I returned from vacation on Monday to find a "Violation Notice" from the Township of Toms River, NJ, taped to my office door. The "Violation Notice" read:
REMOVE ALL PORTABLE OR SNIPE SIGNS, BANNERS, PENNANTS & TENTS. You are only allowed to have signs which have been approved by the Toms River Planning Board.
The potential fine for failing to comply; $300.00 to $1,000!
What did these "offending" signs say? Here's one at the beginning of my latest video:
Now, I understand the Code Enforcer is just doing their job but, in the midst of the GREAT RECESSION, one may want to take a minute, READ the signs and act accordingly. OR, we could just keep putting out all those ELECTION signs...we know how effective they are...they got us HERE!
YOU be the judge.
Wednesday, June 24, 2009
Monday, June 22, 2009
Monthly Market Report for Toms River, NJ (May 2009)
Photo Credit
May by the numbers:
• 46 The number of Single Family Homes CLOSED during the month
• $356,467 Average LIST price for May*
• $332,528 Average SALES price for the month*
• 86 Average DAYS ON the MARKET for May
• 93.28% The SALES price to LIST price RATIO for the month
• 796 Number of Single Family Homes ACTIVE on the market in May
• 17.30 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!
*These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.
May, 2009, saw 46 Single Family Homes CLOSE in Toms River, as compared with 73 in May of 2008. Of those 46 homes, 11 were in the price range of $200,000 to $250,000 (22%). Combined with the CLOSINGS from the First Quarter of 2009, this represents an INCREASE in SALES of 17%, in this particular price range, over the same time last year!
Thursday, June 4, 2009
Who wants to have some fun?
I actually created this video last week, after reading Matthew Ferrara's post on his blog. Matthew made the "point" that; with today's abundance of home inventory, affordable home prices and record low mortgage rates; the reason buyers are still sitting on "the fence" is because the "fun" has been taken out of the home-buying process! So, here's my personal contribution toward putting a little "fun" back in the home-buying process here in Toms River, NJ:
Wednesday, May 13, 2009
April, by the numbers, in real estate, in Toms River, NJ
Monthly Real Estate Market Report for Toms River, NJ – April 2009
April by the numbers:
• 41 The number of Single Family Homes CLOSED during the month
• $373,465 Average LIST price for April*
• $344,655 Average SALES price for the month*
• 95 Average DAYS ON the MARKET for April
• 92.24% The SALES price to LIST price RATIO for the month
• 755 Number of Single Family Homes ACTIVE on the market in April
• 18.41 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!
*These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.
April, 2009, saw 41 Single Family Homes CLOSE in Toms River, as compared with 64 in April of 2008. Of those 41 homes, 10 were in the price range of $200,000 to $250,000 (24%). Combined with the CLOSINGS from the First Quarter of 2009, this represents an increase in SALES of 31%, in this particular price range, over the same time last year!
Photo Credit
Tuesday, May 5, 2009
Friday, April 17, 2009
Ratio of "Distressed" Sales in Toms River, in March 2009
Interesting observation:
Out of the 35 CLOSINGS in March, 14 were in the $200,000 to $300,000 price range. Out of those 14, ONLY 1 was a "Short Sale"!
What does that mean?
It is my professional opinion that we are in the "trough" between "waves" of foreclosures. The CLOSINGS in March were the result of CONTRACTS signed in December and January. With the new, Obama Administration, the "freeze" on foreclosures, "loan modifications" and "Housing Recovery Legislation", we are experiencing a "stall" or "delay" in DISTRESSED SALES.
I applaud the optimism of the current administration but, when over half of the previous "loan modifications" resulted in default within 6 months, I have a difficult time believing, "things will be different this time around."
"Time will tell", as they say. We shall see if April, May and June (traditionally the peak selling season) bring CHANGE or more of the same?
Image Credit
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