Originally reported on Realty Today
The real estate industry in New Jersey has been under some pressure over the past few years. However, this was a common trend all over the country as the real estate industry faced a slumber that almost crippled it. The Good news is that the industry is recovering well and this has attracted potential investors from neighboring New York City.
One of the major drawbacks for the real estate industry in New Jersey is the ridiculously high taxes that discourage potential investors from investing in the very promising industry. Another drawback to the recovery of the real estate industry in New Jersey is the state’s population which is way below the national average making the market unattractive for potential investors.
The good news is that the real estate industry in New Jersey has been going through some tremendous improvements that have seen it emerge as a potentially viable real estate heaven. This is because of the prevailing low interest rates on mortgages and the implication of technology in the advertisement of houses in New Jersey. Furthermore, this turn of events that has seen the rebirth of the New Jersey Real Estate industry was foreseen by Omar Boraie. Through his company, Boraie Development, he has been putting up high-end commercial and residential buildings in New Brunswick for the past four decades.
The rise of the real estate industry in New Jersey has been highly influenced by this rapid development in New Brunswick. Omar Boraie’s vision, which came in the early 70s, was doubted by many since people did not believe that New Brunswick could be transformed to what it is today. Boraie Development LLC has been in the fore front in the construction of top-flight residential building which have directly influenced the blooming f the real estate industry in New Jersey.
As much as the reduction in mortgage rates and down payments together with the vigorous advertisements on social networks have contributed toward the revival of real estate in New Jersey, the emergence of New Brunswick has had the biggest impact. Therefore a lot of credit goes to people like Omar Boraie for having a visionary mindset that sparked the revival of the dying real estate industry in New Jersey.