Hello NJ TSA!
Aside from the technology-related events we have all been working hard on for the past couple of months, I bring to you a new topic, one which may not be your favorite, but is commonly overlooked in today’s world, especially with the pandemic: Real Estate. Now, with a father who has been a Realtor in New Jersey for many years and is constantly on the phone with clients and other agents, I am confident enough to tell you that I know what’s going on in today’s fast-paced and crazy market.
Foremost, the housing market is a seller’s one this time around and with low inventory, buyers are willing to pay $15,000-$60,000 OVER the asking price for their future dream home. (Quick definition break – the asking price of a home is how much money the seller/owner lists the house on the market.) This means that sellers are making a lot more money than expected this year, but many homeowners are not taking advantage of this crazy seller-friendly market since buying a home right now can be tough, especially if you are not mentally prepared to pay way out of the ballpark price.
Now, you may ask, why is the housing market like this? And then I would respond by mentioning how over 100,000 New Yorkers are moving to New Jersey to get away from the crowded city and into the openness of the suburbs, and if I know anything about numbers, it’s that 100,000 is a lot of people; especially for a tiny state like New Jersey.
Anyways, today’s market is 1000% a seller’s market, and current and future homebuyers would be shocked by the way things have changed from 2019 to 2021.
P.S. – If you competed in events, then great job! No matter if you place or not, you did amazing!!!
Best Regards,
Sahil Maher
New Jersey TSA State Sergeant-At-Arms