Local Events • August 12, 2022

New Westfield Artist Alley Submissions Now Accepted

by Scott Gleason

Westfield loves the arts in all of their forms. Visit any one of the dozens of galleries in the downtown area to see artwork of all kinds (paintings, pottery, photography, etc.). Sweet Sounds Downtown offers four different live concerts every Tuesday through the end of August. And right now, the Westfield Public Arts Commission is accepting submissions from local artists to create an Artist Alley right in the heart of downtown Westfield.

New Westfield Artist Alley

The WPAC wants to create a permanent public installation in downtown Westfield. But they need talented artists to submit their ideas. Westfield’s brand new Artist Alley will be set up on the side of the old Rialto theatre connecting Broad St. to the parking lot. They wish to see both 2D and 3D works of art (mosaics and wall sculptures) added to the wall. Each artist will be recognized for their individual work.

Anyone interested in participating in Artist Alley may email their full-color submissions to the WPAC. All submissions must be received by the end of the day on August 22nd to be considered.

New Life at the Old Rialto Theatre

The Rialto, a local landmark since 1922, closed its doors rather suddenly back in 2019. After much dispute between the owners, it reopened late last year as the Center for Creativity at the Rialto. Here, they wish to foster creativity in literature, film, live performances, and art. They also want to preserve a bit of Westfield’s past by keeping the Rialto building alive and well for future generations to enjoy.

Less than 20 towns in the entire state have kept old movie palaces like the Rialto alive. One of those towns just happens to be our very own Westfield. Support the arts and history by supporting public installations like Artist Alley. Thank you.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Home Buyers • July 29, 2022

Escalation Clause: Help for the Home Buyer in a Competitive Market

by Scott Gleason

Many buyers wonder if they should wait a little bit before actively searching for their next property. Price reductions all over the country leave buyers wondering if the market already reached its peak. If prices are on the decline, it may seem logical to wait. But in hot areas like Westfield, Scotch Plains, Cranford, and many of the surrounding areas, sellers still rule the market. So, you may find yourself in a bidding war with other buyers for a property. That means that you need to make your offer stand out. How? An escalation clause could be just the ticket to capturing a seller’s attention.

How an Escalation Clause Can Help a Buyer Make Their Offer Stick

What is an Escalation Clause?

In a regular offer, the buyer agrees to pay X dollars for the home in question. When they include an escalation clause, they propose paying an additional dollar amount over another seller’s higher offer up to a definitive amount. For example, the seller lists the price at $600,000. You put in an offer for $610,000. Your REALTOR® did their due diligence and knows that another offer is already on the table. While the seller’s agent may not disclose how the current highest offer is, they do say it is higher than that. So, you include an escalator that says you are willing to pay $5,000 more than the highest offer up to $625,000. The other offer is $615,000. Then, your new offer automatically goes to $620,000. The seller accepts your offer with the escalator and escrow opens up.

When Should You Include It in Your Offer?

An escalation clause should only be used when you are fairly certain you may find yourself in a bidding war. However, doing so lets the seller know exactly how much you are willing to pay for their home. That leaves you a bit vulnerable when it comes to negotiating. The seller may even decide to counter the escalator with a higher price, knowing how high you are willing to go.

Always discuss this option with your REALTOR® before submitting your offer to the seller. They can use their resources to find out whether this is a good idea or not.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Selling Your Home • July 22, 2022

Home Appraisal: Does Extra Clean Add Extra Value?

by Scott Gleason

Whenever a buyer finances their purchase with a mortgage loan, the lender requires a home appraisal. If the property’s appraised value falls below the agreed-upon price, your sale may fall through. So, as the seller, you want to make sure your property is in tip-top shape before the appraiser comes through. Once you get into the escrow phase of the sale, you need to go through your home once again to ensure it looks great for the appraiser. That includes cleaning it until everything sparkles.

Home Appraisal: Does Extra Clean Add Extra Value?

Bottom line? No, cleanliness technically does not affect your appraised value. However, a spotless home creates a mindset with the appraiser similar to the one it creates with a buyer. Starting off with a positive impression never hurts. Plus, it makes the appraiser (even subconsciously) think that the homeowner kept up with the property’s maintenance.

