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Ralph’s Blogs

NJ Existing Home Sales Decrease

U.S. existing-home sales improved for the second month in a row, jumping 9.5% to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of...

Interest Rates Hit 7.89%

According to the website Bankrate, the 30-year-fixed mortgage hit 7.896% on April 22nd. This trajectory of interest rates for home mortgages continues to escalate, creating a greater demand upon buyers not only for down payments but also in their monthly budgets for...

February Existing-Home Sales Increase in the Northeast

Snapshot of February Real Estate Stats  Year-over-year, sales waned 3.7% (down from 4.35 million in March 2023). Total existing-home sales fell 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. The median existing-home price for all...

Mercer County Sales Price Surges 33%

Mercer County Single-Family Sales Surge 33% year-Over-Year. The only county that did not post positive results was Cape May County which reported a decrease of 9%. 1 Mercer County + 33% 2 Union County + 26% 3 Hudson County + 23% 4 Warren County +22% 5 Somerset County...

FBI Report Finds Increased Risk Due to Fraud

Fraud risks are increasing based upon the Federal Bureau of Investigation Internet Crime Report, which found that cyber-crime losses increased to a record high $12.8 billion in 2023. The report found risks from wire fraud on 9.2% of transactions during the first...

Jersey Shore Bridge Breaks Before Summer Season

The iconic drawbridge that links Avon-By-The-Sea and Belmar broke in March. The problem with icons is that replacement parts are very hard to come by if they exist at all. Now the New Jersey Department of Transportation is ‘scrambling’ (we all know that government...

New Jersey Home Price Forecast for May Is Higher

New Jersey home prices are generally expected to rise for all the state’s 547 zip codes except for 10. The rest of the areas are expected to increase in value between 2.9% and 0%. This market is kind of like a slow cook, with temperatures basically remaining slightly...

Ways to Use Canva to Market Your Business

When using Canva for real estate marketing, it's important to choose templates that effectively showcase properties and engage potential clients. Here are some specific templates and design elements that are particularly well-suited for real estate agents: Property...

Insurance Making Houses Unaffordable

Interest rates and inventory shortages are not the only factors contributing to the unaffordability crisis in the US housing market. In addition to real estate taxes and escalating inflation, now major insurance carriers such as State Farm and Allstate are fleeing...

Tri-State Middle Class Is Disappearing

  A recent report draws concern over the cost of living for a middle-class family to survive in the New York metropolitan area. According to the report, the middle class, represents fewer people than it had in the 1960s, 1970s and 1980s, according to Oliver Rust,...

February Sales for Hudson County

Hudson County Single Family Homes for February Key Metrics        2023      2024     Change New Listings       79            79    + 0.0% Closed Sales      48            44    – 8.3% DOM*                  46           37   –19.6% Median PX          $465K  $575K +...

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