Great Morning Quote…How “Important is Passion and or Burning Desire?”

Hoboken Real Estate: Great new property under 500K

Sean T Shallis Featured on WPIX TV

Sean Shallis will appear on WPIX TV at 8:30am Eastern time on Friday to discuss School Scores and Real Estate choices in New Jersey.

• Union County Real Estate Tax vs School Performance Mashup
• Hudson County Real Estate Tax vs School Performance Mashup
• Morris County Real Estate Tax vs School Performance Mashup
• Essex County Real Estate Tax vs School Performance Mashup

Whether you’re considering buying or selling, we can help. Send me an email or call me immediately at 201-988-1393 for a personal and confidential conversation.

10 Cleaning Tips to Sell Your Property

Getting a house to sell these days can be a daunting task. With the flood of homes on the market due to the economy and the constant wave of foreclosures, competition is tough. Add to the mix the competition from the inventory of new homes and condos with upgrades and incentives that buyers never thought possible a few years ago.

So how does the average home seller compete? The key is to create a clean clutter free environment that creates an inviting lifestyle. Whether or not you home has been remodeled, the first priority in selling a home is that it’s clean and streamlined. Potential buyers need help envisioning your home with their lifestyle. Having clutter, knick knacks and overly decorated rooms are an instant turn off that interfere with the basic layout of the home. Here are some helpful tips that can make a big difference without breaking the bank.

Real Estate Cleaning Tips:

• Clean the Clutter. Prospective home buyers don’t want to see your bills, post-it notes or your child’s latest masterpiece on the refrigerator. They want to see clean open space. Laundry, unfinished projects and toys must be contained in an out-of-site storage place.

• Hire Professional Cleaners. Yes, we’re a bit bias on this one but it really does pay off. Real estate cleaners can take care of important cleaning tasks that don’t normally get done such as cleaning outside windows, pressure washing the exterior, grout cleaning, mold removal, wall washing, upholstery cleaning, deep carpet cleaning and stain removal. Professional cleaners get the house in shape with an initial cleaning that will allow you to simply maintain the day to day chores.

• Paint. Painting creates a clean look and is a relatively inexpensive way to update your home. Neutral tones are always the safest option to help a buyer feel comfortable.

• Pack Up. Since moving is your ultimate goal, start packing knick knacks, CD’s, books and memorabilia early. This allows more space to be seen and shows a more generic home that could be lived in by anyone. Store the boxes in a garage or storage facility so they don’t add clutter.

• Set the Mood. When possible before a potential buyer comes to look at your home, create an inviting atmosphere. Open some windows to let in some fresh air and light. Turn off the TVs and turn on some quiet music. Place fresh flowers in the kitchen or on the dining room table.

• Counter Space. Try to create as much open space on the counters as possible. There should be no visible storage containers or unnecessary appliances such as coffee grinders, grills, griddles, bowls, rotisseries, etc. Give the counters a good wipe down and remove any stains.

• Closets, Cupboards and Cabinets. Potential home buyers want to see exactly what they might be getting. This includes the inside of closets, cabinets and cupboards to see how much space lies behind the doors. These spaces need to be cleaned up and scaled down with the amount of stuff hidden in them. The more space that is showing, the larger it will look. Pack any non-essentials away and store them in the garage or storage facility.

• First Impressions. When selling a home it’s important to remember the outside of the home is its first impression. Replace any dead plants and landscaping. Clear all weeds and fix any brickwork or drywall issues. Make sure the outside paint is current and maintained.

• Appliances. If your house or condo is on the market and the appliances are included, it’s important to clean and maintain the inside as well as the outside. Clients will be looking to see exactly what they are getting, how well the appliances are maintained and how much space is inside.

• The Garage. It’s easy to move your clutter from the inside of the house to the garage. However, this space needs to be seen in the best light possible too. A garage packed with boxes, bicycles, furniture, toys and memorabilia will make the space look much smaller and give the buyer the impression that there is not enough room. Consider renting a storage room for a few months while your home is on the market.

Once your house is clean and streamlined, it will allow you to see what further improvements you would like to make. Experienced professional real estate cleaners can help get your home into model condition. ABM Cleaning is a trusted and experienced real estate cleaning service in the tri-state area as well as up and down the East Coast. We are bonded, insured and our employees are trained and certified to follow OSHA and EPA guidelines. Please contact us directly for a free estimate at toll free 1-877-667-4725.

In this real estate market finding experienced real estate help is essential. Please contact Sean T Shallis at The Shallis Group for a personal consultation on your buying or selling needs at 201-427-1032.

Sean Shallis and The Shallis Group #1 of 19,000 Weichert sales associates in the Nation!

Home Staging: Tips on how make it a success

Selling a home is not as simple as it once was. With the flood of homes on the market due to the economic downturn and another wave of foreclosures just around the corner, competition is tough. Adding to the mix is the bountiful inventory of new home and condo builds on the market with upgrades and incentives that never seemed possible four years ago. For home buyers, this is paradise.

