It’s been a rollercoaster economic year with plenty of loops and that includes the New Jersey real estate market.
There are so many moving parts and prices that it is difficult for some to know what to do and when to make a move, if at all, including hiring a real estate agent for your needs and interests.
Charley O’Rourke, also known as “Mr. Middletown”, is the head of the “Hyper Local Experts” real estate group at Mr. Garden State & Co. and the founder of Mr. Zip Code.
He was a guest on ‘Shore Time with Vin and Dave’ on 94.3 The Point and 105.7 The Hawk on Sunday morning, speaking with myself and Dave Crossan of Shoreline Wealth Management about what to do in real estate and making decisions on buying and selling right now.
“It’s still a very hot and strong seller’s market,” O’Rourke said. “We’re geographically blessed in New Jersey — New York, the beaches, all that transportation — so there are multiple and a fair amount of deals on the inventory that’s out there. I mean, the rates are still historically low, they sound like — five percent sounds like crazy, that’s high, but if you look back in time, that’s still really cheap money , so the background does not fall.”
There’s still room to make some sort of movement and people are still looking right now, but not a lot of them.
“If there were 30 offers on a house six months ago, three months ago – if the house comes out, its price is right, it’s in good condition – there are six offers, it’s still more than one that’s going to drive the prices up and make people put their best foot forward,” O’Rourke said. so much home inspections and stuff like that. It’s still a very strong seller’s market.”
You can listen to the full interview with Charley O’Rourke on “Shore Time with Vin and Dave” and his real estate insight, here.
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