Real Estate is getting hot as Spring arrives.
I am seeing increased activity in Real Estate transactions this month. The interest rates are still low and people are now ready to make their moves.
New Jersey has taken a very long time to recover from the 2008 Real Estate recession. This is largely due to the fact that the New Jersey Judicial Foreclosure process takes much longer than it does in other states. There is still a large back log of properties that are underwater and in different stages of the Foreclosure processes. This has dramatically slowed down New Jersey’s Real Estate recovery.
Each Spring, however, I see activity picking up and this month is an example of that.