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 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.
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
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
I have several clients investing in real estate in this market. Prices are low inventory is high and it’s a great market to buy and hold. I also have investors looking to flip properties. I’ve put together some interesting statistics that should be helpful for people looking to invest in the Atlantic County, NJ real estate market.
Market statistics as of 12/22/16 For Atlantic County NJ
||Number of sales In 2016 Year to Date
||# of homes for sale
|Egg Harbor Twp
Sunset, Port Republic, NJ
This first chart shows some of the mainland areas, the number of homes sold and % of homes that sold. The highest % sold was Pleasantville at 15.43%. Pleasantville was followed by Northfield, Egg Harbor Township and Somers Point.
It’s also interesting to look at the number of sales in certain price ranges to see what price ranges have been selling the most. Homes in the $150,000-$200,000 are selling most followed by $200,000-$250,000.
||Number of sales by price point
*Includes these areas: Galloway, Absecon, Port Republic, Egg Harbor Twp,
Hamilton Twp, Somers Point, Northfield, Linwood
I also get asked frequently how long it’s taking to sell homes so I broke that out based on the number of bedrooms. Three bedroom homes are selling faster. This is most likely due to their lower price point.
||Average 71 days on market
||average 91 days on market
Now is a great time to buy, sell and invest in real estate in Atlantic County. Contact us for a free consultation to help you evaluate your opportunities in today’s market. Matt