About Camden County, NJ

If you are wondering how the market played out in 2009 for the Camden County NJ area, look no further! Here are the statistics...RESIDENTIAL SALES ONLY

Information Gathered from TReND MLS

Date	Units Listed	Listed Volume	Listed Average	Pended	Units Sold	Sold Volume	Sold Average	Average DOM
Dec 2009	459	102,097,061	222,433	241	284	52,515,662	184,914	100
Nov 2009	615	123,575,590	200,935	263	463	87,927,467	189,908	97
Oct 2009	811	169,942,897	209,547	425	450	85,090,306	189,089	85
Sep 2009	835	183,839,595	220,167	433	349	66,763,106	191,298	90
Aug 2009	859	168,309,806	195,936	411	408	84,921,945	208,142	93
July 2009	912	203,762,448	223,423	428	458	100,430,779	219,281	95
June 2009	913	207,539,355	227,315	454	426	89,242,860	209,490	90
May 2009	888	194,684,690	219,239	394	355	72,850,460	205,212	94
Apr 2009	904	187,501,967	207,413	426	287	53,543,108	186,561	103
Mar 2009	942	214,398,707	227,599	333	273	51,168,393	187,430	99
Feb 2009	752	162,269,527	215,783	296	251	46,699,894	186,055	99
Jan 2009	843	174,298,290	206,759	293	177	32,021,546	180,912	92
Totals:	9733	2,092,219,933	214,961	4397	4181	823,175,526	196,884	94
Pricing Details of Sold Units for the Date Range Selected
Average Prices
Original List Price: $217,207
Sold Price: $196,884

So you see, we have an average days on market, or DOM of 94 Days. These properties that made up this average where certainly priced properly.

When is it a good time to buy a home?

Important interest rate info below. Please read ...

First time homebuyers have been blessed with low mortgage interest rates and the first time homebuyer tax credit. We have heard so many times in the last 12 months that now is a great time to buy. But is this true? So when is it a great time to buy as a first time home buyer or even a regular borrower?

Let me keep it simple. The best time to buy a home is when you are ready to buy. It should not be an impulse, for those that buy when they are sad or happy. Or just because your friend or neighbor bought a house. Or to keep up with the Jones's.

In the last 2 years, buyers have been very lucky with low interest rates in the high 4's to mid 5's and because of the first time home buyers tax credit. What it comes down to is knowing the future and the what ifs. No, I don't have a crystal ball, but the writing could be on the wall. Let's explore some.

The Federal Reserve implemented a plan to help keep mortgage interest rates low. It was a way to keep buyers' fears low and hopefully to help stimulate the economy. Here is a press release from Nov. 2008 - Federal Reserve announcement in buying mortgage-backed securities & GSE's - This was the original plan. What is the plan now? There is news that this plan will come to a halt. And I feel that all buyers and anyone related to the real estate market, should know now and not later. And not be told as it is actually happens.

So what does this all have to do, especially with first time homebuyers? I hate to be the bearer of bad news, but this needs to be talked about and now. Interest rates could climb higher in the next several months or so.

Is time running out to buy a home?

No, time is not running out. People will always buy homes. But it should come with careful consideration and planning. And much of this planning should come from a very knowledgeable loan officer. You should not just buy because you could get a tax credit or because mortgage rates are low.

Here is a question and answer fact sheet put out by the Federal Reserve. FAQs: Purchasing Direct Obligations of Housing-Related GSEs - And here is an excerpt specifically stating the Feds backing out the direct obligations.

Lastly, you have the first time homebuyer tax credit which is due to expire with homes under contract by April 30th, and that close before June 30th. Detailed information on the home buyers tax credit can be found here : Tax Credit for home buyers -

Summary : There should be no need for panic. I wanted to supply information and educate, because if you a serious first time homebuyer or any other type of buyer, you should not be sitting on the fence, waiting for interest rates to drop or home prices to drop even further.

One fear of mine is that we could see rates go up as high as 7% by the end of the 3rd quarter. Let's just play devils advocate and say they go from 5% to 6%. On a $250,000 loan, your payment would go from $1,342.05 to $1,498.88 a month. That is a monthly difference of $156.83. That turns out to be a grand total of $1,881.96 a year.

