. July 16, 2008 SouthAmerica: Wednesday of last week I met a friend of mine who works full time selling real Estate in the Nutley area of New Jersey. He has been doing that for the last 5 years. I asked him what was going on regarding real estate around Nutley. He told me that most of the real estate salesperson would be lucky if they managed to sell 2 houses during 2008. He told me that he had just listed the house of his friend, who had a real nice house in Nutley. He told me that he would have listed that house at market price one year ago at around $ 330,000, and a year later he was listing his friendâs house for $ 200,000 and he was not sure that even with this major reduction in price they were going to be able to sell the property very quickly â and his friend was ready to reduce the price even further to be able to find a buyer for the property. He said that type of reduction in price shows how bad the real estate market is getting in this area of New Jersey, and Nutley is a nice town about 20 minutes by car from New York City via Lincoln Tunnel. .