Scott Selleck walks through a free annual home equity report for New Jersey homeowners. It shows your actual equity after closing costs, the state's graduated transfer fee (up to $11,500 in the example), and capital gains owed ($54,610). The report tracks ten value drivers you can control and three pricing paths based on taxes and maintenance.
Chapters
Hi, my clients have been asking me for more expansive, accurate home equity report that they can review once a year to keep track of their home equity position. I'm happy to report that I've created such a report. To give them a full appreciation of— to give you guys a full appreciation of what's inside, I created a case study with a fictitious address and home values so my clients can have a full understanding of the complimentary Personalized report and their home equity position. Every day my clients tell me they get information from automated home prices algorithms from different websites. It gives them a guess or a range, but it's not really the number that at the end of the day that's the most important. The first page of this section of this report is built to give them a better, clearer picture, taking into consideration traditional closing costs and And adjustments. Page 2 of the annual home equity report is the net sheet. It names the New Jersey graduated percent fee, $11,500 in this example case study, which becomes the seller's cost in July 2025. Often a property owner who decides to put their home on the market above $1 million doesn't even hear about this cost to the closing table and gets kind of surprised. Then it does the thing that no website does. It works on the capital gains position for you. And tells you the exact figure of the documented improvements that brings the gain under the exclusion. In this sample, it's $54,610. That number has a clock on it, so you got to make sure you have all your receipts documented. Page 3 shows the key indications behind the value, what each rests on, how each is weighed. 2 are recorded prices and one's an estimate, and report says so. Which is every time it's used. It also tells you where the ranges stop and why. Page 4 is the one that's worth keeping on your desk. It's 10 levers, what each is worth, and a column saying whether it's yours to move. Most of what sets your value is fixed. 2 of the 3 things are entirely yours, and one's at the top of the list, costs nothing but just keeping track of your expenses in a folder. That's right. And share the details with me once a year. Page 5 gives you 3 paths with a price on each, including the holding. The holding is not free. It costs, you know, tax bill, insurance, and maintenance every year. And the report says so. Then there's the worksheet. It's the only part where I need something from you, about 4 minutes of your time. Your numbers of bedrooms, bathrooms, breakdown of room count, for example, whether any finished space sits below grade, which is a question a lot of times agents don't ask because it depends on if it's, you know, usable square feet you can count. Your largest improvements that you did, that you did in your house over the years, and roughly the year you did them and the cost are very important. If you have a mortgage balance, that's also important. Because that turns this payoff from an illustration into an actual number breakdown. A few yeses or no questions about reduced transfer fees, including whether anyone in the house and the title is gonna be 62 years or older, because that can also affect how much you keep at the end of the day. In this example, it's $5,700 difference. None of that sits in the public record in Bergen County, which is why the reports built only from the public data cannot produce something like this. This is why 4 minutes of your time is worth it to get an accurate read. It's completely confidential. As for doing it every year, just think, 1% of this sample house, right, value is $11,500, which is the reason why you want to keep an eye on your home equity position each year. I run these reports every fall and for everybody at once after the summer selling season has closed, the comparable set, complete sales are done, and before the end of the year, you also have your receipts and you're going to be talking with your accountant. So it's a good time to have this information available. to you. The real value is in the second year one because it opens with interchange. One number, one year is a number. 2 is a trend, and the trend is something you can plan around. And this is really one of the reasons I created this asset for you report, because I want you to be able to plan accurately. And the plain vision, this is one of your largest assets most people don't even think about. It's pretty important to keep on track of these things. And, you know, because not a Not a lot of people do it perfectly. A lot of times they only do it when there's a death in the family, a job change, or some situation that kind of puts a lot of stress on someone. There's no need to be doing that at those times when you could be sitting with a cup of coffee on a Sunday, spending 4 minutes, and just give me the information. This is a competitive market analysis. It's not an appraisal. I'm not an appraiser, licensed appraiser. I'm a licensed real estate agent, and I'm not a tax advisor. I recommend you reviewing this information with your accountant and your attorney for completeness. If you So I want this reply with your address. That's, that's enough to get things started. There's no listing conversation attached to this, no obligation, no pressure. But what it is, is my way to add value for you and to be there once a year to help check and balance. And then if you find value and you decide to make a change, keep me in mind. If you know someone in your family or friends that can use this report or need help with real estate, I'm here for you. This is Scott Selleck. I'm Scott Selleck, Keller Williams City Views Realty. At 201-970-3960, and my so and my website is cellxcellsnj.com. Have a great day.
