Page 76 - The Connection Bernards-Ridge Edition, September 2012

PAGE 76
www.theconnectionsnj.com
I hold the “key”
to your real estate
success!
Direct:
908-399-3408
•RE/MAX Hall of
Fame
•Top 10 in the State
of New Jersey for
RE/MAX in 2011
Cynthia Ruggiero has made a name for herself over the course of
more than 20 years in New Jersey Real Estate. Having been raised
in Bernardsville in Somerset County and now a long time resident
of Long Valley in Morris County, Cindy’s wealth of experience is of
the utmost benefit to both Buyers and Sellers alike. Ranked Number
8 in 2011 for the entire state of New Jersey in RE/MAX, Cindy was also
named in New Jersey Monthly Magazine, March 2012 as a 5 Star pro-
fessional and named in Top Agent Magazine January 2012, as a top
sales professional!
Cindy strives consistently to...
• Provide an opportunity for all of her clients to achieve their goals, while fulfilling
their dreams;
• Implement and maintain high ideals throughout all of her real estate performance;
• Foster an atmosphere of respect and dignity, embracing diverse backgrounds and the
open exchange sought in her communications;
• Transform the communities which she serves through extensive community outreach
efforts and her volunteer activities;
• Always find the most advantageous solution for her clients in all aspects of real estate,
leading to many years of repeat referrals and nods of approval.
Respected by her peers, requested by name by clients, Cindy “Has-sold”
millions and looks forward to making You, her Clients for life!
RE/MAX Heritage Properties
259 Main Street, Chester, NJ 07930
908-879-4700 ~ ask for Cindy Ruggiero
Expanded Stone Colonial on 5.13 level acres
with 5 bedrooms and 5 1/2 baths. $550,000
When Only The Best Will Do...
Cynthia M. Ruggiero
Cindy@CindyField.com
By: Cynthia Ruggiero
Re/Max Heritage Properties
WHERE IS THE “REAL” REAL
ESTATE MARKET? There is a large
inventory of homes on the mar-
ket – some on the path to foreclo-
sure, others having to be sold
through short sale. However, the
majority of homes for sale are avail-
able to be sold conventionally. The
issue surrounding the current state
of the market lies not with the
inventory of homes for sale but
with the qualification of the buyers.
Let’s take a look at who is impact-
ing the market today, based on
generations and why buyers are
struggling to qualify to purchase a
home.
The Traditionalist [1922-1945) is
not necessarily affecting the hous-
ing market the way other genera-
tions are today. Individuals in this
generation tend to either live in the
first home they ever bought,
moved in with family members or
have taken up residency at a retire-
ment home.
The Baby Boomers [1946-1964]
are counted for 72 million people
in the U.S. today. The Boomers are
alarge part of the U.S. population
who are impacting the housing
market. Many of these individuals
are on the brink of retirement but
do not have the ability to retire due
to increase in the cost of every day
living and the loss of funds in the
stock market and 401ks. Since the
Baby Boomers are not retiring,
there aren’t the necessary amounts
of jobs opening up for college
graduates. Many people in this
generation have become caretakers
for their parents and their own
adult children (Millennials).
Another component contributing
to the stunting growth of the hous-
ing market are the 55+ communi-
ties. This type of housing communi-
ty is ideal for individuals looking to
retire, which leaves other types of
homeowners struggling to sell their
home.
Generation X [1965-1980 ]
makes up a significantly smaller
amount of the U.S. population,
with only 30 million people. This
generation poses one of the bigger
threats to todays housing market
as many were forced to move back
with their parents when they were
in their 20s due to the decline in
the U.S. economy in the 80s.
Individuals in this generation were
more geared toward buying town-
homes, as this type of residence
seemed to be more financially
sound and closer to or located in
cities where there were more jobs.
The issue now is that townhomes
are a challenge to sell. Many are
designed with 1-2 flights of stairs,
which minimizes the buyer pool.
The townhome market has fallen in
price leaving owners to either short
sale, hold on to the home or use it
as an investment property.
The Millennials or Gen Y [1980-
1994] who are 70 million strong,
are trying to enter the workforce
with fury, however, there aren’t
enough jobs for them. Millenials
also struggle to qualify due to over-
whelming amounts of student
loans and credit card debts. When
this generation gets on their feet,
watch the housing market soar!
The point is supply and demand .
There are a plethora of homes on
the market, but the issue resides in
the number of qualified buyers
looking to purchase a home. It does
not appear as if the housing market
will be on the road to redemption
until 2020 when the workforce is
back on track.