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Coldwell Banker New Homes Sees Resurging Demand for New Homes

Thursday, May 02, 2013 / Coldwell Banker New Homes

Available approved property in Bayonne, NJ
 

MADISON, NJ - With the spring real estate market in full swing, key economic factors point to a resurging demand for new homes. According to the Land Acquisition Division of Coldwell Banker New Homes, one of the nation’s largest award winning residential brokerage firms, its listing for 11 single family homes in Morris County, NJ, went into contract quickly and two additional approved properties have joined its portfolio of 11 prime locations in NJ and SC.

 

“We are seeing an incredibly active market with bidding wars beginning to take shape and foreclosures dramatically shrinking,” explains Coldwell Banker New Homes Vice President David Schoner. “One of the reasons is the inventory of new homes is at historic lows. The National Association of Home Builders (NAHB) points out the number of new homes for sale, under construction and permitted, but not yet started is 135,000 less than the historic average over the last 40 years. The National Association of Realtors (NAR) further points out that inventory for existing homes is under two million, down from four million just four years ago. This number represents only four-and-a-half months of inventory available – the lowest since 2001.”

 

Even as Goldman Sachs in its annual preview of 2013 feels there will continue to be larger gains in home prices stretching into 2014, Schoner explains the NAR saw 2012 set a record high for housing affordability in the northeast and sees 2013 ready to eclipse that number. “A major factor in the housing affordability index is the unemployment rate has steadily decreased over the past three years. As older baby boomers leave the workforce, more jobs are opening up.”

 

He adds, “As long as inflation stays in check, mortgage rates will continue to be at record lows providing excellent opportunities for buyers.”

 

Bruce Morrow, land acquisition specialist for Coldwell Banker New Homes, further adds, “The market is ripe to create strategic partnerships to bring buyers the new homes and communities they desire.”

 

Among the approved properties available through Coldwell Banker New Homes Land Acquisition Division in New Jersey and South Carolina are:

 

  • 51 unit, three-story one- and two-bedroom condominium with elevator, 23 garages and 79 parking spaces in a prime location in Bridgewater, NJ.

 

  • 12 single family homes at Hill View Estates, a bucolic subdivision in Frankford Township close to Sparta and Newton, NJ.

 

  • 10 single family home sites on almost two acres with city water and sewer, the last approved parcel to be built in Bernards Township, NJ.

 

  • 4 condominium collections in Bayonne, Jersey City and Union, NJ, to accommodate from 48 to 88 one- to three-bedroom units in multi-level buildings with underground or on-site parking.

 

  • 40 one- and two-bedroom condominiums in a three story building with garage under parking and  easy access to NYC at Parkside at Bloomfield, NJ.

 

  • 180 studio, one-, two- and three-bedroom condominium units and 18,000 square feet of commercial space in Hackettstown, NJ.

 

  • 71 single family homes at Hedgerow Estates in Pilesgrove in Salem County with easy access to the Delaware Memorial Bridge and the NJ Turnpike.

 

  • 24 attached and 57 detached single family homes with city water and sewer in northern Beaufort, South Carolina, one of the area’s most popular designation spots within easy access to Savannah.

 

“Through our professional sales and marketing services,” Morrow further explains, “we can assist any buyer in putting together and running an individualized and comprehensive sales and marketing plan. Our award winning approach and ability to utilize the expertise of our nationally acclaimed sales professionals are yet another value to these potential new home developments.”

 

All of these properties and more are available for tours by appointment. For additional information, please contact Coldwell Banker New Homes Land Acquisition Specialist Bruce Morrow on his cell at (862) 219-2911, by email at Bruce.Morrow@cbmoves.com  or visit www.cbnewhomes.com. Join the conversation on Facebook at Coldwell Banker New Homes and Condos.

 

Coldwell Banker Residential Brokerage in New Jersey and Rockland County, New York, a leading residential real estate brokerage company, operates 58 offices with more than 3,000 sales associates serving all 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.  Visit www.coldwellbankermoves.com for more information.


Published by : Pamela J. Principe-Golgolab
PNA Associates, Inc.
Public Relations . Corporate Communications . Content Management . MARCOM . Social Media Consultant
pam@pnaassociates.com
Cell: 908-625-1929

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