Real Estate Analysis and Commentary in New Jersey



Are you holding on to a property in New Jersey and you aren’t exactly sure why? Every day that you continue to own the property, you are spending money on it. Before you hold on to it for another day, consider the below points. It might be time to think about selling your New Jersey home! How much does holding a property cost in New Jersey? Keep reading to find out!

Ask any property flipper and they will tell you this: the faster you make the flip, the more money you will make. Plain and simple, owning real estate costs money. And if you are holding on to the property for sentimental reasons or because you “might” use it one day, you are only throwing your money away. The property you own should be working for you NOW. It can be your primary residence, providing a monthly income, or be used for recreational purposes. If your New Jersey house isn’t doing one these things, it might be time you consider selling it! Take time to know the costs of holding a property in New Jersey.

Costs of Holding A Property In New Jersey

Property Taxes

Property taxes can be high. With recent changes to the tax code, they are no longer deductible either. As long as you are listed as the owner of the home, you will be responsible for the taxes on it. By selling your house in a timely manner, you can immediately end your tax obligation for the home. 

Utilities

Monthly utilities add up quickly. If you were to add up the amount you’ve spent on electricity, water, gas, tv, and internet you might be surprised at how high that number is. Even if you aren’t residing in the home while selling it, you will still need to keep the lights and the water on for the people who come to see your house. If your house is older and less energy efficient, you are likely to have utility bills significantly higher than what you would find in a new home.

Maintenance & Repairs

A good rule of thumb for maintenance costs is the one percent rule. This rule states that you should plan to spend about one percent of your purchase price on maintenance each year. For example, if your house was purchased for $250,000, you should plan to spend about $2,500 on home maintenance each year. Of course, these numbers can vary widely, but many investors use this formula to estimate costs.

Homeowners Insurance

The premium for a homeowners insurance policy will vary based on the house and its location. You can expect to pay over $1000 annually for an average New Jersey home.

Mortgage Payments

It can be difficult to come up with a mortgage payment each and every month for a property you don’t want to own. The average mortgage payment nationwide is well over $1000 each month. Some people are struggling to pay thousands of dollars each month when in reality they would be much better off selling the property.

Opportunity Costs

What else could you be doing with the money you have tied up in the house? You could very well be missing out on a better home or investment opportunity. Look around at what else is out there and decide if you are truly happy with your current situation. If your property isn’t doing anything for you, it might be time to find something new!

Knowing the costs of holding a property in New Jersey, selling your home now as opposed to later can help you keep more money in your pocket. For every day you continue to own it, you will also continue having to be financially responsible for it. The bills and maintenance costs add up quickly. Run the numbers for yourself and make the decision that makes the most sense for you!

Are you holding onto a property you aren’t using? We can help! Give us a call today! (908) 456-1593

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.


January 30th, 2023 9:39 AM


You can save money every month by ordering an appraisal on your property today.

Private Mortgage Insurance, or PMI, is a supplemental insurance policy that you may be paying to protect your mortgage lender in the event of your default.

But you have the right to cancel this PMI fee when your equity reaches 20%.

With home values rising so quickly, you may have 20% equity and are therefore able to cancel your PMI and not even know it!

Log on to www.tightandrightrealestatevaluation.com today or contact us today!

Tight & Right Real Estate Valuation
Cardwell Thaxton, New Jersey
(908) 456-1593
CardwellThaxton@gmail.com

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January 27th, 2023 10:12 AM


Many homeowners like you are getting saddled with increased property tax bills - but you can protect yourself if you think you're being overcharged. Establishing your home's "true market value" and proving that the value of your property is less than the estimate assigned by your assessing district is the only way to contest the proposed higher taxes.

That's where we can help. If you think your property taxes might be unfairly inflated, an appraisal can determine if they are really based on the "true market value" or a higher, incorrect estimate.

To learn more about protecting your rights as a homeowner, contact us or visit our website today.

Tight And Right Real Estate Valuation
Cardwell Thaxton, New Jersey
(908) 456-1593
CardwellThaxton@gmail.com


#appraiser #realestateappraiser #realestateappraisal #Moneyneversleeps #nareb #businesspassion #realtors #divorce #realestatelife #houses #property #newjerseyrealestate #foreclosures #realestateconsultant #GardenState #NewJersey



Maybe you’ve been on the fence about selling your house. You are wondering if it’s the right time. We have put together a few questions to ask yourself to help you determine if it’s the right time to sell your New Jersey home! 

