Here’s what’s happening in the Ocean City, NJ real estate market:
Average sales price of $588,770 has gone down by 1% compared to the 3rd quarter of 2015 and down 1% from 4th quarter of 2014. Median sales price of $481,000 is down 7% compared to the 3rd quarter and 1% down from 2014. Sales volume of 222 units sold is down 7% from the 3rd quarter and up 2% from 2014. Days on market has gone up also to 128 days on market.
Right now is a great opportunity to buy sell and invest in Ocean City. Please contact me for more information on Ocean City, NJ real estate. Matt
Market Report For Ocean City, NJ 4th quarter 2015.
Here’s a quick note to let you know how I can help you or the person you feel
comfortable introducing me to.
Just like an annual physical, it’s important to do an “Annual Home Review.”
Your home may be your biggest investment so it’s critical to keep up-to-date on the
answers to these five crucial questions:
1. What homes near you have sold, and how does this impact you today?
2. What new tax laws give you deductions or credits on home improvements?
3. What’s happening in your neighborhood that will impact the value of your home?
4. What changes have occurred in your life that alter your goals for the next 5 years?
5. What’s occurring with your current mortgage? What changes could benefit you?
The next time you are in a conversation with a friend, family member or
neighbor who is talking about their home’s value, remember the future belongs to
those who prepare, and I am prepared to help you and the people you care about. Call
or text and we’ll start right away. Together we’ll make the future better than ever!
Matthew Haviland, Your Real Estate Consultant For Life
Keller Williams Realty Atlantic Shore 609-484-9890 ext 132
272 Deerfield Drive Mays Landing, NJ 08330
Here is a quick note to let you know how I can help you or the person you feel comfortable introducing me to.
The other day I was reading a story that said the storage industry is an 8.8 billion dollar business. It’s no wonder, when you consider how much time we spend looking for lost objects. The average person spends 6 minutes a day looking for car keys! IKEA reports the top 4 items men search for are clean socks, keys, wallet, and remote control. Women search for shoes, a child’s toy, wallet, and remote control. It occurred to me that a home is never more organized than just before and after a move. While it is seldom easy to move, very few things feel better than starting over again with the right amount of space. The next time you are in a conversation with a friend, family member or neighbor and you notice they would benefit from having the right amount of rooms and space to enjoy an organized home…then stop, take out your phone, look up my number and call or text me. Together we’ll make sure they get the best advice for the space they need.
These statistics compare our Keller Williams Realty Atlantic Shore office with the rest of the Multiple Listing Service in the Atlantic County, NJ area. As you can see we out perform the rest of the market. We have exceeded the rest of the market in the number of transaction for buyers and sellers and sales dollar volume.
The questions is why? And there are many reasons to explain this. One is that we are an agent centered company. We have a culture. We are the largest real estate franchise in the world in agent count. We are the number one training organization among all industries. Our local leadership team truly cares about helping people reach their dreams and have businesses worth owning and lives worth living.
Who do you know, right now, that would benefit from working with our company? While others agents are struggling, we are thriving. And it’s important that you know that I have time to help your friends, family members, and neighbors that you know and like that need help. Please call me at 609-338-3773 and we can talk about how I can help.
You may have heard recently about the casino closures, property tax hikes, and other issues effecting Atlantic City. In my opinion I don’t see new casino’s coming to Atlantic City to solve the cities woes. I do see a great opportunity for businesses to move to Atlantic City or start in Atlantic City. There are excellent incentives to bring businesses and development to the city.
You may have heard about the call center that launched in Atlantic City. The company was approved for $33,000,000 in tax credits! The company plans to hire over 300 people and will recieve $3.27 million per year in tax credits over a 10-year period through the Grow New Jersey Assistance Program. Through this program businesses that are creating or retaining jobs in New Jersey may be eligible for tax credits ranging from $500 to $5,000 per job, per year; with bonus credits ranging from $250 to $3,000 per job, per year.
