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There's Nothing Old About the New Jersey Real Estate Market
from:When it comes to property, one of the largest and most active locations in the United States is that of the New Jersey real estate market. With approximately 18 counties and numerous cities and towns, the Garden State offers a number of property settings in both urban and rural settings. Whether in the market to buy or sell, one can find single family homes, commercial properties and even vacation rentals right on the Jersey shore. As one of the oldest states in the union, the state plays home base to many corporations and major industries, from insurance companies to textile mills.
Like any other market, New Jersey real estate trends go up and down with the times yet manages to remain quite vigorous compared to other areas of the country. Census records indicate that the state consistently ranks in the top five for having one of the highest median incomes. Of the top 100 richest counties across the U.S., New Jersey has nine. This has quite an effect on New Jersey real estate on both residential and commercial levels. Businesses that move into the state and set up on commercial or industrial properties bring employees that also set up in residential properties.
Although the New Jersey real estate market is one that is known to have higher median home prices and property taxes than other states, many have found affordable single family homes by staying directly out of urban areas and opting for the outer lying vicinities. The recent housing boom has had some of its greatest success throughout New Jersey, allowing prospective buyers to find ideal locations at reasonable prices. Rural home sales in the state also carry a good part of the market. With its long history as an industrial hub and a number of ultramodern factories and mills, the sale of industrial properties also helps to keep the market busy.
The New Jersey real estate market is also a bonus for investors of vacation properties thanks to the many miles of glistening beaches on the Jersey shore. A hotspot for couples and families on retreat, picturesque beach towns often find themselves renting out vacation homes year round. Whether making an escape for just the weekend or an entire summer, it is very much tradition for guests to rent fully furnished homes rather than hotels to stay in. With homes being rented by the weekend, week or month, investors of vacation properties are known to see a better than average return on their investments. There are some New Jersey real estate companies that have now turned to dealing exclusively in the outlay of beach properties.
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Home prices to dip, but tumble unlikely - Xinhua
Home prices to dip, but tumble unlikely Xinhua Sluggish demand has ruled out big price increases while property developers are unlikely to slash prices because of high land costs, according to the academy's annual report on real estate. "Property sales will remain low this year, despite a rebound ... |
Rates are Great, Home Prices Less Filling - Fox Business
 Mortgage Rates & Trends | Rates are Great, Home Prices Less Filling Fox Business Housing data released this week show both prices and sales have improved in recent months. Home sales increased 3.3% in April, according to the Commerce Department. Sales jumped to a seasonally adjusted rate of 343000, up from a 332000-unit pace in ... MBA Increases Originations Estimate for 2012 by Almost $200 Billion Mortgage Rates Drop to New Record Low Market is finally reacting to record-low mortgage rates |
Home sales up across the country, hopeful sign - The Star Democrat
 MiamiHerald.com | Home sales up across the country, hopeful sign The Star Democrat A pickup in hiring and cheaper mortgages, combined with lower home prices in most markets, has made home buying more attractive. While many economists acknowledged that the market has a long way to go, most said the April sales report was encouraging. South Florida's real estate market looks hot again Ohio home sales up for tenth straight month Rise in new-home sales bolsters sense of housing revival |
What it takes to buy a home - Chicago Tribune
 Chicago Tribune | What it takes to buy a home Chicago Tribune It could be a great time to buy your first home. In many cities, home prices have bottomed and rents have risen. Mortgage rates are still superlow. In fact, homes haven't been as affordable since 1971. On the downside, in many cities buyers have fewer ... Record-Low Mortgage Rates - Are They Hurting US Housing Market? Mortgage Rates for 30-Year US Loans Fall to a Record-Low 3.78% |
RE/MAX: More Home Sales and More Stable Prices in April - Patch.com
RE/MAX: More Home Sales and More Stable Prices in April Patch.com The Chicago real estate market is looking up, according to a RE/MAX press release. The Chicago real estate market saw rising sales and firmer home prices, according to an analysis by RE/MAX. Home sales transactions increased 14 percent in DuPage in ... |