Stone Harbor, Avalon NJ Real Estate Sales and Vacation Rentals by Nancy Alexander, Long & Foster

Homebuyer Insights: How Local Schools Could Impact Your Future Home’s Value

2019-09-24T15:58:00.000-04:00

By Jeffrey Fagan

The desire to be settled into a new home in time for the start of a new school year is one of the primary driving forces behind the annual real estate buying and selling cycle. In Orlando, for example, where school began in mid-August, our transaction numbers traditionally peak in July.

Related: Q&A: Educating Buyers on the Real Estate Impact of Schools

Those who wish to time their move in conjunction with a school calendar should start the home-search process early, especially where low inventory and high buyer competition make securing a desirable property a challenge. Taking into consideration the typical four to six weeks it takes to close, it's not unreasonable to begin looking at available homes a good four months out.

Advance preparation is key when house-hunting in an area that's popular because of its schools (or because of any reason, really). It's important to be ready to make an offer quickly on a home, so you'll want to have your list of wants and needs worked out. And, it's critical to have your financing ducks in a row. Get pre-approved for a mortgage and go through a blank purchase offer with your REALTOR® so you'll be aware of the many decisions you'll be facing.

Schools and Home Values

Schools are, of course, an influence on surrounding home prices. A good school district can increase buyer demand within its boundaries, which in turn increases home values. Homes located in high-scoring school districts attract more buyers, including parents who want their children to go to good schools and others who understand that a good school district helps protect a home's resale value.

On the flip side, a struggling school district can experience less buyer demand, which restrains home values. In addition, a low-scoring public school can decrease the availability of amenities in the area and increase the proportion of renters to homeowners.

Home prices are generally not as impacted by nearby private schools, since attendance to private schools is not dependent on home location. That same theory can sometimes apply to public schools: Even if two elementary schools feed into the same high school, the more desirable elementary school could easily command higher home prices within its attendance boundary.

Prospective homebuyers should explore school districts' websites and visit schools personally to meet with administrators when house-hunting with education in mind. They should also be aware of educational options offered by the district that are not dependent on property location, such as magnet programs and charter schools. For example, many lower-performing high schools in Florida house International Baccalaureate programs and many lower-performing elementary schools receive additional financing and special support; the homes surrounding these schools may be priced lower than those in better districts nearby, yet still offer good educational opportunities.

Buyers can benefit by engaging a local REALTOR® for assistance. In addition to offering traditional services (facilitating showings, negotiating contracts, recommending lenders, following inspections, etc.), REALTORS® can serve as the expert "source of the source" when it comes to educating buyers about districts and schools. District and individual school websites are valuable resources, as are state departments of education. Even private publications and online entities uncovered by a simple Google search gather data and post reviews, and many offer rankings.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

If You Want to Be Happy… Consider Moving!

2019-09-21T15:55:00.000-04:00

Like everyone else, you're probably living your life in search of happiness. Makes sense—that's all anybody wants, right?

Related: These Are the Cities Millennials Are Moving to Right Now

But did you know that simply moving can point you in the right direction? While we make no promises that you'll find complete bliss in one of these spots, WalletHub says these are the happiest states in the U.S., ranked by factors related to "good economic, emotional, physical and social health" that can help you lead a "well-balanced and fulfilled life."

Source: WalletHub

Here are the top five places where happiness reportedly lies:

Hawaii

Total Score: 66.48

Emotional & Physical Well-Being Rank: 1

Work Environment Rank: 25

Community & Environment Rank: 12

Utah

Total Score: 66.48

Emotional & Physical Well-Being Rank: 15

Work Environment Rank: 1

Community & Environment Rank: 2

Minnesota

Total Score: 65.57

Emotional & Physical Well-Being Rank: 3

Work Environment Rank: 6

Community & Environment Rank: 15

California

Total Score: 64.11

Emotional & Physical Well-Being Rank: 4

Work Environment Rank: 12

Community & Environment Rank: 16

New Jersey

Total Score: 60.54

Emotional & Physical Well-Being Rank: 2

Work Environment Rank: 45

Community & Environment Rank: 24

The report considered 31 key factors (such as depression rate, sports participation and income growth) across all 50 states. Surprisingly enough, money doesn’t always equal happiness! WallHub found that happiness only increases with wealth up to an annual income range of $75,000-95,000, so think about that before jumping to another state in search of more money.

If you're going through a bout of depression and are looking for relief, head to Hawaii, New Jersey, Nevada, New York and Georgia, where adult depression rates are at the lowest, currently. In the same vein, you may want to stay away from Oregon, Arkansas, Vermont, West Virginia and Maine, which are seeing the highest rates compared to other states.

If your career is stressing you out, there are states that require fewer work hours all around—head to Utah, Oregon and Rhode Island for a reprieve. And if you think money really is the root of all your problems, look to North Dakota, Colorado, Oregon, Washington and Hawaii since they have the highest income growth.

Happiness is highly subjective, so you'll want to consider your own unique situation to determine what you need in order to keep you feeling fulfilled. Then you can use that as a guide to figuring out where you best belong state-wise!

For more information on the report findings, click here.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Why You Need to Update Your Home Before Listing It

2019-09-07T08:52:00.000-04:00

By Anica Oaks

A home purchase is often the biggest investment a person will make in their life. When the time comes to sell your house, you want to get the best price possible. If you explore one of the many real estate sites online, you'll notice that many homeowners make a point of updating their homes before selling.

Related: How Home Automation Is Taking Over the Remodeling Industry

Here are a few of the many reasons why people modernize their homes before listing them:

New Buyers Don't Want to Immediately Remodel

Major remodels can create a state of chaos in a home that most new homebuyers would rather avoid. Additionally, the costs involved in buying a new home, moving and settling a family into a new space can be significant. They may not be able to do the remodeling projects that are needed for a significant period of time. Buyers will look more favorably upon and be willing to shell out more cash for a home that already has many improvements taken care of.

Strategic Updates Attract More Buyers

Individuals who are considering putting their homes on the market should understand that real estate agents do a great deal of marketing online and through social media. A good visual impression of your home will spark interest in more buyers. An updated kitchen or bathroom, fresh paint throughout the house and new flooring all provide good visual impact that will draw buyers to your listing. Choices for your upgrade should use the most neutral color palettes and most desirable materials, as these will appeal to the greatest number of potential buyers.

Make Your Home More Competitive in the Market

If a homebuyer's choice comes down to one home with desirable features that has not been updated or a home that has been updated but may not be as desirable, buyers are more likely to make an offer on the one that shows signs of TLC and has recently been remodeled. When your home already looks amazing, potential buyers will be able to focus their attention on other aspects of making the home their own.

Most real estate experts will recommend updating your home before putting it on the market, but not to such an extent that you cannot recoup your costs. Some projects, such as kitchen or bathroom remodels, new flooring and exterior maintenance, have a great record of making homes more appealing to buyers, allowing sellers to see a return on their investment.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Real Estate and Technology: A Matter of Meeting Needs

2019-09-04T11:49:00.000-04:00

Commentary by Suzanne De Vita

It's a common problem: Brokerages heavily invest in technology, often to have it seldom utilized, or inadvertently result in "tool fatigue." (It's real!)

