manahawkin real estate advice: Buying a Home in Manahawkin - 04/18/19 06:21 AM

For many prospective home buyers in Manahawkin, the down payment is the most daunting hurdle in the race to buy a home. Even for people with decent credit and a healthy paycheck, the down payment can be the great homeownership killer.
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The big question for all prospective buyers is: how much should my down payment be? Most lenders will tell you that 20 percent is the standard, but is that really necessary?
The short answer is no, but of course there are some caveats.
"It's a myth that all homebuyers must have a 20 percent down payment to buy … (0 comments)

manahawkin real estate advice: Know the Lingo of Home Buying in Manahawkin - 10/15/18 06:36 AM

Buying a home in Manahawkin can be puzzling if you don’t understand the lingo. Comprehending the jargon can make the search and transaction run a lot smoother.
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Here are some common real estate terms to know when getting ready to buy a home. For a more lighthearted look at real estate ad language, see What "As Is" and Other Real Estate Marketing Terms Really Mean. And for more obscure terminology, try searching Nolo's Legal Dictionary.
Some Highlights:
Buying a home in Manahawkin can be intimidating if you are not familiar with the terms used during the process. To start you on … (0 comments)

manahawkin real estate advice: Buyer’s Real Estate Market in Manahawkin? - 10/06/18 03:08 PM

Are we about to enter a buyer’s market in Manahawkin? Should you sell now?
Sale of Stafford Twp homes are slightly above last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers’ market after sellers have had the upper hand for the past several years. Is this really happening?
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In Manahawkin, the absorption rate is still well below equilibrium at 4.75 months with the median sale price increasing by 3.85% over the same time last … (0 comments)

manahawkin real estate advice: Supply of Homes for Sale in Manahawkin Impacts Demand - 10/02/18 08:48 AM

Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much (quantity) of a product is desired by buyers. Supply represents how much the market can offer. 
In Stafford Twp (Manahawkin) the absorption rate is 4.75 months, well below the 6-7 months for a “neutral market.” Average days on market (the time it takes for a home to sell) is down by over 27%. Sale prices have increase by over 4% and should continue to rise.
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The price … (0 comments)

manahawkin real estate advice: Lack of Listings Slowing Down the Manahawkin Housing Market - 07/23/18 09:05 AM

The absorption rate in in Stafford Twp is at 4.4 months; in a “neutral market” that rate would be between 6-7 months. The absorption rate is the rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the average number of sales per month by the total number of available homes. The figure shows how many months it will take to exhaust the supply of homes on the market.
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As the real estate market continues to move down the … (0 comments)

manahawkin real estate advice: May and June Best Months to Sell Your Manahawkin Home - 05/15/18 05:59 AM

If you’re thinking of selling your Stafford Twp Home, May and June are the best months to put your house on the market.
May of 2017 saw $13.8 million worth of homes sold in Manahawkin. June of 2017, $14.5 million worth of homes sold.
The previous year, 2016, $7.3 million worth of homes sold in Stafford Twp. In June of 2016, it was 12.5 million dollars’ worth of homes sold.
So far this month (May 15, 2018), $5.2 million dollars’ worth of homes have sold… it could be much more, but there is a severe inventory shortage.
 What’s Your Manahawkin Home Worth?
According to a newly … (0 comments)

manahawkin real estate advice: Sell Your Manahawkin Home This Spring - 03/04/18 10:22 AM

4 Reasons to Sell Your Manahawkin Home This Spring. 
With the housing inventory so low in Manahawkin, now is a great time to put your home on the market. The absorption rate is 3.54 months – that’s well below the 6-month mark that indicates a seller’s market.
What’s Your Manahawkin Home Worth?
 
 
Some Highlights:
Buyer demand continues to outpace the supply of homes for sale in Manahawkin which means that buyers are often competing with one another for the few listings that are available! Manahawkin housing inventory is still under the 6-month supply needed to sustain a normal housing market. Perhaps the time has … (0 comments)

manahawkin real estate advice: Are Manahawkin Home Values Over Inflated? - 03/02/18 07:55 AM

The average Manahawkin home sale price rose by over 9% in 2017, prompting some to question whether Manahawkin home values may be overinflated (median sales price rose by 5.94%). Let’s look at national trends to get an idea of how Manahawkin compares to the national market.
What’s Your Manahawkin Home Worth?
Last week, the National Association of Realtors (NAR) released their most recent Existing Home Sales Report. According to the report:
“The median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300). January’s price increase marks the 71st straight month of year-over-year gains.”
Seventy-one consecutive months of price increases may have some … (1 comments)

manahawkin real estate advice: Manahawkin Housing Market Out of Balance - Pushing Prices Higher - 02/20/18 05:42 AM

The lack of housing inventory in Manahawkin is pushing prices even higher. 
In Manahawkin, the absorption rate is down to 3.45 months – anything less than 6 months is considered a “seller’s market.” Sold listings is down by over 30%, not because there’s a lack of demand, but because there’s a lack of supply; active listings are down by 10.6% and new listings (added in January) are down by 18.4%. That has resulted in an increase in home prices.
What’s Your Manahawkin Home Worth?
According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks … (0 comments)

manahawkin real estate advice: Millennials are Buying Homes in Ocean County! - 02/01/18 04:03 AM

Millennials are forming new households, moving to the suburbs, buying furnishings and SUVs. According to Zillow Group data, people aged 18 to 34 have become the largest group of homebuyers in the U.S.
Ocean County First Time Home Buyer Programs
When it comes to talking about millennials, there are many stereotypes out there that have influenced the way the public feels about the generation. Whether it’s the assumption that millennials are irresponsible with money and would rather buy avocado toast than save for a down payment, or that millennials jump from job to job, the majority of these stereotypes paint the generation in … (2 comments)

manahawkin real estate advice: Get a Professional on Your Manahawkin Home Buying Team - 01/24/18 04:41 AM

There are many reasons why you need a professional on your team when buying a home in Manahawkin
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Many people wonder whether they should hire a real estate professional to assist them in buying their dream home in Manahawkin or if they should first try to go through the buying process on their own. In today’s market: you need an experienced professional!
You Need an Expert Guide If You Are Traveling a Dangerous Path
The field of real estate is loaded with landmines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home … (0 comments)

manahawkin real estate advice: Buying or Selling A Home in Manahawkin? - 12/30/17 10:59 PM

Thinking of Buying or Selling a Home in Manahawkin? Hire a Professional!
Manahawkin Homes
As we usher in the new year, one thing is for certain… if you plan to buy or sell a house this year, you need a real estate professional on your team! There are many benefits to using a local professional! Pick a professional who knows your local market and can help you achieve your dreams! As always, thank you for your time and feel free to get in touch if you have any questions about buying, selling or investing in real estate in Manahawkin. Karl Hess, Keller Williams … (2 comments)

 
Karl Hess, on The Jersey Shore (Keller Williams Shore Properties) Rainmaker large

Karl Hess

on The Jersey Shore

Barnegat, NJ

More about me…

Keller Williams Shore Properties

Address: Keller Williams Ocean County, Toms River, NJ, 08753

Office: 732.797.9001 ext 824

Mobile: 609.553.7926

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