Got your attention?
As gathered from listings in the Monmouth MLS (Multiple Listing)
1. Single family homes in AP YTD - no change. 19 home single family homes sold.
Avg home was in the $200-$250,000 price range (12)
2. Condos - 43 sold YTD (most in the $100-150,000) range.
The 200% increase YTD sales were in the $400-$449,000 range. (2009 1 was sold,
this year 3 sold in this price range YTD).
Overall, an INCREASE in sales/rentals - as for those entered and closed via
the MLS services.
Average days a house is on the market - 108.
There's a 2 year supply of houses on the market - in AP.
The Avg list price is $289,000 - avg sale price around $260,000.... median
$220,000....
These stats are from Sept 2009 to current date and only include numbers
gathered from Monmouth MLS.
So what does this all mean?
Nothing - unless you purchased high - or maybe not.
The truth about buying real estate is - make your own decision. Prices will NOT
always go up. You will NOT always cover your mortgage taxes and expenses. Real
estate is only a good investment when you have POSITIVE CASH FLOW or if you can
carry and sell for MORE then what you paid - and with no headaches along the
way.
There's an old saying to making money (or more):
- Buy low, sell high.
- Inherit. Hopefully with no debt. That's one of the secrets to obtaining
wealth.
- It's not your realestate agent's money - it's yours.
I get so tired of reading garbage in the papers or the NAR (National
association of realtors fluff). Actually, they started reporting more of the
truth.
So - you can print a headline "Home sales in Asbury Park continue to
rise...despite the rest of the US..."
I didn't go into actual value comparisons.
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