When Will Home Prices Fall?, Beware Of Poor Home Design-What To Avoid, Housing Inventory Plummets

When Will Home Prices Fall?

Real Estate Tip:

Avoid poorly designed homes--this is often referred to as functional obsolescence. Functional obsolescence reduces the desirability of your home and makes it more difficult to sell. Here are some examples that you should steer clear of:

1) No bathrooms on first floor

2) Bedrooms with no closest

3) Knob-and-tube wiring or fuses instead of a circuit breaker box

4) One outlet per room

Real Estate Insight:

US Housing inventory at the end of December 2020 declined 16.4% from November and declined 23% from one year before.

How Pandemic Foreclosures Differ From 2008 Crisis, Adapt Or Perish, Millennials Dominate NJ Homebuying

How Pandemic Foreclosures Differ From 2008 Crisis

Real Estate Tip:

Adapt to the real estate market around you; don’t expect it to adapt to you.

Real Estate Insight:

Millenials currently represent 3/4 of NJ home buyers.

How Herd Immunity Will Affect Housing Inventory, Property Auction Risks, NJ Home Prices Soar

How Herd Immunity Will Affect Housing Inventory

Real Estate Tip:

Whenever possible, avoid buying property at auctions. There will usually be at least one person at the auction dumb enough to pay too much for a property--compete with that idiot at your own peril!

Real Estate Insight:

Home prices in NJ rose 11.6% in 2020.