home prices: Home Prices Going Up?
- 07/16/19 06:58 AM
We're Realtors (R). Not market forecasters. But we read market forecasters with the same enthusiasm our snow removal guy reads weather forecasts. Here's what they're saying. Six market forecasters -including Freddie Mac and Fannie Mae as well as the National Association of Realtors, the Mortgage Bankers Association and the Home Price Expectation Survey - are predicting a 2.8-4.7% in home prices for the second half of 2019 and another 2.8-3.5% increase for 2020. This is a great time to make an investment in real estate and a great time for first time home buyers getting in to the market!
Originally published at https://www.simplifyingthemarket.com/en/2019/07/15/home-price-appreciation-forecast/?a=35742-bef8b4dd4fe17628f3c756ee9011ef24 … (9 comments)
home prices: Mountainside Real Estate Market Report - July 2015
- 07/06/15 02:01 AM
Before you buy or sell a home in Mountainside, your first step is to understand how the real estate market is performing. Here's what you need to know this summer. Inventory: There are currently 50 single family homes offered for sale in Mountainside. This is an unusually low inventory for the beginning of summer. Low inventory sometimes results in an increase in prices. There were 8 homes sold in June in Mountainside.
Prices: The average sale price of a home in Mountainside in June of 2015 was $698,681. This is 11% higher than the 12 month average of $625,728 and the highest … (1 comments)
home prices: Linden Real Estate Market Report - July 2015
- 07/05/15 11:50 PM
Before you buy or sell a home in Linden, your first step is to understand how the real estate market is performing. Here's what you need to know this summer. Inventory: There are currently 279 single family homes offered for sale in Linden. This is a higher inventory than we normally see in June. Increased inventories tend to cause a decrease in prices. There were 21 homes sold in June of 2015.
Prices: The average price of a home sold in Linden in June was $224,043. about 4% higher than the 12 month average of $215,276. Sellers who want to get top … (0 comments)
home prices: Fanwood Real Estate Market Report - July 2015
- 07/04/15 11:39 PM
Before you buy or sell a home in Fanwood, your first step is to understand how the real estate market is performing. Here's what you need to know this summer. INVENTORY: There are currently 49 single family homes offered for sale in Fanwood. It's evident in examining this graph that inventory increases every summer and decreases in the winter in Fanwood. There were 8 homes sold in Fanwood in June.
PRICES: The average home sold in Fanwood in June was sold for $452,750 which is about 3% higher than the 12 month average of $440,209. The average sale price in June of the … (2 comments)
Inventory: There are currently 132 homes offered for sale in Cranford. This summer has seen the highest inventory in Cranford in several years. Higher inventory sometimes leads to a decrease in prices. There were 22 homes sold in Cranford in June.
Prices: The average price of a home sold in Cranford in June was $470,048. This is about 9% higher than the twelve month average sale price. May of 2015 had an average sale price … (3 comments)
home prices: Clark Market Report - July 2015
- 07/04/15 03:48 AM
Clark, NJ is home to 15,000 people and was incorporated as a township in 1864. Clark was named for Abraham Clark, a signer of the Declaration of Independence. Before you buy or sell a home in Clark, your first step is to understand how the real estate market is performing. Here's what you need to know this summer. Inventory: There are currently 54 single family homes offered for sale in Clark which is lower than we normally see in the summer. A lower inventory might boost prices. Twelve homes were sold in June, just under the 12 month average of 14 homes and lower than we … (3 comments)
But you’re scared. You’ve heard that interest rates and home prices are at an all-time low, and you think they might still go lower. So you pass on the dream home. Fast forward to August 2013. Another perfect home. Everything you want, pre-approved for the price, you love it.
How much more are you going to pay today for the home you could have bought last year? Ignoring the fact that home prices have gone up over the … (3 comments)
home prices: Kenilworth Real Estate Market Report - August, 2013
- 08/15/13 05:25 AM
Kenilworth, NJ, is located in the heart of Union County and is home to nearly 8000 people. Harding Elementary School holds students from Pre-K to sixth grade, David Brearley Middle School holds grades 7 and 8 and David Brearley High School holds students in grades 9-12 from Kenilworth and Winfield Township. Kenilworth also has St. Theresa's which is a Roman Catholic elementary school. There were 43 homes offered for sale in Kenilworth in July. This is the largest inventory available in Kenilworth since April of 2012. Five homes were sold in Kenilworth in July.
Despite a high inventory, homes in Kenilworth have been … (0 comments)
home prices: Garwood Real Estate Market Report - August, 2013
- 08/13/13 09:09 PM
Garwood is a borough in southern Union County and is home to roughly 7000 residents. The 400 elementary students in Garwood all attend Lincoln School. Garwood high school students join Clark students at Arthur L. Johnson High School in Clark. At the end of July, there were 14 homes for sale in Garwood and 3 homes had been sold in July. This represents a 22% reduction in inventory since June and a 36% reduction in inventory as compared to April of 2012.
Real Estate Professionals judge the strength of a real estate market based upon the Months of Supply in the area. This … (5 comments)
home prices: Clark Real Estate Market Report - August, 2013
- 08/05/13 10:14 PM
Clark is a charming town in Union County, home to nearly 15,000 people. It has a wide variety of restaurants and coffee shops as well as shopping centers. Clark residents who work in New York City have an easy commute.
At the end of July, there were 88 homes listed for sale in Clark and 11 homes had sold in July. This leaves 5 months of inventory in Clark. Real Estate Professionals judge the strength of a real estate market based upon the Months of Supply in the area. This number tells you how many months it would take for all the current homes … (2 comments)
home prices: Buying or Selling a Home in Rahway, NJ
- 01/12/13 07:45 AM
Rahway, NJ is a city in southern Union County and is home to nearly 28,000 people. The area was once the home of the Lenni Lenape Native Americans and the city was named for a local tribal chief whose name was Rahwack. The corner of St. Georges Avenue and Westfield Avenue was the site where George Washington met troops from Elizabeth and Newark during the Revolutionary War. Another interesting thing you may not have known about Rahway are that it was the location where the first coin bearing the words E pluribus unum was coined.
Rahway public school children … (2 comments)
home prices: Short Sale No More!
- 07/16/12 10:33 AM
700,000 homes that WERE underwater aren't any more says an article this week in CNNMoney. As home prices improve, homes are worth more than they were. Of the homeowners that owed more than the home was worth in the first quarter of 2012, 700,000 are no longer in that position. 25.2% of all mortgage borrowers were underwater at the end of December, 2011. Three months later, only 23.7% of all mortgage borrowers were underwater. That's a difference of 700,000 homes.
Related information: Dear TZ - I owe more than my home is worth! What should I do? The difference between Judicial and … (1 comments)
home prices: Mortgage Rates Still Dropping!
- 07/05/12 09:28 AM
If you don't already own your own home in Union County, mortgages have never been cheaper. Freddie Mac just announced record breaking low rates. For a 30 year fixed rate mortgage, the rate is 3.62%. For a 15 year fixed rate mortgage, the rate is 2.89%. To help you figure out how much that means on the home you want to buy, use a mortgage calculator like this one. But that's not even the best news! Some banks offer homebuyers the option to pay points on their mortgage for an even lower rate.A point, which is equal to 1% of the … (2 comments)
We're Realtors (R). Not market forecasters. But we read market forecasters with the same enthusiasm our snow removal guy reads weather forecasts. Here's what they're saying.
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