home prices: Absecon NJ 2009 Home Sales. How Many Homes Sold Each Month - 12/01/09 07:02 AM
Currently there are 91 homes for sale in Absecon, NJ.  Here is a list of the number of homes sold each month so far this year.
Month        Homes Sold
January       4
February     2
March         4
April           3
May           1
June          9
July           6
August       4 
September 4
October     5
November  6
 
From January to November there was an average of 4.4 homes sold per year.  In the last three months an average of 5 homes has sold each month.
That means at the current rate of absorption it would take 18.2 months to sell all of the homes currently for … (0 comments)

home prices: Atlantic County Average Sale Price Of Homes Over Past Nine Years. - 10/30/08 08:38 AM

9 Year Average Sale Price - Upload a Document to Scribd This graph shows the price changes over the last 9 years in Atlantic County. Home prices reached their peak in 2006 at $279,418. You can see a big drop from 2007 to the third quarter of 2008. Prices are now somewhere between 2004 and 2005 levels.
The bad news for sellers is that if they bought at the peak their homes are now worth less. The good news is that affordability for home buyers is returning.
Best wishes,
Matt
*Information is gathered from the SOUTH JERSEY SHORE REGIONAL MLS. … (0 comments)

home prices: Atlantic City Area Homes Sold For A Loss From 2001 to 2008 - 09/06/08 01:12 AM
I got this graph from Zillow and it shows an interesting picture of the percentage of homes sold for a loss since 2001.  AS you can see the percentage sold at a loss has increased greatly since 2007 and is at it's highest percentage in 2008.  Many home owners who bought in the last few years have negative equity in their homes.  Now if they have to sell they are either bringing money to the closing, going through a short sale or a foreclosure.
We have solutions to help people who are in a negative equity situation and may be forced … (0 comments)

home prices: Atlantic City Area Owner Equity, Down Payment, And Median Home Value 2000 to 2008 - 09/06/08 01:04 AM
Here is another great graph that I got from Zillow giving an overall picture of our market.  The blue line shows a change in home values.  The light green bar shows positive median owner equity.  And the small dark green bar shows the median down payment. 
The positive thing to me is that many people still have positive equity in their home even if they bought at the peak.  Unfortunately on the other hand, many people do not have positive equity in their home.  Many have negative equity and owe more on their house than what it's current market value is. … (0 comments)

home prices: Atlantic City Area Negative Equity 2000 to 2008. Do you have negative equity? - 09/06/08 12:51 AM
Here is a great graph from Zillow showing the negative equity of owners who purchased a home in a given year from 2000 to 2008.  It also shows their down payment as well.
As you can see owners who purchased in 2004 to 2008 have a good chance of having negative equity in their home.  Current home prices are now at or near 2004 or 2005 prices in many cases.  It is also interesting to take a look at the median down payment.  The years for the lowest down payment were 2006 and 2007.  Those years also have the highest percentage … (0 comments)

home prices: Atlantic City Metro Area Home Value Appreciation From 2000 to 2008 - 09/05/08 12:31 AM
First of all I have to say that Zillow does not always provide accurate individual home value information and please contact me at 609-916-7342 to get a value of your home.  However they do have some valuable tools to look at the big picture of what is going on in the market.  Here is a graph from their site on the Atlantic City market.
As you can see home values peaked around 2006 and have been dropping since then.  If you look at the chart from an appreciation view you can see that even with the decline in value, home prices … (0 comments)