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Nick, Home Buyer in Garfield, NJ

Are multi-family homes going to decline in prices in 2008 in Bergen county, NJ....because I have not seen a

Asked by Nick, Garfield, NJ Mon Dec 10, 2007

are 2 fam. homes prices going to decline in 2008 in Bergen County, NJ

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I think Bergen county prices if any will stabilize through 2008 and remain strong. The proximity to New York is GREAT and it is a very desirable area with major transportation. The northeast part of NJ is very healthy and has seen some appreciation over last year. Good luck Nasser.
Web Reference: http://www.isellroxbury.com
0 votes Thank Flag Link Wed Dec 12, 2007
Unfortunately I don't feel we've "bottomed out" yet. I still see 2008 as a year where prices will still drop, though marginally. Yes, Bergen County has weathered the real estate slump far better than other parts of the country due to our proximity to NYC and minimal available land. However, we still are going to have to be patient. That being said.... homes, whether single or 2 family, do sell if priced right. If you're a buyer, then get a good agent who can monitor the market and let you know when a good deal comes along. If you're a seller, then it's all about price.
If you need more information, you can reach me by email at CarenMaisel@CBMoves.com
Good luck either way!
0 votes Thank Flag Link Tue Dec 11, 2007
2 Family homes will be priced after current market conditions also depending on the income and the condition of the home. Good homes and deals will still sell quick . Some homeowners may be in finacial problems and may have to sell their home in a Shortsale and then you may able to get a good deal, that will also affect pricing of the other homes on the market. Every spring the prices will go up a little but due to current crisis I expect the prices to remain the same or have a small decrease. Bergen county and Northern New Jersey has been able to keep their home values due to their location, school systems and jobs. This is a good time to buy!!
0 votes Thank Flag Link Tue Dec 11, 2007
Are you looking to sell or purchase? IF so is it your primary residence? There are many factors and no one can find the exact bottom. It is a tough call but there are many things you can review to see if a decision in 08 is right for you.
Web Reference: http://www.bparkes.com
0 votes Thank Flag Link Mon Dec 10, 2007
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