Has the market turned around?  Shall I list now or wait until Spring?

Real Estate is local.  We must be wary not to apply national figures to our local market.  They are frequently conflicting.  The national median price increase is reported anywhere between 1.2% and 3.8%.  Though we are locally following the national trend, our increase in home prices is 1.8% for 3rd Quarter 2012 over 3rd Quarter 2011.  However, we are still running 27% below the all- time high in 2006… a number that we will not see again for many years.

“Turned Around?”  Let’s be honest.  The wreckage is too extensive to be “turned around” by Spring.  That said, the upward trend is unmistakable as the turn-around indeed is real, tangible and a process, not an event.  It is likely that, by Spring, the environment will be a bit better, but not that much better to delay something you and your family need to do.

Spring traditionally is the best time to sell a home merely because more people are out looking. This doesn’t necessarily translate into higher prices.  Fewer people are out shopping during the winter, but those that do are serious and ready.  In the winter, there are fewer homes to choose from.  Spring delivers an abundance of choices and greater competition.

Should you list now or wait?  If it is time to go, list it now.  If Spring suits you better, list in mid-February and get a jump on the market.

Above all, select a veteran agent who has the pulse of your market and uses state-of-the-art marketing techniques to expedite success.

Medford, New Jersey is a great place to live for a number of reasons. 

Great people, excellent location and one of the best school systems in the country. 

Best of all, Medford has a small town charm where local businesses are the norm and people develop long lasting friendships with one another.  Youth sports, school activities, festivals and the local lakes, beaches and pools enable people to connect with one another all year long.

There are a few of the larger chain-style businesses, but they are the exception rather than the norm.

Our school system is excellent, our students consistently do very well compared to the national averages and youth sports are very popular. Whether you or your children are into swimming, lacrosse, football, baseball, basketball, wrestling or any number of the sports and activities, Medford, NJ has a thriving team become a part of.

If you’re an entrepreneur or work-from home business person, Medford is full of networking opportunities and you’ll be able to connect with other like-minded people who share your passion for business, sales, entrepreneurship and more.

Geographically, Medford, NJ has a great location.  Filled with lakes and small beaches itself, Medford is also only 30-45 minutes from the Jersey shore.  Medford is also only 15 miles or so from Philadelphia and an easy commute to New York city via train.  In fact, Medford has a many residents who work in Philadelphia and New York City, commuting to work each day and returning the quiet, secluded environment of Medford in the evening.

Medford is also rich in History and sponsors several great family-style festivals throughout the year.

As a child or teenager, Medford really does offer the best of many words.  Excellent schools, sports teams, and friend building opportunities.  As an adult or parent, Medford has an equal number of benefits including business and entrepreneur friendly environments, close proximity to major cities like Philadelphia and New York City, and close proximity to leisure activities including local lakes and beaches and the Jersey shore.

Wrap all these things up and you have a great place to live and raise a family.  We’d like your opinion as well.  Think Medford is great or have another favorite place to live?  Leave a comment and let us know!

Medford Joins Appeal of State COAH Regulations Today, Medford Township joined the New Jersey State League of Municipalities and dozens of individual communities in appealing the regulations adopted by the Council on Affordable Housing (COAH) on June 2, 2008. The new regulations impose an arbitrary and unrealistic burden on municipalities throughout the state, and in particular communities like Medford. These new regulations impose a so-called “growth share” affordable housing obligation on Medford of 328 affordable housing units.

This unreasonable and unjustifiable burden has been placed on Medford despite the Township’s long history of good faith compliance with its COAH requirements, having fully satisfied its First and Second Round affordable housing obligations. Further, Medford has created affordable housing opportunities within the Township, as evidenced by Council’s recent support for the MEND affordable senior project, the Medford Leas Creekside project, and its commitment to renovation of the historic Singer House for use as supportive housing.

COAH’s arbitrary and poorly-considered determination that Medford has a prospective affordable housing obligation of 328 units ignores issues such as lack of sewer capacity, which has been recognized by the New Jersey Supreme Court, the restraints on development imposed by other state agencies, such as the Office of Smart Growth, DEP and the Pinelands Commission, and encourages the wasteful extension of infrastructure improvements.

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It is time for the BUYER to pull the trigger. Psychology plays a large part in winning at real estate. General consumer confidence made buyers over-pay for a home during the Seller’s market. The opposite is happening now. 

Consumer confidence is low and causing buyers to hesitate.  However, the way to WIN is to purchase when prices are falling and the interest rates are low.

Do not make the mistake of concluding that when the prime goes down, the mortgage interest rate follows.

NOW is the time to get serious – before an inevitable rise in interest rates wipes out the present advantage. This is the best period in a near-decade to invest in a home. The plentiful inventory in our marketplace is making sellers eager to help prospective buyers become new homeowners.

It is a definite win for buyers who can qualify for a mortgage in today’s tight money market.

Medford is definitely experiencing a strong buyer’s market and he who hesitates could lose.

Now is the best period in a near-decade to purchase a home. The plentiful inventory is making sellers eager to help prospective buyers become new homeowners and the near record-low Interest rates combine to provide an excellent opportunity for leveraged investment.

A 10% down payment on a home can bring as much as 80 – 100% return in a 5 year period. When you combine that with the tax advantages, it is a perfect time to invest in a new home.

The Medford market continues to prefer buyers.  Interest rates continue to trend downward for 30-year, fixed-rate mortgages.

There is an abundant inventory in all price ranges and seller’s are eagerly discounting to effectuate a sale.

This provides an excellent climate for buyers.

Hence, regardless of media headlines, real estate is local some markets have faired much better than others. 

The straight scoop is that in Burlington/Camden Counties, NOW is a superb time to take advantage of extremely favorable conditions for buyers. As always, home ownership continues to be the consumer’s best investment.