Agents are frustrated. Brokers, stumped. If the goal is to keep up with technology, why the abysmal adoption rates?

According to findings from the National Association of REALTORS®, recently released, brokerages commonly emphasize specific tools:

CMAs and e-signature solutions (84 percent)
Multiple listing service (83 percent)
Electronic forms (82 percent)

At the same time, approximately 35 percent of agents are asking their brokers for CRM and/or predictive tools.

What does that tell us? Agents are eager to implement intelligent, synchronized technology, but are caught in a case of mismatched priorities. For them, it's about generating leads and referrals; for brokers, it's about leads, but also managing transactions.

In another interpretation: Agents are focused on nurturing their relationships, and hungry for solutions to support that. (According to NAR, in their day-to-day, 93 percent depend on email, and 95 percent on their smartphone—an indicator of how necessary it is for them to remain in touch.)

In addition, to cultivate their relationships, agents rely on social media, and with good reason. According to the findings from NAR, the highest-quality leads originate on social media, and agents leverage it to "promote business" (26 percent) and "help build/maintain relationships with existing clients." (Facebook is by far the most popular, at 97 percent usage, followed by LinkedIn at 59 percent and Instagram at 39 percent.) Just 13 percent of agents, however, have access to post scheduling tools, which can help with outreach significantly.

On the flip side, 46 percent of brokers are concerned about "keeping up with technology" in the next two years, NAR's stats show, as they contend with evolving systems and tools.

When it comes to consumer needs and technology, however, they're answering the call. When house-hunting online, 87 percent of homebuyers are looking for photos of the property, and 85 percent for detailed information about the listing. Ninety-four percent of brokerages feature listings on their website, giving homebuyers the information they need in their search.

Also, although 76 percent of buyers found their house in a mobile search, just 17 percent found their REALTOR® the same way. Aside from buyers clicking from their desktop, this could indicate two things:

Brokerages lack mobile-responsive websites. (In my humble opinion, unlikely.)
Buyers depend on recommendations and word-of-mouth, in addition to internet testimonials. (According to NAR, 57 percent of brokers include testimonials on their website, and 76 percent include agent profiles.)

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Top 5 Landscaping Tips to Increase Property Value

2019-09-02T11:47:00.000-04:00

Editor's Note: This post was originally published on August 4, 2015. Housecall continues to share this piece due to ongoing requests and reader interest.

Contributed by Rick Ryan

Landscaping is one of the most important ways to increase your property’s value quickly. In fact, a gorgeous landscape design can increase the value of your home by at least 5 to 11 percent—and maybe more. The best part about landscaping is that even though it’s one of the most valuable home improvements you can make, it’s also one of the easiest. If you’re wondering how to turn your landscape into one of your home’s most valuable assets, here are some tips to get you started.

1. Match Landscape to Your Home’s Style

The best way to get an excellent return on investment with landscaping is to make sure it fits with your home’s style. For instance, if you own a Victorian home, a Japanese garden will be sorely out of place and may even lower your home’s value rather than add to it. In this instance, you’re much better off with a country or cottage-style landscape that blends in with the old-fashioned formality of your home.

The same holds true for more modern home styles, such as the prairie or industrial style. If your home falls into one of these categories, you’ll want to stay away from square, formal gardens or a profusion of airy blooms. Instead, create a more modern landscape by relying on plenty of greenery and natural-looking beds that fit the contours of your property.

2. Design With a Strategy in Mind

You’ll need to have a good strategy. That means you shouldn’t clutter the entire yard with various high-maintenance plantings, but you also shouldn’t have plain grass with no landscaping. A study by the Virginia Tech Department of Horticulture found that a good foundation planting along with a couple of well-designed points of interest can increase your home’s value by up to 42 percent.

By that same token, you should encourage diversity among your plantings without taking it too far. The ideal landscape has a good mixture of shrubs and perennials, but it doesn’t have one of every kind of plant that you can find at the garden center. Instead, it has a uniform look with just enough diversity to make it interesting, but not so little that it becomes boring.

3. Achieve Seasonal Balance

A profusion of spring blooms won’t interest potential buyers who look at your home during other parts of the year. Think about ways to make your landscape attractive all year — blooming bulbs for spring, annual beds around the house during the summer, shrubs with brightly colored leaves in the fall, and evergreens for the winter. Even though most buyers will be looking at your home during one season, they’ll notice the balance you’ve created and they’ll think about how beautiful the home will be as the seasons change.

Related Link: 7 Exterior Home Improvements That Increase Resale Value

4. Plant Trees

A few simple trees can make an enormous difference to the sale price of your home. In one study, simply living on a tree-lined street added between 10 to 15 percent to the sale price compared to neighborhoods with fewer trees. So why are trees worth so much? Trees remove carbon dioxide and pollution from the air, so people view them as an eco-friendly option. The shade helps keep neighborhoods and homes cooler and more pleasant, which in turn cuts air conditioning costs. Trees are also a stress reliever — people enjoy relaxing in their shade or gazing at the leafy view.

5. Edge Your Lawn

Few things look nicer than a healthy, vibrant, carefully maintained lawn — except for a lawn that is all of those things and neatly edged. The confined look of an edged lawn gives it an easy-to-maintain look. In other words, no weed whipping or weeding required.

Edging along driveways, sidewalks and garden beds also shows prospective buyers how meticulous you have been concerning the property’s upkeep. They’ll know that if you’re willing to keep the edges of your yard looking nice, the rest of the property is likely in pristine condition, too.

Of all improvements to boost home value, landscape is one that will get you the largest return on your investment. Just make sure that you design your landscape with a plan, and don’t let that design become so complex that the mere thought of all the maintenance chases away your buyers.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Getting a Custom Home? Here’s How to Get the Strongest Roof

2019-08-30T11:45:00.000-04:00

By Meghan Belnap

Homeowners investing in a custom-built home have the unique opportunity to pick and choose how their homes are built and what materials they'll be made of. When building a new home, homeowners must invest in durable customized roofs that are made of high-quality construction materials and utilize the most advanced building techniques.

Related: 4 Areas of Your Home That Likely Need a Touch-Up

Use the following four tips to construct the best roof for a custom-made home:

Use High-Quality Materials

When designing a custom home, it's important to ensure only high-quality roofing materials are used. As the quality of one's roofing materials will affect its longevity, homeowners should choose the most durable roofing options. According to experts, the best roofing material tends to be clay as it lasts longer than traditional concrete roofing tile. Homeowners searching for something less expensive can consider using fiber cement composite material in their roofing.

Invest in the Latest Roofing Structural Tech

Trusses are another important element in a roof's construction. These trusses are designed to transfer the weight of a roof onto the home's load-bearing walls. Homeowners can guarantee their custom homes are well-constructed by using quality roof trusses that are made-to-measure for any custom-made home. In addition to protecting the home, trusses comply with building codes and are designed to fit the shape of any roof.

Consider Metal Roofing

Metal roofing is another popular option to consider for new homes. Though each type of metal differs, homeowners should consider this material for their roofing needs as it's higher in quality overall. As most metal roofs last up to 70 years, their longevity is unmatched compared to traditional roofing materials that had a life expectancy of up to 20 years. Additionally, metal roofs tend to be far more durable as they reportedly can withstand winds of up to 140 mph.

