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Celia Raposo, Montclair, NJ (2026)

06/21/2022

With the relatively low inventory of homes for sale these days, a move-in ready home can be hard to find, especially if you’re on a budget, which is why a fixer upper may be appealing if you are looking to get into a particular neighborhood or hot area. But before you start bargain hunting, you need to know what you're in for — renovations aren't as easy as they may look on TV.

What will it cost to purchase, how much will it cost to improve, and what will be the future return? With the right agent by your side, buying a fixer upper can be a great investment, but it's important that you are prepared and know what to expect.

➊ Think about true costs and the need (if any) to budget for big-ticket items before any minor cosmetic updates or changes — roof, mechanicals (HVAC, water heater), electrical or plumbing updates, and large kitchen, and bath upgrades. Always budget 10% more for unforeseen costs/repairs that may arise.

➋ Talk with your lender to choose the best mortgage product to help fund the renovations. Many lenders offer "renovation loans" where you can fund the home updates without having to have bulk cash set aside. With a renovation loan, you can pay off improvements over a longer period of time and at a lower interest rate than other types of financing or personal loans.

➌ Get a home inspection! It might sound obvious, but many homebuyers are waiving home inspections thinking that they could never get one. You can get a home inspection AFTER you purchase, or you can consider a "walk and talk" inspection during a showing. If you didn't get a full set of professional eyes on the property (contractor, engineer, electrician, plumber) then it would be a smart decision to get one for accurate budgeting and projections.

Move-in ready or a fixer-upper, I’m ready to hear what you’re looking for!

06/20/2022

ᴍᴏᴛɪᴠᴀᴛɪᴏɴᴀʟ ᴍᴏɴᴅᴀʏ ✨

Life is all about how we choose to look at things — a closed-door might lead to your next big (perhaps unexpected) opportunity. "Things" usually happen for a reason — and we have a choice in how we can experience our life and move forward with gratitude.

Too often we depend upon the validation or direction of another, that we lose sight of our own "True North." It's up to us in order to get closer to our destination. Sometimes we take a detour, but we can always get back on track. This is your reminder that you should open the door a little sooner and follow the desire... allow the closure and welcome the possibilities.

06/19/2022

𝙵𝚊𝚝𝚑𝚎𝚛𝚜: 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚎𝚛𝚜, 𝚊𝚍𝚟𝚎𝚗𝚝𝚞𝚛𝚎𝚛𝚜, 𝚑𝚊𝚗𝚍-𝚑𝚘𝚕𝚍𝚎𝚛𝚜, 𝚊𝚗𝚍 𝚝𝚎𝚊𝚌𝚑𝚎𝚛𝚜.

Happy Father's Day to all the dads who go above and beyond — enjoy your special day, and the first day of summer!

06/17/2022

The market we are experiencing right now requires three major things: 𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲, 𝗰𝗿𝗲𝗮𝘁𝗶𝘃𝗶𝘁𝘆, 𝗮𝗻𝗱 𝗰𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝗼𝗻 — you definitely need (and deserve) an agent who knows exactly what it takes to land the home of your dreams and to set yourself apart from the competition. A solid network, communication, and reputation matter!

Gone are the days when a deal was "easy" and it was just about a price and settlement date. This market is challenging, and it's important to have a wide range of education and access to tools and resources, strategies, and tactics... that's how you'll really be able to WIN in today's market.

If you'd like to learn how my buyers are securing homes and beating out 20+ offers (without overpaying), then send me a message. We can see if we are a good fit for each other and talk about ways to make it a reality for you this year or get you prepared for next. Ask me to send you a copy (always free) of my Homebuyer Guide!

#realestatelife

06/16/2022

June is National Homeownership Month: a time to recognize the importance of homeownership and its impact on the lives of families, neighborhoods, and the economy. For many, owning a home represents stability, financial success, and the opportunity to contribute to their community. Let's take a closer look at home homeownership affects our daily lives.

