You may have noticed an increase in commercial real estate activity recently. New businesses are opening, and moving to larger locations. In this post I’m going to focus in on a few moves.
The Black Horse Pike area of Egg Harbor Township and Mays Landing has seen many new activities. New businesses have moved into the Wal Mart shopping center in Egg Harbor Township. Along the English Creek area a new Dunkin Donuts drive through opened and Mavis Discount Tire. In Mays Landing a new strip mall center opened with a new Starbucks drive through and Sleep Number Store. Across the street from that is the new Outback Steak House.
Earlier this month JC Penny Officially closed it’s doors at the Hamilton Mall location in Mays Landing. This leaves the mall without two anchor stores. Sears also closed last year. Burlington Coat Factory is moving its location from Harbor Square in Egg Harbor Township to Consumer Square in Mays Landing.
One of my favorite restaurants Nizam’s also moved it’s location recently to a larger and nicer location in front of Harbor Square. If you are a business owner there are many opportunities in Atlantic County to start and grow a business here. Contact us for a no obligation consultation.
I often get asked when is the best time to buy a house. And the answer often depends on your circumstances, goals, and needs. However in this article I post 3 reasons to buy a house now in Egg Harbor Township, NJ.
- Interest rates are low. Interest rates are now at about 3.92%. This is a historically low rate. If rates go up that will decrease the loan amount that a buyer can afford.
- Inventory is good but shrinking. Inventory is down in many of the neighborhoods of Egg Harbor Township. Lower inventory can cause home prices to increase. Several communities are experiencing price increases. It’s better to buy now before prices continue to increase.
- Newer inventory of homes for sale. At the peak of the real estate market Egg Harbor Township was a new construction boom town. Many developments were built at that time. There typically is a good inventory of homes for sale that are built in the 90s and 2000s. If you’re looking for a newer home Egg Harbor Township is a great choice. There are also developers building brand new homes.
Bonus: If you have kids buy now to get your children into the school system in time for the new school year. Egg Harbor Township High School has an A rating.
I just listed this fantastic house in Egg Harbor Township, NJ. 2 Cary Ct is a lovely home on cul-de-sac location and large .4 acre wooded lot. This home features 4 bedrooms and 2 bathrooms. There is a living room, dining room and eat in kitchen. The 2nd bedroom on the first floor has been converted to a family room and can be converted back to a bedroom giving you two bedrooms on the first floor.
The second floor has two bedrooms and a full bath. There is a large rear deck and fantastic private fenced back yard. New paint and carpet. Roof was replaced 10 years ago and HVAC replaced 5 years ago. Move in ready. Contact us for more details.
South Jersey is famous for it’s fabulous beaches yet one thing you may now know is that this area is also a great for golf. Right now the Shoprite LPGA classic is taking place in Galloway at Seaview Country Club. This tournament brings the top women golfers to this beautiful bay front golf course.
There are also other fantastic bay front golf courses like the Atlantic City Country Club in Northfield and Linwood Country Club offering incredible views. Just outside of Ocean City in Somers Point there is Great Bay Country Club.
There are also several beautiful courses nestled in the Pinelands such as Blue Heron Pines in Galloway and Mays Landing Country club. Egg Harbor Township has five great courses: Harbor Pines, McCulloughs, Ballamor, Twisted Dunes and the amazing private course called Hidden Creek.
If your not a golfer you can learn from professional instructors at the courses. Our personal favorite is New Jersey Golf Academy. So for great golf consider Atlantic County in South Jersey. And if you’ve ever dreamed of living on the Golf Course we have several great golf communities like Blue Heron Pines, Harbor Pines and The Fairways. Contact us for more details.
Buying a vacation home at the Jersey shore may seem out of reach for most people. Typical beach homes range in the $400,000 range and up. However it is possible to purchase something much less and and actually keep the price under $200,000. Here are 3 ways to purchase a NJ shore beach home for less than $200,000.
Choose a location further from the beach.
Many of our shore town have areas that are further from the beach. These sections typically have more year round residents and more affordable prices. For example, I recently listed this ranch home in Ventnor Heights that was raised and renovated and is currently priced at $190,000. Click here for details on the house.
Choose An Up And Coming Area
Not all shore towns are priced the same and if you’re looking to spend less choose an up and coming area like Atlantic City. Prices for many homes and condos are under $200,000. There are some great locations in Atlantic City and some not so great locations. Choose a local agent who can help you find the right location and home.
Look For A Home Off Shore
If you’re willing to take a short drive you can get more house for the money off shore. Communities like Somers Point are just a 5 minute drive into Ocean City. Absecon is just 5 minutes from Atlantic City and 10 minutes to Brigantine. And if you’re will to drive a little further communities like Egg Harbor Township, Linwood, Northfield and Galloway are within a 20 minute drive to the beaches.
