Needed Pronto! New Listings in the Pascack Valley-Signed the Buyers

The well qualified buyers are out there, problem is, there seems to be a lack of quality homes available in the Pascack Valley and surrounding Bergen County towns in New Jersey. The bad winter we experienced in North Jersey, seems to have delayed some sellers from putting their homes on the market. I have active, motivated buyer clients looking for new inventory, but many of the homes available have been sitting on the market for one reason or another. Many current listings are overpriced, have inferior locations (main road, near railroad tracks, or next to a commercial property), or in need of some serious updating. And most buyers won’t even touch a short sale due to the months of waiting to hear back from the banks and the uncertainty of waiting around and not knowing exactly when the closing will be. They do make sense though and worth the wait if you are in love with the house and/or getting a good, under market price.

I have talked to some of the high profile listing agents in the area and they too seem to be not getting consistent, new listings so far in 2011. There appears to have been a slight uptick in activity on the New Jersey MLS, but many are homes that were previously available, expired, and are now back on the market.

The price ranges I have been working with from $400,000 to $525,000 mainly has buyers who are purchasing their first home or stepping up from owning a condo. This range definitely has a dearth of good homes and when a good one does come on the market, there are multiple offers.

The spring market seems to have started early this year for the buyers, but the sellers never received the memo. Hopefully the potential sellers are getting their homes ready to show and will have them on the market by April. So lets so sellers! LIST NOW!