Jonathan and Allison's Story: Growing Family Counts on Inherent Value of Bergen County Homes
After selling their home in Tenafly in August 2007, Jonathan, his wife, Allison, and their two children relocated to Amsterdam. It wasn't until they discovered they were expecting their third child that they decided to travel back to their home state to raise their new baby, closing on a new home in Northern New Jersey this past July. Recently they shared with us their experience with buying and selling in Bergen County within a one year span.
Before deciding to sell their home in Tenafly, the couple was somewhat skeptical of being able to draw in a good offer. "Everyone is aware that the housing market has pulled back from its highs and that there is a lot of uncertainty in the market place," said Jonathan. "Our concerns were not just that we would receive a good offer, but also that the buyer would qualify for a mortgage."
They discussed setting a realistic price with their REALTOR® that would attract buyers and also help them obtain the highest value. With current speculation about the housing market in their minds, the couple looked to their REALTOR® for guidance to help them achieve their goals. "I think the media has focused on the extremes in the housing markets, areas that experienced hyper-growth in housing prices over the past decade and are now experiencing the largest declines," said Jonathan. "Our REALTOR® gave us a good feel for the market and helped us negotiate a fair price on the house," he said.
When the couple decided to buy a home several months later in the same area, they considered their family's individual needs. After having bought their first home as a young couple when their life together was just beginning, they entered the market looking for a good investment. Now with two kids and a baby on the way, they wanted a house with plenty of growing room and one they could live in for a long period of time. "In both cases we selected the best neighborhood, with the best school systems that we could afford," said Jonathan.
With the help of a REALTOR®, the couple found a home to fit their growing family in Closter. "We found the Northern New Jersey real estate market to be more mature, meaning housing prices have not had the same rise and fall as other places. There is still an intrinsic value for homes that are located so close to New York City," said Jonathan.
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