R/NJ - January 2025

R/NJ

If you are a Reddit fanatic like most of my family, R/New Jersey is endlessly entertaining. Jerseyans are a funny bunch. The subreddit is laden with complain-y natives who grumble about the state of the state: home prices, pork roll v. Taylor ham, left lane drivers going 55 mph. Yet they all pledge their allegiance to the great Garden State. The Moving Back to NJ thread is a masterclass in using the FBomb: as a noun, verb, adverb and adjective, all the while welcoming back returning residents, warning them to stay out of the left lane until they reacclimate to our highway’s warp speed, but most of all, waxing poetic about their home state.

Why bring this up? Because Jersey residents stick around, and their home decor often tells the tale. My parents bought their home with plans to move back to NYC once us kids finished high school... three decades ago. They still think their house was "recently renovated"—back in 2005. This is not to say that the homes are decrepit, most are well cared for, so as a buyer you must be prepared to have a little vision. For sellers looking to capitalize on their property, fresh paint and updated light fixtures do wonders. In either scenario, keep in in mind that updating versus renovating are totally different undertakings and costs.

Homes have already started to trickle on to the market and demand continues to be strong. Last week’s North Mountain was very popular with 14 offers and Godfrey had 11 offers (despite needing AC, gas heat conversion and a good paint job. The Maplewood listings were all busy with the most desirable ones already accepting offers and under contract within the week. Its going to be a fizzy spring!

Whether you are buying or plan to sell, to prepare you for the season I have created collections for 2024's 3rd and 4th quarter SOLD homes for the most requested towns: Bloomfield, Glen Ridge, Maplewood, Montclair and South Orange. For buyers, this will guide you on home pricing for the upcoming season (estimate 2%-3% higher since fall). Sellers, if you are considering listing, you can compare your home to the sold listings and gauge value.

Please Welcome!

Jen Casey brings her finance and communication expertise to the Meredith Bergmann Homes Team

Jen brings a fresh perspective to the Meredith Bergmann Compass. With 15+ years of financial services communications experience at firms including  AllianceBernstein, Barclays and JPMorgan Chase, Jen has honed her skills in clear communication, marketing, and attention to detail. Her background gives her a unique edge in negotiating and explaining complex processes with clarity.

As our newest sales associate serving Essex County focusing on Maplewood and the Oranges, Jen combines her passion for home design with a dedication to helping clients find their perfect property. Whether you're a first-time homebuyer or looking to sell your current home, her keen eye for design and staging, coupled with her ability to truly listen to clients' needs, makes her an invaluable asset throughout the process. When not helping clients, you'll find Jen exploring her local thrift stores, running after her very active toddler, or diving into DIY projects. We know she's going to be an integral member of the Compass Family!

Home Improvement

Small Upgrades = Big Payoffs

Fresh paint, new carpet and fan transformed this Cape in West Orange

The same home added new shutters, exterior light fixture and landscaping

You heard about the big payoffs for your neighbor’s home sale, so when you are thinking of putting your own home on the market to cash in, make sure you are comparing apples to apples. If your home needs some love, but your neighbor's house was just renovated a few years back, the payoff won’t be the same. But the good news is you DO NOT need to renovate to get great price. The Wall Street Journal article, ”If You Want to Sell Your House, Figure Out What to Renovate First," is a great resource. As freshening and updating is much less costly and invasive and results in a significant ROI.

“Replacing a garage door cost $4,513 on average in 2024, Replacing an entry door cost $2,355 on average and added $4,430 to resale. Minor exterior work is some of the most likely to pay off. mall-ticket items inside the house are worthwhile, too. Refinishing hardwood floors on a roughly 2,500 square foot home costs an estimated $3,400, but adds roughly $5,000.”

In my experience, fresh paint, replacing lighting fixtures with inexpensive but updated versions, swapping out bathroom vanities makes a dramatic difference. One overlooked project is landscaping, specifically to enhance privacy. It's crucial to emphasize this, as everyone desires and places a high value on privacy and a sense of seclusion. These projects are not very costly and can be done relatively quickly. They can also be financed using Compass’s Concierge program and I have terrific contractor referrals. I have helped countless clients prep homes to get to their ideal sale price, I'm happy to provide guidence.

And if you are a buyer, these improvements can have dramatic results. Remember this when you walk into a home that looks dated, it doesn't have to break the bank to change the look of a home.

Home Improvements "Don’t’s"

Not Every Improvement Brings Additional Value

Your house is your castle and if you want to make it into a castle, go forth, but be aware, don’t plan on selling and hoping others will appreciate and pay for your noble aspirations. There are a few projects that can affect the value of your home, and not always for the better. Architectural Digest's article, "Home Improvement Don'ts," may not be the last word on questionable renovations, and you may find that buyer who wanted a home office rather than a 4th bedroom on the second floor. But the tips are helpful primers when you are considering home projects and its potential affect on re-sale value.

Lunar New Year Celebrations

January 25, 2025

AAPI Lunar New Year at Montclair Art Museum

Celebrate the Year of the Snake with AAPI New Jersey at MAM, a symbol of wisdom and strength. Enjoy an afternoon filled with cultural performances such as K-pop dancers, Japanese and Korean drummers, Wushu performers, and the captivating face changer. Savor local Asian cuisine, engage in kid-friendly crafts, and explore a lively vendor marketplace.

Sponsored by SOMA Cross Cultural Works & Maplewood Arts & Culture, Lunar Fest NJ marks the arrival of spring and the start of a new year according to the lunisolar calendar. The snake symbolizes elegance, wisdom, and transformation, making this year an ideal time for personal growth, introspection, and goal reassessment. Celebrate with captivating performances and children activities showcasing Chinese, Korean, Japanese, and Southeast Asian cultures. Admission is FREE, and everyone is welcome.

Lifestyle Tips and Tricks

Sell Your House During the Winter Sweet Spot

A lot of people assume spring is the ideal time to sell a house. And sure, buyer demand usually picks up at that time of year. But here’s the catch: so does your competition because a lot of people put their homes on the market at the same time...

Courtesy of Keeping Current Matters

10 Tips for Finding the Right Place to Retire

You can live anywhere you want in retirement. So where should you go?

Courtesy of U.S. News

Sold Listings

Thanks for reading and subscribing! Ready to achieve your next real estate goal?

Meredith Bergmann

Lic. Sales Assoc.

Principal Agent

M: 917.355.4074

O: 973.310.7360

[email protected]