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NJ: Monmouth County Sales Surge 18%

JUNE: Monmouth County Real Estate Metrics
2014 2015 +/- %
New Listings 1,096 1,198 + 9.3%
Closed Sales 523 617 + 18.0%
Days on Market 72 65 - 9.7%
Median Price $415K $415K 0.0%
% of Price Rec’d 96.1% 96.5% + 0.4%
Inventory 4,525 4,024 - 11.1%
Months of Inventory 10.7 8.8 - 17.8%

JUNE: Ocean County Real Estate Metrics
2014 2015 +/- %

NJ: Monmouth County Sales Surge 18%

JUNE: Monmouth County Real Estate Metrics
2014 2015 +/- %
New Listings 1,096 1,198 + 9.3%
Closed Sales 523 617 + 18.0%
Days on Market 72 65 - 9.7%
Median Price $415K $415K 0.0%
% of Price Rec’d 96.1% 96.5% + 0.4%
Inventory 4,525 4,024 - 11.1%
Months of Inventory 10.7 8.8 - 17.8%

JUNE: Ocean County Real Estate Metrics
2014 2015 +/- %

Home Ownership Slips; Households Climbs

The U.S. Commerce Department reported that homeownership rate continued to decline in the second quarter of 2015, hitting a 48-year low to the seasonally adjusted rate of 63.5%, down from 64.7% in the second quarter of 2014. This is the country’s lowest homeownership rate since 1967.

This announcement followed the figures reported for the first quarter of 2015 the homeownership rate hit its lowest level since 1989.

The number of total households in the United States grew to 117 million in the second quarter of 2015, up from 115 million in the second quarter of 2014

Black Knight Home Price Index Puts NJ #3 in Price Growth

The recent Home Price Index by Black Knight Financial calculates that home prices are approaching new all-time highs. Last week the National Association of Realtors also reported that they matched or even exceeded Black Knight's findings.

According to the National Association of Realtors’ report, rising demand and shrinking supply, the median existing-home price for all housing types reached an all-time high in June.

Housing Wire Reports: Sen. Ted Cruz introduces bill to abolish CFPB

Housing Wire reported that Senator Ted Cruz has introduced a bill to abolish the CFPB.

The Consumer Financial Protection Bureau, which celebrated its fourth birthday earlier this week, won’t see its fifth birthday if Sen. Ted Cruz, R-TX, has his way.

Cruz, along with Rep. John Ratcliffe, R-TX, introduced a bill in Congress this week that would abolish the CFPB, an agency that Cruz says does not stand up to its name.

“Don't let the name fool you, the Consumer Financial Protection Bureau does little to protect consumer,” Cruz said in a release.

A Law Firm’s Quick Marketing Checklist

Marketing legal services in this fast-moving business environment is a challenge to say the least.

Lawyers find it distasteful to ‘market’ themselves. They are not sure which venues and platforms are best to get their practice in front of prospects.

One: according to most businesses, your marketing budget needs to be between 2-5 percent of your gross billings. This budget includes networking, lunches, email marketing and network association memberships.

Existing Home Sales Hit New All-Time High

According to the National Association of Realtors’ report, rising demand and shrinking supply, the median existing-home price for all housing types reached an all-time high in June.

The National Association of Realtors told us what we all knew: the median existing-homes sales price hit an all-time high when it hit $236,400. This establishes a new benchmark for the industry, which exceeded the median sales price set in July 2006 of $230,400.

Other Reported Facts
■ June’s total also rose 6.5% above June 2014
■ June marked the 40th straight month of year-over-year price gains

CNBC: U.S. Real Estate Market is Still Cheap

According to a report on CNBC, the U.S. real estate market, on a world-wide basis, is cheap compared to places like Hong Kong, Monaco, and other major markets.

Money according to this report sees money to continue to pour into the U.S. from around the world.

New YouTube Features Added to Improve Its Video Platform

There are more than 4 billion videos viewed daily on YouTube; and this number most likely will increase, if YouTube as anything to do with it. Clearly, the user experience is not driving away visitors.
The video destination platform is rolling out a number of new features which it hopes to improve the experience of its viewers.

1. An Improved Comment Function
Authentic comments are encouraged, but junk comments are a distraction the majority of users,. The new ranking system will be designed to lower the visibility of junk comments for a cleaner layout.
2. Subscriber Notifications

Motivation Monday: YouTube on Body Language

Ted Talks: Amy Cuddy: Your body language shapes who you are.

Link: https://youtu.be/Ks-_Mh1QhMc

If you have any questions about this post or title insurance, please contact Ralph Aponte at 732.914.1400.

Ralph Aponte
President & Founder