Bloomfield, NJ: A Deeper Dive

If you’ve seen my picture you know that I don’t have hair. However, I used to. And, when I went to the barber, the boss often asked how the real estate market was doing. Ears would pick up and even people who had no interest at all in buying or selling a house had keen interest in “the market.”

As we all know, markets go up or down based on demand, and demand is rooted in probability; what is the market telling me with respect to the probability of achieving a successful outcome if I decide to buy or sell a house? Underlying probability is this statement: People don’t pay more for a home, or buy a home faster, unless they believe they have to. In high-demand markets people pay more and buy faster because they believe they have to. What makes this so interesting is that the metrics of demand vary by town, by price point ranges within towns and over time.

As a #wonkyrealtor, studying this stuff, and using it to from buy and sell strategies, is what I do. Can I do it for you?


Categories: All Posts, Bloomfield, Essex County, Residential

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