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Bergen County Home Extensions Increase As Home Sales Slide

Mon 16 Feb 2009 - 15:17

Bergen County Home Extensions Increase As Home Sales Slide
By [http://ezinearticles.com/?expert=Marta_Dreamheisen]Marta Dreamheisen

One direct offshoot of the current recession and it's resulting lag in home sales has been an increase in the number of Bergen County New Jersey homeowners engaging in home renovation projects. For many of these homeowners, more square footage is what is primarily on the minds.

Bergen County Real Estate Boom Years

They bought their home as the market surged, with the full intent of reselling by now for a substantial profit. Then as the real estate market has declined they now face the prospect of living in the home, most likely for some years to come.

Declining Home Values in a Stale Market

Equity vanished while they slept at night and they awoke morning after morning with their home investment being less in value then it was when they went to bed the night before. To sell now would incur a loss.

Bergen County Home Extensions and Remodeling Trends

For many, the only option for increasing the value of their home is by adding square footage with a home extension. Also after all if they are going to be living in the home for a while many are looking to make it a more comfortable home to live in.

Immediately Prior to the Current Recession

Bergen County New Jersey in particular was one are of the country that saw some very heavy speculation in real estate immediately prior to the onset of the current recession. It was driven by record setting increasing home value rates which left many current homeowners over leveraged in the market.

Coming Market Improvements

So for those homeowners with an eye towards re entering the market as soon as the market picks up, remodels and home extensions are the only way that they will be able to do so and still hope function in the black.

Article was written by Marta Dreamheisen. Find the latest information on [http://www.kinggeneralcontracting.com/home_extensions.html]Bergen county home extensions as well as [http://www.kinggeneralcontracting.com/residential_construction.html]Edgewater residential construction

Article Source: http://EzineArticles.com/?expert=Marta_Dreamheisen http://EzineArticles.com/?Bergen-County-Home-Extensions-Increase-As-Home-Sales-Slide&id=1972801


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