Put in the Elbow Grease

Always, always, always clean both the interior and exterior of your property before a home appraisal. That means cleaning windows, deep cleaning carpet, mopping floors, scrubbing countertops, etc. Clear the clutter. Put away toys and clothes. Make the beds. Take out the trash. Touch up paint where needed. You make an appraiser’s job easier by allowing clear access to all areas of your home. By making their job easier, it puts them in a better frame of mind. While this should not affect your home’s value, we do tend to see higher numbers for cleaner homes.

List Your Updates/Upgrades

During a home appraisal, the homeowner and/or their representative are allowed to be present. But hovering over the appraiser may agitate them. You do not want that to happen. However, you can make it easier for the appraiser by providing a list of all updates/upgrades you performed on your property, especially those that are not easily seen. That includes upgrades/repairs to the plumbing, roof, irrigation, or HVAC system.

The Way to an Appraiser’s Heart…

…is through their stomach? Well, not really. Nevertheless, providing a nice snack and beverage can only help. When they grab for a cookie and a cold bottle of water, make sure to provide them with a list of comps in the neighborhood. Yes. Running comps is part of the appraisal process. Yet, some recent comps may not show up. Your REALTOR® can make sure to print off the most up-to-date list just before the scheduled home appraisal so that it is handy. Again, this makes the appraiser’s job a little easier.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Home Buyers • July 15, 2022

Home Buying Tips to Finalize a Sale Now

by Scott Gleason

Today’s home buyers must navigate a crazy market. In the Westfield area (including Scotch Plains, Mountainside, Cranford, and the surrounding area), the marketplace strongly favors the seller. Low inventory and rising interest rates made many buyers re-evaluate their home buying budgets. If you want to finalize a sale before interest rates go up again, you may want to consider implementing these home buying tips right away.

Home Buying Tips to Finalize a Sale Now

Hire a Great REALTOR®

How do you know your REALTOR® is great? Find one with plenty of experience in the local market you want to make your home.

There is No Such Thing as a Stupid Question

Also, there is no such thing as asking too many questions. Whether your REALTOR® or your lender, anytime a question pops in your head about the home buying process, talk to them. An informed home buyer is a successful home buyer. Plus, this helps set you up to put in an offer right away when you find the perfect Westfield area home. And in a seller’s market, you have no time to spare.

Pre-Approval is Key

When you submit your offer letter, you need to include a pre-approval letter with it. Otherwise, sellers may not even bother looking at your offer. Pre-qualification is not enough anymore. Better yet, get your loan to the pre-underwriting stage, if possible. That is when your loan has gone through all of the steps except the final approval. At that point, all you need is an address, a sale price, and an appraisal that meets the lender’s requirements to finalize the financial portion of your home sale. The pre-approval process takes time. So, the sooner you start it, the better. I suggest doing this before you even start looking at homes.

Narrow Your Focus

First, determine which features your home absolutely must have. Then, ask your REALTOR® if these realistically fit within your budget and communities of interest. If you cannot find a home that fits these criteria, you might want to re-evaluate it. But the more you focus only on properties that fit within your “must” list, the less distracted you become on other homes.

Make a Strong First Impression

Finally, make sure you submit a strong first offer. A low-ball offer not only insults a seller but might stop them from even countering it. If you find yourself in a bidding war, setting your “best and final” offer on the table eliminates the back and forth of negotiating. Sometimes, this means the highest price. Sometimes it means a larger down payment and earnest money deposit. Other times, the seller may have a specific time frame they need to close in. Your REALTOR® can use their expertise and influence to dig up the information you need to craft your best offer possible to make a deal happen now.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Local Events • July 8, 2022

Sweet Sounds Downtown Westfield Music Festival 2022

by Scott Gleason

Every summer, downtown Westfield fills up with the sweet, sweet sounds of live music. This summer proves no exception. Last week, the Sweet Sounds Downtown Westfield Music Festival 2022 kicked off with some classic Jazz, Big Band music, and a rock cover band called the Drop the Needle Trio. But that was only the beginning of a whole summer of fantastic concerts to scintillate your eardrums and bring a smile to your lips.

