Barnegat, NJ Real Estate News

By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Thinking of selling your Barnegat home? Here’s why you need a pro in your corner.With Barnegat home prices on the rise and buyer demand still strong, some sellers may be tempted to try and sell their homes on their own without using the services of a real estate professional.What’s Your Barnegat Home Worth?Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.Here is a list of just some of the people with whom the seller must be prepared to negotiate with if they decide to For Sale by Owner (FSBO): The buyer who wants the best deal possible The buyer’s agent who solely represents the best interests of t...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
  Barnegat School District PARCC Test Scores have been released. Remember, these test results are for the state of NJ, which consistently ranks in the top 3 best educated states in the country. To clarify, even mediocre test scoress in NJ could rank very high nationally.These tests are designed to better replacements for old versions of state tests because they provide better information about students' skills and development to teachers and parents. In a nutshell, these examinations are meant to evaluate college and career readiness starting at a young ageThe Partnership for Assessment of Readiness for College and Careers (PARCC) is a group of states working together to develop a set of assessments that measure whether students are on track to be successful in college and careers.Under...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Is the increase in the Barnegat housing inventory a bullish or bearish sign for real estate?In a recent article, National Housing Inventory Crisis Reaches Inflection Point, realtor.com reported that: In Barnegat, new listings are up 36.8% over the same time last year. Nationally, new listings jumped 8% year-over-year nationally, the largest increase since 2013 Total listings in Barnegat are up 37.7% over the same time last year.  Total listings in the 45 largest markets are now up 6% on average over last year Search for Homes in BarnegatThis increase in housing inventory has sparked two different reactions. Some are saying this is the first sign of a potential collapse while others are saying it is a welcomed reprieve from the lack of inventory that has stalled the market recently. As Z...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Barnegat home sales are up 38.9% year to date in comparison to 2017. Nationally, new construction home sales are up 12.7%. What’s Your Barnegat Home Worth? Get a Free, Instant ValuationAccording to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July).The report also showed that builders have ramped up construction with an increase in new construction starts and completions. The summer months are often a busy time for builders as they capitalize on the warmer weather to be able to finish projects.Below is a table showing the change in starts, completions, and sales from last August.Other notable news f...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Thinking of buying or selling a home in Barnegat? Here are 2 factors to watch in today’s Barnegat real estate market. When it comes to buying or selling a home in Barnegat there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. When it comes to today’s real estate market, though, the top two factors to consider are what’s happening with interest rates & inventory.Interest RatesMortgage interest rates have been on the rise and are now over three-quarters of a percentage point higher than they were at the beginning of the year. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates climbed to 4.72% for a 30-year fixed rate mortgage last week.The interest rate ...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates to rise another quarter of a percent by next year.Search for Barnegat HomesIn addition to the predictions from the four major reporting agencies mentioned above, the Federal Open Market Committee recently voted “unanimously to approve a 1/4 percentage point increase in the primary credit rate to 2.75 percent.” Historically, an increase in the primary credit rate has translated to an overall jump in mortgage interest rates as well.1st Time Buyer InformationThis has caused some purchasers to lament the fact that they may no lo...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position.Barnegat home values are up over 11% from last year – What’s Your Barnegat Home Worth?Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value of their homes go up!According to the latest Equity Report from ATTOM Data Solutions, “13.9 million U.S. properties in Q2 2018 w...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
The Barnegat housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey:After the bubble burst in June 2007, values depreciated 6.1% annually until February 2012. From March 2012 to today, the market has been recovering with values appreciating 6.2% annually. In Barnegat sold home prices have risen by over 11%!What’s Your Barnegat Home Worth? Get a FREE, instant valuation!These wild swings in values were caused by abnormal ratios between the available supply of inventory and buyer demand in the market. In a normal market, there would be a 6-month supply of housing inventory.When the market hit its peak in ...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
We all realize that the best time to sell anything is when the demand for that item is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that right now continues to be a great time to sell your house.Let’s look at the data covered in the latest Pending Home Sales Report and Existing Home Sales Report.THE PENDING HOME SALES REPORTThe report announced that pending home sales (homes going into contract) are down 2.3% from last year and have continued to fall on an annual basis for seven straight months. But they are up by almost 45% in Barnegat!!What’s Your Barnegat Home Worth – Get a FREE, instant valuation!Lawrence Yun, NAR’s Chief Economist, had this to say:“The reason sales are...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
There are some people who have not purchased homes in Barnegat because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.In Barnegat the median rent is $1,750 per month. If you were to spend that much towards a mortgage, you could afford $250,000 (approximately) home in Barnegat. And there are loan programs in which you do not have to put any money down!Search Barnegat Homes for SaleAs Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re seri...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Slaying the Myths of Buying a Home in BarnegatYou’re finally ready to buy a home in Barnegat? That’s fantastic! In this exciting, but admittedly unnerving time, you might be inclined to turn to friends and family for advice—especially if they own homes. But beware, future Barnegat home buyer: Those close to you might not be the experts you think they are. You could be heeding bad (albeit well-intentioned) advice without even knowing it.Barnegat Homes for SaleSo we're here to bust the most common misconceptions about home buying in Barnegat so you can do this thing the right way. Because this is what we do. Some Highlights: The average down payment for first-time homebuyers is only 6% or less... some with 0 money down! Despite mortgage interest rates being over 4%, rates are still below ...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Reasons to sell your Barnegat home this summer: Over 180 homes have sold in Barnegat so far this year – that’s an increase of an amazing 36.4% from last year and the median home price has gone up by over 20%!!What’s Your Barnegat Home Worth?Some Highlights: Buyer demand continues to outpace the supply of homes for sale Barnegat which means that buyers are often competing with one another for the few listings that are available! Pending (under contract but hasn’t closed yet) are up 43%! Perhaps the time has come for you and your family to move on and start living the life you desire. Search for Barnegat Homes for SaleKarl Hess & Keller Williams Shore Properties provides expert real estate services to residential buyers and sellers in Barnegat and the surrounding communities. Contact us t...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