What is the property doing for you?

Your house should be doing one of these things:

  • The home is your primary residence, somewhere that meets all of you and your family’s needs.
  • It is a house you rent to high-quality tenants. It provides a consistent income with low overhead costs.
  • You use the property for recreation. Maybe is a place for vacations or a weekend home.

If your home is vacant or costing you in repairs or tenant turnover, it might be time to consider selling it!

Is there another property that would better meet your needs financially?

In the world of investing, they call this “Opportunity Cost.” What property are you potentially missing out on because your money is tied up in a different one? Take a look at what’s out there. Is there a better place you could be investing your money?

Do you have “too much house?”

People buy their homes for what they need at the present moment. If you have a house full of kids, you might require a 5-bedroom home. However, down the road, you might not need so much space. Keeping up with a home that is too large can be stressful! You don’t need to live in a house that it too high maintenance.

Or do you feel cramped?

On the flip side, people often grow out of there space. As families grow and acquire more things, they often require more space. Imagine what having a little extra space could mean for you and your family!

Is this really the house you want to be in forever?

There is no rule that states you need to stay in the same home forever. The beauty of real estate is that you can move at any time you want. Think about your future, a few years down the road. Can you picture yourself in the same place, or do you see yourself somewhere different?

Does the house need repairs?

Maybe the house is old and is in need of repairs you simply don’t want to make. Making repairs on a house you don’t really want can not only be expensive, but stressful and burdensome too. You can choose to work with a reputable direct buyer such as The Cardwell Thaxton Group, who will buy your New Jersey house as-is. We will take care of everything, including the property’s repairs.

Do you have equity in the home?

If you are able to sell your house, pay off your mortgage, and have some left over to put down on a new house, selling might be right for you! If you are able to get at least 20% down for your new home, even better! If you would like to know more about the current value of your home, call us for a CMA (comparative market analysis) on your property! (908) 456-1593.

What is owning your New Jersey house costing you?

How much are you spending each and every month to own the house? The costs of home ownership go well beyond a mortgage payment. You will need to consider other ways you are spending money on the house such as taxes, insurance, and maintenance.

If you have been thinking about selling, it likely means that it is the right time to sell! There isn’t one answer that is right for everyone! Consider your options and make the decision that works best for you! Our team is ready to help answer any questions you may have!

Interested in selling your house in New Jersey? Today is the right time to sell. We can help! Send us a message or give us a call today! (908) 456-1593

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.




We can help you eliminate PMI!

PMI, also known as Private Mortgage Insurance, is a supplemental insurance policy you may pay for to protect your mortgage lender in the event of your default. PMI is provided by private (non-government) companies and is usually required when your loan-to-value ratio - the amount of your mortgage loan divided by the value of your home - is greater than 80%. PMI isn't a bad thing - it allows lenders to accept lower down payments on homes than they would normally be comfortable with. But you may be paying it unnecessarily!

How can you eliminate your PMI insurance?

You have the right to cancel PMI (for loans made after July 1999) once your equity reaches 20%, irrespective of the original purchase price.

When you think you've reached 20% equity in your home, you can begin the process of freeing yourself from PMI payments! You will need to notify your mortgage lender that you want to cancel PMI payments and you'll need to submit proof that you have at least 20% equity. A state certified appraisal on the appropriate form (URAR; uniform residential appraisal report for single family homes) is the best proof there is - and most lenders require one before they'll cancel PMI.

Don't delay! If you can avoid paying hundreds of dollars a year to insure someone else's risk, it's worth starting right away.

Tight And Right Real Estate Valuation
Cardwell Thaxton, New Jersey
(908) 456-1593
CardwellThaxton@gmail.com


#appraiser #realestateappraiser #realestateappraisal #Moneyneversleeps #nareb #businesspassion #realtors #divorce #realestatelife #houses #property #newjerseyrealestate #foreclosures #realestateconsultant #GardenState #NewJersey



For many people, the thought of selling their home can seem like a lot of work accompanied by a long list of expenses. It might seem even more overwhelming if the property is in disarray or needs repair. However, it doesn’t have to be that way! In our latest post, we will explore the ways you can sell your house in new Jersey without any hassle whatsoever! 