What: Sweet Sounds Downtown Westfield Music Festival 2022
Where: Four locations around Downtown Westfield
When: Every Tuesday from 7 am to 9 pm throughout July & August
Cost: Free
Contact: Westfield Town Hall (908) 789-4040 or via email

Sweet Sounds Downtown Westfield Music Festival 2022

The Sweet Sounds Downtown Westfield Music Festival takes place around the downtown area every Tuesday from 7 pm to 9 pm throughout July and August. In the past, three different acts were performed on three different stages around downtown Westfield. But organizers wanted to bring a little extra harmony this year. So, they included a fourth stage.

Stage A – Central Ave Stage (137 Central Ave)
Stage B – Quimby St/Elm St Stage (125 Quimby St)
Stage C – Foundation Park Stage (439 South Ave W)
Stage D – Evalyn Dunn Gallery Annex (331 W Broad St)

In case it rains on a random Tuesday in July or August, that week’s concerts will be performed on Wednesday of that week instead. So, do a little shopping, grab a bite to eat, and take in a free live concert for dessert during the Sweet Sounds Downtown Westfield Music Festival.

Sweet Sounds Line-Up

July 12th: (A) Carrie Jackson (Jazz), (B) Big Bruce & The Messengers (Motown/R&B), (C) Radio Star (rock music)

July 19th: (A) Bradford Hayes (Jazz), (B) Glenn Alexander & Shadowland (Jazz Rock), (C) Valencia Music School (Rock)

July 26th: (A) The Joe Taino Group (Latin Jazz), (B) Kolor Blynd Band (R&B), (C) Free Speech (Jazz)

August 2nd: (A) Don Braden/Karl Latham Big Fun(k) (Jazz), (B) The Wag (Rock), (C) Higher Ground (Rock)

August 9th: (A) Charlie Apicella & Iron City (Jazz), (B) Thos Shipley (Jazz vocals), (C) Better Late (Rock)

August 16th: (A) Gordon James (Jazz), (B) Soul Seduction (R&B), (C) Little Secret (Americana)

August 23rd: (A) Mauricio de Souza (Latin Jazz), (B) Elena & Boo Demolition String Band (Country/Bluegrass), (C) NJ Workshop for the Arts (Jazz/Rock)

August 30th: (A) BD Lenz All-Stars (Funk/Motown), (B) Nikki Briar & The Sweet Briar Band (Country), (C) Save Mary (Rock)

Stage D Every Tuesday – NJ Youth Symphony

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Market Reports • June 17, 2022

June 2022 – Market Update

by Scott Gleason

Westfield NJ Real Estate Market Report - June 2022

Curious about your home’s value?

Please click below for the market update of interest to you:

Westfield by Grade School:

Scott Gleason scott@luxuryhomesnj.com

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Selling Your Home • May 22, 2022

How “Days on Market” May Affect Your Home Sale

by Scott Gleason

Most homebuyers look at the size of a property, its location, and the price right away. But, some buyers (as well as their REALTORS®) also look at how long the property has been on the market. Why? Newer listings get the most traffic. When it sits on the market for a while, buyers begin wondering what is wrong with it. Also, they believe the seller might be more willing to entertain a lower offer. Find out how the days on market can affect your home sale and what you can do to change it.

How “Days on Market” May Affect Your Home Sale

What are “Days on Market”?

“Days on market” (or DOM) are the number of days from when a property gets listed to when it enters a “pending” status. The average DOM varies from city to city. According to Redfin, Madison homes saw an average of 26 DOM in April 2022 while Short Hills homes spent 12 days on the market before changing over to pending. Lower DOM brings in the most interest. As the DOM grows longer, interest wanes. So, what do you do to bring back buyers’ interest?

Breathing Life Into a Stale Listing

Review Feedback – Whenever your home is shown (either through an open house or a private viewing), your agent should ask for feedback from the potential buyer and/or their representative. From this feedback, you can find out what overall impression your home gives. In turn, this provides a base from which you can build your property back up for future potential buyers.

