Knowlege Breeds Confidence

Lately it's been hard to open a newspaper or turn on a TV or radio and not be bombarded with stories about the sub-prime implosion and the ailing real estate market. More often than not, there is an economist being interviewed or quoting figures on national stats. The funny thing is that while these national statistics may be useful for economists, they often don't mean much for someone who is actually looking to buy or sell a home. For buyers and sellers, what really matters are the market forces acting on their home-- in other words, THE LOCAL MARKET. What's happening in aggregate at the national level isn't necessarily what is happening locally, and is often just distracting noise. (Jonathan Samuel had a good post about this on the Matrix blog, entitled, "There is no National Housing Market"). The other important thing to note is that at the local level, the market often behaves very differently at different price points. In one area you may find a glut of mid and lower-priced homes and the bulk market may be flat or trending down in price, while at the same time, high-priced luxury properties are in short supply and appreciating nicely. Chances are, the typical MLS summary stats won't show this. You have to look at the market by price segment to see the real story.

This information provided by: Luxury Insights.

Some of the wonderful benefits of living in Morris and Somerset County is the proximity that many of our towns have to the Midtown direct train service to NY. Combine that with wonderful schools and our markets have held up exceedingly well compared to other areas in New Jersey, not to mention the country.