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Existing-Home Sales Show Uptrend In December

02-10-12
Shaun Hamman
Shaun Hamman: Mortgage Company in Parsippany, NJ
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  • Office: (800) 316-9508
Existing-home sales continued on an upward trend in December, marking three consecutive months of rising numbers. According to a recent press release from the National Association of Realtors®, December 2011 showed a 5.0 percent increase in existing-home sales and were 3.6 percent higher than those from December 2010.

“The American dream of homeownership is alive and well. We have a large pent-up demand, and household formation is likely to return to normal as the job market steadily improves,” said NAR President Moe Veissi. “More buyers coming into the market mean additional benefits for the overall economy. When people buy homes, they stimulate a lot of related goods and services.” The information, which was released on January 20, 2012, showed the following data, based on seasonally-adjusted annual rates:

* December 2011 EHS – 4.61 million * November 2011 EHS – 4.45 million * October 2011 EHS – 4.25 million
* Total EHS inventory by the end of December 2011 – 2.38 million (Represents a 6.2 month supply based on current sales pace, down from a 7.2 month supply in November 2011)

* National median existing-home price in December 2011 - $164,500 (Down 2.5% from December 2010)

* All-cash sales in December 2011 – 31% of purchases (Up from 28% in November and up from 29% in December 2010)

The available inventory data represents the lowest level since March 2005 when there were 2.30 million homes on the market.

This data represents estimates that are based on completed transactions on single-family homes, townhomes, condominiums and co-ops. Visit www.realtor.org/research/research/ehsdata to read the full press release.

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On a side note...the AFR team was privileged to assist 926 families with their home financing needs in December, funding152 million dollars. 2011 has come and gone...What was a special year. AFR was able to assist over 8900 families with home financing. Funding over 1.47 BILLION dollars in 2011 for a new record. Congrats to all those families and to the hard working AFR team. On to a bigger and better 2012!
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32 Willow Ave Randolph NJ

02-09-12
Gary J. Ribe
Gary J. Ribe: Real Estate Agent in Succasunna, NJ
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  • Office: (973) 219-4367
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Gary Ribe
Re/Max American Dreams
973-219-4367
griberealtor@gmail.com
MLS#: 2915832
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32 Willow Ave
Randolph, NJ
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>>>>>>>Great Starter Home with Randolph schools<<<<<<
$ Click for current price
3 BEDROOMS
1 BATHROOMS (1 full)

Ranch with Large level L Shape yard 100x200 & 105 X100 combined has 3 Bd, 1 bath. 1 car detached garage, A/G Oil Tank, New Furnace, Vinyl Siding,Newer Appliances. Randolph schools!!
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Each REMAX franchised office is independently owned and operated.  ©2011. All rights reserved.   Equal Housing Opportunity
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Your Home is on the Market, Now What? Tips by a NJ stager

02-09-12
Kristine Ginsberg Morris County, NJ Stager
Kristine Ginsberg Morris County, NJ Stager: Home Stager in Morris Plains, NJ
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  • Office: (973) 206-1301
  • Mobile: (201) 602-2562

You’re home’s on the market, now What? Tips by a NJ stager

While your home is on the market, your life is on hold. It's an inconvenience and you have to make sacrifices…….but there’s a big payoff and that’s selling your home as quickly as possible and moving on with your life!

The following are no cost/low cost tips on keeping your home showroom ready:

Keep your yard manicured. Mow the lawn, trim the bushes and blow the driveway regularly so it’s free of debris. Keep in mind your home is on display for anyone who passes it so it should always look well maintained.

Wash your kitchen garbage can with bleach and spray it with Febreze, a smell neutralizer. Take it out every day because food quickly starts to rot and the odor will permeate your kitchen.

Vacuum and dust at least twice a week and before all open houses. Those 2 jobs alone will show you maintain your home and it will look clean and sparkle.

Keep all sinks, baths and toilets clean. This doesn’t need a lot of explanation. Give it a good scrub and use bleach and Tilex to rid any mildew. Then open the window and air it out for 15 minutes.

Rent a carpet cleaner or use a carpet cleaning service to clean and neutralized any smells so your carpets not only look great, but smell clean and fresh.

Don’t advertise Fido and Fluffy because they aren’t going to help sell your home. Besides taking them out of the house during showings, wash their beds, blankets, toys and keep all animal related things (crates, beds, dog/cat bowls) hidden when buyers are in your home.

