With some return to normalcy in the real estate markets we are seeing a return to bidding wars in some central and northern NJ markets. Typically, this effect is seen in communities with relatively tight supply and in those with…

As a New Jersey appraiser, I read an article about the effects of changing mortgage rates on housing market demand in the New York Times. One of its contentions was that even a small change in interest rates has a…

Ran some data for single family home prices in the Gregory section of West Orange (the area around Gregory Avenue). Unsurprisingly, the market is performing well.   This seems to suggest we are experiencing property value increase rates of about…

According to MLS, property flipping appears to be alive and well in West Orange NJ. Below is a table with raw data on properties which sold and resold less than 1 year later in a section of West Orange. Some…

NJ Home Appraisal keeps its finger on the pulse of the local NJ housing market. Today we did an analysis of the Clifton, NJ housing market. The NJ housing market is seasonal. That means that the number of homes sold…