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Lesser Known Yet Extremely Important Home Selling Tips

September 7, 2018 by Scott Gleason

Are you considering putting your home up for sale? As we head into fall, the ways to market it may change slightly from how you would have marketed your Westfield home in the summer. We all understand how important curb appeal can be to lure in potential buyers. Proper home staging is also crucial to a successful sale. And, of course, you want to hire the best Westfield REALTOR® to take care of all of your needs. But there are a few lesser known yet extremely important home selling tips you should also focus on.

We all know the more popular home selling tips (cleaning, decluttering, staging, hiring a good real estate agent, etc). Keep these lesser known yet equally as important tasks on your mind as well for a successful home sale.

Home Selling Tips: Tasks You Need to Do Right Now

Market to Millennials

Click here for an instant "No Strings Attached" valuation of your home.

Click here for an instant “No Strings Attached” valuation of your home.

The first of my home selling tips is to pay attention to millennials. Buyers ages 20 to 37 made up more than one-third of the real estate market across the country last year. So, don’t overlook the importance of marketing to millennials. Highlight any smart-home features on your property, including thermostats, security systems, energy-efficient appliances, and wireless networks. Buyers of all ages search these amenities out. But millennials list them as a top priority by far. Therefore, it makes sense to feature them prominently in any marketing materials. Also, make sure your REALTOR® uses social media as part of your promotional campaign.

Make Repairs Both Big and Small

Most of today’s Westfield buyers want a move-in ready home. Another one of my home selling tips you should remember is to repair or replace whatever doesn’t work correctly. You may think the small scratches on your hardwood floors give them character. And maybe you never got around to fixing the doorbell because knocking seems so much less intrusive. Buyers, on the other hand, don’t feel the same. Also, you want to make sure all of your electrical and plumbing systems work properly. Consider hiring a professional to conduct a home inspection. An inspector can point out potential problems. This gives you the opportunity to fix them before a buyer even knows about it. Every repair you decide to avoid making could cost you big discounts on your final sale price.

Hire a Pro for Photos

I cannot emphasize this enough. Good photographs are important. More than 80% of buyers start their home searches online. Therefore, hiring a professional to take photographs of your Westfield home sits pretty high on my home selling tips list as well. After your home has been staged, schedule a pro to come out and photograph it. They know the right angles and lighting techniques to use to truly make your house shine. You might even want to consider hiring a professional videographer to create a custom video tour of your property to use in marketing materials as well.

Prepare to be Seen

While photographs and videos are nice, they don’t compare to an actual physical tour. It’s rare for a buyer to purchase a property sight unseen. At some point, you will have people walking through your Westfield home. That means that you need to prepare for both open houses and private showings. Move all of your valuables, including jewelry, fine art, family heirlooms and even medication to a valuable location. Buyers look through cabinets, drawers, and closets. Simply tucking them out of sight might not be enough. Lock them up in a floor or wall safe. Ask a friend or family member to hold onto them for you. Or, take them with you when you leave during a showing. And it doesn’t hurt to put out some refreshments to welcome your guests.

Pet-Proof Your Property

Finally, one of the lesser known yet extremely important home selling tips you should heed is to pet-proof your property. Almost 70% of US homes contain at least one pet. Even so, buyers don’t want to be confronted with the sights or, worse yet, smells of an animal living in the house. Clean out the litter box daily and right before a showing. Do the same for your yard if you own dogs. Vacuum up pet hair regularly. Store pet toys, bowls, leashes, etc. out of sight before a showing, too. Deep clean carpets, drapes and upholstery to get rid of any lingering smells.

Add these home selling tips to your other list of tasks to complete for a successful Westfield home sale. When you’re ready to put your home on the market, contact me.

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

Filed Under: Westfield Seller Tips Tagged With: home selling tips, luxury westfield real estate, westfield home, westfield home sellers, westfield homeowners

Westfield Homeowners: Home Equity Debt vs Acquisition Debt

March 16, 2018 by Scott Gleason

As the deadline to file taxes looms near, Westfield homeowners look for ways to alleviate some of their tax burdens. Westfield home values have steadily risen over the last few years. Many Westfield homeowners took out a home equity loan for various projects and expenses. Did you? If so, you might be able to write off the interest paid on that loan. However, you’ll need to know the difference between home equity debt and acquisition debt first. The IRS treats these loans very differently.

For Westfield homeowners, when it comes to mortgage interest deduction, home equity loans are not all created equal. You need to know the difference between home equity debt and acquisition debt. Interest on one is deductible while the other is not.

Home Equity Debt vs Acquisition Debt

Home Equity Debt

Westfield NJ luxury homes for sale

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When home values go up, Westfield homeowners utilize their newfound equity for a wide variety of reasons. One of your kids started college. Another one’s getting married. You want to take a once-in-a-lifetime vacation. You’re interested in starting a new business. All of these require money to finance. When you use money from your home equity loan or home equity line of credit (HELOC) for any of these, the interest you pay is not tax deductible. This is also true when you refinance. Let’s say your mortgage loan balance is $500,000. You decide to refinance your loan for $575,000 and use the extra $75,000 for one of the situations described above. The interest paid on that $75,000 cannot be deducted from your taxes.

Acquisition Debt

On the other hand, interest paid on acquisition debt can be tax deductible. Need to renovate your kitchen to bring it into the 21st century? Want to build a swimming pool in the backyard? Interested in adding a mother-in-law suite to your home? Use your home’s equity to increase your home’s value. That’s acquisition debt. Anytime you use your equity to improve your Westfield home, you can write off some if not all of the interest. In 2017, interest paid on up to $1.1 million in combined mortgage debt was deductible. The new tax law for 2018 lowers that limit to $750,000. That includes both your initial mortgage and your equity loan.

I am not a tax expert. You’ll need to discuss your options with your CPA, accountant, or tax attorney before filing. They should be able to guide you in the right direction.

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

Filed Under: Westfield NJ Real Estate Tagged With: home equity debt vs acquisition debt, home equity loan taxes, homeowner tax deductions, Homeowner Tips, luxury nj homes, westfield homeowners, westfield real estate

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Meet Scott Gleason - Westfield NJ Real Estate

Scott Gleason

Luxury Homes for Sale in Westfield, New Jersey

Coldwell Banker Realty - East

Westfield Area Luxury Homes

209 Central Avenue
Westfield, NJ 07090
908-233-5555 Office
908-698-2630 Mobile/Direct
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Scott Gleason

Coldwell Banker - East

Luxury Homes for Sale

in Westfield, New Jersey

908-233-5555 Office
908-698-2630 Mobile/Direct

Send an Email to Scott

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