Boraie Development LLC is a renowned American company that focuses on the provision of real estate market services in urban. The firm specializes in services like real estate development, sales, and marketing as well as property management. For over three decades Boraie Development has developed into a strong and reliable real estate company in New Jersey.
Housing Crisis at NJ
Being a densely populated state in America, New Jersey has witnessed a surge in real estate market. According to an article published in Philly Purge, NJ housing crisis is surpassing most state. It has the highest rates in residential mortgages that are coupled with high rate of default and misdeed. These standards demonstrate positive rigorous post-crisis events. However, there is the expectation that the positive trend will be focused on solving the issue housing shortages and affordability.
According to NYTimes, the high demand of houses in the state may turn into emergency crises in the near future. The home deficiency witnessed in home sales and auctions, as well as high-speed sales of new houses, has left the industry bewildered. These situations have left the states even hungrier for more houses with an expectation of the situation worsening. One of the real estate tracking company, Zillow, and other economic reports suggest that from the drop of housing permits in May, there may be a situation of homeowners holding off their sales expecting increased gains.
The end of Great Recession signified an incredibly high demand for houses and excellent inventories in most towns of NJ. Most of its cities have well-developed infrastructures and are near transit and coupled with high employment rate. These factors continue to attract more buyers. However, there is expectation of increment of home prices as well as increased rents
About Boraie Development
Being one of the most sought real estate development company, Boraie Development has continued to dominate the State Theatre New Jersey skyline. The company has a reputation for partnering with the strong financial institutions, credible architects, and contractors to guarantee timely and successful project completion. Boraie has been on forefront to bridge the housing gap in NJ.
In a report by NJBiz, founded in New Brunswick by Omar Boraie, an Egyptian immigrant, Boraie Development has overseen development of numerous properties. The company mostly deals with residential and commercial properties including hotels, offices and housing facilities for students. Also, they do manage and sell properties. Since inception, the company is estimated to have disposed of over $150 million worth of residential and commercial properties.