwell Banker Residential Brokerage. I work with people looking to buy or sell a home (or both) in Hunterdon or Somerset County, NJ. Clients rely on me for detailed market and neighborhood information and to make real estate transactions seamless. My access to big data through Coldwell Banker, plus current technology and marketing knowledge, gives clients a unique advantage.