Maplewood, NJ - A Home Appraiser’s View
see the updated 2024 post on the Maplewood tax appeal - click here
Maplewood, NJ located in Essex county is a highly desirable area to reside, but do you know how that could affect your home value?
Last year, the median home sale price was 7% higher in the spring
Knowing the real estate market can be challenging. When dealing with such high home values, hiring a professional can potentially save you thousands of dollars. This could be true if you are looking to buy a home, sell a home, or lower your taxes through a tax appeal.
There are several sections in town and when I appraise a property, it is important to try to stay within the same neighborhood as the subject property. Of course, when a property is unique, or there are limited comparable sales, I would have to search outside the neighborhood. For example, I appraised a multi family property last year and the available comparable properties were fairly limited. In general for residential properties, Maplewood typically has a healthy amount of comparable sales. When hiring a Maplewood home appraiser, make sure he/she is familiar with the market area.
Maplewood, NJ housing market statistics
Below are some housing statistics for 2018 in Maplewood
Maplewood shows signs of a healthy real estate market with the average list price to sale price ratio at over 100% over the last year. Most homes sell within the first month, however in the fall and winter, the homes are taking a bit longer to sell. Last year, the median sale price of homes was 7% higher in the spring. If you are looking to sell your property, you may consider waiting to the spring market.
Fast Facts about Maplewood, NJ
8,240 households
Approximately 24,000 residents
3.88 square miles
Ultimate Frisbee was invented in Maplewood in 1968
People are drawn to Maplewood because it has a direct train line to New York City, a downtown area with great bars and restaurants, and a suburban community lifestyle. It also has easy access to major thoroughfares like Rt. 78, Rt. 280, Rt. 24 and the Garden State Parkway. In addition, other benefits are the close proximity to the South Mountain Reservation, Turtle Back Zoo, and the Short Hills Mall. Having appraised this market for the last 14 years has given us the local expertise that you can depend upon.
Tax Appeals in Maplewood
Maplewood recently went through a tax revaluation. The taxes in Maplewood are among the highest in the State as compared to market value. Did you know of all the counties that commute to New York City, Essex county was ranked 1st as the highest paying county of real estate taxes in NJ? If you missed the boat on filing a tax appeal during the revaluation, you have another chance this year and the deadline is April 1st. I’ve been an active participant in appraising for tax appeals as well as performing expert witness testimony since 2010. With a lot of success, I enjoy helping homeowners reduce their property taxes. If you feel you are paying too much in property taxes, you will get the best results hiring an appraiser.
Maplewood home appraiser
I’ve been appraising for 17 years which means I’ve seen the market sky rocket as well as crash. Observing these conditions has given me the experience and expertise to determine fair market value. As a Maplewood home appraiser, I have experience valuing properties for all of these purposes in town. If you are in need of the fair market value of your home, we can help. Whether it is for a purchase, sale, tax appeal, estate planning or divorce, please give American Realty Appraisals a call at 908-233-1337.