The Connections Bridgewater Somerville Edition June 2025

HOME & DESIGN

PAGE 40

REAL ESTATE CORNER Real Estate Conversations By Johanna Wiseman

W

hether it’s a graduation party or a July 4th barbeque, we will all likely at tend at least one social event this season. In my experience, the topic of real estate almost always comes up in casual con versation at most gatherings. What are people saying about real es tate this year? Here is an example of a conversation I’ve been hearing lately: Neighbor #1 confessed, “I check Zil low obsessively to see what my home is worth and what else is for sale.” Neigh bor #2 replied, “That used to be me, but once we made an offer on a home, I had to break the habit. Seeing other homes for sale was too distracting for me. After we closed, I was happy to have all that time back to devote to renovations.” This focus on real estate leads to a lot of questions about what to do to take ad vantage of the market. The following are some frequently asked questions that I often hear: Q: “Should I take money out of the stock market and invest in real estate?” A: I’m not a financial advisor, but my opinion is that the decision to invest in property should be made independently and not influenced by the stock market. If you want to invest in real estate, there are a variety of opportunities. Q: “We’ve outgrown our home and need to move to a larger property. I have a lot of equity in my current home, but I have a 3% mortgage. If I buy another home, my new loan would come with almost double the interest rate! Is it wise to move?” A: It’s true that interest rates are cur rently much higher than many existing mortgages, but if the proceeds from the sale of your home are high enough, you could make a larger down payment on your next home. A larger down payment could positively influence your interest rate. If your equity is high, you should also explore finance options that allow you to borrow temporarily to make a

new purchase. To calculate whether it’s worthwhile to upgrade your home at current rates, you should consider the amount your home has gained in value and the projected proceeds if you were to sell.

Q: Interest rates - when will they drop? A: News outlets report that the Fed eral Reserve is expected to cut interest rates at least once in 2025. The amount of the reduction will be influenced by inflation and the general economy. On May 1, the Fed announced it would hold rates steady with a “wait and see” approach. Any change in interest rates would likely be incremental, so don’t ex pect a quick return to the heyday of 3% mortgages. Our local real estate market is still vig orous, often resulting in multiple offers, increasing sale prices, and quick sales. If you are interested in exploring your op tions to buy, sell, or invest in real estate, my team is ready to roll up our sleeves and help you. Contact local expert Johanna Wiseman Johanna Wiseman of RE/MAX Preferred Professionals at 908-705-0652, or use the QR code in the advertisement near the front of this magazine.

Part-Time Office Administrator – Sales/Production Support Join our team at The Connection Magazines , a well established and trusted community publication in Central New Jersey. We’re looking for a detail-oriented and motivated individual to support our Sales and Production team. This part-time job is ideal for someone who enjoys working in a creative, community-focused environment. Responsibilities include: • Assisting with ad production and proofing • Coordinating with the graphics team • Providing excellent customer service • Administrative and computer-based tasks Requirements: • Strong attention to detail • Good communication and organizational skills • Basic computer proficiency • Positive, team-oriented attitude If you’re looking for meaningful work where you can connect with your local community and love what you do, we’d love to hear from you! To apply, please email your resume to Anna at info@theconnectionsnj.com The Connection Magazines

WE’RE

HIRING!

theconnectionsnj.com