Tag Archive for: Real Estate Agent New Jersey

Your Home Inspection – 7 Things You Need to Know

Congratulations! Your offer’s been accepted, and you’re a step closer to owning your dream home. But before you start planning the housewarming party, there’s an important milestone ahead: the home inspection.

It’s a step that can be daunting for many buyers, but with the right approach, it doesn’t have to be. Here are seven essential things you need to know about your home inspection, straight from my experiences in the real estate world.

1. Understanding the Purpose of a Home Inspection

A home inspection, also called a property condition assessment, isn’t just a hurdle to clear; it’s an opportunity. Think of it as a comprehensive guide to your future home, highlighting maintenance needs and the lifespan of critical components. It’s about learning everything you can about your property, not just cataloging its flaws.

2. Setting Realistic Expectations

Remember, no home is perfect, especially if it isn’t new construction. The inspection report will likely be lengthy, with anywhere from 20 to 40 pages. Prepare yourself mentally for this and remember that it’s normal.

3. Choosing the Right Home Inspector

Take your real estate agent’s recommendation for an inspector seriously. A good agent knows that their reputation relies on providing you with reliable, professional advice, including connecting you with a trustworthy inspector in New Jersey.

4. Being Present Matters

Attending the inspection is crucial. It allows you to see the issues firsthand and have the inspector clarify any concerns, making the report less intimidating and more understandable.

5. Understanding ‘As Is’ Sales

When a property is listed ‘as is,’ it means the seller isn’t looking to make repairs or offer credits. However, if significant issues arise, most sellers are open to negotiation since they’ll need to disclose these problems if they relist.

6. Making Reasonable Requests After Your Home Inspection

After the inspection, prioritize your repair requests. Focus on significant, hidden (latent) issues rather than minor, visible (non-latent) ones you knew about when you made your offer. Consider the home’s price point and concentrate on serious concerns rather than a long list of minor fixes.

7. Seller’s Response to Requests

Sellers can choose to fix issues, offer a credit, or do nothing. It’s their prerogative. Negotiations following an inspection are a delicate dance, aiming for a fair resolution that keeps the deal on track.

The Home Inspection Isn’t a Deal-Breaker—It’s a Deal-Maker

Approaching the home inspection with the right mindset can transform it from a stress point into a powerful tool for making informed decisions about your potential new home. Remember, knowledge is power. The more you learn about the property, the more confidently you can move forward with your purchase.

If you’re navigating the home buying process and facing an upcoming home inspection, remember these insights to ensure a smooth and informative experience. And remember, I’m here to help guide you through every step of the way—from finding the right property to handing over the keys.

Have more questions about home inspections or any other aspect of buying a home? Don’t hesitate to contact me.

Happy house hunting, and here’s to finding and securing the home of your dreams with confidence and clarity!

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Should You Buy Property in New Jersey? Here’s How I Made 600K Owning a Home

Should you buy property in New Jersey? In the ever-fluctuating real estate market here, advice abounds on whether now is the right or wrong time to buy. Amidst this sea of opinions, I want to chime in and share my personal story that illuminates the profound impact real estate has had on my family’s financial well-being.

A Journey Through Real Estate

Back in the late ’90s, my journey began with a modest $135,000 home purchase. Fast forward four years, and that investment turned into a $195,000 profit—money that, frankly, we wouldn’t have saved otherwise due to the joys and expenses of young adulthood.

This profit wasn’t the end but the beginning. It led us to our next home, a $330,000 property that, after nine years and some savvy improvements, significantly increased in value. Alongside, we ventured into renting, which not only covered our mortgage but provided a surplus.

The Power of Patience and Strategic Decisions

These experiences taught me two invaluable lessons: the importance of patience and the impact of strategic buying and selling. Each property we owned and eventually sold brought us financial gains that significantly bolstered our savings, funded our retirement, and even contributed to our child’s college fund.

Choosing the Right Time to Buy and Sell in New Jersey

Now, you might think, “Sure, Corey, but these were different times.” True, the market conditions vary, but the principle remains the same: investing in real estate can yield substantial financial benefits. The key is finding the right property at the right time and, just as importantly, choosing the right time to sell.

In hot markets, like the one we recently experienced, the scarcity of listings might drive up prices, but this also means your property’s value could be at its peak. Conversely, in slower markets, buyers might find more negotiating power. The “month of supply” is a crucial number to watch, as it offers insights into market dynamics, helping both buyers and sellers make informed decisions.

Why Real Estate?

Reflecting on my journey, the financial stability and growth I’ve experienced through real estate are unmatched. This isn’t just about profit; it’s about building a secure future. Renting might seem like the safer, more flexible option in the short term, but it doesn’t contribute to your long-term wealth. Each mortgage payment is an investment in your future—a future where you’re not just saving money, but making it.

