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Old 08-10-2007, 10:51 AM
 
78 posts, read 351,956 times
Reputation: 19

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I am trying to trade up and welcome honest opinions on the current market conditions in central jersey. i got many conflict signals recently: a friend of mine in east brunswick got 3 offers after posting his house on internet and sold his house in east brunswick for $10K over his asking price; headline finanical news are all worst in n years for RE market; there were much fewer for sale signs when you drive by developements compared to last year......
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Old 08-11-2007, 05:06 AM
 
Location: Bridgewater, NJ
116 posts, read 459,784 times
Reputation: 31
Every town is different. Generally speaking, in Somerset, Middlesex, and Hunterdon counties, sales have been very strong this year. May had the highest sales in the last 3 years. The over abundance of listings has greatly diminished. Basking Ridge at the moment is in a seller's market.
It's what you hear in the media that hinders the real estate market, as it is so regional.
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Old 08-11-2007, 09:03 AM
 
Location: Central New Jersey
1,289 posts, read 5,268,163 times
Reputation: 291
I actually grew up in East Brunswick and loved it there. It is a great town with great school systems so homes there tend to sell a little quicker than say homes in a town without good schools like Carteret or Woodbridge. Every town is different but price is the deciding factor. It also depends on when your friend sold their home. Even three months ago, the market was different. I will agree with you, the market is not good at all but if sellers price their home right and do a little work to make it look good, then they have a good chance of selling. Problems arise when you get the sellers that still think their home is worth more than what the market will command.
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