Here is a replay of this weeks show. We talk about how to sell your home in today’s crisis. We also provide a real estate market update and mortgage update.
Watch our next episode live on Facebook at https://www.facebook.com/havilandgroup/
Matthew Haviland
How To Survive And Thrive Financially During A Crisis
Join us for our new live video talk show Thursday April 23rd at 4 PM.
In light of the current crisis, we want to help people survive and thrive financially during this time. Our new live video show will go over things like what bills to pay when you are limited on income. We’ll also talk about how to make money and look at employers that are hiring now. And we will highlight local people and businesses making a difference.
Here is a replay of the show and join us for our next episode at https://www.facebook.com/havilandgroup/
COVID 19 NJ Real Estate Update
Here's a quick look at how COVID 19 is effecting the real estate market
COVID 19 has made an impact on NJ in a big way. And in South Jersey we have not as many cases of COVID 19 however we’ve experienced a severe economic impact with many businesses forced to close. Our team has continued to work from home and remotely to keep our clients safe practicing social distancing and using personal protection equipment. Governor Murphy has allowed us to show properties on a 1 on 1 basis. Open houses are not allowed at this time.
All these changes have forced us to get creative. Our home seller clients can now sell their home without ever having anyone enter it. Our eLISTING Virtual Home Selling System makes this possible. For buyer we are working as remotely as possible through our eBUYER Virtual Home Buyer System. This allows us to tour homes live with our clients while they stay in the safety and comfort of their home. For open houses we’ve moved them online. eOPEN is our Online Open House System that allows for personal face to face video interaction. These open houses are also broadcast live to social media.
We are changing the was we do business to continue to help our real estate clients safely during this challenging time. I’m available for a free phone or video conference to talk about your needs. Call or text me at 609-338-3773. Best wishes, Matt
How will COVID 19 Affect Real Estate In South Jersey?
First of all we want to extend our sympathy to those who have been personally affected by the COVID 19 virus. We also would like to express our support to those who have lost jobs at this difficult time.
As of today Governor Murphy announced that all non essential businesses should close and work from home. At Keller Williams Realty we are honoring this request and have already made preparations to work remotely. Our staff and leadership team will continue to work remotely from home. Our affiliated title company is also prepared to work from home and handle closings remotely.
We anticipate our scheduled closings to close on time and are communicating with our clients on any potential delays.
For new seller clients we have initiated a Virtual Home Selling Service. We will take new listings including video tours without having to come to our client’s home and without any buyers having to come in their house. We have also implemented a virtual live open house strategy to further promote our listings on social media.
For our home buyer and seller clients we have implemented video conferencing for all meetings. We also have a Virtual Home Buying Service to help our buyer clients navigate through potential homes and neighborhoods without having to leave the comfort and safety of their home.
Is now a good time to buy or sell real estate in South Jersey? The answer is it depends on your circumstances. We are offering phone or video consultations to help you determine if this is the right time for you.
We are committed to help our clients with their real estate needs and add value to their lives. We pray that everyone would stay safe and well.
Richard, Matthew, Linda Haviland
P.S. Is there anything we can support you with? If we can help we will. If we can’t we’ll let you know or do our best to connect you to someone that can help.
Investing In Real Estate To Rent Through Airbnb At The Jersey Shore
Recently one of my listings in Atlantic City was bombarded by multiple showings and multiple cash offers. It ended up going under contract over the asking price. The interesting thing was that 3 out of the 4 offers we had were investors looking to purchase the property as an Airbnb rental.
The benefit of an Airbnb is that you can use the property while it’s not being rented. It helps offset the cost of buying a second home while getting income at the same time. At the Jersey shore there are some great potential areas for Airbnb. I’ll go over that in a minute. First lets look at 5 tips buying an Airbnb at the Jersey Shore.
1. Check Local Ordinances And Rules
Many municipalities and associations don’t allow short term rentals. This is really important to know up front before being a home. It may be best to avoid condos and home owners associations.
2. Don’t count on Airbnb to carry the house expenses.
Short term rentals like Airbnb and VRBO can fluctuate as seasonal changes and buyer demands change. A good rule to consider is will the property work as a long term rental. If so it’s a great investment regardless or what may happen with the short term rental market.
3. Check with your accountant
IRS tax code may not allow you to use the property for personal use and still get tax write offs. Check with your accountant before jumping in to any real estate investment.
