Short Hills, Millburn, Livingston, New Jersey and Midtown Direct Real Estate, Home Buying and Selling, Top Realtor, Perri K. Feldman

Contact Perri K. Feldman 973.650.4727

Residential Real Estate is a LOCAL Market Product, Even in New Jersey

Published on October 4th, 2007 by | Filed Under: Buying a Home in NJ, NJ First Time Home Buyers, Real Estate News

SoldHot New Jersey Real Estate Markets…Think LOCAL!

I just had to share a piece from Keller Williams Realty International:

TOP STORY: Gary Keller: The only market that matters is yours! 

Last week on the Today Show, during a segment on the national real estate market, CNBC’s Jim Kramer uncompromisingly stated, “now is the absolute worst time to buy!”

Concerned that remarks such as these from so-called experts might be pushing potential buyers to the sidelines? 

Here’s what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current market: 

First, residential real estate is not a national market product — it is a local one. To say from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees — it is a useless and irrelevant perspective. What is happening in your local market is all that matters. 

Second, trying to predict when it is a good time to buy, or not, means you’re trying to time the market. Staying on the sidelines is the surest way for most people to never time anything correctly. 

Last, and maybe most important — there are always two markets in every market. There is the market of properties that are good buys and there is the market of properties that are not a good buys. Interestingly enough, this is true in either buyer or seller markets. To categorically say that this is the time to buy or not is absolutely ignoring the fact that every market really has two markets inside it.

  1. Clearwater Beach Real Estate

    I couldn’t agree more – buyers need to work with a local real estate expert. We see people sitting on the side lines now and we’re seeing the best beach prices we’ve seen in 2-3 years – that definitely won’t last – you need to know your local market. the people of New Jersey need a reasource like you! – Cyndee Haydon

About Perri

Perri K. Feldman

"Perri was very reactive AND proactive. Clearly, she has an excellent grasp of the towns and counties she covers and went the extra mile to educate us on an area we were not entirely familiar with." Steve & Laura Lee

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About Perri

Perri K. Feldman

Contact Perri K. Feldman Your Neighborhood Expert

Mobile 973.650.4727

Office 973-376-0033

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