Below is a graph showing what the average sales price for a 3 bedroom 1 and 1/2 bath house from 1995 to 2009 in Morris Plains NJ.  In the last 15 years these homes have gained on average about 4 percent a year in equity with 2006 being the height of the market.  One thing to note is that the downward trend on home value has leveled off.   If the the historical rate of 4 percent a year returns to the market these homes will begin to increase in value.  The one thing to keep in mind is that in order to get back to the values we where at in 2005 and 2006 we will need 9 years of steady growth.

Manufactureing continues to pick up and unemployment has begun to level off.  These are all good things.

If you are interested in what your home is worth today in Morris Plains NJ or any other town in Morris County NJ Send me and e mail or give me a call and i can give you a customized and detailed report on the value.  www.Zillow.com and www.Trulia.com can not  give you the information you want.  Remember Good Information is Power, Power is Wealth. Bad information is Stupid.

Federal Reserve Chairman Ben Bernanke said Wednesday he doesn’t expect the central bank to sell its huge trove of mortgage securities anytime soon, easing fears the move would raise borrowing costs for home buyers.  The fed is not expected to raise interest rates until next year.

If you have any questions concerning the graph please give me a call or e mail me.

Thanks for reading Morris Plains Homes Here is the quote:  “There has never yet been a man in our history who led a life of ease whose name is worth remembering.“  Theodore Roosevelt