Capital Gains Taxes?

Capital Gains Taxes?

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Capital Gains Taxes?… How to Sell a Home Without Paying Capital Gains Tax: What Home Sellers Need to Know

If you’re planning to sell your home, you may be wondering how to avoid capital gains taxes. Understanding the rules and available exemptions can save you thousands of dollars and help you keep more profit in your pocket. While taxes can be complex, there are clear ways you can reduce or eliminate your capital gains liability when selling a home. In this blog, we’ll break it all down in plain language, focusing on what homeowners in Clifton, NJ, need to know.

Before we begin, a quick disclaimer: This blog is for informational purposes only and does not constitute tax, legal, or financial advice. Always consult a tax professional, CPA, or attorney for guidance specific to your situation.

What Are Capital Gains Taxes?

When you sell a home, the IRS considers the profit you make from the sale as a “capital gain.” A capital gain is simply the difference between the amount you paid for the home (your cost basis) and the amount you sold it for (your sale price).

For example:

  • If you bought your home for $200,000 and sold it for $400,000, your capital gain is $200,000.

Capital gains are taxable, but there are exceptions and exclusions specifically designed to help homeowners reduce or eliminate these taxes.

The Home Sale Exclusion Rule

The good news for homeowners is that the IRS offers a generous Home Sale Exclusion, also known as the Section 121 Exclusion. This rule allows you to exclude up to:

  • $250,000 of capital gains if you are a single filer.
  • $500,000 of capital gains if you are married and filing jointly.

For many homeowners, this means you may owe no taxes at all on the sale of your primary residence. However, you must meet certain criteria to qualify for this exclusion.

How to Qualify for the Home Sale Exclusion

To claim the exclusion, you must meet two key requirements:

  1. Ownership Test: You must have owned the home for at least two years during the five years leading up to the sale.
  2. Use Test: You must have used the home as your primary residence for at least two of the last five years.

If you meet both the ownership and use tests, you can take full advantage of the exclusion limits.

Example: Let’s say you bought your Clifton home for $300,000 and sold it for $600,000. If you are a married couple filing jointly, you can exclude up to $500,000 of the gain. That means you won’t owe any capital gains taxes because the $300,000 gain is fully excluded.

Partial Exclusion for Special Circumstances

If you don’t meet the full ownership and use tests, you may still qualify for a partial exclusion of capital gains. Special circumstances include:

  • A job relocation (moving more than 50 miles away).
  • Health-related reasons.
  • Unforeseen events, such as divorce or natural disasters.

Even if you’ve only lived in your home for a short time, it’s worth exploring whether you can claim a partial exclusion.

Example: You lived in your home for just 18 months before accepting a job relocation. While you don’t meet the two-year requirement, you may still qualify for a prorated exclusion based on the time you lived in the home.

How Improvements Impact Your Capital Gains

Did you know that home improvements can reduce your taxable gain? The IRS allows you to add the cost of qualifying capital improvements to your home’s cost basis. This effectively reduces the amount of your capital gain.

What Counts as a Capital Improvement?

Capital improvements include any upgrades that:

  • Increase the value of your home.
  • Extend the useful life of your home.
  • Adapt your home for new uses.

Some examples include:

  • Adding a new roof, deck, or swimming pool.
  • Installing a new HVAC system or windows.
  • Renovating the kitchen or bathrooms.
  • Adding a home office or converting an attic or basement into living space.

Example: You purchased your home for $250,000 and spent $50,000 upgrading the kitchen and adding a deck. When you sell the home for $400,000, your cost basis is now $300,000 ($250,000 purchase price + $50,000 improvements). This reduces your capital gain to $100,000 instead of $150,000.

Keep Records of Improvements

To take advantage of this rule, keep detailed records of all improvements, including receipts, invoices, and permits. This documentation will be invaluable when calculating your cost basis and minimizing your taxable gain.

Pro Tip: If you’re planning to sell your home in the next few years, consider making strategic upgrades that not only boost your home’s value but also reduce your taxable gain.

Avoiding Capital Gains Taxes When Selling an Inherited Home

If you’ve inherited a home, the capital gains calculation is different. Instead of using the original purchase price as the cost basis, the IRS allows you to use the home’s fair market value (FMV) at the time of inheritance.

This is called a stepped-up basis, and it significantly reduces your capital gain.

Example: If your parents bought a Clifton home for $150,000 years ago and you inherit it when it’s worth $500,000, your cost basis is now $500,000. If you sell the home for $510,000, your capital gain is only $10,000.

This rule is particularly helpful for heirs who plan to sell an inherited property quickly.

Special Note for Multiple Heirs

If multiple people inherit a home (e.g., siblings), the stepped-up basis applies proportionally to each heir’s share. For example, if you inherit half of a $500,000 home, your stepped-up basis is $250,000.

Strategies for Reducing Capital Gains Taxes

If you anticipate a significant capital gain on your home sale, here are additional strategies to minimize your tax liability:

  1. Timing Your Sale: If you’re close to meeting the two-year ownership and use tests, consider delaying the sale to qualify for the full exclusion.
  2. Renting Before Selling: If you’ve used the home as a rental, you may still qualify for the exclusion if you meet the ownership and use tests.
  3. Offset Gains with Losses: You can offset capital gains with losses from other investments (known as tax-loss harvesting).

