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THE BRIDGEWATER-SOMERVILLE CONNECTION
MARCH 2013
I’m not sure if this has been a
secret, but I’ll proudly be the first to
let the truth out of the bag. Ignore
the media, ignore any pessimism and
focus on my experience. Because it is
true, the real estate market is back.
The moment that we all have been
patiently waiting for!
Real estate prices are up and
homes are selling as quickly as you
put them on the market. In January
2013,
seven of my clients’ homes
immediately went under contract. I
also received an uncountable amount
of inquiries, back up offers and buy-
ers bidding on my clients’ homes.
Does this not paint a good portrait of
what the future has in store?
Now rewinding even further back
to the years of 2004-2007, I’m feeling
a touch of deja vu, as in the good ole
days. I’m certainly not making any pre-
dictions here; I just wanted to show
you the similarities between today’s
market and the beginning of that era.
I have been practicing real estate for
25
years and although I can’t imagine
that we will ever see real estate in the
same intensity as that era, I do see
things moving quicker then I had
expected on an upward swing.
Let me simply give you an example.
After careful consideration and appro-
priate and diligent comprehensive
research, I placed a home on the mar-
ket for $959,900. There were over 7
double showings, 3 contracts and this
home is presently under contract.
During the same time frame, I also put
a client’s home on the market for
$899,900. I personally hosted an
open house and sold it immediately.
Another one of my client’s home that
I marketed for $615,000, received 2
offers and went under contract. And
one of my client’s home that I put on
the market for $499,900 received
three offers within the first three days;
selling at full price!
But wait!!!!…, I’m not done…
another one of my client’s home was
a new construction home asking
$759,900; and that too sold for full
price. The same builder had a vacant
lot; the builder used the same home
he had sold for $759,900 to show
the other buyers and sold the same
home on a vacant lot in the same
town. Wow!
Once again, keeping my years of
experience at hand, from the Ronald
Regan days up until today, I recog-
nize a market up swing even before
the papers and media have time to
write about it or even report. I am
confident in advising you that now is
the time to sell and now is the time
that buyers are buying.
Regardless of the market’s condi-
tion, please note that my clients’
homes are staged, de-cluttered,
priced appropriately, mass marketed
and prepared to be shown at full
potential. That, coupled with eager
buyers, and historically low interest
rates (approx 3.5%), a buyer can now
feel much more secure about the
economy and housing market. Jobs
are becoming more available, banks
are softening up on the loan require-
ments and the procrastinating buyer
are all a thing of the past. We are cer-
tainly on our way. With a lack of
inventory and an overabundance of
buyers now is the time to sell. Seize
the opportunity!
NEW JERSEY REAL ESTATE ON AN UP SWING
By: James Madalone
REMAX PREMIER, THE JAMES MADALONE REALTY GROUP
60
Mountain Blvd, Warren, NJ 07059 • Direct Office: 908-754-1587 • Cell: 908-963-8470
Email: jamestm6@hotmail.com • www.jamesmadalone.com
www.theconnectionsnj.com
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