Take it Off the Market Temporarily – Many areas allow you to withdraw your property from the market and resubmit it after a specific period of time as a new listing (typically about 30 days). In essence, this “resets” your DOM. Use your downtime to make necessary updates/repairs to freshen it up. Sometimes, this may be something as simple as a new coat of paint or trimming the landscape. Other times, you might need to replace all the flooring or renovate an area or two of the home.

Lower Your Price – A majority of the time, simply lowering the price (even slightly) triggers a reassessment of the property by buyers. It also opens your home up to a new tier of buyers that may have considered your property out of their price range before. However, consider this. If you take your home off the market and make some updates, you might be able to list it at your original asking price. Talk to your REALTOR® to determine which areas to invest your money in to bring about the best result.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Selling Your Home • May 13, 2022

The Real Estate Agent’s Role in a Home Sale

by Scott Gleason

Real estate shows like “Flip or Flop”, “Good Bones”, and “Unsellable Homes” make it appear easy to sell your home. All you need is a little paint and polish and buyers practically beat down your door, right? Not so fast. It takes a little more finesse and a lot more experience for the typical homeowner to sell their home. And that is where hiring a real estate agent comes into place.

The Real Estate Agent’s Role in a Home Sale

Setting the List Price

First of all, a good REALTOR® knows how to determine a proper list price. Why is this important? Because if you price it too high, it may turn buyers off. Even in a seller’s market, homes still need to be priced appropriately for the market. If you cannot get buyers through the door, your home will simply just sit there. Then, you will need to lower your list price to bring interest to your listing. This only delays finding a buyer and may even net you less than you would have received if you priced it properly to begin with.

How does a real estate agent decide the right list price? By conducting a comparative market analysis. They look at recently sold homes in your neighborhood. Then, they focus on the ones that are most comparable to yours in age, size, and amenities. In addition, they use their experience in the local market to come up with the amount that will bring you the most buyers and the best sale price.

Preparing Your Home for the Market

Another area where a REALTOR® comes in handy is getting your Westfield area home ready for the market. This includes staging your home and making any necessary repairs. They also know which areas you should focus your efforts on and which areas do not need attention at all. For example, always make sure your curb appeal is on point. But perhaps the slightly older appliances in the kitchen can remain or the paint on the walls is a perfectly acceptable color. After all, many home buyers replace appliances soon after they move in. And others may decide to paint the walls after their belongings are in the space. However, if the appliances are severely outdated or the paint color is too severe, you might want to change those up anyway.

Marketing Your Home

Selling a home takes time. With your busy life, do you really have time to hire a photographer, make flyers, host open houses, conduct private showings, make sure to blast it all over social media, and be present at inspections and/or the appraisal? Plus, real estate agents have access to the MLS which sends your listing into the hands of thousands of other real estate agents with buyers looking for a home just like yours.

Vetting Buyers

Finally, a real estate agent vets buyers for you. It is not enough to get buyers through the door. You want qualified buyers looking at your Westfield area home. Since an agent does not make any money unless the property sells, it works in their best interest as well as yours to eliminate the unqualified buyers.

When you are ready to list your home on the market, contact me. I can help you get it ready to list, market it for you, and get it sold as quickly as possible.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Selling Your Home • May 6, 2022

Misleading “Facts” for the Home Seller in Today’s Market

by Scott Gleason

Oftentimes, we hear fantastical stories about recently sold homes. Maybe your neighbor fielded several offers after only one day on the market. Or you heard about a friend of a friend who sold their rundown property for tens of thousands over their asking price without putting any effort into fixing it up. Unfortunately, these tend to be the exception rather than the rule. Yes, the Westfield area real estate market still favors the seller, according to Realtor.com. However, a home seller needs to keep an eye out for “fake news” when they put their property on the market. Otherwise, they might end up very disappointed.

Misleading “Facts” for the Home Seller in Today’s Market

You Don’t Need to Fix It Up

You may have heard that buyers will purchase a Westfield area home no matter what shape it is in. Unfortunately, that is untrue. Today’s buyer wants a move-in ready house over a “fixer-upper”. However, you do not need to break your budget trying to create a masterpiece. I cannot express how important a good cleaning is for the home seller. Even simple things like nice curb appeal, a fresh coat of paint, and minor repairs increase your premises’ attraction to buyers.

