October was a interesting month for home sales in Morristown New Jersey. With the credit crunch there were certainly some home purchase deals which fell apart because of mortgage companies not wanting to fund the home purchase loan, and there were some home buyers who were scared away by all the bad news.
It happens every presidential election year where a new person takes office. Everyone becomes much more possitive once the new guy is elected, and the possitive attitude only increases once the newly elected president takes office.
The general public’s attitude has been so negative over the past several months, negative to the point that it is not sustainable. I think that it is not going to take much to turn things moderately more possitive. These sorts of things tend to feed on themselves actually. Once the public’s mood starts to turn, more possitive things will start to happen, and then the next wave of possitive things will happen.
I believe that the New Jersey real estate market will be this way as well. Just this weekend, I took 3 different couples out to look at homes, and I have to say that the deals were so good, that all of them were amazed. Two of the three couples are seriously considering putting offers in on homes we looked at this weekend.
To me this is a very good sign for the Morristown NJ real estate market, as well as Chatham New Jersey and Summit New Jersey. For more information about Morristown NJ homes for sale visit the Morristown website listed here.
It is always darkest before the dawn.
This will be a summary of September 15, 2008 in the life of a Morristown NJ REALTOR.
The day started as most every other Monday morning during the school year does. Up at 7:30am to help my 10 year old son get ready for school. We deal with ADHD (Attention Deficit Hyperactivity Disorder) in our house, so no TV in the morning, just breakfast, talking about the day, and getting ready. By 8:26 we are out at the bus stop, waiting for the bus and talking with one of the neighbors who works for one of the Investment Banks on Wall Street in Manhattan. The comment comes that he got a call early that morning stating that he should be in Manhattan this morning rather than in Chatham New Jersey, where he had planned to be today. Then after his kids are on the bus, he says I am off to another day of watching the world fall apart. After he is gone, I wonder to myself, that is strange that he would be ordered to be in Manhattan, I wonder if he will be getting his pink slip today, he does not work for Lehman Brothers or Merrill. Then I am happy that I was not wondering this while talking to my neighbor.
Into my home in Convent Station I go to do some work, I work from home many days as I find I get more done than if I am in the RE/MAX Morristown New Jersey office, where other REALTORS just keep asking me questions all day. While I have my coffee and read my e-mail, I turn on NBC to watch a little bit of the morning show. There are some references to Wall Street troubles, so I click over to CNBC to see what they have to say. Not good, all about Lehman and Merrill and how they are basically toast. I decide to leave it on while I reply to e-mail and then work on client follow-up and other tasks.
While I am working and the gloom and doom is being laid out for the world to see on CNBC I get an e-mail from a soon to be new client asking about a few condos in the Morristown NJ real estate market. This person has included a phone number as well, so I give them a call. We have a nice conversation and they agree that with mortgage interest rates considerably lower now is a very good time to be a Morristown NJ home buyer.
I get to lunch time and decide that after lunch I will go to the gym for a workout. On the way to the gym, I get a call from a home owner who I had made an appointment to show her home on Tuesday. She is calling to cancel as her Convent Station home has now gone under contract and she did not want any more home showings. I have a nice workout, all the bad news is on most of the monitors, I try not to watch but that proves difficult.
After leaving the gym, I stop by the RE/MAX real estate office in Morristown to check on my mail and see if there is any paperwork that I need to attend to there. While at the office I receive a call from another Morristown NJ home buyer who I have been talking with since last week. This one is calling to say that she has just gotten her mortgage pre-approval letter finished. She was approved for a higher purchase price than she had thought she would be, but she would like to stay below that number by at least 20%. Yet another home buyer who is interested in Morristown NJ real estate.
Tonight, I get a call from a client I have been working with for a few weeks. They would like me to come over with the paperwork to list their Convent Station home for sale, as they are ready to move up and purchase a larger home for their family.
I believe that yes it is darkest before the dawn, and for the Morristown NJ area real estate markets the dawn is about to arrive.
James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
More Morristown NJ Home Sales news here.
To see the October home sales, visit Morristown NJ Real Estate sales October 2008
Let me just say, I showed a home to day in Chatham New Jersey and I and my clients were just stunned. This home was just wonderful in every possible way. Every bathroom updated with out consideration to cost, the kitchen was updated wonderfully, just everything about the house and it’s yard were perfect.
My clients were equally stunned, so we went to the office to go over the comps and I have to say the home was priced right.
So what is the point of this ramble, we put together a great contract on this home, and my point is that if you can put your home into great condition for your price range and then price your home fairly, it will sell fast and for a fair price.
If your interested in Chatham New Jersey Real Estate visit my website to see every home listed for sale in the local MLS.
James Boyer
Chatham NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
More Chatham NJ Real Estate news here. More Chatham New Jersey Real Estate news availible at the NJ Real Estate Blog.
Starting in the 1980’s and continuing through about 2005, people in many suburban areas of New Jersey, have elected to live further away from their jobs with a larger drive to work in order to find more affordable homes. This trend is now starting to reverse for many reasons, some of which we will touch on in this article. (more…)