Market Conditions in 07090>Question Details

John, Other/Just Looking in 07030

Is this the second year in a row that Coldwell Banker removed all of its "reduced" properties? Last year I was told it was because of the

Asked by John, 07030 Wed Jan 5, 2011

merger. Last year I was told it was because of the merger with the other another office (now they have East and West in town). Was there another merger this year or is it common practice?

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Where are you getting this information from? What are you basing this on? I haven't looked at the MLS today yet, but it seems to me that if most of the listings that were "relisted" when the merger occurred, were all done in the same time frame of a week or two, they would all be expiring around the same time. Those listings that didn't sell would then have to be relisted again, so would have new MLS numbers and of course would appear as a "new" listing yet again.
I know the East and West office you are speaking of and I am sure that this is not a "conspiracy". As was suggested last time you asked this question, if you have a concern, why not just call the broker and ask for an explanation direct from the horses mouth. BTW I don't work for that broker so have nothing to gain.
0 votes Thank Flag Link Fri Jan 14, 2011
Spring Market is percolating here in Somerset County as well - and the same dynamics of lower inventory levels are at work. In fact in Warren, one of our most desirable communities, inventory levels are down over 25% since the beginning of November. But that will change - has already started to in fact. I think there is an advantage to sellers who list quickly to seize the impact of the pent up buyer demand before the competition becomes more intense.

Jeanne Feenick
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0 votes Thank Flag Link Thu Jan 13, 2011
Yes the inventory is the lowest it has been in two years, but that is due to two factors, one the season.
a lot of sellers pull of listings off because they feel the weather will stop buyers from comming out and two homes in Westfield are selling if they are priced correct.
As for the merger, I would not call it a merger, Bergdorff was owned by our same parent company and they felt it would be more economical to "blend" the town brands into one. East and West are under different roofs but we now work as a team.
I will say that we are already in or "spring market" and the buyers that are ready, willing and able are out in full force enjoying the great opportunities out there. Just think, I call this the perfect storm for a buyer, low interest rates, bargin prices. If you are thinking of timming the market, guess what now is the perfict time to buy in Westfield.
0 votes Thank Flag Link Thu Jan 13, 2011
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