Flippers Find New Jersey Home Sweet Home Pt 4

New Jersey’s top 10 cities for flipping:

#1: Gloucester City, New Jersey

Located by the Delaware River, Gloucester City’s proximity to Philadelphia by way of the Walt Whitman Bridge is a definite plus. Also, its easy access to the sports stadiums of Philadelphia (Phillies, Eagles and 76ers) works in its favor. Gloucester City ranks #1 due to its super-hot return on investment: 200%!

  • Zip Code: 08030
  • Q1 Home Flipping Rate (Pct of Sales): 25.6%
  • Avg. Days to Flip: 229
  • Flipping Gross Profit: $48,000
  • Number of Flips: 11
  • Gross ROI: 200%

 #2: Willingboro, New Jersey

Willingboro boasts access to Philadelphia, and considering Philadelphia’s resurgence, Willingboro is benefitting with the highest number of flips, 35, in the first quarter of 2017.

  • Zip Code: 08046
  • Q1 Home Flipping Rate (Pct of Sales): 22.2%
  • Avg Days to Flip: 205
  • Flipping Gross Profit: $102,400
  • Number of Flips: 35
  • Gross ROI: 144.2%

 #3: Roselle, New Jersey

Roselle’s real estate market is more than 20% accounted for by the fix-and-flip market.

  • Zip Code: 07203
  • Q1 Home Flipping Rate (Pct of Sales): 21%
  • Avg. Days to Flip: 204
  • Flipping Gross Profit: $133,050
  • Number of Flips: 17
  • Gross ROI: 144.7%

 #4: Merchantville, New Jersey

Investors are able to flip their investments in 179 days in Merchantville, located in Camden County. Merchantville’s population of only 3,821 reported 12 flips for Q1 of 2017. Median home value is calculated to be $162,000 and distressed properties are selling for much less.

  • Zip Code: 08109
  • Q1 Home Flipping Rate (Pct of Sales): 17.9%
  • Avg Days to Flip: 179
  • Flipping Gross Profit: $103,950
  • Number of Flips: 12
  • Gross ROI: 157.5%

Flippers Find New Jersey Home Sweet Home Pt 3

Another source, WalletHub, did a fix-to-flip study, ranking 150 cities nationwide in which only 2 New Jersey cities ranked, Jersey City (140) and Newark (148). The WalletHub study found that the average return on investment was $62,624 (gross flipping profit) in 2016.

TOP 5 NJ ZIP CODES (HOME FLIP PERCENTAGES IN 2015)

  1. 07107 (Newark – 15%)
  2. 07108 (Newark – 12%)
  3. 08046 (Willingboro – 11.9%)
  4. 08757 (Toms River – 11.7%)
  5. 07103 (Newark – 11.6%)

May This Halloween Be All Treat and No Trick

Wishing all of our friends, colleagues and associates a fun day where all of your surprises are treats and not tricks.

From your friends at Counsellors Title Agency, Inc. celebrating our 21st year of serving the great State of New Jersey.

 

 

September Ocean and Monmouth County Sales Trend Higher

OCEAN COUNTY SEPTEMBER 2017
The median sales price for single family homes jumped by 9.1% from September 2016. Ocean County sales of single family homes also grew by 3.7% year-over-year this September. New listings continued to climb with a bump of 1.9% year-over-year despite the fact that inventory fell by over 19% from 2016. Supply of homes for sale shrank to just over 6.6 months’ supply, a 26% drop from 2016.

Single Family
Key Market Metrics     2016      2017    Change
■ New Listings            1,046     1,066    + 1.9%
■ Closed Sales              684        709    + 3.7%
■ DOM*                         92          73     – 10.6%
■ Median Px              $281,5K  $307K   + 9.1%
■ % of Px Rec’d          96.0%    96.7%  + 0.7%
■ Inventory                 5,207     4,218   – 19.0%
■ Months of Inventory   8.8          6.6   – 26.1%
* Days on Market Until Sale

MONMOUTH SEPTEMBER 2017
Monmouth County Sales of Single Family homes remained flat in September, but new listings climbed by 7.8% from last August. Other good numbers reflecting a strong buyers market were Days on Market fell again by 16.4% to just 56 days and percent of price received climbed by 0.7%. In addition to the rise in new listings, the inventory of homes for sale fell year-over-years to under 3,000 properties.

