No Comments

South New Jersey real estate market performance review

2018 Market Review Summary

 

How did the real estate market perform in South New Jersey in 2018?

In 2018 we saw a Sellers Market in many areas across the country, including much of Main Street Realty’s service area. The housing inventory was low, but the number of buyers hunting for their dream home remained high through the year. In a sellers market, home buyers are competing over the available houses, which results in surging home sale prices.

We also saw the mortgage interest rates begin to climb. Since the crash in 2008, mortgage interest rates for a 30 year mortgage have, on average, stayed below 6%. From 2015 through 2017 we saw average interest rates in the 3% range. 2018 saw rates climb over the 4% mark. Here’s an article that digs deeper into reviewing the history of interest rates.

Another factor that played into the 2018 market is the millennial generation. Those born between 1982 and 2004 are considered millennials. This generation currently holds the largest number of mortgage applications across the country. How has that impacted the market? It has shifted the way a property needs to be marketed to the public and how sellers present their properties. The millennial generation is more in tune with social media and technology, which means sellers have had to adjust their home presentation to attract buyers.

Looking Forward to 2019

It is expected that we will begin to see the market balance across the country in 2019. However, South New Jersey is still experiencing a very low inventory as we begin the year. If you are considering selling, 2019 may be the year where you will receive a high value for your home. Contact Main Street Realty for a detailed analysis of your home’s value in today’s market.

 

Below is a market performance review of many of the communities Main Street Realty serves. This data provides a snapshot of property inventory and average home prices from the past three years for communities within Camden County. The data was derived from Bright MLS.

 

DO YOU KNOW WHAT YOUR HOME IS WORTH IN TODAY’S MARKET?

FOR A PROFESSIONAL MARKET ANALYSIS OF YOUR HOME, CONTACT MAIN STREET REALTY

856-858-2200 – info@mymainstreetrealty.com

 

For a more detailed analysis of your local market or to discuss your property value in today’s market, contact Main Street Realty.

856-858-2200   –   info@mymainstreetrealty.com

No Comments

M.T. Construction – Over 150 New Homes!

Kingston Korner, Barrington New Jersey

Having over 20 years in the South New Jersey real estate industry, our Main Street Realty agents have developed many friendships with like minded businesses and contractors. Having professionals we feel confident recommending helps us provide a higher level of service to our community. 

 
M.T. Construction is one of those businesses that exemplifies the qualities Main Street admires.
 
M.T. Construction is a family owned and run business that was founded in 1992 by Mike Tippin Sr. Their reputation for high quality work is evident in the many homes they have built in our communities over the years. With over 150 new homes built, the Tippin family has created a brand that home buyers have come to trust when seeking excellence in new construction.
 
Mike Tippin Sr. is a third generation builder who was taught by his father in the late 1960’s. His father learned the trade from his uncle, who was also a builder. 
 
When asked how the different backgrounds and roles within the family business helps set them apart, Michael Tippin Jr. says, 
 
“At M.T. Construction, being able to physically build the houses ourselves makes the home building process easier and more fluid, while helping eliminate mistakes. We are hands on with every project and can be found on the job-sites everyday.”
 
Their current project is located in Barrington, NJ along the beautiful, tree lined Kingston Avenue. Barrington is a family oriented town full of history and great schools. There are not many land parcels left in Barrington, so M.T. Construction was excited when the opportunity to bring new homes to this community presented itself! There are six brand new construction homes currently taking shape.
LOCATION, LOCATION, LOCATION! These brand new homes are walking distance to Clements Bridge Road where you will find shops, bars, and seasonal festivals. Young families will enjoy the new, all-inclusive Wish Upon A Star playground just around the corner! Barrington is a short drive to the award winning shopping and dining in the nearby downtown communities such as Haddonfield and Collingswood. Commuting is a breeze with close proximity to the PATCO Speedline and major roadways!
These beautiful three and four bedroom homes offer an open floor plan, modern amenities, a gas fireplace, and a master suite! Homes starting at $314,900.
 

For all inquiries about M.T. Construction’s newest project, call Main Street Realty at 856-858-2200

CLICK HERE FOR MORE DETAILS ON 320 KINGSTON AVENUE

SPECIAL FINANCING AVAILABLE!

• Up to 97% financing available

• Competitive Rates – 30 year fixed 5.125% 0 points, APY 5.170 with 60 day rate lock

• No Private Mortgage Insurance (PMI)

• You do not need to be a first-time home buyer

• Primary residence only

*terms and conditions apply. 

*Program, rate, points and fees are subject to change without notice.

CONTACT MAIN STREET AGENT TIM VODGES: timvogdes@yahoo.com