I thought it was a buyers market in New Jersey Real Estate!!
Posted Nov 21, 2007 @ 2:47 pm, Viewed by 517 Visitors, Read 528 Times.I thought it was a buyers market in New Jersey Real Estate!!
Here is a little background on how a New Jersey Real Estate Transaction happens once you select a house, so that you will better understand what has happened. New Jersey is a Attorney State. The Legislature has taken almost all control of the nj real estate transaction our of the Realtors hands. In actuality a Realtor cannot write a contract for purchase of a home, only a proposal for purchase. Only the Attorneys can write a actual contract. It gets even worse, both the buyer and the seller each have to have their own Attorney, More than double the cost involved. Then there is a Attorney review period (usually about 3 business days) where ether the buyer or the seller can back out for any reason.
If you would like to do a little market research on Chatham NJ Real Estate and Luxury Homes, and all of the surrounding towns, I have a nice MLS tool for you to use for free. Please use it as much as you like.
James Boyer
Realtor Associate
RE/MAX Properties Unlimited
One Madison Ave
Morristown, NJ 07960
973-647-0253 (Direct)
973-539-6300 (Office)
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The Attorneys have their fingers in most of the process. At some point the board of realtors must have been really week here to allow this situation.
John Moolingham
The worst and most overrated real estate market is at the Jersey Shore. None of the higher end homes are moving. The sellers are being stubborn and foolish but no one is falling for the magic act down there anymore since the boom. There is a sucker born everyday but it seems the game is over. You do not get what you pay for there. You can buy a fixer upper for multiple seven figures on the water lol. It is insulting. The same homes are sitting and rotting as no one is buying. I guess buyers are getting smarter and know the value is so poor at the Jersey shore.
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James Boyer, is a resident of Morris Township in Morris County New Jersey and Specializes in listing and selling homes in Morristown, Morris Township, Madison, Florham Park, Chatham, Summit, Short Hills, Millburn, Maplewood, & South Orange New Jersey and Morris Essex & Union County Real Estate. Read More
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Man that sucks! The fact that an attorney is required on every deal that is. How many times have the attorneys cost you a deal?