Thank you for visiting my web site. This will be your comprehensive information tool for all your real estate needs: a "one stop shopping" from pre-approval through our trusted partners, Atlantic Home Loans, Buyer Tours, making an offer and all the way to closing.
If you are just curious or if you are preparing your home for sale, I hope you will find my new EZ HOME ANALYSIS page helpful.
You may also want to sign up for my monthly newsletter with up-do-date information on all real estate needs as well as valuable information for home owners. If you are a client of mine, please sign up for this helpful tool.
Featured Listings & Exclusive Listings
Till Horkenbach, New Jersey REALTOR® Associate
Top Agent of the Keller Williams Village Square Realty team in Ridgewood 2011-16
Five Star Real Estate Agent for 5 consecutive years
NJAR® Circle of Excellence Sales Award® 2011-16
KW Medallion Award 2012-16 with over 169 real estate transactions
Keller Williams is the largest real estate franchise company in the nation . Keller Williams Village Square Realty in Ridgewood is the fastest growing office in the area and the top performer in the area based on dollar-volume and #1 in our region in 2012-17.
Till Horkenbach is a marketing specialist concentrating on properties for sale in these areas:
North West Bergen County:
Central Bergen County:
Your most comprehensive one-stop source for all your real estate needs in Northern Bergen County, NJ.
Whether you are a buyer looking for real estate, seller looking for market information or a renter, you will find this site to be a useful tool that will give you all the resources you need to get started.
"I focus on my client's needs, tailor an individual strategy to achieve their goals and provide them with expertise in real estate marketing and negotiation and extensively market their home and not just list their property."
So whether you're buying, selling or renting, feel free to contact me and I will be happy to help you with all your real estate needs.
The Impact of Rising Interest Rates & Their Calculation
Every 1%-point in mortgage rate increase will reduce a buyer's "buying power" by 9%. (For example at a rate of 3.5% a 400K loan will cost about $1,800/mo and at 4.5% a 400K loan will cost just under $2,000/mo). That means that a buyer will soon look at inventory that is currently priced 9% less!
If a buyer has not found a home by now, s/he may not find a home when interest rates continue to rise. Not only does the buyer have to deal with higher monthly payments but also with climbing home values in this tight real estate market ... (Click HERE to see the short video with Doug Duncan, Fannie Mae's Chief Economist, why home prices will still rise with rising interest rates.)
The time to buy is NOW!!!
Our Local Market Snapshot
ALL New Jersey home sales activity was unchanged in September 2017 compared to 2016. This is compared to a 12% increase a year ago against 2015. Still, the number of purchase contracts was the most for the month of September since 2005. Overall home sales have increased in New Jersey by 5% y-t-d.
ALL NJ Unsold Inventory has fallen to the lowest level in the past 12 years, 42% below the high in 2011. Today's unsold inventory equates to 4.7mo of inventory compared to 5.4mo a year ago, showing high demand.
The largest gain in # of Home Sales occurred for homes priced above $2.5M, rising by 14% - for the first time in more than a decade. Homes priced below 600K have seen the smallest increase, mainly due to the lack of inventory.
Bergen County NJMLS reports that ending September y-t-d Residential Closed Sales increased by 4.9% compared to the same 9 months prior. The y-t-d Pending Sales increased by 3.2%. But for the month of September alone Pending Sales decreased by 3.9% and Closed Sales decreased by 2.3%, indicating an early fall slowdown. Overall, activity was up: NJMLS.com hits were up by 6.8%, Open House Counts were up by 17.4% and Agent Showings were up by 4%. The Average Days-on-Market dropped by 11.8% to 67 days compared to September 2016. Inventory was lower with 17% less active listings at the end of September. While homes are selling faster than last year, now less Buyers are purchasing in the fall and start pulling out of the market for the holiday season earlier, mainly due to the frustration about the lack of inventory. Consequently, the market remained in favor of the seller in September with 3.9 months of inventory down by 20.4% compared to the prior Year (4.9mo). (<5-6mo = seller's market and >5-6mo = buyer's market). Train towns see an even stronger trend.
The Unemployment Rate has fallen to 4.2% down by 20 basis points from last month. And as a signal for more good things to come, both Main Street and Wall Street are upbeat with the highest consumer sentiment since 2004 and stock prices at an ultimate high ... resulting in pent-up demand and multiple offer scenarios in the upcoming spring market of 2018.
The Average Loan Commitment Rate for a 30-year fixed rate loan has remained below 4% for 15 consecutive weeks, but rose recently to 3.94%. Rising home prices and rising interest rates will add to the pressure buyers will feel in 2018.
Buyers may soon find that the house they were able to afford but did not buy in 2017 may be out of financial reach in 2018.
Looking ahead, it is likely to see more interest rate hikes. That would mean that the interest rate could increase by a full 1% within a 12 months period, thus reducing the buying power of home buyers by 9% exactly. Interestingly, as mentioned above, this would not have a dramatic effect on home prices but rather on the volume of sales.
*Keller Williams Realty received the highest numerical score among full service real estate firms for home buyers in the proprietary J.D. Power and Associates 2012 Home Buyer/Seller Study SM . Study based on 2,994 total evaluations measuring five firms and measures opinions of individuals who bought a home between March 2011 and April 2012. Proprietary study results are based on experiences and perceptions of consumers surveyed March-May 2012. Your experiences may vary. Visit jdpower.com .
Specializing in Allendale NJ , Franklin Lakes NJ , Glen Rock NJ , Ho-Ho-Kus NJ , Mahwah NJ , Midland Park NJ , Oakland NJ , Ramsey NJ , Ridgewood NJ , Saddle River NJ , Upper Saddle River NJ , Waldwick NJ , Wyckoff NJ , Fair Lawn NJ , Oradell NJ , Paramus NJ, River Edge NJ , River Vale NJ , Teaneck NJ , Hillsdale NJ , Montvale NJ , Park Ridge NJ , River Vale NJ , Washington Township NJ , Westwood NJ , Woodcliff Lake NJ