Part of the insidious nature of today's transaction is the all-too-common stalemate. We have buyers who need a place to live. We have sellers who want to sell. Seemingly, they have a mutual interest in making the sale happen. But today I'm finding these two parties standing still, or worse yet, moving in opposite directions.
Many NJ buyers are postponing purchases in anticipation of a huge drop in home prices in the wake of the bail-out's failure to pass., particularly in communities that house those work in the financial sector. Many NJ sellers are irrationally hanging on to unrealistic expectations for their homes while they mourn the sudden drop in the prices of their other assets.
When can we expect the two these two vectors to converge?
Lina
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