𝗛𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 & 𝘆𝗼𝘂 —
Homeownership provides families with a sense of emotional and financial stability and increases household wealth through equity and appreciation over time.

𝗛𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 & 𝘆𝗼𝘂𝗿 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 —
Homeownership plays a vital role in helping to build strong, stable communities. Not only does it benefit the community through taxes, but also through increased volunteerism and less crime.

𝗛𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 & 𝗼𝘂𝗿 𝗲𝗰𝗼𝗻𝗼𝗺𝘆 —
The housing market is a driving force in our economy, and homeownership contributes to our local and national economies through jobs, manufactured goods, construction, and more.

Homeownership is truly a way to build financial freedom, find greater satisfaction and happiness, and make a substantial impact on our economy. If becoming a homeowner is a part of your vision, let's connect and discuss your real estate goals and come up with a plan to start the home buying process.

06/15/2022

📣 𝗟𝗘𝗧'𝗦 𝗖𝗟𝗘𝗔𝗥 𝗧𝗛𝗘 𝗔𝗜𝗥 — "rising interest rates" does not always mean "falling prices", or at least, if you're looking at things from a long-term (strategic) perspective!

No doubt, we are experiencing an ever-changing market with rates in flux as the Fed tries to balance the market and battle inflation through various monetary policies. Just from this same time last year, rates are up almost 2.5% for a 30-year fixed-rate mortgage. And while rates have been on the rise for most of 2022, appreciation continues to remain with projections of 11% in 2022 and 3-4% in 2023.

"𝘐𝘧 𝘵𝘩𝘦 𝘤𝘰𝘴𝘵 𝘰𝘧 𝘣𝘰𝘳𝘳𝘰𝘸𝘪𝘯𝘨 𝘪𝘴 𝘩𝘪𝘨𝘩𝘦𝘳, 𝘵𝘩𝘦𝘯 𝘵𝘩𝘦𝘳𝘦 𝘴𝘩𝘰𝘶𝘭𝘥 𝘣𝘦 𝘭𝘦𝘴𝘴 𝘱𝘦𝘰𝘱𝘭𝘦 𝘣𝘰𝘳𝘳𝘰𝘸𝘪𝘯𝘨 ... 𝘥𝘦𝘤𝘳𝘦𝘢𝘴𝘪𝘯𝘨 𝘥𝘦𝘮𝘢𝘯𝘥 𝘢𝘯𝘥 𝘢𝘱𝘱𝘭𝘺𝘪𝘯𝘨 𝘱𝘳𝘦𝘴𝘴𝘶𝘳𝘦 𝘵𝘰𝘸𝘢𝘳𝘥𝘴 𝘭𝘰𝘸𝘦𝘳𝘪𝘯𝘨 𝘱𝘳𝘪𝘤𝘦𝘴." Your way of thinking isn't completely wrong ... it makes total sense to feel that way, but historically it's not accurate — there is not a complete inverse relationship between prices and rates.

Over the past 45 years, we've seen an average yearly appreciation of 5.1% — projections trending slightly downward from two years of double-digit increases. While the Fed continues to increase rates (potentially 10 more times) over the course of the next year, we should expect to see rates tick up and down along the way as it reacts to demand and the overall economy.

𝗕𝗼𝘁𝘁𝗼𝗺-𝗹𝗶𝗻𝗲: 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗿𝗮𝘁𝗲𝘀 𝗗𝗢 𝗮𝗳𝗳𝗲𝗰𝘁 𝗽𝗿𝗶𝗰𝗲𝘀, 𝗯𝘂𝘁 𝗻𝗼𝘁 𝗶𝗻 𝗮 𝘄𝗮𝘆 𝘄𝗲 𝗺𝗶𝗴𝗵𝘁 𝗲𝘅𝗽𝗲𝗰𝘁 — rates tend to decelerate appreciation, especially in today's market with buyer demand outpacing seller and builder inventory.

