Real Estate in New Jersey
Real Estate in New Jersey
is a very valuable commodity.
Whether you are referring to North NJ, Central NJ or South
NJ; real estate in New Jersey has a tremendous amount of
value. This is if you are interested
in selling or buying.
This is from a recent article from
Courier Post
New Jersey
becoming a homebuyer's market
Wednesday, May 17, 2006
People who closely watch real estate say New Jersey's market is starting to shift
to the buyers' advantage.
New data out this week from the National Association of Realtors show
sales of existing homes slowed in the first three months of 2006, though
prices were still up significantly compared with last year.
"The rapid erosion in housing affordability, as mortgage rates
increase and as house prices have escalated rapidly over the past few
years, is constraining the demand for housing," said Celia Chen,
director of housing economics at Moody's Economy.com, a research company in
West Chester, Pa.
The National Association of Realtors' data said 8.1 percent fewer homes
sold in New Jersey
in the first quarter of 2006 than in the same period a year earlier. .
Tip #23
Home Buying Tip, Big Ticket Items:
Before you buy a home
you should avoid buying any big ticket items. When this is found out during the
credit process or reporting it can make mortgage banks nervous.
Even if you will be able to get a loan, you might not be able to get
the best available interest rate.
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Tip #24
Home Selling Tip, Listing Right:
A common mistake when people list their house (especially in a
buyers’ market) is list the house at a high price that they
don’t anticipate to sell it at.
They figure that if they get it then GREAT but if not they can
always lower the price.
This is not a good practice because what mostly happens is it will
stay on the market for a while and make potential home buyers nervous because
it’s been on the market so long.
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