South Jersey Real Estate Market Conditions January 2007

As a Realtor in the South Jersey market (Gloucester, Salem,Camden & Burlington Counties) since 1988, while selling several million dollars worth of Real Estate each year. Most people are very confused about the market right now (including agents) because it is difficult to describe. We are definitely not in an accelerating mode at this time, but also we are not in a severe decline either. The fact is, that the lower prices we are all experiencing are a direct result of the over abundant inventory in the market. Every neighborhood has homes for sale and it has to be a different approach to the marketing of the home. This market has been described by many professionals as the "1993" market again however, having worked that market, I believe things are not that drastic yet. We are all seeing many agents quit the business that have only been in Real Estate a few years and haven't really learned how to sell in this market. I learned it well so it doesn't scare me at all. Being natually thorough and very service oriented, I find my hard work gets the job done with happy clients. So the bubble can't burst because we didn't really have one.