Steven Merlo's Blog Posts

September is a great time to get out and explore Union County. The summer heat begins to ease, fall activities start appearing on the calendar, and many of our downtowns, parks and community

If you've been thinking about selling your home in New Jersey, you may be wondering whether you should list now, wait until fall, or hold off until next spring.It's a common question, but there isn

The Scotch Plains housing market remained active in June 2026, with rising home prices, strong buyer demand, and a significant increase in completed home sales.The median sales price climbed to $1

How is the Scotch Plains housing market performing in 2026? Our latest market update reveals several important trends that buyers and sellers should know.Through May 2026, the median sales price in

🌞 Welcome to Summer at the Jersey ShoreThere’s a reason generations of families return year after year to the New Jersey Shore. Stretching roughly 130 miles from Sandy Hook to Cape May, its

Calling all onion aficionados! June 22nd marks National Onion Ring Day, a day dedicated to that crispy, golden-fried masterpiece – the onion ring. Here in New Jersey, we know a thing or two

Selling your home can be an exciting time, but it also comes with its share of tasks. Before you list your house and open the doors to potential buyers, there are some key steps you can take to make

Union County, New Jersey, nestled amidst the bustle of the New York metropolitan area, offers a unique blend of suburban charm and urban access. Whether you're a young professional, a growing,

Buying a home is likely the biggest purchase you'll ever make. It's exciting, nerve-wracking, and involves a complex web of negotiations, paperwork, and inspections. While online listings and

Is Now the Right Time to Buy Your Dream Home?The question of whether to buy a house is a big one. It's a decision that impacts your finances and lifestyle for years to come. While the real estate

New Jersey's residential real estate market has been a whirlwind in recent years. Low inventory levels have been a constant theme, creating a competitive buying environment for those seeking their

So you've set your sights on homeownership – congratulations! But a good credit score is essential to secure that mortgage. Don't worry, even if your credit history is thin, there are steps

Existing-home sales increased slightly in May, even as buyers continue to face severely limited options on the market. Total existing-home sales—completed transactions including single-family

Sales of previously-owned homes in the U.S. fell 3.4% in April for the second month in a row, as buyers continue to deal with low levels of home listings and see-sawing mortgage rates.  Read

Happy Holidays from everyone at NextHome New Prospects!

If you’re looking forward to next week’s Macy’s Thanksgiving Day parade, you should give a nod of thanks to onetime N.J. resident Herbert Nathan Straus. His family owned the

As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially

Just a year ago, homebuilders were overflowing with new contracts and, at times, raffling off their few remaining lots to wait-listed buyers. But since then, buyer traffic has slowed significantly

Inflation is pushing up homebuilding costs at an unprecedented rate, according to Bank of America’s Who Builds the House? report. Supply-chain disruptions and labor shortages are adding

Inflation is running at a 40-year high, and more Americans are feeling burdened and rethinking financial plans. Inflation is currently at 8.3% and Americans are facing higher prices for food,,

With moratoriums in place, foreclosures were nearly non-existent last year. Even as pandemic protections have lifted, a foreclosure wave—which was an industry concern—has not occurred.  Read

If you are looking for a Windows application that allows you to download YouTube videos to your computer, I would highly recommend 4K Video Downloader.  I have been using it for a few years and

Rents have been surging. Since January of this year, the national median rent has climbed by 16.4%, according to the latest National Rent Report from Apartmentlist.com. Rents aren’t slowing down

Most Americans want to own a home at some point in their life, and they say they’re willing to make sacrifices to achieve it. For some, that means forgoing alcohol or vacations for a year to save.

Prices for building materials have climbed 19.4% over the last 12 months, increasing 13% in 2021 alone, according to Bureau of Labor Statistics data.  Read.

As home listing prices break another new record, more homeowners are looking to take advantage and list their homes for sale. New listings in June rose 5.5% year-over-year and are up 10.9% over the

In the frenzy of the hot housing market, more buyers are being drawn to older homes for their historic charm. But where are older homes best available exactly?  Read.

