News

The majority of New Jersey counties have less than 6 months of inventory: the statewide average is at 5.2 months, according to New Jersey Realtor. The inventory shortage is not showing up in a frenetic rise in home prices, but rather in the number of closed sales and...

Forecast Indicates Increase of 4.8% by January 2018 CoreLogic reported that its home prices index [HPI] for sales nationwide, including distressed sales, increased year-over-year by 6.9% in January 2017 compared with January 2016. It also reported that according to...

American Water Breaks Ground for Camden HQ American Water Works Co. Inc. has broken ground on its new headquarters on the Camden Waterfront, it announced recently. The company, the largest publicly traded U.S. water and wastewater utility, held a ceremony at One Water...

The rising value of homes has not only brought many an underwater homeowner back into the black, it appears to be causing some to tap into equity for a variety of purposes. The beneficiaries are, of course, the lenders but also building supply companies such as Lowe’s...

A massive five-alarm blaze which started early Friday morning destroyed a vacant hotel, gutted three houses and damaged two condominium complexes, The Marlborough and La Pierre, in Ocean Grove, as well as several other smaller single family homes, three of which burnt...

The subject of property taxes is a subject that no one is willing to discuss. Right now, the average American pays about $2,149 per year in property taxes, or $180 a month. For the list of states below, that number translates into a monthly charge of $617-$261. As you...

Tip #1 Keep it light Show properties before dark. If you are going to be working after hours, advise your associate or first-line supervisor of your schedule. If you must show a property after dark, turn on all lights as you go through, and don't lower any shades or...

The National Association of Realtors reported that regionally, pending home sales in the Northeast rose 2.3% month-to-month and were 3.6% above 2016. In the Midwest sales fell 5.0% for the month and were 3.8% lower than January 2016. Pending home sales in the South...

Monmouth County January Key Metrics  2016  2017  Percent Change New Listings 799  906 + 13.4% Closed Sales 362  440  + 21.5% Days on Market Until Sale 91 74 - 18.7% Median Sales Price $370,000 $406,500  + 9.9% % of PX Received 94.8% 96.5%  + 1.8% Inventory 3,238 2,643...

New Jersey January Market Trends • Single Family Closed Sales were up 13.1% to 4,930. • Townhouse-Condo Closed Sales were up 7.4% to 1,438. • Adult Communities Closed Sales were up 16.4% to 440. • Single Family Median Sales Price increased 1.1% to $288,000. •...

According to the website Zillow, there is a surge of unmarried Millennial couples purchasing homes. The numbers have increased 36%: from 11% in 2005 to 15% in 2016. [Millennials range between the ages of 24 and 35.] This is leading to couples forsaking a marriage...

January Existing Home Sales Reflect Robust Buyer Demand for Spring The National Association of Realtors® reported that all major regions except for the Midwest saw sales gains for January 2016. Existing-home sales stepped out to a fast start in 2017, surpassing a...