What's happening in the real estate market September update
Houses for sale in Egg Harbor Township New Jersey
Here’s a quick overview of what’s happening in the real estate market in Egg Harbor Township. Median sold price is down 6% to $190,000. The median for sale price is up 2% and sold properties are down 2%. New properties are down 9% and total inventory is down 19%.
So even with lower inventories prices are still down overall. My interpretation of these statistics indicate that the foreclosure properties that are still on the market are continuing to pull prices down. At the same time some of the communities in Egg Harbor Township are very short on inventory and so there is a great possibility of price appreciation. Contact me if you’d like to know how much your home is worth in today’s market. To view full statistics for August 2017 Egg Harbor Township real estate click here: egg-harbor-township-market-stats
New homes starting at $220,000. Up to 4 bed, 2.5 bath, 2 car garage.
I got to tour the building site today of Egg Harbor Township’s newest community Gardenia Estates. The community is located just off West Jersey Ave not far from English Creek road. The development is a small community of 25 homes on a cul-de-sac. The homes are built by DR Horton as “quick delivery” homes.
Gardenia Estates Model Home
The biggest benefit of the community is value. Homes are priced in the low to mid $200,000 range. For $210,840 you can purchase a 1,900 square foot home featuring 4 bedrooms, 2.5 baths and a two car garage. Home sizes range from 1,600 square feet ranch homes up to 2,867 square feet 5 bedroom and 3.5 baths. Homes feature open layouts and 9 foot ceilings. The home are all built on slabs and basements are not an option. The “quick delivery” homes means that the builder in most cases has pre-selected options and colors of the homes. If you are looking to make customization I suggest you contact me now as there may be opportunity to make changes at this stage of the construction process.
If you’re looking to build a home it’s hard to beat the value of what DR Horton is offering. If you’re looking for a basement, more options and customization this may not be the best community for you. I work with all the area builders and would be happy to consult with you to find a home and community that meets your needs. Please contact me and I’m happy to help.
The best place at the shore for great ice cream and burgers.
One of our favorite family places to go in the summer is Margate Dairy Bar & Burger. The food is awesome there. Fresh made burgers and fries and great gluten free options. My favorite is the lamb burger with extra tzatziki sauce on the gluten free bun with sweet potato fries. The atmosphere is fantastic. The service is friendly and helpful. You can sit inside or outside with plenty of seating. The is cream is fantastic although I’ve only had the Luna and Larry’s Coconut Bliss ice cream. The Coconut Bliss ice cream is sugar dairy and gluten free and is the best dairy free ice cream that I’ve had. And I’m sure the sugar filled dairy ice cream tastes great too!
Coconut Bliss Ice Cream
Friday night is Jazz night and they have a fantastic Jazz band playing outside with instruments for kids to play along with the music. Margate Dairy bar is located at 9510 Ventnor Avenue Margate City, NJ 08402. Their phone number is 609-822-9559 and website is http://www.margatedairybar.com/
Margate Dairy & Burger Bar is open late in the summer and you can call ahead or order online to save time in line. So please check it out and let me know what you think. I trust you’ll find it to be the best burgers and ice cream at the Jersey shore!
$16,000 grant available for Atlantic, Camden, Essex, Gloucester, Passaic and Union County home buyers.
The New Jersey Housing and Finance agency recently released a new grant program for first time home buyers and veterans in Atlantic, Camden, Essex, Gloucester, Passaic and Union County. The grant program covers up to $16,000 for down payment and closing costs assistance.
To qualify your household income must fall below these maximums?
Atlantic, Camden & Gloucester County: $127,680
Essex & Union: $131,880
Your home’s purchase price must fall below these maximums?
Existing One-Family Homes:
Existing Two- to Four-Family Homes: $559,854
To qualify you must use a mortgage company that is registered with the New Jersey Housing and Finance agency. Contact me for a recommended list of approved local lenders to take advantage of this great program while funds are still available.
Keller Williams Realty "Red Day" and Texas Avenue School Sponsor Student Event.
Keller Williams Realty Atlantic Shore Team participates annually in the corporate Keller Williams’ Red Day. Red Day was designed to be a day that thousands of Keller Williams Realtors and staff in every state give back to their communities in a way that will have a drastic, positive impact on that community.
On May 11th, 2017, the agents of Keller Williams Realty Atlantic Shore Team partnered with Texas Avenue Public School in Atlantic City, NJ to help promote their anti-bullying program titled “Live the Pledge.” 100+ students participated with KW volunteers in a celebratory, fun-filled day. There was carnival games, a scavenger hunt, awards and a public dedication to the school presented by the KW team.
