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The most important factor in determining the profit you earn when you buy, fix and flip a property is the price you pay to acquire the property.
The number of homes being offered for sale in NJ has increased by 12% with months’ supply up to 2.4 months compared to 2.0 months supply a year ago.
Overpricing a property reduces its selling price-it inevitably ends with price cutting & a weak negotiating position. The longer a property stays on the market, the less it will sell for. The key to selling a property for top dollar is pricing it correctly in the 1st 30-45 days it's on the market.
Home buyers retreated from record-high down payments across the U.S., with down payments reaching an average of 14.5% and a median down payment amount of $30,300 in the third quarter of 2024, down from the Q2 2024 historical peak of 14.9% and $32,700.
