A recent publication on centraljerseyworkingmoms.com details New Jersey as one of the cities in the United States with the most attractive property market. This has been occasioned by attractive residential mortgage rates the town as recorded even as the country is slowly recovering from the housing crisis. The increase of new households, availability of employment opportunities and the rise in home prices are among the factors behind the boom of property business in New Jersey. Experts in the industry like Zillow have expressed optimism that the current trend being experienced in the property market of NJ is likely to continue and there is the need for key industry players to match the prevailing demand with supply. Also, care should be taken to avoid the skyrocketing of property prices beyond unmanageable levels.
Lawrence Yun, an expert in the real estate industry serving as Chief Economist of the National Association of Realtors, predicts that the housing demand will continue on the upward trend, which is likely to create a significant shortage that would plunge New Jersey into a serious crisis. Some homeowners are putting their houses off the shelve with the aim of selling them when prices are at the apex. This has a potential of making the shortage worse off.
The ideal location of towns surrounding New Jersey has been a key contributor to the increase of prime developments characterized with classy apartments. Most of these towns are located close to the NJ Transit station, an aspect that is much sought by many homebuyers. According to Capital Economists, the housing boom in New Jersey is expected to ease substantially in the coming days.
The boom in NJ’s property market has attracted many realtors who are working hard to supply the city and the surrounding towns with appropriate housing units that are consistent with the consumers’ needs. Omar Boraie of Boraie Development is one of the key companies behind high-rise apartments and office space in New Jersey. Based on the information available on Boraie.com website the firm offers a wide range of services that are geared towards meeting the needs of the urban real estate market. Its array of services include property development, management and marketing.
The Aspire project detailed in NJBIZ, ranks top among the most ambitious properties, which have transformed the skyline of NJ. The project was developed by Boraie Development under the leadership of Omar Boraie; a man committed to scaling NJ’s property space to great heights. The Aspire is a residential apartment located on Somerset Street in New Jersey.