Even a Dog Could Do It
From the Courier Post
[It's been two years since real estate customers competed furiously to buy houses, scribbling purchase offers and casting them like bouquets at sellers' feet.
Powered by low-interest mortgage rates and huge buyer demand, New Jersey's residential resale values exploded 85 percent over the last five years.
Camden County's statistics are typical. Here, a $110,600 home purchased in 2001 would bring $202,700 today -- an 83 percent increase.
"Two years ago, even my dog could have sold real estate," said Anthony Yula, manager of Budd Realty in Woodbury. "Hang a sign around his neck and get him to bark, and the house would have sold."]
Full article....
[It's been two years since real estate customers competed furiously to buy houses, scribbling purchase offers and casting them like bouquets at sellers' feet.
Powered by low-interest mortgage rates and huge buyer demand, New Jersey's residential resale values exploded 85 percent over the last five years.
Camden County's statistics are typical. Here, a $110,600 home purchased in 2001 would bring $202,700 today -- an 83 percent increase.
"Two years ago, even my dog could have sold real estate," said Anthony Yula, manager of Budd Realty in Woodbury. "Hang a sign around his neck and get him to bark, and the house would have sold."]
Full article....
posted by Little_Silvered at 10:08 AM
6 Comments:
my usual respone; the "irrational exuberance" is ending. let the "soul" of the jersey shore return. the dancing, the fishing, the beach, the good people who live there year 'round, the bars... the fun!
yeah and your point is?......
my point......
it's amazing how much it is the opposite today!
Ha Ha!
Thanks for the interesting post nj coast. There is a house in my neighborhood that has been on the market for about three months -the owners are very anxious to sell due to a job relocation. They have been reducing their asking price every week and holding open houses every Sunday. They are now $75,000 below where they started - didn't see any traffic at the open house today.
Excuse the ignorance, but what does listings expired mean? And are the closed figures actual closed deals or are the deals considered "closed" when the contract is signed by the buyer?
I'm told the NAR's sales stats are based on contracts signed, so the transaction is counted as a sale even when buyers pull out of the deal -- cancellations have been happening a lot more recently, builders have been saying, because buyers fear prices are going lower.
Great blog btw.
Now my dog is shorting builder stocks and Home Depot futures.
My dog said the Real Estate market is in for a ..........RUFF TIME
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