Heller Industrial Parks Inc. has a strategy, sticks to it — and has seen it pay off.
The Edison-based developer of industrial real estate said it has maintained full occupancy of its New Jersey portfolio for five consecutive years now, and maintained full occupancy of its 15 million-square-foot national portfolio in 2016.
Heller President Brian Banaszynski attributed the success of the company to its management strategy, business model and the lasting impact of its late founder, Ike Heller.
When the time comes to sell your home, most real estate agents will advise you to update and refresh your décor (unless you have recently done so) – a fresh coat of paint on the walls, a little less clutter on the shelves, and, oh yeah, replace your carpet! This process is known as staging your home – you are “setting the stage” for buyers to see your home in its most appealing and aesthetically pleasing state.
According to Ronique Gibson, Home Staging Expert, “the finishes and material in your home can make a huge difference when getting a higher return on your investment (ROI) in the sale of your home.” It goes without saying, therefore, that having soiled, stained, or matted carpet will not go far towards getting top dollar for your home, and could cause your home to sit longer on the market. This is why many sellers choose to replace tired carpet or floors before listing their home.
One of the oldest towns in New Jersey has become the poster child for “smart growth” and with the continued shift towards walkable living being desired, the military capital of the American Revolution is adding some modern housing to its historic landscape.
Morristown, just over 18,000 people and about 40 miles from NYC, is undeniably farther removed from the region’s urban core than other growing downtowns. However, it does feature direct train service to Penn Station, which helped their population grow by almost 15% during the 1990s.
State officials took notice, designating Morristown as of one of New Jersey’s first “transit villages” back in 1999. Those efforts, along with a revamped zoning code and a few redevelopment plans, have jolted life and development into areas near South Street, the town’s main drag.
It’s a tough time for buyers—not enough homes on the market, and prices just keep on rising (those things are not unrelated). But despite the frustrations, 2016 was the best year in a decade for existing home sales, according to the most recent National Association of Realtors® report.
Brian Patrick Flynn, designer of this year’s HGTV® Dream Home, shares tips on how to boost your home’s curb appeal with landscaping, a welcoming entry and more.
Buying a house in 2017 will feel kind of like you’ve jumped onto the subway just as the doors were closing. Your heart’s pounding and you’re winded from the race, but you made it—just in time.
OK, so maybe that’s a little exaggerated. But here’s the thing: Interest rates have begun to rise and will likely climb higher. Inventory is low and could shrink more. And home prices? Well, home prices are increasing—and they’re not predicted to fall any time soon.
If you don’t jump aboard the real estate train now, you might be too late.
New Jersey led the country in foreclosures for the second year in a row at more than double the national rate.
Atlantic City topped the national list of metro areas with the highest foreclosure rate in 2016 at 3.39 percent, followed by Trenton at 2.16 percent. RealtyTrac tracks metropolitan statistical areas with a population of at least 200,000 or more.
Borrowing costs moved lower this week. But most economists aren’t predicting the trajectory to continue.
This marked the first time in 10 weeks that mortgage rates moved lower, Freddie Mac reports.
"The 30-year mortgage rate fell this week for the first time since the presidential election, dropping 12 basis points to 4.20 percent,” says Sean Becketti, Freddie Mac’s chief economist. “This marks the first time since 2014 that mortgage rates opened the year above 4 percent. Despite this week's breather, the 66-basis point increase in the mortgage rate since November 3 is taking its toll -- the MBA's refinance index plunged 22 percent this week."
Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 5:
Small backyards can sometimes seem limiting in terms of what you can add to them. Don't be deterred though, as there is a plethora of ways to decorate it. Small backyards have many landscaping options to make them beautiful and open. Here are some ideas to help.
1. Install a deck.
Adding a deck is a quick, efficient and natural way to add onto a small backyard. It will also cost less than the national average if you have a small backyard. They are also good for adding two levels, which can be good if you want to have one for dining and another for plants. It's also a way to separate the yard from another type of space without taking up a lot of room. Pro tip: deck boards should be laid diagonally, not straight to optimize yard square footage.
Houses are becoming less affordable in the United States with the latest figures showing that in the final quarter of 2016 29% were less affordable than their historic affordability averages.
This was up from 24% of markets in the previous quarter and up from 13% a year ago to the highest share since the third quarter of 2009 when 47% of markets were less affordable than their historic affordability averages.
The home affordability index from real estate data firm ATTOM Data Solutions analyses median home prices and makes calculations based on the percentage of average wages needed to make monthly house payments on a median priced home with a 30 year fixed rate and a 3% down payment, including property taxes and insurance.
An index of 100 indicates market affordability on par with historical norms while above 100 indicates more affordable than historic norms and below 100 indicates less affordable than historic norms.
Nationally the affordability index in the fourth quarter was 103, down from 108 in the previous quarter and down from 116 a year ago to the lowest level since the fourth quarter of 2008 when the national home affordability index was 102.
‘Rapid home price appreciation and tepid wage growth have combined to erode home affordability during this housing recovery and the recent uptick in mortgage rates only accelerated that trend in the fourth quarter,’ said Daren Blomquist, senior vice president at ATTOM Data Solutions.
‘The prospect of further interest rate hikes in 2017 will likely cause further deterioration of home affordability next year. Absent a strong resurgence in wage growth, that will put downward pressure on home price appreciation in many local markets,’ he added.
Out of the 447 counties analysed in the report some 130 or 29% had an affordability index below 100, indicating they are less affordable than their historic norms.
Those with the lowest affordability index in the final quarter of 2016 were Cumberland County in Tennessee, Genesee County in Michigan, Denver County in Colorado, Adams County in Colorado and Wilson County in Tennessee.
Annual home price growth outpaced annual wage growth in 81% of counties, up from 77% in the previous quarter and up from 57% a year ago.
Since bottoming out in the first quarter of 2012, the national median home price has increased 60% while average weekly wages have increased just 1% over the same period.
However, affordability has improved in 18% of markets compared to year ago but this is down from 39% of counties with improving affordability in the previous quarter and down from 26% in the fourth quarter of 2015.
On average across the 447 counties analysed, average wage earners need to spend 36.9% of their income to buy a median priced home, still below the historic average of 39.1% but up from 36.6% in the previous quarter and up from 35.2% a year ago.
The seller accepted your offer, and now you've just got to sign on the dotted line. Right?
For some home buyers, the closing day for a real estate purchase is as formal and complicated as the transaction itself. For others, it’s just a blip on the radar. Either way, there are some important things to keep in mind as you make your way to homeownership.
As a new year begins real estate leaders and industry experts are looking ahead to what 2017 may hold for home sellers and buyers. I have been reviewing reports and articles on what trends are expected to rise or fall over the coming months. While there are differences in what trends are anticipated, depending on the sources cited, I have discovered some themes, or similarities which are summarized below. If 2017 is the year for you to buy or sell property, understanding what could influence the market will help you have successful results.
Thinking about buying your first home? What an exciting time this is bound to be. And, also, what a (potentially) overwhelming, confusing, and stress-filled time. It can easily veer into scary territory if you're not prepared and not surrounding yourself with professionals who can help guide you in the right direction.
These seven tips can help you make that dream of homeownership come true in 2017.
1. Work with the right real estate agent
The guy next door or your brother's girlfriend's cousin who just got his real estate license may be hungry to get your business, but that doesn't mean he's your best bet. An experienced agent quite simply knows things that someone who is brand new probably doesn't. An experienced agent will also have important relationships in place that may be able to help buyers in every facet of the home purchase, including:
Tress Realty Group compiles some of the best real estate news, tips, and information for buyers, sellers and investors.