Market Conditions in Bayonne>Question Details

Samy, Home Buyer in Bayonne, NJ

Is price going up soon???

Asked by Samy, Bayonne, NJ Fri Jun 7, 2013

This question was asked from http://www.trulia.com/homes/New_Jersey/Bayonne/sold/20749857…

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Answers

5
Ha! Don,

I guess I am too analytic. I read the question as a market status inquiry. You are probably right and Samy, probably meant it quite literally for the particular house he was looking at.

Samy, is this correct?
1 vote Thank Flag Link Sat Jun 8, 2013
David, this isn't the humor section of the forum. I think you posted in the wrong area.

Jobs are growing and all signs are pointing to the fact that by the end of the year more Americans will have health care than ever, tackling the instability related to sudden financial loss due to illness, and the inherent loan defaults and foreclosure/short sale rates that result from that. The only reason the economy is still not accelerating at a good rate is the recent blows to it through sequestration, and the government shut down and its implications. The horse is trying to get up, but keeps being whipped down.

It's rather funny that you characterize the appreciation of the real estate market as a negative, when in fact it is a sign of economic growth and prosperity. In general, not withstanding the importance of affordable living, rising real estate values is a good thing, not a bad. And that, my friend, is a capitalist point of view, not a socialist one.

One point however, if interest rates do eventually go up, as they inevitably will, the prices in the real estate market will have to fall as a result, not appreciate further. When this happens, it will be the time at which financial liquidity will bring in fortunes, or to put it bluntly rich people will get richer. Buyers who have to take a loan, as they do not have sufficient cash at hand, will have harder time affording the properties on the market. This drives prices down somewhat due to the law of supply and demand, but cash buyers still have a huge advantage over those who need mortgage, so they can sweep the market picking up all the properties for a fraction of their actual market value.

Sincerely,

Amos Elroy
CDPE (Certified Distressed Property Expert)
SFR (Short-Sale Specialist Certified)
CHBA (Certified Home Buyer Adviser from NAEA)
CSBA (Certified Home Seller Adviser from NAEA)
NAEA Member (National Association of Expert Advisers)

Residential Real Estate Expert Adviser

Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
FAX (888) 462-6573
Office 201-437-0411
http://www.HobNJRE.com
0 votes Thank Flag Link Mon Oct 28, 2013
I think that prices will go up slowly. Based on the current Obama Administration, how they are destroying the economy as a whole including employment and the health care system, I believe the economy will continue to sputter. The President wants as many people dependent on government as possible. Moreover, interest rates have been so low for so long, they have to eventually go higher.

David Peters
Homes 4 Keeps
Real Estate Investor
Bayonne, NJ
0 votes Thank Flag Link Mon Oct 28, 2013
No. Probably not.

If the house stays on the market unsold, the price will go down, not up.

If the house is reasonably priced, it'll sell.

Hope that helps.
0 votes Thank Flag Link Sat Jun 8, 2013
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
Hi Samy,

It is a very general question and can only be answered by a very general reply.

Looking at national trends, the price of real estate is indeed in an upward momentum. In fact there is a debate between economist whether a new bubble is already in the forming.

Now, keep in mind that this all depends on locale, type of property, regional unemployment, etc, so needs to be examined for each case. These are just the overall national trends.

As far as Hudson county, or a particular neighborhood, is concerned I would be happy to meet with you and present you the analysis. Our team conduct analysis on a regular basis to assess local current market conditions for our clientele, and we would be happy to share our knowledge with you.

Sincerely,

Amos Elroy
CDPE (Certified Distressed Property Expert)
SFR (Short-Sale Specialist Certified)
CHBA (Certified Home Buyer Adviser from NAEA)
CSBA (Certified Home Seller Adviser from NAEA)
NAEA Member (National Association of Expert Advisers)

Residential Real Estate Expert Adviser

Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
FAX (888) 462-6573
Office 201-437-0411
http://www.HobNJRE.com
0 votes Thank Flag Link Sat Jun 8, 2013
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