Robert Gaccione

Director of Commercial Lending

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Cell: 973-557-6151
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The housing market in New Jersey saw a dynamic year in 2019. As temperatures dropped, inventory and offers increased. Thanks to the high demand for starter homes, those looking to buy in the luxury market will find themselves at an advantage. Less competition coupled with notable increase in luxury homes spending can make upgrading your current home more attainable than ever.  The Cost of Homes Will Remain Steady Existing homes have seen both a decline and rebound in sales in recent years. While the third quarter of 2019 saw declining mortgage rates, the pace for 2020 is projected to remain steady. The flattening of overall price growth projects a forecasted increase of 0.8% for 2020 .  Mortgage Rates are Projected to Stay Below 4% Until there is a sustained increase in inflation, Central Bank will not be hiking up their rates. Currently, it’s projected that mortgage rates should stay below 4% but won't decrease much beyond that. Lower mortgage rates are proving to be a big factor in increased construction with builder confidence being reported at an all-time high since 1999. Increased Demand for Entry-Level Homes Can Lead to an Increase in Existing Luxury Inventory  Those belonging to the Baby Boomer generation have played a major role in shaping the current housing market, as many of them are retiring and looking to downsize their current homes. While entry-level homes are in greater demand with a low level of inventory, many builders have shifted their focus to affordability rather than luxury. This trend will lead to a decrease in new construction in the luxury market. However, those currently inhabiting ...

There’s a common misconception that the real estate market in New Jersey slows to a complete stop in the wintertime. While it may feel counterintuitive, the colder months are actually a great time to sell your home!  Less Competition Makes Your Home Seem More Desirable  The vast majority of the country does not have enough homes for sale to satisfy the number of buyers in the market during the winter. Waiting until the spring can have you seeing more time spent on the market and potentially less money for your home.  The Opportunity to Sell High and Buy Low If you want to buy a home in the spring, selling now gives you the chance to be a non-contingent buyer when you’re ready to make a purchase. While you may have to find some short-term accomodations, this sets you up as a competitive buyer because you won’t be saddled with a house sale contingency.  Reduced inventory in the winter months often sees homes selling at higher prices. The market is often flooded with competition in the spring which gives buyers the leverage to negotiate on the price.  Buyers Are More Serious in the Winter Months It is statistically shown that buyer demand remains strong throughout the winter in the vast majority of the country. Buyers that are ready, willing, and able to purchase are in the winter market. Many areas of the country will see buyers competing for the same home. Beyond that, mortgage rates tend to rise in the spring which gives buyers the incentive to act now.  You’ll Capture the Relocating Buyer The first quarter of the new year is when employers are most likely to either ...

Buying a home is a major investment and for some might be a scary one. The cost of maintenance, utilities and property taxes might be increasing in New Jersey, however, recent real estate reports show that buying a home can set one up for a successful financial future.  Whether you are newlyweds looking for your first place to settle down or starting a new career in a new location, some turn to renting a residence for cheaper monthly costs and less hassle. While it may seem like you are saving money by renting, you are actually spending MORE than you would buying a home. Check out these reasons for the benefits of investing in your own property.  It’s exclusively yours  No strings attached. Being a homeowner means you have your own place that is not anyone else’s and can do what you want with the space freely. Whether you want to paint the living room a new color or change the countertops in the kitchen, it’s your call and you don’t have to seek permission from a landlord. When you are renting a home or apartment, you can’t ever have the space be truly yours since personalization has its limitations. Think of owning a home as your own little HGTV project: you can remodel and redecorate for any style or vibe you are looking for your home to convey.  You can see benefits come tax season  We all dread the month of April...the 15th to be exact.. But when you own a home, that time of year might not be so unpleasant. When renting a place, you feel as if the burden of taxes is lifted off your shoulder. While that may be true, you will end up paying more for the residence than you would if you owned ...

For some sellers, selling their home as fast as possible is important. Perhaps you need to get to your new home and location for a job opportunity or you are just eager for that fresh start, there are many ways to make your property the best it can be that can result in a faster sale.  1. Make your home warm and welcoming  Making your home a place where potential buyers can feel welcomed is key to having a quick and successful sale. By decluttering rooms in your home and only keeping out essential furniture like end tables and sofas, you can assist prospective buyers in visualizing themselves and their personal belongings in your space. Keeping each room of the house neutral with warm color accents and decorations that aren’t too over the top will help the buyer decide if they can truly make the space their own. You can also try rearranging your furniture to allow a somewhat smaller space to have the illusion of being a bigger part of the home. By doing this, Not only will your house spend less time on the market but it will also increase its value and the buyer might be willing to spend more on the property.  2. Adopt the minimalist lifestyle  If you choose to stage your home like the advice mentioned it Tip 1, it is important to maintain its organization. If you have a household of young children, store away any toys or mess before an open house and make sure items like clothes and beds are neatly arranged. According to most real estate professionals, the most appealing room to prospective buyers when looking at a home is the kitchen since most of the cooking and gathering of the family is done in this spot. Make sure your ...

You’re looking to sell your home in the new year and finally settle into retirement or move into a neighborhood closer to school or work...we’ve all been there. Selling a home can be a challenging process through working with the right realtors to preparing mentally for the process. Here are a few common mistakes to steer clear of when you place that “For Sale” sign on your front lawn.  Mistake #1: Listing your home for more than it’s worth  New Jersey is becoming a booming market for small and large businesses to grow their headquarters so a lot more people are considering the garden state for their next home, however it is a gradual process making real estate inventory on the low side. When inventory is low, sellers believe they should increase the price of their home to attract buyers who will become desperate for a home.Think again. When a potential buyer is interested in the seller’s property, the next step in the buying process is to get an appraisal of the home to determine a fair price. This is where if the price of the home is selling for more than what it’s worth, that price might need to be renegotiated. Seeking help from a real estate professional is a great way to ensure a seller is selling their home at a fair price.  Mistake #2: Getting too emotionally involved with the sale  Everyone knows what it feels like when you buy your first home. That feeling of hope and excitement is overwhelming and you are proud of your first major investment. Over time, these emotions don’t burn out completely. A seller who gets too emotionally involved within a sale might increase the ...

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