If you’re considering purchasing a shore home or investment please contact us for a free consultation. No matter what your budget is we’re here to help.
Here’s an update on the trends in the Egg Harbor Township, NJ real estate market. This chart compares February 2019 with February 2018. New listings were down 12.8%. Closed sales were also down slightly from 36 units to 33 units. Days on Market decreased to 70 days. Median Sales Price went up to $184,000. Up 1.4% from the previous year. Percentage of list price received also went up to 98.2% of list price.
To interpret this it means that inventory is down and prices are up slightly. This means we are moving slowly from a buyer’s market toward a seller’s market. If you are thinking about selling your Egg Harbor Township home it may be a good time to consider selling now. Also, If you’ve been waiting to buy a home now is a great time to buy before prices continue to increase. I’f you’re considering buying or selling a home in Egg Harbor Township please contact us for a free consultation.
Read this first before making one of these 3 critical mistakes seller’s make when selling their Egg Harbor Township, NJ home.
- Over price the home! This may seem like a no brainer but many home sellers will over price their home thinking they will net more money. In fact overpricing your home can actually lead to netting less than if you priced it right from the beginning. Most home sellers will overprice their homes for the following reasons:
- Bad information. They may have inaccurate information on what their home is worth.
- Room for negotiations. Sellers may price the home high expecting to get a lower offer. However if the home is priced too high you won’t get any offers
- Net proceeds. Some sellers will price the home based on what they need to net rather than what the home is worth.
- Prepare the home to be sold. Home staging works to help the house show like a model home. If the house is messy or cluttered or dirty it will not show well and may turn off buyers completely. Preparing your home to be sold helps your Egg Harbor Township home sell faster and for more money. We offer our clients a Room By Room Home Staging Checklist to help them prepare the home to be sold. We also work with professional home stagers that can provide services to home owners and even furnish and decorate vacant homes.
- Bad photography. It’s amazing how many homes I see for sale online with horrible photos. There are blurry pictures, dark pictures, pictures with the home owner in them etc. Most home buyers start their search on the internet and pictures are the first impression. You only get one chance to make a great first impression. Make sure you have great photos and use a professional photographer.
I hope this list helps you as you prepare to sell your Egg Harbor Township, NJ home. Contact us for a free consultation so we can help you net more money and have a faster sale. Best wishes, Matt
- Talk with agents’ recent clients. Ask for a list of past clients and references from the agent your considering. Check for online testimonials and reviews.
- Check for license and disciplinary actions. You can look up agent’s NJ license numbers here: https://www20.state.nj.us/DOBI_LicSearch/recSearch.jsp
- Ask about professional awards. NJ agents receive the Circle Of Excellence Award. If the agent hasn’t earned this award in the past year they are most likely not a full time agent and have not done an exceptional volume of business. My dad and I have consistently earned this award. Last year we earned the silver and bronze awards.
- Select the right broker. The company does matter. Keller Williams Realty is the #1 selling broker in Egg Harbor Township, NJ with 263 units sold last year.
- Find out how experienced an agent is. Ask for the number of transactions the agent has had over the past year. Combined The Haviland Group had 67+ transitions sides and over $12 million in sales volume in 2018.
- Look at the agent’s current listings and sold listings. Does the agent have listings for sale in Egg Harbor Township and how many sold in the last year? Last year we sold 14 homes in Egg Harbor Township.
- Gauge the agent’s knowledge of the area. Egg Harbor Township is a unique location. It’s a large township with everything from waterfront homes, farm properties, developments, 55 and over communities and golf course properties. Each section of the township is different and you need an agent that understands this.
If you need an agent to help you sell your Egg Harbor Township home contact us now for a free consultation.
Recently I met with a few seller clients that wanted advice on selling their unique homes. In Egg Harbor Township there are many developments where the houses are very similar and it’s very easy to determine market value. There are also many unique homes and properties that may be difficult to find any homes to compare with them. In the township there are waterfront homes, farm properties, historic homes and interesting mixed use properties. So how do you sell a unique property that’s not your typical cookie cutter home?
- First I like to take a look at what the highest and best use for the property would be. Is it on a large piece of land? Could it be subdivided?
- Then I like to look at who the potential buyer would be. Are their attributes of the home or property that would appeal to certain buyers? Is it in a waterfront location or close to parks and recreation. Determining the likely buyer can also help determine how they may position the value of the home.
- Look for similar properties. Do the best to find similar homes even if they are in another city nearby.
- I also like to help my clients evaluate if there are upgrades or improvements to the property that could be done to significantly improve the value of the property.
- Another option is to have an appraisal done on the property. This will help give you an idea of how the appraiser would determine value and then price the property close to the appraised value.
If you or someone you know has a unique property and you need help determining the value. Contact me for a free consultation. Best wishes, Matt