Here is another map I found on Zillow that is great at showing an overall picture of home value changes. If you think that your home's value has changed and want to know for sure please call me at 609-916-7342 ext 704 and I will provide a complementary market analysis for you.
Looking on the map you can see the areas in blue had the worst depreciation from a year ago. The values of these homes have gone down 9% or more. There are a few areas in gold that did not drop in value according to the map. I would question the accuracy of that but it is possible that overall some areas did not drop in value. All real estate is local so again please contact me now so I can tell you how much the value of your home has dropped. If you need to sell your home and you fear that you may have negative equity we have solutions to help.
Best wishes,
Matt
While Zillow does not always do a great job of coming up with values for individual homes, they have done a good job in visually displaying what is going on in the market today in a broad sense.
This map displays which areas have the most negative equity. While this map may look bleak it is not as bad as many other areas in the country such as Florida and California.
If you think your home may be in an area with a great percentage of negative equity please contact me. I am happy to give you a value for your home and consult with you if you are in a negative equity situation. Call me at 609-916-7342 ext. 704.
Best wishes, Matt
First of all I have to say that Zillow does not always provide accurate individual home value information and please contact me at 609-916-7342 to get a value of your home. However they do have some valuable tools to look at the big picture of what is going on in the market. Here is a graph from their site on the Atlantic City market.
As you can see home values peaked around 2006 and have been dropping since then. If you look at the chart from an appreciation view you can see that even with the decline in value, home prices are still above and 8% appreciation mark since 2000. Another thing to note is that according to the chart current prices are back down to about 2005 prices. I think some cases home prices are closer to 2004 prices. Please send me your comments and let me know what you think.
Matt
Your First Home, Buying By The Book Workshop
First Time Home Buyer Workshop Will Help You Take Advantage Of The Opportunities In This Buyers Market.
If you or someone you know is thinking about buying their first home please watch this first time home buyer workshop. This workshop is based on the new book by best selling authors, Gary Keller, Dave Jenks and Jay Papasan. The workshop will be conducted by first time home buyer expert Matthew Haviland. I'm a passionate, creative, well organized real estate consultant with The Haviland Group at Keller Williams Realty Atlantic Shore. I will go through the entire home buying process as well as cover current market trends, and financing opportunities.
Fox Chase is a very nice condo community in Smithville, Galloway Township, NJ. These are all one bedroom one bath homes. Here is a chart that shows how the prices have changed since 2005. As you can see prices increased in 2006 then have steadily declined since then. Also, the number of condos that have sold has dropped dramatically from 47 sold in 2005 to just 10 so far this year. Please contact me at 609-916-7342 ext. 704 if you have any questions about this report. Also, if you would like an analysis of what is happending to prices in your area. Call me and I am happy to help.
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I am a passionate, creative, well organized real estate expert. The Haviland Group's highly trained team works with home buyers, sellers and investors in Atlantic City and Atlantic County, NJ.
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