Monday September 15th 2008, a date which witnessed Lehman Brothers file chapter 7 bankruptcy (this means they are just selling everything off). Also this day had Merrill selling themselves at a fire sale price as well. None of this good at all.
Despite all this bad stuff going on right in the back yard of the Morristown NJ Real Estate market, the home buyers are still out there. I heard from 3 of them today in fact. The Morristown NJ home buyers are out there, they have watched the same news that you all watched, and they have made the decision that this is a great time to buy a home in Morristown New Jersey.
As they say, the best time to be a buyer of Stocks, Bonds, & even Real Estate is when everyone says sell, or everyone is as negative as they possibly can be. This is usually the bottom, and the best possible time to be a buyer, in this case a Morristown NJ Real Estate buyer, or a Morris County NJ Real Estate buyer.
James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
More news about Morristown and Morris Twp Real Estate and a New Luxury Townhouse Project to be built in the township.
5 responses so far ↓
1 Emily in Austin (2 comments.) // Sep 20, 2008 at 9:04 pm
I think no matter how bad the financial crisis, there will still always be people who need to buy homes. Not everybody has all their assets in the stock market or lost everything. Some people have hardly been affected by all the Wall Street news, or they are so well off that they still have plenty of money left. It’s also a great time for first-time home owners to buy; I’d be interested to see what percentage of people buying homes right now are first-timers.
2 TegoV - Albuquerque Real Estate (1 comments.) // Sep 21, 2008 at 7:32 pm
Without hindsight we will not know for sure, but everything points to this being the bottom.
3 Don Drew (2 comments.) // Sep 22, 2008 at 9:03 am
After the major financial bombs tossed out of Washington last week I am frantically letting my past clients that still live in Apts. “It’s time to get moving”… the interest rates down to 5.5 (ish) and the sellers gotta be more than ready and willing to consider any offer!
4 Collene DeAses (1 comments.) // Sep 22, 2008 at 9:53 am
I have to agree…it is a good time to buy. Sellers are a little more reasonable and willing to compromise….so if you have any buyers that are on the fence …get them motivated to act now. Our Austin, TX market has slowed a little but it is still a better market for buying and selling than most of the rest of the country.
5 Morris Twp NJ Real Estate Roundup | Summit Chatham Madison Morristown NJ Real Estate Blog, Web Savvy NJ REALTOR // Oct 13, 2008 at 9:21 pm
[…] a growing amount of information for you to call upon. There are also great market stats for the Morristown NJ real estate […]
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