Again, I don’t believe in negative news to instill fear and or panic. But I do believe that many should be aware of this. If you are a serious buyer, just don’t be caught with your pants down or listening to someone else that might not understand the value of our economic issues.

And keep in mind that you don't need 20% down or credit scores above 700.

Please read : FHA loans with 3.5% down & Rumors why FHA loans are bad

FOLLOW ME ON FACEBOOK

- FHA Loans - USDA Loans - VA Loans -

- Energy Efficient Mortgages -

- Conventional Loans - 203 k loans -

- Mortgages -

Experience & Knowledge at its BEST !!!

_________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

Copyright © 2010 by Jeff Belonger of Infinity Home Mortgage Company, Inc

Buyers buy now. Sellers if you want or need to sell, sell now. Banks liquidate now. Realtors get retrained and get to work now. You will win big if you do. Had a sales meeting today with my associates. Asked who knows how many closings took place in Cherry Hill, New Jersey for last six months and average price? Answers ran from110 with the part timers, on up to 120, 190, 310....pulled the data from TrendMLS. 359 single family home sales. Then I explained that is actually X's2. Seller side and buyer side. So, actually 718 sides in one township. Granted one of the larger townships. Average price close to $253,000. They some in the group's reaction was from surprised to very surprised. Then I lay-ed into the "community" that shares the "gloom and doom" mentality for the excuse of not working.

Went a bit further, pulled data from 1/1/2007 till 6/30/2007. The best seller's market for the last economic expansion of the "Roaring 2000's". Care to take a guess of the number of sales of single family homes?

503 x 2. Ok. 29% drop. and an approx. drop in price of 13%. It's my belief that, about the same percentage Realtors left the market. So, just as much business for the workers of our industry. I have several associates who have earned more in 2009. Yes, they changed their direction. Yes, they put more hours in the close title. Yes, they had to get retrained for this market.

Our theme for our meeting; "2010; THE MAKE IT OR BREAK IT YEAR", FOR I KNOW THIS TO BE TRUE. Those who adjust, maneuver, face their fears and get to work will be the premier Realtors for the next economic cycle. 2010 - 2011 will be the bottom out years. 2012- 2014 will be the stabilization years. 2014.5 - 2019 will be the next pricing boom. 2019.5-2020 will be the next correction. Plan for this cycle. Be cash heavy in 2019 and buy in 2022-2025. Of course this is just my opinion from details observations.

Buyers searching for a home? Tired of finding short sales and afraid you will miss your $8,000 tax credit? Contact Janet Larsen, Broker/Associate Remax Connection top producing, full time agent dedicating my time to finding you the perfect home, no matter how many homes you need to see!

I have new listings coming on the market all of the time, that get sold before they ever hit the internet or mls sites! Call me today at 856-261-6910!

Let's get out and look at homes and invest in your future!!

view 10000's of homes here www.njrealtorjan.com

SCHEDULE AN APPT TO SEE YOUR DREAMHOME HERE! 856-261-6910

38 WIlton's Landing Road was listed for over 6 months with a local Realtor, then For Sale By Owner for 1 year! Janet Larsen Lists It At the same price and sells it in one day! This is not uncommon for Janet Larsen.

35 Maple Street Clayton was listed for 6 months with a local Realtor. Janet sold it within 30 days!

Janet's unique internet marketing, broad exposure and a different approach then most realtors is what does it! Janet's customer service and ability to be a top negotiator and follow through is just phenomenal says Jim and Tracy!

Tonia says, "We have had many Realtors and you are the best! We will refer you to all of our friends!

Eileen of Clayton says! I never thought my house would sell so fast, especially after my past experiences with other Realtors! Now our dream of moving to Florida is a Reality!

Janet WILL RETURN YOUR PHONE CALLS PROMPTLY! You can bet on that! Call Janet Larsen if you want to sell your home! 856-261-6910

www.njrealtorjan.com

email: njrealtorjan@comcast.net