When selling a house in New Jersey, most people immediately think about hiring an agent and listing the property on the MLS. This is a great solution for many people; however, you should know there are other options available to you. There are many ways to sell a New Jersey house! Consider your options to discover which selling method is right for you and your situation!

Sell Directly to A Professional Home Buyer

You can sell your house without using an agent, ultimately saving a ton of time and money depending on the situation. There are companies such as The Cardwell Thaxton Group that will buy your New Jersey house using a straight-forward and simple process. With a direct sale, you won’t have to worry about commission, repairs, cleaning-up or waiting for a buyer to come along. You will immediately know the amount you are receiving as well as the closing date so you aren’t left in limbo, wondering when your house will sell.

Direct sales are becoming increasingly popular, however, not all buyers are the same. Make sure you do your homework on both the local market and the buyer you are working with. A direct sale may not offer full price, but for some people, the amount saved on repairs and wasted time more than makes up for the difference in price.

List Your Home With An Experienced Agent

Of course, listing your New Jersey house is an option. Take the time to learn about everything that is involved and what will be expected of you. No two agents work exactly the same and there are no guarantees. Your property can be listed for any price, but there is no guarantee you will receive it. Watch out for agents who try to “wow” you with a high listing price. If it’s priced too high, it will likely sit on the market, possibly for months at a time. You will inevitably have to lower the price, while your property drops down the list of homes available on the MLS. If you decide to list, make sure your agent prices your home to sell. Not just setting a high price to convince you to sign a listing agreement.

Offer Seller Financing

This can work for some people who don’t need the cash from the home immediately. You can elect to carry the note setting up a “rent-to-own” structure. Your tenant will “rent” the property at a higher than average price, with some of the money going toward a down payment on the home. They will then have the option to buy the property outright at the end of a certain period of time, typically around 2 years.

Consider Your Other Options

If selling simply isn’t in the cards and you need to move, there are other options. You can rent the house out as either a short- or long-term rental. The trouble with this can be finding great tenants and retaining them for as long as possible. Renters can be quite nomadic, and tenant turnover can cost you dearly. If you haven’t done this in the past, consider hiring a property manager to help you keep everything in order.

Do you want to sell your house in New Jersey? Find out what we can do for you! Give us a call today! (908) 456-1593

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.


January 23rd, 2023 1:42 AM

A majority of our business comes from repeat clients and referrals. Please keep us in mind for any of your friends or associates who may be in need of appraisal services. We promise to show them our commitment to unrivaled customer service and fast, accurate appraisals.

Tight & Right Real Estate Valuation
Cardwell Thaxton, New Jersey
(908) 456-1593
CardwellThaxton@gmail.com


#appraiser #realestateappraiser #realestateappraisal #Moneyneversleeps #nareb #businesspassion #realtors #divorce #realestatelife #houses #property #newjerseyrealestate #foreclosures #realestateconsultant #GardenState #NewJersey



At the appraisal stage of the buying process, your borrowers are generally feeling anxiety over the home's value. When you order an appraisal from Tight & Right Real Estate Valuation, you can rest assured that you and your borrowers will get the best in professional service, courtesy, and quality.

Tight And Right Real Estate Valuation
Cardwell Thaxton, New Jersey
(908) 456-1593
CardwellThaxton@gmail.com


#appraiser #realestateappraiser #realestateappraisal #Moneyneversleeps #nareb #businesspassion #realtors #divorce #realestatelife #houses #property #newjerseyrealestate #foreclosures #realestateconsultant #GardenState #NewJersey



What New Jersey Home Sellers Should Know About the Current Real Estate Market? There are many stages in life where the mindset of temporary housing or a rental phase makes sense. However, New Jersey home sellers should know that while it would have previously been the norm, these people are now more focused on finding permanent housing situations and increasing the number of buyers competing for homes in the real estate market New Jersey. Part of this drive may be due to many company’s business models rolling over into home-based work. Another phenomenon that has come to light, more wealthy investors are updating their investment plans to move with the market, making their second home purchases for retirement earlier than previously planned, increasing the shortage of available properties on the market. 

