What’s The Real Deal On The Real Estate Market – Part 1-2

Welcome to another Makin’ Deals Monday.

I have not one, not TWO real world updates on the real estate world (not the regurgitated hype you see on TV).

MY TRIP HOME TO NJ (And What’s Really Going On In The RE Market)

Last week Charlene and I took a spontaneous trip home to visit my parents. They had not seen the baby since she was born and missed her so much, but my Dad couldn’t get away from work.

Thank God for automation and being virtual, we picked up our stuff and basically left the same day the idea to give them a surprise visit!

Now there are some very big differences between Florida and NJ, my home town.

In case you are wondering…
YES – I did grow up going to the Jersey
NO – I do not watch the Jersey Shore
YES – I am Italian
NO – I do not have any tattoos of Italian flags

Now here’s what I found shocking about the real estate in NJ.

Down in Florida, even the very neighborhood we live which is supposedly the “most popular place around”, just about 1 of every 3 homes is either for sale, for rent or just plane old vacant.

Properties down here that are being sold the “traditional way” with realtors and such, sit on the market for 9 to 12 months, and many for much longer.

Now back to our trip to the Garden State…

My mom, yes 100% Italian, loves to cook or should I say “overcook” for her guests, especially her little boy (yes, me).

So whenever we go home we always find it necessary to take multiple good long walks a day.

As I was walking around my old neighborhood pointing out to Charlene where all the kids lived who I used to play Nerf football with (yes, Charlene was very intrigued to hear it), I noticed something shocking.

In my parents neighborhood, out of around 200-300 house we only saw 2 for sale! And maybe only 1 or 2 that showed signs of being vacant.

The NJ market is completely different than the FL market.

The news and paper headlines that we get blasted with every single day hammer us with these broad sweeping strokes about the condition of the RE market.

In reality though, markets are different from state to state.

Now hold on, I’m not saying that either NJ or FL is a better or worse place to invest.

What I am saying is as investors we need to be careful not to over generalize and buy into the big hype headlines.

Every market is different. Every market is unique.

As an investor, it’s our job to study and understand what is happening in our market. That is how you do deals, make profits and build a sustainable business.

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