Category Archive: New Jersey

Navigating Real Estate During COVID-19: Weekly Updates

If you are wondering how real estate is faring in and surrounding Manhattan, our team will be providing up-to-date trends and information. This will be updated routinely as we navigate through these trying times. Check out our latest installment below and if you have any questions that could possibly be featured next week, please contact us

Week of 6/15:


 

Week of 6/1:

Russell Putterman, Matt Lenner and Expert Advisor, Jon Wanberg, sat down to discuss what the real estate market in Orlando, FL as well as variances to the home inspection processes along the East Coast.

Week of 5/18:

In this video, Russell Putterman and Jesse Gordon (Attorney at Law) with Gordon & Petkos LLP, sat down to discuss what new deals look like in NYC and types of concessions that have been seen during the spring of 2020.

Week of 5/11:

In this video, Matt Lenner (Our Long Island Team Leader) and Russ Putterman (Focus’ Team Leader) sat down to discuss the current real estate trends on the island, current showing restrictions amid the pandemic and tips for seller and buyers. Some of major topics that were discussed included:

    • What is being seen on Long Island during the pandemic?
    • Why is inventory an issue on the island?
    • New York restrictions for showing homes.
    • How Monmouth County of New Jersey is comparing to LI?
    • What is expected to happen in LI during the summer and fall?
    • Tips for buyers and sellers

 

Week of 5/4:

For this week’s video, Russ Putterman sat down with Todd Zipkin from Americana Mortgage to discuss the lending market. Some of major topics that were discussed included:

  • How guidelines have recently changed.
  • Availability/rates for jumbo, conforming and high balance loans.
  • Rate differences between refinances and purchases.
  • How banks are adjusting to the situation.
  • Tips for refinancing.

Week of 4/27:

In this latest installment, we discuss some of the common questions that we’ve received as we head into May. This includes:

  • Market updates for the end of April as well as the pace of units and supply.
  • Can buyers negotiate prices at the moment?
  • What are the new standards for selling your home in the current market?
  • Can homes still close during the pandemic?

 

Week of 4/20: 

In this first video, Russ Putterman (Focus’ Team Leader) sat down to answer some of the common questions surrounding the real estate market in late April. Russ reviews: 

  • The variances in how NYC, Long Island and New Jersey are responding to COVID-19’s impact on real estate. 
  • The effect on mortgages, liquidity in the market and where jumbo loans stand. 
  • What to possibly expect when the market goes back to some level of normalcy. 
  • How consumer behavior is changing for both the commercial and residential markets.

Benefits of Buying a Home in New Jersey When Working in NYC

If you’ve made it to this post, are you a New Yorker who is tired of the small living spaces, constant chaos and eventful subway rides? Well if so, you’ve come to the perfect place to find out one of the hidden gems near the city that can help you to avert these situations…New Jersey! Don’t get us wrong, NYC is still a one-of-kind place to work, enjoy time with friends and relax on the weekends, but more tri-staters are learning that New Jersey has many benefits to the area – that still allow for easy access into the city. Below, we will go through some of the top reasons you may want to consider buying in Jersey while working in Manhattan.nj commuting

  1. Easy and Convenient Commuting Experience – There are tons of different ways to get into the city while living in New Jersey which include: 
    1. Train – You can take NJ transit to get into the city or switch over to the Path. depending on where you are headed; Often times, this route takes about an hour 
    2. Bus – A simple solution that can drop you off right at the Port Authority. This commute can take just under an hour in most cases.
    3. Boat – The Ferry can take you to Wall Street within 40 minutes. 
    4. Drive – In most cases, this can take about an hour as well.  
  2. High Value for the Price – It’s safe to say that Manhattan is one of the highest cost places to buy in the country. With this in mind, buying property in New Jersey is the secret to value while still getting to enjoy all of the city perks. Let’s work with an example of a home buyer that wants to spend $1.3 million – in Manhattan, the price point can get this buyer a decent two bedroom but in New Jersey, you can get an actual house. Perhaps even a four bedroom home near plenty of schools and the luxury of having a nearby beach. 

The upper echelons who may be looking in the $10 million range can get high value in Manhattan – However, that amount can also translate to the range of 10,000 square feet for a home on the ocean in NJ (in some cases). 

  1. Calming Environment Compared to the Hustle and Bustle of NYC – Between the traffic, thousands of people on the streets and small spaces, the city can sometimes feel overwhelming and claustrophobic. There’s no denying that the city offers many opportunities for work and a highly collaborative environment but it can be refreshing to get away from the busyness during the evenings and weekends. New Jersey offers many great aspects like a wide variety of places to eat, beaches paired with stores and restaurants.

Interestingly enough, a few of our team members have moved from NYC to New Jersey and can also give first-hand testimonials of how enlightening the experience has been. Our Team Leader, Russ, lived in Manhattan and bought a house that he used on the weekends while commuting to the city for some time. He’s noted that this lifestyle can be very ideal since it’s a quick city escape. Also, this is a market that is currently under the radar. 

Our team services buyers and sellers throughout New Jersey. If you have any interest in working with our team to buy your New Jersey dream home, contact us today!