Here's an update on what's happening in the Egg Harbor Township Real Estate Market.
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.
New home ownership is more affordable than you may think.
If you’re looking for a new home now is a great time to buy a brand new home. We work with several new national and local home builders to help you find the right community and the right location. Several of our home builders are offering homes in the low to mid $200,000 price range. This price range is very competitive with resale homes. So for around the same price as a resale home you can buy a brand new energy efficient home with a 10 year warranty.
Our featured new home community is Artists Walk by Ryan Homes in Mays Landing, NJ. These homes are packed with all the features buyers want at a reasonable price. Visit our Artists Walk page for my depth video tours of each of the model homes. Contact us for a free consultation. With just a few quick questions we can help determine the best option and community for you. Best wishes, Matt
Here are 3 critical mistakes you want to avoid to sell your Egg Harbor Township, NJ House.
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
Don't hire a real estate agent in Egg Harbor Township without checking on these things first
Selling your Egg Harbor Township home is a big decision. Buying and selling a home can be one of the largest financial decisions you will make in your lifetime. Here are 7 tips for picking a great real estate agent for selling your Egg Harbor Township home.
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.
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.
Market share by units for Egg Harbor Township, NJ in 2018.
If you need an agent to help you sell your Egg Harbor Township home contact us now for a free consultation.
Fabulous home for sale in 55+ community of Heritage Point
I just listed this fantastic house in Barnegat, NJ. This located just off the parkway in a fabulous community of Heritage Point. The home features 2 bedrooms and 2 baths with a charming front porch. Grand entryway with coat closet. Guest bedroom and full bath at the front of the home.
There is an open concept living room dining room combo. An eat in kitchen and family room with sliding glass doors leads to the back yard. There is a large master bedroom with walk in closet, soaking tub, shower and 2 vanities. The home also has 2 car garage and separate laundry room. All appliances and blinds are included. The roof is just 2.5 years old. The community features two clubhouses with indoor and outdoor pools, hot tub, fitness center, tennis courts, shuffleboard, planned activities and bus trips. HOA fee includes trash removal, lawn cutting, snow removal and management costs. Contact us if you’re interested in this home.
Home buyers in Atlantic City may be eligible for up to $20,000 for down payment and closing costs.
Grant money is now available in Atlantic City for first time home buyers. Grants are available from $10,000-$20,000. It’s a great time to buy a home in Atlantic County. And if you’re looking outside Atlantic City the Atlantic County Grant is also available now with up to $10,000 available. So here are some more details on the Atlantic City Grant program.
Persons who have resided in the City of AC for the last 12 months.
Persons who have not owned a home for the past 3 years.
Persons with an acceptable credit history and ability to obtain an approved mortgage.
Persons with incomes below 80% of the median family income. Please contact me for HUD income limits.
Single family properties, condominiums in the city of Atlantic City. Exclude manufactured homes.
Sale price cannot exceed $250,000.
Property must meet all requirements for an approved mortgage.
Property acquired must meet all state and local housing quality standards and code requirements. Any findings are to be corrected, reinspected and certified prior to settlement.
The program will provide a maximum amount of $10,000 – $20,000 to eligible applicants to assist with down payment and closing costs, in accordance with the rules and regulations of the HOME Investment Partnership program.
If you think you would qualify for this program or know someone who could benefit from this. Please contact us immediately. Funds are available on a first come first serve basis and typically go quickly.
Not every house is the same and sometimes there are no comparable homes to go by.
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
Here are the best schools and school districts in Atlantic County
Traditionally Linwood has always been sought after as one of the best school districts in the county. Linwood is still one of the best school districts and as I studied for this article I found a few surprises. According to www.niche.com the number one Elementary school was: William H. Ross III Intermediate School in Margate. This school received an A+ rating. Eugene A. Tighe Middle School in Margate was also the number one public middle school with an A rating.
Margate’s schools are fantastic. However Margate’s high school is Atlantic City High School which is not top rated and received a B grade. The number one high school was Mainland Regional High School in Linwood with an A rating and number two was Egg Harbor Township High School also with an A rating. Linwood’s Bellhaven Middle School and Seaview Elementary School came in number two behind Margate so overall Linwood is still the best ranked school district.
When you’re buying a home and need help selecting the right school district you need a real estate agent that knows the school systems and districts and can help you determine what schools are best for your needs. Contact me for a free consultation. Also, comment on this post and let me know what you think are the best schools and school districts in Atlantic County. Best wishes, Matt
Here is a look at 2018 sales in Four Seasons Smithville, Galloway Township, NJ
Four Seasons Smithville is a fantastic 55 and over active adult community built by K. Hovnanian. This is the largest 55 and over community in Atlantic County and has some of the best amenities activities and clubs for active adult home buyers. Recently I met with a couple who will be relocating and wanted to know when would be the best time of year to sell their house. Their new home would not be ready until July or August and they wanted to time the sale of their Four Seasons home with the purchase of the new home. I studied the 2018 sales in the community to give them an idea of when they would need to put their house on the market for sale.
The chart shows the number of sales each month for the community. Average days on market for Four Seasons was 57 for the year. So that means it took 57 days on average for a home to sign a contract. Then typically it would take another 30-60 days to close from that date.
The biggest sales month was July followed by April and September. If you are looking to sell at one of the peak months March or April is a great time to list the house for sale. Who do you know that needs this kind of advice in selling their home? Contact me for a free consultation.