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Before you make a written offer to buy a rehab property, learn what real estate repairs cost (labor and materials), be conservative with your estimates and make a detailed list that you can show to potential lenders, investors and joint venture partners.
The median sales price for a home in NJ reached $510,000 by the end of 2024, up nearly 10% from the year before.
Get a thorough home inspection before you buy real estate and get one before you pay for an appraisal just in case the inspection reveals something so major you decide against buying the property.
The number of homes on the market in NJ is 35% lower than last year which is continuing to push home prices higher.
Never use a seller’s asking price as a gauge of market value for a property. A property owner may request any price for his property-this may or may not be anywhere near market value. The current market value of a residential property is based primarily on what a similar property has sold for in the last 6 months.
Only 1.4% of homes in the US changed hands this year, which is the lowest level in a decade.
