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Can Home Prices Still Go Higher?

Tales of a Seasoned Broker At this time last year the average price for a home listed on the market in Teaneck, Bergenfield and New Milford was $723,000. In fact, prices for homes in this area were hovering around that mid $700k range for most of the prior year going back to at least January…

The 3,000 Year Old Loan on my Sukkah

Tales of a Seasoned Broker Many of  our country’s major business publications have spilled much ink stressing the likelihood that  higher interest rates are not simply  a passing phase. These rates appear destined to become a permanent fixture in the American real estate market.  The impact of this development will surely further an already existing…

A Home for the Holidays

Tales of a Seasoned Broker I recently heard a heartwarming story of a simple man living in Jerusalem.* Every morning after prayers he would return home to his wife to share a cup of warm “sachlav” and then promptly set out for his job at the dry cleaners in the center of town. After exchanging…

A New Year and a New Normal Emerges

Tales of a Seasoned Broker At the beginning of this year there was much speculation as to how the prior 6 months of interest rate hikes would affect the housing market and, in particular, how it would impact the coveted, traditionally strong, spring market. At that time the number of listings in our area were…

Does Your Home Need a Sniff Test?

Tales of a Seasoned Broker Our homes were made to be lived in. I’m not saying this because I believe there’s something wrong with going on a two week vacation with your family, in fact, take me with you. You just need to make sure your home is in proper form before leaving especially if…

A Return To Normalcy as the “ Would be” or “Should be” Sellers Remain Comfortably in their Homes

Tales of a Seasoned Broker Depending on your tolerance for unstructured time, plus the number of children under your direct care, these last two weeks of summer tend to elicit strong, visceral emotions from many of my clientele.  The summer camps will be saying their final goodbyes sending thousands of children back to their homes…

Is Teaneck a Beach Town?

Tales of a Seasoned Broker I have no documented proof other than my memory, but the Boro Park of my youth in the summers of the 1960’s seemed to be just another beach town. My friends and I would finish class (or not), head to Meal Mart, pick up some BBQ chicken and knishes, stop…

The Golden Handcuffs in 4 Charts

Tales of a Seasoned Broker After reading repeated articles in a few of the country’s most respected news sources reporting housing stock dropping to  all time lows, I wanted to more clearly understand the context as to  how exactly this “low inventory” phenomena was affecting our hyper local market. Before we jump into the numbers,…

The Giant Chardonnay Bottle Cooling our Homes

Tales of a Seasoned Broker The following conversation may come across as amateurish to the mechanical engineers amongst us or  to those that are more inclined towards physics and science. For me, however,  a recent home inspection with one of my clients  opened my eyes to a novel way of  comprehending one of summer’s most…

Up Up and Away!!!

Tales of a Seasoned Broker Not much of a break is expected for home buyers this summer. As we move past June and start the second week of July any hope that prices may ease somewhat couldn’t be farther from reality. Across the board strength in housing prices persists in our area with avg listing…

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