We just reduced the price on this fantastic home to $110,000. This 2 bedroom 1 bath condo is a first floor unit located in London Court in Egg Harbor Township, NJ. Contact us for more details.
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 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.
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.
If you know anyone looking for a great buy in Society Hill I in Galloway, NJ call me at 609-484-9890 ext 132. Here are some photos: