Hello Design Lovers! 🏡💕

Can you believe it’s almost spring?! We’re a little less than a month away and I’m itching for some warmer weather, flowers, and saying goodbye to this snow! What a friggin winter we’ve had here in Jersey!! I think we’re all looking forward to spring at this point.

Anyway! Enough about the weather. Let’s switch it up and talk about real estate, shall we?

Real estate in New Jersey is on FIRE! Well not literally, of course, it’s doing extremely well! We are looking at the perfect example of a seller’s market. And what does that mean exactly? Well it goes back to simple economics of supply and demand. Right now, there just isn’t enough inventory on the market to meet the needs of all these home buyers.

These buyers aren’t just fellow New Jersey folks. Since the pandemic, people have been fleeing cities and coming to Jersey. Since we are sandwiched right in between two major cities (New York City and Philly), the suburbs of Jersey are looking more desirable than ever.

Buyers want to leave these cities to come to the suburbs and what better time than when the mortgage interest rates have been at an all time low (although right now they are beginning to increase). According to Freddie Mac, the average interest rate on a 30-year fixed-rate mortgage went up to 2.97%. Which is still a low rate!

So what does this mean for sellers, you may ask? Well these lucky sellers are receiving offers well over asking! In some cases, we’re talkin’ $50,000 over asking!

As long as their agents are marketing their home properly including staging their listings, they can see some bidding wars. That means making sure sellers are de-cluttering, painting, and using the proper furniture and accessories that really make the home stand out. Home staging is SO important when it comes to putting a house on the market.

Remember, I do it all! I’m a designer, a home stager, and a Realtor® which is helpful for you if you’re looking to buy or sell in Bergen County, New Jersey. I’m you’re “one stop shop” so I will be with you every step of the way. Please feel free to reach out to me if you have any questions or need some advice! I’m here to help 🤗

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