Home Sales

House For Sale in Pittsgrove, New Jersey

/ Stacy Schnell

This 3 bed 1 bath ranch home is situated on 3 acres of land in desirable Pittsgrove Township New Jersey.   Everything on one floor for easy living. This home offers a living room with a barn slider that opens up to a large family room with vaulted ceilings and so much natural light . The floor plan provides a layout that’s flows seamlessly and is comfortable for everyday living. Spacious kitchen opens up to the dining area that offers plenty of room for family meals or entertaining. Dining room offers sliders to the back screen porch where you can enjoy sitting and overlooking the serene nature. The owner has updated the flooring and hot water heater.

Enjoy grilling with the family out on the large deck or walking the land, this home has so much to offer. Current owner has lots chickens and sheep. Full basement with inside entrance, provides extra space for storage, hobbies and the laundry area. Home includes plenty of parking, beautiful outdoor space, and chicken coups that can be left for the next family. Give us a call to make this home yours today.

Stacy Schnell

D: 856-364-0772

Salesperson Collini Real Estate

Beautiful new construction home in East Vineland, New Jersey

/ Stacy Schnell

Introducing this beautiful new ranch home on the last buildable lot in this sought after East Vineland neighborhood. Situated on approx. 1 acre of land, this luxurious home will boast of OVER 2000 SQ FT of open concept living upstairs and over an additional 2,000 SQ FT downstairs! Breathtaking home features 3 bedrooms & 3.5 baths. This home is loaded with contemporary luxury features, modern black fixtures, and custom finishes throughout. Built on a gorgeous wooded lot that backs up to preserved land, Menanico Presersevation Trail. Five windows were added across the back plus a deck for the new owner(s) to enjoy the serene views. The large & open kitchen is a chefs dream! Features vaulted ceilings, granite counter tops, upgraded appliances, a pantry, plenty of counter space, and 42′ tall cabinets plus a huge center island! The island is the perfect spot for casual dining or entertaining and will include the sink, garbage disposal, dishwasher, extra storage & 6 available seats. Kitchen is tastefully finished with a breakfast nook area and opens up to the great room. There you’ll find a custom tiled fireplace, french doors with cathedral ceilings. The main bedroom features walk in closet, an additional closet plus the owner’s bath has a fully tiled shower and a double vanity sink. Laundry is located on the first floor for added convenience. 2 car garage features high sealings and plenty of room for extra storage, plus a paved driveway for more parking. French doors lead into the lower level living area from outside. Basement is fully finished and was built with superior walls & trusses for a more open concept, this way you can divide it and make the space work for your families needs. This awesome 35 by 70 ft space (over 2000 sq feet) was built with a full bathroom and 2 egress windows so you can add 2 additional bedrooms making (5 total) and use the other half for a home gym or entertaining, the possibilities are endless! Inside and outside access. Septic upgraded to handle a 5 bed home. Double French doors allow access to your backyard oasis from the lower level. Sod and sprinklers will be from back of home to edge of street across the entire property. Rear of property will be hydro-seeded and front will be sod . This beautiful home is a must see. Call today for your private tour. Seal the deal and begin the journey to your dream home!

The odds of a home price decline hitting your local housing market, as told by one interactive chart

/ Stacy Schnell

LANCE LAMBERT

April 27, 2022 5:15 AM EDT

Fed Chair Jerome Powell has made it clear: The central bank is done sitting on the sidelines as inflation chips away at the value of the dollar. The plan? Put upward pressure on interest rates until price growth relents.

Historically speaking, that inflation fighting playbook is particularly hard-felt in the housing market, where spiking mortgage rates can quickly price out homebuyers. That’s already starting to happen. On Thursday, the average 30-year fixed mortgage rate hit 5.11%—up from 3.11% in December. A borrower who took out a $500,000 mortgage at a 3.11% rate would owe $2,138 per month. At a 5.11% rate, that monthly payment on a 30-year mortgage spikes to $2,718.

While the swift move up in mortgage rates is undoubtedly putting downward pressure on the housing market, it doesn’t mean home prices are about to crash. In fact, every major real estate firm with a publicly released forecast model, including Fannie Mae and Zillow, still predicts home prices will climb further this year.

That said, industry insiders tell Fortune there’s increasingly a chance that the economic shock caused by soaring mortgage rates could see home values fall in some overpriced housing markets.

To better understand which regional housing markets might see a price decline, Fortune reached out to CoreLogic. The California-based real estate research company provided us with its assessment of close to 400 metropolitan statistical areas.

