News

A year ago who would have considered that an unemployment rate of 13.3% would be considered a positive development? But then one year ago, who would have considered that we would have been dealing with a pandemic for the last 3 months? Many of the real estate experts...

A new executive order was issued by New Jersey Governor Phil Murphy, reducing the closures dictates originally issued back in mid-March. This announcement allows for indoor gathering of 25% of the building capacity or 50 people total.The limit on outdoor gatherings is...

Any number of title issues may arise, even after the most meticulous search of public records. These hidden defects are dangerous because you might not learn about them for months, or even years, after purchase. Some common examples of risks covered by your...

Focus is the one aspect of business that you can't afford to lose. HOW TO KEEP YOUR FOCUS   #1 - Don't expect to be appreciated. Don't allow what you do to affect who you are. #2 - Do your job well. Resist the temptation to go through the motions. When you stop...

The Wuhan pandemic, which made Manhattan an epicenter of the virus, had a catastrophic impact upon the number of real estate contracts signed in May. For the month,  there were just 160 signed, which compares with 992 signed in May of 2019. This represents an 84% drop...

Passaic County Single Family Homes for April Key Metrics 2019 2020 Change New Listings 531 152 - 71.4% Closed Sales 221 167 - 24.4% DOM* 72 55 - 23.6% Median PX $329K $365K + 10.9% % of PX 99.1% 98.8% + 0.3% Inventory 1,255 706 - 43.7% Months Supply 4.7 2.9 - 38.3%...

CoreLogic reported that whole prices on a national basis increased 5.4% in April year-over-year. The price increase is considered to be again the combination of a number of factors: the extreme crisis in inventory shortages, low mortgage rates and finally pent-up...

Morris County Single Family Homes for April Key Metrics   2019   2020   Change New Listings  913     657    – 28.0% Closed Sales 329     309     +  1.4% DOM*              71       72     + 1.4% Median PX $411K  $445K  + 8.1% % of PX      97.1%  97.6%  + 0.5%...

Home buyers are reflecting an invasion of interest in buying homes based upon the spike in new purchase mortgages. This reflects a 54% spike in mortgage applications since early April. The number of refinance applications showed little change, but reflected a...

Union County Single Family Homes for April Key Metrics 2019 2020 Change New Listings 850 288 – 66.1% Closed Sales 373 308 – 17.4% DOM* 56 53 + 5.4% Median PX $369K $449K + 21.9% % of PX 99.0% 99.0% + 0.0% Inventory 1,805 1,053...

Monmouth County Single Family Homes for April Key Metrics 2019 2020 Change New Listings 1,270 440 - 64.5% Closed Sales 506 491 - 3.0% DOM* 68 61 - 10.3% Median PX $429K $485K + 13.1% % of PX 97.2% 97.8% + 0.6% Inventory 3,139 2,025 - 35.5% Months Supply 5.5 3.7 -...

While the stock market recovered significantly in March, the effects of COVID-19 to the economy continue to build. In just the last four weeks, more than 20 million people nationwide filed initial unemployment claims according to the United States Department of Labor,...