NJ Real Estate: Hot Markets & Micro-Pricing Secrets

Here's what I'm seeing on the ground in these communities. A well priced condo at Fort Lee with Riverviews is getting three to four offers. An updated Colonial in Glenrock or Ridgewood is going under contract in 10 days or less. Townhomes in Angle and Teaneck are selling quickly. When they're positioned correctly, however, and this is crucial, it's all about understanding the micro pricing in each community. A $900,000 home in Fort Lee competes differently than a 900,000 home in Richwood, even though they're the same price. That's why generic market advice doesn't work. You need someone who understands that. Edgewater the Edgewater waterfront operates differently than towns located inland, and what happens is that the different neighborhoods have distinct buyer patterns and preferences.