All Forum Posts by: John Connolly

There is a big difference between the market softening and a bubble bursting. The requirements for loans today as oppose to the 1990's is night and day. Banks would lend 110% of the value of your home!!! I think you should always be prepared for the possibility of a slowing, but the bubble scenario doesn't seem to be in place right now.

Yes, prices have softened, but being based in Union county taxes vary greatly. Right now on mls there is a house in Mountainside- 349k ask with taxes of 7,600   There is a listing in Roselle 124k with taxes 8,100  There are ways to find good deals, even in a declining market, you just need to be thorough with the research.

Yes. Remember the laws vary from state to state. In N.J. yes. On line auctions charge about a 5% premium. Having someone bid on your behalf is a reasonable alternative, and like any aspect of this business you only want to deal with reputable, established people.