Consult With an Architect

When researching the best choices for new roofing, homeowners should be sure to consult with an architect as well. This is especially important for custom-made homes that are being built from scratch. As some types of roofs are better suited to specific types of designs, it's best to have contractors and architects work alongside one another to ensure that the right decision is made regarding what roofing material and style to use.

The stronger the roof, the more structurally sound the home will be. Be sure to take the above information into consideration when designing your new custom-built home.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

(Really) Great Spaces: Tom Brady and Gisele Bundchen List Their Massachusetts Mansion

2019-08-27T12:46:00.000-04:00

Want to live like a supermodel? How about a football pro? If you happen to have $40 million in the bank and want to move to Massachusetts, you might be in luck!

Related: (Really) Great Spaces: Sugar Ray Leonard's Sprawling Italian-Style Villa

Supermodel Gisele Bundchen and Patriots quarterback Tom Brady recently listed their five-bedroom Brookline, Mass., home for $39,500,000. So what do you get for that price tag, other than walking the halls of the former residence of two greats?

Built in 2015, the 3,261-square-foot mid-century modern home sits on over five acres adjacent to the 9th hole of The Country Club of Brookline—the oldest continually operating country club in the United States. The sprawling home includes a three-car garage, stoned carport and a massive circular driveway that holds up to 20 vehicles—perfect for when throwing lavish parties.

In the front foyer of the home, a grand staircase leads to the five bedrooms upstairs. The lower level includes a kids playroom, rec room, wine room, gym, spa and access to an outdoor organic vegetable and herb garden and in-ground pool.

Out back, a 1,400-square-foot, detached, barn-inspired "guest house" features a yoga studio, bathroom, sleeping loft and sliding walls.

Listed for: $39,500,000

Listed by: Beth Dickerson, Gibson Sotheby's International Realty

Photos by: Gibson Sotheby's International Realty

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Real Estate Study: Top 30 Cities for Millennial Veteran Homebuyers

2019-08-25T12:43:00.000-04:00

In today’s real estate market, homeownership has become more and more difficult for millennials to obtain. However, one subdemographic that may have a leg up? Millennial veterans.

With many having access to VA loans, there's a large block of potential millennial buyers that are qualified to purchase a home with no down payment, mortgage insurance or great credit.

For these reasons, millennial veterans are some of the most successful homebuyers on the market today. It's also why Veterans United Home Loans—the nation's largest VA lender—compiled a list of the top 30 cities for young veterans, as well as active service members.

"The lingering question in housing circles has been when will millennials enter the home-buying market," Chris Birk, director of Education at Veterans United Home Loans, tells Housecall. "The fact is millennial veterans aren't standing on the sidelines."

To create the list, the company compared purchase loan volume numbers for millennials from last year to the same data for that group from 2015. Cities are ranked by their percentage increase in VA purchase loan volume.

Military density is higher in Florida, Georgia and Texas than in most states as a result of more installations and higher veteran populations, which accounts for the large number of cities that made the list from those states.

Additionally, Veterans United Home Loans only considered cities that had at least 75 millennial purchase loans in 2015 and 2018; and the company defines these millennials as any veterans or active service members that were born between 1981 and 1996.

Here are the top 30 cities for millennial veteran homebuyers:

Jacksonville, Fla. Metro Area VA Purchase Loan Growth (Percentage):	228.80
Tampa-St. Petersburg-Clearwater, Fla.	144.80
San Antonio, Texas Metro Area	135.50
New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa. Metro Area	129.50
Hinesville-Fort Stewart, Ga. Metro Area	116.90
Miami-Fort Lauderdale-Pompano Beach, Fla. Metro Area	107.60
Virginia Beach-Norfolk-Newport News, Va.-N.C. Metro Area	107.30
Fayetteville, N.C. Metro Area	103.70
Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va. Metro Area	102.30
Chicago-Naperville-Joliet, Ill.-Ind.-Wis. Metro Area	101.90
Killeen-Temple-Fort Hood, Texas Metro Area	100.00
Atlanta-Sandy Springs-Marietta, Ga. Metro Area	93.80
St. Louis, MO-Ill. Metro Area	81.30
Oklahoma City, Okla. Metro Area	79.80
Dallas-Fort Worth-Arlington, Texas Metro Area	77.50
Baltimore-Towson, Md. Metro Area	73.10
Savannah, Ga. Metro Area	68.00
Phoenix-Mesa-Scottsdale, Ariz. Metro Area	66.20
Seattle-Tacoma-Bellevue, Wash. Metro Area	61.80
San Diego-Carlsbad-San Marcos, Calif. Metro Area	61.40
Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. Metro Area	59.10
Denver-Aurora, Colo. Metro Area	58.80
Jacksonville, N.C. Metro Area	56.50
Houston-Sugar Land-Baytown, Texas Metro Area	54.80
Riverside-San Bernardino-Ontario, Calif. Metro Area	54.10
Kansas City, Mo.-Kan. Metro Area	42.60
Omaha-Council Bluffs, Neb.-Iowa Metro Area	41.00
Clarksville, Tenn.-Ky. Metro Area	32.20
Boston-Cambridge-Quincy, Mass.-N.H. Metro Area	26.50
Los Angeles-Long Beach-Santa Ana, Calif. Metro Area	24.40

To view all of Veteran United Home Loans' key findings and for a full breakdown of their methodology, click here.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

6 Essential Tips for Selling a House ‘As-Is’

2019-08-23T12:41:00.000-04:00

By Wendy Dessler

Selling your home without fixing it up first presents potential challenges for some homeowners. For others, it may open up different opportunities. Selling a house "as-is" can be a good thing. It all depends on your approach to selling it.

Related: 4 Real Estate Deal Breakers and How to Fix Them Efficiently

Here are six essential tips to help make the sale a smooth transition:

Flexibility Is the Name of the Game

Flexibility is really important when you decide to sell a house "as-is." You're asking buyers to purchase your property without making any changes to it. There may be serious problems that need to be corrected, so being flexible is definitely in your best interest.

In situations like this, people are looking to purchase a house inexpensively. For this reason, it's unlikely that you're going to find a buyer willing to pay the exact price you're looking for. However, you always have the ability to negotiate to try to get a higher price.

Don't Be Afraid to Make Some Necessary Repairs

In certain situations, it may become incredibly difficult to sell your house without making any repairs. Sure, you'd love to sell the place "as-is," but that doesn't mean buyers are going to be interested if too many things need to be fixed.

Take a moment to really look over your home. Is it in rough shape? Does it need extensive repairs like a new roof, a new foundation, or worse? If you answered "yes" to any of these questions, it's likely time to consider making certain upgrades to make your property more appealing to potential buyers.

Obviously, no one is going to force you to make changes. However, it's sometimes best to give in and go against your wishes just to have a better shot at selling your home.

Know How Much Certain Repairs Will Cost

Even if you never intend to make any repairs, it certainly doesn't hurt to know how much it'll cost to fix some of the issues plaguing your home.

This is important information you can pass along to potential buyers. For example, if a prospect asks how much it'll cost to replace your old roof, you can supply them with an estimate from a local roofing company.

