bergen county: Price Cut
- 08/05/08 03:19 AM
Is the real estate price really going down? How do you feel it? And, how much, if any? What about the commercial real estate market? The price analysis of sold items in the NJMLS data helps have a small taste of how much price changes sellers and buyers think acceptable with time lapses.
The more stressed on the market, the more price cut, in general. Commercial properties that stay less than a half year on the market barely lower their listing prices. But most commercial properties take a more than 10% discount on average when sold. Residential properries in Plisades Park show some … (0 comments)
bergen county: Bergen County Sales Analysis
- 08/05/08 02:39 AM
Bergen County and Palisaeds Park saw a dramatic downturn in residential sales in the past years, according to NJMLS data analysis as of 7/31/08. Sales of total residential units in Bergen County plunged 44.63% vs. 2005, the peak year, and 24.65% vs. last year. Palisades Park looks in even worse shape as seen below, as only 61 units were sold this year as of 7/31/08. This roller coaster-like fall reminds people how hot the market was in its sunny days. Palisades Park, the home of condomized duplex, did not see sales faltering up until the mid of 2007, as helped by surging condomized duplex sales in … (0 comments)
bergen county: Short Sale in Bergen County
- 07/09/08 07:38 AM
"Bank-approval required (BAR)" items are increasingly listed in the MLS system these days. They are either short sale items or items already foreclosed and/or owned by banks (REO). As of 7/9/08, all 70 towns of Bergen County have approximately 462 "BAR" items out of all 7,264 "Active" items, which accounts for 6.36%, as shown below. This high rate in Bergen County, however, does not look fair at all in comparison with other neighboring counties, such as Passaic (11.33%), Essex (14.56%), or Hudson (8.24%). In Bergen County, locale 300 (Southwestern Bergen) and 400 (Central Bergen) shows the highest rate---9.01% and 9.29% respectively. It is notable … (0 comments)
bergen county: Palisades Park & Bergen County Housing Market
- 07/07/08 12:32 PM
The housing market, as scraped by media and the reality nowadays, has been severely afflicted in the past 2 years, and sees little indication for the way to upturns sooner or later. Its overheated market culminated in the 2nd quarter of 2006, long after a flurry of warning signals had inundated here and there. As shown below, Bergen County saw a dramatic plunge in sales volume in a year (-59% for 7/2006~7/2007) and another similarly worse year (-68% for 7/2007~7/2008) compared to the 1-year average of previous 3 hot years between 7/2003 and 7/2006. During the same period, Palisades Park took a little different route to this … (0 comments)
Is the real estate price really going down? How do you feel it? And, how much, if any? What about the commercial real estate market?;)
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