Barnegat, NJ Real Estate News

By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Barnegat Housing Market Trends for the month of December and Year to Date, 2017. (See charts below)Number of Listings Chart: The Number of Listings chart displays listings counts by status. Barnegat Active Listings: 221 total as of the end of December, up 17.6%, up 0.2% year to date Barnegat New Listings: 40 for the month, up 25% for the month, up 8.1% year to date Barnegat Sold Listings: 34 for the month, up 17.2% for the month, up 3.4% 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 ac...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
What are the disadvantages of “For Sale By Owner” (FSBO) in Barnegat?In today’s Barnegat Housing Market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers in Barnegat.What’s Your Barnegat Home Worth?Here are the top five reasons:1. Exposure to Prospective BuyersRecent studies have shown that 95% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?2. Results Come from the InternetWhere did buyers find the home they actually purchased? 49% ...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Barnegat total year-to-date home sales are up 2.2% and sold prices are up 7.7%What’s Your Home Worth?Existing Home Sales is an economic indicator of both the number and prices of existing single-family homes, condos and co-op sales over a one-month period. The existing home sales report is released monthly by the U.S. National Association of Realtors. It is a lagging indicator as it tends to react after a change in mortgage rates.Search for Homes in Ocean CountySome Highlights:Existing home sales are currently at an annual pace of 5.81 million, the highest pace since December 2006.The inventory of existing homes for sale has dropped year-over-year for the last 30 consecutive months and is now at a 3.4-month supply.NAR’s Chief Economist Lawrence Yun had this to say: “Faster economic grow...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
There’s a lot of paperwork to handle when buying a home in Barnegat.Mortgage forms, legal documents, inspection reports, title paperwork, that’s a lot of stuff!! This is why it’s important to have a professional real estate agent, and a team, to help guide you through the process of buying a home in Barnegat.Mortgages in particular, have a lot of paperwork when buying a home. Why is there so much paperwork mandated by the lenders for a mortgage loan application when buying a home today, you may ask. It seems that they need to know everything about you and requires three separate sources to validate each and every entry on the application form.Search for Homes in BarnegatMany buyers are being told by friends and family that the process was a hundred times easier when they bought their ho...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
If you’re thinking about putting your Barnegat home on the market, maybe you should do it soon and not wait for Spring.Whats Your Barnegat Home Worth?Many people believe that selling their Barnegat house during “the spring buyers’ market” is the best thing to do. Their reasoning is that there will be more buyers than there are during the winter months and, therefore, their house will sell quicker and for a higher price.Historically, this made sense. However, today’s real estate market is not following the rules of the past.The National Association of Realtors (NAR) measures buyer “foot traffic” each month. It receives data on the number of properties shown to a prospective purchaser by a Realtor® (based on the number of lockboxes used). The data reveals the number of buyers out actively...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Wondering what's been going on with the construction site on the western side of Lighthouse Drive in Barnegat next to the CVS? Here's an update.Barnegat's Planning Board recently approved the construction of 148 age-restricted two-bedroom condominiums on Lighthouse Drive, near the future site of the Barnegat Crossing shopping center and age-restricted apartment community.The condominium community, called "Barnegat Crossing II," will be limited to residents age 55 and older and will include an outdoor pool and clubhouse within Barnegat's fast-growing neighborhoods west of the Garden State Parkway.The latest approval marks a trend that will bring hundreds of new residents to this once forested section of the township.Barnegat Condos and Townhomes for SaleMajor development projects in Barn...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Buying a Home in Barnegat - Low Interest Rates Have a High Impact on Your Purchasing Power According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history!The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.Here are all the homes for sale in BarnegatPurchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget.Ocean County First Time Buyers ProgramThe chart below shows what impact...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
There are more homes in Barnegat priced over 400K and a lack of inventory for quality homes below $300,000. If you're thinking of "Moving Up" to a bigger, better home, now is the time!Whether you are a renter who is searching for your dream home or a Barnegat homeowner who feels like your only option is to renovate, you have at least one thing in common: feeling stuck in place.According to data from the National Association of Realtors’ Profile of Home Buyers & Sellers, the average amount of time that a family stays in their home remained at 10 years in 2017. This mark ties the highest marks set in 2014 and 2016. Back in 1985, when data was first collected on this subject, homeowners stayed in their homes for an average of only 5 years.Barnegat average sold prices have increased by over...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Barnegat area fishing has a long history and significant impact on our local economy. The Mid-Atlantic have a long and storied history of fishing, beginning with the Native American tribes who celebrated annual fish runs, and continuing with the colonial settlers, the whalers, and the modern fishing fleet.Fishing still defines our culture today, with clams, sea scallops, crabs, and a variety of fish filling our menus and attracting tourists from all over the world.According to the National Oceanic and Atmospheric Administration Report on commercial fishing along the East Coast, commercial fishermen working out of Barnegat and Long Beach Island pulled in 7.2 million pounds worth about $27 million, the report indicates. It’s an increase of about 1 million pounds and $2 million compared to...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Barnegat Thanksgiving Farmers Market Nov 19th.Barnegat Township Recreation is hosting its annual Thanksgiving Farm Market 10 a.m.-3 p.m. Nov. 19 in Fred Watts Park, located at the corner of Route 9 and E. Bay Avenue.Farmers attending include Brookville, Krowicki’s and Stillwell.Food vendors include:Cajan Jax BBQ, selling their famous 'dirty water' dogs.Highmountain Foods, featuring fresh stuffed breads, pickles, olives, chesses, pastas and much more.Moesters Bakery of Manahawkin, who will not only be selling baked goods but also taking orders for holiday pies that can be picked up Nov. 22 at their store.Other vendors include Jersey Charm Coffee, Momma’s Home Made Sauces and David Lerner Associates.Craft vendors are wanted for Nov. 19. They must be on site by 9 a.m. The fee is $25 per 10...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Barnegat Housing Market Trends for the month of October and Year to Date, 2017. (See charts below)Number of Listings Chart: The Number of Listings chart displays listings counts by status. Barnegat Active Listings: 187 total as of the end of October, down 6.0%, down 4.6% year to date Barnegat New Listings: 71 for the month, up 69% for the month, up 2.6% year to date Barnegat Sold Listings: 31 for the month, down 34.0% for the month, up 0.3% 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 ...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
