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Overpricing a property reduces its selling price-it inevitably ends with price cutting & a weak negotiating position. The longer a property stays on the market, the less it will sell for. The key to selling a property for top dollar is pricing it correctly in the 1st 30-45 days it's on the market.
Home prices in NJ increased 12% in 2020 and are expected to increase at about the same rate in 2021
Know when to walk away in a negotiation to purchase a property. When you walk away, a lot of times the other party will come back to you later on--and if and when they do, you’ll have an even stronger negotiating position to work from.
Recent revisions to the 2020 Census revealed that the population in the Northeast grew much more in the past decade than previous estimates had indicated--a potential boon for multi-family investors.
Before you make offers to buy property, look at as many similar properties in that area as possible so you’ll have a solid frame of reference to make a reasonable bid.
Nonperforming commercial real estate debt on the biggest banks’ balance sheets doubled last year.
