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Market Confidence Meter
              By the end of July,
           housing prices in all 20
            cities of the S&P/Case
             Shiller index showed
           increases over the prior
                     month.
             New home sales are up
          27.7% from 2011 with prices
          showing the largest monthly
              increase since 1963.
Market Confidence Meter

          The National Association
              of Realtors is now
          forecasting overall home
            sales up 8% for 2012.
          The inventory of existing
           homes for sale is at 6.1
          months supply, indicating
            a balanced market for
          both buyers and sellers,.
Market Confidence Meter

          “Housing is no longer a
            negative. It is turning
          positive, and we see the
            data reflecting that,”
           said Ivy Zelman, chief
          executive at the research
               firm Zelman &
                 Associates.
Market Confidence Meter
          The Federal Reserve will
             continue boosting
          housing market recovery
               by purchasing
            $40 Billion/month of
              mortgage-backed
           securities and keeping
           downward pressure on
                interest rates.
Market Confidence Meter
                In New Jersey, home
            purchases were up 24% in
             July, the 10th consecutive
                 month of increases,
          accompanied by a 17% drop in
          inventory, according to Jeffrey
          Otteau of the Otteau Valuation
           Group. Median prices are up,
          suggesting statewide increases
          for the second quarter of 2012,
                   reported Otteau.
Market Confidence Meter
          The average rate on a 30-year,
           fixed rated mortgage fell to
             3.4% by late September,
            according to Freddie Mac.
                   At these rates,
               and with rising rents,
             Homeownership is now
              cheaper than Renting
           in all 100 of the largest U.S.
            metros by a wide margin,
                  reported Trulia!
Historic Home Prices
    Remember, when adjusted for
   inflation, American home prices
increased by an average of about half
     a percentage point per year
       from 1890 through 2008,
 according to data compiled by Yale
 University Professor Robert Shiller.

(www.USNews.com/money - Luke Mullins, March 4, 2010)
With an eye to Moving This Year!
If you are a Buyer,
•   with today’s low interest rates, hovering around 3.4% for 30-year
    fixed-rate mortgages, AFFORDABILITY is HIGH !
•   consult with an experienced New Jersey mortgage counselor to
    assess your buying power and position yourself in the market.
If you are a Seller,
•   Pinpoint pricing is all important in this challenging market.
•   Professional staging can make all the difference in getting a
    good, negotiable offer.
•   Pre-inspections prevent later fall-throughs once you have a
    contract for sale!
•   Marketing for today’s buyers and the way they search for
    homes–on the INTERNET, makes all the difference.
Top Five Rules for Understanding
    the Real Estate Market:
       1.   Real Estate is Local
       2.   Real Estate is Local
       3.   Real Estate is Local
      4.    Real Estate is Local.
      5.     Real Estate is Local
Understand the Local Market That

     You are Buying into or
         Selling out of!
How do we assess strength and vitality
    in our real estate markets?

By checking the “Absorption Rate.”
This is the number of homes available
  divided by the number of homes
    that have gone under contract
          in the past 30 days.

  It is our most accurate measure
      of current market strength.
Sample Market Absorption Rate

                        Anyt ow n., NJ


        100 cur r ent act ive list ings            25
                                             = Mont hs’
    4 r epor t ed sales in last 30 days       absor pt ion
                                                 r at e

5-6 Months Market Absorption Rate indicates a normal market.
13

Market Absorption Scale
 (Absorption Rate in Months)
Market Scale for Supply & Demand
                                                                 Weichert, Realtors has
                                                                 been studying market
                                       1                         conditions for more than 3
Market Absorption in Months




                                                                 decades and has found a
                                       2                         direct correlation between
                                       3                         market absorption rates
                                                                 and property values.
                                       4                         As absorption rates increase
                                       5                         beyond a normal market
                              Normal




                                                                 level of 5-6 months,
                                       6                         property values depreciate
                                                                 annually. As they decrease
                                       7                         below 5 months, they
                                                                 increase—inverse
                                       8
                                                                 proportion. Although
                                       9                         different markets may not
                                                                 see the amount of decrease
                                   10                            shown here, the pressure on
                                                                 prices will be similar.
                                   11
                                   12
10/2/12
Towns        Active     Pending   Absorption   New Listings   Net Gain    Listings     % of      Expired    W/drawn    Closed
             Listings   in Last   Rate in      in 30 Days     (Loss) to   Reduced in   Invent.   Listings   Listings   Listings
                        30 Days   Months                      Market      30 Days      Reduced

West
Windsor:     113        16        7.1          24             8           30           26.5%     1          10         31
All Styles

