Ben Garrison Real Estate Podcast

Clients are always asking me when the right time to buy is. Clearly, we all want to buy when the market is low and sell when it’s high in order to get a great return. Alas, it’s impossible to time the market to perfection, so here are the two things I think are important above all else when buying a home. The first thing is quality of life. If you can find a home that is in your budget, with a community that fits your needs, go for it. That’s the reason you’re buying, right? I bought a home in 2004, but when value decreased immensely with the 2008 market crash, it didn’t bother me. Why? Because I wouldn’t have changed a thing. The quality of life I have enjoyed there raising my family has been incredible. Not to mention the fact that its value has finally recovered from the fall. “Homes are as affordable as they have ever been.” The other thing is affordability. Right now, homes are as affordable as they have ever been with our historically low interest rates. A rate of 3.75% is a far cry from the 9% we saw earlier this year, or even the 6% average we had earlier in the decade. Rates can’t really get any lower from here, so we know they are going up. By locking in a rate now before they go up, you could end up saving tens of thousands of dollars on your mortgage in the long run. If you are thinking about buying a home, now is a great time to do so. If you have any questions for me about the market or about your particular situation, give me a call or send me an email. I would love to hear from you.

Whenever people ask me how the current real estate market is, I tell them that the straight-board answer really depends on which town you live in or which town you’re looking to buy in. That being said, all the New Jersey towns with direct train access to New York City generally are in a really strong market right now. In Maplewood, sales are currently running about 10% ahead of where they were this time last year. Inventory is about 40% lower than it was this time last year. Our current inventory—which is the amount of time it would take to sell all the listings on the market—is about 1.9 months. This basically translates into a strong seller’s market. “Sales are up and inventory is down compared to this time last year.” If you’re looking to sell your home, then now is a great time to do it. If you’re looking to buy a home, there are still some really great homes out there for you. The key is to educate yourself about the market so when you find that home you love, you can act decisively about it. If you have any questions, please contact me directly by phone or email. I’d be glad to help you with all your real estate needs!

I wanted to take a few minutes today to welcome you to my new YouTube channel. Some of the things you can expect from my videos are great sellers tips, buyer tips, listing videos, and real estate market updates. I really want this channel to be a great resource for all your real estate needs. If you’d like to know more about a specific topic, let me know and I’ll make a video about it. Until then, please feel free to look around and peruse. Have a great day!