Single Family September 2017
Key Market Metrics       2016     2017     Change
■ New Listings               879       948    + 7.8%
■ Closed Sales               632       629    – 0.5%
■ DOM*                          67         56     – 16.4%
■ Median Px              $410.8K $410.0K   – 0.2%
■ % of Px Rec’d             97.1%    97.8% + 0.7%
■ Inventory                    3,750    2,962  – 21.0%
■ Months of Inventory       7.0        5.0   – 28.6%
* Days on Market Until Sale

ABOUT COUNSELLORS TITLE AGENCY
Since 1996, Counsellors Title Agency had provided swift, proven and knowledgeable title insurance settlement and search expertise for thousands of New Jersey’s attorneys, loan officers, Realtors, borrowers and purchasers. CTA’s detail-oriented team of professionals streamlines the complexities of a real estate transaction to make each one stress and glitch-free.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

Halloween Fun in New Jersey

Fright Fest
Through October 31 at Six Flags Great Adventure, off Route 537, Jackson. 732-928-2000 or sixflags.com/greatadventure.

Well known for its scary attractions, Fright Fest also offers “Thrills By Day,” with kid-friendly, zombie-free hours before “the awakening” at 6 p.m. A trick-or-treat trail with Looney Tunes characters, animal and comedy shows, and live music are part of the fun.

The park still has some creepy decorations during the day, including a “pumpkin king” who stands in the middle of the “bloody” fountain near the entrance. But it’s pretty mild. As 6 p.m. draws near, a haunted recording is played that gives notice that the zombies are on their way, allowing families with little ones to skedaddle before real Fright Fest begins.

Creatures Of The Night
Fridays and Saturdays, October 13 to 28, at Huber Woods Park, 25 Brown’s Dock Road, Locust section of Middletown. 732-842-4000, ext. 1. monmouthcountyparks.com

Hop aboard a wagon for an educational, un-scary family adventure in the early evening. The wagon takes visitors through the park as staff and volunteers perform skits on stages in the fields.

Scary Stuff!: Boo! 4 Halloween attractions in and around NJ

Admission is $10 per person, including a snack. Children under age 3 are admitted free. Pre-registration is required. Sign up for time slots for the 60-minute program.

Boo at the Boardwalk
October 21, 22, 28 and 29 at Jenkinson’s boardwalk, Point Pleasant Beach. 732-892-0600 or jenkinsons.com

Trick-or-treating, games, crafts, pumpkin patch, pumpkin carving, pumpkin derby beach maze.

Halloween at Great Swamp
October 28 and 29, Great Swamp Outdoor Education Center, 247 Southern Blvd., Chatham Township. 973-635-6629 or morrisparks.net. Rain or shine.

Designed for ages 6 and up, “Trail Tales” takes visitors along trails in the park, lit with hand-carved jack o’ lanterns. Costumed storytellers tell slightly spooky, nature-themed tales. Register for the 5:30 or 7:45 p.m. program on October 28. Admission is $6.

“Teeny Tiny Trail Tales” is for the younger set, ages 2 to 5. From 1 to 2:30 p.m. Oct. 29, families with little ones can explore the trails with a guide, hunt for hidden surprises along the way, and listen to storytellers in the woods. Admission is $3 per person.

Halloween Happenings
October 29, Fosterfields Living Historical Farm, 73 Kahdena Road, Morris Township. 973-326-7645 or morrisparks.net.

Play Halloween games, decorate cookies, and try on old-fashioned costumes. Hunt for jack o’lanterns on a guided walk and take an open-air wagon ride back to the visitor center. Fun begins at 1 p.m. October 29. Admission is $6, $5 per senior, $4 per child ages 4 to 16, $2 per child ages 2 and 3, free for babies.

 

Flippers Find New Jersey Home Sweet Home Pt 2

Even Goldman Sachs is Getting into the Game of Flipping
Another good sign that home flippers are going to be around for a while is the recently announced purchase of Genesis Capital by the slick and savvy Goldman Sachs. Genesis got its start at the right time, back in 2007. Genesis Capital, a specialty commercial lending platform for professional residential real estate developers, reflects the growing demand for financing for home flippers. At the time of the announcement, Genesis reported a footprint in the 20 largest cities across the country.

According to some sources, over the last four years, Genesis-involved loan originations surpassed $2.5 billion, and $1 billion in 2016 alone.

