Remember that house in Rumson we told you about earlier this month, the one for which the asking price had been slashed from $940,000 to $699,000 over the course of a year?
‘Little Silvered,’ author of The Jersey Shore Real Estate Bubble blog and source of our report, says that the house is now for rent as well as for sale. He’s been monitoring the house for the past year, and thinks the addition of this one and others to the for-rent rolls “is a clear indication how slow the real estate market currently is.”
Elsewhere, though, Little Silvered (who keeps his true identity a secret) says he believes asking prices in this region are down about 10 percent from the peak, which is a far cry from the 25-percent haircut the owners of the Rumson house in question have endured.
Any brokers, agents or sellers out there want to weigh in on Little Silvered’s take on the market?
