As the New Jersey economy continues to wind its way through a phased reopening, home buying activity is on the rise. At the heart of this rebound are record low interest rates, rising optimism, and a surge in the migration rate from New York City to the suburbs. And while this surge began in entry-level homes, it has expanded all the way up to the super-luxury sector.
Being successful in real estate requires a clear understanding of emerging trends, cutting edge pricing skills, and strong communication skills. Jeffrey Otteau has developed this briefing to prepare you for the remainder of this year and Spring 2021. Get your laptop and come into Jeff’s study where he will personally guide you through the housing forecast for New Jersey so you can counsel your clients and maximize your business model.
Here is a sampling of what you will learn:
- Suburban Surge: As we predicted all the way back in March, the Pandemic delayed the start of the ‘Spring Market’ by a few months as improving consumer confidence and record low interest rates fueled a surge in sales this Summer. This roundup will examine where this is happening and what it tells us about home buying activity during the Fall and Winter months.
- Urban Flight: You have seen the reports about an exodus of households relocating to the suburbs along the lines of what happened following the terrorist attacks in 2001. Is this another a short-term blip or only the initial wave of more to come? Find out what this means for future housing demand and how it will impact your submarket.
- Home Prices: ‘How much is my home worth’ is the most asked question in real estate, which is why understanding where prices are today, and where they’re heading in the future, is something you absolutely need to know. We will provide you with the latest analysis on home prices right down to the submarket-level, so you’ll have all the answers.
- Local Housing Report Cards: Keeping pace with the ‘ups and downs’ of the 2020 housing market is a real challenge. We’ll make it easy for you with a town-by-town summary of local conditions and trends.
- Getting Back in the Game: The severity of the Pandemic caused buyers and sellers to move the sidelines. Is now the right time to jump back in with both feet, or is there still more risk ahead? We will also reexamine the concept of Right Pricing! in a Pandemic so you recommend the best strategy and be more productive.
- Forecast Timeline: Where will the market be in 30 days, 90 days and next Spring? Does the potential for a spike for the virus or rising foreclosures later this year spell more trouble ahead? Or, is the worst behind us with clear skies ahead. We’ll prepare you for happens next in the housing market so you can counsel your clients and fine-tune your business model.