The local KW office also donated outdoor basketball and soccer equipment that the school was lacking. The challenge faced by all New Jersey schools is to create a positive and healthy school climate. The Anti-Harassment Intimidation and Bullying (H.I.B.) Bill of Rights goes beyond the requirements of providing a full investigation of alleged HIB incidents, consequences for those found in violation of the Bill of Rights and support for the children found to be a victim. Since the Bill of Rights in 2011, Texas Ave. School has implemented several school and community-wide programs that promote a positive school environment. Each program has given birth to the other. The inception of the Bucket Filling Philosophy, led to the “Take a Stand, Lend a Hand” initiative, which resulted in the current incentive program of “Live the Pledge.”
Keller Williams Realty is grateful to have partnered up with Texas Avenue school children who “Live the Pledge.” Their commitment of creating a positive climate for their classmates is truly inspiring.
It's back! $10,000 available for Atlantic County, NJ First Time Home Buyers
Good news! The Atlantic County, NJ grant program is now funded with grants available of up to $10,000 for first time home buyers! All funds are forgiven after 5 years. This programs does not work for everyone so I’ve outlined the key requirements below. You will need to be pre-qualified by an a approved mortgage company. My preferred lenders are on stand by to help qualify potential first time home buyers asap and get them qualified to receive the grant money.
Who have resided in Atlantic County for the last 12 months or are employed in Atlantic County.
Who have not owned a home for the last three years.
With acceptable credit history and the ability to obtain an approved mortgage.
With incomes below 80% of Median income:
These income levels are (2015):
# of Household Members
80% of Median Income
If you or someone you know may be eligible to qualify for this grant please call me for more details at 609-338-3773. Time is limited and funds are usually gone in a few months so please call me now. Matt
St. Paul’s United Methodist Church. Port Republic, NJ. By Ken Sooy Sr.
One of the largest and most popular areas of our region is Egg Harbor Township. I’d like to highlight some of the interesting market statistics derived from the multiple listing service to help home sellers and buyers in the area be aware of what is going on in the market.
This first chart shows the median for sale price and median sold price. We look at the February 2017 numbers and then go back to compare those number with a year ago. The median for sale price did not change. The median sold price went down by 14%.
Egg Harbor Township, Median for sale and sold price. Feb. 2017.
The second chart shows supply and demand by month for Egg Harbor Township. The red bar shows the supply of homes for sale and the green bar shows the number of homes sold. Supply is down by 2% and sold properties are up by 3%. This is good news for sellers. You have less competition and more homes selling than this time a year ago.
The last chart shows the average days on the market up by 17% to 88 days on the market. In this market as a seller you do not want to be average. Our goal is to sell your home during the peak “window of opportunity” the first 4-5 weeks a home comes on the market.
Who do you know looking to sell or buy a home? Please call me for a complementary consultation.
Supply and demand for Egg Harbor Township, NJ, Feb 2017
Average days on market for Egg Harbor Township, NJ Feb. 2017
Front porches and back patios have joined forces. The result is the emergence of the “front yard patio.”
A front yard patio is inviting, which might herald a reversal of a 70 year trend towards hiding out in our houses and entertaining only in our backyards. This condition was a direct result of the age of the automobile, when garages gradually crept to the front of the house at the expense of our porches.
For those of us with garage-dominated or porch-less facades, the front yard patio is a welcome feature—a decorative, as well as functional entertaining space that says, “Hello.”
Front patios can look like almost anything, and be constructed of any material that can be made weed-free and level, including brick, stone, gravel, or wood. They can be attached to the home, wrapped around the front door, or set off on their own. And they can be enhanced by such things as:
A fire pit or heat lamps.
A small side fountain.
Low shrubs or low walls.
Tea lights or lanterns.Front patios are more than simple functional changes in our space and lifestyle. They’re also a smart move for home sellers as they gain traction with buyers who see them as inviting and desirable features that add value to the house.
Most of us have experienced bouts of insomnia that make it difficult to get up in the morning. But for some people, waking up throughout the night is a continuous problem. Here are a few suggestions for improving your sleep and giving yourself more energy in the morning:
Shut off all electronics at least one hour before bed. Studies have shown that electronics keep the mind active longer than other forms of mental stimulation.
Do a sleep hygiene assessment on your home. Do you have blackout drapes? Are all LED and other small lights turned off or covered? Do you have a source of white noise, like a fan? Is your pillow and bedding comfortable? Do you need a new mattress?
First snow day of 2017
Exercise vigorously during the day, but not within two hours of bedtime. Take a walk after dinner to help with digestion, which can also keep you somewhat awake.
Don’t load up on carbohydrates at or after dinner. Digesting carbohydrates tends to spike the energy in your body.
Sit up and read a book in bed until you start to feel sleepy. Don’t push past the sleepiness. Instead, put the book down and turn off the light.