How Did Housing Do in 2012?

The National Association of Realtors reported on Jan. 21, 2013 that the level of U.S. house sales reached their highest level in 5 years. In addition, it was the highest yearly increase in sales since 2004. The sale of previously owned homes had an increase of 9.25% over 2011.

Housing. What happened? What needs to be done?

There has been plenty of talk about the decline in housing lending the country into recession.  A recovery is being held back since housing remains stagnant. The housing market always has up and downs. Usually a slowing economy then hurts the housing market. This time it was opposite. A down turn in housing caused a recession a depression for many.

What really caused the down turn?  I would seem to me that over zealous politicians in Washington would be my guess.  Government mandates to put policies and programs in place to increase the rate of home ownership at an unrealistic and unhealthy pace.  Instead of focusing policies to raise the standard of living for the lower and middle class Americans, better education & work programs they instead choose to lower requirements to purchase a home.

New Brunswick Investment Properties- Student Housing

In Middlesex County NJ, the single market that has held up the best is the Investment Property Market- renting to Rutgers students in New Brunswick, NJ. 

From our recent analysis, prices are at or near a peak! These properties are selling as soon as they hit the market!  At the beginning of the market downturn in 2006, the Rutgers housing sector of the real estate market took a bit of a hit.  Since then, property values for these types of investments have steadily risen.
The main draw is a steady, reliable income stream created by ever increasing demand for off-campus housing in the areas nearest to College Avenue in New Brunswick. 

The Rush to Rent in Middlesex County NJ

This year has been the year of the rental.  As our total sales volume (unit sold) has increased by about 20% the number of rentals we have done year to date is up 100% from 2011. 

In the past because, agents were so busy handling buyers, most real estate agents did not what to invest too much time with customers looking to rent.  Our office has activity marketed to the rental market for the first time this year and the results show in our rental business.