The other fantastic incentive program is the Economic Redevelopment and Growth (ERG) Program. This also run by the NJ Economic Development Authority. For residential projects: Tax credit of up to 20% of total project cost with 10% bonus possible if the project constructs and reserves at least 10% of the residential units for moderate income housing. And for commercial projects: Incentive grant reimbursement of up to 20% of total project cost. Because Atlantic City is located in one of the five Garden State Growth Zones there is up to an additional 20% in incentives. Imagine building a brand new building or development and getting up to 40% of the cost back in tax incentives!
So besides the incentives there are a few other reasons to bring your business to Atlantic City. We have an ample work force of good hard working people. You’ll have no problem hiring great talent in Atlantic City. Also the location is fantastic. We have fabulous beaches, world class restaurants, shopping, entertainment, and recreation. We’re also one hour from Philadelphia and two hours from New York City.
This is clearly the best time to bring your business to Atlantic City. If you or someone you know is considering starting or expanding their business please contact me. I’d love to connect them with the resources they need to take advantage of the opportunities right now in Atlantic City commercial real estate.
P.S. For additional incentive for Atlantic County visit Atlantic County Economic Development Site.
Spring is hopefully right around the corner. I wanted to take a moment and look at last month’s sales data and update you on what’s happening in the market. With this update I am comparing a few statistics among different municipalities: Ocean City, Longport, Margate, Brigantine, Linwood, Egg Harbor Township, and Galloway, NJ.
As you can see sales, inventory and price varies greatly among each or these communities. The turnover ratio shows the percentage of homes selling in each city. The higher the percentage the more homes are selling each month.
The most commonly asked question I get is: “How’s The Market.” Experience shows it all depends on where you live. If you’d like to know How the market is in your neighborhood I’d love to do some research for you and send you an email that will tell you what homes are for sale now, what homes have sold recently and how long homes are taking to sell in your neighborhood so you can feel secure in the knowledge that you have the most accurate information. This timely information will tell you right away how your market is right now! I imagine that information would be of value to you, would it not?
Please contact me if you’d like to know what’s happening in your market. 609-338-3773.
* Information based on MLS data as of 3/2/15
FHA will be lowering their mortgage insurance starting today, 1/26. The monthly mortgage insurance will drop from 1.35% to .85%. This will help bring FHA’s monthly insurance more in-line with USDA and Conventional mortgage insurance. FHA is still the #1 first time homebuyers program as it still only requires 3.5% down, and we require only a 580 credit score. Some good news at least, especially with USDA going away in certain areas. FHA is not the end of the world and is a great loan program!!!
I have just received word that as of February 2nd, 2015, USDA is officially changing its maps. For Atlantic County, it will make EHT ineligible and parts of Galloway (closer to Absecon). Feel free to call me with any questions about this:
Egg Harbor City Is Eligible For FHA and USDA Financing
Thus, the ineligible area maps based on the above classifications will be effective on February 2, 2015. The changes will be those already published on the “Future Eligible Areas” maps posted on the Eligibility Website; http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
Here’s a quick note to let you know how I can help you or anyone you feel comfortable introducing me to.
Spring is upon us, and regardless of what’s going on in the economy that means it’s moving time. School is ending. Vacation time is coming. The weather is nicer. It’s generally just a good time to get out and look at homes.
So, the next time you’re in a conversation with a friend, family member or neighbor and they mention that they are thinking of buying a new home, take out your cell phone, look up my number 609-338-3773 and call me immediately. I’ll send you a certificate to give them a free subscription to my HomeFinder Newsletter, packed with valuable home-buying tips such as “How Do Sellers Price Their Homes And How Much Should I Offer?” and “Six Signs That Could Mean Expensive (Hidden) Trouble.”
Your Real Estate Consultant For Life Keller Williams Realty Atlantic Shore 609-484-9890 ext 132
P.S. Every home buyer should know about the six signs that could mean expensive trouble. Be sure to give me a call the next time someone you know is talking about buying a home and we can help them avoid some expensive mistakes.