Atlantic County First Time Home Buyer Grant Money Now Available – $10,000

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.

Eligible Applicants:

     HOUSEHOLDS

  1. Who have resided in Atlantic County for the last 12 months or are employed in Atlantic County.
  2. Who have not owned a home for the last  three years.
  3. With acceptable credit history and the ability to obtain an approved mortgage.
  4. With incomes below 80% of Median income:

These income levels are (2015):

                                                           # of Household  Members 80% of Median Income
1 Person. $37,600
2 Persons $43,000
3 Persons $48,350
4 Persons $53,700
5 Persons $58,000
6 Persons $62,300
7 Persons $66,600
8 Persons $70,900

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

Real Estate Market Update For Egg Harbor Township, NJ

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.

Best wishes,

Matt

Supply and demand for Egg Harbor Township, NJ, Feb 2017

Average days on market for Egg Harbor Township, NJ Feb. 2017

Add-On Front Patios

A New Home Trend Front Patios

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.

For more great tips and interesting articles download Matt’s Home News February edition here:  February Newsletter – Matt

Best wishes,

Matt

How to Wake Up Feeling More Refreshed

Matt's Home News January 2017

  • 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:

    1. 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.
    2. 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

    3. 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.
    4. Don’t load up on carbohydrates at or after dinner. Digesting carbohydrates tends to spike the energy in your body.
    5. 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.
  • For more great articles and fun facts download and view my January newsletter here.  January Newsletter – Matt

Market Statistics For Atlantic County, NJ 2016

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

City Number of sales In 2016 Year to Date # of homes for sale # sold/month % sold/month
Galloway 349 311 29.08 9.35%
Absecon 122 98 10.17 10.37%
Port Republic 9 7 0.75 10.71%
Egg Harbor Twp 548 362 45.67 12.62%
Hamilton Twp 278 219 23.17 10.58%
Somers Point 127 86 10.58 12.31%
Northfield 130 84 10.83 12.90%
Linwood 98 85 8.17 9.61%
Pleasantville 224 121 18.67 15.43%

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.

 

Sold Price Number of sales by price point
0-50k 94
50-100k 214
100-150k 307
150-200k 468
200-250k 350
250-300k 159
300-350k 56
350k-400k 33
400-450k 23
450-500k 16
500-550k 7
550+ 10

*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.

3 bedroom Average 71 days on market
4 bedroom 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

7 Quick, Easy Ways to Winterize

Winter is coming soon. Are you ready?

November is a great time to winterize your home in preparation for colder weather. Here

are a few quick, inexpensive tips for cutting your heating bills.

1. Use a draft snake. This device was adopted during the Great Depression, and is one of

the easiest ways to cut the cold. It’s a long sack filled with sand or kitty litter that you

can push into the crack under doors to stop drafts. You can buy a pre-made draft

snake, or make your own.

2. Change the direction of your ceiling fans. Heat rises, so pulling the heat down from the

ceiling will warm your room up fast.

3. If you used a window AC unit in the summer, remove it for winter. Warm air escapes

through the vents and the areas around the unit.

4. Service your heating unit and replace filters. An efficient heating unit will work better

and cost less to run.

5. Consider using window insulation film. This thin layer of film sticks right onto your

windows and adds up to 70% more heat retention.

6. Use a candle to detect subtle air leaks. Light a candle, then move it all around the edge

of your windows. If the flame wiggles in the breeze, then caulk that spot on the window.

7. If you have a fireplace, keep the flue closed when not in use to prevent heat from

escaping and cold air from working its way down into the house.

For more tips and articles view and download my November Newsletter:  november-newsletter-matt