The housing market remains tight despite the pandemic
Presentation by Erin Myers
Record low mortgage rates have contributed to the increase in demand for housing. Buyers are looking for properties but the inventory couldn’t keep up with demand despite the pandemic. Why is finding a great realtor key in this hot market? How much demand is there in the rental market? Why buying and selling real estate can be a really stressful process?
Erin is a professional Realtor. Her goal is to make the buying, selling, or renting process as easy as possible for her clients. "The Erin Edge", as she promises all her clients, consists of a unique blend of skills, knowledge, and commitment that makes her your ideal real estate agent. She also does lease management and is very active in the rental market.
NJ Real Estate Market
Erin shares her thoughts about the real estate market. She said the housing market right now wherever you are geographically, has been incredibly busy. It’s been a very active seller's market for a long time now coming through COVID and it still seems to be continuing. It's been tough for buyers because there are so many people jumping into the market, and a lot of new buyers trying to leverage the low-interest rates. As a result, it's been incredibly competitive to secure the housing needs of buyers. But things are starting to shift a little bit, we're seeing rates change and we're hoping that things will even out and slow down a little bit as we come into this year.
Erin mentioned that relationships are everything right now in the real estate business. Having the right professionals by your side would mean everything. She added that it’s important to have a trusted mortgage broker like Andrea and to get help from people who answer phone calls late at night, respond to texts quickly, are willing to take calls from listing agents when they are putting in offers, and have that tight-knit team around you. It's important in this market to be able to proceed with an offer with your team, knowing that everybody's there to support you and support that offer.
Rental Market Is Just As Hot And Busy
Erin does leasing management work for a developer and she noticed that the rental market is just as hot and busy as the buy and sell market right now. There are multiple applications in every apartment. They receive calls every day, multiple times a day, emails looking for availability. She manages a building and she sees it out there a lot. This trend is spanning most of Northern New Jersey.
A lot of people are showing interest in the rental market. Apartment buildings and garden apartments are going to be really high in demand. There's a lot of demand at least for people looking for single-family home rentals.
Buying and selling real estate in any market is a really stressful process. It's planning a move, finding a new place, it's selling something big. What you need to do is find a great agent and find your advocate. Somebody that's knowledgeable, somebody who knows the market and knows their local neighborhoods and can walk you through it and get you where you want to go and hopefully have a very seamless transaction. This can be a really stressful time in anybody's life when they're buying or selling real estate because it's a huge purchase, or it's a big sell. It's nice to know that they have somebody at their side who has the resources and the knowledge to walk them through that.