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Sha, Home Seller in kumar

how is the selling market in east brunswick, nj for now and even in 08'?

Asked by Sha, kumar Wed Aug 1, 2007

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4
John Sacktig’s answer
East Brunswick has been holding it's value. With the media talking of the death of the Real Estate markets.. Prices have come down. yes. But, a town like East Brunswick, that has the great school system that it has, and being 35 miles from NYC?.. Great buy's happening right now. This market is not getting much lower in East Brunswick. You are not getting the 600k that you got for your 495 -525k home that you were gettting 2 years ago.. no. But overall value is in the town, schools and location.

I love people who speak so matter of factly like the person below me here.. like they run the market.

A well maintained home is going to sell. period. Good market or bad, as long as it is priced correctly..

I just spent the last three days taking 4 buyers around East Brunswick looking to purchase, working.
Selling houses.
1 vote Thank Flag Link Fri Oct 5, 2007
Hi,

I just ran the active single family properties for East Brunswick, NJ and there were 243, not incuding those in attorney review. High inventory. There is a lot of speculation about 2008 and beyond. I don't look for any significant improvement in 2008. If you price your property well and it receives excellent market exposure, you can sell your house quickly, even in this market. If you price your house aggressively, but it does not receive broad market exposure, you wont' know if you could have sold for more. If you price high, all the marketing in the world will not sell your home.

If you were thinking of waiting until 2008 to sell, I don't think that we will see significant change. And, I just spent the last 3 days in a meetings at a national meeting that addressed this subject with leaders from banks, NAR, etc, all expressing their projections and viewpoints.

On my way back to NJ now.....
1 vote Thank Flag Link Fri Aug 3, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
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East Brunswick is a nice area, I have my cousins live there for many years. I don't think prices on homes will drop, they will level out to the prices they should be, to its appraised value or perhaps 10-15% above it, depends on the home condition and what upgrades a home has. The big buying and selling rush is over. Banks don't give anymore mortgages to a customer for a home which selling for 600k and only appraised at 400k. They finaly woke up and stopped giving out loans for such properties. I think houses which are prized right still selling and will be selling, that is my opinion.

Good luck to you.
0 votes Thank Flag Link Sun Sep 9, 2007
When people ask is it a good time to sell I ask do you want to sell your haouse and why? Right now there are a lot of homes on the market. Still if you price your home right you could still get a contract in under a week. There are buyers out there. They just have more to choose from. If you have only lived in you home for about 2 1/2 years or less you are not likely to make a signifigant profit from the sale of your home. NAR(National Association of Realtors) predicts home prices to go on the rise again in 08. For more specific info on your area I would contact a local agent.
0 votes Thank Flag Link Fri Aug 3, 2007
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