Well, when you are ready. What does that mean? Depending on where you are in life and your goals- housing may play a larger role at certain points. Let’s start with this- National Association of Realtors reports that on average home prices double every ten years. In these 10 year cycles we have had 4-6 year cycles of price fluctuations. So now we have an idea of how the market moves.
I would suggest you catch the right part of the wave- that best benefits your investment and time frame.
For example, if you are looking to live in a condo for a few years and the market is at the six year peak-- you are looking to stay only a year or two, it may be best to wait. If you can not find a unit at the right price or in a very desirable area may be best to wait a little bit.
Are you ready to catch the wave?
Yes, but how can I predict the bottom? You can't. Finding the the exact bottom-eludes even the savviest investors. However, some basic observations one can see the adjustment in prices, days on market (DOM) and contracts written; this have been the case over the last 15 months.
Long story short- we are looking for the bottom....rates are low, inventory is up and many buyers are still on the sidelines. You have it all to yourself; TAKE YOUR PICK-just be realistic, not everyone has to sell- nor are they going to give it away. Do your homework and work with a broker you fell comfortable with!
If you have any questions about Northern New Jersey Real Estate --- I'm here to help!
Back in 1999 I was getting ready to graduate from Rutgers and take on the world. I worked, as one would say, on Wall street for a handfull of years. . The last thing I was thinking about was owning the roof over my head. I'm sure you have heard those around you talking about the great sums of money made investing in real estate during the boom and how you must get in. I have seen and heard many stories about real estate, good and bad. So I decided to look into it for myself and had taken a great interest in the profession. After some due dilligence, I decided to follow my passion and become a Realtor. I've had the good fortune and determination to make it as a Real Estate Broker/Associate. As a real estate professional...I truly enjoy what I do for a living.
I am in this for the long run and look to foster lasting relationships with a job well done!
This is where the BLOG comes in--if you have questions and looking for a Realtor to walk you through the process,negotiate on your behalf, ask questions, advice etc...let's get started.