Consult a Tax Professional

While there are clear strategies for avoiding or minimizing capital gains taxes, every homeowner’s situation is unique. Tax laws are complex and constantly evolving, so it’s important to work with a qualified tax professional or CPA. They can help you:

  • Calculate your cost basis accurately.
  • Determine your eligibility for exclusions.
  • Plan your sale to minimize taxes.

At Sanchez Realty Group, we specialize in helping homeowners navigate the selling process in Clifton, NJ, and surrounding areas. While we can’t provide tax advice, we can connect you with trusted local professionals who can.

Final Thoughts

Selling a home without paying capital gains taxes is possible if you take advantage of the IRS rules, exclusions, and deductions available to you. By understanding the Home Sale Exclusion, tracking your capital improvements, and working with qualified professionals, you can keep more of your hard-earned profits.

If you’re thinking about selling your home in Clifton or Fairlawn, NJ, the team at Sanchez Realty Group is here to help. We’ll guide you through every step of the process and ensure you have the resources you need to make informed decisions.

Ready to Sell Your Home?

Contact Roberto A. Sanchez and the team at Sanchez Realty Group today. Let us help you make your next move with confidence and clarity!

 

5 Home Selling Tips

5 Home Selling Tips

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5 Home Selling Tips

5 Home Selling Tips For A Successful Sale

Selling your home can feel overwhelming, but with the right strategies and preparation, you can ensure it stands out in the market. At Sanchez Realty Group, and Roberto A. Sanchez, our mission is to help homeowners like you get the best results, I strongly believe if you go through these 5 Home Selling Tips you can achieve a better home presentation to appealing buyers.

Let’s dive into these 5 Home Selling Tips and practical steps you can take to prepare your home for a successful sale.

 Why Presentation Matters

In today’s competitive real estate market, first impressions matter. Buyers are not only evaluating the physical aspects of your property but also the emotional connection they feel when they walk in. The best way to compete with other listings in your area is to present your home in its absolute best condition and these 5 Home Selling Tips can help you accomplish these with minimum inconveniences.

This doesn’t necessarily mean full-scale renovation but focusing on key areas can make a significant difference.

Homes that are well-presented often sell faster and for a higher price. Buyers form opinions within minutes of stepping onto a property. A clean, welcoming space helps them envision themselves living there, which can drive up perceived value and generate strong offers. This is where attention to detail becomes critical.

 

1. What’s the Value of Pre-Listing Inspections

Conducting a pre-listing inspection is one of the smartest moves you can make as a seller. This can include:

  • Standard home inspections to identify structural or mechanical issues.
  • Termite inspections to ensure there are no pest-related damages.
  • Environmental inspections to uncover potential concerns like mold or radon.

Addressing these issues before listing can avoid surprises that might derail a sale later. It also shows buyers that you’re proactive and transparent, which builds trust and confidence.

Another benefit of pre-listing inspections is the negotiation power they provide. When potential buyers see that issues have already been resolved, they’re less likely to request costly repairs or concessions during the transaction. This can streamline the selling process, saving you time, and money, and keeping things on track with no further inconveniences

 
2. Preparation is Key and Affordable Repairs That Make a Big Impact

Preparing your home for sale doesn’t have to break the bank. Focus on repairs and upgrades that offer a high return on investment. Here are some tips:

  • Fix dents, scratches, and minor damage. Even small flaws can make your home look neglected.
  • Refinish walls and ceilings. A fresh coat of paint in neutral colors can do wonders for brightening up your space.
  • Update fixtures and hardware. Replacing outdated light fixtures, cabinet handles, and faucets can modernize your home instantly.
  • Enhance curb appeal. Sprucing up your exterior and landscaping creates a great first impression. Trim hedges, plant flowers, and ensure walkways are clear and inviting.

Curb appeal is often referred to as the “silent salesman” of your home. A welcoming exterior entices buyers to come inside from the moment they pull up to the property.                                    Simple enhancements such as power washing your driveway, repainting your front door, or adding a new welcome mat can make all the difference.

Additionally, consider staging your home. Professionally staged homes often sell quicker and for higher prices because they highlight a property’s strengths while minimizing any weaknesses. If full staging isn’t in your budget, perhaps the main areas or focus on decluttering, depersonalizing, and rearranging furniture to maximize space.

 
3. The Power of Professional Assistance

You don’t have to handle everything alone. At the Sanchez Realty Group, we provide a pre-inspection checklist tailored to your home. This comprehensive guide helps you prioritize tasks and focus on what matters most. Additionally, we have a network of trusted contractors and handymen who can assist with:

  • Minor repairs and touch-ups.
  • Professional painting and finishing.
  • Landscaping and exterior improvements.
  • Cleaning and decluttering (at our expense).

Our team ensures that these upgrades are handled efficiently and professionally, giving you peace of mind. This proactive approach helps your home shine in a competitive market and appeals to discerning buyers.

 
4. Promoting and Marketing Your Home Effectively

Once your home is ready to list, it’s time to focus on marketing. High-quality HDR photographs, aerial and video of your home, well-written, detailed descriptions, launch preparation with offline and online exposure, and strategic pricing are essential for attracting the right buyers. At Sanchez Realty Group, we use advanced marketing techniques, including:

  • Professional photography and videography to showcase your home’s best benefits and features.
  • Online listings on major real estate platforms to maximize visibility.
  • Social media marketing to reach a broader audience.

