Articles Tagged "Real Estate Market Prices"
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25
Why the Stock Market Correction Probably Won't Impact Home Values
Why the Stock Market Correction Probably Won't Impact Home Values
With the housing crash of 2006-2008 still visible in the rear-view mirror, many are concerned the current correction in the stock market is a sign that home values are also about to tumble. What's taking place today, however, is nothing like what happened the last time. The S&P 500 did fall by over fifty percent from October 2007 to March 2009, and home values did depreciate in 2007, 2008, and 2009 – but that was because that economic slowdown was mainly caused by a collapsing real estate market and a meltdown in the mortgage market.
This time, the stock market correction is being caused by an outside event (the coronavirus) with no connection to the housing industry. Many experts are saying the current situation is much more reminiscent of the challenges we had when the dot.com crash was immediately followed by 9/11. As an example, David Rosenberg, Chief Economist with Gluskin Sheff + Associates Inc., recently explained:
"What 9/11 has in common with what is happening today is that this shock has also generated fear, angst and anxiety among the general public. People avoided crowds then as they believed another terrorist attack was coming and are acting the same today to avoid getting sick. The same parts of the economy are under pressure ─ airlines, leisure, hospitality, restaurants, entertainment ─ consumer discretionary services in general."
Since the current situation resembles the stock market correction in the early 2000s, let's review what happened to home values during that time.
The S&P dropped 45% between September 2000 and October 2002. Home prices, on the other hand, appreciated nicely at the same time. That stock market correction proved not to have any negative impact on home values.
Bottom Line
If the current situation is more like the markets in the early 2000s versus the markets during the Great Recession, home values should be minimally affected, if at all. Real estate sales in Ocean County New Jersey are encouraging to both sellers and buyers of real estate.
15
How To List Your Home for the Best Price
How To List Your Home for the Best Price
If your plan for 2019 includes selling your home, you will want to pay attention to where experts believe home values are headed. According to the latest Home Price Index from CoreLogic, home prices increased by 4.7% over the course of 2018.
The map below shows the results of the latest index by state.
Real estate is local. Each state appreciates at different levels. The majority of the country saw at least a 2.0% gain in home values, while some residents in North Dakota and Louisiana may have felt prices slow slightly.
This effect will be short lived. In the same report, CoreLogic forecasts that every state in the Union will experience at least 2.0% appreciation, with the majority of the country gaining at least 4.0%! The prediction for the country comes in at 4.6%. For a median-priced home, that translates to over $14,000 in additional equity next year! (The map below shows the forecast by state.)
So, how does this help you list your home for the best price?
Armed with the knowledge of how much experts believe your house will appreciate this year, you will be able to set an appropriate price for your listing from the start. If homes like yours are appreciating at 4.0%, you won't want to list your home for more than that amount!
One of the biggest mistakes homeowners make is pricing their homes too high and reducing the price later when they do not get any offers. This can lead buyers to believe that there may be something wrong with the home, when in fact the price was just too high for the market.
Bottom Line
Pricing your home right from the start is one of the most challenging parts of selling your home. Once you decide to list your house, let's get together to discuss where home values are headed in your area!
We list and sell home in all of Ocean County New Jersey. Some of the more popular locations we sell homes are in Point Pleasant, Brick, Toms River, Forked River, Beachwood, Berkeley Twp, Bayville, Waretown, Barnegat, Lacey Township, Manahawkin, Tuckerton, Little Egg Harbor and Long Beach Island, New Jersey.
3
Selling Your Home? Price It Right From The Start!
In today's market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them.
There is no "later."
"Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price."
A better strategy would be to price it properly from the beginning and bring in multiple offers. This forces these buyers to compete against each other for the "right" to purchase your house.
Look at it this way: if you only receive one offer, you are set up in an adversarial position against the prospective buyer. If, however, you have multiple offers, you have two or more buyers fighting to please you. Which will result in a better selling situation?
The Price is Right
Great pricing comes down to truly understanding the real estate dynamics in your neighborhood. Let's get together to discuss what is happening in the housing market and how it applies to your home.
You need an agent that will tell you what you need to know rather than what you want to hear. This will put you in the best possible postion to sell you real property.
Homes for sale in Bayville NJ
Homes for sale in Point Pleasant NJ
Homes for sale in Toms River NJ
Homes for sale in Brick NJ
Homes for sale in Jackson NJ
Homes for sale in Mahanhawkin NJ
Homes for sale in Forked River NJ
Homes for sale in Little Egg Harbor NJ
Homes for sale in Waretown NJ
Homes for sale in Lakewood NJ
Homes for sale in Ocean Gate NJ
Homes for sale in Beachwood NJ
Waterfront Homes and Real Estate For Sale in Ocean County
30
June 2015 Market Performance Update for Ocean County, NJ
Ocean County Real Estate Market Performance Update
June 2015
The upward trend of unsold inventory appears is starting to level off while at the same time last year it was still trending upward. This years contract sales are ahead of last year and the trend line is level. Lower unsold inventory and non declining sales are is good news for home prices.
Near the conclusion of June there was a 6.3 month supply of homes to be sold. That is down from the January high of 8.6 months.
The indicators appear to show the state of the real estate market in Ocean County New Jersey is improving. This is of course good news also for home owners who recently purchased.
Keep in mind that the majority of American's gain wealth from home ownership.
550 Brick Blvd.
Brick, NJ 08723
(732) 477-2000Forked River Office
1055 Lacey Road
Forked River, NJ 08731
(609) 693-1500Point Pleasant Office
219 Bridge Ave.
Point Pleasant, NJ 08742
(732) 295-1400Toms River Office
179 Route 37 West
Toms River, NJ 08755
(732) 341-6767Ship Bottom LBI Office
1120 Long Beach Blvd.
Ship Bottom, NJ 08008
(609)494-6622Tuckerton-Little Egg Harbor Office
600 North Green Street
(Route 539)
Little Egg Harbor, NJ 08087
(609) 296-7111Silver Ridge Office
1 Fort De France Ave.
Toms River, NJ 08723
(732) 244-8093
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