Buyers who don’t have a 20 percent down payment are finding it harder and harder to buy a home. Click here for some sources of money that are still available and the pluses and minuses of using them.
WASHINGTON, December 10, 2007 - Existing-home sales are projected to trend up in 2008, with pending home sales showing a slight near-term rise, according to the latest forecast by the National Association of Realtors®. However, a recovery for new-home sales is unlikely before 2009.
SUMMARY: Prices are virtually flat as compared to last year. This flies in the face of all the media reports of dropping home prices. And while real estate markets are extremely localized, many towns in Bergen County have seen rising prices while some have seen some modest declines. All indications seem to point to a stabilizing market, and with dropping mortgage rates, 2008 should be a strong year for Bergen County home prices.
SPECIAL NOTE: I’d like to offer you a free special report I have prepared on home sales in your area in the last 60 days. Everyone I send it to finds it very interesting, and I’m sure you will too. There’s no obligation, and you can call directly in to my special voice mail box at (800) 519-1886, ext. 589 to order the report.
The above statistics are for all single family homes sold in Bergen County during the times indicated. 2006 statistics have been adjusted to eliminate a $58 million land sale reported as a single family home.
These statistics represent single family homes sold through the New Jersey Multiple Listing Service during the time periods indicated.
