The Connections Bridgewater Somerville Edition November 2020

HOME & DESIGN PAGE 22 theconnectionsnj.com Flexible Schedule Affordable Rates Free Estimates Weekly/Monthly 25 Years Experience Excellent References Trustworthy/Reliable After Party Cleanups Cleaning Personal Touch, LLC Sofia 908-342-7921 BRIDGEWATER RESIDENT Home Office Condo Apartments You might be wondering what the real estate market has been like in the last few months. The COVID-19 outbreak interrupted home sales in the early part of the year. We experienced a general pause in activi- ty for a few weeks, while everyone decided whether to go forward with buying and sell- ing plans. Some contracts were canceled when job insecurity prevented buyers from securing loans. Clients who decided to sell are reaping the benefits of a robust market. Inventory is on the low side, and the climate for buyers is very competitive in the low- to-mid price ranges. De- spite news reports of high unemployment, there are more than enough quali- fied buyers ready and able to take advantage of his- torically low-interest rates. First-time buyers are ex- cited to purchase homes, allowing sellers to trade up as their needs and cir- cumstances dictate. The inner-ring suburban counties are re- porting an exodus from NYC and surround- ing areas of dense population. People who anticipate more work-from-home and dis- tance learning days want to invest in greater space. They are seeking homes with private workspaces, home gyms, and nice yards for outdoor recreation and pet space. Homes with pools have been extremely popular. Somerset County, located in the second-ring of counties in proximity to NYC, is not see- ing a stampede, but interest is strong. As al- ways, buyers are seeking a balance between more space for the dollar, vs. potential com- mute from any given location. What am I doing to stay safe during a time of great fear? I take precautions similar to any public outing. My clients and I wear masks, dis- posable booties, and gloves, and use hand sanitizer. I recommend frequent wiping of surfaces like keyboxes and light switches and eliminate touching anything unless it is essential. To limit the time indoors, we discuss our observations and I answer questions outside. I space appointments and limit the number of visitors inside a property at one time. All clients must sign a disclosure prior to each showing. It's more work, but worth the effort for everyone's safety. Sellers who occupy their homes can leave lights on and in- terior doors ajar to reduce unnecessary touch. Many sellers are choosing to va- cate their homes before showings begin, which reduces interaction and makes buyers feel safer about showings. Virtual tours and vid- eo-call showings are happening, but mostly for screening purposes only. A majority of buyers would not make the momentous de- cision to purchase a home without person- ally visiting the property and examining the details that don’t typically appear in photos or videos. Homes must be seen and expe- rienced in person, with the feedback of an experienced real estate agent, for a buyer to make a fully-informed decision. No one has a crystal ball, but things may continue this way for the foreseeable future, with real estate activity responding to changes in the economy. I wish everyone safety and health in the coming months! Local expert Johanna Wiseman of RE/MAX Preferred Professionals can be reached at 908-705-0652, or visit www. MyBridgewaterHome.com Johanna Wiseman RE/MAX Preferred Professionals 908-705-0652 The inner-ring suburban counties are reporting an exodus from NYC and surrounding areas of dense population. People who anticipate more work-from-home and distance learning days want to invest in greater space. Homes must be seen and experienced in person, with the feedback of an experienced real estate agent, for a buyer to make a fully-informed decision. REAL ESTATE UPDATE – 2020 By Johanna Wiseman, RE/MAX Preferred Professionals If there are multiple working adults and/ or students, each needing a private area to conference or attend virtual school, the current home may not offer enough space. The amazing am unt of activity is nhanced by the fact that many buyers and sellers are affect d by mor tha o e of the above scenarios at the same tim . This is reating a “perfe t storm” of motivation to relocate, even amid the uncertainty of the ongoing COVID-19 pandemic. Why would anyon want to move during a pandemic? 10 Reasons Why. 2020 has brought massive lifestyle c ange . As w spend subs antially more time at home, peop e re forced to re-evaluate th ir living situati . 1 – H useh lds need more spac . We are working a d schooling from home. Som colleg s u ents have left campuse and returned to paren- tal home . If there are multiple workin adults and/or students, each ne ding a privat area to conference or attend virtual school, the cur- rent home may not offer enough space. Internet strength and smart home features have grown in im- portance. 2 – Combining house- holds to solve financial, generational, and child- care challenges. 3 – Recreation. Peo- ple are looking for more outdoor space for activities and enter- tainment at home. Outdoor features such as swimming pools and room for play equipment drove demand in spring and summer. Gym closures prompted a strong interest in home exercise areas. Finished basements are becoming more desirable as cold weather sets in. 4 – Congestion. The pandemic has caused an increase in the desire to leave high-density housing. Buyers are looking for omes in r as that they perceive as less crowded, to avoid public transporta- ti n and common-use areas. Thi may b temporary, but it’s affecting the amount of m ving over ll. 5 – Demand is high nd homes are selli for record prices. So e owners want to take adv ta e of the opportu i- ty to r aliz a profit on what they current- ly own. After selling, they may dec de to downs ze, rent, relocate or upgrade. 6 – I terest rates are historically low, which motivates an increase i pu - cha ing p wer. 7 – Millennials who have been liv- ing with parents or roommates to ave money, feel crow ed and crunched now that they are working from home, with limited social outlets. Several young cli- ents have told me “I was fine before, but now I have to get my own place be- fore I go crazy!” 8 – Employers are al- lowing more work-from- home, or closing worksites altogether, so workers re- alize they don’t need to live within commuting distance of their jobs. This allows the possibility of mov- ing somewhere with a lower cost-of-liv- ing, without changing jobs. 9 – Retirement plans. Boomers who planned to relocate within a few years are accelerating their plans to maximize profit. 10 – Second homes. If someone al- ready wns a beach hous or oth r va- cation pro erty, they may decide t sell their primary home and move there full time. It’s a good ti for others to add a vacation home to their portfolio, for their exclusive us . The amazing mount of activity is enhanced by th fact that many buyers and sellers re affected by re than one of th above sce arios at the same time. This is c eating a “perfect storm” of motiv ion to relocate, even amid the uncertainty of the ongoing COVID-19 pandemic. Local expert Johanna Wiseman of RE/MAX Preferred Professionals can be reached at 908-705-0652, or visit www.MyBridgewaterHome.com see ad on page 4