While I will be publishing the actual numbers in about 2 weeks for Sept. and October, I wanted to give all of you readers a "heads up" on what's happening out there in the Cranford area.
For 2 years I've been telling you that our market has been holding fairly steady in terms of buyer activity, especially compared to such markets as South Florida and California. Well lately for the first time in a while we have seen a dropoff of homes going under contract. I attribute this primarily to the tightening credit standards, and few folks being able to qualify. So...is this bad news??? Depends on how you view it, and what your situation is. Here is how it affects you:
Buyers: if you have an excellent credit rating and a healthy down payment THIS IS A GREAT OPPORTUNITY TO BUY because you will come to the negotiating table ready to close.
Sellers: If you price your home correctly, it will sell VERY FAST because those buyers I talked about in the last paragraphs are ONLY viewing and offering on properties that are priced well and show well. You have an opportunity to sell, and beat the market time of your competetors, but please listen to our pricing advice. Remember if you bought your home before 2004, you are probably still making a profit on your home.
Check back for more updates. Thanks for reading the Cranford NJ Real Estate Update
Sean Carroll - Realtor, Sales Associate
Team Carroll of RE/MAX Classic Group
908-376-1569
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