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How to Win a Bidding War Here are some tips on navigating today’s supercharged real estate market, where inventory is low and other buyers can be cutthroat. Credit.The Heads of State April 23, 2021 Bidding wars are becoming more commonplace in many suburban markets this spring as home buyers face stiffer competition for a tight supply of inventory. “We’re seeing houses with 20 or 30 offers on it,” said Andy Sachs, an agent for Keller Williams in Newtown, Conn., “and prices going for $50,000 to $100,000, or more, over asking.” Buyers can easily get caught up in the multiple-offer frenzy. “They see a house and start imagining their lives there, with all their furnishings and their kids,” said Dana Schwern, who works at Compass in Montclair, N.J. “It can get very emotional.” ....
Essex Fells, N.J.: âItâs Very Norman Rockwellâ With its highly regarded schools, grand old homes and close-knit community, the borough is one of Essex Countyâs most desirable areas. Feb. 17, 2021 After spending much of her adult life working abroad, then moving to Brooklyn and starting a family, Christina PioCosta-Lahue discovered she could go home again. Last summer, she moved back to Essex Fells, the tiny northern New Jersey suburb where she grew up. Ms. PioCosta-Lahue, 42, and her husband, Emmett Williams, 58, who have a toddler son and another child on the way, traded a small apartment in the brownstone they own in Bedford-Stuyvesant for a stucco colonial on 1.26 acres, paying $1.087 million. They had also searched in Montclair, about five miles east, but found comparable houses more expensive and on smaller lots. ....