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Spring Real Estate Has Sprung Steady Sales & Opportunities to Own a New Home in NJ

Thursday, March 22, 2012 / Coldwell Banker New Homes & Condominiums

PARSIPPANY, NJ – The spring real estate market has sprung and with it are exceptional opportunities to own a home throughout the state. According to David Schoner, vice president of Coldwell Banker New Homes & Condominiums, one of the nation’s largest award winning residential brokerage firms, “confidence is building in the home industry and with it, we see an increase in sales and prices.”


“All the indicators are falling into place,” notes Schoner. “While home prices are at a record low level, in the New York Metropolitan area, as compared to nationwide, properties have held their value and are showing signs of increase. According to experts, condo prices in northern New Jersey actually rose last year.”


Schoner further explains that the supply of new homes on the market in the Metro New York area is being absorbed. “We have seen steady sales at a number of communities including 50 Parmley at Summit Place, a collection of luxurious one level condominiums in the heart of downtown Summit, NJ, and Vela, another collection of stylish, multi-level townhomes with intricate details, private elevator and an individual rooftop glass enclosed solarium in Edgewater, NJ,” Schoner states.


He adds, “According to the National Association of Home Builders (NAHB), ‘there was a solid increase in housing starts and building permits in November 2011.’ We saw the same activity at The Cottages at Hamilton Farm, a 55+ gated community of luxury custom homes in the renowned Hamilton Farm Golf Club in Peapack-Gladstone, NJ. Numerous single family homes are also underway in Clifton, NJ, to accommodate the desire to live within a convenient location with an easy commute to NYC.”


Other builders have focused on condominium collections in northern NJ and along the Gold Coast in Hudson County to further provide conveniences for NYC commuters. Among these are The Lofts at Bunker Hill, a collection of spacious condominiums in an historic brick building in Paterson, NJ; Victory Lofts, loft-style condos set in an historic brick building in Bayonne, NJ; and The Montrachet, southern-inspired condo residences also in Bayonne, just a few blocks from the newly opened Hudson-Bergen Light Rail Transit System.”


Low interest rates translate into more buying power, which Schoner sees as additional fuel for a resurgence. “With refinancing tapering off, lenders are opening up and developing strategies for home purchasers. Many are also working with builders to offer FHA loans and lower down payments.”


Overall Schoner feels it’s a matter of timing. “Savvy buyers and investors understand it’s a perfect home buying storm. We have seen an increase in qualified traffic to many communities. Now is the time to make the move and purchase a new home at a value added price.”


For information on exceptional home buying opportunities across the state, visit the newly launched  Join the conversation on Facebook at Coldwell Banker New Homes & Condos. For information on the residential real estate market and trends, contact Coldwell Banker New Homes & Condominiums Vice President David Schoner at (973) 407-5460.


Coldwell Banker Residential Brokerage in New Jersey and Rockland County, New York, a leading residential real estate brokerage company, operates more than 60 offices with over 3,600 sales associates serving communities from Rockland County, N.Y. to Monmouth County, New Jersey. Coldwell Banker Residential Brokerage in New Jersey and Rockland County, N.Y. ( is part of NRT LLC, the nation’s largest residential real estate brokerage company.  NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices.

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