This post is just too good not to re-post. Thank you Steve Harney and Keeping Current Matters!
Myths: The Earth Is Flat and Newspapers Sell Houses
Tuesday, November 16, 2010
Tuesday, November 9, 2010
The Compelling Argument to List Your Home Today in Toms River, NJ
We have all heard of Seasonal Affective Disorder (SAD) but never has it been more prevalent than in real estate. Just how does(SAD)relate to listing your home for sale in Toms River, NJ?
Typically, this time of year (Nov & Dec), we hear the following statement from prospective Home-Sellers; "I'm going to wait until after the Holidays to put my home on the market".
Just what does "waiting until after the Holidays" actually COST a potential Home-Seller in Toms River, NJ? The answer lies in the historical data:
--Nov & Dec 2006; Toms River had almost 10.8 months of inventory available*
--Jan & Feb 2007; Toms River had almost 12.6 months of inventory available
--Nov & Dec 2007; Toms River had almost 10.9 months of inventory available
--Jan & Feb 2008; Toms River had almost 15 months of inventory available
--Nov & Dec 2008; Toms River had almost 12.3 months of inventory available
--Jan & Feb 2009; Toms River had almost 18.6 months of inventory available
--Nov & Dec 2009; Toms River had almost 10.5 months of inventory available
--Jan & Feb 2010; Toms River had almost 17.6 months of inventory available
*Months of available inventory = How long it would take to sell off the existing supply of homes if NO other homes were to come on the market.
Long story short; "waiting until after the Holidays" will COST you between 2 and 7 months on the market and we all know "time is money". So, if you want more money for your home, it behooves you to list your home in Toms River, NJ, today!
Typically, this time of year (Nov & Dec), we hear the following statement from prospective Home-Sellers; "I'm going to wait until after the Holidays to put my home on the market".
Just what does "waiting until after the Holidays" actually COST a potential Home-Seller in Toms River, NJ? The answer lies in the historical data:
--Nov & Dec 2006; Toms River had almost 10.8 months of inventory available*
--Jan & Feb 2007; Toms River had almost 12.6 months of inventory available
--Nov & Dec 2007; Toms River had almost 10.9 months of inventory available
--Jan & Feb 2008; Toms River had almost 15 months of inventory available
--Nov & Dec 2008; Toms River had almost 12.3 months of inventory available
--Jan & Feb 2009; Toms River had almost 18.6 months of inventory available
--Nov & Dec 2009; Toms River had almost 10.5 months of inventory available
--Jan & Feb 2010; Toms River had almost 17.6 months of inventory available
*Months of available inventory = How long it would take to sell off the existing supply of homes if NO other homes were to come on the market.
Long story short; "waiting until after the Holidays" will COST you between 2 and 7 months on the market and we all know "time is money". So, if you want more money for your home, it behooves you to list your home in Toms River, NJ, today!
Thursday, November 4, 2010
Happy New Year Toms River, NJ!
Yes, we know it's November...but we like to believe November 1st is actually New Year's Day in the real estate industry. Why? Because when we start PLANNING for the coming year in November, we actually see results in January! So, what are YOUR PLANS if you want to buy, or need to sell, a home in Toms River, NJ, in 2011?
If you plan to BUY a home in 2011:
-When do you plan on moving?
-Where do you plan to start your search?
-When do you plan on getting pre-approved for a mortgage?
-When do you plan on working with a real estate professional?
If you plan on SELLING a home in 2011:
-When do you plan on moving?
-Where do you plan on going?
-How do you plan on getting there?
-When do you plan on meeting with a real estate professional?
These are just a sample of the some of the questions you may need to ask yourselves now, in November, if you PLAN on buying, or selling, a home in Toms River, NJ, in 2011.
Here's more to consider:
If you plan to BUY a home in 2011:
-When do you plan on moving?
-Where do you plan to start your search?
-When do you plan on getting pre-approved for a mortgage?
-When do you plan on working with a real estate professional?
If you plan on SELLING a home in 2011:
-When do you plan on moving?
-Where do you plan on going?
-How do you plan on getting there?
-When do you plan on meeting with a real estate professional?
These are just a sample of the some of the questions you may need to ask yourselves now, in November, if you PLAN on buying, or selling, a home in Toms River, NJ, in 2011.
