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The Franklin Lakes Housing Market --- What's Selling and What Isn't
The market is better.  It's not wonderful, but it's better.  Better than what? Well, better than the last 3 years, that's for sure. Phones are ringing, people are calling for appointments to see homes, homes are selling in fewer than 6 months, and pricing has gotten more realistic at the start of the listing. Lord knows we've had seriously overpriced homes sit on the market for as long as five years (not kidding), but it appears Sellers have gotten the message that prices will go up VERY SLOWLY, over the next 5-15 years.  That's the experts talking, not me.
This shouldn't be a surprise to anyone, least of all those of us who weathered the 1987 stock market crash that drove real estate into a ditch from 1990-the late 90s.  I've mentioned before that my own home, in Franklin Lakes, was on the market just after the '87 crash, listed at $1,165,000.  We had an almost immediate offer of $1,065,000.  My genius ex-husband decided we should try bidding them up.  They bought another home the next day.  We didn't get another offer untl 1991, and that offer was $715,000. By that time the market was all but dead, so we took ... more

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