By Erin O’Neill | NJ Advance Media for NJ.com
on September 27, 2016 at 5:35 PM, updated September 27, 2016 at 6:03 PM
Home prices in the New York area ticked up slightly over the last year but increased at a slower rate than 19 other major metropolitan markets in the country, according to a new report released on Tuesday.
The S&P CoreLogic Case-Shiller 20-City Composite index notched a 5 percent year-over-year increase in July led by big gains in real estate values in the Pacific Northwest, specifically Portland and Seattle. The New York region, including northern New Jersey, saw home prices rise just 1.7 percent over that same time frame, the weakest growth among all of the cities included in that index.
The Washington, D.C., area’s rise in home prices was the second-worst at 2 percent year-over-year.
Ridgewood NJ, As much as American workers look forward to retirement, many of them also worry that retirement is a luxury they can’t afford.
In fact, about one-fourth express concerns about running out of cash in retirement, according to a survey by the Indexed Annuity Leadership Council.
The problem, says Marco Kozlowski, (www.marcokozlowski.com) an entrepreneur and business consultant, is that too many people lock themselves into a few limited options for funding their retirement nest egg.
Social Security provides a small amount of income, but after that people rely on what little savings they can muster after paying bills and taking care of other daily living expenses.
When they realize their savings are coming up short, they consider alternative retirement plans, such as delaying Social Security so monthly payments will be higher, working in retirement, or turning to investments such as real estate to provide a different path to security.
Kozlowski is a proponent of the real estate alternative, but he warns that real estate comes with its own caveats.
“People think when you are talking about real estate that it’s going to be some get-rich-quick situation,” Kozlowski says. “It’s not. To be successful at it takes effort and education on how to do things correctly. Buying a home and buying investment property have completely different rules.”
Those willing to get educated and to put in the hard work will find that real estate can be the ticket to healthy retirement plan, he says.
He has a few tips to help those interested avoid some common pitfalls:
• Buy it right. Be on the lookout for the best deals. Ideally, you want to find properties that you can buy at a discount. If you really know what you are doing, you can get 20 percent or more off the actual property value. Don’t worry about the seller’s asking price. “If you make an offer and it gets accepted, you paid too much,” he says. • Don’t fear negotiations. When it’s not something you do on a regular basis, negotiating can seem intimidating and uncomfortable. Some people just don’t like it, but good negotiations are critical and inevitable for success in life and real estate, so Kozlowski suggests just having fun with it. “Negotiations are nothing more than a conversation with another person, but with a goal in mind,” he says. “Remember that money is made on the buy. I’d rather get 100 rejected offers and one accepted at the right price. Rejection is free; a bad deal is costly.” • Consider hiring a management firm. Owning and maintaining real estate can consume a lot of time. It’s best to get a management company to manage the properties and tenants for you so you can devote your time to other more important things – like making more offers to get more great deals in your portfolio • Explore financing options. There are many ways to finance a real estate purchase. You don’t have to use your own capital and you don’t have to go through a bank. For example, you can seek out private money. You may pay more in interest, Kozlowski says, but there’s no limit on how many loans you can get as is the case with many banks.
Kozlowski cautions that real estate investing can be risky – especially if you don’t educate yourself before taking the plunge.
“The way to reduce all risk is through knowledge,” he says. “Everything we learn helps use avoid some sort of risk. In that sense, real estate investing isn’t much different from anything else in life.”
About Marco Kozlowski
Marco Kozlowski (www.marcokozlowski.com), author of the ebooks “WTF Wealth: The Formula” and “10 Myths of Investing in U.S. Real Estate,” is an entrepreneur and mentor who offers financial education on how to maximize real estate investing in the United States from anywhere in the world.
Stunning new listing in Rio Vista Estates, 6 Finn Ct., Mahwah
Northern Bergen County Specialists Bring a New Perspective to Real Estate Sales
August 14,2016
the staff of the Ridgewood blog
Ridgewood , NJ , Buying and selling homes are two of the most important steps in anyone’s life. The deep experience of Special Properties Real Estate Services, a growing real estate brokerage group in northwest Bergen County, combined with the name recognition and respect that comes with the Christie’s International Real Estate brand, is paying dividends for both buyers and sellers and bringing a new perspective to real estate in the region.
“Over more than two decades, Special Properties has enjoyed a successful partnership with Christie’s International Real Estate. With this long-standing relationship, our local clients have enjoyed some of the most lucrative property values on both the buy and sell side,” said Vicki Gaily, Marketing Director for Special Properties. “For those coming into or moving beyond the region, our brokerage, in cooperation with Christie’s deep network of international real estate experts, brings significant advantages to helping these clients find their dream homes.”
With the exclusive affiliation with Christie’s International Real Estate, Special Properties brings access to more than 135 brokerages, working out of 1,200 offices, and engaging more than 32,000 agents in 45 countries across the world. With more than $110 billion in global sales, Christie’s brings access to a new worldwide pool of potential buyers, Christie’s real estate standards require the highest expertise of its affiliated agents and a level of service that is second to none.
“The Christie’s brand is instantly recognizable to clients and truly distinguishes one property from another,” continues Gaily. “Christie’s confidence in Special Properties, and in this region, ensures that homeowners and communities realize the highest levels of exposure and, consequentially, increasing property values. With its affiliation with the Christie’s network, Special Properties can assist in the relocation of clients anywhere in the world, while exposing northwest Bergen’s local communities to a larger universe of buyers from around the world.”
Supported by the esteemed art business, Christie’s International Real Estate is a global network offering exclusive home and luxury real estate services to buyers and sellers worldwide. Christie’s only admits real estate brokerages to its network that demonstrate a proven record of success and best customer satisfaction. With a majority of buyers initiating their home searches online, the Christie’s International Real Estate network receives more than 490 million annual web page views from discerning buyers worldwide.
About Special Properties Real Estate Services Group
Special Properties Real Estate Services embraces the history and traditions of its flagship brokerage location in Saddle River, NJ, into an expanded, modern presence in Mahwah and Franklin Lakes, NJ. With a staff of accomplished real estate brokers, its clients across northern New Jersey and southern New York are provided with customized, personalized services, backed by the luxury real estate brand of Christie’s International Real Estate. Special Properties provides local expertise with global connections. For more information, call (201)962-9555.