West
Windsor      23         4         5.8          6              2           7            30.4%     0          2          10
Condo/
T.Houses

West
Windsor      14         1         14           3              2           _            _         0          0          2
55+

West
Windsor      76         11        6.9          15             4           23           30.3%     1          8          19
Single
Family




Lawrence:
All Styles   170        7         24.3         28             21          40           23.5%     15         7          19
Lawrence:
Condo/       50         4         12.5         6              2           20           40.0%     4          2          7
THouses

Lawrence:
55+          12         1         12           4              3           _            _         2          0          0
Lawrence:
Single       108        2         54           18             16          20           18.5%     9          5          12
Family
10/2/12
Towns        Active     Pending   Absorption   New           Net Gain    Listings     % of      Expired    W/drawn    Closed
             Listings   in Last   Rate in      Listings in   (Loss) to   Reduced in   Invent.   Listings   Listings   Listings
                        30 Days   Months       30 Days       Market      30 Days      Reduced


Ewing:
All Styles
              246         14         18            49          35           41          17%       20          9         17
Ewing :
Condo/
               28         4           7             8           4            4          14%        6          1          2
T.Houses

Ewing
55+:
                5         1           5             2           1           ---          ---       0          0          1
Ewing:
Single
              213         9          24            39          30           37          17%       14          8         14
Family



East
Windsor:
              175         20          9            28           8           43          25%        7          7         24
All Styles

East
Windsor:
               98         10         10            13           3           27          28%        4          3         12
Condo/
Thouses

East
Windsor:
               14         0         999             3           3           ---          ---       0          0          5
55+

East
Windsor:
               63         10          6            12           2           16          25%        3          4          7
Single
Family
10/2/12
Towns            Active     Pending   Absorption   New           Net Gain    Listings     % of      Expired    W/drawn    Closed
                 Listings   in Last   Rate in      Listings in   (Loss) to   Reduced in   Invent.   Listings   Listings   Listings
                            30 Days   Months       30 Days       Market      30 Days      Reduced

Hopewell
Twp.             139        14        9.9          28            14          29           20.1%     13         10         25
All Styles

Hopewell
Twp. Condo/      14         5         2.8          4             -1          2            14.3%     0          1          6
T.Houses

Hopewell
Twp.:            4          0         00           0             0           --           --        0          0          3
55+

Hopewell Twp
Single Family    121        9         13.4         24            15          27           22.3%     13         9          16



                 482        51        9.5          83            32          116          24.1%     24         27         66
Hamilton: All
Styles



                 81         10        8.1          10            0           19           23.5%     5          6          8
Hamilton:
Condo/ THouses



                 19         6         3.2          4             -2          --           --        2          0          4
Hamilton:
55+



                 382        35        10.9         69            34          97           25.4%     17         21         54
Hamilton:
Single Family
10/2/12
Towns           Active     Pending   Absorption   New        Net Gain    Listings   % of      Expired    W/draw     Closed
                Listings   in Last   Rate in      Listings   (Loss) to   Reduce     Invent.   Listings   n          Listings
                           30 Days   Months       in 30      Market      d in 30    Reduced              Listings
                                                  Days                   Days




                90         18        5            21         3           25         28%       5          10         25
Robbinsville
All Styles




                45         11        4            11         0           11         24%       5          8          16
Robbinsville
Condo/
T.Houses



                45         7         6            10         3           14         31%       0          7          9
Single Family




                55         4         14           10         6           3          5%        4          1          4
Hightstown
Boro: All
Styles



                23         3         8            3          0           4          17%       1          1          6
Pennington




                10         7         1.4          4          (3)         1          10%       0          1          2
Hopewell Boro
10/2/12
Towns           Active     Pending   Absorption   New           Net Gain    Listings   % of      Expired    W/draw     Closed
                Listings   in Last   Rate in      Listings in   (Loss) to   Reduced    Invent.   Listings   n          Listings
                           30 Days   Months       30 Days       Market      in 30      Reduced              Listings
                                                                            Days




Princeton
Boro:           35         4         8.8          10            6           5          14.3% 1              2          7
All Styles


Princeton
-Boro Condo/    13         2         6.5          1             -1          3          23%       0          2          6
Thouses


Princeton-
Boro            22         2         11           9             7           2          9.1%      1          0          1
Single Family




Princeton
Twp: All        132        1         132          21            20          24         18.2% 2              6          20
Styles

Princeton
Twp: Condo/     18         1         18           6             5           4          22.2% 0              1          5
Thouses