Openness and Honesty Is the Best Policy

Always be transparent with potential buyers about issues with your home. It's best to disclose everything to potential buyers right away because if they're serious about purchasing your home, they'll find out about existing problems as soon as they have the home inspected.

However, by the time a homebuyer has your property inspected, they may get upset if they believe you tried to hide something from them. If the repairs needed for your home are too major, they'll walk away from the deal anyway—so always be upfront about these issues.

Ask Your Buyers to Pay a Fair Price

It may seem obvious, but asking for a fair price is going to be critical to your success. If you try to sell your home for too high a price, many prospects will be turned off. Potential buyers might not even bother looking at your house if the price is set too high.

Instead, when selling your home "as-is," try not to get too greedy. Remember, the competition is thick and there are plenty of other homes on the market. So be sure to ask for a fair price and you should be fielding offers in no time!

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

How to Create Fun and Magical Backyards Despite the Size

2019-08-19T14:47:00.000-04:00

By Barbara Butler

My mom insisted we go outside and play every day, no matter what the weather. We might have grumbled about it on cold and rainy days, but once we were outside, we always ended up having fun. Getting the kids off their devices and outside in the fresh air can be a bit difficult—if your backyard isn’t as large as you’d like, you might feel extra discouraged on this front.

Related: 9 Ways to Beautify Your Backyard

However, you can create an enticing and magical outdoor play area for your children, no matter the size. After building unique backyard play structures and tree houses for over 25 years, I’ve learned how to transform many challenging terrains into the focal point for children's play. Here are some ideas to get you started on your own transformation:

Work With Your Site

Analyze your backyard before you begin designing. Where's the shade? Where will you sit to watch the kids? What other activities do you use your yard for, such as barbecuing, yoga, gardening or exercising the dog? Is there a way to make the space multi-purpose, such as by rolling out your yoga mat under the treehouse?

Take advantage of the natural features of your space rather than fighting against them. Build a slide right into a slope, terrace a hillside to create a multi-level play area with climbing ladders and/or slides in between, or nestle a clubhouse next to the branches of a tree. Perk up small, unused areas with a sandbox (try using tree rounds as the border), water table or low balance beam. Hang a giant knotted rope from a tree branch. And—one of my favorites as a child—gather all the neighborhood kids and create an obstacle course from things you find in the garage and yard. Then start the timed races to see who can finish the fastest.

Imaginative and Physical Play Features

Kids want to exercise both their imagination and their muscles. To this end, I recommend combining physical and imaginative play features. For example, add rock climbing holds and crenellations to an existing fence, so the kids can defend or attack the monarchy, rather than just climbing up a wall. If you have a ship theme, choose a nautical knotted rope climb, create a sandbox in the shape of a boat and add pirate flags to the deck. If you have a deck, turn it into a theater! No matter the theme, a slide always lends itself to a quick get-away. (Pro tip: Spiral tube slides require much less space than straight ones.)

Loops of Play

Try to imagine the kids running around—now create lots of fun "loops" of play instead of creating dead-ends. This means creating multiple ways up and down a structure, such as ladders, slides, fire poles, steps and ramps. Wherever there's an up, have a down close by. Imagine the kids playing tag and make sure there's nowhere they can get boxed in. Even areas meant to feel cozy can have an extra way out.

I often include a "secret" escape hatch in my playhouses hidden underneath a table or counter. Give the kids places to go—up the ladder, across the bridge, ring the bell, then down the slide and back again—and they'll wear themselves out for a good night's sleep.

Build Up

If the footprint of your yard isn't as expansive as you'd like, consider building up. A two-story playhouse gobbles up no more of your lawn than a single-story one. A treehouse nestled in the branches of a tree leaves the space below open for other types of play. If you have room to build two towers, connect them with a bridge and you can add swings or monkey bars underneath.

Greenery

I'm a big fan of tree houses, so if you have a suitable tree to build in or near, that's a great way to create the magic, no matter the size of your yard. After all, don't the best adventures start with entering the mysterious, leafy world of the treetops? No trees in your yard? You can create the same inviting feeling of becoming ensconced in greenery by planting climbing vines or bamboo around the play area.

Safety

There's nothing magical about an unsafe play environment. By eliminating unnecessary risks, you'll create a stimulating space for your children to freely challenge themselves without going too far. After all, you want to be able to send your kids out to play by themselves with minimum supervision and without the worry of a serious injury.

The most important safety feature of any play structure is to make sure you have established a "use zone" filled with resilient surfacing material, such as bark chip, sand, rubber chip, rubber matting or pea gravel. Experts have proven that the installation of a resilient surfacing material in the play area is by far the most important safety feature you can provide. The "use zone" should be at least six feet of obstacle-free space all around the play structure.

Use green products because they're safer for kids and the planet. Build with redwood or other natural lumber, not chemically pressure treated wood, which is harmful to kids. I use redwood from well-managed forests and non-toxic tung oil stains that contain no mildewcides (a very toxic compound that inhibits the growth of mildew). When cleaning my structures, I use a biodegradable citrus-based cleaner instead of commercial cleaners.

Prevent pinched fingers: Leave half-inch gaps around doors and shutters so little fingers will not get pinched when closing by grasping the edge. Also, leave quarter inch gaps in floorboards so water will drip through in the rainy season and not puddle. You'll definitely want to add doors and shutters–one of the first things children do is open and close the shutters about 900 times!

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

How to Find the Right Home If You’re Part of a Beginning Family

2019-08-16T14:43:00.000-04:00

By Meghan Belnap

As your family grows, it's important to create an environment that's conducive to creating lasting experiences and memories. That's why you should ensure your family has a comfortable and spacious place to live.

Related: How to Afford a Luxury Family Home With a Reasonable Mortgage

If you're a part of a beginning family, you'll need to consider which type of home will work best for you. Here are some things to think about:

Cost

Buying a home is a massive investment that'll require upfront costs. You'll need to consider whether you have enough to cover the down payment, closing costs and more. Sure, it's possible to negotiate a portion of the fees with your agent's help; however, you don't want to come to the table with no money down.

Maintenance

Once you've purchased a home, you'll want to consider the cost of maintenance. This is one factor that many people don't fully take into consideration. It's wise to set money aside to cover expenses like repairs and updates. It's also really important to consider monthly maintenance costs, like various utility bills.

Resale Value

If you decide that your next home is where you'll want to set your roots, you don't need to worry about reselling your home; however, if you know that you'll want to upgrade within the next 5-10 years, it's a good idea to consider the resale value of both options. If you were to add a few upgrades to a single-family home, the impact it can make in terms of how much more money you'll get when you resell can be major. A professional who offers real estate services can help you work through those details to help you decide the most feasible option for your family.

Space for Kids

The more children you plan to have, the more space you're likely going to want. While you can maneuver around the dilemma of limited space by using bunk beds and room dividers, that can only last for so long. Think about the future members of your family and the space you'll need as you figure out the type of home to buy.

Ultimately, you need to make a decision that honors the goals you've created. As you think about your goals, your family's future and the reality of your situation, it'll be easier to make the decision that works best for you.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

4 Affordable Ways to Get a First Home to Start Your Family

2019-08-10T09:42:00.000-04:00

By Meghan Belnap

If you’re ready to start a family, you’re likely concerned over how you’ll be able to afford the right family home. You can save money on your first family home by going through the right channels to secure the best deal.

