Sue answered:
In this market (Spring 2009) I am finding that bids are coming in $50,000. below asking on homes in the high $500,000. range. These are serious buyers who have to move...they are just beating up the sellers right now. I asked other agents,and in Northern NJ this is the norm. Also, language in the Attorney Review letters is indicating that buyers expect every system in the home to be near new, or they want replacement value at closing. It is a tough thing to be a seller right now, and in my opinion a really good time to buy.
Between lack of buyers, low interest rates and reduced asking prices, it is a great time to trade up and wait out the recovery.
Between lack of buyers, low interest rates and reduced asking prices, it is a great time to trade up and wait out the recovery.
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