Real Estate in New Jersey
Real Estate in New Jersey
is a very valuable commodity.
Whether you are referring to North NJ, Central NJ or South
NJ; real estate in New Jersey has a tremendous amount of
value. This is if you are interested
in selling or buying. NJ Homes
for sale are a good long term buy.
Homes for sale in NJ
are good to have.
This is from a recent article from
The Courier Post
Moderate growth seen for '07
Friday, December 1, 2006
By JEANNE RIDGWAY
Courier-Post Staff
TAVISTOCK
After five years of favorable growth, a more moderate economic climate
will prevail during 2007 in New
Jersey and the nation, said Stuart G. Hoffman,
senior vice president and chief economist for PNC Financial Services Group.
On Thursday, Hoffman offered his forecast during the fourth annual
President's Luncheon at Tavistock Country Club, touching on global,
national, state and regional trends.
The event, sponsored by PNC's wealth management group, was attended by
150 bank customers, guests and employees.
Speed bumps thrown in the way of better economic vigor in 2007 include
higher interest rates, steeper energy prices, a decline in housing activity
and lower motor vehicle production, Hoffman said.
The coming year will be characterized by slower job creation and "a
pause" before momentum builds setting the stage for a more robust 2008
and 2009, the economist predicted.
"The economy has made a transition this year," said Hoffman,
noting that this change follows a five-year span of healthy growth.
Nationally, Hoffman predicts 2007 will bring a 2.4 to 2.8 percent growth
rate in the GDP, which is below a potential of 3.2 percent.
But the new year "won't be a slip and slide into a recession because
of five positive cushions," he said.
The economy will be buffered from more painful consequences by favorable
expectations, including:
Good employment rates, with consumers spending, but spending cautiously.
Increased private and governmental outlays for nonresidential buildings
and other capital projects.
Strong business investment in equipment and software enhancing the
productivity of workers.
Economic expansion worldwide leading to the purchase of U.S.
products overseas. Hoffman specifically mentioned the sale of Boeing,
Coca-Cola and Caterpillar products.
A recent decline in energy prices and long-term interest rates.
Looking back at the past 12 months, the stock market has fared well,
doing "every bit of what we thought that it would," Hoffman said.
Looking ahead, PNC thinks large, international and growth companies will
perform the best.
Residential real estate will remain in decline, with prices adjusting
after a number of years of double-digit appreciation.
The holiday shopping season will end on a "good but not a
great" note for merchants with higher-end goods selling better than
lower-end goods.
Next year, Hoffman predicts the Federal Reserve will make a series of
interest rate cuts to curb core inflation. The first will take place
between March and June, he predicts.
Tip #23
Home Buying Tip, Big Ticket Items:
Before you buy a home
you should avoid buying any big ticket items. When this is found out during the
credit process or reporting it can make mortgage banks nervous.
Even if you will be able to get a loan, you might not be able to get
the best available interest rate.
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Tip #24
Home Selling Tip, Listing Right:
A common mistake when people list their house (especially in a
buyers’ market) is list the house at a high price that they
don’t anticipate to sell it at.
They figure that if they get it then GREAT but if not they can
always lower the price.
This is not a good practice because what mostly happens is it will
stay on the market for a while and make potential home buyers nervous because
it’s been on the market so long.
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