Monmouth County Statistics 7-1-15 through 10-15-15

Monmouth County Statistics

For 7/1/2015 To 10/15/2015

Selected County: Monmouth

				For 7/1/2015 To 10/15/2015
				Active	Volume	Avg List Price	New	Pend	Sold	Avg Sold Price	DOM	Expr	With- drawn	BOM
Residential				9,343	$ 5,727,024,099	$ 612,975	4,368	2,741	2,796	$ 475,577	67	1,498	346	646
Multi-Family				345	$ 147,290,675	$ 426,929	131	63	58	$ 339,179	104	70	12	24
Subtotal				9,688	$ 5,874,314,774	$ 606,350	4,499	2,804	2,854	$ 472,805	68	1,568	358	670
Land/Lots				723	$ 443,771,859	$ 613,792	262	79	49	$ 296,373	130	169	19	16
Commercial				869	$ 312,249,923	$ 473,106	338	70	75	$ 192,674	153	198	12	11
Residential Rental				2,250	$ 7,187,643	$ 3,195	1,564	894	1,195	$ 16,772	37	314	105	74
Subtotal				3,842	$ 763,209,425	$ 198,649	2,164	1,043	1,319	$ 37,161	48	681	136	101
Total				13,530	$ 6,637,524,199	$ 490,578	6,663	3,847	4,173	$ 335,107	62	2,249	494	771

Ocean County Home Sale Statistics 7-1-16 Through 10-15-15

Ocean County Statistics

For 7/1/2015 To 10/15/2015

Selected County: Ocean

				For 7/1/2015 To 10/15/2015
				Active	Volume	Avg List Price	New	Pend	Sold	Avg Sold Price	DOM	Expr	With- drawn	BOM
Residential				11,541	$ 3,931,468,934	$ 340,652	5,245	3,335	3,160	$ 263,626	80	1,840	289	723
Multi-Family				175	$ 97,591,597	$ 557,666	73	18	12	$ 388,208	69	48	2	3
Subtotal				11,716	$ 4,029,060,531	$ 343,894	5,318	3,353	3,172	$ 264,097	80	1,888	291	726
Land/Lots				1,124	$ 343,100,884	$ 305,250	391	108	105	$ 303,402	133	259	7	19
Commercial				514	$ 181,239,568	$ 464,717	170	44	34	$ 166,021	147	115	7	8
Residential Rental				1,061	$ 2,370,554	$ 2,234	757	413	507	$ 14,459	34	117	33	38
Subtotal				2,699	$ 526,711,006	$ 195,150	1,318	565	646	$ 69,400	59	491	47	65
Total				14,415	$ 4,555,771,537	$ 316,044	6,636	3,918	3,818	$ 231,155	77	2,379	338	791

Existing Home Sales

To Read More Click Here

Why Now Is The Best Time To Buyer Real Estate

This simple chart depicts 30 Year Conventional

and FHA mortgage rates over the past year:

What Goes Down... Will Go Back Up....

Buyers, Investors, Wealth Builders

NOW is the best time to invest in Real Estate.

There has not been a better time in more than 30 years

to purchase Real Estate.

The lower the rate the more you can afford.There are always good reasons for waiting. But you might not see another opportunity like this for a long time.

We are now headed UP from the bottom of historic equity losses. The overall market at the Jersey Shore is again increasing at a steady pace.

 One only needs to look at any Real Estate investors portfolio to know when they purchased Real Estate. 

Don't miss your chance to take advantage of low interest rates and the lowest Real Estate prices you will see for a long time.

The perfect opportunity may be just around the corner.

Dawn Marie White - Crossroads Realty

Thanks for coming and please visit my website at NJDistinctiveHomes.com

I Will Help You Find Your Dream Home

732-581-9414 Cell    800-677-4033 Toll Free

Check Out This Article from the Wall Street Journal

"Paulson says; "Now is the best time to invest n Real Estate."

