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There are very few houses for sale. And multiple offers are driving up prices on the ones that are, putting more money in seller’s pockets.Selling will make you a buyer. Homes are in short supply and there’s a lot of competition for the ones that are for sale. While that’s good when you’re the seller, once you need to find a new place to live it could be a problem. James Hughes, a broker/salesman at Compass New Jersey, in Montclair, had a client in West Orange whose house sold immediately at $50,000 above asking price. The family was looking to upgrade to a larger house in the same town.

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