Scott SelleckBroker / Sales Associate / Transition Advisor, The Selleck Group, KW City Views Realty · Scott Selleck | Trusted Bergen County Realtor | Keller Williams City Views Realty, Fort Lee NJ

Real Estate Insights: Navigating Bergen & Hudson County Market #shorts

28 Oct 2025 · 1 min

Watch on YouTube

0:54

Scott Selleck breaks down Bergen and Hudson County real estate. Mortgage rates have dropped to the mid-6.5% range and inventory is up 15-20%, but waterfront communities face a serious risk if the National Flood Insurance Program lapses, which could cut off FHA and VA loans for first-time buyers.

Fire. Confidence is shaken right now. So pricing matters more than ever. Why this really matters locally is because Bergen and Hudson county are uniquely affected. Waterfront communities require flood insurance. NFIP lapses hit us hard. The National Flood Insurance Program. Thousands of federal workers live in these communities. We're in a high cost market. It's an expensive area, which means buyers need every financing advantage possible. First time buyers and young professionals, they need a maximum amount of flexibility. Losing FHA and VA access eliminates these opportunities for them. But here's the good news. Mortgage rates have eased. They're into the mid 6.5%. Inventory is up 15 to 20%. And the fundamentals of this market actually are solid. It's more of a balanced market.