COME TO THE OPEN HOUSE THIS SUNDAY, JUNE 4TH 1-4 PM
LARGE SPLIT LEVEL HOME ON .67 ACRES WITH 3 BEDROOMS, 3 FULL BATHS, FAMILY ROOM AND MORE!
OR call Dianne Houmis for showings and details. 973-723-5816 www.diannehoumis.com
I serve Essex, Union & Morris County. I know that buying and selling real estate can be a major challenge, my aim is to make this process as smooth and successful for you as possible.
My current and recent listings.
Wondering what your house is currently worth? Find an estimate of its value today!
Get the latest listings delivered to your email each day. Be among the first to know!
Find out more about my background and my real estate business.
Salesman Jim Weichert
The fall real estate market is here, and it’s already shaping up very nicely. While people don’t typically think of fall as a popular season for real estate, it can actually be one of the best times of year to buy or sell a home. With people back from summer vacation, children returning to school and the busyness of the holidays not yet here, buyers and sellers have more time to devote to a home sale or purchase.
This year in particular, we are still benefiting from incredibly low interest rates. In fact, national averages for a 30-year fixed-rate mortgage are in the 3.4 percent range, making a home purchase more affordable for many. However, prices are going up, so it’s in a buyer’s best interest to move quickly.
Recent market reports are also encouraging. New home sales are skyrocketing! According to the most recent data available, new home sales increased 12.4 percent month over month in July and were at the highest level since October 2007. In addition, the National Association of Realtors (NAR) expects that total existing-home sales this year should be 2.8 percent higher than in 2015, and wind up at the highest level since 2006. Already, the most recent NAR report on pending home sales showed the second-highest reading in over a decade.
Slow growth in China and the Brexit vote in the U.K. have played a major role in driving down mortgage rates, according to Freddie Mac’s recently released monthly Outlook for July. In the most recent Primary Mortgage Market Survey, the 30-year fixed-rate mortgage fell to 3.41 percent, just slightly above the all-time record low. This is likely to result in a boost in housing activity, particularly refinance, as homeowners take advantage of the current low rates.
“With the U.K.’s decision to exit from the European Union, global risks increased substantially, leading us to revise our views for the remainder of 2016 and all of 2017,” says Sean Becketti, chief economist, Freddie Mac. “Nonetheless, the turbulence abroad should continue to create demand for U.S. Treasuries and keep mortgage rates near historic lows; thereby, allowing home sales to have their best year in a decade, along with a boost in refinance activity.”
Results lead experts to expect growth rebound in the remaining quarters of 2016 to show GDP at 1.9 and 2.2 percent in 2016 and 2017. In light of recent global pressures, the 30-year, fixed-rate mortgage forecast has been revised down for both 2016 (by 30 basis points) and 2017 (by 50 basis points) to 3.6 percent and 4.0 percent, respectively.
Based on these low mortgage rates, expect the refinance share of originations to rise to 49 percent for 2016, 8 percentage points above last month’s forecast. This translates to about $100 billion more in originations, bringing the total for 2016 to $1,825 billion.
With June’s much-improved employment report over May’s release, expect unemployment to average 4.9 percent in 2016 and 4.8 percent in 2017.
The house price appreciation forecast for 2016 remains at 5.0 percent, and in 2017, 4.0 percent.
For more information, visit www.freddiemac.com.
|# Rooms:||8||# FullBaths:||1|
|# Bedrooms:||4||# HalfBaths:||1|
|Garage:||1 / Attached Garage, Garage Door Opener|
|Basement:||Yes / French Drain, Unfinished, Walkout|
|Heat:||1 Unit, Forced Hot Air|
|Cool:||1 Unit, Central Air|
|Fireplace:||1 / Living Room, Wood Burning|
|Directions:||northfield to Sheridan|
|Neat and clean Colonial home located in desirable St. Cloud section near school, jitney to train in front of house and walk to bus to NYC. This home features 4 spacious bedrooms on second floor|
|with wood floors, first floor den with sliders out to Treks 20 x 20 deck and professionally landscaped fenced yard. The hall bath has double sink Corian vanity, tile shower and Jacuzzi tub. Relax by the wood burning fireplace in the living room and enjoy the eat in kitchen with sub zero refrigerator, pantry with pull outs and side entry to yard. Special features include central air, vinyl sided with brick front, 1 car attached garage with new door and opener , upgraded electric, full basement with access to outside, storage under deck, much more to see!|
LISTED AND UNDER CONTRACT IN 4 DAYS. This home I listed at 39 Franklin in FOREST PARK, LIVINGSTON, NJ, I also sold. Closing will be end of July. $829,900 4 bedrooms, 2 1/2 bath plus office Colonial home not to be missed. Gourmet kitchen open to family room with gas fireplace, office or 5th bedroom, formal dining room and living room with 4 bedrooms on 2nd floor plus finished basement. Call Dianne Houmis for details and showings. 973-723-5816
U.S. house prices rose 1.3 percent in the first quarter of 2016, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). This is the nineteenth consecutive quarterly price increase in the purchase-only, seasonally adjusted index.