My Advice to Buyers and Sellers in NJ

So, should you buy property in New Jersey? If you’re on the fence about entering the NJ real estate market, consider this: with the right guidance from trusted real estate professionals and a strategic approach, you can transform your financial future. Real estate isn’t just about finding a place to live; it’s about setting the foundation for your financial independence and security.

So, whether you’re contemplating buying your first home or selling your current one to move up the real estate ladder, remember my story. Real estate isn’t just a career for me; it’s a passion fueled by the life-changing benefits I’ve seen firsthand. And I’m here to help you experience those benefits, too.

Don’t let the market’s ebbs and flows deter you. With a trusted agent by your side and a clear understanding of your financial goals, you can make real estate work for you, just as it has for me.

Ready to explore how real estate can transform your financial future in New Jersey? Let’s chat. Your journey to financial independence through real estate starts with a conversation. Contact Corey Skaggs today.

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Months of Supply: The Only Thing You Need to Know When Trying To Sell or Buy A House

Hey everyone, Corey Skaggs here. With all the stats, facts, and numbers flying around in New Jersey’s whirlwind real estate market, it can feel a little overwhelming trying to make sense of it all. But did you know there’s just one number that can give you a clear picture of what’s happening in any given market, whether you’re buying or selling? It’s called “months of supply”. Let’s dive into what this magic number is and why it’s so crucial.

Understanding the Months of Supply

The key to unlocking the mysteries of any real estate market, crazy or calm, lies in understanding the Months of Supply. This figure is derived from an absorption report, which crunches current listings, recent sales, and the average number of homes sold per month. Sounds like a lot of math, but it boils down to one invaluable insight: How long the current supply of properties for sale would last if no new ones were to be added.

For example, if we have a 3.0 Months of Supply, it means if no new homes were listed starting today, it would take three months for all the existing homes to be sold. Imagine that—no more homes for sale in just three months!

Decoding the Number

But how do we interpret this number? If a 6.0 Months of Supply is considered balanced, where neither buyers nor sellers have the upper hand, anything below leans towards the seller’s advantage. Conversely, anything above 6 indicates a buyer’s market. Recently, we’ve seen numbers as low as 1.22, screaming that it’s a seller’s paradise with fierce competition and scarce inventory for New Jersey buyers.

Strategic Timing for Buyers and Sellers

For buyers in a competitive market like New Jersey, monitoring the Months of Supply can be your secret weapon. As the number creeps up, it signals easing competition, hinting it might be time to jump back into the fray.

Sellers, on the other hand, should also keep a close eye on this trend. Planning to sell in six or seven months? Regularly checking this number can guide you to possibly list sooner. If you notice it inching towards 6 or higher, it suggests the market might become tougher for sellers.

Why The Months of Supply Matters

In essence, the Month of Supply is a snapshot of the market’s health and momentum. It simplifies complex market dynamics into a single, understandable figure, guiding your buying or selling decisions with clearer insight and direction.

Ready to Talk Numbers?

If you’re in New Jersey and curious about the Months of Supply in your area, I’m here to help. For those outside NJ, I encourage you to ask your local real estate agent about this critical number. It’s a straightforward yet powerful tool to navigate the real estate market with confidence.

Want to dive deeper into real estate strategies or need specific insights for the New Jersey property market? Don’t hesitate to get in touch.

Happy house hunting or selling! Remember, in the world of real estate, knowledge is not just power—it’s profit!

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Is Morris Plains, NJ Right for You? A Guide by Corey Skaggs

So, you’re considering moving to New Jersey, and Morris Plains is on your radar. Excellent choice! As someone who’s not only made this suburb my home but also stationed my office a stone’s throw away, I’m here to share everything you need to know about this charming village. Stick around, and let’s explore Morris Plains together.

Why Morris Plains?

Affectionately known as the “Community of Caring,” it holds a special place in my heart for many reasons. Its prime location nestled among Hanover, Morristown, Morris Township, and Parsippany makes it a hidden gem right in the heart of Morris County.

A Village with Everything to Offer

From the iconic Arthur’s Tavern to the direct train line to New York City and Hoboken, Morris Plains offers an enviable blend of suburban tranquility and urban connectivity. As we stroll down Speedwell Avenue, the vibrant life of this small town unfolds with an array of restaurants, from the exotic flavors at a Middle Eastern spot to the timeless tradition at Time for a Bagel.

And no town center is complete without its ice cream shop. Scoop Station is just one of the local delights that make this place genuinely unique. Beyond the eateries, the local barber shops and new pizza places add to the village’s charming appeal.

Beyond the Town Center

Venture a bit further, and the heart of Morristown is just a five-minute drive away, offering a more urban feel with its bustling scene. Yet, Morris Plains maintains its quaint character, with Central Park serving as a sprawling green oasis for sports enthusiasts and nature lovers alike.

