Buyers took advantage of falling mortgage rates, affordable home prices and tax credits as existing homes sales recorded another big gain in October.
Existing home sales have increased 23% from a year ago and home inventory levels are at a 7 month supply which is the lowest since Feb of ‘07. Pending home sales are also up sharply.
It seems that beleaguered homeowners may soon have something to smile about as we slowly move from a Buyer’s Market to a more balanced market and perhaps, in time, back to a Seller’s Market. Sellers will start to see higher prices and may need to give fewer concessions to buyers in coming months.
Related Articles
Ridgewood Real Estate Report – Average Sale Price Up 5.4% in October
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Bergen County Real Estate: Lower Inventory Levels and More Homes Under Contract
New Jersey Home Sales Rise for Sixth Month In a Row
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About Al Donohue
Al Donohue heads up Marron Gildea & Donohue’s Ridgewood office and is one of the top agents in Bergen County.
Al attributes much of his success to lessons learned during his years as a top sales executive on Wall Street. Most of Al’s clients are busy professionals and business owners and they love the fact that he speaks their language and understands the incredible demands on their time. Al stays in constant touch with his clients not only through phone calls and face-to-face meetings but also through email, instant messaging, and web pages created specifically for his clients. Clients can view the status of the sale of their home, read feedback from agents that have shown their home and review the status of their personal marketing plan 24-hours-a-day via their personal web page.
Al understands that technology is just a tool and says it is really his focus on providing world class customer service that has enabled him to achieve great results for his clients. He says the key to his success has been his ability to listen more than he speaks and always put the needs of his clients first.
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