It’s All Local in Jersey Shore Real Estate

Posted on April 21, 2012 by

As if you were not already confused about the Ocean County housing market, let’s add some more head scratching news.

Friday’s Press of Atlantic City, in the front page headline, screams, “Existing home sales up across region“.

Today, RISMedia’s big headline is, “Existing-Home Sales Decline in March, but Inventory Down, Prices Stablizing“.

Here in southern Ocean County, this Little Egg Harbor REALTOR® will tell you it’s different in every town:

Little Egg Harbor homes sale prices will not drop much further.

Tuckerton homes sale prices are the lowest they’ve been (median sale prices from the JerseyShoreMLS)

Barnegat homes sale prices are hard to read, because there are several different markets in Barnegat, the most activity is in the Barnegat 55+ communities.

Manahawkin home sales prices seem to have leveled out, depending on where you’re looking!

Every Town is Different…and as a local REALTOR® I can give you the bottom line on homes at the Jersey Shore!

I encourage you to check the town and listings you’re interested online, then contact Laura Giannotta,

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All Housing Market Trend Reports Are Not Equal!

Posted on February 28, 2012 by

All Housing Market Trend Reports Are Not Equal!

The Jersey Shore means many places to many people.  It could be a family vacation home on Long Beach Island or a bungalow in Ocean Gate.

Ask anyone who lives here, they won’t tell you I’m from north or south Jersey.  They’ll tell you they live ‘down the shore’.

This presents a problem when examining housing market trends in New Jersey.  Ocean County (my part of the Jersey Shore) is poorly represented in the data.

The National Association of Realtors (NAR®) uses local market trend reports, but how accurate are they?

Well consider NAR® reports only four categories for NJ housing market trends. 
·        The Atlantic City region, covering Atlantic County. 
·        The Newark-Union region which includes Essex, Hunterdon, Morris, Sussex, and Union counties.
·        The Trenton Ewing Region which covers only Mercer County. 
·        The Edison Region, which in addition to covering Ocean County, includes Middlesex, Monmouth, and Somerset counties.

Count them…only 11 counties.  Problem is that New Jersey has 21 counties.  Basing a housing market trend analysis on these mismatched groups is misleading.

That is the basic problem with national and regional housing market trend reports.  Ocean County at the Jersey Shore isn’t anything like Somerset County.  Everything from home prices, income and employment (or unemployment) is different.

The median home price in Somerset County in December, 2011 was $325,200 while it was $226,000 here in Ocean County.

If you further magnify the housing reports to focus on Little Egg Harbor at the Jersey Shore, the median home price was $157,200 at the end of 2011.

Little Egg Harbor 2011 Home Sale Prices

Little Egg Harbor NJ 2011 Housing Market

So if you’re thinking about moving to southern Ocean County at the Jersey Shore, call Little Egg Harbor REALTOR® Laura Giannotta at 609-384-6121.

Let’s look at the individual towns; Barnegat, Little Egg Harbor, Manahawkin or Tuckerton.  We’ll examine recent home sales, the homes for sale and determine the LOCAL housing market trends at the Jersey Shore. 

When we do, I think you’ll find this is a great time to purchase a home at the Jersey Shore!

Jersey Shore Housing Info

 

Subscribe to this blog, I’ll be examining market trends in Little Egg Harbor and other southern Ocean County communities!

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Little Egg Harbor Homes for Sale – January 2012 Housing MarketReport

Posted on February 21, 2012 by

Homes in Little Egg Harbor at the Jersey Shore are still selling, but not at the pace of one month ago. December, 2011 home sales in Little Egg Harbor were above average, but January home sales declined.

Activity Date:

New

Listings

  

Under

Contract

  

Expired

With

Sold

  

Days on

Market

Median
Sold

Dec 2011

32

 

27

 

44

14

20

 

142

$157,250

Jan 2012

57

 

22

 

40

8

14

 

174

$165,750

In January, 2011 only 10 homes sold in Little Egg Harbor, but the median price of those Little Egg Harbor homes sold in January 2011 was more than $15,000 over the $165,750 recorded last month.