Related: Looking to Buy Your First Home? Settle These Things First

Here are four affordable ways to get a first home to start your family:

Apply for First-Home Buyer Assistance

Certain loans and grants are available to first-time homebuyers to ease the purchasing costs. Programs sponsored by the U.S. Department of Housing and Urban Development (HUD) can save you money on a home and even help you with public housing residence, if necessary. A Veteran’s Administration (VA) loan might be available to you if you’ve served in the armed forces. You might also be eligible to apply for a USDA loan or an FHA loan.

Choose a Condo Instead

Most families want to live in a house, but there are plenty of condos for sale that make great family homes. Some condominium complexes also have security guards on staff and take other measures to keep residents safer. Buying a condo that’s large enough to support you and your growing family can be done with help from a reputable property management company.

Get Preapproved

Getting preapproved for a mortgage will help you budget better so that you can know exactly where you stand financially. To get preapproved, your prospective lender will examine your income, credit score and other financial details to determine if you’re eligible. There are online services that can be used to determine if you can get preapproved. However, it should be noted that preapproval doesn’t necessarily guarantee you a loan.

Work With the Right Real Estate Agent

A real estate agent who’s experienced in working with people who have similar budgets to yours can help you find the right home faster and at the lowest rate. The best agents know how to negotiate deals and stay updated on the housing market conditions to follow local real estate trends. The agent you hire can show you a variety of homes in the area you wish to live and offer sound advice to help you with your purchasing decision. Any agent that you choose should be licensed and willing to show you references.

Getting into a home that suits your family can be possible with the right methods. Following the best advice and taking advantage of the most suitable programs for first-time homebuyers will point you in the right direction!

source: Housecall

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

(Really) Great Spaces: Sugar Ray Leonard’s Sprawling Italian-Style Villa

2019-08-08T11:22:00.000-04:00

Boxing legend Sugar Ray Leonard has just listed his Pacific Palisades, Calif., home and it's as grand as the man himself. Nestled in the prestigious Riviera section of the Los Angeles neighborhood, Leonard has listed the 16,773-square-foot property for $51,995,000.

Related: (Really) Great Spaces: Jacqueline Kennedy Onassis's Martha's Vineyard Estate

Designed by architect Richard Landry—who is a legend in his own field—the Italian-style villa was built by the Leonards almost 23 years ago. The seven-bedroom estate features a gorgeous ivy-covered façade and a formal foyer which leads to a grand center hall that connects the home's living room, formal dining room, solarium and kitchen.

The estate also has a large gym and media room, as well as six massive fireplaces imported from Europe and stone floors imported from Jerusalem.

"This home has been a peaceful oasis offering incredible privacy and superior amenities to raise our family," says Sugar Ray's wife, Bernadette.

Outside amenities include a detached two-story guesthouse adjacent to the pool, a huge patio space, a spa and a tennis court.

Listed for: $51,995,000

Listed by: Coldwell Banker Residential Brokerage

Photos by: Coldwell Banker Residential Brokerage

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

How to Get the Best Price When Selling Your Home

2019-08-05T11:17:00.000-04:00

By Meghan Belnap

If you're selling your home, you're likely trying to make as much of a profit as possible. Unfortunately, most markets are crowded and it can be difficult to stand out. If you want to get a good price, you should consider following these steps:

Work With an Appraiser

Your first step should be to work with an appraiser. A good appraiser will help you not just to figure out how much your home is reasonably worth, but also help you to figure out which parts of your home are the most marketable. If you can put more of an emphasis on those features, you'll have a much better chance of selling your home for a great price.

Do Your Homework

Your next step is to start doing your research, and that typically means doing more than just typing "sell my house" into a search bar. You're going to want to work with local real estate professionals to figure out not just how much your home is worth, but what the market is like in your area. Remember, it's often the other homes that are up for sale at the same time as your own that'll determine exactly what kind of asking price you'll be able to post.

Finish Major Repairs

No one wants to buy a home that needs major repairs completed. Take some time to look at the most problematic areas of your home and to get the work done. Though this does mean spending money, doing so will make your home look more attractive to buyers. If you can present a home that looks like it's move-in ready, you may be able to sell your home more quickly and get more from your potential buyers.

Stage Your Home Professionally

Finally, take some time to work with a professional in order to stage your home before your showings. You want to highlight your home's potential, so make an investment that'll really wow the people who are looking at it. Just a bit of time and money spent on staging can have a huge impact on how buyers perceive your home.

Getting a better price for your home is largely a process of understanding what your home is worth and then marketing it as best you can. Get your home appraised, make it look great and take steps to make sure it stands out. Once that's done, you'll be sure to fetch a good price!

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Beat the Heat with Lakefront Living: Realtor.com® Ranks Affordable Lake Towns

2019-08-03T11:15:00.000-04:00

It's been a scorcher this summer, with temperatures reaching record highs. So it's no wonder the masses are heading toward the water in search of a summer heat reprieve.

Related: Great Spaces: Beachfront Living at Its Best

Forget beach houses, however. Lake towns are trending and realtor.com® just announced the best affordable lake towns of 2019. Here's how they rank, according to the report:

Branson, Mo.

Median List Price: $205,900

East Stroudsburg, Pa.

$187,000

Port Clinton, Ohio

$259,900

Jamestown, N.Y. (Chautauqua County)

$59,900

Alexandria, Minn.

$288,900

Clearlake, Calif.

$219,900

Spirit Lake, Ind.

$315,000

Mountain Home, Ark.

$174,900

Baraboo, Wis.

$189,900

Sandpoint, Ind.

$429,000

Where should you buy your lakefront vacation home? It all depends on what you're looking for. Realtor.com®'s rankings reflect properties listed on its website that appeared after searching phrases like "lake view" and "lake house" across 900 U.S. metropolitan and micropolitan areas. Only locations that had over 50 listings in a 12-month period, as well as median home prices below $450,000, made the cut. Also taken into consideration were amenities—what percentage of these homes offer easy access to dining, drinking and outdoor activities?

For those who like paddle boats and water skiing, Branson's Table Rock Lake offers 43,000 acres for water sport enjoyment. If you're looking for some antique shopping, Port Clinton may be more your taste. But if fishing is what you love to do, take a look at Mountain Home for some grade-A bass catching.

"Lake towns offer people an affordable destination with water sports, amenities, natural beauty and an array of often top-quality dining options," said Clare Trapasso, senior news editor at realtor.com®, in a statement. "Some of these lake towns also double as ski resorts in the winter. Those who enjoy cold-weather sports, in addition to summer activities may, in fact, be getting a home they can enjoy throughout the year."

For more information on lakefront living, visit www.realtor.com.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Planning to DIY Your Kitchen Floor? Here’s What You Need

2019-07-31T10:53:00.000-04:00

By Meghan Belnap

Redoing your kitchen floor on your own is an ambitious undertaking that can be accomplished with the right supplies, tools and know-how. Whether you want to redo your floor by yourself to save money or simply for a sense of accomplishment, there are several ways to get the job done.

