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12-03-2008, 08:29 AM
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Junior Member
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Join Date: Dec 2008
9 posts, read 7,005 times
Reputation: 10
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Northern NJ--When Will the Market Bottom Out?
Just curious to see what others think about home prices. Despite the economy, it doesn't seem like prices in northern NJ have fallen much. When do you think they'll hit bottom?  |
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12-03-2008, 09:10 AM
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L.U.S.T. Girl
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Join Date: Jan 2008
Location: Stewartsville, NJ
7,581 posts, read 5,232,406 times
Reputation: 898
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Quote:
Originally Posted by jriley73
Just curious to see what others think about home prices. Despite the economy, it doesn't seem like prices in northern NJ have fallen much. When do you think they'll hit bottom? |
In my opinion...barring foreclosures and short sales... we are at bottom and I believe home prices will remain stagnant - unchanged for at least another 5 yrs. |
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12-03-2008, 10:00 AM
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Captain Obvious
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Join Date: Nov 2006
Location: OH->FL->NJ
1,774 posts, read 1,218,272 times
Reputation: 392
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Wall Street just imploded. down.
The overall economy is el stinko. BIG down.
NJ is unaffordable. down.
NJ is incredibly poorly run an corrupt. down.
vs.
This is metro NYC, a world city. *BIG* up.
This area has fewer dead/ dying industries.. up (see Michigan for dead and dying)
My guess this is not bottom and whatever trend the LOCAL market was doing will continue for at least 6 mos. Stuff along the train lines is still hot.
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12-03-2008, 10:35 AM
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Queen of Oxford
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Join Date: Oct 2007
Location: Redneckville, NJ
2,712 posts, read 1,681,442 times
Reputation: 605
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Quote:
Originally Posted by wileynj
In my opinion...barring foreclosures and short sales... we are at bottom and I believe home prices will remain stagnant - unchanged for at least another 5 yrs.
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Great...there goes DH and I's dreams of getting out of NJ before retirement.  |
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12-03-2008, 11:03 AM
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Real Estate Agent
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Join Date: Nov 2008
Location: Landing
53 posts, read 29,280 times
Reputation: 11
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I just sat in on an appraiser's seminar about a month an d half ago. We is very well respected in the real estate community. From what he said is that prices shoudl continue to drop at the rate of about 1% a month until the second quarter of 2009. The should remain there for a little.
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12-03-2008, 11:03 AM
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L.U.S.T. Girl
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Join Date: Jan 2008
Location: Stewartsville, NJ
7,581 posts, read 5,232,406 times
Reputation: 898
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Quote:
Originally Posted by Calico696
Great...there goes DH and I's dreams of getting out of NJ before retirement. |
You still can..just be prepared to sell for less and jump for joy that you'll be buying for less...it's all realtive...ok - maybe in Sussex County it's all "Relative"  |
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12-03-2008, 11:05 AM
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Senior Member
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Join Date: Mar 2007
3,744 posts, read 2,577,176 times
Reputation: 889
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Quote:
Originally Posted by Calico696
Great...there goes DH and I's dreams of getting out of NJ before retirement. |
by the way your are absolutely stunning in your wedding pictures. With legs like that I could find a job for YOU!!!! |
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12-03-2008, 11:09 AM
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L.U.S.T. Girl
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Join Date: Jan 2008
Location: Stewartsville, NJ
7,581 posts, read 5,232,406 times
Reputation: 898
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Quote:
Originally Posted by stevemorse
by the way your are absolutely stunning in your wedding pictures. With legs like that I could find a job for YOU!!!!
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Madame Morse's Ho House in Hamburg? |
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12-03-2008, 11:17 AM
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Senior Member
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Join Date: Mar 2007
3,744 posts, read 2,577,176 times
Reputation: 889
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Quote:
Originally Posted by wileynj
Madame Morse's Ho House in Hamburg?
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thanks , hey house the new home?? Still on cloud 9. Have not had a change to congrad. you! Are you fixing up or whats going on in that new place? |
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12-03-2008, 12:08 PM
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Consumed by Darkness
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Join Date: Feb 2008
Location: Here but I spend time There.
1,945 posts, read 1,285,585 times
Reputation: 465
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Quote:
Originally Posted by wileynj
In my opinion...barring foreclosures and short sales... we are at bottom and I believe home prices will remain stagnant - unchanged for at least another 5 yrs.
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Boy, aren't you just a bearer of optimism and sunshine LOL......It's a mad mad world out there and I'm not going to take it anymore!! :::loading shotgun:::: |
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