New Jersey was one of the hottest centers of real estate during the pre-crisis period, and the state faced severe blow during the crisis. During the post-crisis period, it saw numerous delinquent and foreclosure cases that pulled down the state from the list of leading real estate markets. But according to NJ Biz, the trailing trends are reversing in the recent years considering the falling delinquency and growing job opportunities in the state. It is also being reflected in the real estate prices, and the industry is showing a great comeback as New Jersey was always known as one of the densely populated areas.
The National Association of Realtors’ Chief Economist, Lawrence Yun confirms that the shortage of housing in the state is expected to make a housing emergency due to the widening gap between the supply and the demand. This may add situations like numerous new properties hitting the marketing considering the increasing prices of properties, especially considering the significant number of vacant houses available in the state. Though there are surging demands in many cities in the state, some cities show an excellent line of inventories in the form of thousands of new apartments. Especially, some real estate development companies with decades of quality service are expected to quench the thirst for housing needs in those cities. Check out pressofatlanticcity.com
An ideal example for this trend is Boraie Development based in New Brunswick owned by Omar Boraie. The developer is providing unique solutions to the customers in the real estate industry by working with strong financial institutions, contractors, and architects with a clear vision and greater track record of professionalism and committed service. The developer is known for offering a wide range of services in the real estate industry, including the development of properties, property management, and marketing and sales. The real estate development firm is committed to providing exceptional services based on the needs of the customers. The developer is working on bringing tenants, residents, financial partners together and make them a long-term relationship.
While coming to the credentials of Boraie Development, it is known as the real estate developer who changed the sky of New Brunswick with a clear vision. The firm was established in 1972, and since then, it is known as the highest-standard solution provider. The aggressive growth plan of the development firm gave a growth for business communities in New Brunswick and expanded the job opportunities for the city residents. With considerable success in the city, the firm recently expanded its operations to other cities of New Jersey, including Newark, Montgomery, and Milltown.