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August 2010 – week 1 Issue
How to Successfully Sell a Home
Smart Real Estate Investments, Key to a Great Future
Foreclosure Activity Reportedly High
Home Ownership Noted to Go Down
Condominiums Find Favor with Residents
How to Successfully Sell a Home
While the market conditions of today show that selling a house can be quite difficult, there continue to be a few successful home sellers in the market. The reasons for a good sale at a good price are varied for different sellers. A house located strategically in a healthy neighborhood can sell favorably. Experts also state that good pricing of a house is a key selling ingredient too. Advertising through diverse media like the multiple listing service, internet listings and through open houses has also proved effective. Residents of homes in Tenafly and Teaneck state that presenting a well-maintained house with minimal repairs also finds favor with home buyers. As first impressions are the only impressions that count for buyers, creating a strong first impression is key to a great sale. A neat house with minimal clutter, good furniture and ambience are important factors of consideration also. A great view from the house, neighborhood amenities and pleasant manners, though often not mentioned, do count too.
Smart Real Estate Investments, Key to a Great Future
With interest rates at historic lows, now is a great time to opt for good options. Those who are planning to buy a home can use the benefits of such rates for their mortgage. This timely move can help one save a good sum of money over the long term. Real estate investments are making much more sense now as one can immediately start building equity and claim tax deductions. History is a great indicator that most Americans have made their wealth through real estate. However, given current market conditions, one should take a decision in real estate carefully. Consult realtors and real estate experts and compare the various housing markets and prices before deciding. Also when finalizing on a home partner with professionals who are involved in real estate transactions. This way you can be sure that your transaction is a sound and secure one. Also utilize information on local real estate markets, transaction processes and how to best negotiate buying terms.
Foreclosure Activity Reportedly High
Foreclosure activity was reported to rise during 2010 as the housing market continues its ups and downs. Statistics revealed that foreclosure filings in the New York metropolitan area, that includes New Jersey, rose by approximately 28% in the first half of 2010 as compared to the same period in 2009. As per RealtyTrac, a California based company that tracks real estate trends, foreclosure activities across 75% of the major metropolitan areas of the country have been up. The company tracked trends in approximately 206 metropolitan areas, and New York was ranked at 145. More affected regions were those of Florida, California, Nevada and Arizona, where overdevelopment had taken place during the housing boom. As per the NJ Judiciary, cases of foreclosure have noted to double as compared to the previous year. Residential constructions have come to a standstill and many developers are stalling their plans till the economy improves. Real estate experts also outlined that this fragile condition of the market was mainly due to a sluggish economy. They warned that if the underlying economy could not improve and unemployment remains high, the foreclosure activity could increase further.
Home Ownership Noted to Go Down
As per the US Census Bureau, the rate of home ownership was noted to go down by 66.9% in the second quarter from 67.1% in the first quarter. This decline shows that the number of people retaining homes has gone down. Also the number of people purchasing homes has reduced. Finally, the large number of foreclosures has been a driving factor in reducing home ownership rates. Statistics on foreclosures reveal a similar story. Approximately 4.6% of US mortgages were noted to be under foreclosure in the first three months of 2010, as per the Mortgage Bankers Association statistics of 2010. The home sales market has also been slow with the credit time for first-time buyers elapsed. Laterally affected by this were various other industries relevant to housing and construction. Experts reveal that all this is the after-effect of the financial crisis that loomed upon the nation. Recovery is going to be slow, as it is coupled with continued unemployment for many people. However, in a positive light, improvements are being seen, as the rates of unemployment slowing down and markets are stabilizing.
Condominiums Find Favor with Residents
Condominiums are growing in their appeal towards customers. While initially people opted for condominiums just as a first home, today’s customers are more comfortable with them. This is mainly because condominiums offer a lot of excellent facilities. For example, they offer adequate rooms with good gadgets. Also the proximity to parks, pools and shopping districts makes them quite comfortable. Most of these constructions also provide a gated community, thus increased security. Many residents of condos state that they prefer the convenience of their housing and like the maintenance-free lifestyle. In an independent house, the entire burden of maintenance and security lies on the owner, something which a condominium owner is relieved from. Statistics by the National Association of Realtors also showcase a similar trend. Condos have notably doubled in market share over the past twenty years, and today account for approximately 12% of home sales. This compares well to the market of single-family homes which have been popular over the years.
Buy a Home in Bergen County
Bergen County offers the quality of life for you and your families have been dreaming of. Don’t miss out on this opportunity to set house in one of Bergen County’s towns, famous for their charming atmosphere and top quality schools. Let Anat Eisenberg help you find the house that is right for you. Take your first step with this FREE inclusive report, containing:
- 14 Questions to ask a Realtor
- 5 Powerful Buying Strategies
- 9 Deadly Mistakes Home sellers Make
- Additional Reports
- How To Get Top Dollar In Any Market
- Making the Move Easy on the Kids
- Six Ways To Beat The Stress Of Buying A Home
- Different Reasons to Own Your Own Home
- Things You Should Know about Moving
- When Selling a Home
Get Your Free Inclusive Real Estate Report Now.
Find out more about Bergen County homes available for sale. Anat Eisenberg can help you find your dream real estate property. Anat is no ordinary real estate agent. In short, she is professional, honest and dedicated. Call: 201-341-4765 or email here.