Riding the Wave

Like a wave still rolling from the 2008 national trend of slowing new housing production, the backlog of completed units has yet to be met, let alone the surge in demand that has emerged since the pandemic. Low-interest rates are also pushing buyers into the market that may not have otherwise been able to afford as much housing. There is also a migration of buyers from high-tax states brought on by changes in federal tax guidelines, which means they can no longer write off their property taxes. 

The National Association of Realtors reported in October of 2022 that there were fewer homes for sale now than ever. If no other homes were listed on the market starting now, there is just over a two-month supply of inventory available. There has also been a stall in the number of homes listed by sellers that would typically be making an upward move in housing, such as moving up from a starter home. Many homeowners choose to stay in place to see how they are involved and settle out before risking what they have in place. These factors have combined to create an epic seller’s market, with the surge in demand and shortage of housing units available, causing prices to soar. Read on to discover what New Jersey home sellers should know about the real estate market in New Jersey.

The Trouble With Bidding Wars

While a seller’s market may sound like a perfect scenario, New Jersey home sellers should know that bidding wars affect the real estate market in New Jersey. The problem comes when buyers bid above the amount the home will appraise while remaining below the typical 80 percent of the loan to value the mortgage. There is a potential to lose your buyers, should they find themselves in a bidding war. They may not have the finances to afford the higher monthly payments and a higher principle, let alone the additional cost of mortgage insurance. And may not have enough cash on hand to cover any shortage between the appraisal and the final purchase price.

What Goes Up Must Come Down

All good things come to an end. Housing prices had already begun to trend upward before the pandemic and continue to rise. Under the current conditions, most first-time homebuyers facing the rapid jump in listing prices cannot afford the average home. New Jersey home sellers should be acutely aware that the current rising price trend on the real estate market in New Jersey cannot continue indefinitely, and the real estate market may crash. Indicators are that foreclosures, which are on hold now, will rise among lower-income households. Around 2.75 million mortgages are in forbearance under the CARES act’s protection at this time, with approximately 10 percent of all FHA-backed mortgages more than three months behind on payments. 

Avoiding the Risks of Selling

Avoiding selling for too long may mean that sellers miss out on this rare opportunity to strike while the market is at or near its peak. When it comes to traditional listings, a significant number of people simply do not want to take the risks of meeting with strangers to negotiate or do business. Many would prefer not to have showings during the pandemic because of potentially ill buyers walking through their homes. With stress already at an all-time high for many, the mere thought of the additional pressures of selling a home, especially when school and work are home-based, is too much to consider. New Jersey home sellers should know that there is another way to sell their home on the real estate market in New Jersey, by selling to a direct buyer like The Cardwell Thaxton Group.

Ready to learn more about what New Jersey home sellers should know about the real estate market in New Jersey? At The Cardwell Thaxton Group, we are here to listen and help you handle all of your problems. With fair prices, straightforward easy to understand contracts, and quick closings. Working with The Cardwell Thaxton Group means there’s no need to delay selling any longer! The Cardwell Thaxton Group will walk you step by step through the process and help you determine what is best for you!  Contact us now at The Cardwell Thaxton Group at (908) 456-1593 today!

STEP 1

Contact Us

We research the details of your home and start crafting a great offer for you.

STEP 2

Get Your Offer

We present you with a fair cash offer with no obligation and no fees.

STEP 3

Get Paid

Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.



Open houses are a lot of work and they take up a lot of your time! You can make them more worthwhile with an appraisal from Tight & Right Real Estate Valuation to give your prospects a solid, credible estimate of value. You'll benefit from having more qualified buyers to follow up with after the open house, and your sellers will be more assured of their asking price.

Contact Tight & Right Real Estate Valuation and well spring into action with unparalleled service. Your sellers will be impressed with your thorough strategy and well deliver a professional report in time for your next open house.

Tight And Right Real Estate Valuation
Cardwell Thaxton, New Jersey
(908) 456-1593
CardwellThaxton@gmail.com


#appraiser #realestateappraiser #realestateappraisal #Moneyneversleeps #nareb #businesspassion #realtors #divorce #realestatelife #houses #property #newjerseyrealestate #foreclosures #realestateconsultant #GardenState #NewJersey

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