A: Happy Thanksgiving 2022 to everyone in my real estate insider family! Here are 3 recent real estate trends I am thankful for this Thanksgiving: lower inflation Higher housing inventory home prices flattening and housing becoming more affordable
continue reading Q: Why did home prices go up so fast during the pandemic? Sam, Westfield, NJ A: There are several reasons home prices went up so fast during the pandemic, but one overlooked reason is the “investor mania” that was unleashed by speculative home buyers and investors. Many amateur real estate investors and buyers poured into local housing markets during the pandemic in hopes of building Airbnb and VRBO empires. In addition, Institutional investors ramped up their algorithm-driven home buying and rapidly expanded their residential real estate portfolios during Covid. All this increased demand for residential homes drove home prices higher than otherwise probably would have been. Thanks for your question, Sam. For more real estate tips and information visit […]
continue reading Q: Now that he is vaccinated, my son is moving back to Manhattan. The realtor he spoke with told him to prepare for a bidding war with other tenant applicants. Are there really bidding wars for apartments now? Harriet, Mendham, NJ A: Yes, it sounds crazy but there really are bidding wars now both for city apartments as well as for single family home rentals. After many people fled Manhattan during the pandemic particularly at the outset of when NYC was an epicenter for Covid spread, many people are being called back to work and others like your son, who are now vaccinated are being drawn back to the city for the same reasons they were drawn to cities in […]
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