The big question since the pandemic: Will workers return to the office or is remote work here to stay? Already, some commercial forecasters are surprised by the reversal of what they thought would

The U.S. housing market is on a hot streak with double-digit annual gains in home prices, bidding wars, and surging buyer demand. That type of soaring housing market is prompting more “bubble�

COVID-19 restrictions last year led to many seniors feeling cut off and unconnected as they sheltered in. Now, many senior living condo and apartment operators are using digital services to help

The pandemic is exacerbating a crisis for middle-income frontline workers searching for homes, according to a new study from the Urban Land Institute’s Terwilliger Center for Housing.  Read.

Home remodeling has surged since the pandemic began, but many of the projects initially were smaller in scope. That is reversing as homeowners decide to go bigger with their renovation plans and

Home maintenance affects value over the long run. Yet, homeowners admit they know very little when it comes to how to properly maintain a lot of the appliances and systems in their home.  Read.

Despite a surge in buyer demand, fewer new homes were built in January. Builders blame rising material costs.  Read.

About one-third of multifamily building has moved to low-density markets in the suburbs and exurbs, which are seeing populations increase faster than are city centers over the past year, the

As home prices rise, home buyers are having to borrow more. The average amount for a mortgage on a home purchase recently surged to an all-time high of $395,200, the Mortgage Bankers Association

Wireless companies are installing boxes in front of homes as part of their 5G network rollout. But homeowners aren’t pleased, calling the chest freezer–sized boxes a big eyesore in their front

Builders are less confident about the outlook in new-home construction than in recent months due to a major surge in lumber prices and COVID-19 cases across the country. But buyer demand for new

About half of Americans say they’re considering a move in the next year, according to a study from LendingTree. But where do they plan to move?  Read.

2020 was a year of home renovations. As more homeowners spent time at home, they devoted themselves to sprucing up their nests. Kitchens, outdoor areas, and home office updates were all among some

Multi-zone kitchens, upgraded lighting, and oversized rectangle tiles are among the trends sweeping home design in the new year, according to home design website Houzz. The online resource recently

As people rethink how they use their homes, some design trends that were popular in recent years are quickly fading. For example, the open layout is becoming less trendy as homeowners favor more

All-cash deals are rising in certain areas of the country, comprising about 36% of the market nationwide, according to data from realtor.com®. Buyers who can pay all in cash are finding themselves

Homeowners are enjoying their property’s outdoor space more during the pandemic, and house hunters are paying particular attention to outdoor features as they evaluate homes to purchase. Landscape

Pending home sales dipped slightly last month but continue to remain elevated compared to a year ago, the National Association of REALTORS® reported Monday. NAR’s Pending Home Sales Index, a

While homeowners may be feeling more neighborly, they also are seeking greater privacy and security. That has sparked an increased demand for residential fences.  Read.

As the pandemic continues, more home buyers are looking for properties that can house their older family members. The goal for these buyers is to keep their aging family members out of seniorâ€

Certain housing trends emerging from the pandemic likely will outlast the virus, real estate professionals predict. “The idea of what is necessary is changing,� Camille Thomas, a real estate

With low housing inventories and high buyer demand, home sellers are expected to continue to command higher home prices this winter—an unseasonable trend in the housing market.  Read.

Fast Company is calling patio propane heaters the “new toilet paper� of pandemic sales. That’s because heaters are flying off store shelves at record speeds as homeowners look to extend their

Buyers are up against a limited number of homes for sale available on the market. They continue to quickly pounce on whatever is available. The National Association of REALTORS® reported Thursday

Paint firms are continuing to release a range of colors as their picks for the hottest hues of 2021. Benjamin Moore is the latest in announcing its choice: “Aegean Teal,� its top color pick for

More homes are gradually coming onto the market in a hopeful sign that homeowners may finally be warming up to the idea of selling, according to data from realtor.com®’s latest Weekly Housing