However, when it comes to selling a home, potential buyers are looking for pristine conditions, plenty of upgrades and decor seen in model homes. Kitchens are now expected to have stainless steel appliances and granite counter tops. Bathrooms are expected to have tile floors, updated fixtures and new paint. But before you go running to Home Depot, it is important to understand where your money will best be spent. Upgrading a kitchen with new appliances and cabinets will earn more in resale value and attract more buyers than your pool in the backyard.

What is home staging?
Another inexpensive way to entice home buyers is a successful staging of your home. Home buyers need help envisioning what your home would be like if they were to buy it. Having clutter, knick knacks and excessive memorabilia interfere with the basic layout of the home and can make the home appear much smaller. There are staging professionals that can be hired to help evaluate your space and show you the changes that need to be made in order for the home to sell.

Here are some useful tips you can do yourself:

• Update furniture. Furniture should match or look like it belongs together. If there are pieces in the room that are not necessary, take them out to open up more space.

• Clean the clutter. Prospective home buyers don’t want to see your bills, post-it notes on counter tops or your child’s latest masterpiece on the refrigerator. They want to see space. Laundry, unfinished projects and toys must be contained in an out-of-site storage place.

• Smaller is better. Too much furniture or furniture that is too big for a particular room needs to be placed in storage. This will open up a room and give the appearance of more square footage. Keep it as simple as possible.

• Paint. Painting is a relatively inexpensive way to update your home and give it a clean look. Neutral tones are always the safest option to help a buyer feel comfortable.

• Think green. If a room appears too cold or somewhat bare, add plants that are appropriate in size to help add warmth and take up the space. They are a less expensive alternative to buying furniture.

• Upgrade accessories. Upgrade bath towels, shower curtains (no vinyl) and counter top accessories. Fabric shower curtains give a more elegant look to a bathroom and towels should complete the look. If shower bottles are within eye site, place them in a cabinet when the home is being shown.

• Clear kitchen counters. Try to create as much open space on the kitchen counters as possible. There should be no visible storage containers or unnecessary appliances such as coffee grinders, grills, griddles, bowls, rotisseries, etc. Open counter tops give the appearance of a bigger brighter kitchen.

• Look outside. When selling a home it’s important to remember its curb appeal. Replace any dead plants and landscaping. Clear all weeds and fix any brickwork or drywall issues. Make sure the outside paint is current and maintained.

• Atmosphere. When possible before a buyer comes to look at your home, create an inviting atmosphere. Open some windows to let in some fresh air and light. Turn off the TVs and turn on some quiet music. Place fresh flowers in the kitchen or on the dining room table.

Does staging work?
A 2005 study done by Coldwell Banker found that the average home was then on the market for 31 days. However, the average staged home sold in only two weeks. In addition to a faster selling time, the price of a staged home went for 6.3% above asking price. Although the study was done at the height of the real estate market, the results still prove relevant today.

An experienced real estate agent can give helpful guidance and tips for improving the look and selling points of your home. It is important to find a Realtor that best fits your buying or selling needs. For tips on what to look for in a Realtor, please see How to choose the best Realtor for you.

In this real estate market finding experienced real estate help is essential. Please contact Sean T Shallis at The Shallis Group for a personal consultation on your buying or selling needs at 201-427-1032.

Weehawken, NJ Real Estate Question

I’m thinking of buying at Aristocrat Condos, 48th Street, Weehawken. Is this a good buy?

It has 16 units, 15 were sold out in an auction in April. One unit (1 bed, 1 1/2 bath) available to buy because the bidder who won the auction couldn’t get a mortgage. Is this property a good/safe buy? Will it appreciate in 5 yrs? Will it rent out easily?

Great question

I disagree with comments such as, “Nothing is safe”. If you’ve ever read anything from Warren Buffet on investing, he repeatedly says, “investing blindly or without knowledge is gambling… I’m not in the gambling business.”

Here are a couple of quick points to consider:

1. If fifteen out of sixteen sold at auction, obviously there is demand for these particular units.
2. It also depends on the acquisition price relative to the sold comps (other sold units).
3. Here is a question for you to consider: “Are you buying as an investment or primary residence? Are you looking for a home or a deal or both?” Its important to know if the acquisition is purely investment.

It’s all in the numbers

1. Figure two ways out before getting into the deal. “If I had to sell today, what is the property worth?” Then, take that number and minus 10%.
2. What is your ROI (Return on Investment)? Understand that in real estate you can still be profitable with a flat gross monthly income and expense. How you ask? The tax benefits for owning real estate are incredible. Talk to your accountant about a Real Estate Holding Company.
3. Do I want and or need to be a landlord?
4. Can I generate an equal or better ROI with less stress and effort on a more passive investment (maybe buying tax liens)?

Here is a great website to help you with this: mortgage-investments.com.

