Will We See Bidding Wars for Homes Again?

The front page of today’s Asbury Park Press has the headline, “SIGNS OF LIFE? Though far from its heights in the last decade, the long-dormant housing market is stirring”.

It talks about a bidding war for a house in Wall, and goes on to quote real estate consultant Jeffrey Otteau as saying, “The bottom line here is there is a recovery taking place”. If you’ve been following my real estate posts, you know about the 4 key real estate market indicators: sales, inventory, absorption rate and median sales price. You also know what those numbers are for each of our local towns so you can judge for yourself the strength of the housing recovery town-by-town.

The APP article goes on to quote Diane Turton, broker and owner of Diane Turton, Realtors, as saying, “There isn’t a lot of picking. You definitely have a good influx of buyers. They are ready, willing and able to buy”.

If you want to read the rest of the article, go out and buy a copy of today’s newspaper or look at it online at: http://www.app.com/article/20121004/NJBIZ/310040044/Bidding-wars-rebounding-prices-signal-Jersey-Shore-real-estate-market-coming-back?odyssey=tab|topnews|text|Frontpage&gcheck=1&nclick_check=1. By the way, on the left side of the large photo above the APP headline there’s a green and blue “Buy” sign. I just happen to have a few signs just like that one, and if you’d like me to put one in front of your home I’d be more than happy to. Lol.

Len

Leonard “Len” Dunikoski, SRES

REALTOR® Associate

Diane Turton Realtors – Rumson Office

8 West River Road

Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com