CNBC Talking Heads Say Time For Bargain Hunting in some local Real Estate Markets.
Hello Everyone,
The talking heads on CNBC have been commenting almost without end on the state of the real estate markets and lately on the Sub-Prime & Alt-A mortgage inspired credit crunch among the real estate mortgage lenders.
This week it seemed like the tone of their comments seems to have changed a little. They have had several market commentators on (They think of themselves as experts) talking about how, especially in the North East, especially the NYC and North East New Jersey the real estate slow down started before the rest of the country, and how this area is coming out of the slowdown ahead of the rest of the country. One of the commentators, a long time large real estate investor, stated that it is now a time of confusion, and like all times of confusion it is time to go bargain hunting in the local real estate markets.
I wanted to comment on the state of the real estate market especially in my area of New Jersey, Morris, Essex, & Union Counties. As I state in the my article What Is Happening In The Local Real Estate Market our local markets seem to be stronger than the national real estate market looks. The national real estate news is very heavily impacted by California, Florida, Arizona, Nevada, & a select few other non North East States. Keep that in mind when you listen to them talk about the new in real estate. New Jersey and our local markets here in the North East part of the state are doing much much better then they would have you think.
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James Boyer
Realtor Associate
Keller Williams Real Estate
Summit, NJ 07901
973-647-0253 (Direct)
Specializing for
Morristown NJ Real Estate, Madison NJ Real Estate, & Chatham NJ Real Estate all in Morris County New Jersey, give James Boyer a call 973-647-0253 (Direct)
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James, Those talking heads will get a person in more trouble than one can imagine. This is just my opinion, but they are usailly late to the game (so to speak).
Charles McDonald
REALTOR, Licensed to sell Real Estate in the Commonwealth of Virginia
http://www.mycharlottesvilleagent.com/ http://www.mycharlottesvilleblog.com/
"Whatever your mind can conceive and believe, it can achieve." - Napoleon Hill
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They are avoiding the distasteful truth that they are watching for those "must sell" situations that can easily be exploited.
Charles your statement is generally correct, though a few of the talking heads were not CNBC's normal commentators, but people who are actually in the real estate industry as investors, landlords, developers.
Larry What you said in some cases is true as well, but then again if you cannot find any other buyer for your home you might be happy to sell to one of these so-called distasteful people exploiting the Must Sell situation. Better than letting the bank take the home. I have not found vary many home sellers in my area who are in this sort of situation though. I read someplace that the % of Sub-Prime mortgages in this area is significantly lower than the national average.
Like I said, there is a lot of confusion in the Real Estate markets as of late, when there is lots of confusion, that is when you get the best deals, be it in the Stock Market, or the New Jersey Real Estate Market.