How’s your school doing?
Among other factors, home values are directly linked to schools. Great schools bring up the prices of homes, and bad schools bring down the prices.
If you haven’t seen the news, this year’s School Ratings by Inside New Jersey has been published. Inside New Jersey is not the only school rating system but it is the first to publish their results this year.
Inside New Jersey used 4 years of data to evaluate schools. The criteria they used were the HSPA (High School Proficiency Assessment) and SAT (Scholastic Aptitude Test) results. Each school was given a letter grade – A, B, C or D. They didn’t score schools the way you would predict – in other words, a score of “A” isn’t the best. A score of A means, according to Inside New Jersey, “above average score, below average growth,” whereas a B means “above average score, above average growth.” A C means “below average score, below average growth” and a D means “below average score, above average growth.”
Here are the scores:
|Union Cty. Magnet Hs
|Academy For Information Technology
|Westfield High School
|Summit Senior H.S.
|New Providence H.S.
|Governor Livingston H.S.
|Scotch Plains-Fanwood H.S
|Cranford Senior H.S.
|Union Cty. Vo-Tech Hs
|Arthur L. Johnson
|Roselle Park High School
|David Brearley Hs
|Union Sr High
|Abraham Clark H.S.
When these scores are correlated to home values, the average value of a home in an A school district is $519,660. The average value of a home in a B district is $482,271. The average home in a C school district is valued at $280,825 and the average home in a D school district is valued at $361,800.
For more information on schools in Union County, click here. For more information on home values, click here.
In many parts of Union County, we’re experiencing a weak seller’s market or a diminishing buyer’s market. If you want to get in on the summer market, here are some things you need to know before you list your home:
- Make repairs before you list your home! Things like leaky roofs, dead light bulbs, and broken windows, will make it harder for potential buyers to see your home’s attributes. Take care of them before you list your home.
- Make home improvements that will increase the value of your home. If your budget and time frame allow, making these repairs now will help get your home sold quicker and for a higher price.
- Educate yourself about the home selling process. Here is a link to a free video called “Preparing your home to sell.”
- Interview real estate agents. Most sellers hire the first agent they interview, while others continue looking. Be sure to choose an agent who shows you a vibrant marketing plan that you trust.
- Research market conditions in your neighborhood so that you can make an intelligent decision about pricing your home. We’ve linked some local market reports below to help you get started.
Summer is half over.
While you’re enjoying the sun and sand and warm nights, don’t forget that students have summer reading to do. Here’s a roundup of all the summer reading for Union County students:
Real Estate Professionals judge the strength of a real estate market based upon the Months of Supply in the area. This number tells you how many months it would take for all the current homes for sale on the market to sell, based upon the rate of sales in the past.
A Months of Supply of 5 months is considered average – buyers and sellers are about equal in the area and homes are being bought at about the same rate that they are being put on the market.
A Months of Supply of less than 5 months is what real estate professionals often call a “seller’s market.” This means that there are more buyers than sellers in the area and homes are selling quicker than they are being put on the market. Typically, this increases prices.
A Months of Supply of greater than 5 months is what real estate professionals call a “buyer’s market.” This means that there are more sellers than buyers in the area and homes are sitting unsold for a while. Typically, this decreases prices.
How is your town doing? Here’s the latest data:
What does all this mean to you as a buyer or a seller?
The only town where there is a true seller’s market is Fanwood. There are more buyers looking to buy homes in Fanwood than there are homes for sale. Buyers are experiencing competition.
Mountainside is nearly a normal market with only slightly more sellers than buyers.
Garwood and Westfield had seller’s markets earlier in the year, but increased inventory without a corresponding increase in buyers has resulted in a buyer’s market.
The other towns in Union County are all experiencing strong buyer’s market. Homes there are priced low and sellers are experiencing competition.
For more information on how this affects you, contact us for a complimentary consultation.
March 6th is Dentist’s Day – is everyone smiling?
One of our favorite dentists is Dr. Alice Brittain of Smiles On Stiles in Linden, NJ. A Pittsburgh native, Dr. Brittain began her dental career in the US Air Force, serving ten years on active duty, and then served part time in the NY Air National Guard until retiring as a Lieutenant Colonel. Since moving to Linden in 1992, Dr. Brittain has maintained a private family dental practice. She also possesses a Certificate in Electrology and is a Certified Professional Electrologist.
Do you take care of your teeth? Dr. Brittain says, ”Do you take your car in for regular maintenance? Will you have it for ten years? Thirty? Have you scheduled a dental check-up lately?”
Dr. Brittain can be found at 1202 N. Stiles St. in Linden and can be reached at 908-486-2673.
Celebrate Dentist’s Day by making an appointment for a checkup now!