We also host MEGA open houses and private showings after attaining buyers’ pre-approval to ensure your home gets the exposure it deserves. Our goal is to present your property in a way that resonates with SERIOUS buyers and motivates them to make strong offers.

 
5. Know Your Home’s Value

Understanding your home’s market value is essential for setting the right price and attracting serious buyers. If you’re curious about your home’s worth, we offer a free, no-obligation Price Analysis. This detailed report provides insights into:

  • Comparable sales in your area.
  • Current market trends.
  • Strategic pricing to maximize your profit.

Accurate pricing is crucial, and its more than just looking at past sales and comparables, it’s looking at the specifics of your neighborhood, location, type of homes (amenities and benefits), attention to details (type of materials, quality of construction or renovations, etc) that the discerning buyers will appreciate and be willing to pay more for.

Overpricing can cause your home to sit on the market for too long and become stale deterring potential buyers from looking at it,  while underpricing might leave money on the table. With our expertise, you can rest assured that your home will be priced competitively to attract buyers while maximizing your return and negotiating the best terms and conditions.

 

 

Ready to Sell? Let’s Get Started!

Selling your home is a big decision, and we’re here to make it as seamless as possible. Whether you’re ready to list or just exploring your options, reach out to us for expert advice and personalized support.

Contact Sanchez Realty Group at United Real Estate, led by Roberto A. Sanchez, today:
  • Call or text: 973-216-1945
  • Email: rsanchez@robsrealtor.com
  • Visit: www.robsrealtor.com
We’re committed to helping you achieve your real estate goals. Thank you for trusting us and for your referrals. We look forward to guiding you through every step of the home-selling process.

 

Ready to Sell Your Home?

Don’t leave your biggest investment to chance.

Contact Sanchez Realty Group today for a personalized consultation and let’s work together to achieve your real estate goals and exceed your expectations!

Call/text or email me TODAY at 973-216-1945, rsanchez@robsrealtor.com

Contact Us For A Consultation

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Your Complete Guide to Selling a Home in Clifton, NJ

Your Complete Guide to Selling a Home in Clifton, NJ

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Your Complete Guide to Selling a Home in Clifton, NJ

Your Complete Guide to Selling a Home in Clifton, NJ

Are you considering selling your home in Clifton, NJ, but aren’t sure where to start?

This comprehensive and complete guide to selling a home in Clifton, Nj is designed to help you navigate the selling process with ease and confidence when you decide to sell your home. Whether you’re considering to sell in the near future,  preparing your property for the market or looking for expert advice . The Sanchez Realty Group at United Real Estate, and Roberto A. Sanchez, is the best professional to guide you every step of the your real estate journey.

Selling a home is a significant decision, both emotionally and financially, and partnering with the best real estate agent in Clifton can make all the difference. As Clifton’s trusted Realtor, Roberto A. Sanchez has a proven track record of helping homeowners achieve their goals, helping homeowners prepare, market, negotiate and sell their homes for over 3 decades.

Why Sell Your Home in Clifton, NJ?

Clifton offers a unique combination of urban convenience and suburban charm, making it a sought-after location for homebuyers. Its nearby major highways, public transportation, shopping, entertainment and proximity to New York City attracts commuters, while its excellent schools, parks, and diverse neighborhoods appeal to families and professionals alike.

High Demand in the Clifton Real Estate Market

The Clifton real estate market is currently experiencing high demand, with buyers eager to secure properties in this desirable area with its many neighborhoods and its wide range of homes and prices. Whether you own a single-family home, multi-family , a townhouse, or a condominium, you can benefit from the competitive environment and achieve a favorable sale.

Timing Is Everything

Market trends show that selling a home in Clifton during certain times of the year can yield better results. Spring and summer often see increased buyer activity specially in the North East due to the so called “Spring Market”, but even in other seasons, a well-prepared home can stand out. Roberto A. Sanchez will help you assess the best timing based on your goals and the current market conditions, in fact, during the holidays and winter months when there’s less traffic of buyers, a well presented home will attract more serious buyers willing to go above and beyond to get the home of their choice.

 

Step-by-Step Guide to Selling Your Home

Step 1: Partner with a Local Expert

The first and most crucial step in selling your home is finding the right Realtor. A knowledgeable professional like Roberto A. Sanchez understands the nuances of the Clifton real estate market and will work tirelessly to position your property for success.

Local expertise matters. Roberto’s in-depth understanding of Clifton’s neighborhoods, buyer preferences, and pricing trends ensures your home gets the attention it deserves.

Step 2: Understand Market Trends

Before listing your home, it’s important to understand what buyers in Clifton are looking for. Here are some trends to keep in mind:

  • Important feature and benefits: Homes with modern kitchens, updated bathrooms, and outdoor spaces tend to attract more interest.
  • Neighborhood Appeal: Proximity to schools, parks, and public transportation adds value to your property.
  • Competitive Pricing: A well-priced home generates more interest and can lead to multiple offers.
  • Preparation and presentation is key to place your home above similar competing homes and draw more and better offers.

Pro Tip: Request a free market analysis from Sanchez Realty Group to understand how your home compares to others in the area.

