South Jersey is currently experiencing a Seller’s Market. At Nancy Kowalik Real Estate Group, our Happy Sellers are getting 100% of asking price OR MORE for homes that are priced right and project free!
A seller’s market is one in which there are more buyers than homes for sale. Since supply is less than demand, inventory is low, homes that are priced right are getting more than appraised value. For example, I just sold a home in the $300,000 price range that got $25,000 more than asking price and appraised value!
South Jersey Project Free Homes Are Getting Top Dollar!
Specifically, we are seeing TOP DOLLAR for homes in South Jersey that are “Project Free.” What does that mean? Project Free homes are homes that are move in ready and finished to perfection. When a home is project free the only thing the homebuyers need to do is bring their toothbrush and throw a party.”
2020 has rocked our worlds with something we never expected or experienced; a pandemic and the Nationwide Lockdown. This forced most of us to stay at home, all the time. We learned the value of having a functional home, as our lives were fixed at homes and our roles changed drastically. Parents became teachers, home was the workplace, it was the classroom and the recreation place. Being comfortable while functioning at home has become more important than ever.
Buyers want more bang for their buck, and would rather pay the money up front, than buy a home that needed updating or finishing. Today’s homes have to function as offices, classrooms, playrooms and entertainment spaces. Home offices, finished basements, backyard oases, man caves and she sheds are becoming necessary for life to be comfortably functional and productive.
What are buyers looking for? Let’s take a look at some home improvements that can make your home more valuable:
Your home’s curb appeal is their first impression of the home from the outside looking in. Curb appeal is especially important in getting buyers attention and making them want to see more. Manicured landscaping, fresh paint on garage doors, shutters and trim and pressure washing the concrete and siding are all great ways to improve your home’s curb appeal. Fresh mulch, landscape lighting, hardscaped flower beds, and a freshly mowed lawn always make a great first impression!
An Updated Kitchen:
The kitchen is the hub of the household and is one of the most important rooms in the home. Having an updated kitchen is necessary to receive top dollar for your home.
A Home Office:
Home offices. More and more we are working from home. A home office makes working at home more convenient. Having a room with a door that can shut out the noise of the rest of the home to allow you to concentrate on work is a must, especially when you have younger children.
A Finished Basement is always a plus for a home. Having additional living space allows for recreational rooms, game rooms, bars, theatre rooms, playrooms, home gyms and man caves.
Here’s an example of an amazing finished basement:
Decks and Patios:
Decks and patios add additional outdoor living space to your home. Having a deck and/or a patio will increase the value of your home.
Install hardwood floors or better yet, refinish your existing ones. The National Association of Realtors says refinishing hardwood floors recovers 100 percent of the cost at resale; new wood flooring recoups 91 percent of costs.
Privacy is priceless and adds great value to your home. If you don’t have a naturally private location, you can create one by installing a privacy fence or planting privacy landscaping. Arborvitae are great trees for creating privacy. Buyers love yards with privacy!
Fresh Neutral Paint:
Having a fresh coat of neutral paint is always appealing to the homebuyer. Light, neutral wall colors make for a good palette for resale because buyers can easily imagine their belongings in the space. It could add thousands of dollars to the value of the home with a minimal investment. You may love your periwinkle walls, but the majority of homebuyers won’t like it and will not want to have to pay full price or more for a home they have to paint.
Buyers will look at your kitchens and baths and either be relieved that they don’t have to gut them or start counting up the dollar signs. You don’t have to break the bank with a costly upgrade, either.
Replacing the roof, septic or HVAC are major projects that no buyer wants to take on AND pay top dollar. These major updates should be considered when pricing your home.
Home Improvement Rankings:
Here’s a graph from Homelight with data from the National Association of Realtors on the Hottest Home Improvements for 2020 and the average Return of Investment for the project.
Thinking of Selling Your Home?
If you’re thinking of selling your home, give us a call at 856-478-6562. We’ll do a free home valuation and tell you the true market value of your home.
Click this link to contact us via our online application: https://homes.southjerseyteam.com/idx/homevaluation
At Nancy Kowalik Real Estate Group we have a database full of buyers looking to move to South Jersey. Let us guide you to getting your home sold for Top Dollar and with the best terms that suit your needs!
Nancy Kowalik Real Estate Group Is An Inc 5000 Honoree
- Nancy Kowalik Real Estate Group Ranks No. 3369 on the 2020 Inc. 5000 With Three-Year Revenue Growth of 112 Percent
NEW YORK, August 12, 2020 – Inc. magazine today revealed that Nancy Kowalik Real Estate Group is No. 3369 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists as well. The 2020 Inc. 5000 achieved an incredible three-year average growth of over 500 percent, and a median rate of 165 percent. The Inc. 5000’s aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are also being featured in the September issue of Inc., available on newsstands August 18.
“The companies on this year’s Inc. 5000 come from nearly every realm of business,” says Inc. editor-in-chief Scott Omelianuk. “From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism.”
The annual Inc. 5000 event honoring the companies on the list will be held virtually from October 23 to 27, 2020. As always, speakers will include some of the greatest innovators and business leaders of our generation.
More about Inc. and the Inc. 5000
The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
Nancy Kowalik is a featured expert in South Jersey Magazine.
Read the digital article here:
Emerging Luxury Market in South Jersey- South Jersey Magazine