I don't need a crystal ball to tell me that there is activity in a price range, and not in others - 'up to $500,000' a buyer tells me - and will look in MOntlciair, Glen Ridge, Bloomfield and West Orange - it IS a buyer's market - which means there are a lot of houses to choose from -it does not mean that the buyers have a choice of houses - and they can offer what they want for them! The real estate 'gurus' Zillow and Otteau, use un documented statistics for their 'spread sheets' and come up with a universal prediction -the mid-west is not the north east - A house in Missouri at $275,000 would cost $600,000 for a comparable prop erty in this state - The interest rate is still under 6% and the tax credit is a big lure for buyers at this time - to close before November 30 is the aim to benefit from this credit - there are income limits - but to many buyers this will be a huge benefit.
Houses in the higher price range are having fewer showings - but it just takes one relo to see a property - and that could be the sale! That's why sellers have to be prepared at all times to let agents show their properties - even if there is a barbecue or birthday party going on - they might like that too!
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