Understanding Morris Plains Real Estate

When looking into properties in the area, it’s essential to consider the shared zip code phenomenon across Morris County. Properties listed under the 07950 zip code might extend into neighboring areas like Parsippany or Hanover, adding a diverse range of options to your home search.

What Your Money Can Get You

There is a broad spectrum of housing options available here, from cozy three-bedroom homes starting at $525,000 (at the time of writing) to more spacious four-bedroom houses reaching up to $775,000. These homes represent the best of Morris Plains living, combining convenience with the charm of suburban New Jersey.

Check out current NJ homes for sale

Commute and Connectivity

For those commuting to New York, the Morris Plains station provides an accessible route, with train journeys averaging around an hour. The blend of relatively lower property taxes and manageable commute times position this charming suburb as an attractive option for those working in the city but seeking the tranquility of suburban life.

Is Morris Plains Your Next Home?

Morris Plains represents the best of both worlds – a community where you can enjoy the serenity of suburban life while staying connected to the hustle and bustle of city living. Whether you’re drawn to its friendly neighborhoods, excellent dining options, or the convenience of its location, Morris Plains has something for everyone.

If Morris Plains sounds like the kind of place you’d love to call home, or if you’re curious about other areas in New Jersey, don’t hesitate to reach out. I’m here to help you navigate the journey of finding your perfect home in New Jersey.

Ready to explore Morris Plains further or have questions about moving to New Jersey? Contact me, Corey Skaggs, your dedicated guide to New Jersey real estate.

Stay tuned for more insights and tips on making your move to New Jersey as smooth and enjoyable as possible. And remember, whether buying or selling, I’m here to support you every step of the way.

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Home Staging: A Seller’s Guide for the New Jersey Market

The Art of Home Staging: A Seller’s Guide for the New Jersey Market - Corey Skaggs Real Estate Agent NJCorey Skaggs Real Estate NJ

Selling your home in New Jersey? Then you’ve got to hear about home staging – it’s like giving your home a quick makeover to wow potential buyers and maybe even get your place sold faster and for more money. Let me walk you through why staging your pad can make a huge difference, especially here in the competitive New Jersey market.

Is Home Staging Really Worth it?

Think about the last time you walked into a well-decorated model home or a fancy hotel room. Felt nice, right? That’s the feeling home staging aims to recreate. It’s all about showing off your home’s best features. And guess what? It works. Homes that look better not only sell quicker but often at a higher price. Here in New Jersey, where every little advantage counts, staging could be your ticket to a smooth sale.

Knowing Your Buyer

New Jersey is a melting pot, attracting all sorts of people looking for their slice of the American Dream. Whether it’s families looking for good schools or city commuters seeking a quiet retreat, understanding what buyers want can help you stage your home to appeal directly to their desires.

Home Staging 101

Staging isn’t just about fancy furniture; it’s about creating a mood. Here are some tried and true principles:

Declutter: Less is more. Too much stuff makes spaces feel smaller and distracts buyers from seeing the potential.

Depersonalize: You want buyers to imagine themselves in your home, which is hard to do with personal photos and keepsakes everywhere.

Light it Up: Bright homes look bigger and more welcoming. Open those curtains and let the light in!
Fix the Small Stuff: Leaky faucet? Squeaky door? Small fixes can make a big difference in how well your home shows.

Room-by-Room Strategies

Each room has a role to play. Make your living room inviting, your kitchen immaculate, and your bedrooms peaceful retreats. Remember, you’re not just selling a house; you’re selling the dream of a home.

DIY or Call the Home Staging Pros?

While some sellers have a knack for design, others might feel lost in a sea of paint swatches. If you’re in the latter camp, hiring a professional stager might be a good move. They can transform your space quickly and often with dramatic results. But if you’re watching the budget right now, there are plenty of simple staging tricks you can do yourself.

Check out my guide on how to best prepare your home for the sale.

Staging on a Shoestring

No need to break the bank. Something as simple as rearranging furniture or adding a few new throw pillows can freshen up a room. The key is to be resourceful and focus on changes that make the biggest impact. The scent of your home can also have a big impact on how it is perceived by potential buyers.

Showing Off Your Staged Home

Once your home is looking its best, make sure it shines online, too. Quality photos and virtual tours can help your listing stand out. And don’t forget to highlight your staging efforts in the property description!

Staging might seem like extra work, but in the bustling New Jersey market, it can give you the edge you need. Think of it as an investment in your home’s future, one that pays off in a quicker sale and possibly a higher selling price.

Ready to stage your home for success or need some advice on getting started? Reach out—I’m here to help make your selling journey as smooth and profitable as possible.

Thinking of selling your home in New Jersey? Let’s chat. Contact Corey Skaggs today for personalized advice and insights.

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