The Northern New Jersey Real Estate Bubble has a very sobering post re: The State of the Real Estate Market.
Welcome to another edition of Price Reduced!
For all the newcomers to this blog, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve as proof that the Northern New Jersey real estate market has long since been overvalued and has started the long hard decline back to the mean. These listings are in no way an endorsement by myself, nor do I believe they are a bargain or a value. Even reduced, I still believe these homes are still grossly overpriced.
If you are currently getting ready to market your home, be realistic in pricing your home to actual market conditions. The summer is generally a slower time anyway so you will most likely see homes sit longer. Overpriced homes will suffer the same fate as those mentioned in the above article.
Price It Right, Be Happy.
