Buying and selling in NJ’s Hot Spring Months

Covid changed all the parameters of buying a home. Windfall for the Sellers while it lasted but are we now headed towards a Buyers market? A market where home sellers are desperate for buyers? Inflation signals that we are expecting pretty dramatic interest rate increases. Based on everything I am reading about, the numbers are pointing towards an inflation up to 6% over the next three years. Of course there are many factors that will influence this happening but it is expected. I hope we are back down to 3 to 4% in 7 years. But I am not a gypsy and do not know how to use crystal balls. I can only translate the numbers and advise accordingly. Covid did bring light to the maximum value of each neighborhood. There was so much frantic buying in the first year, some suffered buyers remorse for paying $100,000 or more over appraised value (what the bank says it is worth), many did over pay but ended up breaking even with their properties still increasing in value. Our market is still active with multiple offers within days on most homes for sale but we are now clearly aware of a neighborhoods maximum value cap. Educating Buyers and Sellers on this data that determines market value is vital to maximizing return on your sale and drawing the line as a buyer. From Union to Monmouth / Ocean Counties, Hunterdon to Somerset, Morris to Summit, where ever you call home we know the max value potential your property has.

No obligation, do not hesitate to have a conversation to find out more. Call me to find out how I can maximize your home Selling and Buying experience. I can sell your home for more money with less stress in less time. Find out more call me today. Greg – 856-332-5747 – RE/MAX SELECT of Westfield.

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