Middletown, NJ based realtor provides insight on home market right now
It's been a rollercoaster economic year with lots of loops and that includes the real estate market in New Jersey.
There are so many moving parts and prices, that it's hard for some to figure out what to do and when in making a move if at all including hiring a realtor for your needs and best interests.
Charley O'Rourke, also known as "Mr. Middletown", is the head of Mr. Garden State & Co. Real Estate Group "Hyper Local Experts" and the founder of Mr. Zip Code.
He was a guest on Sunday morning on 'Shore Time with Vin and Dave' on 94.3 The Point and 105.7 The Hawk speaking with myself and Dave Crossan of Shoreline Wealth Management on what to do in real estate and making decisions on buying and selling right now.
"It's still a very hot, strong seller's market," O'Rourke said. "We're geographically blessed in New Jersey -- New York City, the beaches, all that transportation -- so, there's multiple and a fair amount of offers on the inventory that's out there. I mean, rates are still historically low, they sound like -- five percent sounds like crazy, that's high, but if you look back in time, that's still really cheap money, so the bottom's not falling out."
There's still some room to make some kind of move and people are still looking right now, but not many of them.
"If there was 30 offers on a house six months ago, three months ago -- if the house comes out, it's priced right, it's in beautiful condition -- there's six offers, it's still more than one which is going to drive prices up and make people put their best foot forward," O'Rourke said. "People are being a little more cautious which is good, they're not waving home inspections as much and stuff like that. It's still a very strong sellers market."