Step 3: Prepare Your Home for Sale

By utilizing this A well-presented home can make a lasting impression on potential buyers. Follow these tips to get your home market-ready:

Declutter and Deep Clean

Remove personal items and excess clutter to create a clean, inviting space. A tidy home allows buyers to envision themselves living there.

Make Repairs

Address minor repairs, such as leaky faucets, chipped paint, or squeaky doors. These small fixes can prevent potential buyers from focusing on flaws.

Stage Your Home

Professional staging highlights your home’s best features and can increase its perceived value. If staging isn’t an option, arrange furniture to maximize space and light.

Boost Curb Appeal

First impressions matter. Mow the lawn, trim bushes, and add fresh flowers or a new welcome mat to make your home inviting from the outside.

Step 4: Price Your Home Strategically

Determining the right price is one of the most critical aspects of selling your home. Overpricing can lead to a stagnant listing, while underpricing may result in lost equity.

Factors Influencing Price:
  • Recent sales of similar homes in Clifton
  • Current market conditions
  • Unique features and upgrades in your home

Using advanced tools and local insights, Roberto A. Sanchez will provide a detailed Comparative Market Analysis (CMA) to help you set a competitive price.

Step 5: Market Your Home Effectively

Marketing is key to attracting the right buyers. Sanchez Realty Group uses a combination of traditional and modern marketing techniques to ensure maximum exposure:

Professional Photography and Virtual Tours

High-quality photos and virtual tours are essential in today’s digital market. They give buyers a clear and appealing view of your home before scheduling a visit.

Online Listings and Social Media

Your home will be featured on top real estate websites and social media platforms, reaching buyers locally and beyond.

Targeted Advertising

Roberto leverages data-driven strategies to target buyers actively searching for homes in Clifton and Fairlawn, NJ.

Step 6: Navigate Offers and Negotiations

Receiving offers is exciting, but understanding the details is essential. Roberto will:

  • Explain the terms and conditions of each offer
  • Negotiate on your behalf to secure the best price and terms
  • Guide you through contingencies, inspections, and appraisal requirements
Step 7: Close the Sale

The closing process involves several steps, including:

  • Finalizing paperwork
  • Ensuring all inspections and appraisals are completed
  • Working with attorneys and title companies

Roberto Sanchez is your best agent choice and his expertise ensures a smooth and stress-free experience from start to finish.

 
 
Common Questions About Selling a Home in Clifton

How Long Does It Take to Sell a Home in Clifton?

The timeline depends on factors like market conditions, pricing, and property preparation. On average, homes in Clifton sell within 30 to 60 days.

What Costs Are Involved in Selling?

Common costs include:

  • Real estate agent commissions
  • Repairs and staging expenses
  • Closing costs (such as attorney fees and transfer taxes)
  • Roberto Sanchez will provide you a net sheet with estimated costs and
  • An give you potential costs and tentative expenses upfront.

Why Choose Sanchez Realty Group?

With decades of experience, Roberto A. Sanchez and the Sanchez Realty Group have built a reputation for excellence. Our commitment to client satisfaction, innovative marketing strategies, and local expertise make us the top choice for selling your home in Clifton, Roberto’s last 10 listing based sales in the last couple of months as of this writing are 6.8% higher than competing agents, that means you get to put more of your hard earned equity in your pocket, in addition on buyers based sales Roberto is more compelling due to higher NEGOTIATION skills and training. He ALWAYS have his client’s best interest in front and strived to get the best results and it shows. We hope this complete guide to selling your home in Clifton can give you important information if your looking to maximize your home sale.

Ready to Sell Your Home in Clifton?

Don’t leave your biggest investment to chance.

Contact Sanchez Realty Group today for a personalized consultation and let’s work together to achieve your real estate goals and exceed your expectations!

Call/text or email me TODAY 973-216-1945, rsanchez@robsrealtor.com

Contact Us For A Consultation

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Co-Signing Gone Wrong

Co-Signing Gone Wrong

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Co-Signing Gone Wrong

Co-signing Gone Wrong

 

We did a short webinar with Marlon (The Kreditmogul), Marlon, who is very knowledgeable on credit restoration and have helped me and other people to restore their credit score to the levels that are acceptable and allow creditors extend better terms when it comes to personal purchases (car loan, mortgages to purchase a home, etc) and Co-signing gone wrong for would be home buyers.

 

 
 
Having credit allows people not just get better with their financials because credit is just about everything nowadays, right? We need to have credit so that we can purchase stuff, we need the credit, even for other things like applying and being considered for job opportunities and obtain positions where the integrity, character and responsibility of the person is important.
There are 3 parts of this webinar that we hope to help people with understanding the ramifications of each of them and how it affects their credit but most importantly their long term financial health and how to keep their credit file in good standing, this one is about a Co-sigining gone wrong, listen up. 
 
 
 

Why You Should Think Before You Co-Sign

 

The first is about being a CO-SIGNER on a loan and how doing Co-signing can go wrong! I know it sounds great. You know, that we have family and close friends of ours that might want us to help them, but it can also be a risk because the reason why I say that is that if something happens, we become a co-signer for our primary account. Yes, you are also held just as 100%, follow me 100% responsible as the primary, right. So whatever reflects on that primary reflects also on the secondary, which is the co-signer.
 