So if you’re planning to buy a home in Little Egg Harbor, what are you waiting for? Are you afraid of prices declining further? Ask me about EquityLock, Home Price Protection™. It provides financial protection to homeowners in the event their home’s market value declines at the time they sell their home. If the market drops when the homeowner sells, EquityLock Solutions will pay the difference no matter what the home is sold for.

Learn more about how Keller Williams Atlantic Shore is working to protect home buyers with home price protection.

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Little Egg Harbor 2011 Housing Market Report

Posted on December 30, 2011 by

The housing market in Little Egg Harbor slowed in 2011, and prices decreased.  But the question most asked, “Have we hit bottom?”

First let’s look at the figures to date for the Little Egg Harbor Housing Market in 2011.

Little Egg Harbor – 08087

Ocean County, NJ

 

 Date:

New
Listings

Under
Contract

Expired

Sold

Avg
Sold $

Days on
Market

Median
Sold $

Jan 2011

54

12

41

10

$173,590

227

$180,250

Feb 2011

78

22

22

12

$150,417

121

$138,000

Mar 2011

95

29

33

17

$194,476

160

$187,000

Apr 2011

77

27

28

25

$188,056

220

$173,000

May 2011

85

21

26

22

$210,456

134

$205,000

Jun 2011

53

28

23

26

$184,308

167

$184,000

Jul 2011

56

32

30

27

$216,435

130

$210,000

Aug 2011

54

31

50

15

$151,182

116

$146,500

Sep 2011

55

32

48

21

$202,843

184

$201,800

Oct 2011

57

20

56

24

$171,385

192

$152,500

Nov 2011

55

28

40

20

$164,871

143

$152,900

Dec 2011

30

24

37

15

$191,413

145

$157,000

So in looking at these figures, I’m looking at a reduced sale price range from 2010, but also a decreased number of homes for sale listed on the market in Little Egg Harbor. 

It’s boring, but take a look at the 2010 figures.

   

 

Activity Date:

New
Listing

Under
Contract

Expired

Sold

Avg
Sold $

Days on
Market

Median
Sold $

Jan 2010

78

31

46

13

$200,388

130

$193,000

Feb 2010

60

21

39

17

$208,018

102

$225,000

Mar 2010

112

33

35

18

$183,250

150

$171,250

Apr 2010

85

34

20

18

$173,528

185

$181,500

May 2010

93

39

50

24

$196,804

101

$206,950

Jun 2010

64

16

35

38

$212,671

133

$212,500

Jul 2010

54

32

65

18

$193,039

138

$170,000

Aug 2010

71

22

53

15

$206,100

155

$185,000

Sep 2010

60

23

61

25

$213,342

158

$210,000

Oct 2010

50

18

62

18

$216,119

110

$204,500

Nov 2010

51

15

39

14

$188,414

159

$150,950

Dec 2010

19

16

37

19

$243,868

126

$250,000

 My read is that we’re ready for a rebound in real estate in Little Egg Harbor, NJ. 

But take note; there will not be the extraordinary yearly/monthly increases in value that we’ve seen.  I think there’s a leveling going on and we’ll see the traditional increases in property values in 2013, along the lines of 3% to 4%.

The unfortunate news for homeowners; that 3% to 4% increase is on your current value…not your assessed value or what you paid for the home.

If you’d like a current assessment of your home’s value Little Egg Harbor REALTOR® Laura Giannotta can provide a Comparative Market Analysis (CMA) to see how your home would be valued if it was for sale. Or if you’re stay put you might qualify for an appeal of your tax assessment. No guarantees, but I can provide that information to help YOU make the decision!

Laura Giannotta
Click on any of the links below to:
Search the Jersey Shore MLS
Find out about buying or selling a home at the Jersey Shore
Contact a Little Egg Harbor REALTOR®


 

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Little Egg Harbor’s Winding Run Development -

Posted on November 13, 2011 by

Little Egg Harbor’s Winding Run Development

The history of the Winding Run development in Little Egg Harbor at the Jersey Shore is an interesting one.

Kara Homes began construction at the height of the housing market. At times it seemed like the price point for these homes was increasing monthly. The sale price for these new homes topped out at almost a half million dollars.

The bottom fell out for Kara Homes, a New Jersey based development company in 2006, and they declared bankruptcy.  That was the beginning of the housing market decline in southern Ocean County.

