Expert Insight Into The COVID-19 Real Estate Market

A must read for homeowners, buyers, sellers and tenants

By Paul Ziajski, Atlantic Real Estate Brokers

Man, what a week! I feel like I’ve spent 200 hours on research, webinars and consults. This is truly an unprecedented event. The information is so fluid. I took some time to gather my thoughts and summarize what I’ve learned. It’s a long read but I hope that someone finds a useful piece of information. Have an awesome weekend and stay safe!

– The circumstances surrounding the current market conditions are, clearly, different from those that caused the financial and housing crisis in 2008. Although many agree that the housing market will experience a correction, very few are predicting that it will be impacted as severely as it was during the Great Recession.

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More than 240K N.J. mortgages said to be ‘seriously underwater’

The share of “seriously underwater” properties in New Jersey declined from a year ago, according to a new report, but more than 240,000 homes still fell into that category in the third quarter of this year. Residents owed at least 25 percent over what what their home is worth on 13.8 percent of all residential properties… Read the rest of this entry »

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N.J. leads nation in all-cash home purchases, report finds

Nearly half of the homes sold in New Jersey in May went to buyers who paid all cash, according to a new report, giving the state the largest share of those types of purchases in the country. The report released on Thursday morning by the Irvine, Calif-based housing research firm RealtyTrac shows 48 percent of single-family… Read the rest of this entry »

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