realtor: Ridgewood 2010: The Year In Pictures - 05/27/10 03:42 PM
The Rotary Club of Ridgewood has organized a photo contest for and about the Village. Here are the details from the poster: A stunning photo doesn’t care who took it. No matter how much experience you have or how sophisticated your camera, you’re invited to enter the Ridgewood Photo Contest. The best photos in eleven different categories will be published in “Ridgewood 2010: The Year In Pictures,” a commemorative book representing the beauty, spirit and tradition of Ridgewood and the people who live here. Winners will receive a free copy and cash prizes. The cost is $5 per entry with proceeds … (1 comments)

realtor: Steady As She Goes - 01/08/10 01:21 PM
The Ridgewood area real estate market has been holding its own over the last year. As you can see from the charts below, the median price hasn't changed much, except for the usual price bump during the spring market. And the year ended with an inventory level lower than where it started. In general, buyers and real estate agents are optimistic about the spring market. I do have one area of concern however - rising interest rates. The National Association of Realtors is forecasting that the 30-year fixed-rate mortgage will rise gradually to 5.8% by the end of next year.
- Michael … (0 comments)

realtor: How many homes are on the market in Bergen County? - 10/22/09 05:53 PM
A comment I frequently hear is there are lots of homes for sale in the area. Local homeowners sensitive to market conditions tend to think there are more "For Sale" signs in the neighborhood than there used to be. In reality, the inventory of homes on the market in Bergen County is at its lowest level since 2005.
 

 
source: NJMLS. Information deemed reliable but not guaranteed.
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realtor: Local Market Trends Upward - 06/14/09 12:38 PM
May turned out to be an even better month than April, which was 10% behind April of last year in sales activity. As you can see below, May was almost exactly on par with last year in terms of the number of homes going under contract.
The coming months continue to be difficult to predict, as there are conflicting trends. Mortgage rates have climbed considerably, yet the inventory of homes on the market is lower than it was last year at this time.

 
Northwest Bergen County single family homes. Source: NJMLS. Information deemed reliable but not guaranteed.
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realtor: Interest Rates Improving - 12/06/08 09:52 AM
The big news over the last three weeks has been declining mortgage rates. On Oct 30, Bankrate's overnight average on a 30 year fixed loan was 6.5%. Today it's 5.6% and still heading down. And contrary to popular belief, mortgage money is not hard to come by in Bergen County. Local banks including Hudson City and Valley National have funds available.Okay, okay, but the real reason you read this newsletter is to get statistics about the local real estate market. How bad is it, you want to know. Over the last 30 days, the number of residential homes going under contract … (0 comments)

realtor: Posh Glen Rock Ranch - 10/30/08 03:40 PM
Come explore this posh Glen Rock retreat. A complete renovation has turned this residence into a three bedroom, three bathroom palace. The front hall leads to a columned living room with fireplace and tray ceiling. Wainscoting and another tray ceiling adorn the dining room. The kitchen is finished with high end materials and appliances. Each of the three full bathrooms has a luxurious vanity and tile work. Downstairs is a sizable family/recreation room with a kitchenette, full bath and private entrance, offering another level of refined living space. http://buyinginbergen.com/gr.html
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realtor: September Hot, October Not - 10/30/08 01:30 PM
This week we take a look at how deeply the real estate market has been affected by the economic downturn. Back in early September, before the AIG rescue and the bank mergers, the real estate market was healthy. The number of homes under contract in northwest Bergen was running slightly ahead of last year. Then the bailout plan was introduced around September 19th, and we still managed to finish out the month only 10% behind last September. But in October*, the number of homes under contract has fallen 31%.Another measure I use to gauge the market is how many online visitors … (0 comments)

realtor: The Fall Market Decelerates - 10/13/08 08:10 AM
While there certainly has been a slowing of the real estate market over the last couple of weeks, it certainly has not dried up. The number of homes going into attorney review from October 1-9 in northwest Bergen is down 23% from last year. In the Pascack Valley, the decrease in activity was only 15%.Meanwhile the median sales price in Bergen County, which reflects contracts written approximately two months back, showed a 10.7% drop in September compared with sales in September of 2007.
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realtor: Glen Rock Passes McMansion Ordinance - 05/16/08 07:52 AM
In early May, Glen Rock Borough Council approved an ordinance governing the size of homes that can be built in the borough. Details can be found on the home page of Glen Rock's official website, http://GlenRockNJ.net. The new standards were adopted in an effort to keep properties from being overbuilt. The borough's planning board had been working on the resolution for the past two and a half years. Some of the new guidelines include:
- The total ground floor area of all structures shall not exceed 25% of the total area of the lot measured within 140 feet of the front … (0 comments)

realtor: Bergen Home Prices Finally Show Decline - 05/09/08 12:08 PM
Average sold home prices in Bergen were down 5.4% from April of last year, while median sold prices were down 10.6%. In March, median prices were down only 1.0% from the previous year. On a positive note, however, homes under contract closed the month with marked improvement. March activity was down 33% from the previous year, while April was down only 6.1%. Sellers have recognized that local prices have come down, and buyers are taking advantage.
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realtor: Homes for Sale: Does Bergen Have An Oversupply? - 04/03/08 10:33 AM
This week we take a look at the number of homes on the market and whether we have an oversupply situation. Below is a sampling of towns on the west side of Bergen County representing a wide range of home prices. Keep in mind that a balanced market is a four to six month supply. While the market has changed significantly over the last six months, inventory levels have not. At the low end of the market, with the exception of the very low end where foreclosures are high, the market remains close to being balanced. But at the high end, … (0 comments)

realtor: Bergen Home Sales Down, But Prices Holding - 03/27/08 01:09 PM
- Michael Shetler * source: NJMLS and Realtor.org. Info deemed reliable but not guaranteed. Includes single family homes, townhomes, co-ops and condos.


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Michael Shetler (Keller Williams Village Square Realty)

Michael Shetler

Glen Rock, NJ

More about me…

Keller Williams Village Square Realty

Address: 257 E Ridgewood Ave, Ridgewood, NJ, 07450

Office: (201) 445-4300

Mobile: (201) 421-0506

Email Me

Observations and analytics on the real estate market in Bergen County, northern New Jersey. Special focus on Ridgewood and northwest Bergen. All facts and figures based on NJMLS. Info deemed reliable but not guaranteed.


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