Can Someone Explain Why Homes Priced over $500,000 Are Not Selling In Highbridge, Medford NJ by Leander McClain, Realtor
By Leander McClain, Cecil & Harford County Realtor
I recently had someone ask a question about the Highbridge Development in Medford, NJ. The question went like this. Is there something wrong with Highbridge? I notice that the homes listed for sale are not selling? Here is the response that I shared. Even thought I am discussing a development in Medford, NJ, the same is true in many other parts of the country. One of the areas that were hit hardest by the recent housing down turn is luxury housing. Luxury housing is described as homes which require a mortgage above $400,000. These homes typically have lost the most value and have a smaller set of potential buyers. Many home buyers who would be able to afford these homes are currently unemployed or under employed. Add to that the fact that many home sellers are still under the impre...
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