Spotlight on . . . Eugenia France

Veteran real estate professional Eugenia France joined Cedarcrest Realty in November 2019 and is already making her mark in terms of transactions at our agency. Eugenia, who came to the U.S. in 1987, has been working in real estate since 1992 and according to broker owner John Sass, “Eugenia’s experience really shows. She has already done half a dozen transactions to date, with two currently under contract. She knows the system and comes to work every day ready to get things done. We’re delighted to have her on the Cedarcrest team.”

And this is with Eugenia, a native of Brazil, spending several weeks visiting family in her home country!

Early in her career, she was at another CENTURY 21 office, working with home buyers and sellers primarily in Belleville, Bloomfield, Glen Ridge, Newark, and Nutley. It was there that she first met John, who at the time was doing training and recruiting for the system. She was most recently with a brokerage in Newark and although she was the top producer there, she was not happy with the work environment and decided to make a move last fall. She came across John’s name and contacted him to find out if there were any opportunities at CENTURY 21 Cedarcrest.

As someone who has been self-employed since coming to the States, Eugenia said real estate appealed to her because, “You can make your own schedule and develop a business. I enjoy dealing with people and making them happy when they find the right house—and it feels great when that happens. But it’s also a great feeling when those customers refer me to someone else; it means I’ve done a good job.”

Although she’s done some commercial real estate work before, Eugenia prefers residential real estate. “You participate more in the residential transaction and I like guiding the contract process, which I didn’t get to do as much in commercial deals.”

Of her decision to join the Cedarcrest team, she said, “It’s a much nicer workplace; people treat each other well, John respects his team, and there are opportunities to grow here.” She works in our Caldwell office-and we’re glad she’s there!

Spotlight on . . . Armand Michael DiVirgilio

After 30 years in the field of facilities engineering and asset protection, Michael DiVirgilio felt it was time to start a new career. Taking his in-depth experience in commercial and industrial properties, he brings fresh insights into his work today, working with residential and commercial real estate buyers and sellers.

“There are a lot of things I see right away when I walk into a home or a commercial establishment,” said Michael. “I’ve covered many aspects of facilities and property management, so my prior career brings additional skills and knowledge to my real estate clients and the Cedarcrest team.” He also has firsthand experience remodeling several homes, so he’s always looking for the positives and the potential negatives in a property he’s showing.

Michael moved to New Jersey from Florida with his wife back in March and obtained his real estate license in New Jersey and New York in April. (He is also a Florida State licensed community association manager and a New Jersey notary public.) He began his real estate career at a small office in Tenafly but after he and his wife bought a condo in Bloomfield, he looked for an agency closer to home. He’d met Tom Siso, a CENTURY 21 Cedarcrest Realty agent, during the condo-hunting process and Tom introduced him to broker owner, John Sass.

“I really feel like a part of a great family here; the people are fantastic,” said Michael, who works out of our Caldwell office. “Cedarcrest Realty is well structured and organized and John and his team care deeply about the clients they serve.” Having served in the U.S. Air Force after high school, Michael appreciates the structure at the brokerage. “I’m glad to be in this tight-knit, family-feeling organization.” From a large family himself, and with seven kids, it’s no wonder that the family feeling at CENTURY 21 Cedarcrest was a pull for him.

Michael said he was drawn to real estate sales because, “It allows me to help people find that perfect home. I love working with people and seeing that expression on their faces when you show them a place that’s the right fit. Seeing them light up like that brings me tremendous satisfaction. I’ve always been about helping people.” That helping spirit is reflected in the community service work he and his wife do in soup kitchens and through other charitable endeavors.

He’s enjoying learning from the Cedarcrest Realty team and appreciates the ongoing training available in the office. “I have more to learn and there are great people with a plethora of knowledge that they’re sharing,” he said.

On the Market for a Home? Here are Five Considerations Before You Buy.

Are you a first-time home buyer? If so, here are five issues into consideration as you engage in your house hunt. Doing so will help avoid surprises that could bog down your transaction.

Is now the right time for you to buy?

This depends somewhat on your career situation. According to the Bureau of Labor Statistics, the median tenure of workers of ages 55 to 64 is 10.1 years, while for workers ages 25 to 34, it is only 2.8 years on average. If a distant job relocation is in the foreseeable future or career advancement is likely to take you out of the area, consider remaining a renter for now. Conventional wisdom is that you need to stay in the home for at least five years in order to recoup the amount of money you spent to purchase it.

Identify your housing criteria

Do you have a “dream home” in mind? Are you willing to modify your dream? After all, no house is totally perfect. We suggest you:

  • Create a list of absolute musts and reasons why—such as the town (for the school district, town services, property tax rate, environment), style and size of house, proximity to work, public transportation, etc.
  • Be flexible. Cosmetic updates may be needed in an otherwise great house so don’t let those deter you. If you like a house that needs a lot of work but has great bones, ask if the selling price is negotiable enough to make a reasonable offer.

What can you afford—including closing costs?

Set yourself up for success by first developing a budget that includes how much down payment and monthly mortgage payments you can afford. Then, look at the closing fees you’ll have to cover at time of loan settlement. These are fees paid to various third parties as part of expediting and closing the transaction.

As the home buyer, you are expected to cover most of those closing costs (3-4% of the home’s price) compared to what the seller will. Included are:

  • Title company closing fee for the representative who supervises the title transfer
  • Title search – this ensures there are no liens on the property to prevent you from buying it
  • Lender’s title insurance – protects the mortgage lender if something was overlooked in the title search
  • Document recording fees (deed and mortgage)
  • Loan origination fee – paperwork processing
  • Home appraisal
  • Home inspection
  • Survey fee (single-family homes, townhomes)
  • Escrow deposit – usually covers two months of prepaid property taxes and mortgage insurance payments
  • Taxes on money you borrowed for your home loan
  • Discount/mortgage points – paid to your lender in exchange for a lower interest rate, which has great long-term value
  • PMI, or private mortgage insurance, if you put down less than 20 percent of the purchase price
  • Other fees include running your credit report, underwriting and assessing your creditworthiness, wire/courier fees, attorney fees, and real estate agent commission

Federal law mandates that mortgage lenders provide borrowers with a loan estimate form in advance of the closing, denoting all the approximate closing costs. You may opt to roll the closing costs into the mortgage, but you’ll be paying interest on that amount for the life of the loan.

NOTE: If buying a condominium, get as much information as you can about the homeowners association fees/common area charges, the regulations regarding home improvements in your unit, and the association’s track record on maintenance and repairs.

Check your credit report

As noted above, the lender will be doing so and so should you. Contact Equifax, Experian and/or TransUnion for your free annual report. You want your credit score (FICO score) to be high enough to qualify you for a favorable rate. Clean up any outdated or incorrect information you find on the report right away. Scores in the 750-850 range are considered excellent, 700-749 is good. Anything below 650 is considered poor, making you a credit risk in lenders’ eyes.

Work with CENTURY 21 Cedarcrest Realty

Searching for a home—whether as a first-time buyer or a seasoned residential real estate owner—is exciting but with all the details, it can be bit daunting and time-consuming. At CENTURY 21 Cedarcrest, our real estate professionals are dedicated to producing the best outcomes for every customer. When you work with our team, you’ll be with people who work tirelessly to help you navigate your real estate experience—with enthusiasm, confidence, and a passion for superior service—all backed by the industry-leading CENTURY 21® system and tools.

Contact us to get started on your journey to home ownership, or to find your next great home. We’re specialists in Essex County and Passaic County, NJ, and represent buyers and sellers from municipalities throughout North Jersey.