For home buyers in New Jersey’s Midtown Direct towns (Maplewood, South Orange, Millburn, Short Hills, Summit, Chatham, Madison, Livingston, West Orange) the time has come.
Interest rates continue to be at records lows. First time home buyers, I get it, you were in high school when rates were in the double digits, trust me they REALLY were that high!!! 5% is a GREAT place to be.
Today, in this market, at these prices, great homes (the ones you all want) are selling like hotcakes! In the fall we were seeing buyers sit on the sidelines and wait for the market to “maybe” go even lower, and now the shift the past few weeks is that buyers are realizing that homes are selling instantly when they are priced right.
Despite having a great shoreline, New Jersey is not a “sand state”(read: Texas, Florida, Arizona). We are located near THE CITY (as we locals call it around here). Manhattan is not going anywhere and what are the three major selling points in New Jersey Real Estate …(everyone say it with me)… LOCATION, LOCATION, LOCATION! Not even 9/11 could stop people from wanting to live within commuting distance to Manhattan , and it’s no different today. Mid-town direct trains get you to Penn Station within an hour from Madison and Chatham , within 4o minutes from Summit and Millburn/Short Hills and within a half hour from Maplewood and South Orange .
The best stuff is coming on the market and it is moving fast. Our team just had a home in Chatham sell within days of being listed on the market and with 9 offers (ABOVE asking Price)! With a recent Maplewood buyer, I saw a home as soon as it came to market at the Realtor Open House, knew it was perfect for my clients and had them come out THAT NIGHT! They loved it, made a strong offer and were under contract within a week! The listing agent said: “Can it be possible, the first people to see this home on the very first day to market will be the ones!” (Answer: Yes, if they are working with me 😉 )
Sound familiar? This is not 3 or 4 years ago. This is today – February 2010!!!!
BOTTOM LINE: if you want to buy at house at a great price, with low interest rates and you are ready to make a move. Get your pre-approval letter and call me. And, let’s get you a good deal on a great home before it is gone!
Yours to count on,
Tracy Freeman, Buyer Specialist with the Sue Adler Team 917.604.5735 Tracy@SueAdler.com