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WHY YOU SHOULD CONSIDER SELLING YOUR HOME NOW (conclusion)

As mentioned in part two of our previous blog, "why you should consider selling your home now", young professionals and empty nesters, seek out housing near mass transit and short commutes, as high priorities. That explains the strength of certain towns in Hudson County, where the commute to Manhattan is quick and easy. Example; 93% of the sales there in 2013, were condos and townhouses, including a penthouse condo in the Hudson Waterfront Tower in Jersey City, which sold for a record setting, $2.8 million, in October.

Of course, not all of New Jersey is riding the same wave. Superstorm Sandy's arrival in October 2012, depressed much of the Shore market, particularly in hard hit sections of Monmouth and Ocean Counties. Mantoloking has recently staggered under as much as 18 months of inventory; in Loveladies, it's 24 months, although the situation is starting to ease, as buyers step up to snag bargains.

New Jersey's four Southernmost counties-Cumberland, Salem, Atlantic and Cape May-are still in the grip of a foreclosure crisis that is actually growing worse, even as other parts of the state, and even more so, the nation...get ready to kiss the foreclosure problem good-bye. Other nightmares could be waiting in the wings. Proposed federal tax reforms could eliminate all second-home, income tax credits. (That could finish off the Shore market)

These dark clouds could very possibly provide more reasons to sell soon. As long as nothing crazy happens to the economy, things should continue to look up. While it may appear to be overly optimistic, in the current real estate market, it is the prevailing wisdom.

If you have been putting off plans to sell your home, NOW, may be the time to re-consider your decision. Call us for a complimentary market analysis, no obligation.

For all your real estate and insurance needs, contact, "the new start in town" LEGACY REALTY GROUP, Edison, NJ, 732.744.0400.