The future of housing is positive because of several fundamental reasons. While the US economy is officially in a recession, this recession is very different. This Recession is Different How do you define a recession? When you have 2 consecutive quarters of negative economic growth you’re in a recession. This one, however, is different. Begin with the fact that it’s man made. There was no structural economic reason for this;…
Posts Tagged: housing market
Sold Report for Bergen County Homes
If you look carefully at this data from the New Jersey MLS you’ll see that higher priced homes sold well.
Bergen County Real Estate Has Stabilized
Bergen County real estate has stabilized. This was my projection last year and I am very happy to say that I was right on target. What I’d said and written was that by the end of 2009 the market would stabilize. It has done exactly that. Our housing market is improving. New Jersey MLS data, bank appraisers and housing reports all say the same thing: We have clearly bottomed out and…
Is the $8000 Tax Credit Causing Buyers to Overlook Even Better Short Sale Opportunities?
There are many homes for sale with steep discounts because they are a short sale and you may find a house that is a better “fit” for you in a short sale than trying to buy a home that you really don’t love just because of the tax credit.
Real Estate Recovery Signs – Foreclosure Rates Are Down in NJ
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…
Stop Foreclosure with a 125% Loan Modification
Bergen County homes have done better than most housing markets in the US. They may have done better but they have not escaped the economic collapse. As a result our home values have depreciated over the past few years. For many homeowners this has created a horrible situation. Their home is not worth what they paid for it. For homeowners who need to sell their home, many find it impossible…
Affordable Dumont Rocks! A Bergen County Value For Buyers
Affordable Dumont rocks! It truly is a Bergen County value for buyers. I’ll explain why. Crunching numbers to analyze the real estate market has taught me a lot. Over the years, I’ve found that the relationship between the number of homes for sale and under contract is a great indicator of how the housing market is doing. When that ratio is 2:1, the housing market is strong. Ok, I know, it’s…
The Absorption Rate and 1004MC Appraisal Report
When people decide to buy a home they naturally start to look at the real estate market, do some number crunching and find statistics which explain the market trends. Lately, a statistic on homes that’s been quite popular is the absorption rate. Absorption rates simply put tell you how long it will take to sell off the existing inventory of homes. This shows you how properties are selling; it’s measured…
The Spring Market is Accelerating
The spring market for homes in Bergen County really feels like it’s accelerating. Let’s check it out and see what’s truly happening. Since the beginning of March the housing market for homes in Bergen County has really picked up. Because we are now nearly through April, I thought that I would take a look at the MLS data. I want to see if what I’ve been sensing is really happening. I…
How to Handle the Bergen County Housing Market
“How’s real estate and what should I do?” I am receiving so many calls and messages like this that I thought I should post some answers. It seems that real estate is on everyone’s mind lately. Let’s find out how to handle the Bergen County housing market. Here’s something to consider: A primary motivating factor for most people is simply because it was the right time. So ask yourself this…