𝙿𝚘𝚗𝚍𝚎𝚛 𝚝𝚑𝚒𝚜: Post WWII through the early 80s, home prices increased steadily ... despite 30 years of rising rates (macroeconomics).

06/14/2022

Buying a home is an important milestone for anyone, but it can be intimidating when you’re not sure what to expect.

Here are 3 things you should do to prepare for the home buying process:

① 𝙳𝚎𝚝𝚎𝚛𝚖𝚒𝚗𝚎 𝚢𝚘𝚞𝚛 𝚏𝚒𝚗𝚊𝚗𝚌𝚒𝚊𝚕 𝚑𝚎𝚊𝚕𝚝𝚑 —
Get your finances & credit score on track. Figure out how much you will need/want to spend on a downpayment and closing costs, and how much you can afford to spend monthly. Don't forget to have an emergency savings fund set aside, and to budget for all of the utilities and typical upkeep,

② 𝙶𝚎𝚝 𝚙𝚛𝚎-𝚊𝚙𝚙𝚛𝚘𝚟𝚎𝚍 —
I've said it before and I will say it again. Make sure you get pre-approved BEFORE looking at homes! This is especially important in today's competitive housing market, and the way financing has changed (rates, grants, various loan programs). Do your research to find a good lender or ask your agent – this person will be handling the biggest purchase of your life, so don't just take the easy route and apply with an online lender (𝘤𝘰𝘶𝘨𝘩, 𝘳𝘰𝘤𝘬𝘦𝘵 𝘮𝘰𝘳𝘵𝘨𝘢𝘨𝘦, 𝘤𝘰𝘶𝘨𝘩).

③ 𝙵𝚒𝚗𝚍 𝚊 𝚁𝚎𝚊𝚕𝚝𝚘𝚛 𝚢𝚘𝚞 𝚝𝚛𝚞𝚜𝚝 —
Your agent will help guide you throughout the entire process and protect you during the sale, from sitting down to discuss what you're looking for in a home, to submitting an offer, negotiating repairs, handling all of the paperwork, and being there when you finally get the keys to your new home. Their knowledge of the home buying process, negotiating skills, and familiarity with the area you want to live in can be extremely valuable. And best of all, it's FREE! Your real estate agent is paid by the seller, in most cases.

If you're considering a move, I would be happy to send you a copy of my FREE homebuyer guide!

06/13/2022

ᴍᴏᴛɪᴠᴀᴛɪᴏɴᴀʟ ᴍᴏɴᴅᴀʏ ✨

Just as real estate proves to be one of the best investments you can make (financially), the best return you can receive is from your own love and self-care.

When you choose to take the time for yourself, that provides space and opportunity for more to open itself to you. You're worth it — spend the currency of time and fully embrace the luxury of care.

Take time to schedule self-care, and respect the boundary: do what must be done to protect your energy and refill your cup. Don't allow the guilt behind the "people-pleasing mentality" to disrupt the love you have for yourself; 𝘺𝘰𝘶'𝘭𝘭 𝘣𝘦 𝘴𝘶𝘳𝘱𝘳𝘪𝘴𝘦𝘥 𝘩𝘰𝘸 𝘮𝘶𝘤𝘩 𝘮𝘰𝘳𝘦 𝘺𝘰𝘶 𝘩𝘢𝘷𝘦 𝘵𝘰 𝘨𝘪𝘷𝘦 𝘰𝘵𝘩𝘦𝘳𝘴 𝘸𝘩𝘦𝘯 𝘺𝘰𝘶 𝘤𝘰𝘯𝘴𝘪𝘴𝘵𝘦𝘯𝘵𝘭𝘺 𝘱𝘳𝘰𝘷𝘪𝘥𝘦 𝘸𝘩𝘢𝘵'𝘴 𝘯𝘦𝘦𝘥𝘦𝘥 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘴𝘦𝘭𝘧.