4. Calculate the expenses of a short-term rental
Vacation and short term rental property are more expensive to operate and painting. They need frequent cleaning and repairs. Also all utilities need to be on and ready for a potential tenant. If you own a property out of the area you may need to hire a property manager or have a maintenance contract in place.
5. Work with an expert to pick the right location
Location is a key factor in buying any property and especially when choosing an Airbnb or short term rental. Some things to consider: Is the are safe? Is it close to restaurants, activities, transportation? Is it close to the beach or a short drive to the beach? It helps to work with an expert who knows the area. For example in Atlantic City there are some great location for short term rental properties and then a block or two away areas that are undesirable. You may also consider areas on the mainland like Galloway or Egg Harbor Township. You can get more house for your money to accommodate larger groups of people. Plus your still a short drive to the beach and attractions.
Contact us for help with your next purchase or sale.
Atlantic County, NJ Real Estate Market Update 2020
Here is a look at the Atlantic County real estate market. We will break out single family homes, condos and take a look at adult communities.
For single family homes, New listing were up in December, closed sales were up and median sales price was up by 22.6% to $225,000. Inventory was down by 4.7%.
For condos and townhomes new listings were up 40% and median sales price was up 31.8%. Inventory went up 10%. Recent changes allowing FHA spot approvals should open up more financing options for condo buyers and also help contribute to increased condo prices.
For adult communities new listings rose by 42.9%. Days on market dropped by 60% to just 33 days on market. Median sales price decreased by 21% for the month. In general the adult community home prices do mirror the rest of the market so a few lower priced homes sales may have led to the drop in prices for the month.
If you’re thinking about buying or selling a home please contact us for a complimentary Pin Point Price Analysis and Room By Room Review.
Congratulations Circle Of Excellence Award winners! Matthew & Richard Haviland
Our award winning team is grateful to have the opportunity to help over 72 families with their real estate needs in 2019. Matthew Haviland earned the silver Circle Of Excellence Award and Richard Haviland earned the bronze award from the New Jersey Association Of Realtors. Combined team sales volume was over $12.5 Million dollars including our other team partner James Schroeder.
Our business is based on referrals. We would like to take time to thank our friends, family, neighbors, and past clients for introducing us to the people they care about. Your endorsements are the lifeblood of our business. Thank you! Here’s to a wonderful 2020. And remember we always have time to help a few new clients.
Incredible Multi Family Ocean City Property For Sale
816 Wesley. 6 bedroom, 3.5 bathrooms and 5 rental units.
Here is a video tour of 816 Wesley Ave, In Ocean City NJ. For details click here.
5 Tips To Prepare Your Home To Be Sold
Don't sell your house before doing these 5 things first!
If you’re thinking about selling your home in the Spring or Summer now is the time to start getting the home ready. If you want to sell your home quickly and for top dollar do these 5 things as you prepare your home.
Create a great first impression.
Winter may not be the best time to prepare landscaping however one key area you can work on any time of the year is the front entry way to your home. Look at the door does it need to be painted? How is the trim work? Make sure this are is clean and free of any cobwebs or dirt. Remember that the buyer will often be waiting outside for a few minutes before entering the home.
Declutter
This is a simple one but not easy. Picture your home as a model home. You want to make the rooms look open and inviting. Sell or pack excess furniture. Pack knickknacks or decor that is excessive.
Clear The Kitchen Countertops
Kitchen spaces can seem small when they are covered with appliances, utensils and pots and pans. Remove everything off the countertops to make your kitchen and counter space appear bigger.
Make sure the home is odor free
Smells can make or break a house. Odors can easily be picked up on as soon as you enter a house. Make sure your home is odor free. Keep it clean. If you’re a smoker, smoke outside. Air out the house if you need to or seek professional help if you have a severe odor.
Fix things that are broken
If you know things need to be done take care of them. Fix little things like burned out light bulbs, leaky faucets, or electrical switches that don’t work. If you really want to be proactive you can do a pre-home inspection and find out exactly what issues would come up on an inspection report. This gives you time to fix or evaluate the issues before putting the house on the market. We have home inspectors we can recommend if you need help with this.
If you’d like more ideas on getting your home ready contact and request our free Room By Room Review booklet. We can email you a copy of this booklet or come out and personally give you our recommendations on what to do and what not to do.