During the evening, keep your indoor and outdoor lights on so potential buyers can see it. Don’t miss any opportunity to attract buyers!

Keep in mind that this is temporary and the payoff is selling your home as quickly as possible!

Elite Staging and Redesign - Staged to Sell, Designed to Live!

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NJ Estates Real Estate Group For Buying, Selling, Info on Morris County, NJ

02-08-12
Paul F Stillwaggon NJ Estates Real Estate Group
Paul F Stillwaggon NJ Estates Real Estate Group: Real Estate Agent in Warren, NJ
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  • Office: (908) 561-5492
  • Mobile: (908) 310-1358
  • Secondary: (908) 561-5400
MORRIS COUNTY NJ REAL ESTATE INFORMATION



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Watchung Office 908-561-5492

I am proud to announce that the NJ Estates Real Estate Group at Weichert Realtors
has restructured to a team of 11 full-time, highly qualified real estate professionals
excited to work with you. Their combined expertise and knowledge cover
all aspects of Real Estate including Luxury New Construction, New Homes, Renovations,
Pre-Owned Homes, REO Sales, Estate Sales, Rentals, Short Sales and everything in between.
Some of them, in fact, are multilingual; Spanish, Portuguese, Chinese, Russian and Polish.

I am confident that we are the right team for you. Please feel free to contact me
if you have any questions or inquiries about buying or selling Real Estate
in North/Central NJ. For any real estate needs outside our area,
we work with a talented group of referral agents.

To request Somerset County township real estate information Click Here

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To request Morris County township real estate information Click Here

If you have other questions please E-mail us at NJEstates@gmail.com

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Mendham NJ Real Estate 2011 Annual Market Report Mendham Township

02-07-12
Bob Zorechak - Sells Homes in Morris/ Somerset/Hunterdon Cos., NJ 908-267-2465
Bob Zorechak - Sells Homes in Morris/ Somerset/Hunterdon Cos., NJ 908-267-2465: Real Estate Agent in Chester, NJ
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  • Office: (973) 539-1120
  • Mobile: (908) 267-2465

Mendham NJ Real Estate 2011 Annual Market Report Mendham Township

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Mendham Township NJ through 2011 in addition to a look back at the years in between to 2005. See what the trends are indicating and what is next for the Mendham Township NJ real estate market. If you are considering buying and or selling a home in 2012 in Mendham Township NJ, this valuable annual market report is an absolute must read.

Attention... all residential real estate is local! Not everything you read about online, in the papers and hear through major media outlets about the housing market is correct or relevant, especially when information is presented on a "national" or "regional" basis. There are many factors that make up the differences in local real estate markets, even from town to town and especially in a state like New Jersey with its inordinate amount of municipalities making it a challenge for some to drill down and obtain the correct market value of any given home. This is why it is important for both buyers and sellers to start with the latest "local" market data before they make any real estate decisions.

Mendham NJ Real Estate 2011 Annual Market Report Mendham Township

As you can see from the chart above the volume of Listings in Mendham Township have been holding steady over the past 5 years with Closed Sales gradually increasing over the past 2 years. On a positive note, inventory has decreased significantly by 34% from this same time last year down from 22 to 14.6 months, which is a big step in the right direction. Ideally, the inventory level should be between 5 and 6 months in order to be considered a "balanced" or normal market where neither Buyers or Sellers have any distinct advantages over one another. Anything above this level is considered to be a Buyer's market and anything below would be a Seller's market.

Simply stated, "inventory" represents the number of homes currently available or For Sale in a given market, or in this case a specific town. This means that with all things remaining equal, at the current rate of sales, it will take approximately 14 1/2 months to sell all of Mendham Township's current inventory.

This data indicates that the real estate market in Mendham Township is currently providing Buyers with the advantage, and should remain this way at least for the short term.

Mendham NJ Real Estate 2011 Annual Market Report Mendham Township

The chart above indicates a steadily declining level in the Average Sale Price of homes in Mendham Township NJ over the past 5 years in particular with highs of $1.2M down to $885K in 2011.

Based on the high amount of standing inventory, I would expect to see prices in Mendham Township continue to drop in 2012.


What Does the Market Hold for 2012?


Follow the link below to find out in addition to reading the rest of this Mendham Township 2011 Annual Market Report:

Mendham Township 2011 Annual Market Report



For more information on Mendham Township including the school system, follow this link:

All you need to know about Mendham Township NJ


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