Get Ready Because Inventory Is Coming

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Get ready because inventory is coming but so are more buyers.  We’re having a rough weather start to the 2022 real estate market in Bergen County homes.  We’ve had freezing temperatures, a major snow storm and icy conditions. While it’s been a rough start, the activity level hasn’t slowed down.  Inventory remains extremely low.  It’s still around 715 homes for sale in all of Bergen County.  That’s less than half…

The Covid Effect on Real Estate This January

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The covid effect on real estate this January is slowing things down.  While this is bad news for home buyers, it’s an exceptional opportunity for homeowners. We are bombarded with Omicron news every day.  Covid is everywhere.  Hospitals have record number of admissions.  Omicron is so contagious that you must have a 95 level mask and pray you don’t get it.  Numbers are rising.  You can’t find enough workers because…

Data Driven Real Estate Market Analysis

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I thought I should do a data driven real estate market analysis for you.  My previous article, The 2022 Real Estate Market for  Bergen County Homes, was done in a narrative format.  Because of this, I thought those of you who are data driven would appreciate a statistical approach to analyzing the market. Nothing has changed since I wrote my market analysis article on January 6th.  The Senate held confirmation…

The 2022 Real Estate Market For Bergen County Homes

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The 2022 real estate market for Bergen County homes will be unique.  This is because in some ways it’s going to be like 2021 and in others, not at all. This blog has given you a statistical breakdown of the market every January.  It seemed to me, however, that this year required a different approach.  Hopefully this take on the 2022 real estate market for Bergen County homes answers all…

Emerging Trends for Bergen County Homes

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Emerging trends for Bergen County homes confirms my earlier suspicions.  While nothing major is happening, it’s  becoming more and more apparent that the market has shifted. To understand what’s happening, let’s go back to what I have in a previous article and look at market data.  I’m going to use 2019 comparative dat because it’s the last normal market we’ve had. The Fed and Rates In a recent article  I…

Where Are Bergen County Homes Now?

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Where are Bergen County homes now?  We’ve just begun the last quarter of the year so it’s time to take a good look. 2021 makes sense because we haven’t had unusual circumstances.  There was no lockdown.  Most of us are vaccinated.  People are more accommodated to Covid.  Many businesses and restaurants have opened up.  A lot has returned to normal as a result. The New Jersey MLS I use data…

What Do Higher Rates Mean For You

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What do higher rates mean for you?  Does it even make sense to talk about this now?  After all, while rates sometimes rise, they reduce a few days later. However, change is coming.  Because the future will be different,  I believe the time is now to discuss this. Expect mortgage rates to be higher next year.  Let’s talk about why this will happen and what’s best for you. The Fed,…

What You Need To Know About Title Insurance

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What you need to know about title insurance is a lot.  What is title insurance anyway?  To put it in one word, it’s safety.  I believe that title insurance is one of the most misunderstood aspects of home buying. Let me ask you this. How many of you hear about title insurance while you’re looking for a home?  I doubt you do.  Because agents are not really taught about it,…

You Won’t See A Market Like This Again

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You won’t see a market like this again.  You can bet on it because real estate is based today on extraordinary circumstances.  I believe it’s not going to last long either. What’s so unusual?  The answer is nearly everything.  To say that the real estate market is anything but bizarre is missing the point.  You don’t want to make mistakes now or be left in the dust when it changes….

Bergen County NJ Homes Report

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It might seem early for a Bergen County NJ homes report since we’re only 60 days into 2021.  However the market has revealed itself already in several ways.  Let’s take a look at the following: 1.  New Listings 2.  Under Contract 3.  Fall Through Rate 4.  Absorption Rates   New Listings Bergen County NJ homes are not in good supply.  I thought 2020 was a problem because the inventory of…