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Ocean & Monmouth County Single-Family Sales Jump Pt. 2

Prices reflect an easing from the hot market of 2013. The improvement came as a result of very low interest rates, improved employment and reduction in borrowing costs.

It is very possible that the current economic climate of low interest rates, cheap gas and still lower than expected housing inventory will push prices higher for the first two quarters of 2015.

• Single Family Closed Sales increased 8.2 percent to 5,770.
• Townhouse-Condo Closed Sales increased 11.8 percent to 1,892.
• Adult Communities Closed Sales increased 7.6 percent to 611.

Ocean and Monmouth County Single Family Sales Jump

New Jersey Closed Sales Jumps 9.2% Change from 2013.

Single Family Homes for Ocean County - December
New listings climbed in December to 618, up 9.2 percent from 566 in 2013.
Closed sales also climbed to 554, up 6.7 percent from 519 in 2013.
Days on market fell slightly to 117 days, from 120 days in 2013.

Single Family Homes for Monmouth County - December
New listings climbed in December to 449, up 11.7 percent from 402 in 2013.
Closed sales also climbed to 442, up 12.5 percent from 393 in 2013.
Days on market increased slightly to 99 days, from 89 days in 2013.

Counsellors Title Agency to Close January 27 Due to Blizzard

In light of Governor Chris Christie declaring state of emergency for N.J. due to the Blizzard of 2015, Counsellors Title Agency will be closed Tuesday, January 27.

It anticipates reopening on Wednesday January 28.

2015 Trend Watch Pt. 4

Millennials
The Millennium generation, those born between 1981 and 2000 are expected to leave their parent’s home and begin to take the plunge into the real estate market. Millennials make up around 65% of the first time home buyers according to Jonathan Smoke, chief economist for real realtor.com.

As first-time buyers, Millennials are still struggling to pay off student loan debt and are finding good paying jobs very hard to come by. Still, the Millennial Generation represents the largest population segment since the baby boomer generation.

Paul Hoyt Joins Counsellors Title Agency

Paul Hoyt comes to Counsellors Title with experience as title producer and loan officer with one of the state’s largest national banks.

Paul's territories will include all 21 New Jersey counties, with a concentration on Monmouth, Ocean, Middlesex, Mercer, Burlington and Somerset counties.

Paul is a life-long New Jersey resident, father, coach and athlete.

He has worked within the real estate industry for nearly a decade, which includes Wells Fargo, as well as a licensed title producer. He holds an Associates degree from Ocean County College.

Home Buying & Real Estate Professionals

Fast Facts for Realtors®

+ Eighty-eight percent of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69 percent in 2001.
+ Forty percent of buyers found their agent through a referral from a friend or family member and 12 percent used an agent they had used before to buy or sell a home.
+ Two-thirds of recent buyers only interviewed one agent before the found the agent they worked with.

Ralph Aponte, President
Counsellors Title Agency

Home Search Process Facts

Results from National Association of Realtors® 2014 report

+ For 43 percent of home buyers, the first step in the home-buying process was looking online for properties and 12 percent of home buyers first looked online for information about the home buying process.
+ Ninety-two percent of buyers use the internet in some way in their home search process and 50 percent of buyers use a mobile website or application in their home search.
+ Real estate agents were viewed as a useful information source by 98 percent of buyers who used an agent while searching for a home.

John DeSantis Joins Counsellors Title Agency

Congratulations to John DeSantis, Jr. in joining Counsellors Title Agency.

http://www.slideshare.net/TitleInsurance/cta-pr-desantis-1-1515-a

Trends to Watch in 2015 Pt. 3

Inventory Grows
Inventory for the past few years has been sparse to say the least. This is likely to change in 2015. Non-distressed real estate inventory will continue to rise, providing a broader range of selection to buyers and sellers.

Inventory will increase due to: the increase of sellers, growing home values, home equity coming back to owners, builders ramping up production of smaller homes, construction of no frills housing and the strong return on investment from the 2014 stock market.

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