So the same liabilities are shared under the same roof guys. So be careful with co-signer. It could be as, as good tempting, but it could also be a trap for anyone who does not understand the ramification, just don’t do it and realize the consequences that can come behind that. I always share with people what I went through myself, but I always want to help people understand you can do it on your own and could be where you need to be as far as, getting qualified for an approval for auto loan, eventually a mortgage or personal debt of that nature that fall in that category without even having a cosigner, it’s all about just re-building your credit and getting yourself established and then going out there and doing it the right way. Okay. So that’s what I would share about cosigner. Be careful.

 

What Other Have Found About Being a Co-Signer on a Car Note, Consumer Debt, Mortgage, Etc

Being a Cosigners is a very delicate thing to do, especially when you cosign for people that are not directly in your circle, like a close family member or someone like that, you must be very careful, and you must know the person. I find a lot of people in my real estate practice that they want to purchase a home, but they were a co-signer for a friend and what happens is that the friend wasn’t as responsible the person thought he was, and then he goes out or she goes out and sign up for a vehicle for this person, and then all help break loose. I mean, the person has an accident, get sued, they take the car away and as would find out, the debt they don’t take away, the debt still got to get pay some kind of way and if you’re the cosigner, then now you are responsible for all these liabilities.
Lots of people have come to find out the hard way that being a cosigner is not something that you, you should think or take lightly. I mean, it’s something that maybe you can do for your daughter or son, your mom or, or somebody very close that you know is not going to get you in trouble and it’s going to be able to pay their debt and even when you do it like that, you have, you have to know that there’s certainly a degree or level of responsibility on your part, because if something happens to that person and you want to keep your credit profile in good shape, then you’re going to probably have to take over that debt eventually, Find out how you can improve your credit and be able to purchase a home hopefully without the need of a co-signer.
 
 
Call/text or email me for a FREE, Consult: Roberto A. Sanchez 973-216-1945 Rsanchez@robsrealtor.com

 

Call/Text or Email Us for an Accurate, No-Guesstimates Value of your Property, How to Buy Property, Your First or Move up/down or Invest in Real Estate

Sanchez Realty Group at United RE: 973-216-1945 or Email: rsanchez@robsrealtor.com.

Homes For Sale in Clifton by Price Range

$100,000 – $200,000

$500,000 – $600,000

$200,000 – $300,000

$600,000 – $700,000

$300,000 – $400,000

$700,000 – $800,000

$400,000 – $500,000

$800,000+

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Small Income Property Analysis

Small Income Property Analysis

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Small Income Property Analysis, Investment analysis methods.

Small Income Property Analysis and Investment Property Analysis Methods.

 

As a real estate professional, we also assist home buyers and investors interested in purchasing multi family properties for the purpose of creating passive income through rentals and create equity over time or through different means this Small Income Property Analysis information video could assist you with the basics to make a better informed purchase.

There are several approaches and analysis methods investors utilize to make sure they’re making a sound decision and the property meets their investments objectives whether they’re smaller investments, 2-4 units or larger properties.

I’m Roberto Sanchez with United RE and the Sanchez Realty Group, I’ll explain some of the most common methods use to analyze a property in frankly a few moments.

For the Sake of this illustration will use a 2 Units property with a purchase price of $300,000 and Rental income of $3,000 a Month.

The first analysis method commonly used is the:

 

1st  Net Operating Income:

Gross Rental Income – Operating Expenses

Ex:  $3,000 x 12 months  – $11,000 = $36,000 – 11,000 or $27,000 NOI  (Before Mortgage)

 

2nd Cap Rate:

Net Operating  Income / Total Purchase Price

Ex:  $27,000 / $300,000 = 9%

 

3rd 1st One Percent Rule:

Monhly Gross Rent >= 1 % of Total Purchase Price

Ex:  $3,000 >= 1% of $300,000 = $3,000

 

4th Net Income After Mortgage (NIAM)

NOI – Mortgage or Finance costs

$27,000 – $12,900 (Principal + Interest) = $14,100

 

 

4th Cash on Cash Return (CoCr or COC):

Net Income After Mortgage / Down Payment

Ex: $14,100 / $75000 = 18% COC

 

Other Methods are:

The Gross Rent Multiplier:

Total Purchase Price / Yearly Gross Rent

Ex:  $300,000 / $36,000 = 8.3

The 50% Rule:

It estimates the NOI at 50% of Gross rents

Ex: $36,000 yearly GR x 50% = $18,000.

 

I look forward to assist you with your investment purchasing needs, having a real estate professional and season investor might be your best asset in achieving your wealth building plans and remember you have to have a plan to succeed or plan to fail but I’d add a plan without execution is a failed plan.

Reach out by phone or email: Roberto A. Sanchez 973-216-194 Email: rsanchez@robsrealtor.com

 

 

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Market Report for August 2021 vs 2020

Market Report for August 2021 vs 2020

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Market Report for August 2021 vs 2020

Market Report for August 2021 vs 2020

August 2021 vs 2020

If your home is in a different location and you’d like your home’s accurate value for your town/neighborhood, call/text or email us.

                          Clifton Real Estate – August 2021

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 80 Homes

Media SOLD Price: $ 440,000 Median LIST Price: $425,000

Days on Market: 15

Sale to List Ratio: 103.4

Clifton Real Estate – August 2020

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 79 Homes

Median SOLD Price: $ 390,000 – Median LIST Price: $ 394,500

Days on Market: 19

Sale to List Ratio: 100.2

12% Price Increase

Market Highlights According to NAR (Nat’l Assoc of Realtors)

** The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can’t resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25% principal and interest reduction.

