1. Homes are selling faster! The absorption rate for Union, Essex and Morris/Somerset counties combined is at 5.52 months of supply! This is a 33% drop in home inventory from January 2012!
In the most popular towns within the above counties, home inventory currently stands at only 3.39 months of supply! We have a seller's market in most areas!
2. The economy is stronger! The S&P stock index is 6% from its all-time high! Employment has improved around the country, and consumer sentiment has also improved.
3. The tax changes resulting from the first half of "Fiscal Cliff" budget talks have proved to be modest, keeping the Bush-era tax cuts in place for most taxpayers.
4. Mortgage interest rates are at all-time lows, with 30-year fixed rate mortgages available under 4% for well-qualified borrowers. 15-year mortgage rates are also incredibly low, making it feasible for home buyers to plan for mortgage-free living!
5. Home builder positive sentiment is at a 5-year high!
6. Our local home inventories are at a 7-year low! There are more buyers than homes!
7. We are having a mild winter, and home buyers are looking at homes for sale now!
If you are thinking of selling your Millburn-Short Hills or Summit, NJ home, don't fall for the gimmicks of "discount" brokers. As the #1 agent in the Millburn-Short Hills market from 2010-2012, I know how to sell your home for the best possible price, while covering all the details to ensure a smooth transaction!
Curious about your home value, or getting ready to sell? We will begin with a comparative market analysis to find out your home's price range in today's market. I will also provide a net sheet to estimate your sales proceeds after the customary expenses, so you know your position. These services are all part of my professional listing presentation, which I offer for free, with no obligations and no pressure!
As your Millburn-Short Hills real estate professional, I will provide expert guidance for a successful home sale. Real estate is a four-season business - I can help you sell your home in Essex and Union County any time of year, in any market!
Contact me today, and let my 18 years of experience be your selling advantage!
Elaine Pruzon
Coldwell Banker Residential Brokerage
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