Tri-County Realty Teams with Rand Realty

NANUET, NY – Better Homes and Gardens Rand Realty continues to grow throughout Northern New Jersey, following their Wayne, New Jersey, office’s acquisition of Tri-County Realty, which was located in the township and owned by Joseph Palermo, a broker/salesperson.

“I’ve had the privilege of leading my brokerage for 20 years, and I’m grateful that my dedicated team now has the chance to work with Better Homes and Gardens Rand Realty,” said Palermo.  “My agents have a strong commitment to service, which will make them a perfect match for their new colleagues.”

Palermo has been licensed since 1980 and has held several distinguished positions within past agencies.  He has been a top manager for Schlott Realtors, an area manager for Coldwell Banker, and a regional vice president and Wayne office manager for Better Homes and Gardens Murphy & Co.  He has consistently achieved status as a million-dollar producer, is a member of the New Jersey REALTORS® Distinguished Sales Club, and is a recipient of their Circle of Excellence Award.

“We’re thrilled to have the opportunity to work with Joseph and his team of agents,” said Justin Wrobel, New Jersey regional manager for Rand Realty.  “The deep roots that they have in our markets are going to open new opportunities for our offices in these regions.”

 

About Better Homes and Gardens Rand Realty

Better Homes and Gardens Rand Realty, founded in 1984, is the No. 1 real estate brokerage firm in the Greater Hudson Valley, with over 28 offices serving Westchester, Rockland, Orange, Putnam, and Dutchess Counties the Bronx in New York, as well as Bergen, Passaic, Morris, Essex, Sussex, and Hudson Counties in New Jersey. 

Better Homes and Gardens Rand Realty has over 1,000 residential real estate sales associates, as well as a commercial real estate company (Rand Commercial) and the Hudson United Group, which provides residential mortgage lending, title services, and commercial and residential insurance. 

These companies can be found online at www.RandRealty.com, www.RandCommercial.com, and www.HudsonUnited.com.  Better Homes and Gardens Rand Realty can also be found and interacted with on Facebook, Twitter, Pinterest, and Instagram.

Posted on August 8, 2018 at 12:56 pm
Vincent Abbatecola | Category: Rand Country Blog | Tagged , , , , , ,

Real Estate Market Report: 2nd Quarter 2018 – Hudson County, NJ

The Hudson County housing market surged again in the second quarter, with low levels of inventory stifling sales activity but driving a spike in pricing. Overall sales for the county were down about 3%, with both multi-family and condo sales falling sharply due to the lack of inventory available on the market. But that lack of supply, coupled with high levels of demand, is having a dramatic impact on pricing. Average prices were up almost 8% for all property types, rising over 17% for single-family homes, 18% for multi-family, and almost 3% for condos. Going forward, we expect this to continue through a robust summer and fall market, as demand for housing in Hudson remains strong.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on July 24, 2018 at 3:26 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Real Estate Market Report: 2nd Quarter 2018 – Sussex County, NJ

The Sussex market surged again in the second quarter, with sharp increases in both sales and prices. Transactions were up over 11% from last year’s second quarter, continuing a yearlong trend that brought sales up almost 14% for the rolling year. That kind of buyer demand has winnowed down the housing supply, with the months of inventory falling over 21% from last year and now getting close to the six‑month mark that signals a seller’s market. We’re certainly moving into that territory, given the spike in pricing in the quarter: rising almost 7% on average and 8% at the median. Prices are still relatively flat for the year, but the lack of inventory and high demand will likely drive both sales and prices in a strong summer and fall market.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on July 24, 2018 at 1:56 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Real Estate Market Report: 2nd Quarter 2018 – Essex County, NJ

The Essex housing market was flat for the second quarter, with mixed results in sales and pricing. Sales were up just a tick from last year, and are up about 2% for the rolling year. That said, we’re now seeing sales at levels higher than any time in the past 15 years, since the height of the last seller’s market. To get sales moving, though, we need more supply in the market, since the months of inventory has now settled at the six‑month level that usually signals a seller’s market. But reduced inventory has generally been driving some meaningful price appreciation: although pricing was mixed for the quarter, it was up almost 3% at the median for the rolling year. Going forward, we believe that stabilizing inventory will support a solid summer and fall market, with both sales and prices rising over last year.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on July 24, 2018 at 1:26 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Real Estate Market Report: 2nd Quarter 2018 – Morris County, NJ

The Morris housing market flattened out a bit in the second quarter, with sales down and prices basically flat. Quarterly sales were down for only the second time in about four years, falling over 4% and now down about 1% for the rolling year. But demand remains strong, driving prices up slightly for the quarter and between 2‑3% for the rolling year. Sales might pick up in the third quarter, since we’re starting to see inventory levels rise just a bit after severe declines for most of the past few years. Going forward, we expect that the market will remain strong, with sales and prices generally rising through the end of the year.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on July 24, 2018 at 1:00 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Real Estate Market Report: 2nd Quarter 2018 – Passaic County, NJ