Here's more to consider:
Wednesday, October 6, 2010
Who will you listen to? Don't be a "Little Jimmy"!
With all the misinformation being disseminated by the various media outlets (including the National Association of Realtors), it is no wonder that today's home-buyers and home-sellers, in Ocean County, NJ, don't know who to listen to! The NAR just released their latest, Existing Home Sales Report, which shows sales of existing homes in August 2010 were 19% below sales in August of 2009. What almost everyone has forgotten, or doesn't bother to read further than the first paragraph, is that August of 2009 was 90 days prior to the expiration of the Original Home-Buyer Tax Credit!
So, what are the facts today?
Most "experts" agree that home prices have returned to levels unseen since October of 2003. AND, even the "Castaways on Gilligan's Island" know mortgage interest rates are the lowest in 50 years (still averaging 4.75% for a 30 year fixed as of this post). So, as the KCM CREW so deftly point out in their excellent post, Look at the Cost, Not Just the Price:
"Let’s assume for the sake of this example that you purchased a home and borrowed $200,000 via a mortgage. In 2003, your monthly mortgage payment (principle and interest) would have been $1,192.68. If you borrowed the same $200,000 today your monthly payment would be $1,013.37. Same house, same price but the COST is $179.31 less a month. That’s a savings of over $2,000 a year! Over the life of a 30 year mortgage, you would save over $64,000."
I know what you're thinking now...
Well, that's all well and fine, coming from a real estate broker but you have your own agenda!
Yes, I do. And here it is:
Ok, ok; still have your doubts about buying a home in Ocean County, NJ? Have you ever heard of John Paulson? Perhaps, you may be interested in hearing what he had to say about the "Housing Market" last week?
– John Paulson 9/27/2010
So, what are the facts today?
Most "experts" agree that home prices have returned to levels unseen since October of 2003. AND, even the "Castaways on Gilligan's Island" know mortgage interest rates are the lowest in 50 years (still averaging 4.75% for a 30 year fixed as of this post). So, as the KCM CREW so deftly point out in their excellent post, Look at the Cost, Not Just the Price:
"Let’s assume for the sake of this example that you purchased a home and borrowed $200,000 via a mortgage. In 2003, your monthly mortgage payment (principle and interest) would have been $1,192.68. If you borrowed the same $200,000 today your monthly payment would be $1,013.37. Same house, same price but the COST is $179.31 less a month. That’s a savings of over $2,000 a year! Over the life of a 30 year mortgage, you would save over $64,000."
I know what you're thinking now...
Well, that's all well and fine, coming from a real estate broker but you have your own agenda!
Yes, I do. And here it is:
Ok, ok; still have your doubts about buying a home in Ocean County, NJ? Have you ever heard of John Paulson? Perhaps, you may be interested in hearing what he had to say about the "Housing Market" last week?
“If you don’t own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.”
– John Paulson 9/27/2010
Monday, September 13, 2010
How's the Market this week in Toms River, NJ (Sept. 13th, 2010)?
How's the real estate market in Toms River, NJ, this week? As the saying goes, "All real estate is LOCAL" and despite the dismal headlines over the last few weeks, sales of Single Family Homes in Toms River continue to surpass our neighbors! It is still a phenomenal "Buyer's Market" with an abundance of inventory, low home prices and record low mortgage rates. This week; new listings DID NOT outpace the number of homes absorbed (sold)! We will need to keep our eyes on this to see if a trend develops...otherwise, the market will continue to favor the buyer and this "Extreme Buyer's Market" will be here a while.
Let's take a look at ALL of the Toms River zip codes which includes South Toms River, Holiday City Berkeley and Pine Lake Park (Note; Altos Research does not distinguish between Single Family Homes and Adult Communities):
Fortunately, the Condo Market in Toms River was stable this week, with less homes coming on the market(5) than those selling off(11). Tighter lending requirements and competition from the Single Family Home Market will continue to weaken the Condo Market, in Toms River, for the foreseeable future:
As far as prices in Toms River go, we are experiencing a decline in prices due to the "Post Tax Credit Affect"; without the artificial demand created by the Tax Credit, the Law of Supply and Demand has resumed it's natural course of action and the result is diminishing home prices. This "affect" was not unexpected and prices are expected to continue to diminish as we enter the last third of the year:
So, "How's the Market in Toms River, NJ"? If you are in the market to buy a home, "it just doesn't get much better than this!" If you MUST sell your home, PRICE IT RIGHT now as prices WILL continue to fall. If you WANT to sell but don't HAVE TO sell, take your home OFF the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Toms River, NJ, this week!
