Michael's Bergen Blog

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Real Estate Agent - Keller Williams Village Square Realty - 0569304
RECENT BLOG POSTS
May turned out to be an even better month than April, which was 10% behind April of last year in sales activity. As you can see below, May was almost exactly on par with last year in terms of the number of homes going under contract. The coming months continue to be difficult to predict, as there...
06/14/2009
Since early March the local real estate market has been steadily improving. Activity is still below last year's levels, but as seen in the number of accepted offers, it's only 7% off the pace in northwest Bergen. Factors contributing to the return to market normalcy include the tax credit for fir...
05/07/2009
This week we take a look at how buying activity has slowed, using the number of homes under contract as the measure. In Bergen County as a whole, the number is down 22%, northwest Bergen is down 40%, Ridgewood is down 33% yet Fair Lawn is up 76% from 17 to 30. source: NJMLS. Information deemed re...
03/20/2009
The February data for Bergen County shows a very mixed picture. While the volume of sales is clearly down across the board, the median sales price actually rose somewhat in northwest Bergen while sinking in the County as a whole. And the number of homes on the market, the most significant factor ...
03/05/2009
While inventory remains at reasonable levels in most of Bergen County, prices continue to be soft and activity rather slow. Northwest Bergen County has an 8.6 month supply of homes on the market, while Ridgewood in particular has only a 5.3 month supply. A balanced market is 4-6 months. And activ...
02/20/2009
The lower end of the market is hot, the top is not. In the last two weeks I've seen several bidding wars on starter homes that were aggressively priced. In Ridgewood, for example, a split level priced at $549,000 received at least 3 offers in its first weekend on the market. In Fair Lawn, a home ...
01/22/2009
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The real estate market is quietly moving along at a pace 30% below last year. Since December 15th, 40 single-family homes have gone into attorney review in northwest Bergen compared with 57 a year ago. The country as a whole is waiting for a few things to happen before making major decisions. The...
01/13/2009
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t's been a heckuva year. With upheaval going on in all sectors of the economy, it will be awhile before the dust settles and we know the bottom of the market is behind us. As you can see from the table above, the number of sales in December in northwest Bergen is up but prices are down. With sale...
01/07/2009
t's been a heckuva year. With upheaval going on in all sectors of the economy, it will be awhile before the dust settles and we know the bottom of the market is behind us. As you can see from the table above, the number of sales in December in northwest Bergen is up but prices are down. With sale...
12/19/2008
The big news over the last three weeks has been declining mortgage rates. On Oct 30, Bankrate's overnight average on a 30 year fixed loan was 6.5%. Today it's 5.6% and still heading down. And contrary to popular belief, mortgage money is not hard to come by in Bergen County. Local banks including...
12/06/2008
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Michael Shetler

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Observations and analytics on the real estate market in Bergen County, northern New Jersey. Special focus on Ridgewood and northwest Bergen. All facts and figures based on NJMLS. Info deemed reliable but not guaranteed.