What’s in store for 2015?

Unless we get a flood of listings, we will see a continued lack of inventory.

Our buyer and renter traffic will continue to come from Brooklyn, Manhattan, Jersey City and Hoboken where prices remain prohibitive and make Montclair look like a bargain, despite tax sticker shock. However, taxes will continue to give buyers of homes over $1.2 million ($40k plus in taxes) pause.

Continued low interest rates and favorable bank lending programs (witness the return of the 80/10/10 or “piggyback” loan) will help drive demand in 2015.

Do you have questions about what you need to do now to prepare your home for sale in 2015?

Do you know how to tip the odds of getting your purchase offer accepted this Spring?

Feel free to email me your thoughts and questions.

Best Rich