July was a flash as a month not to remember; August is mostly over; what now As far as I have experienced we started doing our job as Realtors' and brining prices down to what this market is allowing.This is the most horrific year yet! Twenty years, market crash and all. When you think it is picking up they make more announcements on the News regarding the default of the mortgage companies going into bankruptcy and all the foreclosures that will be coming and are here. There go the buyers' again. The buyers' have their own pipeline, they all offer at least 40,000 to 50,000 less than the asking price. Zillow or Trulia or whatever told them to do this and they said that is what the neighborhood is bringing. You know Realtors had it fairly easy for 9 years, now I feel like a referee when I bring the buyers' agent to the seller. They are not happy with this market.
Guys, if you are going to live in the house for at least 10 years to raise the kids and perhaps retire from your job you are going to be very happy with your long range profit. They are coming down on a daily basis. Right after these dumb conversations, the stock market took a dive again and again this week, our market has a haze on it all year, so what are we to do? Live off the millions the sellers' and buyers' think we made during the past 9 years (bubble time). We have houses and townhouses and stocks that have also taken a downward turn, we are only human and most of us had to give up commission money in order for you to get your home!!!!
The homes that I have listed for sale this year, have finally sold but it was the longest amout of time on the market ever in my career. Our homes were over-priced for the past few years and had to come down. These folks are not leaving this State for anywhere else they just want to move to the newer Adult Communities so they can continue to work and be able to play Golf out their front door, live close enough to see their grandchildren achieve what they gave their children. They are the "Boomer's" like myself, I am a native of Brooklyn, NY my husband a native of Jersey City, NJ. When we moved to out first house we lived in Old Bridge, seems everyone there came from Brooklyn and Jersey City, we had an appointed Mayor no full time Police, it was called Madison Township, it has turned into a 56 square mile township, the first elected Mayor was from Jersey City, the Police Department is well over 100 Officers' most are boys and girls who grew up there. It borders, Boro of Sayreville, Township of East Brunswick, Township of Monroe, Township of Manalapan and the Township of Marlboro. We lived there for 33 years I am just 10 miles exactly to the south in Freehold Township now still a right off of Rt. 9. The taxes are the taxes, but excuse me do you not still get credit on you income tax for the real estate tax, so what is the big deal. If you are going to live in a mansion then you will pay that privilege and not care. I was looking yesterday in some of the further away Ocean County towns the taxes are very reasonable. I would say cut the state in half and as you go south even west they get better. You do get more property, it is family oriented, kid friendly, are well rounded and ready for the world. Speaking of friendly also Horse friendly lots of horses. The message is stop putting New Jersey down, we have a great Governor Jon Corzine give him a chance to make us proud again! I thought enough of this State to move here and raise my children and now so far my only granddaughter here, no where else.
Congratulations to the sellers' for listening and come on buyers' let's think about not waiting for all the foreclosures. There will not be as many as you think in New Jersey, and if they do come, they will be very expensive homes that the bank will do anything for the owners' to keep. THE BANKS DON'T WANT YOUR HOME, THERE ARE TOO MANY ON THE MARKET NOW make a deal, they will work it out. I want you to take advantage of the interest rates that are out there now, they are still low...................
Who knows in 6 months, where they will be, we are coming back, my opinion is we are now bottoming out and by the spring next year we may see lots of new buyers' in the market ready to roll. New money out there, people are afraid to make the move from rental to home. I see a slight shortage of rentals. People do not want to spend the money that they may have saved until they are sure the homes are as low as they go. We will run the comps on all properties for both buyers' and sellers', most of us know our areas and probably like myself we were there when the 20 year old house was brand new and sold for less then ######## the 50 year old house was even old then. So come on you will like the adventure of buying your first home and getting a perfect deal from a positive agent who got the listing from a stellar seller who is leaving not leaving just merely going on with their lives.
I had my own personal dilemma this summer in a flash it was going into September, school opens in two weeks take advantage of the best schools and the most dedicated teachers you can get for your children. It is our hope that "Who Said You Can't Come Home" sung by Bon Jovi, a Sayreville, NJ I think 08872. By the way when he comes off the road this is his home, among other movie stars and celebrities.
The good things about New Jersey are, we are the wealthiest, the most educated, the Rutgers Football team is doing fabulous and Rutgers Woman Basketball team are leaders...........................Great place to live.................If you have other ideas let me know..................................