Comps Don’t Work

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Comps don’t work is a true statement.  Whether you are buying a home or selling a home one thing is for sure:  Eventually a bubbly Realtor will hand you a stack of comps.  Why?  Because that’s what agents are trained to do. I guess if they trained us to give you lollipops you’d get a lot of those too.  Oh well. What’s A Comp Anyway? A comp is a comparable…

The 2017 Bergen County Real Estate Market

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The 2017 Bergen County real estate market had a unique combination of factors – zero increase in sales from the year before with price appreciation. In fact, much of what you’ll find is a mirror image of 2016. Home sales are nearly identical – 6915 in 2017 and 6920 in 2016. I think you’ll agree that when you’re talking about nearly 7,000 units a difference of 5 is nothing. Statistics…

6 Months Down – How Are We Doing in Bergen County?

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 Now that we’re halfway through the year, I took a quick look at the New Jersey MLS data.  Here is what I found for Bergen County single family homes – In spite of a woefully low number of available homes, sales are up 13% over last year (from 2,265 sales to 2,559).  A 13% gain means that demand is soaring and that’s great. Homes are selling quicker this year –…

Real Estate Recovery Signs – Foreclosure Rates Are Down in NJ

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While national foreclosure rates rose 15% during the first half of 2009, in New Jersey foreclosures are dropping. NJ foreclosures are down by 30% for the first six months of 2009 compared to the same period in 2008 according to Realty Trac. In May, the New Jersey Judiciary announced foreclosure activity for the first 4 months of 2009 was down by 20%. These figures certainly point to an improving housing…