Related: DIY Disasters: Best and Worst Home Improvements for Weekend Warriors

Here are several things that you will need in order to complete your DIY kitchen flooring project:

Exact Floor Measurements

Your entire project could wind up in chaos if your floor measurements aren’t correct. The floor measurements will determine the sizes and shapes of the tiles you’ll need, along with where they’re placed. If the shape of your floor is square or rectangular, you can get the correct measurements by taking the length and width measurements and multiplying them together. For a floor with a more unusual shape, you’ll need to divide each section into rectangular units with string or other markers, and then add the measurements of each unit to get the correct total.

Get the Right Tiles and Caulk

Next, choose the tiles that will go best in your kitchen. Tiles are available in different shapes, sizes, colors and materials, and making the right choice will depend on your specific requirements and personal taste. To set the tiles into place and hold them together, caulk that’s formulated to prevent cracks and loose pieces will be needed. Be sure to lay tiles down together before you add the caulk so that you can ensure that they'll fit in the given space.

Use the Proper Installation Equipment

Some of the tools you’ll need to complete your project include a notched trowel and a grout float made of rubber along with grout nippers. Masonry saws also work well when sawing tiles that don’t fit exactly into a particular space. When using a tile nipper or masonry saw, it’s always advisable to wear safety glasses and a mask to filter out the particles in the air. Stone or ceramic tiles should always be wet when cut to prevent sending dust everywhere that can get in your lungs and eyes. If you’re uncomfortable cutting the tiles yourself, many hardware stores offer that service for you.

Cleanup Supplies

You’ll likely have a big mess on your hands after you’ve completed your project, and you’ll want to have cleanup supplies handy. Sweeping with a broom or using a vacuum to clean up dirt, dust and other debris can eliminate a lot of the clutter. Having trash bags handy for removing spare pieces and supplies that aren’t needed will also be helpful. Going over your new tiles with a mop and coat of wax will make them look especially attractive. Also, disinfectant spray can be used for a more thorough sanitizing.

Going the DIY route to install a new kitchen floor can be both a challenging and rewarding experience. Getting everything that’s needed to complete the project beforehand can save you a lot of time and additional hassle.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

(Really) Great Spaces: Jacqueline Kennedy Onassis’s Martha’s Vineyard Estate

2019-07-29T10:50:00.000-04:00

by Zoe Eisenberg

Red Gate Farm, the formal name of Jacqueline Kennedy Onassis's Martha's Vineyard estate, recently hit the market for $65 million. Located in Aquinnah, Mass., the estate sits on 340 acres at the edge of Squibnocket Pond, and includes over a mile of Atlantic Ocean beachfront access.

Kennedy Onassis purchased Red Gate Farm in 1979, when the acres of land—operating as a sheep farm—housed nothing more than a small cabin on its grounds.

The estate was built in 1981 and renovated in 2000, and has been treasured by the Kennedy Onassis family for over 41 years. Now, Jacqueline's daughter, Caroline Kennedy, seeks the next steward for this ecological haven.

The property includes a 6,456-square-foot, cedar-shingled main residence with five bedrooms and two large decks facing the beach's sandy dunes, as well as a two-story, four-bedroom guest house.

Outside, features include two freshwater ponds, a vegetable garden, blueberry patch, an outdoor pool, tennis court and a fairy treehouse built for the Kennedy Onassis grandchildren. The original cabin still remains on the property. Other structures include a three-bedroom caretaker's house, a barn, two garages (one with a two-bedroom apartment), a temperature-controlled storage building and a boathouse.

Red Gate Farm is being marketed globally by Christie's International Real Estate, which is represented locally by Tom LeClair and Gery Conover, agents of LandVest, the exclusive Affiliate of Christie's International Real Estate on Martha's Vineyard.

Listed for: $65,000,000

Listed by: Christie's International Real Estate

Photos by: Christie's International Real Estate

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

June 2019 Existing-Home Sales

2019-07-26T10:46:00.000-04:00

By: Michael Hyman
NAR released a summary of existing-home sales data showing that housing market activity this June fell 1.7% from May 2019. June’s sales of existing homes fell 2.2% from June 2018. June’s existing home sales reached a 5.27 million seasonally adjusted annual rate.

The national median existing-home price for all housing types reached a high of $285,700 in June, up 4.3% from a year ago. This marks the 88th consecutive month of year-over-year gains.

Regionally, all four regions showed growth in prices from a year ago. The Midwest had largest gain of 6.7% followed by the South with a gain of 4.9%. The Northeast had an increase of 4.8% followed by the West with the smallest increase of 2.3 from June 2018.
June’s inventory figures are up from last month 1.0% to 1.93 million homes for sale. Compared with June of 2018, inventory levels were flat, showing no change. It will take 4.4 months to move the current level of inventory at the current sales pace. It takes approximately 27 days for a home to go from listing to a contract in the current housing market; homes only stayed on the market 26 days last year as well.

From May 2019, all four regions showed inclines in sales. The Northeast had the biggest incline in sales at 4.7%. The Midwest rose 3.4% followed by the South and the West, both with a gain of sales of 1.8%.
From a year ago, all the four regions showed declines in sales. The South had the smallest decline in sales at 0.4%. The Midwest fell 1.6% followed by the Northeast with the decline of 4.2%. The West had the biggest drop in sales of 5.2%. The South led all regions in percentage of national sales, accounting for 42.7% of the total, while the Northeast had the smallest share at 12.9%.

In June, single-family sales were up 1.5 % and condominiums sales were up 3.3 to last month. Single-family home sales fell 1.7 % and condominium sales were down 6.5 compared to a year ago. Single-family homes had an increase in price up 4.5 % at $288,900 and condominiums rose 2.8 % at $260,100 from June 2018.

Source: https://www.nar.realtor/

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

8 Ways to Make Your Backyard a Summer Paradise

2019-07-20T10:07:00.000-04:00

By Sage Singleton

Summer is the season to be outdoors. It’s the perfect time for backyard barbecues, neighborhood socials, and late-night evenings on the patio. You don’t need to travel to a luxurious and exotic location to enjoy spending time outdoors. Make your own backyard a summer paradise with these eight simple suggestions.

Inspect and update wooden decks

To make your backyard a summer haven, take some time to inspect and update your deck. Wooden patios and decks can be warped by cold weather, so you’ll want to replace loose or missing slats as needed. Sand, stain, and seal your deck once you’ve made sure it’s structurally sound. If you have a stone patio, check for missing pieces and update as needed. Once this is complete, you’ll have a shiny and appealing deck you can decorate with patio furniture—creating a relaxing sitting area for summertime.

Purchase patio furniture and essentials

Once you have a designated patio or deck space, you’ll want to add some patio furniture so you can sit down, mingle with friends and family, and relax. Consider purchasing weatherproof patio furniture that is both comfortable and durable. Patio furniture can be exposed to harsh, seasonal weather, so you’ll want to make sure it lasts for years.

Get the basics including some lounge chairs, an umbrella, a hammock, and an outdoor table so you can enjoy meals or games outside. In addition to patio furniture, you may want to buy or build an outdoor fire pit. It’s a simple feature that adds so much to your backyard. Sit around the fire and socialize, roast marshmallows or even cook dinner on your own backyard fire place.

