Real Estate is Changing

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Real estate is changing.  It’s been happening for a while but most people haven’t noticed it.  We are in the very early stages of a transition and that’s good. The housing market is cyclical.  There are times when prices go up and times when prices go down.  The long term trajectory is always up but moderately.  We’ve been up for nearly 10 years now. We’re still in very positive territory. …

Otteau Market News

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Jeff Otteau is someone I have the utmost respect for.  If you have been reading my blog you know  this.  I have quoted him before and referred to his terrific reporting service.  Jeff is considered one of the most astute analysts of the New Jersey housing market.  There is no other real estate market reporting service like his.  I love his market newsletter  It analyzes what’s happening.  His Market Trac…

Bergen County Real Estate Has Stabilized

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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…

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…