Another scenario:

Buying for me.
1. Does it suit your needs and desires? We all need to live somewhere. At one point in my life, I had a two bench seat car I lived in for three weeks. Now, I’m very blessed to live in Port Liberte in Jersey City on the Hudson with my family.
2. Can you buy the unit at a value similar to the others sold recently? For example, if it’s a one bedroom, look at all the one bedrooms that sold. Then, divide the sold price by the sqf. Get a multiple and then use that to determine if it’s a value of not.

Lastly, is now a great time to buy? YES! Go to my recent blog post in regard to my 90 day market review of Hudson County. for a detailed response to this question.

For a personal evaluation and more information on West New York, please feel free to call me immediately at 201-427-1032.

New Home Sales on the Rise in July

Sales of new home builds take an unexpected jump in July.

The ride on the real estate roll-a-coaster takes yet another turn. This time, it’s a turn for the better! The number for new home sales in July reached their highest level in almost a year. According to the Census Bureau and Department of Housing and Urban Development (HUD), new home sales were up 9.6% from the month of June. Increases have also been reported in existing home sales, home prices (depending on the area) and affordability.

Why the market’s looking up:
According to Bob Walters, Quicken Loans chief economist, “There are many economic conditions that led to the surge. Certainly low mortgage rates, huge price reductions on the high inventory of new builds, and the first-time home buyer tax credit have been instrumental in getting consumers to take the plunge into the real estate pool of opportunity.”

Adding to the increase in new home sales is the fact that fewer contracts are being canceled. In some hard hit areas, such as Phoenix, cancellation rates have been almost cut in half compared to last year. Inventory was also reduced to a more manageable 7.5 month supply. However, with the new home buyer tax credit ending November 30, these numbers might not last long.

Between existing and purposed tax incentives, low mortgage rates and home prices, this could become a buyer’s paradise and finding the right real estate help is essential. Please contact Sean T Shallis at The Shallis Group for a personal consultation on your buying or selling needs at 201-427-1032.

(source: money.cnn.com)

Great Realtor or Blogger: How do you tell the difference?

I’ve been told, “show your personality on your Blog posts.” So I’ve been reading several blogs focused in the Hoboken, NJ real estate market written by so called…”Real Estate Experts”?

What is the definition of a real estate expert in the Blogosphere anyway…?
The reality is that whether you’re buying or selling great information is important. One of the tricks in today’s changing real estate market is knowing if the so called “expert” giving you the information and analysis actually has the credentials and or the practical experience to help you interpret the information accurately.

Some other questions that come to mind when determining if the person or blog writer is actually an expert:

1. How do I know this person’s background and area of expertise?
2. What should I look for?
3. What should I be asking before committing to working with the so called expert?

Here is a simple analogy:
Your child gets sick and you go to the doctor and he says, “This is very serious. We need to operate immediately. It’s a matter of life and death..” You say to yourself, “Oh my god…It’s critical we find a “surgeon” or ”expert in the field” ASAP!

All the questions start to run through your head such as:

1. How many times a month does he do this operation?
2. Is he a specialist or a general surgeon?
3. What is his or her success rate?
4. How long is the recovery time?

Then your so called “expert/blogger” says..”Well…to be honest….”

Median Gross Personal Income of REALTORS®

Real Estate Got You Down? Think of Carlos Justo!

So when your having a challenging day and you think “it can’t get any worse”, it’s easy for the rock stars to say, “Have a positive attitude…Don’t be attached to the outcome!” What do you do when your $20 million in the hole?

The following is a very true story of a personal friend of mine, Carlos Justo the rock star of real estate. Carlos Justo’s empire reached 200 Million in volume in a year.. oh on about 50 transactions! Though Carlos may not be very good at managing money, there is a tremendous amount to learn from him in regard to his mindset, positive attitude and giving heart!

One of my most vivid experiences with Carlos was about 6 years ago. The market was flying and Carlos and I were accountability partners. We’d speak daily to say I did or didn’t do my job today. During this relationship my grandmother passed in Florida. She lived about 30 minutes south of Miami.

I’ll never forget that morning talking to Carlos from her house several hours after her passing. He realized instantly something was wrong. After I explained what had just happened he said (in typical flamboyant Carlos fashion), “Baby, baby…I’m so sorry to hear about your grandmother.” To make a long story short, it was going to be several days before the services.

Carlos sent his Bentley limo to pick me up and drive me to his penthouse on the strip in South Beach, FL. He said, “I’ll be in St. John for a month. Stay as long as you like. My butler and driver will take care of your every need. If you need anything you call them or me!” Funny, it’s a lot easier to relax in a multi-million dollar penthouse over looking South Beach with fresh squeezed juice and breakfast prepared for you…

The moral of my story: physical and or financial defeat is temporary….We are only defeated when we mentally quit! Knowing Carlos, the next article we’ll read will be something along the lines of, “Flamboyant Real Estate Agent Buys Yacht ….! “

Read the story of a personal friend of mine Carlos Justo on Yahoo.com.

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