The following article will detailed my predictions for the Union NJ real estate market and answer some of the common questions buyers and sellers have when it comes to buying or selling in Union, NJ.

The problem with forecasting the real estate market in any town or city in NJ is that we rely on the past to show us what the future may hold. Yes, I know real estate is all about cycles, but the most recent past has had several government subsidies, programs or incentives to prevent the housing bubble from popping.

Click here for the 5 Year Market Overview for Union NJ

The reality is that no one person can tell you with any certainty what the market will be like in the near future. No one person can tell you that the real estate market will be better or worse (at least no one smart enough to take on such a heavy burden).

Although, a number of websites and so called real estate experts or gurus will make “predictions” about the future of the real estate market. Having been a active real estate sales agent in Union, NJ and other local markets for the past 5 years, I can identify same trends in the real estate market place and specifically the Union NJ market place.

First, I can identify small trends in the real estate market place when looking at the following barometers:

• Average List Price
• Average Sales Price
• Days on the Market
• Highest and Lowest Reported Sale
• The number of reported sales for any one given township

Coupled the above barometers with what I know about the lifestyle appeal of Union, I can honestly say that the Union market will see small pockets of a seller’s market over the next few months.

Union NJ is for many New Jersey residents a move up type of town. Many urbanites from Newark, NJ and surrounding areas, look to Union for its suburban lifestyle and welcome respite from city living.

Union, NJ also attracts many New York City commuters for Union is a town with a train station i.e. and easy NYC commute. Union is also home to Kean University and several nearby BIG name pharmaceutical companies, which helps spurs the Union economy during the week days.

Union Township offers a small, but sociable main street otherwise known as Stuyvesant Ave. If you drive on Stuyvesant Ave now, today or tomorrow, you might see a number of commercial rentals signs for several of the commerical lots are vacant and for rent. Many of the small commerical business owners did not survive the initial changes in the market place, but at the same time, a number of new establishments off of the main street like The Patio, 141 South and it’s newest addition, The Red Cadillac, are thriving.

Among the new additions are some of the old favorites: Glendale’s Pizzeria, Burnet BBQ, Van Gogh’s Ear, Mood Lounge, and a slew of others.

In other words, Union continues to attract new small business owners and some large retailers like Home Depot. The Commerical residents help to keep the local real estate taxes at low or at least at bay for Union residents. It helps that Union is also home to America’s largest outdoor strip mall otherwise known as Route 22.

Union offers easy access to the Garden State Parkway, the NJ Turnpike, Route 22, 78 East and West . . .all of which are accessible within a 5 minute drive from any street in Union.

Location, Location, Location at $250,000. Union NJ is a First Time Home Buyer Type of Town (5 year overview chart).

As an agent, what I have noticed is that homes that are close to the $250,000 price point sell with 45-90 days or less, especially if the home offers 3 bedrooms, and 1.5 baths (detached). Many home buyers hope to live within the Washington, Battle Hill, Connecticut Farms or Livingston school districts.

Union has one central Public High School with over 2500 students. Many parents opt for Roselle Catholic, a nearby private school, as an alternative to Union High School although Union High School provides a quality education out performing other NJ school high school districts by 15% or more.

Many real estate skeptics were concerned that given a market without federal buying incentives i.e. the repeat and first time home buyer tax credit(s), we would notice a slow down in the Union market place among many other NJ towns. In 2011, with the Union market normalizing or stablizining, the homes with a a price tag of $250,000 or there abouts will have an easier time exchanging hands.

In conclusion, the market in Union will remain a normal market with anywhere from 6-7 months of real estate inventory although certain price point pockets will experience faster sales at 94 to 97% listing/sales price.

Property Values in Union may see some fluctuation over the next few months, but as long as interests rates ramain relatively “low” and banks start or continue to cooperate with homeowners or agents to unload pre-foreclosed homes and REOs (bank owned properties), the Union market will see some improvements or slow appreciation within the next few years.

Angie Perez is a NJ Circle of Excellence award winning real estate agent for Weichert, Realtors in Edison. She sells anywhere from 12-25 houses per year on a consistent basis since 2005. Ms. Perez is primarily a buyer's agent on 60% of her real estate sales where she represents rental income investors, first time home buyers & trade up home buyers of 1-4 family homes within specific towns encompassing 4 NJ counties: Union, Essex, Middlesex and Somerset County. Many of Ms. Perez's clients appreciate her ability to negotiate favorable real estate deals for them. Many of her clients commented that her research abilities, her honesty, her knowledge of local market trends and her proficiency to manage multiple real estate transactions from start to close are some of the reasons why she was hired as their agent of choice. Please call, text or email Angie Perez to ask if she lists or sell in your town. If she can not help you, Ms. Perez would be more than happy to help or refer you to someone who can. Cell: 973-715-6210 email: angie @ njretoday .com

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