Lebanon, NJ

Lebanon Township NJ Real Estate 2011 Annual Market Report

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Lebanon 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 Lebanon Township NJ real estate market. If you are considering buying and or selling a home in 2012 in Lebanon 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.

As you can see from the chart above the volume of Listings in Lebanon Township has been trending slightly downward in 4 out of the past 5 years with Closed Sales remaining relatively flat resulting in an otherwise weak local market. Inventory, which was abnormally high to begin with, has risen modestly by 11% from this same time last year up from 14.2 to 15.8 months, which is a step in the wrong direction.

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 16 months to sell all of Lebanon Township's current inventory. This figure indicates that Lebanon Township, like many of the surrounding towns is experiencing what we call a strong "Buyer's Market" and will remain so for at least the short term. A Buyer's Market is considered to be a market with an inventory of 7 or more months worth of homes to sell at any given time.

With more homes to choose from, not to mention record low interest rates and low prices, things remain very advantageous to buyers right now. A "Balanced" or normal market is considered to have 5 to 6 months worth of inventory with no distinct advantage to either Buyers or Sellers.

The chart above indicates a steadily declining trend in the Sale Price of homes in Lebanon Township NJ over the past 6 years. This is primarily due to two factors: an overall weak economy, which has a direct affect on the housing market along with Sellers refusing to price their homes close to their market value from the very beginning and then compounding the situation by not reducing their price in a timely manner. This scenario causes inventory to go up, and the listings to become "stale" because they are on the market much longer than the norm, resulting in a stagnant local market condition like the one we are currently experiencing.

Based on the excess amount of inventory, I would expect to see prices in Lebanon Township continue to decline at least for the short term until some of the older inventory is finally sold off or withdrawn from the market.

What Does the Market Hold for 2012?

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

Lebanon Township 2011 Annual Market Report

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

All you need to know about Lebanon Township NJ

Townhomes at Hunters Glen in Tewksbury NJ Market Report November 2011 by Bob Zorechak - GRI, ABR, e-PRO

The Townhomes at Hunters Glen in Tewksbury NJ is an enclave of 52 upscale and spacious, two story contemporary styled residences situated on 38 pastoral acres set in a semi-wooded circle and conveniently located on the southern border of town off of Potterstown Road just 2.5 miles from Exit 24 on Rt. 78. Established in the mid 1980’s this neighborhood offers a unique contemporary country lifestyle with all of today’s modern conveniences.

Prices in Hunters Glen range from the low to mid $400,000’s up to $575,000 and range in size from approximately 2,400 to 3,000 sq. ft., depending on the model. Lot sizes can be up to ⅓ of an acre with a mix of open, flat, and semi-wooded lots, with some overlooking a pond or backing to the woods. The development also boasts its own built-in pool with club house, and two tennis courts.

Townhomes at Hunters Glen come in a variety of two and three bedroom models, all with two car garages and full basements, some of which are walkouts. Other amenities include (depending on the model):

• First floor Master Bedrooms
• Hardwood floors
• Cathedral ceilings
• 1 to 2 Fireplaces
• Multiple skylights
• Sunroom/solarium
• Loft
• Library - some with 2 stories
• Entry foyers - some with 2 stories
• Jacuzzi in Master Bath
• Large basements
• Large backyard decks

Follow the link for the rest of this post in order to find out more about

Hunters Glen Townhomes in Tewksbury NJ Market Report November 2011

Home for Sale By Owner in Lebanon Boro, NJ 08833 - Flat Fee MLS Listing $395

3 Cherry St Lebanon Boro, NJ 08833 - Realtors welcome, buyer agent commission paid at closing !Please check listing details here at MLS# 2834805.

3 beds, 2.5 bathrooms

Carbon Monoxide Detector, Dishwasher, Kitchen Exhaust Fan, Microwave Oven, Range/Oven-Gas, Refrigerator, Eat-In Kitchen, Carpeting, Vinyl-Linoleum, Wood Floor, First Level Rooms: 2 Bedrooms, Bath Main, Den, Dining Room, Kitchen, Living Room, Second Level Rooms: 1 Bedroom, Bath(s) Other, Master Bath Features: Jacuzzi-Type, Second Bedroom is: 13x8, Third Bedroom is: 14x9.

If you are interested in this Home for Sale By Owner in Lebanon Boro, NJ 08833- Flat Fee MLS Listing $395, please call 1-888-362-6543, enter the MLS# 2834805. . You can make an appointment or ask any questions about the property. Realtors welcome, buyer commission is paid to any realtor. Please see additional listing details at Realtor.com featured by Realmart Realty.

If you have a Home for Sale in Lebanon Boro, NJ 08833 and would like save up to 6% commission, we can list your home on the local MLS and Realtor.com for a low flat fee of $395. For more information please read the FAQ on Home for Sale By Owner in Lebanon Boro, NJ 08833- Flat Fee MLS Listing. You will get the maximum exposure of the local MLS, in which thousands of local realtors will help you sell your home. You also reserve the right to sell your home by owner and pay no commission at all.

Please contact Realmart Realty for our texting special. All new orders will receive a free sign with Texting Service where buyers can get full listing details on their mobile phones instantly. Offers ends 05/30/2011, call now for more information about Homes for Sale By Owner in Lebanon Boro, NJ 08833- Flat Fee MLS Listing $395.

