Sayreville & Piscataway NJ Real Estate Blog

December 2, 2009

Waiting for Prices to Plummet on Homes for Sale Mercer & Middlesex County NJ May Be a Mistake

Filed under: Mortgage, Education, Real Estate, Foreclosure, Housing, Uncategorized — Freddie @ 10:42 am

If you’re looking at homes for sale Mercer & Middlesex County NJ, want to buy a home and are waiting around for better prices, you might want to rethink your strategy.

If you’re a market watcher, soaking up the information overload across news media and Internet websites, you’re probably overwhelmed with confusion by now. Is the housing market getting better? Is it getting worse? Was there really, when it gets down to it, a housing bubble collapse? And, if so, who popped it?

First, the quick answers. Yes, the housing bubble collapsed, and everybody had a hand in popping it: the government, the lenders, the investors and the general public. Now the hard answers: it’s getting better – and worse.

The truth is that market predictors are all on the fence. With the ARRA (American Recovery and Reinvestment Act) giving first time homeowners some incentive to buy homes for sale Mercer & Middlesex County NJ and elsewhere, there has been a steady increase of sales. However, once the tax credit deadline hits at the end of this month, the numbers are once again expected to drop.

Again, though, it’s better and worse. While the housing market is still dropping in some areas, such as the southeast in

Mississippi,

Alabama and so forth, there are definitely some strong markets in the country.

For instance,

Boulder, Colorado holds 60% of the share of increasing home values. The average value is about $350,000, but there’s a limit in place on the amount of homes allowed in the area. In

Binghamton, New York, the average value of a home is around $112,000. They also have a housing limit, which means a small supply, so prices probably aren’t going to plummet.

Just because this is a buyer’s market, doesn’t mean you’ll get the exact price you’re looking for. If you want to buy a home and you’re waiting around for the prices of homes to plummet into a “sweet deal,” make sure you don’t wait yourself into an expensive mistake.

Instead of checking market forecasts, potential homebuyers need to look at things the way we always should have. Do I want to buy a house? Can I afford one of the homes for sale Mercer & Middlesex County NJ the way things are now? By researching, crunching numbers and answering the important questions, you’ll find the sweetest deal you could ever have: a wonderful house you can afford.

If you’re looking for a place to call your own, I can help. Call me at 732-247-1935 ext182 or email me at freddie@freddiemoorer.com for more information.

Links:

ARRA

http://www.recovery.gov/Pages/home.aspx

Strong markets

http://images.businessweek.com/ss/09/08/0811_strongest_housing_markets/1.htm

Can I afford one of the homes

http://www.hsh.com/calc-howmuch.html