Florham Park NJ Real Estate / What Is The Home Market Doing August 2007

The Florham Park NJ Real Estate market continues it's slow but steady recovery.  Most of the homes which were on the market but not priced so that they would actually sell are long gone from the market.  What we have now mainly are homes offered by home owners who really do want to sell and move.

On the home buyers side of things, we have reached the point where the people who would like to buy a home are now willing to make offers again.  In the spring we went through a time where it seemed that there were no home buyers out in the market at all.  That has change though, the home buyers are out there and willing to make purchase offers on homes which are properly priced and presenting good value.

As stated in the continuing series Are The New Jersey Midtown Direct Real Estate Markets Recovering? The real estate market here in Florham Park and surrounding communities is slowly getting better, and likely will continue on that path.

Is this a good time to be a home buyer?  Yes interest rates are still very low, but prices of homes are not going down.  The way the real estate market here in Florham Park the longer you wait the higher the interest rate you will get on your Mortgage while the price you pay for a home is stable to slightly increasing.

Is this a good time to be a home seller? Yes again, it is almost always a good time to be a home seller, especially when you price your home very competitively.  As an example, there are still cases here and there where a home gets multiple offers and sells for more than the asking price.  Did these home owners get less for their home than they could have, we will never no, but the likelihood is that they got about the same or somewhat more.  Homes always sell for the highest price possible when they sell in the first few weeks on the market.

Thank you for reading, and please remember I am never to busy for your referals of people who need expert help for their real estate needs.

James Boyer

Realtor Associate

Keller Williams Real Estate

488 Springfield Ave.

Summit, NJ 07901

973-647-0253 (Direct)

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