Newsletter

Join Our Mailing List
Email:
For Email Marketing you can trust

Mortgage Rates



Mortgage Rates



Current Mortgage Rates


Get Widgets

News

Follow us

     

Video Message

Place An Order Today

                

Attorney Settlement Assistance Program

Closing Services for Attorneys, Lenders and Realtors.
Check out ASAP

S&P/Case-Shiller Reports 6.2% Home Growth

According to S&P/Case Shiller, home growth rates grew 6.2 percent nationwide over the last twelve months for the period ending in June.

The numbers for the 20 largest U.S. cities were higher as well, coming in at 8.1 percent.

July’s new homes sales were up 12.3 percent from the previous year.

Many of the analysts see housing nationally approaching normal levels.

Ralph Aponte
President
Counsellors Title Agency

S&P/Case-Shiller Reports 6.2% Home Growth

According to S&P/Case Shiller, home growth rates grew 6.2 percent nationwide over the last twelve months for the period ending in June.

The numbers for the 20 largest U.S. cities were higher as well, coming in at 8.1 percent.

July’s new homes sales were up 12.3 percent from the previous year.

Many of the analysts see housing nationally approaching normal levels.

Ralph Aponte
President
Counsellors Title Agency

S&P/Case-Shiller Reports 6.2% Home Growth

According to S&P/Case Shiller, home growth rates grew 6.2 percent nationwide over the last twelve months for the period ending in June.

The numbers for the 20 largest U.S. cities were higher as well, coming in at 8.1 percent.

July’s new homes sales were up 12.3 percent from the previous year.

Many of the analysts see housing nationally approaching normal levels.

Ralph Aponte
President
Counsellors Title Agency

The Real Estate Market Continues Moving Forward

Sales of previously-owned homes in July rose for the fourth straight month, hitting its highest pace in 2014, according to data released by the National Association of Realtors.

Sales of existing-homes–which include single-family homes, townhomes, condominiums and co-ops–climbed 2.4 percent to an annual (seasonally adjusted) pace of 5.15 million in July.

Another positive sign is the number of houses for sale is higher than a year ago.

That marks the first time the market share of distressed properties has dropped to single-digits since NAR started tracking them in October 2008.

Realtor.com Reports Best Price Bump in 3 Years

Realtor.com is touting data from July showing that, by its metrics, July shows the best price appreciation and inventory increases hit during the peak spring buying season in three years.

The website Realtor.com posted encouraging data indicating that on a national basis, the number of homes on the market increased 2.3 percent, this is compared to 2013. But the real bump was seen in June, where inventory increased a whopping 4.5 percent over June on a month-to-month basis.

Another healthy sign was seen in the 7.5 percent increase to median list prices, year-over-year.

National Association of Realtors Wants to Block Merger

According to the New York Post and other sources, the National Association of Realtors wants the FTC to block the Zillow and Trulia merger.

It appears the concern is that the current configuration could possibly eclipse and overshadow NAR’s own realty site: Realtor.com, thus creating a monopoly that could penalize real estate professionals with high fees for listings.

But this action looks like a logical step for NAR to take, considering how the digital landscape has suffered from the independent launches of Trulia and Zillow over the last few years.

Employment in New Jersey Improves Slowly

New Jersey’s unemployment figures continue to improve, according to the U.S. Bureau of Labor Statistics [BLS] data.

New Jersey added 5,700 jobs in July and its unemployment rate dropped to 6.5 percent.

The BLS reported that in July private-sector employment grew by 8,500 jobs, while public-sector employment fell by 2,800 jobs. It was the fifth month in a row that private-sector employment grew.

In total, New Jersey has gained 149,400 jobs since February 2010: the low-water mark for the recession. The State has recovered only 47 percent of the jobs it lost in the recession.

Median Home Prices Rise in Ocean & Monmouth Counties

The median price of a single-family home in Monmouth County was up to $420,000, up 4.7 percent from 2013 according to the New Jersey Association of Realtors [NJAR].
The median price of a single-family home in Ocean County also rose by 4.2 percent to $275,000 as compared to 2013, according to the same report.

Concomitantly, NJAR reported that the number of sales fell for both Monmouth County and Ocean County; in Monmouth by 9.7 percent and 4.2 percent in Ocean County.

What’s slowing things down?
+ Extra regulatory protocols
+ Inventory shortage

Jersey Facts: The Garden State

New Jersey, known as the Garden State, represents approximately 790,000 acres, or 16.7% of productive farmland. The state ranks high in the production of almost all garden vegetables, as well as blueberries, cranberries, and peaches. Poultry, dairy products, and seafood are also top commodities.

1. Blueberries, $80.8 million (6th in the nation)

Shore Businesses Enjoy a Summer Bounce

According to an article in The Coaster, many New Jersey shore businesses are enjoying a robust burst of business. (I can verify this by the traffic that is crazy.)

The fact that July didn’t have a single rainy weekend should be proof positive that the revenue was equally sunny for all the Shore businesses.

This is also seen in the number of beach passes sold, which might bring a boost of over 20 percent over last year’s revenues. The Coaster reported that Asbury Park’s beach pass revenue spiked over $215,000 over last year alone.