Are you buying a home in Lebanon Boro, NJ 08833 We will give you up to 2% of the purchase price of the property at closing if you choose to work with us. This is for all homes that are listed on the MLS. For more information, please read the Buying tips and FAQS.

Jack Yao - Realmart Realty info@realmartrealty.com, 732-727-2285

YES IT'S TRUE! The state of New Jersey allows REBATES for homebuyers. This is CASH in your pocket at the closing table. For more information on the rebate program, please read the New Jersey Law. This is not a government rebate. Please consult a tax professional about the rebate. In New Jersey commissions are negotiable.

Lebanon Township, Hunterdon County, NJ Real Estate continues to experience its own unique and challenging market. In December, 2010, a total of one (1) home was contracted, while the new listed Lebanon Township homes for sale increased by seven (7), with a total of fifty (50) total homes for sale. In other words, in December, 2010 Lebanon Township had fifty (50) sellers for every one (1) buyer. In comparison, December, 2009 had two (2) homes contracted and a total of forty nine (49) homes for sale.

The primary reasons for Lebanon Township's weaker sales and increased inventory is twofold.

1. New Jersey's continuing job losses in the higher salaries.

2. Lebanon Township's proximity to New York City, where the higher paying jobs are now located.

To put some perspective on our job market, in 2010, New Jersey has lost an average of 3,900 jobs per month.

In Hunterdon County, we are hopeful that this market might improve somewhat in the months and years ahead with the news that Merck is relocating over 500 employees to their Whitehouse Station, NJ headquarters. Although Merck will not be paying for relocation cost due to the proximity of their Union County offices, and because most of these employees will be commuting in the opposite direction of heavy traffic patterns, we cannot assume that this impact will be substantially changing the Lebanon Township Real Estate Market in the near future.

Additionally, Labor Productivity has increased substantially in the past several years. Because we are working longer and harder, we have less time for other things. That being said, homebuyers are now looking for shorter commute, public transportation, and walkable communities.

Those of us who live in Lebanon Township, Hunterdon County, NJ, love our space, our acreage, and the natural setting. Commutability to our jobs is not a major concern for most of us; however, if we need to sell our homes, we have the challenge of finding a buyer from a (much) small pool of buyers, who are like us. Considering the law of supply and demand, it is little wonder why we are experiencing larger inventory of homes for sale in Lebanon Township and lower sale prices for the homes that do sell.

To put some perspective on the home sale prices in Lebanon Township, the list price of contacts in December, 2010 was only $275,000, while last year (December, 2009) average list price of contracted homes was $322,400. On the brighter side, Lebanon Township home sales have closed two (2) homes with a sale price over $700,000 in 2010, which raised the overall average closing price to $419,000. For 2010 the average sale price of sold homes in Lebanon Township was $356,500, with an average of 3 1/2 bedrooms and 2 full baths.

What can you expect if you need to sell your Lebanon Township Home in 2011? First, don't put it off. Indications are interest rates are on the rise. Higher interest rates will reduce the number of buyers in the marketplace. Second, you'll need patience. With 50 homes for sale in Lebanon Township, and only one contract in December, 2010, we currently have 1 buyer for every 50 sellers. The average days on the market is currently 91 days. This does not reflect any prior times the home was listed without selling.

What do you do? Assess your situation carefully and honestly. If you need to sell your home, don't put it off. In this market, you'll also need a Realtor® who will be as serious as you are about selling your home in this challenging market as you are. The Realtor® you choose should evaluate your home in detail and present a convincing Market Analysis that shows exactly where your home should be priced. If you are not convinced get a second, or a third opinion, but keep in mind, the definition of "the market" is what the buyer is willing to pay, nothing more and nothing less. My customized Market Analysis is over 50 pages of concise and customized information and assessment of each individual home. Also, keep in mind that you hire a Realtor® not because of what they think your home is worth, but because of how they will market your home to get it sold in this challenging marketplace. In short, you need to see exactly what you're paying for, which is the written Marketing Plan. You can view my marketing plan here, and when you're ready to take the first step, let's talk. Call me at (908) 537-6596.

The good news about the Real Estate Market in Lebanon Township is that our inventory (total number of homes for sale) is down by 8% over the same month last year. Our Total Inventory currently is 52 homes on the market. The market continues to be challenging when finding buyers. We had two home who found buyers (Under Contract) as compared to four in November, 2009, which is a considerable decrease. With a 26 month absorption rate, we don't seem to be over the "hump" of a recovering market.

Another encouraging Lebanon Township Real Estate Statistics shows that home prices has inched up. For the first time in 2010, the average list price of homes Under Contract in Lebanon Township has topped $400,000. We are now finding buyers that are not exclusively "first time homebuyer". Our average List Price of homes for sale in Lebanon Township is very close to the $400,000, which may be an indication of what we can expect in the Spring Market of 2011.

How long will it take to sell your Lebanon Township Home? During the month of November, 2010, if priced right, the number of days on the market averaged 63, which is an improvement of the overall average for 2010. This is another indication of an improving market. So, if you are considering sell your home ind 2011, you should consider putting in on the market early in the year to take advantage of the spring market.

To get the value of your home in today's market, visit: www.NeighborhoodSoldHomes.com

To see my unique services to sell your home visit: www.HomeSellerBrochure.com

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