The Passaic housing market surged again in the second quarter, with both sales and prices up in what is now a robust seller’s market. Falling inventory had been holding back sales in the first quarter, but we’re starting to see more homes come onto the market as sellers see prices going up. As a result, sales were up almost 3% for the quarter, and are now at a level we haven’t seen since the height of the seller’s market 15 years ago. Moreover, we’re seeing sustained appreciation in pricing, with prices rising 6% on average and 5% at the median, and now up about 5% and 7%, respectively, for the rolling year. Going forward, we expect these trends to continue, with both sales and prices rising in a robust summer and fall market.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on July 24, 2018 at 12:27 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Real Estate Market Report: 2nd Quarter 2018 – Bergen County, NJ

The Bergen housing market cruised through the second quarter, as low levels of inventory continued to stifle growth even while driving prices up. Sales were mixed: single‑family home sales were up about 3% from last year’s second quarter, but condo sales fell about 2%. For the year, sales in both houses and condos are down slightly, the result of inventory that’s fallen below the six‑month level that signals a seller’s market. But low supply and high demand is having its expected impact on pricing, with prices up for both property types for the quarter – rising about 4% at the median. Going forward, we believe that inventory is starting to stabilize, but robust demand will continue to drive both sales and prices up above last year’s levels in a strong summer and fall market.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on July 24, 2018 at 11:58 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Real Estate Market Report: 2nd Quarter 2018 – Northern New Jersey

The housing market in the Northern New Jersey suburbs of New York City continued to develop as a fully‑realized seller’s market, with low levels of housing supply shackling sales growth but generally driving price appreciation throughout the region.

The regional market continues to suffer from a lack of supply. The number of homes available has settled at levels that generally signal a seller’s market, with about six months of inventory in most of the Northern New Jersey markets. The lack of inventory has been stifling sales growth, since the market lacks “fuel for the fire” to meet the existing buyer demand, even while driving meaningful price appreciation throughout the region.

Because of the lack of inventory, sales were mostly flat. For the region, sales were up just 0.3% in the quarter, and they were mixed in the individual counties: Bergen houses up 3%, Bergen condos down 2%, Hudson down 3%, Passaic up 3%, Morris down 4%, Essex up 1%, and only Sussex bucking the trend by rising about 11%. That said, sales are now at levels we haven’t seen since the seller’s market of the mid‑2000s, and almost double in many places from the bottom of the market following the correction of 2008‑09.

But even as low inventory stifles sales growth, it drives meaningful price appreciation. Prices rose about 2% regionally, with dramatic spikes in Hudson (8%), Passaic (6%), and Sussex (7%). Those types of increases are not sustainable, but the longer‑term trends are still meaningful, with regional average prices up about 2% for the rolling year.

Inventory, however, might be stabilizing. Textbook economics tells us that limited supply, coupled with high demand, drives prices up, which is what we’ve seen in the past several years. But that same textbook also teaches us that rising prices eventually attract more sellers into the market, which fuels sales and stabilizes pricing. And that seems to be what we’re seeing now ‒ after several years of sharply declining supply, inventory either flattened out or even rose in some markets.

Going forward, we expect the seller’s market to continue. Stabilizing inventory might drive more sales growth, but we still believe that demand is strong enough to soak up that added supply and still drive meaningful price appreciation. Accordingly, with good economic conditions, low interest rates, and attractive pricing, we expect that the Northern New Jersey market will see rising sales and prices through a robust summer and fall market.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on July 24, 2018 at 11:32 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , , , , , ,

Real Estate Market Report: 1st Quarter 2018 – Hudson County, NJ

Hudson County’s lack of inventory had its expected impact, driving sales down sharply but prices up dramatically in a strong first quarter. Although overall sales for all property types were up 1.6% from the prior rolling year, they were down 9% from last year’s first quarter, dropping for the first time in over three years. They were down for all property types, falling about 7% for single‑family and multi‑family homes, and over 10% for condos, simply because we don’t have enough inventory to meet demand. But lots of buyers chasing fewer homes had its expected impact on average prices, which spiked across the board: rising over 16% for single‑family, over 21% for multi‑family, and over 11% for condos. That kind of price appreciation is not sustainable, but even the yearlong trends are pretty impressive: up 5% for single-family, 15% for multi-family, and 5% for condos. The Hudson market, bolstered by demand emanating out of Manhattan, is simply on fire, and we expect that to continue for a torrid spring.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on April 11, 2018 at 4:56 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Real Estate Market Report: 1st Quarter 2018 – Sussex County, NJ

Sales in the Sussex market continued to surge in the first quarter, rising almost 7% and marking over three straight years of increasing transactions. This demand continues to winnow down the inventory, which was down almost 22% and is now getting close to the six‑month level that usually denotes the beginning of a seller’s market. But Sussex homeowners are still waiting for some meaningful appreciation, with prices flat for the quarter and still down for the year. We continue to believe that these high levels of demand coupled with declining inventory will eventually drive some meaningful price appreciation, perhaps even as soon as this spring market.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on April 11, 2018 at 4:28 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,