The weather is cool and crisp, the leaves are falling off the trees and it’s now that time of year when everyone starts reflecting back as to what resolutions they want to make next year.
This year has most definitely been a roller coaster ride for the New Jersey real estate industry—though not necessarily the type where you strap yourself in, raise your arms and scream in delight. When you’re working in the real estate profession, the only ride you prefer to be on is one that goes straight or straight up, but not up and down.
We asked a few New Jersey real estate professionals to reflect back on this past year and see if they could peer into their crystal ball to forecast next year’s trends and predictions.
Scott A. Breyer, a marketing and sales associate at Walter R. Breyer Real Estate Company in Oradell agrees that he’s been on the same ride as everyone else, but he's hopeful about the signs that change is on the horizon.
“For the first time in a long time, we started to see gains in pre-existing housing sales amongst New Jersey areas—mainly if the sales were below $600,000,” he says. “Some of this was motivated by the $8,000 first-time buyer tax credit, if a buyer closes before December of this year. Despite all the negative news, mortgage money has been readily available to those who are qualified to borrow.”