If you’re thinking about buying a home in Barnegat, you should know your credit score.Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process in Barnegat.Contact Your Local Barnegat Real Estate ProfessionalMake sure all the information listed on your report is accurate and work to correct any mistakes. The higher your credit score, the more likely you will be to receive a better interest rate for your mortgage, which will translate into more ‘home for your money.'Many potential Barnegat Home Buyers buyers believe that they need a 750 FICO® Score or higher to be able to purchase a home. The truth is that according to Ellie Mae’s Origination Report, over 53% of lo...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Tickets for Breakfast with Santa in Barnegat go on sale November 1.Breakfast with Santa December 2, 2017 Tickets go on sale Nov. 1 in the Recreation Department Office $10.00 for Adults      $9 for Children      Free for infants 24 month and under Office hours are Monday through Friday 9 – 4pm and Monday Evenings 5 – 7pm Tickets are limited and not available at the door! Bring your Camera- Santa will be available for pictures 2017 Santa breakfast registration form The Legend of St. NicholasAccording to The History Channel, the legend of Santa Claus can be traced back hundreds of years to a monk named St. Nicholas. It is believed that Nicholas was born sometime around 280 A.D. in modern-day Turkey. Much admired for his piety and kindness, tt is said that he gave away all of his inherited ...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Renting or Buying in Barnegat…Either Way, You're Paying Someone's MortgageThere are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.As 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 serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”The average rent for a home in Ocean County is $1,...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Barnegat home owners may have more equity than they know.A recent article from a reputable news source was titled: Here's why some homeowners still can't sell. In the opening bullets of the article, the author claimed, “Negative equity is one of the main reasons why there are so few homes for sale.” The article then goes on to soften that stance but we want to bring better clarity to the equity situation.A current report from CoreLogic (which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.)If eight out of ten homeowners now have significant equity in their home...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Buying a Home in Southern Ocean County with low or no downpaymentA report released by Down Payment Resource shows that 61% of first-time homebuyers purchased their homes with a down payment of 6% or less.The trend continued among all buyers with a mortgage, as 73% made a down payment of less than 20%.A USDA home loan is a zero down payment mortgage for eligible rural and suburban homebuyers (i.e. from Lanoka Harbor to Manahawkin). USDA loans are issued through the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of AgricultureAdvantages of the USDA Home Loan Guaranteed Program: 100% financing No down payment requirement No Mortgage Insurance No Cash Reserves Required Loan up to 101% of appraised value Seller Con...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
5 Reasons to Hire a Real Estate Professional When Buying or Selling Your Barnegat Home!Whether you are buying or selling a Barnegat home, it can be quite an adventurous journey. This is why you need an experienced real estate professional to guide you on the path to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.The 5 reasons you NEED a Barnegat real estate professional in your corner haven’t changed, but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up steam.Contact Your Local Barnegat Real Estate Professional1. What do you do with all this paperwork?Each state has different regulations regarding the contracts r...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
On Thursday, October 26, at 7 p.m., the Barnegat Branch of the Ocean County Library presents “The Great Cathedral Mystery.” It focuses on the dome that crowns Florence, Italy’s great cathedral, Santa Maria del Fiore.The dome that crowns Florence’s great cathedral of Santa Maria del Fiore—the Duomo—is a towering masterpiece of Renaissance ingenuity and an enduring source of mystery. Still the largest masonry dome on earth after more than six centuries, it is taller than the Statue of Liberty and weighs as much as an average cruise ship.Historians and engineers have long debated how its secretive architect, Filippo Brunelleschi, managed to keep the dome perfectly aligned and symmetrical as the sides rose and converged toward the center, 40 stories above the cathedral floor. His laborers t...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
Some people don’t think of putting their home on the market in the autumn – but this year is different! So if you’re thinking of selling your Barnegat home? You should do it today!That headline might be a little aggressive; however, as August/September 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling your home, IT IS TIME TO LIST YOUR BARNEGAT HOME TODAY!In a recent article by CBS News, they explained that the number of existing home sales is shrinking, and Lawrence Yun, Chief Economist for the National Association of Realtors, said: “There should be 3 million homes on the market right now…Yet, there are only 1.9 million.”In Barnegat there are only 179 homes on the market, there was 228 last year at this time; a reduction of a...
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By Karl Hess, on The Jersey Shore
(Keller Williams Shore Properties)
The competition to your Barnegat home is coming in the form of new construction.Currently there are 30 “new construction” homes in Barnegat in the multiple listing service. From 2 bedroom, 2 bath homes in adult communities like Seacrest Pines to 4 bedroom, 4 bath single family homes in the Whispering Hills section of Barnegat. These homes are ranging in price from $300,000 to $450,000. And you can expect even more new construction coming in the Spring of 2018.What is your Barnegat Home Worth – Get a FREE, instant valuationThe number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report,...
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