Buyers Will Pay Whatever You Ask

Just because you ask for it does not mean you will get it. You still need to price your home appropriately for the current market. That is where a good Westfield area REALTOR® comes in handy. They can run comps on recently sold homes in your area. This gives you an idea of what people are paying for properties like yours right now. If you price it too high, you end up sitting on the market for a while. You may even need to make a few downward adjustments to the price in order to entice a buyer, possibly selling it for less in the long run. A properly priced home at or even slightly below market value not only generates interest but might even bring in a higher price than you originally wanted.

Always Pick the Highest Priced Offer

Finally, if a home seller finds themselves receiving multiple offers, congratulations! Many sellers would love to be in that position. However, the highest offer is not necessarily the best offer. Other things that should factor strongly into your final decision should include the amount of the earnest money deposit, the strength of the buyer’s financing, and how many contingencies they place on the deal.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Selling Your Home • April 29, 2022

Decluttering Tips That Help Sell Your Home and Organize Your Move

by Scott Gleason

One of the top priorities when getting your Westfield area property ready to sell is to get rid of the clutter. This helps prepare your home for staging. Remember, staged homes sell faster and for more money than unstaged ones. However, clearing your space with intention performs double duty. How? Organizing your “stuff” not only clears the clutter but also helps you when it comes time to move. Use these decluttering tips when preparing to list your home for sale.

Decluttering Tips

Start Right Away

First, start the declutter process right away. It might surprise you how long it takes to go through personal items, memorabilia, etc. The sooner you begin, the less stressed you will feel about meeting your home listing deadline. Also, simply start in one room and work your way throughout the house so as not to feel more overwhelmed than necessary.

Sort

Another one of my helpful decluttering tips is to sort everything you come across into three separate piles: keep, donate, and trash. If you want, you can even make a “maybe” pile. Box these particular items up and include a detailed label. Then, if you find that you have not opened that box in six to twelve months, you may want to consider donating them.

Pack

Next, start packing. Clear bins work best because they make it easy to see the contents inside. However, cardboard boxes offer a cheaper alternative. When using cardboard boxes, make sure to clearly label which room it belongs in and what the box includes inside. That way your dishes do not end up in the bedroom and your clothes do not end up in the kitchen. Trust me. You’ll thank me later. Make sure to write the appropriate room on more than one side of the box in large letters for easy recognition.

Trash the Paper

Finally, get rid of all that unnecessary paper. Receipts. Magazines. Old bank statements. Junk mail. We tend to accumulate paper. Shred any personal or financial information to avoid identity theft. Recycle junk mail and envelopes. Magazines can either be tossed out or donated to libraries and retirement homes.

Perhaps the most important one of these decluttering tips is to just get started as soon as possible. Before you know it, your Westfield area home will be ready to show. Plus, you will already be well on your way to being ready to move out when it sells.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

New Westfield Artist Alley Submissions Now Accepted

Escalation Clause: Help for the Home Buyer in a Competitive Market

Home Appraisal: Does Extra Clean Add Extra Value?

Home Buying Tips to Finalize a Sale Now

Sweet Sounds Downtown Westfield Music Festival 2022

June 2022 – Market Update

How “Days on Market” May Affect Your Home Sale

How “Days on Market” May Affect Your Home Sale

What are “Days on Market”?

Breathing Life Into a Stale Listing

The Real Estate Agent’s Role in a Home Sale

The Real Estate Agent’s Role in a Home Sale

Setting the List Price

Preparing Your Home for the Market

Marketing Your Home

Vetting Buyers

Misleading “Facts” for the Home Seller in Today’s Market

Misleading “Facts” for the Home Seller in Today’s Market

You Don’t Need to Fix It Up

Buyers Will Pay Whatever You Ask

Always Pick the Highest Priced Offer

Decluttering Tips That Help Sell Your Home and Organize Your Move

Decluttering Tips

Start Right Away

Sort

Pack

Trash the Paper

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