Category Archives: Market Information

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Bring Your Business To Atlantic City, NJ!

Now may be the best time ever to do business in Atlantic City. Here's why...

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.enclave-ac

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.

Best wishes,

Matt

P.S. For additional incentive for Atlantic County visit Atlantic County Economic Development Site.

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What’s Your Home Worth in a Declining Market?

Here’s a quick note to let you know how I can help you—or anyone you feel comfortable introducing me to.

It’s no secret that parts of our area are experiencing declines in the real estate market. Home prices are not going up for many area.  Take a look at the charts showing the Mainland area real estate market (Galloway, Egg Harbor Township, Northfield, Pleasantville, Absecon, Port Republic, Egg Harbor City, Mullica Township, Hammonton, Linwood, Northfield, Somers Point, Beuna and Hamilton Township.)  A healthy real estate market depends on a balance of buyers and sellers being able to move in and out of the market.  Right now we are seeing a buyer’s market in the mainland communities.

CMM_Report_SupplyAndDemand_chart CMM_Report_UnitsExpired_chart CMM_Report_UnitsForSale_chart CMM_Report_UnitsSold_chart CMM_Report_SoldForSaleMedianPrice_chart For sellers, the implication is that they will need to price their homes more competitively. A competitive price will attract more interest than a higher price. In the end, the higher priced property usually sells for the same as the competitively priced home, but just takes longer to sell.

If you or someone you know is thinking about selling, contact me to get a price analysis to help plan your sale: 609-338-3773. Also ask for a copy of my free report, How Sellers Price Their Homes.

Matthew Haviland, Your Real Estate Consultant For Life Keller Williams Realty Atlantic Shore 609-484-9890 ext 132

P.S. Do you know someone else who’s thinking about selling their home? Please introduce us so that I can help them get the most money possible from the sale

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February 2015 Market Statistics, Ocean City, Longport, Margate, Brigantine, Linwood, Egg Harbor Township, Galloway, NJ

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.

median-pricenumber of salesinventory-sales

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.turnover ratio

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.

Best wishes,

Matt

*  Information based on MLS data as of 3/2/15

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FHA and USDA Mortgage Updates In Galloway and Egg Harbor Township, NJ

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!!!

USDA:

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:

Home For Sale

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

 Jim Malamut

Greentree Mortgage

NMLS#206095

Cell: 609-432-2829

Office: 609-646-5555

 

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Who’s Giving Home Buying Advice?

need-adviceHere’s a quick note to let you know how I can help you—or anyone you feel comfortable introducing me to.

When it comes to buying a house, everyone has an opinion. It doesn’t matter if they bought their home in the last century or have never even owned a home…once they hear you’re buying, they will tell you what to do and what to “watch out for.”

If you’re planning to buy a house, you’ll want to guard against allowing someone else’s trauma, drama, and bad decisions to make you second-guess your plans. As a real estate consultant, I encourage you to get a clear picture of what you want and why you want it, hold firm to your goal, and take courage from the fact that you’re in good company with other successful home buyers.

When you, a friend, family member, or neighbor decides to buy a home, contact me for help in formulating a plan. 609-338-3773 or matt@sjhouses.com. Ask me for my free report, How to Stop Spending Money on Rent and Own a Home Instead.

Matthew Haviland, Your Real Estate Consultant For Life Keller Williams Realty Atlantic Shore 609-484-9890 ext 132

P.S. Who do you know who needs to speak with a real estate consultant about the process of buying a home? Please let them know I’m an excellent guide.

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‘Tis The Season To Be…Moving

Dear Friend,

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.”

Matthew Haviland
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.

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The Fairways, Mays Landing NJ 55+ Golf Course Community Market Update

fairways-signIt’s a great time to buy a second home at the shore or downsize and enjoy the amenities and convinces of some of our wonderful 55+ communities. One community that has been hot is The Fairways in Mays Landing.

This is a golf course community and in a great convenient location close to shopping, restaurants, Hamilton Mall, Atlantic City and Ocean City.

Most homes are selling for around $100,000 so it is affordable and the maintenance fees include taxes.

Since December 20th Our Office Has Sold The Following Properties. Note: this is a complete list of sales according to our MLS.
213 Burning Tree Court Sold price $240,000 (BHHS Fox and Roach Listing Agent) 12/20/13
56 Knollwood Dr Sold price $92,500 12/22/13
63 Oakmont Dr Sold price $95,000 1/19/14

I partner with one of the leading websites for 55 and over homes in the country. Currently I have 19 prospects looking for homes in The Fairways. If you or someone you know is thinking about selling their home in The Fairways please contact me immediately. We are clearly leading the way in helping people move in and out of The Fairways.

Best wishes,

Matt
609-338-3773

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Great News For Home Buyers In Galloway Township, Egg Harbor Township, and Hamilton Township, NJ

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Congress Extends Rural Definition Until September 30th, 2013.  This means that home buyers in Galloway, Egg Harbor Township, and Hamilton Township can continue to buy homes with Zero Down Payment and low fixed rate 30 year home loans through USDA.  This has been a very popular loan program allowing home buyers to purchase with no down payment.  Interest rates are also low and fees are low allowing for low monthly payments.

This morning, Congress passed an FY13 Continuing Resolution (CR) to keep the government funded loan program through the end of the fiscal year. The CR includes a specific provision that extends eligibility for all rural communities that are currently eligible until September 30, 2013.

This gives rural advocates more time to build cosponsors for H.R. 858, the Rural Housing Preservation Act. So, please remember to ask your Representatives to cosponsor this bill to ensure that more than 900 rural communities can remain eligible for USDA Rural Housing programs.

If you would like more information on home loan options call for a FREE RECORDED MESSAGE:  (888) 856-3579 ext. 1

Best wishes,

Matthew Haviland

Your friend in the real estate business who can help the people you love.

 

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Now Is The Best Time To Buy A Home At The Beach!

Top 5 Reasons To Buy A Home, Second Home, Or Investment Property at the South Jersey shore:Photo of Margate, NJ beach in January by Kim Porto

1.  Take advantage of lower home prices.
2.  Extremely low interest rates makes buying a home more affordable.
3.  Foreclosure properties including bank owned and short sale properties at up to 40% below market value.
4.  Long term appreciation.
5.  Make money now through rental income.

FOR MORE INFORMATION CALL:
Matthew Haviland at 609-338-3773.