According to Goldman Sachs, it will assist Genesis in its next phase of growth, with a focus on achieving additional scale within its currently served markets while spearheading the introduction of new products and finance solutions to a wider and national customer base. Lending to the house-flipper is another way Goldman is looking to profit from the sustained trend in real estate investment.

ABOUT COUNSELLORS TITLE AGENCY
Since 1996, Counsellors Title Agency had provided swift, proven and knowledgeable title insurance settlement and search expertise for thousands of New Jersey’s attorneys, loan officers, Realtors, borrowers and purchasers. CTA’s detail-oriented team of professionals streamlines the complexities of a real estate transaction to make each one stress and glitch-free.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

 

NJ Single Family Pending Sales Soar Over 11%

New Jersey September 2017 Monthly Report

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving. The slowness of New Jersey’s economic recovery has made the state less susceptible to stall and more open to stability than other parts of the country.

FAST STATS
• Single Family Closed Sales were up 4.1% to 7,103.
• Townhouse-Condo Closed Sales were up 7.0% to 2,193.
• Adult Communities Closed Sales were down 3.4% to 703.
• Single Family Median Sales Price remained flat at $310,000.
• Townhouse-Condo Median Sales Price% 4.0 percent to $247,500.
• Adult Communities Median Sales Price remained flat at $180,000.

http://njar-public.stats.10kresearch.com/docs/lmu/x/EntireState?src=map

Past Due September Mortgages Jump 9 Percent

Black Knight’s Reports September 2017 Mortgage Data   

Hurricanes Irma and Harvey Drive Surge in Past-Due Mortgages

Nationally, the number of non-current mortgages (those at least 30 days past-due or in active foreclosure) jumped by 214,000 (+9 percent), driven primarily by fallout from Hurricanes Harvey and Irma
  • FEMA-declared hurricane disaster areas accounted for the bulk of the increases; non-current inventory rose by 84,000 (+48 percent) in Irma disaster areas and 52,000 (+67 percent) in those related to Harvey
  • Prior to the hurricanes, Texas and Florida ranked 20th and 22nd among states by non-current mortgage rates; after the storms, they now rank 3rd and 5th respectively
  • Primarily as a result of hurricane impact, September saw the first annual rise in mortgage delinquencies (borrowers at least 30 days past-due but not yet in active foreclosure) since July 2010
  • Monthly foreclosure starts were at their lowest in more than 17 years, with starts down as much as 90 percent in areas covered by post-hurricane foreclosure action moratoria

Fire Rips Through Historic Shore Restaurant

Schneider’s Restaurant was gutted by a fire early Saturday morning. The restaurant is owned by Johann and Beverly Schneider, a family-run business which began back in Newark New Jersey in the 1960’s.

When the Schneider family moved its digs to Avon-by-the-Sea in 1970, it began specializing in provide great German cooking to the Jersey Shore.

 

 

 

 

 

 

 

 

Review: 13 Things Mentally Strong People Don’t Do

Today the bookshelves are filled with quick fixes, checklists and cheat sheets. But sometimes a book is written that simplifies and reminds you that we have the power to take control over the way we view and see our lives. Amy Morin’s book 13 Things Mentally Strong People Don’t Do is just such a book. If you do nothing except read the 13 chapter headings, you are already a bit smarter and stronger in your perspective and outlook.

One of her takeaways is the fact that, “Bad habits are like heavy weights that you drag around as you go about your day. They’ll slow you down, tire you out, and frustrate you… It’s not that people are either mentally strong or mentally weak. We all possess some degree of mental strength, but there’s always room for improvement. Developing mental strength is about improving your ability to regulate your emotions, manage your thoughts, and behave in a positive manner, despite your circumstances.”

Amy Morin’s 13 Things Mentally Strong People Don’t Do

They Don’t:

Waste time feeling sorry for themselves
Give away their power
Shy away from change
Focus on things they can’t control
Worry about pleasing everyone
Fear taking calculated risks
Dwell on the past
Make the same mistakes over and over
Resent other people’s success
Give up after the first failure
Fear alone time
Feel the world owes them anything
Expect immediate results

ABOUT COUNSELLORS TITLE AGENCY
Since 1996, Counsellors Title Agency had provided swift, proven and knowledgeable title insurance settlement and search expertise for thousands of New Jersey’s attorneys, loan officers, Realtors, borrowers and purchasers. CTA’s detail-oriented team of professionals streamlines the complexities of a real estate transaction to make each one stress and glitch-free.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

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