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: 450 About Patrick: ...
Professional New Jersey Realtor Associate Patrick C. Southern, is a seasoned veteran boasting 20+ solid years of experience (and has been a top producing agent for the past 10 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 2000 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 fie ld, 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.
Downtown Jersey City homeowners nervously welcomed the New Year cogniz
"Patrick Southern listed and sold my Hoboken condo and I could not have been happier. We talked a number of times over three years as I rented out the property as an investment. As soon as I was ready to pull the trigger and list, Patrick was there to work with me every step of the way from determining the list price, to discussing a sale strategy, to completion of the sale. I received multiple offers and was very pleased with the offer and price I ultimately accepted. I live in San Francisco and so it was of the utmost importance that I have an agent who I could trust to run the show from 3000 miles away. Patrick and his stellar staff did just that--taking care of necessary details, getting documents as necessary to me on the West Coast, communicating with me in a timely manner despite the time difference, and generally making the process smooth for me even though I was far away. I am an agent myself in San Francisco and so I know how great Patrick is. Highest marks for knowledge of the market, professionalism, and responsiveness."