Consumer Confidence 2015

Two recently released reports reveal that the American public is starting to feel much better about the U.S. economy. The University of Michigan’s Surveys of Consumers showed that: “Consumer optimism reached the highest level in the past decade in the January 2015 survey…Consumers judged prospects for the national economy as the best in a decade, with half of all consumers expecting the economic expansion will continue for another five years. The anticipated strength in the overall economy has been accompanied by more favorable income and employment expectations.” Here is a chart showing results over the last decade:

Consumer Optimism | Keeping Current Matters 

 As all consumers are feeling more optimistic, more young adults are moving out of their parents’ basements and into a residence of their own. The recent Census report shows that new household formations skyrocketed in 2014. Below is a chart showing the historical significance of the numbers:

Household Formations | Keeping Current Matters 

 Bottom Line The economy is definitely improving and, more importantly, the American consumer is beginning to feel much more confident. This should lead to a very robust real estate market in 2015.

The Real Reason People Buy Homes

 

 

 

There’s No Place Like Home

The top 4 reasons to own a home cited by respondents were not financial.

1. It means having a good place to raise children & provide them with a good education

From the best neighborhoods to the best school districts, even those without children at the time of purchasing their home, may have this in the back of their mind as a major reason for choosing the location of the home that they purchase.

2. You have a physical structure where you & your family feel safe

It is no surprise that having a place to call home with all that means in comfort and security is the #2 reason.

3. It allows you to have more space for your family

Whether your family is expanding, or an older family member is moving in, having a home that fits your needs is a close third on the list.

4. It gives you control over what you do with your living space, like renovations and updates

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?
The 5^th reason on the list, is the #1 financial reason to buy a home as seen by respondents:

5. Owning a home is a good way to build up wealth that can be passed along to my family

Either way you are paying a mortgage. Why not lock in your housing expense now with an investment that will build equity that you can borrow against in the future?

Bottom Line

Whether you are a first time homebuyer or a move-up buyer who wants to start a new chapter in their life, the holiday season is a great time to reflect on the intangible factors that make a house a home.

Debunking 4 Myths about buying a home

A recent study by the Joint Center for Housing Studies at Harvard University revealed when renters were asked why they do no plan to own in the future, financial constraints were a more common response than the perceived lifestyle benefits they may receive from renting. Today, we want to go over those financial challenges and see if we can put some fears to rest and also clear up some misconceptions. Here are the top four financial hurdles that cause renters not to buy:

You Cannot Afford a Home

Well over 50% of renters consider this as a financial barrier to homeownership. However, study after study has shown us that there are major misunderstandings about what is required to purchase a home.

The biggest misconception is the amount of a down payment required. A recent surveyrevealed that 44% of respondents believed that a 20% down payment was required. In actuality, mortgages are available with as little as 5% down (and even 3% in certain situations).

The same survey showed that 30% of respondents believe that only individuals with ‘high incomes’ can obtain a mortgage. In actuality, there are several programs intentionally created to help moderate income families buy a home of their own (look at the FHA program for example).

You Do Not Have Good Enough Credit to Get a Mortgage

The survey mentioned above showed that 64% of respondents believe they must have a “very good” credit score to buy a home. Most people don’t realize that the average credit score for closed loans has actually dropped 24 points in the last two years. For more information on credit scores click here.

It’s Not a Good Time to Buy a Home

Determining when is the right time to buy a home from a pure financial calculation can be difficult. There are two elements of the cost of a home: the price of the house and the mortgage interest rate. When considering a purchase, you want to have at least an indication where prices and mortgage rates are headed. According to over 100 experts, house values are expected to increase by almost 20% between now and 2018. AndFreddie Mac recently projected that mortgage rates would be as much as one full point higher by this time next year.

With both prices and interest rates projected to increase, now is the perfect time to buy a home.

It’s Cheaper to Rent than Buy

This is a myth that doesn’t want to die. However, Trulia recently reported that, in fact, buying is actually dramatically cheaper than renting. Here is what they said:

“Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas. In fact, buying is 38% cheaper than renting now, compared with 35% cheaper than renting one year ago.”

Bottom Line

If you are even thinking about buying, get the facts from a trained professional. You may be pleasantly surprised by what you find out.