Here is the latest update for the real estate market for Mays Landing, Hamilton Township, NJ Atlantic County
So first let me say that this update is for Hamilton Township (AKA Mays Landing), Atlantic County, NJ. There are two Hamilton Townships in NJ so if you are looking for Atlantic County in South Jersey you’ve come to the right place! Mays Landing is located about 20 minutes east of Atlantic City and Ocean City. Mays Landing is also the regional shopping and retail hub of the county and home to The Hamilton Mall and many other strip centers and chain restaurants.
Here is an update for the Hamilton Township real estate market. New listings were down slightly for December. Closed sales were up. Days on market was down to just 63 days. The median sales price was lower for the month however it is up 14% year to date to a median sales price of $173,250.
This report also takes a look at condos and townhomes in Mays Landing. New listings were down for the month and median sales price is up 21%. Monthly supply of inventory is up slightly to 6 months.
If you or someone you know is thinking of buying or selling real estate in Mays Landing please let us know. We can help them analyze the real estate market in their neighborhood to see if this is a good time to buy or sell for them.
In this video I answer one of the most common questions I get. Should I wait until Spring to buy or sell a home.
Short sales are one option property owners who need to let go of their real estate can look into. These types of sales are where an owner works with their lender to sell the property as quickly as possible at a lower price than what’s owed, with the goal of helping the lender recoup as much as they can on the loss of a property, while allowing the owner to get out from underneath a financial burden.
Can a Short Sale Apply to a Commercial Property?
Short sales are not something to be entered into lightly. They do provide a way to deal with a property which is underwater or valued at less than what is owed should financial strife be an issue preventing an owner from continuing to make their mortgage payments. The housing crisis of 2008 led to many homeowners opting for a short sale over foreclosure. Can a short sale apply to a commercial property?
The answer is yes, you can seek a short sale of your commercial property. You do need to show proof of hardship, reflecting why you are no longer able to pay the mortgage on the property. Just as with a residential property, if a commercial property owner isn’t able to meet the payments, provided you can market the property at its current value, a short sale can be an option over foreclosure.
Being able to get at or close to the current market value of the property is key to getting lender approval and acceptance of a short sale; they want to recoup as much as they can after all. There’s one critical thing to keep in mind as a commercial property owner vs a residential owner however. It’s possible that your lender is more likely to take you to court for the remaining balance through seeking a Deficiency Judgment. This tends to be more prevalent with commercial properties compared to residential ones.
A Deficiency Judgment lawsuit can occur after a short sale and is an option for lenders to attempt to recoup more of the original loan. This is not to say it will happen, but it’s important if you’re considering a short sale on your commercial property that this could occur. Our goal in successful short sale negotiation is to have any deficiency forgiven.
If you’re facing financial distress and own commercial property, a short sale is one option to consider. Learn more about this and other options by contacting us.
When it’s time to sell or buy property, working with an experienced Realtor® who understands the local real estate market will make the process easier. I’m here and ready to get the conversation started with you. Call me today at 609-338-3773 or send me an e-mail. Myself and my team at The Haviland Group and Keller Williams Realty are ready to share our expertise and care for all your real estate needs.
Choosing a short sale when facing foreclosure can make the best of a bad situation.
A few months ago I got a call from Susan. She got my name online as a short sale expert and called me desiring to sell her home in a short sale in Egg Harbor Township, NJ. She was behind in her payments and did not want to keep the home because she was relocating. I listed the home for sale and found a great buyer looking to purchase the home for his children.
Short Sale in Egg Harbor Township, NJ
These happy home buyers purchased a short sale foreclosure property through me.
We received short sale approval and were able to sell the house so Susan could avoid foreclosure. We were also able to get her a relocation incentive of $3,000. The new buyers were able to get a great deal and are happy with their new home. If you or someone you know is facing foreclosure or considering a short sale in Egg Harbor Township, NJ or anywhere else, please call me at 609-338-3773 or visit my foreclosure help center. Best wishes, Matt
For privacy seller’s name has been changed in this post.
If you would like more information on short sales or forclosures please use the form below and contact me. I will get back to you ASAP!
Why wait until the Spring? There is less competition right now!
Many people always think of the Spring as the best time to sell and buy a home. That typically is when we have the most activity in our market however that doesn’t mean it’s always the best time to sell. Right now we are on the tail end of winter. We have some cold nights and the occasional snow storm and overall the weather is not bad. Buyers are out now shopping for homes. Listing and selling your home now means that your home will competing agains fewer homes for sale. Fewer homes for sale means you may be able to get a better price for your home.
