Ridgewood Home Values Fall to Zero - Real Estate Agents Must Repent

Many "experts" and some commenters to this blog predicted that Ridgewood and National home values would fall in the first half of 2010, transactions would be down and interest rates would rise. Check out what Time.com had to say back in January.

Today is July 1st.  Let's see how the experts fared...

Have Ridgewood Home Prices Fallen?  Well, not according to the New Jersey Multiple Listing Service (see chart below).

Well, then surely the number of Ridgewood transactions are down in the first half of 2010 versus the first half of 2009, right?

Wrong.  The number of Ridgewood real estate transactions nearly doubled from 70 in the first of 2009 to 129 in the first half of 2010.

At least they were correct about mortgage rates going up, right?  Wrong.

Here's what they were saying about rates at the end of 2009...

...And the chart below shows the reality.

Mortgage Rates - Jan 20th to June 20th 2010

Predicting the real estate market is a lot like predicting the stock market or even the weather.   That's why folks need to consider whether buying a Ridgewood Home makes long term sense for themselves or their family and not look at Ridgewood Real Estate as a short-term investment because, as you can see, not even the experts can predict what will happen in the real estate market.

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What Clients Are Saying About Al Donohue...

John and Ginny Fitzgerald - formerly of Fairway Road, Ridgewood

In selling our house in Ridgewood, New Jersey, we were extremely fortunate in finding Al Donohueas our Realtor. Al has been a real pleasure to work with. Not only is he a consummate professional, but he went out of his way to make what is usually a painful process quite the reverse. He is industrious, knows his business, innovative, totally honest, and keeps you fully informed. I can't imagine that anyone does it better than Al does. On top of all this he has a great sense of humor !!!

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Ridgewood Home Values Fall to Zero - Real Estate Agents Must Repent