How is the renal market in Middlesex county? Specifically in E. Brunswick; I have a friend who has listed

Asked by Vita Strakhman, 07446 Sat Jun 21, 2008

with a realtor and they only had two showings. It's been on a market for over a month already. I don't have access to Middlesex county MLS, so if anyone could check and let me know, it would be great. Thank you in advance!

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6
Cheng, , 08817
Fri Jun 27, 2008
Rental in Middlesex County is biparted. Listing with MLS often can NOT rent out because it often require ONE YEAR lease. Whereas, if you post at craigslist.org or sulekha.com you will rent it right away.

Many IT professional working at Wall St trying to rent here due to the fact NYC rental is too expensive, but many of them got 6 month IT contracts to start with, so as soon as you said "one year lease" require, that's the end of the conversation, no need to see your rental unit.

However, many got 6 month contract to start may end up extend for many years, and therefore, extend the lease. For rent by owner units on craigslist or sulekha.com often has that flexibility, NOT thru realtors.

So, here is the tips. If you are renters can sign one year lease with good credit, get a realtor listed rental. Much cheaper. If you are landlord want market rent? just place ads at craigstlist or sulekha.com If you really need a realtor, make that "6 month lease to start with" an option, and do not emphasize too much on the "credit" for new comers. Many IT professional making 6 digit but new to NJ has NO credit history for you to check ...
0 votes
Jillian Mason, Agent, Monroe, NJ
Tue Jun 24, 2008
Hi Vita. The rental market in East Brunswick is actually very hot. There are two possible reasons for limited showings...1) tenant pays commission, or tenant/landlord split commission or 2) there are no pictures of the rental. If the realtor representing your friend has pictures up, the price of the rental is right, and the tenant is paying the commission, then the rental should be selling within 1-2 weeks. Hope this helps and feel free to contact us if you require any further information from Middlesex MLS.
0 votes
Christine Ma…, Agent, Reseda, CA
Tue Jun 24, 2008
Sorry about that, Vita! Someone stayed logged on from my office computer - I'm not Laura...
0 votes
Laura Schnei…, , Hillsborough, NJ
Tue Jun 24, 2008
Hi, Vita!

It looks like the average DOM for closed rental properties in E. Brunswick is 45 days for 2 bedroom 2 bath unit at an average SP $1650. The LP/SP ratios are 95-100% so if it's priced right it's getting "sold". Make sure your friend and/or the realtor are staying current with the comps too. E. Brunswick is near the college town which may have some type of an effect on rental units now that is it summer. You or your friend can contact me with more information about the comps (pending the agreement with her realtor is expired - I don't want to step on toes, just help). Hope this information helped!

Christine Markow
ERA Statewide Realty
Office: (908) 874-7797, ext 519
Cell: (908) 444-3106
christine.markow@era.com
0 votes
Vita Strakhm…, , 07446
Sun Jun 22, 2008
John, thank you for responding to my question, but I am specifically interested in a rental market in E. Brunswick. If you could at least give me an idea, how quickly the rentals are moving, DOM, etc...I know, in my area rentals are very hot right now, way more than sales, but in other areas, things might be different.
Web Reference:  http://www.vitastrakhman.com
0 votes
John Sacktig, Agent, New Jersey, NJ
Sun Jun 22, 2008
The market is just fine and houses are selling. But, If you are a Realtor, I am sure you are also puzzled by how some houses just sell and some are not getting any activity. I have listiings that have sold in a very short period of time and some not..Overpriced homes I can see not selling, but there are a few that should move and are not.. no rhyme or reason.

Send me the MLS $ and I'll check it out for you and send you some comps.
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