CoreLogic, which ranks No. 952 on the Fortune 1000, put housing markets into one of five categories based on the likelihood that home prices in that particular market are to fall over the coming 12 months. Here are those groupings:

  • Elevated: Over 40% chance of a price dip
  • High: 30–40% chance
  • Medium: 20–30% chance
  • Low: 10–20% chance
  • Very Low: 0–10% chance

Among the 392 regional housing markets that CoreLogic measured, it puts 86% into the “very low” or “low” likelihood of a price decline. It put 10% of markets into the “medium” grouping and 1% in the “high” grouping. Meanwhile, CoreLogic places only 2% of markets into the “elevated” group. The markets in the elevated grouping—the highest odds of a price correction—include Hartford; Kalamazoo; Lewiston, Maine; Mount Vernon, Wash.; Muskegon, Mich.; Olympia, Wash.; Salem, Ore.; and Honolulu.

Even in the face of soaring mortgage rates, CoreLogic still thinks the chances of prices declining in 2022 are fairly low.

This excerpt from Fortune.com

TO READ MORE CLICK HERE

3 Things to spot during a final walk through

/ Stacy Schnell

The final walkthrough is usually one of the last steps in purchasing a new home. This is also the time when buyers and their agents must have a watchful eye as they check on the condition of the property before they head to closing and make everything official.

This excerpt from Realtor magazine. To read more click the link below;

https://magazine.realtor/daily-news/2019/11/26/3-things-to-spot-during-a-final-walkthrough

Visit my website anytime for more tips on buying and selling your home.

www.stacyschnell.com

Give me a call to see what your home is worth, invest in real estate or buy your new home!

Stacy Schnell
Realtor Salesperson –
Direct: 856-364-0772
The Scott Sheppard Team
Email: Stacy.Schnell@foxroach.com

Mortgage News – First Time Home Buyer

/ Stacy Schnell

First-Time Homebuyers Get a Break With Lower Mortgage Rates

(TNS)—Economic gurus got one part of the mortgage forecast for 2019 correct. We’re certainly seeing a volatile year for rates.

What they didn’t see coming: Mortgage rates tumbled in March, the biggest one-week fall in a decade. Now—instead of seeing mortgage rates edge closer to 5.25 percent, as some had predicted we’d see in 2019—we’re looking at an average 30-year rate near 4 percent.

The rate drop comes just in time for the spring home-buying season and will make monthly payments less expensive.

“This drop in rates is going to give the housing market a boost,” says Bill Banfield, executive vice president of Capital Markets for Quicken Loans. “It could help to make people come back into the market and consider buying a home.”

Mortgage rates have fallen by a full percentage point since late 2018. Going back four months or so, most forecasts weren’t expecting mortgage rates to drop as low as 4 percent for borrowers, Banfield says.

“This is a surprise to a lot of people,” Banfield says.

The average 30-year rate was 4.1 percent as of late March, the lowest rate since Jan. 2018, according to Bankrate.com data. But rates started to rebound a bit upward in early April. The average 30-year rate went back to 4.29 percent as of April 3, according to Bankrate.com.

By contrast, the average mortgage rate was 5.1 percent as recently as mid-November, which was a seven-year high, according to Bankrate.com. The average was hovering around 4.75 percent as 2018 drew to a close.

We’re talking about some real money here for homebuyers. Take a $200,000 mortgage. The mortgage payment for principal and interest would drop by about $120 a month if your rate is 4.1 percent instead of 5.1 percent on a 30-year mortgage, according to Greg McBride, chief financial analyst for Bankrate.com. For the mortgage alone, the payment would be about $966 month at the 4.1 percent rate. It’s sort of like getting more than one month free each year.

For a homebuyer who was priced out of the market last spring, the lower rates could help get them back in the game.

Being able to lock in a 30-year fixed rate near, or even below, 4 percent helps put some “wind in the sails of home buyers from an affordability standpoint,” McBride says.

The 30-year fixed rate mortgage remains the dominant loan for middle-class borrowers, particularly first-time home buyers.

This excerpt from :  RIS Media.com      TO READ MORE CLICK HERE 

Stacy Schnell Real

 

Home for Sale in Cedarville New Jersey

/ Stacy Schnell

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Listed for just $105,000 this large 2 story home has lots of charcter. Home is located in Cedarville, New Jersey in Cumberland County on a quiet street. Home features 3 bedrooms and 2 baths. Kitchen has all new kitchen cabinets and stainless steel appliances. Large front porch, spacious family room and separate dining room. Rear sunroom, detached 2 car garage, walk up attic, full basement. Roof, vinyl siding and well are less than one year old. Seller to install new septic system prior to closing.

Detached Garage, Driveway Parking plus 2-Car Garage, 2 Detached Garage Spaces, Garage – Front Entry, 2 Car. 200+ Amp electric service, Heating: Radiator – Oil, Hot Water: Electric. Call today to shedule your tour and ask about listing # 82.  Stacy Schnell ~ Realtor Associate / Direct:  856-364-0772