Dear home sellers, Please view the attached market statistics.

As you can see prices are still falling. The average priced home last year lost $30,000 in value for the year. Home prices are continuing to decline about $100 a day.

The main factor in determining price is supply and demand. Supply and demand is based on our local economy. In Atlantic County our economy is dependent on the Casino industry. You are probably aware of the many layoffs that have taken place over the last few years. In fact our unemployment rate in Atlantic County is 13%. We are faring worse than the national unemployment of 9%.

If people are loosing jobs they can’t afford to buy homes. Even those who are still working at casinos are facing less pay due to the lower tips they are receiving. Our bad economy is the main reason prices continue to fall.

Here are some reasons to sell right now:

The never before offered $8,000 tax credit for first time home buyers and $6,500 tax credit for home owners when they purchase home is 49 days away from expiring. (Buyers must be under contract by April 30th.) Most buyers will buy in the next 49 days and demand should decline after the end of April.

Interest rates have been at historic lows because the government has been purchasing mortgage backed securities. At the end of March they will stop this practice and the securities will be sold at market price. For every one percent increase in rate the price will the purchasing power for buyers will drop 10%. So if a buyer can afford a $200,000 home at 5% interest rate and the rates go to 6% they can only afford $180,000.

Also the other coming threat is more bank owned homes and short sales coming on the market. We still have not seen the next wave of foreclosed homes hit the market. Maybe you’ve noticed homes in the area that have been sitting vacant for months or even years. Banks are so backed up that it is often taking 2 years to foreclose on them.

So the bottom line is things are going to get worse and not get better for a very long time. The question you need to ask yourself is do you really need to sell the home in the next 5 to 6 years? If your answer is yes then we need to aggressively position your home to sell now and for top dollar. If not then perhaps it’s better to stay in the home until the prices rise again in the next 10 to 14 years.

If you need to sell your home now.  Contact me now at 609-484-9890 ext 132.

Best wishes,

Matthew Haviland

The Haviland Group

Private sellers and investors can now sell their property to FHA buyers whithout having to wait 90 days.

This is good news for investors who are looking to purchase and flip properties quickly.

Contact me for further details and restrictions.

Also, we work with investors and will help them analize a proeprty before they buy it.  If you are interested in investing in real estate please call me at 609-484-9890 ext. 132.

Best wishes,

Matt

Here are a few properties that are great buys. Please feel free to forward this email to anyone who might be interested. Reply back or call if you are interested in any of the properties. Contact us asap before these deals are gone.

Egg Harbor Township, NJ – $97,900: 2 bedroom, 1 bathroom, on 1 acre. BANK OWNED

Egg Harbor City, NJ – $59,500 2 bedroom, 1 bath, basement. BANK OWNED

Galloway, NJ – $200,000 3 bedroom, 2.5 bath, full basement, garage, built in 2005. BANK OWNED

Contact me or call 609-484-9890 ext 132 to get these properties before they are gone.

Matt

Here are a few properties that are great buys. Please feel free to forward this email to anyone who might be interested. Reply back or call if you are interested in any of the properties. Contact us asap before these deals are gone.

Egg Harbor Township, NJ – $97,900: 2 bedroom, 1 bathroom, on 1 acre. BANK OWNED

Egg Harbor City, NJ – $59,500 2 bedroom, 1 bath, basement. BANK OWNED

Galloway, NJ – $200,000 3 bedroom, 2.5 bath, full basement, garage, built in 2005. BANK OWNED

Contact me or call 609-484-9890 ext 132 to get these properties before they are gone.

Matt

I’ve been getting so many calls and email regarding my previous posts about the grant program I thought I would compile the information on my previous posts into one blog entry… Of course if you have any additional questions contact me.

The Atlantic County Grant Program for first time home buyers has money available now.  This is a great program for first time home buyers in Atlantic County, NJ. 

The grant through The Atlantic County Improvement Authority (ACIA) provides up to $20,000 for first time home buyers to cover down payment and closing costs.  First time home buyers are buyers who have not owned a primary residence in the last three years.

Here is a list of communities that qualify for the grant money:

Galloway, NJ

Absecon, NJ

Egg Harbor City, NJ

Pleasantville, NJ

Mullica Township, NJ

Hammonton, NJ

Egg Harbor Township, NJ

Hamilton Township, Mays Landing, NJ

Northfield, NJ

Linwood, NJ

Somers Point, NJ

Brigantine, NJ

Ventnor, NJ

Margate, NJ

Longport, NJ

Estell Manor, NJ

Beuna, NJ

*Atlantic City, NJ Has a seperate grant program with up to $30,000 in grant money.

To Qualify For The First Time Home Buyer Grant You Must:

* Have resided in Atlantic County for the last 12 months or are employed in Atlantic County * Have not owned a home in the last three years.

* Have acceptable credit history and be able to obtain a mortgage.

* Have incomes below 80% of median income (effective February 13th, 2009)

Number of household members:               80% of Median income

               1                                                $38,300

               2                                                $43,750

               3                                                $49,250

               4                                                $54,700

               5                                                $59,100

               6                                                $63,450

               7                                                $67,850

               8                                                $72,200

* Please note the median income amounts are based on the 2008 numbers.  I’m waiting to get updated 2010 numbers and will update this post when I receive them.

