James Boyer's Blog: Market Reports + Analysis

What are the real estate markets doing now that we have gone into this period of what the talking heads on CNBC call a credit crunch? 

Interested in what is going on locally?  

In this report you will be able to see the hard numbers for your local New Jersey Real Estate markets.  There have been two additional very popular towns added to the report, Summit NJ, & New Providence NJ.  We hope you find the information in this real estate report interesting and helpful.

Part 11 in the continuing series.

Our local real estate markets continue to be stronger than the national markets which are continually commented on the national news & business news shows.  One thing that has been commented on recently on news shows such as CNBC is that the North East,…

How is the Chatham NJ Real Estate market performing so far this year?  Chatham NJ has seen consistent improvement in its Real Estate market since mid May.  The spring market was a complete washout, but since then things have been getting better.  That is the news about Chatham NJ in the latest installment of How Are The Local NJ Real Estate Markets Doing??

The local real estate markets here in Chatham NJ and surrounding communities of Morristown, Morris Township, Florham Park, Summit NJ & Madison NJ are all seeing improvements according to the artical. 

So what should would be home sellers do to ensure that their home will sell for what it is really worth?

• Pricing is the #1 Most important consideration!!  Over price your home by even 4% and you…

Part 10 in the continuing series.

The local Real Estate Markets are behaving quite differently from what the national news media likes to report on the evening news.  Many of you may be surprised to learn that many of the local towns that you and I live in have been seeing the number of home sales increase each week since the extremely slow spring market of 2007.  As you will see in this report and the previous reports the number of homes on the market continues to decline as more homes sell each week than are newly listed for sale. 

Why do we continue to see signs of strength in the local Morris County, Essex County, & Union County real estate markets?  There continues to be a steady migration of New York City especially Manhattan residents into our…

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…

The Summit NJ Real Estate Markets, What is happening now? What has been happening in the Summit NJ Real Estate market as of late? Well despite all that has been happening with the various mortgage companies and their problems with sub-prime lending the market here in Summit NJ has been picking up. The number of homes on the market has been slowly but steadily falling, while the number of homes sold per month has been slowly rising over the past few months.   The latest article in the continuing series about our local Real Estate markets is out, The New Jersey Midtown Direct Real Estate Markets Recovering? As discussed in the article we seem to have reached a point where home sellers here in Summit NJ and surrounding communities are no longer thinking… Read Full Post

Part 9 in the continuing series.

All Real Estate is local.  We all know that this statement is true.  What goes on in the Morristown NJ Real Estate Market, or the Chatham NJ Real Estate Market has very little to do with what is happening in local Florida Real Estate Markets.

The past week has seen lots of news about the sub prime mortgage lending industry.  Their have been and will continue to be mortgage lenders who participated heavily in the sub prime market who will go out of business.  How does this affect the local Real Estate markets?  In the short term, people with poor credit will have great difficulty getting mortgages, and all home buyers no matter how good their credit rating will be pushed to put more equity into their home purchase.  For…

The Chatham NJ Real Estate Market August 2007   August continues to see the Chatham NJ Real Estate market on the mend. The number of homes on the market continues to fall and the number of home sales continues to increase.   If you are thinking about buying a home for the first time or moving up to a more expensive home, this is a very good time to do so. In general the lower priced home market has held up better than homes, which are in higher price ranges. Mortgage interest rates are still fairly low but seem to be moving higher so locking in now would be best.   Thinking of selling your home, it is always a good time to sell a home, which is priced right. The buyers are still out there, and when they see a home, which is priced right they act… Read Full Post

Part 8 in the continuing series.

All Real Estate is local.  That is what we in the Real Estate profession know all to well.  What is happening on one town can be quite different than what is happening in the surrounding towns.  The Real Estate Markets in our local towns reflect that statment to a tee.

Though it has been a buyers market in all of the towns we are covering in this report, what that means for home sellers has been quite different depending on the town you were in.  In Short Hills / Millburn, Summit, & Chatham it has ment that homes have continued to sell, they just had to lower the price to about spring of 2005 levels.  In Real Estate Markets such as Parsippany, Morristown, and Morris Township, in the spring it really did not seem to matter…