New Jersey home values have gone up
15.8% over the past year. 

According to Zillow, the typical value of homes in New Jersey is $461,990
as of May 2022. This value is seasonally adjusted and only includes the middle price tier of homes.
Homes for Sale
UNDER CONTRACT
661 Mount Kemble Ave
Harding, NJ

4BD/2.5 Bath
FOR SALE
1722 Kennedy Blvd
Unit 26
Union City, NJ
$309,900

1BD/1 Bath
Granite & SS appliances
Low HOA fees
UNDER CONTRACT
12 Chelsea Drive
Randolph, NJ

4BD/2.5 Bath
Contact us here for more information or to request a showing
of these and/or other properties in your desired area.
Mortgage Rates will Come Down-It's Just a Matter of Time.

This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. And, this month, the average rate for financing a home briefly rose over 7% before coming back down into the high 6% range. But we’re starting to see a hint of what mortgage interest rates could look like next year.

Inflation Is the Enemy of Long-Term Interest Rates
As long as inflation is high, we’ll see higher mortgage rates. Over the past couple of weeks...click here to read the full article.
In this issue of "Doug Talks..."
Beyond the Walls

At 2022 comes to a close, I reflect on how all the people reading this monthly email have influenced, affected, and embraced me as a person and professional. I am profoundly grateful to each and every one of you for the path that brought us together...whether you are a friend, client, co-worker, or an acquaintance.
 
So what is Beyond the Walls? This is a near and dear local non-profit that I support/volunteer. The mission statement of the organization is dedicated to making substantial long-term impact in the lives of the poor and disadvantaged addressing a variety of needs: education, food, housing, medical care, micro-enterprise, job training, and mentoring. In the last 15 years, our work has taken us to garbage dumps in Guatemala, native lands in South Dakota, and homeless & rehabilitation shelters across New Jersey.
 
A meaningful past project included working to improve the life for a family that hosts foster children at the Pine Ridge Indian Reservation in South Dakota (home to the Oglala Sioux Tribe). This family's trailer home was older and in desperate need of upgrades and a larger space for the many foster children living there. A NJ volunteer group traveled to the reservation – and with a combination of building knowledge, funding, and a group devoted to improving the quality of life for this family, was able to quickly construct a new home.
To learn more about the organization or donate, visit the website: https://www.gobtw.org/
The "Doug Talks..." section will be featured in our monthly real estate email
and will include articles and/or videos showcasing some aspect of
home improvement, construction, or design.
Real Estate Facebook Groups

There are many Facebook groups focused on particular interests and topics in real estate, homes, etc. This can be very helpful in many aspects; you can ask the group for advice, post your experience or relevant story and photos, gain insightful knowledge, or support members with encouraging comments. Below are a few groups that we find interesting, however, you can search for a particular group that matches your interest. Click the name in blue and it will bring you to that Facebook Group page.

Our Old House (purchases, homeowner renovations/transformations, interesting finds in older homes)

Real Estate Investing (helpful tips and experiences of real estate investors)

DIY Projects (All kids of DIY project ideas and tips)

Home Decor and Interior Design (decorating ideas, where to purchase items, etc)

First Time Buying Club (first time buyers experiences and advice)
The Doug Collinson Real Estate Group
wishes you and your families a Healthy and Happy New Year.
44 Whippany Rd, Suite 230, Morristown, NJ 07960
Office (973) 539-1120

Doug Collinson Cell: (973) 214-0347
Doug Collinson Email: dtcollinson@gmail.com
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