Add colorful cushions and pillows

You’ll want to add a splash of color to your patio so it’s eye-catching and sings of summertime. Buy some bright-colored, and comfortable throw pillows and cushions to spice up the furniture. The bright colors and fun patterns will entice people to sit down, relax, and enjoy your backyard paradise.

Get a rug for the patio

Consider adding a rug to the patio or deck area to make the space feel cozier. Outdoor rugs vary in material, size, and shape and are generally made to last in all types of weather. They make a great addition to your space, and can also protect your deck.

Install outdoor lighting

Nothing is more magical than twinkling lights against a royal-blue evening sky. Add strands of tea lights or other innovative lights to create a fairy-tale effect in your backyard. In addition to the decorative lighting, you’ll want to consider adding sensor or smart lights to your backyard for added security. Smart lights are a great way to ensure the backyard is lit—you can even control smart lights with your smart phone.

Make the backyard private

You may love your neighbors, but that doesn’t mean you want them always peeking into your backyard. Be creative when thinking of ways to ensure better backyard privacy. One easy way to create a private, secluded backyard paradise is to install a fence. Not only does it ensure privacy, but it is an essential safety measure. Install a strong, secure fence to create a private and safe backyard.

Update your landscaping

Landscaping can make or break your backyard. It’s essential to take time to update your landscaping to create an outdoor paradise. You don’t need extravagant plants or trees to make your backyard grand. Take some time to cut back unruly trees and bushes, pull the weeds, water and trim the lawn, and plant flowers around the yard. These simple updates will make a world of difference. You’ll have your own secret garden in no time!

Secure outdoor belongings

Once you’ve created a magical backyard space, you’ll want to take the necessary precautions to safeguard your belongings. Make sure your garden tools and supplies are in a locked shed—away from kids, pets, and burglars. Take time to assess the backyard for any security breaches. This will keep your family safe and protect your backyard, patio, and deck from major damages.

Summer is a wonderful time to relax and enjoy being outdoors. Update your own backyard and you’ll have access to a private paradise any time you want.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

4 Areas of Your Home That Likely Need a Touch-Up

2019-07-17T10:01:00.000-04:00

By Anita Ginsburg

Regular maintenance is an ongoing process for every homeowner. Keeping up with smaller projects is essential if you want to avoid major problems down the road.

Related: Becoming a Home Maintenance Pro: Tips for New Homeowners

With a little bit of preventative maintenance, you can ensure that your home remains beautiful and efficient for years to come. Here are several areas of your home that are likely in need of some attention:

Roof

A well-constructed roof should last for at least 30 years, but some of the shingles will need to be replaced well before that. Replacing damaged tiles is immediately going to improve the appearance of your home, and that simple project could help you avoid serious water damage. As a general rule, tiles and shingles need to be replaced if they are curled, cracked or bent. You also need to replace any metal flashing that is bent or warped.

Exterior Walls

Putting a fresh coat of paint on your home can have a huge impact on its curb appeal. While you can paint your own home—there are many people who do—you may also want to hire a residential painting company. Trying to paint exterior walls without the proper tools and equipment is going to be exhausting, even dangerous, if you have a multiple-story home. An experienced team of painters should be able to paint your walls and trim in one or two days, and many contractors guarantee their work.

Front Door

Painting your front door is another simple project that shouldn't take more than a few hours—you won't need anything more than a few basic tools and a can of your desired paint. If you plan on selling your home in the near future, then you should pick a relatively neutral color that matches the exterior walls and trim. Also be sure to coat the door in some type of exterior sealant if you want the paint to last.

Windows

Modern windows usually last for decades, but older panes and sills are inefficient. After a few years, your windows might become warped, and that'll allow air to escape. You can continue to seal around the outside of your windows once every few years, but you should consider replacing them entirely if they are old and unsightly. Modern windows will improve the efficiency of your home while boosting its appearance.

Before you tackle any of these projects, make sure to research all local building codes. While most cosmetic renovations don't require any permits, there are strict regulations regarding major structural modifications, and you could face huge fines and fees if you don't adhere to those codes.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

6 Questions to Ask Your Lender Before Getting a Mortgage

2019-07-01T09:03:00.000-04:00

By Miron Lulic

Asking the right questions when shopping for a mortgage is crucial, and failing to do so could cost you thousands.

Related: How to Afford a Luxury Family Home With a Reasonable Mortgage

The first question you need to ask yourself is, "How many mortgage loan applications am I going to fill?" You can save a significant amount of money long-term by investing in mortgage comparison shopping. For instance, the spread in 2018 for the highest and lowest mortgage rates was approximately 1 percent (3.95 percent vs. 4.94 percent). That's a pretty narrow range, historically speaking. In 1981, the mortgage rate spread was nearly 3 percent (14.8 percent vs. 18.63 percent). Even a 0.5 percent difference on a $300,000, 30-year mortgage can save you enough money to buy a 2019 Subaru Legacy in cash and still have enough left over to keep the gas tank full for a year ($31,600).

Incidentally, interest rates can vary by more than half a percent, even for people with good credit, depending on which lender you choose. Here are some questions you should ask your lender:

Is there anything I can do to apply for a better rate?

You may be surprised by the options available. Some lenders may offer a lower rate if you increase your down payment or reduce your debt-to-income ratio. Adding a well-qualified cosigner can also improve your rates considerably, although that can come with its own issues.

Do I need to buy points to get the advertised rate?

Most lenders will offer a better rate if you buy points. Points are a form of prepaid interest that allows you to buy a lower interest rate for the duration of the mortgage. To illustrate, let's say your credit score and income qualify you for a 5.27 percent APR on your mortgage. Your lender may offer you a 0.27 percent reduction of your APR if you pay $2,000 for two points.

Is buying points a good investment? It all depends on how long you plan to stay in your home, your cash flow and what returns you could obtain from your money if you invested it somewhere else. How long would you have to make mortgage payments before the points pay for themselves? On a $100,000 mortgage with a 30-year term, you would have to stay in your home approximately seven years before you could recover the cost of your investment in points.

The details will change depending on your mortgage terms, so be sure to ask your lender what your breakeven time is before you choose to buy points. Lenders are required to make disclaimers clear and conspicuous, but it's easy to miss a footnote when comparing multiple loan offers. Check that all the rates you're comparing don't have strings attached.

Can I pick my own homeowners insurance?

Lenders are only allowed to pick your home insurance for you when you choose not to buy a policy and your mortgage terms require it; however, some unscrupulous lenders do push borrowers to buy overpriced policies from their insurance subsidiaries.

What is the rate lock and what happens if we haven't closed by the time it runs out?

A rate lock is an agreement between you and the lender to guarantee a rate for a specified time period. This is useful because your interest could change during the application process for all types of reasons: Your credit score could drop, the appraisal of your home may not go as you expected, your lender’s method of calculating your income may be different, and, of course, the market interest rates could change at any time.

Some rate locks come with a float down option, which allows you to take advantage of a better APR if the rate drops. In both cases, lenders may charge a lock fee for the service. Make sure you understand the cost and the consequences when the lock expires. Ask how much it will cost to extend the lock if the closing process lasts longer than expected. Note that initial loan estimates will specify the terms and cost of the rate lock, but will not tell you how much extending it will cost. You need to ask this specifically to avoid surprises.

