Friday, June 17, 2011

The Impact of Distressed Properties on Homes in Ocean County

Discounted Inventory

Distressed Inventory

Our friends at Keeping Current Matters just wrote an excellent piece on The Impact of Distressed Properties on Neighboring Values. We, here at Coldwell Banker Flanagan Realty, have been warning our Ocean County residents about the “Shadow Inventory” since the beginning of the year. The BIG QUESTION has always been, just when will all of these distressed properties come to market? According to The KCM Crew, we should expect to see larger numbers of distressed homes coming on the market over the next 6 months in Ocean County, NJ.

How will this “Distressed Inventory” affect home values in Ocean County, NJ?

Thursday, June 9, 2011

Ocean County's Adult Community of the Week: The Renaissance!

Renaissance Adult Community in Manchester

Welcome to the Renaissance!

Last month we reported about the Ocean County Adult Community Real Estate Market for the First Quarter of 2011. This month we decided to take a “snapshot” of a specific Adult Community each week and we are beginning with the Renaissance in Manchester.

For a comprehensive look at most of the Retirement Villages in Northern Ocean County, NJ, check out this “White Paper”.

The Renaissance is Manchester’s Premier Adult Community.

Manchester is home to a number of Adult Communities and Retirement Villages, including those located in the Whiting section of the township. What makes the Renaissance stand out from the crowd?

In 2010, 49 homes sold at an average sales price of $284,000 in the Renaissance. The average sales price for all of the Adult Communities in Manchester for 2010 was $95,000.