Here is a look at the Atlantic County real estate market. We will break out single family homes, condos and take a look at adult communities.
For single family homes, New listing were up in December, closed sales were up and median sales price was up by 22.6% to $225,000. Inventory was down by 4.7%.
For condos and townhomes new listings were up 40% and median sales price was up 31.8%. Inventory went up 10%. Recent changes allowing FHA spot approvals should open up more financing options for condo buyers and also help contribute to increased condo prices.
For adult communities new listings rose by 42.9%. Days on market dropped by 60% to just 33 days on market. Median sales price decreased by 21% for the month. In general the adult community home prices do mirror the rest of the market so a few lower priced homes sales may have led to the drop in prices for the month.
If you’re thinking about buying or selling a home please contact us for a complimentary Pin Point Price Analysis and Room By Room Review.
Our award winning team is grateful to have the opportunity to help over 72 families with their real estate needs in 2019. Matthew Haviland earned the silver Circle Of Excellence Award and Richard Haviland earned the bronze award from the New Jersey Association Of Realtors. Combined team sales volume was over $12.5 Million dollars including our other team partner James Schroeder.
Our business is based on referrals. We would like to take time to thank our friends, family, neighbors, and past clients for introducing us to the people they care about. Your endorsements are the lifeblood of our business. Thank you! Here’s to a wonderful 2020. And remember we always have time to help a few new clients.
Don't sell your house before doing these 5 things first!
If you’re thinking about selling your home in the Spring or Summer now is the time to start getting the home ready. If you want to sell your home quickly and for top dollar do these 5 things as you prepare your home.
Create a great first impression.
Winter may not be the best time to prepare landscaping however one key area you can work on any time of the year is the front entry way to your home. Look at the door does it need to be painted? How is the trim work? Make sure this are is clean and free of any cobwebs or dirt. Remember that the buyer will often be waiting outside for a few minutes before entering the home.
This is a simple one but not easy. Picture your home as a model home. You want to make the rooms look open and inviting. Sell or pack excess furniture. Pack knickknacks or decor that is excessive.
Clear The Kitchen Countertops
Kitchen spaces can seem small when they are covered with appliances, utensils and pots and pans. Remove everything off the countertops to make your kitchen and counter space appear bigger.
Make sure the home is odor free
Smells can make or break a house. Odors can easily be picked up on as soon as you enter a house. Make sure your home is odor free. Keep it clean. If you’re a smoker, smoke outside. Air out the house if you need to or seek professional help if you have a severe odor.
Fix things that are broken
If you know things need to be done take care of them. Fix little things like burned out light bulbs, leaky faucets, or electrical switches that don’t work. If you really want to be proactive you can do a pre-home inspection and find out exactly what issues would come up on an inspection report. This gives you time to fix or evaluate the issues before putting the house on the market. We have home inspectors we can recommend if you need help with this.
If you’d like more ideas on getting your home ready contact and request our free Room By Room Review booklet. We can email you a copy of this booklet or come out and personally give you our recommendations on what to do and what not to do.
Here is a list of FHA approved condominiums in Atlantic County, NJ
Here is a list of FHA approved condominiums in Atlantic County, NJ. Based on findings at HUD.gov. Financing for condos with an FHA loan can be challenge. Under the revised guidelines – which took effect Oct. 15, 2019 – an individual condo unit in a building of 10 units or more may be eligible for spot approval if no more than 10% of the units are FHA-insured. So even if a condo is not on the FHA approved list it may still be eligible for FHA financing.
If FHA financing is not an option there are other choices include USDA loan (100% financing), and some banks do offer a 3% conventional loan. Contact us if you’re interested in financing a condo purchase.
10 N ADAMS AVE
MARGATE, NJ 08402
THE FOUR SEASONS CONDO
NORTHFIELD, NJ 08225
THE MEADOWS AT HAMMONTON
HAMMONTON, NJ 08037
THE VILLAGE AT LINWOOD
550 CENTRAL AVE
LINWOOD, NJ 08221
824 MARSHALL CT
VENTNOR, NJ 08406
These condos are approved for as low as 3.5% down payment FHA home loans.
UPDATE: 2/21/2020. We just sold a lovely 2 bedroom condo in Society Hill II in Galloway Township and the sale was approved via FHA with a spot approval.
Consider Woods Landing active adult community in Mays Landing.
We’ve just contracted with Fernmoor Homes to sell their fabulous 55+ active adult community called Woods Landing. This community is located in Mays Landing in Atlantic County, NJ. Home prices start at just $244,900. Homes range from 1,500 square feet to 1,875 square feet. All homes feature 2 car garages, walk up attics and upgraded interiors. 2 homes are available for immediate occupancy. Click here to learn more about Woods Landing homes or contact us for a tour.
Recent sale in Egg Harbor Township went under contract in 7 days $7,000 over asking price.
It’s a great time to sell a home and I want to share a story about Jim and Lori who were able to sell their Egg Harbor Township home quickly and for top dollar. The biggest factors in selling any home are price and condition.
Jim and Lori had a home inspection done before listing their property so they didn’t have any surprises. They fixed most of the items that came in the inspection report before listing the house to ensure a smooth sale. They also priced the house right. The result of this was 9 showings and under contract in 7 days. The home sold in just 42 days and sold for $7,000 over the asking price.
If you’re interested in selling your home and want top dollar and a quick sale contact me for a free consultation.
Every year we offer fresh baked pies to our clients and referral partners as a way of saying thank you. It’s a great day and this year was our best pie day yet. We are grateful to have the opportunity to help so many wonderful people buy sell and invest in real estate. Thanks to our clients for trusting us with their real estate needs and introducing us to the people you care about!
We are rolling toward the end of October and Thanksgiving is right around the corner. 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!
If you’d like to know if this is the best time or not to sell for you please contact me at 609-338-3773.