Should I Buy A House Now Or Wait Untill The Market Cools?

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Should I buy a house now or wait until the market cools?  This question is one that I hear every day.  Prices are sky high.  Interest rates are up 1 percent.  The Fed is beginning it’s tapering program in another week.  Rates will rise further.  There will be an inevitable pull back.  Pricing should come down. All of this is why people ask me “Should I buy a house nor…

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…

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…

Where is real estate heading?

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Where is real estate heading?  Is the market going to crash?  Should I buy a home?  Should I sell my home?  These are questions I’m hearing more and more lately. Although we are being bombarded with happy reports,  there are also definite signals that change is coming.  What everyone wants to know is when will the market change and how much will it change. Real Estate Market Signals 1. The…

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,…

Real Estate Is Not Slowing Down

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Real estate is not slowing down because a lot has changed fundamentally. New Jersey MLS We’ve had low inventory for quite a while.  Every year it gets worse.  2020 is is the worst ever.  Right now as I write to you, we have 1,910 single family homes on the market for sale.  While nearly 2,000 homes for sale might seem like a lot to you, it’s not.  It’s roughly half…

Bergen County Through August

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Looking at Bergen County through August tells us two things about the real estate market here.  Most importantly the market has fully recovered.  Also while it seemed at times over heated, we’re moving forward conventionally. New Jersey MLS Sales Using the New Jersey MLS Comparative Report, I can compare one year to another.  Because sales figures are not enough, I also look at under contract figures.  Using both gives you…

June Sales Showed A Strong Recovery

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June sales showed a strong recovery according to data just released tonight by New Jersey Realtors.  I’ve been using their housing data for years and June’s real estate market report is very encouraging. Monthly Indicator Report Published every month, the Monthly Indicator Report is an excellent snapshot of how the housing market is doing.  Figures are for 1 year back (Monthly Snapshot) and a comparison to the month before (Indicator…