Is Now the Right Moment?
January 23rd, 2009
In last Sunday’s New York Times the headline in the Real Estate section was “For the Brave, the Moment is Now”. The article goes on to say that in New York City, in the last few weeks, first time homebuyers are beginning to take advantage of depressed prices and very attractive mortgage rates. Buyers without a place to sell, who have stable jobs and good credit are certainly in the drivers seat right now. Many who previously were priced out of the market can now afford to own their own home.
Traditionally, as the New York City market picks up, the increase in activity ripples out to surrounding areas. The homes that are moving in our area tend to be the lower priced homes. Fourteen Condominiums or Townhomes went Under Contract in the last month, in the area of Bernards Township, Bedminster and Bernardsville, which is two more than the same time last year. So the dream of home ownership is now becoming a reality for some who previously found it just out of their grasp.
Posted by:
Susan Wagner