Pton Twp:
Single Family   114        0         99           15            15          20         17.5% 2              5          15
10/2/12
Towns           Active     Pending   Absorption   New           Net Gain    Listings     % of      Expired    W/drawn    Closed
                Listings   in Last   Rate in      Listings in   (Loss) to   Reduced      Invent.   Listings   Listings   Listings
                           30 Days   Months       30 Days       Market      in 30 Days   Reduced



South
Brunswick       215        22        16           24            2           73           34        16         3          46
All Styles

South
BrunswickCon
do/ T.Houses
                71         6         12           9             3           38           52        10         1          17
South
Brunswick       30         1         30           2             1           2            7         0          0          3
55+

South
Brunswick       114        15        8            13            -2          33           29        6          2          26
Single Family




Monroe:
All Styles      452        24        19           97            73          104          23        25         6          80
Monroe:
55+             284        16        20           65            49          78           13        14         1          15
Monroe:
Single Family   168        8         21           32            24          24           14        29         5          15

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Greater Princeton NJ Real Estate Update

  • 1. Market Confidence Meter By the end of July, housing prices in all 20 cities of the S&P/Case Shiller index showed increases over the prior month. New home sales are up 27.7% from 2011 with prices showing the largest monthly increase since 1963.
  • 2. Market Confidence Meter The National Association of Realtors is now forecasting overall home sales up 8% for 2012. The inventory of existing homes for sale is at 6.1 months supply, indicating a balanced market for both buyers and sellers,.
  • 3. Market Confidence Meter “Housing is no longer a negative. It is turning positive, and we see the data reflecting that,” said Ivy Zelman, chief executive at the research firm Zelman & Associates.
  • 4. Market Confidence Meter The Federal Reserve will continue boosting housing market recovery by purchasing $40 Billion/month of mortgage-backed securities and keeping downward pressure on interest rates.
  • 5. Market Confidence Meter In New Jersey, home purchases were up 24% in July, the 10th consecutive month of increases, accompanied by a 17% drop in inventory, according to Jeffrey Otteau of the Otteau Valuation Group. Median prices are up, suggesting statewide increases for the second quarter of 2012, reported Otteau.
  • 6. Market Confidence Meter The average rate on a 30-year, fixed rated mortgage fell to 3.4% by late September, according to Freddie Mac. At these rates, and with rising rents, Homeownership is now cheaper than Renting in all 100 of the largest U.S. metros by a wide margin, reported Trulia!
  • 7. Historic Home Prices Remember, when adjusted for inflation, American home prices increased by an average of about half a percentage point per year from 1890 through 2008, according to data compiled by Yale University Professor Robert Shiller. (www.USNews.com/money - Luke Mullins, March 4, 2010)
  • 8. With an eye to Moving This Year! If you are a Buyer, • with today’s low interest rates, hovering around 3.4% for 30-year fixed-rate mortgages, AFFORDABILITY is HIGH ! • consult with an experienced New Jersey mortgage counselor to assess your buying power and position yourself in the market. If you are a Seller, • Pinpoint pricing is all important in this challenging market. • Professional staging can make all the difference in getting a good, negotiable offer. • Pre-inspections prevent later fall-throughs once you have a contract for sale! • Marketing for today’s buyers and the way they search for homes–on the INTERNET, makes all the difference.
  • 9. Top Five Rules for Understanding the Real Estate Market: 1. Real Estate is Local 2. Real Estate is Local 3. Real Estate is Local 4. Real Estate is Local. 5. Real Estate is Local
  • 10. Understand the Local Market That You are Buying into or Selling out of!
  • 11. How do we assess strength and vitality in our real estate markets? By checking the “Absorption Rate.” This is the number of homes available divided by the number of homes that have gone under contract in the past 30 days. It is our most accurate measure of current market strength.