• Single Family Closed Sales were up 16.1 percent to 1,481.

• Townhouse-Condo Closed Sales were up 75.7 percent to 557.

• Adult Communities Closed Sales were up 26.7 percent to 19.

• Single Family Median Sales Price increased 11.7 percent to $567,500.

• Townhouse-Condo Median Sales Price increased 12.7 percent to $390,000.

• Adult Communities Median Sales Price increased 8.8 percent to $420,000.

The National Association of REALTORS® reported inventory of homes for sale nationwide rose slightly in June as more sellers list their homes, hoping to take advantage of record-high sales prices across the country. Even with renewed home seller interest, inventory overall remains 18.8% lower than a year ago, according to NAR.

This is Still a Great Time to Sell and the Northeast is Still the Strongest Region in the Country.

Call/Text or Email Us for an Accurate, No-Guesstimates Value of your Property:

Sanchez Realty Group at United RE: 973-216-1945 or Email Us: rsanchez@robsrealtor.com.

 

Homes For Sale in Clifton by Price Range

$100,000 – $200,000

$500,000 – $600,000

$200,000 – $300,000

$600,000 – $700,000

$300,000 – $400,000

$700,000 – $800,000

$400,000 – $500,000

$800,000+

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Clifton Market Report – July 2021

Clifton Market Report – July 2021

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Clifton Market Report – July 2021

Clifton Market Report July 2021

 

(Clifton Market Report – July 2021 According to the GSMLS in Clifton)

f your home is in a different location and you’d like your home’s accurate value for your town/neighborhood, call/text or email us.

Clifton RE July 2021

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 63 Homes

Media SOLD Price: $ 440,000 Median LIST Price: $425,000

Days on Market: 19

Sale to List Ratio: 102.8

Clifton RE June 2021

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 61 Homes

Median SOLD Price: $ 450,000 Median LIST Price: $ 414,500

Days on Market: 20

Sale to List Ratio: 102.9

Us: rsanchez@robsrealtor.com.

Market Highlights According to NAR (Nat’l Assoc of Realtors)

** New Listings Continue to Increase Over May and June- A Welcome Sign

** Early Signs of Moderation Appear in Lightning-Fast Market

** Listing Price Growth Continues to Moderate

** Buyers Moderation (Fatigue) is in Play due to Fast Price Appreciation, Low Inventory and Record Days on the Market, Start-up Buyers unable to Compete.

This is Still a Great Time to Sell and the Northeast is Still the Strongest Region in the Country.

Call/Text or Email Us for an Accurate, No-Guesstimates Value of your Property:

Sanchez Realty Group at United RE: 973-216-1945 or Email: rsanchez@robsrealtor.com.

Homes For Sale in Clifton by Price Range

$100,000 – $200,000

$500,000 – $600,000

$200,000 – $300,000

$600,000 – $700,000

$300,000 – $400,000

$700,000 – $800,000

$400,000 – $500,000

$800,000+

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Clifton RE Market – May 2021

Clifton RE Market – May 2021

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Clifton RE Market – May 2021 vs May 2020

 

Clifton RE – May 2021

(According to the GSMLS in Clifton)

Clifton RE May 2021

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 59 Homes

Median SOLD Price: $ 420,000

Days on Market: 14

Sale to List Ratio: 104.2

VS

Clifton RE May 2020

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 37 Homes

Media SOLD Price: $ 380,000

Days on Market: 19

Sale to List Ratio: 100.6

INCREASE: 10%

May 2021 continues to show strength in the Real Estate market, although this report is based on the Clifton RE, most towns in North New Jersey are experiencing the same surge in prices and it does not look like the lack in available homes will ease up the buyers demand and desire to land a property under contract creating multiple offer situations and therefore moving prices higher.

  • REMEMBER: RE is about the 3 P’s; Presentation, Promotion(Exposure) and Price.

Call us for a FREE, NO OBLIGATION consultation.

Roberto A. Sanchez

973-216-1945

 

May STATS according to New Jersey Multiple Listing Service:

As the weather warms and pandemic restrictions ease across much of the
country, the U.S. housing market shows little sign of cooling. Robust buyer
demand, fueled by low mortgage rates, continues to outpace supply, which
remains near historic lows. Nationwide, inventory remains much lower than it was
at this time last year, and sales prices are surging as a result.

• Single Family Closed Sales were up 39.2 percent to 1,105.
          • Townhouse-Condo Closed Sales were up 125.1 percent to 493.
         • Adult Communities Closed Sales were up 180.0 percent to 14.
                      • Single Family Median Sales Price increased 16.5 percent to $555,000.
                              • Townhouse-Condo Median Sales Price increased 2.9 percent to $360,000.
                                • Adult Communities Median Sales Price decreased 7.9 percent to $327,000.

With such limited supply of existing homes to purchase, all eyes are on home
builders to provide a much-needed boost of inventory to the market to help meet
buyer demand. However, increasing material and labor costs, along with supply
chain challenges, have contributed to significantly higher construction costs, with
builders passing these costs on to homebuyers. And while the warmer
temperatures, rising sales prices, and the reopening of the economy may draw
more sellers to the market, historically low levels of homes for sale are likely to
continue for some time.

