Tag Archives: somers point

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3 Ways To Buy A Home At The Jersey Shore For Less Than $200,000

How to purchase a vacation home or investment at the NJ shore for under $200,000

Buying a vacation home at the Jersey shore may seem out of reach for most people.  Typical beach homes range in the $400,000 range and up.  However it is possible to purchase something much less and and actually keep the price under $200,000.  Here are 3 ways to purchase a NJ shore beach home for less than $200,000.

Choose a location further from the beach.

Many of our shore town have areas that are further from the beach.  These sections typically have more year round residents and more affordable prices.  For example, I recently listed this ranch home in Ventnor Heights that was raised and renovated and is currently priced at $190,000.  Click here for details on the house.

201 N Somerset Ave, Ventnor, NJ

Choose An Up And Coming Area

Not all shore towns are priced the same and if you’re looking to spend less choose an up and coming area like Atlantic City.  Prices for many homes and condos are under $200,000.  There are some great locations in Atlantic City and some not so great locations.  Choose a local agent who can help you find the right location and home.

Look For A Home Off Shore

If you’re willing to take a short drive you can get more house for the money off shore.  Communities like Somers Point are just a 5 minute drive into Ocean City.  Absecon is just 5 minutes from Atlantic City and 10 minutes to Brigantine.  And if you’re will to drive a little further communities like Egg Harbor Township, Linwood, Northfield and Galloway are within a 20 minute drive to the beaches.

If you’re considering purchasing a shore home or investment please contact us for a free consultation.  No matter what your budget is we’re here to help.

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Market Statistics For Atlantic County, NJ 2016

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

City Number of sales In 2016 Year to Date # of homes for sale # sold/month % sold/month
Galloway 349 311 29.08 9.35%
Absecon 122 98 10.17 10.37%
Port Republic 9 7 0.75 10.71%
Egg Harbor Twp 548 362 45.67 12.62%
Hamilton Twp 278 219 23.17 10.58%
Somers Point 127 86 10.58 12.31%
Northfield 130 84 10.83 12.90%
Linwood 98 85 8.17 9.61%
Pleasantville 224 121 18.67 15.43%

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.

 

Sold Price Number of sales by price point
0-50k 94
50-100k 214
100-150k 307
150-200k 468
200-250k 350
250-300k 159
300-350k 56
350k-400k 33
400-450k 23
450-500k 16
500-550k 7
550+ 10

*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.

3 bedroom Average 71 days on market
4 bedroom 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

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What’s Your Home Worth in a Declining Market?

Here’s a quick note to let you know how I can help you—or anyone you feel comfortable introducing me to.

It’s no secret that parts of our area are experiencing declines in the real estate market. Home prices are not going up for many area.  Take a look at the charts showing the Mainland area real estate market (Galloway, Egg Harbor Township, Northfield, Pleasantville, Absecon, Port Republic, Egg Harbor City, Mullica Township, Hammonton, Linwood, Northfield, Somers Point, Beuna and Hamilton Township.)  A healthy real estate market depends on a balance of buyers and sellers being able to move in and out of the market.  Right now we are seeing a buyer’s market in the mainland communities.

CMM_Report_SupplyAndDemand_chart CMM_Report_UnitsExpired_chart CMM_Report_UnitsForSale_chart CMM_Report_UnitsSold_chart CMM_Report_SoldForSaleMedianPrice_chart For sellers, the implication is that they will need to price their homes more competitively. A competitive price will attract more interest than a higher price. In the end, the higher priced property usually sells for the same as the competitively priced home, but just takes longer to sell.

If you or someone you know is thinking about selling, contact me to get a price analysis to help plan your sale: 609-338-3773. Also ask for a copy of my free report, How Sellers Price Their Homes.

Matthew Haviland, Your Real Estate Consultant For Life Keller Williams Realty Atlantic Shore 609-484-9890 ext 132

P.S. Do you know someone else who’s thinking about selling their home? Please introduce us so that I can help them get the most money possible from the sale

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How To Sell Your House When You Already Have A Buyer

Over the years I’ve helped many clients sell their home when they already have a buyer lined up.  Typically I see this when a family member wants to sell a home to another family member.  You may not need the full services of a Realtor however you need help with paperwork and making sure things are done correctly and in a timely manner.  Many of my clients also wish to not have the liability risk that many For Sale By Owners Face.

I recently helped Amie purchase a home from her family.

I recently helped Amie purchase a home from her family.

One of the services I provide is as a Transaction Broker.  In NJ a transaction broker doesn’t represent either side and helps in the transaction.  For a small flat fee I can help with paperwork and guide you through the home selling and buying process.  I’ll also give you access to my services directory with reliable vendors to help you where needed.

Remember when you have a home to sell and have a buyer already call me and let me help guide you safely though the home selling process.  Best wishes,

Matt

P.S.  If you or someone you know is selling a home and may need my help.  Please call me now at 609-338-3773.