May 28, 2018
The New Jersey spring market is blooming into a busy and productive season despite the inventory concerns. Don’t be fooled by negative headlines– houses are selling and they are selling FAST in most of our suburban areas.
We are experiencing a unique market that has what everyone is looking for whether buying or selling!
What makes a Buyer’s Market:
Buyer markets are created when, thanks to inventory and demand circumstances, buyers are exerting greater control over selling prices. In the luxury home price points this is what we are seeing.
Some strategies buyers say they are employing include:
- Putting down 20% or more or offering a full cash deal
- Those who don’t have the all cash option available are offering above asking price
With so many great neighborhoods to choose from how to determine the right one for you?
The factors that influence a home buyer’s decision to buy a particular house in a particular neighborhood are very similar across demographic groups. We all want to live in a safe neighborhood with access to things we want and need, like recreation and health care providers. However, depending on which stage of life a buyer is in, there are some are other neighborhood features, like schools, parks, walking trails or other amenities that may appeal more to one group over another. Take a look at the short description for each of these terrific communities and find the one that best suits your lifestyle!
What makes a Seller’s Market:
Tight inventory and high demand tend to put a seller in the driver’s seat concerning sale prices. This is mostly the case in the case of what we might call the starter home price point. It seems every neighborhood is bubbling over with eager buyers! In fact, according to a recent survey, home buyers say they are checking online listings every day and 40% say they have a plan in place to beat back competition for their dream home.
Is there good reason for a seller to make their move now?
Home prices have been moving steadily upwards for some time now and every indication is that they will continue their winning ways, pushing onward and upward for the foreseeable future. With an ever strengthening economy, historic low home mortgage interest rates and in some areas a serious lack of supply it’s proving to be a trifecta for high buyer demand and increased home sale prices.
Even though online resources make the home search process more efficient, it can’t replace the confidence gained by the tangibility of dealing personally with a professional who brings expertise of the local market to the table. For the majority of us the mortgage and home buying process still carries enough complications that we want the comfort of a combination of online resources and professional guidance. This combination is the winning mix for successfully selling and buying a home in the New Jersey real estate market.