Homes For Sale in Clifton by Price Range

$100,000 – $200,000

$500,000 – $600,000

$200,000 – $300,000

$600,000 – $700,000

$300,000 – $400,000

$700,000 – $800,000

$400,000 – $500,000

$800,000+

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Clifton RE 1st Qtr 2021 vs 2020

Clifton RE 1st Qtr 2021 vs 2020

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1st Quarter 2021 vs 2020

The 1st Quarter of 2021 is Experiencing a Surge in the Real Estate Market Like Never Before.

Clifton RE 1st Qtr 2021 vs 2020

1st Quarter of 2021 median sales price for Clifton was $ 400,000 with 188 homes SOLD and 101 Sale to List Price Ratio and 23 days on the market.

Compared to 1st Quarter of 2020 with a median sales price of also $345,000, with 108 homes SOLD 99.8 Sale to List Price Ratio and 39 days on the market.

1st Quarter of 2021: Experienced 16% Increase Over Same Period of 2020

That’s Great NEWS, Whether You’re Thinking to Sell or Someone You Know Who May, Please Help Us Get a Family Their New HOME!

WHAT TO EXPECT IN 2021!?

Interest rates ticked up a bit higher but still at historical lows and lack of homes available for sale is creating multiple offer situations and therefore price increases throughout the country.

The Northern New Jersey market as well is experiencing a strong buyer traffic and homes are going under contract in record time (usually (3-10 days) with multiple offers and in some cases way over asking.

Several points to consider:

  • In Clifton as well as other towns and neighborhoods are experiencing a shortage of homes for the anxious and desirous buyers, it’s a market still good for move-up buyers and those homeowners usually enjoy substantial gains in appreciation in the last few years which help to entice sellers when purchasing another home by affording better terms and conditions.

 

  • The Federal Housing Finance Agency is extending the assistance to homeowners wih loans backed by Fannie Mae and Freddie Mac currently in forebearance to receive another 3 months extending the Covid19 assistance to 18 months.

 

  • The expected increase of buyers traffic (60.7% higher than same period last year per showingtime.com) for the foreseeable future (2021) due to buyers looking for a more suburban lifestyle, more outdoor/indoor space, more room to breath in the outskirts of bigger cities, especially now that working remotely has and is becoming the new norm.

 

  • REMEMBER: RE is about the 3 P’s; Presentation, Promotion(Exposure) and Price.

Call us for a FREE, NO OBLIGATION consultation.

973-216-1945

Homes For Sale in Clifton by Price Range

$100,000 – $200,000

$500,000 – $600,000

$200,000 – $300,000

$600,000 – $700,000

$300,000 – $400,000

$700,000 – $800,000

$400,000 – $500,000

$800,000+

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RE REport for March 2021

RE REport for March 2021

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RE REport for March 2021

The 2021 Real Estate Market is Already Sizzling Hot

February 2021 median sales price for Clifton was $ 410,000 with 53 homes SOLD and 101.2 Sale to List Price Ratio and 23 days on the market.

Compared to February 2020 with a median sales price of also $338,750, with 34 homes SOLD  99.7 Sale to List Price Ratio and 56 days on the market.

 

If You or Anybody You Know is Thinking to Move on, NOW is the TIME!

RE REport for March 2021 and Compare February 2021 vs February 2020

     

FEB-2021                            FEB-2020

Median Price: $410,000                                      Median Price: $338,750

Days on Market: 23                                             Days on Market: 56

List-to-Sold Ratio: 101.2%                         List-to-Sold Ratio: 99.7

                          #of Units:  53                                                                     #of Units: 34

February 2021: OVER 20% Increase Over Same Period of 2020

That’s Great NEWS, Whether You’re Thinking    to Sell or Someone You Know Who May, Please Help Us Get a Family Their New HOME!

WHAT TO EXPECT IN 2021!? 

The continued rock bottom, historically low-interest rates in spite of the slight increases last couple of weeks and strong buyer traffic with better weather conditions which seems will hold through the end of the Winter and start of Spring, which is traditionally the start of the busiest home shopping season in the Northeast.

Several points to consider:

    • In Clifton as well as other towns and neighborhoods we’re experiencing a shortage of homes for the anxious and desirous buyers, it’s a market still good for move-up buyers and those homeowners usually enjoy substantial gains in appreciation in the last few years which help to entice sellers when purchasing another home by affording better terms and conditions.
    • The Mortgage bankers association estimate 2.7 million homeowners are still in forbearance and might come up in the market later on mostly as traditional sellers given the strong appreciation in the last few years, however, it would not be surprising to see some short sales and even foreclosures later in the year.
    • The expected increase of buyers traffic (60.7% higher than same period last year per showingtime.com) for the foreseeable future (2021) due to buyers looking for a more suburban lifestyle, more outdoor/indoor space, more room to breath in the outskirts of bigger cities, especially now that working remotely has and is becoming the new norm.

 

  • REMEMBER: Real Estate is about the 3 P’s; Presentation, Promotion(Exposure) and Price.

Call us for a FREE, NO OBLIGATION consultation.

Roberto A. Sanchez

973-216-1945

 

 

Do You Know What's Your Home Value?



This is the Best Possible Time to Sell if Thinking to Move.

