If you have to sell there well then it won't matter. However if you can afford to wait out the storm you should and maybe just maybe you can sell for a profit.

PRUDENTIAL UNITED REALTORS®
Helmer Zapata, Salesperson, Realtor®, eCertified®
2116 Morris Avenue
Union NJ 07083
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So, how about an update? Did you place the home on the market? I actually think we spoke... let us know what you decided.

This was posted on oct 16, 2007. nj home seller that bought in 05. How far under are you in 08?

I think that would depend more on what happens with the Capital Gains rather than the Real Estate Market.

Hi Sheela, you are a winner when you hold on to the property for a long time. Your market may be different than mine, I suggest you consult with a local Realtor in your area. Try http://www.remax.com

Hi,
While industry averages for an area may point in an overall direction, with real estate, it can really come down to specific local areas. And, yes, a particular complex might be performing better than neighboring complexes. Overall, I can tell you that condo sales are down 8% in East Brunswick, this year to date over last year. However, if we looked at stats for Society Hill, Kingswood Station, or Country Woods, we may come up with stats that were below or above that number.

I don't expect a strong turn around this year, or even in 2008. However, I wouldn't recommend to you that you make a decison without an in depth discussion about your unit, your complex, and your individual needs.

Regards
Deborah Madey - Broker
Peninsula Realty Group
732 530-7755 Main
732 530-6350 Direct

PS. Thanks Pam!

The answer depends greatly on the economy and the interest rates. As the economy improves there are more people who can afford housing. And there are many people who have put off buying a home this year because they think the real estate market is going down. They will be ready to pay a fair price in 08. Economists expect an improvement in prices in 09, but will it catch up to the prices in 04 or 05 only time can tell.

According to Jeffrey Otteau, a Fortune 500 Appraiser, the NJ market is not scheduled to rebound until late 2008, early 2009. It will be a slow recovery. Of course, no one really knows for sure and this date (from his last seminar) is a year later than he predicted last year. The best thing you can do is wait and see what the market is doing at that time.

Sheela.....

I wish I have the crystal ball here. Deborah....where are you this is in your neck of the woods.