March 2, 2018 Winter storm. Ocean City, NJ
Some of our communities are experiencing an all time low in inventory of homes available. The answer to the questions of when should I sell my house is it depends. It depends on your circumstances, your plans, your neighborhood and your house. There are many factors to consider and I’m here to help you. Contact me for a free consultation to determine when the best time to sell would be for you.
Your house can be sold while in foreclosure without going to sheriff sale.
Recently past client’s of mine came in to my office. They received notification from their bank that the home was sold and they need to get out of the house. They had been behind on their mortgage payments and had attempted to work out a modification but it was not successful. Their house was located in Atlantic County in southern NJ.
Normally, in our county the foreclosures run through the sheriff’s office and usually the owner of the house is notified of the sale and can even postpone the sale for at least a month. However in this case the house was sold to an investor and the deed was recorded with the county clerks office. I advised that my client’s seek legal advice since there was little I could do to help at this point.
If you or someone you know is facing foreclosure contact me immediately. I’m here to help home owners keep their home when possible or avoid foreclosure through a short sale. Contact me for a private complementary consultation.
P.S. If you or someone you know is facing the stress of foreclosure and not knowing if you will still have a roof over your head contact me for help and options.
11 Reasons Sellers Should List During the Holiday Season
We made it past Thanksgiving and now December will be over before we know it. Many home seller chose to pull their homes off the market this time of year and wait until Spring to sell. Here are 11 reasons sellers should list during the Holiday Season.
11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low.
10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.
9. Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the Holidays.
8. January is traditionally the month for employees to begin new jobs. Since transfers cannot wait until Spring to buy, you need to be on the market during the Holidays to capture the market.
7. Some people must buy before the end of the year for tax reasons.
6. Buyers have more time to look for a home during the Holidays than they do during a work week.
5. Buyers are more emotional during the Holidays, so they are more likely to pay your price.
4. Houses show better when decorated for the Holidays.
3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home. Less demand means more money for you.
2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you.
And the number one reason why your seller should list during the Holidays …
1. People who look for homes during the Holidays are more serious buyers!
The new sales leader in Egg Harbor Township NJ is Keller Williams Realty Atlantic Shore with the highest year to date units and sales volume.
Recently one of our competitors has been advertising as the Egg Harbor Township, NJ real estate sales leader. I questioned whether this was true and discovered that at one time they were the sales leader however year to date real numbers show that Keller Williams Realty Atlantic Shore is number one in sales volume and sales units. I have included some charts and graphs to show this. These are real numbers taken from the South Jersey Shore Regional Multiple Listing Service.
Keller Williams Realty Atlantic Shore units sold in Egg Harbor Township increased 73.68% as of September 21st 2017 compared to year to date numbers from 2016. 165 units have been sold year to date and our next closest competitor sold 131 units. Units sold is the number one indicator of who the sales leader is in a community and we are dominating that category.
Keller Williams Realty Atlantic Shore sales volume increased 53.96% as of September 1st 2017 compared to year to date numbers from 2016. Year to date sales volume for 2017 is $24,814,297.00 making it number one. Keller Williams Realty Atlantic Shore is number one in market share also with 16.6% market share based on units sold. So the new sales leader is Keller Williams Realty Atlantic Shore and we have the data to prove it. If you are looking to buy, sell or invest in real estate in Egg Harbor Township, NJ I’m your local home town real estate consultant and I’m happy to help. Call me at 609-484-9890 ext 132 or send me a message on this site.
Best wishes, Matt
P.S. Here are the actual sales numbers taken from our multiple listing service showing how we stack up against the competition.
What's happening in the real estate market September update
Houses for sale in Egg Harbor Township New Jersey
Here’s a quick overview of what’s happening in the real estate market in Egg Harbor Township. Median sold price is down 6% to $190,000. The median for sale price is up 2% and sold properties are down 2%. New properties are down 9% and total inventory is down 19%.
So even with lower inventories prices are still down overall. My interpretation of these statistics indicate that the foreclosure properties that are still on the market are continuing to pull prices down. At the same time some of the communities in Egg Harbor Township are very short on inventory and so there is a great possibility of price appreciation. Contact me if you’d like to know how much your home is worth in today’s market. To view full statistics for August 2017 Egg Harbor Township real estate click here: egg-harbor-township-market-stats
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