Young Americans are having their housing preferences shaped by the pandemic. They’re seeking larger homes and outdoor space, yet in walkable areas, according to findings from the 2020 Community

Forty-three percent of 30-year mortgage holders are eligible for a refinance that would lower their mortgage rates, a new study shows. That means their credit rating is at least 720, they have at

Millennial home shoppers are quickening their homebuying timelines due to the COVID-19 pandemic, according to a new survey by realtor.com® and HarrisX of 2,000 buyers. Born between 1981 and 1997,

Bathrooms tend to be smaller spaces, making it easier for house hunters to miss things during a virtual tour. Potential problem areas may require further inspection. Sometimes real estate pros need

As long as the proper health precautions are in place, seniors say, they are willing to resume home searches and purchases, a new report from John Burns Real Estate Consulting shows. Several age

Real estate is popping up in more people’s dreams. Vivid dreams are one of many side effects being tied to COVID-19. And reportedly, many of these “quarandreamers� are having dreams related 

The pandemic has inspired a wave of home renovations as owners are spending more time in their homes. And renovators say it’s been good for their mental health, according to a new study conducted

Single-family landlord giants are expecting a surge in repossessed homes as millions of homeowners have fallen behind on their mortgage payments and may be at risk of losing their homes once

Empty nest no more? The COVID-19 pandemic has prompted millions of young adults to move back in with their parents since the spring. The majority of 18-to-29-year-olds now live with their parents,

From June to July, median sales price rose by 8.5%, more than double the 4.1% increase seen in family income levels, the National Association of REALTORS® reports. But mortgage rates that have

Home stagers strongly advise sellers to declutter when prepping their homes for sale. But a new home design trend sweeping social media likely will have stagers aghast. Meet “cluttercore�—the

The number of homes for sale nationwide is in record low territory. When the pandemic hit, many homeowners took their homes off the market and many are still waiting to sell. That has created a

New homes have gotten larger, many with a room dedicated to each family member, plus a guest bedroom. On the other hand, apartments are feeling more cramped.  Read.

The government is trying to change regulations so that showers can spray more water. The Department of Energy recently announced a new proposal to change how much water a showerhead can release each

The pandemic is ushering in an era of cozier vibes in home decor. As more people stay home due to COVID-19, homeowners are looking for ultra comfort in their nests.  Read.

Mortgage rates remain near all-time lows, and many economists believe they will stay for the remainder of this year and well into next year.  Read.

A recent spike in softwood lumber prices is contributing to the increased average price of a new single-family home, the National Association of Home Builders reports.  Read.

Existing-home sales soared 24.7% in July, outpacing their record growth of 20.7% in June, when the nation’s economic reopening ignited homebuying activity, the National Association of REALTORS®

Listing agent Rachelle Rosten of Douglas Elliman told The Wall Street Journal she was shocked at the intense level of buyer interest in a mid-century modern home, the exterior of which appeared in

Mortgage rates inched up slightly this week but still remained near historical lows. The 30-year fixed-rate mortgage averaged 2.96% this week, up from last week’s record low of 2.88%, Freddie Mac

Nearly every major metro area across the country saw home prices continue to escalate in the second quarter. Median single-family home prices increased year over year in 96% of measured markets—or

The Federal Reserve voted Wednesday to keep its benchmark interest rate near zero. This will keep the cost of loans down until the economy starts to recover from the COVID-19 pandemic. The Fed also

The pandemic and high unemployment rate haven't slowed the housing market. With home buyers facing heightened competition this summer for a limited number of homes for sale, some have decided to try

While unemployment remains high and the economy continues to suffer from the COVID-19 pandemic, the housing market is proving resilient. During the second quarter of this year, home sellers netted a

The COVID-19 pandemic has prompted many residents to rethink their home and priorities, nudging some residents to leave city abodes in favor of the suburbs and more space. With a limited number of

Millions of Americans have relocated this year due to the COVID-19 outbreak, according to the Pew Research Center. New data released this week shows that 22% of Americans either moved or know of