 What if I wait until next year to buy a Barnegat Home? We recently shared that Barnegat home prices have increased by 25.42% year to date over 2017. They’ve also increased by 6.7% year-over-year on a national basis. Over that same time, interest rates have remained historically low which has allowed many buyers to enter the market.As a seller, you will likely be most concerned about ‘short-term price' – where home values are headed over the next six months. As a buyer, however, you must not be as concerned about price, but instead about the ‘long-term cost' of the home.Search Barnegat Homes for SaleThe Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home P...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
 Barnegat Housing Market Trends for the month of April 2018. (See charts below)Number of Listings Chart: The Number of Listings chart displays listings counts by status. Barnegat Active Listings: 257 total as of the end of April, up 31.1%, up 25.3% year to date Barnegat New Listings: 85 for the month, up 49.1% for the month, up 16.4% year to date Barnegat Sold Listings: 26 for the month, down 7.1% for the month, up 12.3% year to date. Explanation: Active listings: How many listings were for sale during each month. The number of active listings is a "snapshot" of active listings on the 15th of the month. Rather than showing the number of all listings that were active at any time during the month, this chart displays a representation of the number of listings that were active on one day. ...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Homes starting in the high 300’s in the Ocean Acres Section of Barnegat - Press Release from D.R. Horton on new construction in BarnegatD.R. Horton’s New Jersey division is pleased to announce the opening of its Whispering Hills community in Barnegat, New Jersey. Division management, town officials and distinguished guests will celebrate the opening at the D.R. Horton Whispering Hills ribbon cutting ceremony on May 3, followed by a grand opening celebration on May 5.Barnegat Homes for SaleWhispering Hills has a furnished model and several homes under construction. Located in Barnegat off of West Bay Avenue, this quiet community features five new home plans starting in the upper-$300s. The furnished model home available for viewing is the Faringdon floor plan. The Faringdon is an open, t...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to make in order to buy a median-priced home in each of the 50 states, and Washington, D.C.In New Jersey the minimum household income required to buy a home is $52,000. Which can be lower in some areas of the state. If you’re looking for a home in Barnegat, where the average price of a home is approximately $270,000, the average household income is $64,000.Search for Homes in BarnegatWhen looking at the rest of the country, states in the Midwest came out on top as most affordable, requiring the smallest salaries in order to buy a median-priced home. States with large metropolitan areas saw a bump in the average salary...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Coming on the market very soon is this 4-bedroom 2.5 bath, almost 2200 square foot home (not including finished basement) and 2 car garage on over 1/3 of an acre in Barnegat’s Freedom Hills Section… a home that provides easy access to Route 9 and the Garden State Parkway – minutes to the beaches of LBIContact me today to make an appointment to see this house first! - It won't last long!This immaculate home has been very well maintained and is move-in ready. Hardwood and tile floors, granite, stainless-steel, eat-in kitchen. Separate dinning room, living areas and a beautifully finished basement with powder room. The basement opens to the backyard through sliding glass doors that lead to the paver-patio with inground pool. Homes in BarnegatDid you know Henry Hudson "discovered" Barnegat?...
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SOLD! Long Beach Island Home for Sale | LBI Real Estate | Jersey Shore Home for Sale | 29 Jon Dr Overview Maps Photos Features Description Neighborhood Market Stats Sold - $420,000 Single Family Home Main Features 4 Bedrooms2 Full Bathrooms1 Half BathroomInterior: 2,828 sqftLot: 20,000 sqftYear Built: 2002MLS #: 4046278 Location 29 Jon DriveBarnegat, NJ 08005USA Mary Ann O'Shea RE/MAX At Barnegat Bay(609) 492-1145 x 1026listwithmaryann@lbihomevalues.comhttp://www.lbihomevalues.com        Listed by: Mary Ann O'Shea - RE/MAX at Barnegat Bay Our recent listings Long Beach Island Home for Sale | LBI Real Estate | Jersey Shore Home for Sale | 29 Jon Dr | $419,900 | Barnegat, NJLong Beach Island Home for Sale | LBI Real Estate | Jersey Shore Home for Sale | 1102H LBB | $949,000 | Long Beach ...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
As a Veteran myself who has used the VA Loan Program, I understand the value it provides.Thousands of veterans live in Ocean County, and over 450,000 veterans call New Jersey home. For veterans and service members planning to purchase a home in Ocean County using a VA home loan, a termite inspection is required. For properties that are new construction, the builder is required to provide an approved Home Owners Warranty policy, which can be accessed through the New Jersey home insurance program.Search for Homes in BarnegatThe average home cost in Barnegat is $275,000. Home appreciation over the previous twelve months has been 7.63 percent. Disabled veterans in New Jersey qualify for a full property tax exemption if they are 100 percent disabled.Some Highlights: The VA loan guaranty prog...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
With Barnegat home prices on the rise and buyer demand strong, some sellers may be tempted to try and sell their homes on their own (FSBO) without using the services of a real estate professional.What’s Your Barnegat Home Worth?Local real estate agents, like me, are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO: The buyer who wants the best deal possible The buyer’s agent who solely represents the best interest of the buyer The buyer’s attorney (in some parts of the country) The home inspection companies, whi...
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