Should Home Sellers Lower aSKING Price During Pandemic?, Should You Paint Or Do Flooring First During Rehabs?, Real Estate Permit Extension For NJ Construction Projects

Should Home Sellers Lower Asking Price During Pandemic?

Real Estate Tip:

Replacing flooring and carpeting is dirty work. If you paint first, dirt and dust will end up on freshly painted walls. Install new carpet or flooring before you paint.

Real Estate Insight:

NJ Governor Murphy passed a state law to extend the timeline for governmental permits and approvals for real estate projects that were stalled by the pandemic.

Commercial Property Danger To Avoid, Property Value Vs. Asking Price, US Housing Price/Income Rise 1992-2005

Commercial Property Danger To Avoid

Real Estate Tip:

Never use a seller’s asking price as a gauge of market value for a property.  A property owner may request any price for his property-this may or may not be anywhere near market value.  The current market value of a residential property is based primarily on what a similar property has sold for in the last 6 months.

Real Estate Insight:

From 1992-2005, home prices went up 205% while income during that period only rose 10%