The New Jersey Real Estate Misconception


DinnerThe other night I was out to dinner with some relatives that are visiting from another country. They flew in for our annual “Family Reunion Cruise.” With about 30 people, you can just imagine, it’s the yearly vacation you need a vacation from.

As I was sitting at the dinner table I noticed a man staring in my direction. I glanced over and thought maybe we knew each other. His continuing glances then led my EGO to believe….Well, you know, but to clarify matters, NO, he was not staring for that reason.

Staring

I am often heard saying that my family is very cultural. This time was no exception. What I realized after carefully examining the pity in his eyes is that he was under the misconception that I was getting yelled at. Why would he think that you may ask?

Culturally there are traits that are common to a particular group. My family’s are that they are very loud individuals. All this poor man could think was that I was getting yelled at by a bunch of older people speaking in a foreign language.

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I came to the conclusion that misconceptions can translate to many areas including the real estate industry.

With home buyers making extremely low offers based upon the medias overall assessment of the current real estate market, buyers are not realizing that real estate is a local industry. They are under the misconception that they can offer 50 to 100 thousand off the asking price and get an accepted offer.

Monmouth County’s real estate has seen an increase in sales and is continuing to pick up. Homes that are priced correctly are actually seeing multiple offers come in.

Do not be drawn into the hysteria that the media portrays. Speak with a real estate professional that can help guide you locally, this way there will be no misconceptions.

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