The uncompleted homes were finished by another builder. But many Winding Run buyers, whose homes were not started, lost big.

The undeveloped portion of the small Winding Run development was then sold to Ryan Homes.  Ryan built and offered their own models. Those homes are smaller and were priced far below other new homes in the area. This has caused problems for home owners of Kara built homes, because along with the overall decline in home prices over the last several years, new homes could be had for far less. The result is short sale and REO’s.

There are currently 5 homes actively being marketed in Winding Run.  They are priced from $290,000 to $370,000.


As a result of Kara bankruptcy the roads are not properly paved and storm drainage system in the development is inadequate.  Little Egg Harbor has already claimed the Kara performance bond.

It’s unknown if or when or if the Township of Little Egg Harbor will step in to remedy the situation.

If you’d like more information on homes for sale in Little Egg Harbor at the Jersey Shore, contact Little Egg Harbor Realtor® Laura Giannotta at 609-384-6121.

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Little Egg Harbor – Daily Housing Market Report – October 22 – 24

Posted on October 24, 2011 by

There are 334 single family homes for sale in Little Egg Harbor today.

New Listings WF BR BA HB Listed @ DOM
306 Golf View No 3 2 0 $264,000 0
117 E Navasink Yes 3 2 0 $199,000 2
Price Canges WF BR BA HB Listed @ Previous $ DOM
972 Center No 5 3 1 $229,900 $260,000 77
261 Yorktowne No 2 2 0 $114,000 $125,000 18
Under Contract WF BR BA HB Listed @ DOM
33 Briarwood No 2 2 0 $170,000 87
49 Pinehurst No 2 2 1 $129,900 18

Little Egg Harbor Views has been updated, using a new format.  First you will find the addresses of the Little Egg Harbor Township homes for sale.  The sections (New Listings, Price Changes etc) are marked.  The following abbreviations are used
WF = Water Front
BR = Bedrooms
BA = Baths
HB = Half bath
$ = Price
DOM = Days on Market (Actively for sale)

If you’d like more information on homes for sale in Little Egg Harbor,  contact Little Egg Harbor REALTOR® Laura Giannotta , or call 609.384.6121.
Laura Giannotta
Click on any of the links below to:
Search the Jersey Shore MLS
View Daily Little Egg Harbor Housing Market Info
Find out about buying or selling a home at the Jersey Shore
Contact a Little Egg Harbor REALTOR®
See bank owned homes in Little Egg Harbor & Tuckerton 

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Little Egg Harbor Daily Housing Market Report – October 21, 2011

Posted on October 21, 2011 by

Little Egg Harbor – Daily Housing Market Report – October 21, 2011  

There are 330 homes for sale in Little Egg Harbor today.  Contact Little Egg Harbor Realtor Laura Giannotta if you have any questions about the housing market in southern Ocean County at the Jersey Shore!

New Listings WF BR BA HB List $ DOM
32 Daddy Tucker  Yes 3 2 0 $249,900 0
40 Daddy Tucker  Yes 3 2 0 $262,900 0
19 Bear Hollow Ln No 3 2 0 $199,900 2
428 W Calabreeze  No 3 2 0 $179,900 0
$ Changes WF BR BA HB List $ Previous $ DOM
29  Delaware  Yes 3 2 0 $166,872 $175,655 83
Sold WF BR BA HB List $ Closed $ DOM
111 Kadlubeck  No 4 1 0 $64,900 $64,900 174

Little Egg Harbor Views has been updated, using a new format.  First you will find the addresses of the Little Egg Harbor Township homes for sale.  The sections (New Listings, Price Changes etc) are marked.  The following abbreviations are used
WF = Water Front
BR = Bedrooms
BA = Baths
HB = Half bath
$ = Price
DOM = Days on Market (Actively for sale)

If you’d like more information on homes for sale in Little Egg Harbor,  contact Little Egg Harbor REALTOR® Laura Giannotta , or call 609.384.6121.
Laura Giannotta
Click on any of the links below to:
Search the Jersey Shore MLS
View Daily Little Egg Harbor Housing Market Info
Find out about buying or selling a home at the Jersey Shore
Contact a Little Egg Harbor REALTOR®
See bank owned homes in Little Egg Harbor & Tuckerton 


							

	
			

									
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