By Andrew Zastko
Spring has sprung in Central Jersey real estate. Springtime is traditionally an active time in the housing market, as many people try to time their move with the end of the school year or the end of a lease. With a variety of factors driving this market, we are seeing a robust spring market for real estate and great potential for those planning a move.
Buyer activity has been strong. First-time buyers and move-up buyers want to take advantage of the continued low interest rates. They realize that average home prices in Central Jersey are higher than last year. They also know that mortgage rates have risen slightly from last year’s rates, but affordability still remains strong because interest rates are still historically very low. Both interest rates and home prices are projected to rise into 2016, which means that the monthly payment for the exact same home is higher than last year and will be higher the next — same home, same location, higher cost. That is why the savvy home buyer is out looking for a home now, attempting to beat out the competition and the demand.
Part of what is also driving this market is the low supply of available homes for buyers to consider. However, those who did choose to move forward and market their homes well to connect with these buyers have found themselves in situations with multiple offers and favorable terms.
As we move into this warmer season, there will be more homes on the market to meet this pent-up demand of home buyers. For anyone planning a move, the opportunity is there. Yet, how can people take advantage of this shift in the market? How do they know if it truly is a wise decision?
As in any major decision, it is essential to have a trusted adviser to help you, an expert familiar with the real estate process and dedicated to serving your interest. At Gloria Zastko, Realtors, this means guiding a client through the entire real estate process, interpreting the market, and giving buyers and sellers the necessary information to make sound decisions. For example, say there’s a home listed for $250,000. How would you know what that home is truly worth and how to pursue it (if at all) unless you had someone who truly knows the market to show you the truth? In the same way that we seek out professionals in the medical field to give us health advice, or CPAs to give us tax advice, every home buyer and seller needs a Realtor on their side for sound real estate advice. With a trustworthy real estate professional at your side, no matter what you decide, you will have confidence to know you are making the best move for 2016.
Andrew Zastko is the broker/owner of Gloira Zastko, Realtors, located at 1582 130 north, North Brunswick. For more information, call 732-297-0600 or visit www.zastko.com.
