As a Mahwah resident and local real estate expert, I want to keep you updated on what is happening in 2012 in Real Estate.
The real estate market in Bergen County and Mahwah, NJ has been gaining momentum in 2012. It all happened in the late winter as the warmer weather enabled buyers to start their spring home search early.
We have obviously had a downturn since 2006. However, this is the first time Realtors are seeing a change. We are listing homes and getting involved in bidding wars. Open houses are busy with buyers coming back to the same home for a second or third visit. Lenders are busier with home purchases and not only refinances. Inventory is down and buyer demand is up in Mahwah and throughout Bergen County.
Now is a perfect time to buy a home in Mahwah because rates are at historic lows and prices are planning to rise in 2013. In essence, it may cost more to own a home next year.
If you are planning to sell your Mahwah home, now is a great time because inventory is low, buyers are out making offers, and homes are going under contract within days of being listed.
Mahwah residents are asking me constantly how the market is in our area and I can honestly say with confidence, it's GREAT.
Happy and Healthy Spring!