Buying a home is often considered one of life's most stressful experiences, but a trusted realtor can significantly ease the process. To offer professional guidance, John and Genevieve Sheeran of the Sheeran Real Estate Group—who sell the most homes in both Denville and Morris County—shared their in-depth expertise and industry experience.
When is the best time to buy a new home?
Every time is the right time in this low inventory market! Historically, we see an uptick in inventory in the spring and early summer months. However, since the pandemic, new inventory can’t keep up with the demand of buyers. We ask buyers to reach out to us 6-12 months prior to when they need to close so that we aren't rushing the process. For sellers, we can help prepare to list even if they are several months out from doing so.
What’s one thing you wish every buyer knew before starting their home search?
The first step is always to call us and get pre-approved. You must know your monthly budget—this is crucial in the home search. Step two is to schedule a buyer’s consultation to learn the entire process. Work with an experienced agent, like our team. We'll game plan to get your offer accepted in this very competitive market. It's not just the price, but a strong team with a strong reputation behind you to get you to closing. Be ready to make an offer if your dream home comes up. Homes, if priced right, are selling very quickly so we want to be able to act quickly if you love something.
How many homes should I view before deciding?
Everyone is different. We've sold homes to people who have toured less than 5 homes! A few even made an offer on the very first home they saw and to this day, they still love their home. It all depends on how familiar you are with the area. If you’re from outside of the area, we should do more searching so that you can familiarize yourself with different towns and neighborhoods to find the best fit.
When should I put my home on the market?
The best time to list your home is when there is the lowest amount of inventory on the market—which is now! The "Spring" market is a myth. Yes, it’s a great time to sell, but it isn't significantly better than other times of the year. Motivated buyers are always looking!
How competitive is the Denville area, and should I be prepared to offer above asking price?
Denville is a very competitive area. Over the last 12 months homes in Denville have sold over asking price by 4.2% on average. This is why it's crucial to work with a strong real estate team that knows your market. We sell the majority of the homes in Denville and Morris County, so we have good knowledge and insight into what homes will sell for.
Are there specific questions buyers should ask about the neighborhood before committing and what red flags should they watch for when touring a home?
Ask about flood zone, HOA, noise, busy roads, lake fees/dues, and taxes. [For red flags], investment history. Was it a rental? Was it sold regularly or flipped? What is the quality of the work if it was renovated? Is there water damage or flood history?
What’s your favorite local town, and why do you love it so much?
We love Denville because it offers so many different lifestyles and communities. There truly is something for everyone. We help buyers navigate all of the neighborhoods and narrow down what may be the best fit for what they are looking for.
What’s your favorite part about helping someone find their dream home?
Getting to know our clients! We pride ourselves on becoming friends with our clients and continuing a friendship with them for years to come. It's such a rewarding part of our business. We also love strategizing on how to get an offer accepted. It's not just looking for a home but it's getting you to that closing table! Every single step is important and we're present and supportive through it all.
"Intercontinental Exchange recently came out with a study that the average homeowner with a mortgage now has $391,000 of equity in their home. Who wouldn't want that?"
"If you can't decide between two homes you love equally, make offers! The reality is that you may fall in love with many homes before you can get an offer accepted—but it always works out exactly as it should in the end."