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50-Year Mortgage
At first, this sounds like a ridiculous idea, at least that was my initial reaction. However, the more I thought about it, the more positives I came up with as a short-term solution. Here is a video of my thoughts on it ...
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Northern NJ Market
If you’ve been following my newsletters since the late summer, you’ve probably noticed I was talking like there was a noticeable trend I figured out. However, since the Feds cut interest rates, especially after September 18ths cut - all of that is out the window. Although, I did mention the same problem with inventory happened during last years 4th quarter cuts.
Here's the notable changes this week.
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Bergen County: New listings are down 11%, while sale prices are up 7%.
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Essex County: The market remains strong with new inventory and rising prices — up 4% in listings and $8,000 in MSP. (I'll have a video about this too - check back at my YouTube Channel)
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Passaic & Morris Counties: Both markets remain steady, showing little change from last week.
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Hudson County: Inventory is up 13% compared to last year and 9% from last week. However, the median sale price dipped 1%, marking the first time in years that prices have fallen below last year’s levels.
Looking for more detailed information in your town? Reply to this email and I'll get you the data.
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