How long should I expect to wait for the mortgage to close and when can I expect my letter of commitment?

This information is particularly important when you're buying in a seller's market and properties sell fast. Look for lenders with a fast underwriting process that provide preapproval letters.

Can you give an estimate of the total closing costs?

Closing costs are the part of the mortgage process borrowers are least familiar with. Only 49 percent of buyers reported being very familiar with closing costs and 14 percent described themselves as completely unfamiliar, according to a recent survey by the Consumer Financial Protection Bureau.

Again, the spread in costs from one lender to another is significant. The names of closing fees are often suspiciously vague. For example, origination fees can vary from 0 percent to 1.5 percent of the loan principal. Remember to be aware that lenders may also charge a document preparation fee (anything from $50 to $250) or charge "processing fees" that vary from $500 to $1,200.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

4 Top Modern Methods of Investing in Real Estate

2019-06-29T08:59:00.000-04:00

By Meghan Belnap

Investing in real estate is a great way to earn some extra money for yourself. You can put the money that you make from real estate into a retirement fund, your children’s education or another important life expense. Here are four ways to invest your money in real estate that could pay off handsomely in the end:

Buy a Family Rental Home

Whether you want to purchase a single home or multiple houses to rent out to tenants, investing in a rental property is one of the best ways to earn continuous income. You can choose to rent to families on a short- or long-term basis. It’s important to establish rental terms with your tenants and specify these terms in a lease or another type of agreement.

Split Homes Into Stratas

Another way to capitalize on your real estate investment is by turning single-family homes into stratas so that multiple families can rent a single property. This will only work if your rental home is large enough to divide into separate units that have an adequate number of bedrooms and bathrooms. You may also need to install multiple kitchens so that renters in each unit have a place to cook. If you’re unsure of how to best go about dividing a rental home into stratas, a strata titling service in your area can provide assistance.

Purchase Apartments

If you have the finances, you can purchase an apartment building with multiple units that can be rented to tenants. There are also apartment units that are spread out on larger plots of land to give tenants more privacy—purchasing one of these properties may also be to your liking. You’ll likely have to deal with people moving in and out on a frequent basis, but rental apartments provide some of the surest forms of steady income.

Flip Houses

House flipping involves purchasing old homes that are often dilapidated and need a lot of work to become habitable again and then doing the necessary maintenance to make them livable and sellable. You can cash in on a major profit if you perform the right upgrades. In addition to the house itself, you’ll also likely need to invest money into having the yard landscaped and cleaned so that the property is more presentable to potential buyers.

Becoming a real estate investor can secure your future for the long term. Investing your money wisely into the right types of properties can lead to fast success!

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Market Minute Report Avalon and Stone Harbor NJ May 2019

2019-06-27T08:55:00.000-04:00

(Read Full Report Here:) https://marketminute.longandfoster.com/Market-Minute/NJ/Avalon-Stone-Harbor.pdf

Market Minute Report May 2019

Units Sold
There was an increase in total units sold in May, with 46 sold this
month in Avalon and Stone Harbor. This month's total units sold was
higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is
lower by 6 units or 3%. The total number of active inventory this May
was 222 compared to 228 in May 2018. This month's total of 222 is
higher than the previous month's total supply of available inventory of
212, an increase of 5%.

Median Sale Price
Last May, the median sale price for Avalon and Stone Harbor Homes
was $837,500. This May, the median sale price was $1,622,500, an
increase of $785,000 compared to last year. The current median sold
price is lower than in April.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Home Sellers: 4 Things to Replace Before You List Your Home

2019-06-25T11:01:00.000-04:00

By Meghan Belnap

It's rare that a person can put a home on the market without doing any work. While you might have been concentrating on the big changes before you put the for-sale sign in your yard, it's important to remember the little things, as well. Below are four things you should consider replacing before you put your house up for sale:

Paint

Adding a fresh coat of paint is one of the best ways to liven up the look of your home. If you have the time and ability to do so, repainting both the exterior of your home and all of the rooms is a good way to go; however, if you're limited on funds, make sure to repaint any area that has seen significant wear and tear.

Broken Locks and Handles

If there are a number of broken locks and handles in your home (with which you have grown accustomed to dealing with), these can be major problems for new owners, especially if they make a prospective buyer feel unsafe. As such, it's a good idea to replace any broken locks and any broken door handles that might be in your home before listing.

Carpet

Old carpet can wreak havoc on your attempts to sell your home. Not only does it have the possibility of making your rooms look dingy or out-of-date, but also, old carpeting can hold onto smells no matter how often you've attempted to have them cleaned. Consider getting entirely new carpet in your house before putting it on the market—or upgrade to hardwood or vinyl. Making this change can add a great deal of value to your house and remove serious stumbling blocks on the path to getting your home sold.

Garage Door Openers

How well does your current garage door opener remote work? If it's having trouble connecting to the overhead unit or you've given up on it entirely, it's time to get something new. A garage door specialist can help you find the equipment you'll need to get your garage door functioning like new.

Always make sure to budget for the things you need to replace before you sell your home. Having all of these items replaced will not only make your house look nicer, but also help the rest of your home look even better to prospective buyers. With a little work, you can make minor changes that can transform the way your house looks.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

5 Tips for Selling a Summer Home Quickly

2019-06-22T11:00:00.000-04:00

By Seth Tilton

For many potential homebuyers, it's hard not to fantasize about owning a dreamy summer home this time of year. With that in mind, let's look at five tips for agents selling vacation homes:

Leverage technology, but be realistic. For many potential buyers, the ideal summer getaway is at least a plane or half-day car ride away. And while technology has made the remote buying process easier, statistics still tell us that most people are not willing to buy sight-unseen. Encourage your clients to engage with you on apps like Marco Polo and FaceTime, not as a replacement for seeing things in person, but as a time, money and travel saver for tying up loose ends after they've seen (and liked) the property for themselves.

Know what rents and what doesn't. Sure, investing in a second home of any sort is a big investment, but for buyers willing to supplement their personal stays with short-term rentals, knowing what "sells" in the rental market is key for generating cash. Time and time again, the best investments are properties that are close to the beach, outfitted with pools or pool access and allow pets.

Get real about risk management. While your client may have spent a lifetime dreaming about escaping to a remote country cabin, mitigating risk—and the hassle of dealing with unforeseen issues from a distance—should be a legitimate consideration for vacation homebuyers. While it may not seem quite as sexy on the surface, properties in complexes and neighborhoods with solid reserved funds are more protected against issues than their remote counterparts.

Help your clients factor in insurance upfront. For buyers new to tropical and waterfront real estate investments, forgetting to factor in necessary insurance costs, from flooding to hurricanes, is not uncommon. Educating clients on not only what necessary regional insurance looks like, such as how beach houses above a certain elevation don't require flood insurance, but also how and where it's baked into other monthly fees, builds trust and transparency.

Weigh out the pros and cons of property management options. For buyers who do plan to rent their vacation homes, working with a property management company can be hugely helpful for both visibility (i.e., marketing your property to potential renters) and day-to-day management. While the idea of "giving away" 15-20 percent of your rental income to a management company can be hard to stomach, so can acting as a landlord from afar.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com