Emil Ratti
Sales Associate

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 Certified New Home Specialist

Residential Construction Certified

Senior Real Estate Specialist


Coldwell Banker
Realty

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Ramapo Ridge, Mahwah NJ

 
November Special Days 

November 1 World Vegan Day
November 3 Housewife's Day
November 11 Veteran's Day
November 13 Sadie Hawkins Day
November 20 Universal Children's Day
November 25 Thanksgiving
November 26 Black Friday (Shopping)


September Housing Stats

Click To view local Monthly Housing Stats 2013 - 2021
 

Market Absorption Rate 
See each county below. 
Seller's Market

Normal Market

Buyer's Market

1

 2 3 4 5 6 7 8 9 10
An  Absorption Rate  of 7 or higher is a Buyer's Market
Bergen County
Absorption Rate =   2.3  
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:		 1101
922
$621,989
40
Essex County
Absorption Rate =    3.3  
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:		 634
529
$621,586
30
Passaic County
Absorption Rate =   3.23 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:		 384
354
$477,406
34
Morris County
Absorption Rate =  2.94 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:		 723
618
$589,151
29
Sussex County
Absorption Rate =   3.37 
Seller's Market
New Listings:
Sold Listings:
Average Sale Price:
Average Days On Market:		 344
297
$368,652
32
New Jersey
Real Estate

Public State and County Reports

Zig Ziglar Quotes

“Remember that failure is an event, not a person.”
 
On Dec. 1, new requirements for the Private Well Testing Act will take effect. The Department of Environmental Protection will require testing under the PWTA to include three new chemicals, PFOA, PFOS, and PFNA.
 
New Jersey Realtors® did raise concerns with the DEP prior to the adoption of this new rule concerning the time and additional costs that would be added to real estate transactions and recommended alternative measures to address these chemicals without adding a new requirement at the time-of-sale.
 
While the new requirement for PFOA, PFOS, and PFNA does not take effect until Dec. 1, New Jersey Realtors® reached out to the DEP which indicated that if testing under the PWTA is occurring prior to Dec. 1 for a closing which may occur after that date, the testing should also include PFOA, PFOS, and PFNA.
 


  LEARN MORE HERE. 
 
In a statement last week, Moody's Investor Service revised New Jersey's economic outlook from stable to positive. According to Moody, the state is in a better-than-expected financial position following the COVID-19 pandemic.
 
The state's rating was upgraded to positive following actions and plans set in place with the Fiscal Year 2022 budget, which went into effect July 1. These include bonds issued from the Garden State Preservation Trust, the state's appropriation debt, the County College Enhancement Program Chapter 12, the NJ Transportations Trust Funds Authority's Federal Highway Reimbursement Revenue Notes, and more.
 
Gov. Murphy applauded Moody's decision in a statement released last week—click here to read the governor's statement.
 

The biggest risk to the housing market right now
The biggest risk to the housing market right now

Now that we are heading toward the end of 2021, what can we say about the U.S. housing market this year? No question it has been another year of ups and downs with seemingly conflicting data, which could indicate a coming boom or a bust depending on how you decide to parse it.

HOUSING WIRE

October. 2021
This Fall Gives Your Buyers Better Odds With bidding wars at their lowest level of the year and listings at their highest, buyers are in a stronger position. Watch this metric to know when it’s the right time to make an offer.

This Fall Gives Your Buyers Better Odds

With bidding wars at their lowest level of the year and listings at their highest, buyers are in a stronger position. Watch this metric to know when it’s the right time to make an offer.

October, 2021
Mortgage Rates Unexpectedly Dip Below 3%
 

Economic uncertainty weighs down interest rates, but NAR still predicts they’ll reach 3.5% next year.

October 2021

The month of October offers better real estate deals. 

October 2021

When will mortgage rates get over 4%?
When will mortgage rates get over 4%?

In several previous articles I have opined that an increase in mortgage rates may be our only hope for slowing the escalation of home prices that we’ve been experiencing for the past year.

HOUSING WIRE
October, 2021

  

Two Reasons Why Waiting a Year To Buy Could Cost You
Two Reasons Why Waiting a Year To Buy Could Cost You

If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home.

KEEPING CURRENT MATTERS

October 2021
What will happen to bidding wars, home prices, and buyer demand as temperatures cool? Heading into the fall season, economists are optimistic about the market’s direction.

Home Sales Pace to Carry Through Fall

What will happen to bidding wars, home prices, and buyer demand as temperatures cool? Heading into the fall season, economists are optimistic about the market’s direction.

Sept 3, 2021

Helpful Real Estate Articles

Buying Your New Home

Selling Your Home

Home Maintenance

Condo/Townhome Tips

Seniors 55+

Smart Homes and Features

Do Not Pay Too Much For Your Home

Make Yourself Scarce

Moving and Relocation

NJ School Reports

Your First Home

 

Average Home Sales Price
 
Below are my figures for northern New Jersey:

September

 2015 2021
Bergen County $483,000 $622,000
Essex County  $493,000 $622,000
Morris County $472,000 $589,000
Passaic County $316,000 $477,000
Sussex County $246,000 $369,000

 

 

*Wire Fraud is Real*.  Before wiring any money, call the intended recipient at a number you know is valid to confirm the instructions.

·  Always personally verify wire instructions.

·  Use only phone numbers that have called before or can otherwise verify are legitimate.

·  Be very suspicious of emails and phone calls with purportedly updated, revised or corrected wiring instructions. It is extremely rare that a lawyer or title agent will change wire instructions during the course of a transaction.


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 Emil Ratti
Sales Associate
Certified New Home Specialist
Residential Construction Certified
Senior Real Estate Specialist

www.BCNJRE.com
www.NJCondoTownHomes.com		 Coldwell Banker | LinkedIn
Coldwell Banker
Realty

NJCondoTownhomes.com
 Luxury Homes NJ Multiple Listing Service Free Market Analysis   Helpful Buying/Selling Tips Mortgage Calculator

 

 REALTOR® -- A Registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS ® and subscribes to its strict Code of Ethics. Inquiries regarding the Code of Ethics should be directed to the board in which a REALTOR® holds membership.