Westfield Luxury Homes Blog

Realtor(R) Magazine puts out an annual cost vs value Report for home additions and remodelling.  On the cover this year the teaser was “Remodeling Pays!”

As you read down the list of projects, such as add a bath, deluxe kitchen remodel, family room addition, finished basement, they all pay a fraction of 100%.  This is great if you already own a home, and upgrade for better living while you continue to own it.

The lesson is completely different for home buyers though. in NJ, a major kitchen remodel returns 66.5% market value to the seller.  So the buyer makes a 50% PROFIT, buying the kitchen that was just done, vs. buying and remodeling.  And when you buy the just done improvements, the cost is built in to the purchase price and financed the kindest way-as purchase mortgage money.

So go out on the skinny branches and get the best house you can reasonably afford.  It is better business than under buying and upgrading later. 

For a wealth of information on Westfield NJ real estate and more, visit www.luxuryhomesnj.com

Seller’s Market Returns to Westfield NJ Real Estate Scene

Buyers are encountering short market times, multiple offers and no overabundance of selection of homes in Westfield NJ’s brisk house market.

Buyers of new construction, resale homes, affordable homes, relocation homes, starter homes, luxury homes are all a little surprised to discover they are not alone when they settle on the most attractively presented, most sensibly priced homes in this desirable town.

Since the first of the year, 59 contracts have been signed on an inventory of just 120 homes.  A sales pace of 30 per month means we have a 4 month supply (or absorption rate, in industry jargon.

Housing economy experts agree that 6 month supply is a balanced market, so this is a hot seller’s market by that metric.

If you are holding out for the spring market . . .Real Estate Springtime is here.  For a wealth of information on buying Westfield NJ real estate wisely in any market, or for preparing your Westfield NJ home and pricing for a successful sale, visit my website.

Sales from Jan 1, 2010 to Mar 1 2010

Let’s share the gas deals in and around Westfield, so we can save a few bucks and hopefully buy in a combined trip too.  Please use comments to add your discoveries.  It is most helpful if you will include all the info to fill in the established format.  You can usually find it all on your receipt!

Let’s share the gas deals in and around Westfield, so we can save a few bucks and hopefully buy in a combined trip too.  Please use comments to add your discoveries.  It is most helpful if you will include all the info to fill in the established format.  You can usually find it all on your receipt!

Click on the School or Schools for Market Updates:

Franklin

Jefferson

McKinley

Tamaques

Washington

Wilson

For a wealth of information on Living, Dining, Shopping, Sports, Real Estate and Community, please visit www.WestfieldLuxuryHomes.com

Let’s share the gas deals in and around Westfield, so we can save a few bucks and hopefully buy in a combined trip too.  Please use comments to add your discoveries.  It is most helpful if you will include all the info to fill in the established format.  You can usually find it all on your receipt!