New Jersey Housing Market Getting Boost Thanks To Boraie Development


New Jersey’s real estate market used to be the hottest ticket in town — until Hurricane Irene in 2011 and Sandy, the following year, nearly wiped the shore off the map. With over $30 billion in damage, it’s a miracle that some areas have improved dramatically.

In as early as 2014, the real estate market was on the upswing. Although it hasn’t always been a smooth ride, things are definitely looking better. The construction of multi-family homes has increased in the last year. And now that both the state and the U.S. is making strides in job creation, the housing sector is improving along with it.

“The economy is definitely improving. With the job market staying strong, the housing should do the same,” said Robert Denk, and economist with the National Association of Home Builders. He went on to say that although the market is recovering, it will not be completely back in 2015. There are a number of things to look out for including prices, sales and mortgages.

Boraie Development LLC is seizing on the opportunity to invest in areas affected by the hurricanes. The plan is to meet economic demands in urban centers such as New Brunswick and make them liveable again. Omar Boraie, CEO and founder of Boraie Development LLC has a vision. He’s always been able to find the potential in the most rundown areas. Not very long ago, some areas were little more than dumping grounds and abandoned houses. He has installed a residential high-rise and other properties to make the area more inviting.

With the help of Boraie Development LLC and banks and other developers, New Jersey’s housing market should see a significant upturn. Experts caution home buyers to do their homework. Find the best rates and even check out foreclosures to get the best deal.

Follow Boraie Development on LinkedIn