North Jersey Sellers Not Waiting Until Spring
Northern New Jersey home sellers are not waiting for spring to sell their homes, unless of course, January 1st marked the unofficial start of the spring season.
Listings of Residential SFH in Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union and Warren counties on GSMLS have skyrocketted 3.06% from last Wednesday, January 4th until today. The total month to date increase has been approximately 3.4%, a significant level of activity for what has historically been a slow period. In fact, we haven't seen weekly increases of these percentages since the hottest periods of last summer.
GSMLS
January 4 - 11047
January 11 - 11385
Caveat Emptor!
Grim
(NJMLS and Hudson MLS numbers to resume next week)
Listings of Residential SFH in Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union and Warren counties on GSMLS have skyrocketted 3.06% from last Wednesday, January 4th until today. The total month to date increase has been approximately 3.4%, a significant level of activity for what has historically been a slow period. In fact, we haven't seen weekly increases of these percentages since the hottest periods of last summer.
GSMLS
January 4 - 11047
January 11 - 11385
Caveat Emptor!
Grim
(NJMLS and Hudson MLS numbers to resume next week)
11 Comments:
Keep in mind that this Winter has been rather mild--Spring like.
I'll see if I can put something together. I had the numbers you were looking for but I had a big technical setback a week or so ago and lost quite a bit of data that I had saved. That's why I haven't been posting the usual Wednesday inventory comparisons.
grim
I've definitely seen some houses that were taken off and then reslisted.
Grim,
I get an email alert from GMAC RE every day with new listings up to $700K in the 7 towns we were looking to buy in. For about a month I got an email with between 3-8 listings. Yesterday I received an email with
65 new listings!!!
TODAY I received another email with:
65 NEW LISTINGS!!!
OK, there are some relists and some modified prices and such, but still, to have skyrocketed that much so early in the season is pretty astounding!
Noticed the same as well. Keep us updated on your lowball house purchase.
grim
Blogger seems to be running quite slow this morning, I believe comments are not getting passed through.
I don't mind if you post it, just blank out her name and contact information first.
grim
Do not rush in here. Sellers in denial and still greedy. Realtors are seeing the light.
In about a 3-6 months, denial will turn into regret that they didn';t list earlier. Finally, near yearend capitualation.
Total panic with all sellers.
Flippers and speculators are already feeling uneasy now. In another 3 months panic in this group.
Homeowners feel they are entitled to get what their next door neighbor who sold last year got. NOT! The going rate is the highest price a buyer is willing to pay if you have to sell. That's it.
First time buyers do NOT accept these prices. You are getting ripped off. Take at least 25% before even considering a bid. Still the price is high.
Most people 10 years ago paid about 3-4 times incomes to buy their home. About 25 years ago it was about 2-3 times.
Now greedy realtors are saying you should pay 6-10 times income to buy a house. Tell'em to shove it.
A more balanced response to a pump realtor that rose colors everything.
http://moneycentral.msn.com/content/Banking/Homebuyingguide/P37627.asp
http://moneycentral.msn.com/content/Banking/
Homebuyingguide/P37627.asp
OMG Langrab -
That was HYSTERICAL!
Jeez, that is just a RIOT - thanks for the laugh.
"It is the one County that is one of the richest counties in New Jersey." Um, WHAT?
"I don't see the interest rates going up significantly. 7% is still lower than when the interest rates were a whopping 10-13% years past." - Errr, two different issues there lady. And I don't know about her, but on my mortgage .5 or .75 points is a monthly chunk-o-change!
"I really can't say that if you if wait that the home prices in this area will come down.
And if they do, the interest rates will go up, so therefore your mortgage payment will be the same." But wait? I thought she said interest rates weren't going up significantly??? And oh yeah, morgtages can be refinanced but that's just an errant detail.
"I don't buy into the media hype! I don't believe that in Bergen County there will be a "Burst of the Bubble" Based on how many homes, I sell, and continue to sell....This is what I base my forecast of a terrific 2006!"
OK, sure, people should make the largest purchase of their lives based on input from someone who can't even string together a proper sentence. That's fine.
*In the interest of full disclosure, please note that I am ready to bitch slap my agent at this very moment and therefore have no patience for agents and their ilk at this time*
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