  • 12. Sample Market Absorption Rate Anyt ow n., NJ 100 cur r ent act ive list ings 25 = Mont hs’ 4 r epor t ed sales in last 30 days absor pt ion r at e 5-6 Months Market Absorption Rate indicates a normal market.
  • 13. 13 Market Absorption Scale (Absorption Rate in Months)
  • 14. Market Scale for Supply & Demand Weichert, Realtors has been studying market 1 conditions for more than 3 Market Absorption in Months decades and has found a 2 direct correlation between 3 market absorption rates and property values. 4 As absorption rates increase 5 beyond a normal market Normal level of 5-6 months, 6 property values depreciate annually. As they decrease 7 below 5 months, they increase—inverse 8 proportion. Although 9 different markets may not see the amount of decrease 10 shown here, the pressure on prices will be similar. 11 12
  • 15. 10/2/12 Towns Active Pending Absorption New Listings Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in in 30 Days (Loss) to Reduced in Invent. Listings Listings Listings 30 Days Months Market 30 Days Reduced West Windsor: 113 16 7.1 24 8 30 26.5% 1 10 31 All Styles West Windsor 23 4 5.8 6 2 7 30.4% 0 2 10 Condo/ T.Houses West Windsor 14 1 14 3 2 _ _ 0 0 2 55+ West Windsor 76 11 6.9 15 4 23 30.3% 1 8 19 Single Family Lawrence: All Styles 170 7 24.3 28 21 40 23.5% 15 7 19 Lawrence: Condo/ 50 4 12.5 6 2 20 40.0% 4 2 7 THouses Lawrence: 55+ 12 1 12 4 3 _ _ 2 0 0 Lawrence: Single 108 2 54 18 16 20 18.5% 9 5 12 Family
  • 16. 10/2/12 Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced in Invent. Listings Listings Listings 30 Days Months 30 Days Market 30 Days Reduced Ewing: All Styles 246 14 18 49 35 41 17% 20 9 17 Ewing : Condo/ 28 4 7 8 4 4 14% 6 1 2 T.Houses Ewing 55+: 5 1 5 2 1 --- --- 0 0 1 Ewing: Single 213 9 24 39 30 37 17% 14 8 14 Family East Windsor: 175 20 9 28 8 43 25% 7 7 24 All Styles East Windsor: 98 10 10 13 3 27 28% 4 3 12 Condo/ Thouses East Windsor: 14 0 999 3 3 --- --- 0 0 5 55+ East Windsor: 63 10 6 12 2 16 25% 3 4 7 Single Family
  • 17. 10/2/12 Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced in Invent. Listings Listings Listings 30 Days Months 30 Days Market 30 Days Reduced Hopewell Twp. 139 14 9.9 28 14 29 20.1% 13 10 25 All Styles Hopewell Twp. Condo/ 14 5 2.8 4 -1 2 14.3% 0 1 6 T.Houses Hopewell Twp.: 4 0 00 0 0 -- -- 0 0 3 55+ Hopewell Twp Single Family 121 9 13.4 24 15 27 22.3% 13 9 16 482 51 9.5 83 32 116 24.1% 24 27 66 Hamilton: All Styles 81 10 8.1 10 0 19 23.5% 5 6 8 Hamilton: Condo/ THouses 19 6 3.2 4 -2 -- -- 2 0 4 Hamilton: 55+ 382 35 10.9 69 34 97 25.4% 17 21 54 Hamilton: Single Family
  • 18. 10/2/12 Towns Active Pending Absorption New Net Gain Listings % of Expired W/draw Closed Listings in Last Rate in Listings (Loss) to Reduce Invent. Listings n Listings 30 Days Months in 30 Market d in 30 Reduced Listings Days Days 90 18 5 21 3 25 28% 5 10 25 Robbinsville All Styles 45 11 4 11 0 11 24% 5 8 16 Robbinsville Condo/ T.Houses 45 7 6 10 3 14 31% 0 7 9 Single Family 55 4 14 10 6 3 5% 4 1 4 Hightstown Boro: All Styles 23 3 8 3 0 4 17% 1 1 6 Pennington 10 7 1.4 4 (3) 1 10% 0 1 2 Hopewell Boro
  • 19. 10/2/12 Towns Active Pending Absorption New Net Gain Listings % of Expired W/draw Closed Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings n Listings 30 Days Months 30 Days Market in 30 Reduced Listings Days Princeton Boro: 35 4 8.8 10 6 5 14.3% 1 2 7 All Styles Princeton -Boro Condo/ 13 2 6.5 1 -1 3 23% 0 2 6 Thouses Princeton- Boro 22 2 11 9 7 2 9.1% 1 0 1 Single Family Princeton Twp: All 132 1 132 21 20 24 18.2% 2 6 20 Styles Princeton Twp: Condo/ 18 1 18 6 5 4 22.2% 0 1 5 Thouses Pton Twp: Single Family 114 0 99 15 15 20 17.5% 2 5 15
  • 20. 10/2/12 Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings 30 Days Months 30 Days Market in 30 Days Reduced South Brunswick 215 22 16 24 2 73 34 16 3 46 All Styles South BrunswickCon do/ T.Houses 71 6 12 9 3 38 52 10 1 17 South Brunswick 30 1 30 2 1 2 7 0 0 3 55+ South Brunswick 114 15 8 13 -2 33 29 6 2 26 Single Family Monroe: All Styles 452 24 19 97 73 104 23 25 6 80 Monroe: 55+ 284 16 20 65 49 78 13 14 1 15 Monroe: Single Family 168 8 21 32 24 24 14 29 5 15

Editor's Notes

  1. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  2. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  3. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  4. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  5. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  6. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.