Midtown Direct Real Estate News

Are you relocating to New Jersey with a paid relocation program? If so, many of the relocation companies will try to send you to real estate brokerages that they own. In many cases they will tell you that you have to use their real estate, and mortgage companies. However, you may have options. For example, a friend of mine recently relocated from Morristown, NJ with a full relocation program. He was told that he would have to use one their “preferred” (owned) real estate companies. However, after consulting with the relocation company and offering to pay them their required referral fee, I was able to sell my friends home without an issue. There was no impact to my friend other than he got excellent service from someone that he knew. 

1. Whether relocating with a paid relocation program or not, here are a few important items to consider as you choose where to live: Depending on your lifestyle, make sure you are looking in an area where you will feel most comfortable. If you like the city life, you might choose a more urban location with mass transportation into the city.   In New Jersey, there are many train lines that will take you into NYC. Buying a home near a train line will minimize any value depreciation and maximize appreciation.
2. Understand the value of properties around you and the trend of housing prices in the area.  Make sure you are not in an area where home prices are declining when prices in other areas are rising.  The good deal today may not be such a good deal in 3 years.
3. Get the right financing. Many individuals live in a house less than 5 years. In many situations a 5 year arm (adjustable rate mortgage) will have a lower interest rate than a 30 year fixed mortgage. If you are likely to move in 5 years or less, consider this option.
4. Whether you have kids or not, understand about the schools in the neighborhood. The likelihood is that the purchasers of your next home will have children and schools will be important to them. Areas with great schools attract buyers with families. Keep resale in mind.
5. Consider proximity to major metropolitan areas and public transit to them. If you live near public transit (train station or bus stop) to major metropolitan areas (such as NYC) it makes your home more valuable as individuals who would commute to those locations would have more choices.
6. Last, but most important, choose the right New Jersey REALTOR. If you are unhappy with the one you were working with, change! There are great REALTORS out there who will give you the best service!

These are just a few relocation tips. Good Luck and Happy House Hunting.

If you would like to take a look at homes currently for sale in Northern New Jersey stop by Morristown NJ Real Estate.  There you will find all the homes currently listed for sale in our MLS system for the Midtown Direct real estate markets.