I've found a great article that elaborates on what we can expect from the New Jersey real estate market in 2016. There have been conflicting reports in the media due to the recent increase in interest rates, but some local experts weigh in on what to expect and you might be surprised at what you hear.
Hudson County is looking to perform much better than expected in 2016. Harrison is expected to be one of the state's most coveted areas for commuting workers in the Northeast Corridor due to Newark's commercial boom.
Areas like Asbury Park are also expected to take major steps in 2016. With the right combination of commercial and mixed-use areas, as well as the hotel development, this area should be booming by the end of 2016.
W. Nevins McCann of Connell Foley LLP says that our robust state incentives will draw a lot of commercial businesses to the area this year. The savings here compared to NYC are just too good to pass up. Despite the looming rise in interest rates, multifamily will not slow down, as demand will be driven by millennials who are more inclined to rent than to buy.
As you can see, we're set for a dynamic year in real estate. If you need help navigating the market this year, please don't hesitate to reach out to me!
Author:Patrick Southern Phone: 201-232-3381 Dated: January 15th 2016 Views: 374 About Patrick: ...
Professional New Jersey Realtor Associate Patrick C. Southern, is a seasoned veteran boasting 10+ solid years of experience (and has been a top producing agent for the past 8 years consecutively). Presently, Patrick is procuring sales in a wide range of areas across North Jersey and is the #1 producing realtor in Hudson County with over 550 homes sold throughout his career to date. Impressively, in today's rapidly changing real estate market Patrick's business has actually increased by 20% every year for the past 4 years.
Patrick's success in closing transactions can be attributed to a multitude of significant factors including his exceptional work ethic, his continuous effort to educate himself in his field daily, his highly qualified team (including buyer's agent & transaction manager) and his extraordinary database of resources in his field , related to his field and beyond.
Being a lifelong NJ resident, experienced realtor, property owner and investor himself, Patrick has a deep rooted understanding of the NJ market; but most importantly, Patrick always has his clients’ best interest in mind and by setting realistic goals Patrick is able to not just list your home but ultimately sell your home. Patrick is best known for his proactive approach to sales and his undeniable ability to get the job done.
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"Anthony helped me purchase my first home (a 2 bed, 2 bath condo) in Hoboken in July 2015. To rate him a 5* is an understatement. Having lived in Hoboken for eight years and had friends buy places during my time there I thought I knew what I was doing, but having Anthony help me throughout the process proved to me why you MUST work with a realtor that knows the area in which you are looking.
Being my first home buying experience Anthony did an incredible job of laying out the home buying process and walking me through each step - he was even able to recommend professionals in other areas for me to work with throughout the process (mortgage broker, lawyer, even a painter)! He even dealt with my NUMEROUS questions (at all hours) and did so promptly and with a smile!
Most importantly he listened to what I was looking for and only showed me properties that appealed to me and made sense.
Working with anyone besides Anthony to find your next home would be a huge mistake!"