Let's take a look at ALL of the Toms River zip codes which includes South Toms River, Holiday City Berkeley and Pine Lake Park (Note; Altos Research does not distinguish between Single Family Homes and Adult Communities):
Fortunately, the Condo Market in Toms River was stable this week, with less homes coming on the market(5) than those selling off(11). Tighter lending requirements and competition from the Single Family Home Market will continue to weaken the Condo Market, in Toms River, for the foreseeable future:
As far as prices in Toms River go, we are experiencing a decline in prices due to the "Post Tax Credit Affect"; without the artificial demand created by the Tax Credit, the Law of Supply and Demand has resumed it's natural course of action and the result is diminishing home prices. This "affect" was not unexpected and prices are expected to continue to diminish as we enter the last third of the year:
So, "How's the Market in Toms River, NJ"? If you are in the market to buy a home, "it just doesn't get much better than this!" If you MUST sell your home, PRICE IT RIGHT now as prices WILL continue to fall. If you WANT to sell but don't HAVE TO sell, take your home OFF the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Toms River, NJ, this week!
How's the Market this week in Manchester, NJ (Sept. 13th, 2010)?
How's the real estate market in Manchester, NJ, for the week of September 13th, 2010? As the saying goes, "All real estate is LOCAL" and it is still a "Buyer's Market" with an abundance of inventory, lower home prices and record low mortgage rates. Let's take a look (Note; Altos Research does not differentiate between Single Family Homes and Adult Community Homes):
Unfortunately, the Condo Market in Manchester appears to be diminishing as 2 units sold in the last week and BUT 3 new units came on the market:
Home prices appear to be falling, across the board, in Manchester, over the last 90 days:
So, "How's the Market in Manchester, NJ"? If you are in the market to buy a home, IT JUST DOESN'T GET ANY BETTER THAN THIS! If you MUST sell your home, price it right now as prices are falling again. If you WANT to sell but don't HAVE TO sell, take your home off the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Manchester, NJ, this week!
Unfortunately, the Condo Market in Manchester appears to be diminishing as 2 units sold in the last week and BUT 3 new units came on the market:
Home prices appear to be falling, across the board, in Manchester, over the last 90 days:
So, "How's the Market in Manchester, NJ"? If you are in the market to buy a home, IT JUST DOESN'T GET ANY BETTER THAN THIS! If you MUST sell your home, price it right now as prices are falling again. If you WANT to sell but don't HAVE TO sell, take your home off the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Manchester, NJ, this week!
How's the Market this week in Island Heights, NJ (Sept.13th, 2010)?
How's the real estate market in Island Heights, NJ? As the saying goes, "All real estate is LOCAL" and despite the dismal headlines over the last few weeks, sales of Single Family Homes in Island Heights appear to be stabilizing! It is still a "Buyer's Market" with an abundance of inventory (33 is an abundance in Island Heights), lower home prices and record low mortgage rates . Let's take a look:
Fortunately, the Condo Market in Island Heights is specific and stable; there is only one community. There are currently 3 units on the market with no new sales and no new listings:
As far as prices in Island Heights go, we are experiencing a steeper decline in the higher price points while the lower end (under $400,000) appears to be stabilizing:
So, "How's the Market in Island Heights, NJ"? If you are in the market to buy a home, "it just doesn't get much better than this!" If you MUST sell your home, price it right now as prices will continue to fall. If you WANT to sell but don't HAVE TO sell, take your home off the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Island Heights, NJ, this week!
Fortunately, the Condo Market in Island Heights is specific and stable; there is only one community. There are currently 3 units on the market with no new sales and no new listings:
As far as prices in Island Heights go, we are experiencing a steeper decline in the higher price points while the lower end (under $400,000) appears to be stabilizing:
So, "How's the Market in Island Heights, NJ"? If you are in the market to buy a home, "it just doesn't get much better than this!" If you MUST sell your home, price it right now as prices will continue to fall. If you WANT to sell but don't HAVE TO sell, take your home off the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Island Heights, NJ, this week!
Subscribe to:
Posts (Atom)