06/10/2022

Life events, milestones, and goals — all tend to revolve around our home life, our lifestyle, and at the same time, they provoke change. Sometimes you just know when it's time to move on ... and other times you need to sit with the questions and ask yourself:

• Are rooms being over-utilized and cluttered?
• Would a dedicated home office change the dynamics?
• Do I like the neighborhood I live in?
• Did I finish all of my projects?
• Do I want to start a new project?
• Does my house match my lifestyle?
• Can I comfortably host gatherings and parties?

Statistically, homeowner tenure reached an average of 13.2 years in 2021 with a slight decline from 13.5 years in 2020. It's interesting to note that in Q3 of 2021, the average tenure was only 6.3 years! That means more people are moving now than they have in the past decade.

𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘁𝗵𝗲 𝘁𝗼𝗽 𝗿𝗲𝗮𝘀𝗼𝗻𝘀 𝘄𝗵𝘆 𝗮 𝗵𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿 𝘄𝗼𝘂𝗹𝗱 𝗺𝗼𝘃𝗲 𝗶𝗻 𝟮𝟬𝟮𝟮?

• Working remotely from home and the need for a home office.
• Taking advantage of massive equity gains to move into a single-family from a townhome.
• Household member growth.
• Yard space for pets & family.

You will begin to feel when it's time for you to start making your next move. If you've been considering a change, let's talk about putting a plan together to match your home with your desired lifestyle.

#homesellingtips

06/09/2022

“𝗔𝗽𝗽𝗿𝗮𝗶𝘀𝗮𝗹 𝗚𝗮𝗽 𝗖𝗼𝘃𝗲𝗿𝗮𝗴𝗲” is a term that has been a hot topic of conversation since 2020 and 2021 with the increase in home values and shift in the overall market. But what does it really mean?

When you purchase a home with a mortgage, the lender usually requires an appraisal to validate the purchase price and "protect" themselves to ensure that they are only loaning you what they are told the home is "worth" based on comparable homes. This is to protect you as well so that you are not underwater on your home value before you even settle.

𝘚𝘰 𝘸𝘩𝘢𝘵 𝘩𝘢𝘱𝘱𝘦𝘯𝘴 𝘸𝘩𝘦𝘯 𝘵𝘩𝘦 𝘷𝘢𝘭𝘶𝘦 𝘰𝘧 𝘵𝘩𝘦 𝘢𝘱𝘱𝘳𝘢𝘪𝘴𝘢𝘭 𝘤𝘰𝘮𝘦𝘴 𝘪𝘯 𝘭𝘰𝘸?

In an aggressive market with pent-up buyer demand and historically low inventory, offers are being made with stronger, more creative terms, such as providing assurance that any difference between the contract price and the appraised value (or up to a certain amount of the difference), will be made up in additional cash at settlement. It's important to understand the risk involved with covering an appraisal gap, along with your options if the appraisal does happen to come in lower.

There is no better time for you to have an experienced (well-connected and creative) agent on your side to explain how you can structure your offer to win the home of your dreams. You will want to partner with an agent AND lender who will share all available options, such as restructuring your down payment, adding a second mortgage, and buying-out mortgage insurance, just to name a few.

𝗣𝗿𝗼 𝘁𝗶𝗽: 𝘀𝗽𝗲𝗮𝗸 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂𝗿 𝗹𝗲𝗻𝗱𝗲𝗿 𝗯𝗲𝗳𝗼𝗿𝗲 𝗮𝘀𝘀𝘂𝗺𝗶𝗻𝗴 𝘆𝗼𝘂 𝗰𝗮𝗻 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗽𝗿𝗼𝘃𝗶𝗱𝗲 "𝗴𝗮𝗽 𝗰𝗼𝘃𝗲𝗿𝗮𝗴𝗲" — you don't want to drain your entire savings account or rainy day fund in doing so.

Looking for an experienced agent to help guide you and protect you in this aggressive market? Send me a message and let's chat!

Celia Raposo

06/21/2022

06/20/2022

06/19/2022

06/17/2022

06/16/2022

06/15/2022

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06/09/2022

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