House prices rose 5.7 percent from the first quarter of 2015 to the first quarter of 2016. This is the fourth consecutive year in which prices grew more than 5 percent. FHFA’s seasonally adjusted monthly index for March was up 0.7 percent from February.
“While the overall appreciation rate was robust in the first quarter, home price appreciation was somewhat less widespread than in recent quarters,” says FHFA Supervisory Economist Andrew Leventis. “Twelve states and the District of Columbia saw price declines in the quarter—the most areas to see price depreciation since the fourth quarter of 2013. Although most declines were modest, such declines are notable given the pervasive and extraordinary appreciation we have been observing for many years.”
While the purchase-only HPI rose 5.7 percent from the first quarter of 2015 to the first quarter of 2016, prices of other goods and services were nearly unchanged. The inflation-adjusted price of homes rose approximately 5.6 percent over the latest year.
Home prices rose in every state between the first quarter of 2015 and the first quarter of 2016. The top five states in annual appreciation were: 1) Oregon 11.8 percent; 2) Florida 11.2 percent; 3) Washington 10.9 percent; 4) Nevada 9.4 percent; and 5) Colorado 9.0 percent.
Among the 100 most populated metropolitan areas in the U.S., annual price increases were greatest in the West Palm Beach-Boca Raton-Delray Beach, Fla. (MSAD), where prices increased by 16.7 percent. Prices were weakest in El Paso, Texas, where they fell 2.8 percent.
Of the nine census divisions, the Pacific division experienced the strongest increase in the first quarter, posting a 1.9 percent quarterly increase and an 8.1 percent increase since the first quarter of last year. House price appreciation was weakest in the Middle Atlantic division, where prices rose 0.6 percent from the last quarter.
For more information, visit www.fhfa.gov.
FOREST PARK, LIVINGSTON, NJ NEW LISTING! OPEN HOUSE MAY1, 2016 $829,900 4 bedrooms, 2 1/2 bath plus office Colonial home not to be missed. Gourmet kitchen open to family room with gas fireplace, office or 5th bedroom, formal dining room and living room with 4 bedrooms on 2nd floor plus finished basement. Must see! Call Dianne Houmis for details and showings. 973-723-5816
28 Hazel Avenue, $485,000
Welcome to this NYC Commuter Dream house located walking distance to bus and town center? You will enjoy the welcoming lemonade porch as you enter this warm and inviting Colonial home. Touches of charm and tender loving care abound in this home! Relax in a fabulous sunroom with sliders to the picturesque yard and 2 car detached garage with extra loft storage. The living room is warm and inviting and features a cozy gas fireplace. The light and bright kitchen has a center island and eat in area with skylights, pantry and recess lights. The side door entry from driveway leads to a finished basement or kitchen. Wood floors throughout this home, new windows and doors and a five year old furnace and hot water heater are just a few more reasons to call this home yours! Call Dianne Houmis at 973-723-5816 for more details!
This 3 bedroom cape cod home with 2 full baths and basement was listed on Thursday and under contract by Monday! It is located in Livingston, NJ and features an oversized 1 car attached garage and many improvements including a new roof 2014, new vinyl siding, windows, shutters, doors, gutters/leaders- 2010, a new furnace in 2008, wood floors, Newer Corian counter kitchen and updated baths. This home located on a large level lot is located one block to NYC bus and 1 mile to hospital. Best of All- Livingston Schools! Call Dianne Houmis to see how I can do this for you today! 973-723-5816 [Read more…]
Weichert Realtors, Livingston
35 North Livingston Avenue
Livingston, NJ 07039
Cell: (973) 723-5816
Office Direct: (973) 488-1231
Office: (973) 994-4884 Ext.1231