Eligible Properties:

1. Single family residences in Atlantic County excluding Atlantic City.

2. Sale price can’t exceed $200,000.

3. Property must meet all requirements for an approved mortgage.

The program is designed to help pay closing costs and down payment up to $20,000. These funds will be forgiven after 5 or 10 years. Funds are limited and may not be guaranteed if funds are low.

If you or someone you know would like to take advantage of this opportunity before the money is gone. Please contact me immediately at 609-484-9890 ext. 132.

Best wishes,

Matt

Your Trusted Real Estate Expert For Life

Many of our friends and clients have asked us if there are there any good deals out there in the market.  The answer is yes!  Here are a few properties this month that are great buys.  Please feel free to forward this post to anyone who might be interested.  Reply back or call if you are interested in any of the properties.  Contact us asap before these deals are gone.

Northfield – $139,000:  3 bedroom, 2 bath with basement.  Not yet listed contact us to be the first to see it.

Egg Harbor Township – $189,900: 4 bedroom, 2 bathroom, 4 years old on 1 acre.

Mays Landing – $209,900: 4 bedroom, 2.5 bath, 2 car garage, full basement.

Egg Harbor City – $59,900 2 bedroom, 1 bath, basement, walk up attic.

Best wishes,

Matt

I just put together some information for one of my clients and I would like to share it with everyone.  Here is the link to the market statistics for Pleasantville, NJ 2008 to 2009.  

If you open the link you can see information highlighted for 3 and 4 bedroom homes.  Also there are details broken out in the worksheet for all single family homes and condominiums in Pleasantville.

The statistics for Pleasantville mirror the statistics of Atlantic County and the Atlantic City area.  We see an increased number of homes sold and a decrease in price.

Here’s my take on what is happening in the market.  First of all our economy is not good with unemployment around 12.5% in Atlantic County.  The main employer in the area is the Casino industry.  Tough economic times and increasing competition from other casinos (many in Pennsylvania) have put a hurting on the casinos.  Many people have lost their jobs.  Things may get better or may not get any better with the casinos.

Our tough economy has led to many distressed sales, short sales and bank owned properties.  This had helped put downward pressure on prices.  Financing has been and will increasingly be more difficult to obtain.  This shrinks the pool of potential buyers and limits what the buyers can afford to pay. 

So prices are dropping but sales are up.  Sales are up because it is a great time to buy.  With tax credits for home buyers, grant programs for first time home buyers, very low interest rates, and dropping prices – I call this the perfect storm for home buyers.

For savvy home buyers and sellers my advice is to take advantage of the opportunity right now in the next few months.  Do not delay or you will regret it.

Of course my team and I are here to guide you through this opportunistic market.  You can call me with any questions at 609-484-9890 ext. 132.

Best wishes,

Matt

Matthew Haviland, Your Trusted Real Estate Expert For Life.

Last night my wife and I saw the best Christmas light show!  It was by far better than anything I’ve ever seen… even the house you see on TV for the Budwieser commercials.  You have to see this. The great think about this house they had over 30 minutes of music programed including some awesome Trans Siberian Orchestra songs. Santa Arrives 18, 19, 20th. Donations are accepted and 100% goes to fight cancer. 

The address is Sooy lane in Absecon.  I don’t have the street number but it’s the last house on the bay side.  If you’re coming from Shore Road heading North.  It’s just past the intersection of Rout 9 and Shore Road.  Make a right and follow the signs for X-mas light show.

Here is a link to a video I took with my phone.  The quality is not so good so you have to see this for yourself.  http://qik.ly/u9mr

Best wishes and have a Merry Christmas,

Matt

The Atlantic County Grant Program for first time home buyers has money available now.  For the past 6 months or so money was not available.  This is a great program for first time home buyers in Atlantic County, NJ. 

The grant provides up to $20,000 for first time home buyers to cover down payment and closing costs.  First time home buyers are buyers who have not owned a primary residence in the last three years.

If you or someone you know would like to take advantage of this opportunity before the money is gone.  Please contact me immediately at 609-484-9890 ext. 132.

Here is a list of communities that qualify for the grant money:

Galloway, NJ

Absecon, NJ

Egg Harbor City, NJ

Pleasantville, NJ

Mullica Township, NJ

Hammonton, NJ

Egg Harbor Township, NJ

Hamilton Township, Mays Landing, NJ

Northfield, NJ

Linwood, NJ

Somers Point, NJ

Brigantine, NJ

Ventnor, NJ

Margate, NJ

Longport, NJ

Estell Manor, NJ

Beuna, NJ

Best wishes,

Matt

Your Trusted Real Estate Expert For Life

How was your Thanksgiving?

In this month’s newsletter we’ve got some great information including an article on the new tax credit for home owners, not just first time buyers.

We’ll also be talking about the hot toys of the season and how to enjoy stress free holiday travel. As always, we invite you to check out some of the area’s best properties and find out what homes are selling for in your neighborhood.

Feel free to also watch the latest This Month In Real Estate Video.

If you like what you see… please forward it to your friends!

To enjoy the interactive features of the Haviland Group newsletter online click here. http://www.atlanticshoreliving.net/haviland

Thank you and best wishes, Richard, Matthew, and Linda Haviland Your Trusted Real Estate Experts For Life