Real Estate Information Archive

There has been a tremendous improvement in the number of 1 - 4 family homes, condos and coops that have gone "Under Contract" (UC) so far this year in the South Bergen County area compared to the same period last year. Looking at South Bergen statistics, this year (according to the NJMLS) 63 properties are UC compared to 32 last year. The average days on market (DOM) is 148 compared to 132 and the average list price (ALP) is $327k compared to $338k. In Rutherford the numbers are UC 19 compared to 5, DOM 153 compared to 161, and ALP $344k compared to $370k. All of the ALPs in this data gave been rounded to the nearest thousand.

What this shows is that the real estate market is improving. Some of this improvement might be weather related because we had a lot of snow last January, but I believe most of it has to do with historically low interest rated coupled with sellers finally getting realistic with their expectations. We have had a number of listings this month that have gone under contract in less than a week and some of these have had multiple offers, because the sellers were realistic in their asking price from the beginning.

I think this is a very good sign and it it keeps up we might eventually see some price increases, but I think this is still a ways off. If you are thinking of selling but have decided to "wait for spring", you really should reconsider and take advantage of this improved market before the Spring Rush of sellers increases the competition. Remember it's supply and demand and right now supply is low compared to what we will have in a few months.

Feel free to call me with any questions on my cell 201-390-6734.

There was in article in the NY Times today about how critical Twitter is in the Presidential campaigns, http://www.nytimes.com/2012/01/29/us/politics/twitter-is-a-critical-tool-in-republican-campaigns.html and I was wondering if  Twitter will ever become important in selling real estate or maybe it already is and I don't know it yet lol. I can see it as a great way to get listing information out and am thinking about using it more often. Let me know your thoughts on this.

The December edition of my Rutherford NJ Real Estate podcast is now available. This month's edition covers Rutherford, NJ real estate market activity and then we'll discuss how recent market activity and low interest rates are bringing stability to one of the best real estate markets in recent history!

Features special guest Terri Murphy of US Learning.


Program length: approximately 6 minutes.

To listen click on the microphone below or click HERE

On a mobile device, use this link http://www.talkrealty.com/glennelliot/audio/ge201112.mp3

Enjoy!!

Unfortunately, this will be my final podcast because the company that produced them for me has stopped doing podcasts.

I hope you all had a nice holiday season. Happy New Year!!

The November edition of my Rutherford NJ Real Estate podcast is now available. This month's edition covers Rutherford, NJ real estate market activity and then we'll share tips to prepare your home for winter and protect against factors that cause mold.

Features special guest Terri Murphy of US Learning.


Program length: approximately 81/2 minutes.

To listen click on the microphone below or click HERE

On a mobile device, use this link http://www.talkrealty.com/glennelliot/audio/ge201111.mp3

Enjoy!!

Enjoy!!

I just realized that I never posted by September Podcast. This is a little late but the information is still good.

If you need to sell your home, you must price it to sell now, which means that you must price it below what comparable homes have sold for recently. According to the "KMC" real estate blog, there will be a glut of foreclosed homes (bank owned REO homes) coming on the market in New Jersey in the near future due to the lifting of restrictions on bank foreclosures by the courts in the past month. Since foreclosed homes usually sell for much less than regular sales (due to condition, "as-is" sales, etc), when these homes close and are considered by appraisers, this should further bring down selling prices. In order to beat this, sellers need to get their homes sold now. The KMC blog explains it better than I can here. Click here to read what they have to say about this matter.

Two people in my office recently had there email hacked. The hackers sent out messages supposedly from the person saying that they had been mugged while vacationing overseas and that they are asking for a loan to help them get home. The emails went out to everyone in the victims address book. The hackers than erased the address book so that the victim could not warn anyone. They also hijacked the persons facebook account and posted a similar message there. If you receive any emails like this, please phone the person and verify the story before sending any money or you will not see your money again. This kind of hacking is very previlient. You can read more about this scam here (http://consumerist.com/2010/05/just-for-the-record-your-friend-wasnt-mugged-in-london.html). As they used to say on Hill Street Blues "Be careful out there".

There is an article in the South Bergenite announcing that Mary Kriston is retiring in October as Rutherford Borough Clerk. I would like to wish Mary the best. She is a very nice lady and has been an excellent Clerk. The full article can be viewed here.

This Sugar Maple Split Level features 3 BRs, central air and a attached garage. Located on a great Rutherford Street near NY bus.

http://www.glennsellsnj.com/property/17-Arthur-Drive-Rutherford-New-Jersey