 

 

Contact Us

12 + 14 =

 

Our Address Is:

18-19 River Rd, Fair Lawn, NJ 07410

Our Telephone:

888-501-6953 Ext. 254 or Cell: 973-216-1945

E-Mail:

Rsanchez@Robsrealtor.com

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2021 RE Market Skyrocketing Up Already!

2021 RE Market Skyrocketing Up Already!

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2021 Real Estate Market Skyrocketing Already!

 

 

 

The housing market is already skyrocketing into 2021 so far. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory of homes available for sale is down 25.7%. There are 360,000 fewer single-family homes for sale today than there were at this time last year. This increase in demand coupled with such limited supply is leading to more bidding wars throughout the country.

Rose Quint, Assistant Vice President for Survey Research with the National Association of Home Builders (NAHB), recently reported:

“The number one reason long-time searchers haven’t made a home purchase is not because of their inability to find an affordably-priced home, but because they continue to get outbid by other offers.”

A survey in the NAHB report showed that 40% of buyers have been outbid for a home they wanted to purchase. This is more than twice the percentage in 2019, which was 19%.

 

What does this mean for sellers today?

It means sellers have tremendous leverage when negotiating with buyers.

In negotiations, leverage is the power that one side may have to influence the other side while moving closer to their negotiating position. A party’s leverage is based on its ability to award benefits or eliminate costs on the other side.

In today’s market, a buyer wants three things:

  1. To buy a home
  2. To buy now before prices continue to appreciate
  3. To buy now and take advantage of historically low mortgage rates while they last

These three buyer needs give the homeowner tremendous leverage when selling their house. Most realize this leverage enables the seller to sell at a good price. However, there may be another need the seller has that can be satisfied by using this leverage.

Sellers must use these benefits to buyers wisely while negotiating the best terms and conditions during a sale to ensure a smooth transition while selling their home for the highest amount possible and under the best terms and conditions.

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Thank you!

 

​

 

 

Do You Know What's Your Home Value?



This is the Best Possible Time to Sell if Thinking to Move.

 

 

Contact Us

3 + 12 =

 

Our Address Is:

18-19 River Rd, Fair Lawn, NJ 07410

Our Telephone:

888-501-6953 Ext. 254 or Cell: 973-216-1945

E-Mail:

Rsanchez@Robsrealtor.com

Signup For FREE Listing Updates

BY EMAIL

Be First At The Opportunity

 

 

Do You Know What’s Your Home Worth Today?

s Alerts

 

WHAT’S YOUR HOME WORTH?

Learn, Prepare and Win!

In your Home Shopping Journey

Northern New Jersey Real Estate Market

Northern New Jersey Real Estate Market

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Northern New Jersey Real Estate Market

Clifton RE Market Report – 2nd Half 2019 vs 2020 

 

The Northern New Jersey Real Estate Market and specifically the town of Clifton RE Market Report – 2nd Half of 2019 VS 2020

Take a Look at Your Local Housing STATS (For Stats Pertaining to your Local Neighborhood, feel free to reach out)

Median Sold Price for Homes Sold ifrom July-December 2019

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 377

Median-Price – Median Sold Price – Sale to List Ratio – DOM

$ 359,000                $ 360,000                    100                       31

VS

Median Sold Price for Homes Sold ifrom July-December 2020

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 61

Median Price  – Median Sold Price  – Sale to List Ratio – DOM

   $ 398,500                 $ 400,000                    100                        20

Over 10% Increase

ABSORTION RATE:

Extremely low, in less than 2 Months all available homes would be gone if no other homes were listed, which is a great indicator of the market activity in a particular area, typically a over 5-6 months of inventory is consider a buyers market.

This is still an outstanding increase of value in just a year, in spite of the health crisis and the tremendous share of uncertainty in many areas of our lives, real estate still shows strength and resiliency in the face of continued concerns about the resurge of Covid-19 cases and virus strains.

WHAT TO EXPECT IN 2021!? 

The continued rock bottom, historically low interest rates, strong buyer traffic in spite of the past Holidays and now severe Winter season in the Northeast tells us its a great time to be a seller, these conditions have contributed to the continued rise of prices, which have been offset the increases in mortgage payments.

Several points to consider:

  • New construction permits by builder is much higher however, it will take some time for these homes to become available.
  • There might be an increase in listings due to homeowners in hardship looking to sell to avoid foreclosure.
  • Expected increase of buyers traffic (60.7% higher than same period last year per showingtime.com) for the foreseeable future (2021) due to buyers looking for a more suburban lifestyle, more outdoor/indoor space, more room to breath in the outskirts of bigger cities, especially now that working remotely has and is becoming the new norm.
  • After a period of continued uncertainty it might be the best time to sell higher in a high demand-less inventory market, attaining higher price with possible multiple offers and better terms/conditions.
  • REMEMBER: RE is about the 3 P’s; Presentation, Promotion(Exposure) and Price.

Call us for a FREE consulation.

 Have a great week and Prosperou, Peaceful and Healthy 2021

BE SAFE!

Homes For Sale in Clifton by Price Range

$100,000 – $200,000

$500,000 – $600,000

$200,000 – $300,000

$600,000 – $700,000

$300,000 – $400,000

$700,000 – $800,000

$400,000 – $500,000

$800,000+

Search For Any Properties in New Jersey