Wednesday, February 15, 2006

3189 Houses on the Eastern Monmouth MLS this Week

Last week the count was 3168.

The number of listings on the MLS for eastern Monmouth County, New Jersey increased again. The inventories keep growing in our area and all over the country as house prices become more unaffordable with the rise in interest rates. A sort of “panic listing” seems to have set in but it does not look like “panic selling” has set in yet, as prices still remain high and I doubt many people actually need, as opposed to want, to sell yet. I think that inventories are going to grow over the next few weeks and then maybe level off for a month or two. I’m guessing that by mid-Summer, the first of the “need to sell” owners will start to panic after watching their house languish all Spring, and they will start cutting prices to an extent that will be noticeable.

6 Comments:

Anonymous New Business Opportunity said...

This comment has been removed by a blog administrator.

Wednesday, February 15, 2006 10:45:00 PM  
Blogger MazNJ said...

Stupid autospammers.

Oh well... I'd say its very true that R/E is heading down here. Listings are enormous compared to last year and the quality is quite a bit higher. I've seen several homes, including a nice one in Navesink, sit on the MLS for over half a year and undergone 80k in price reductions. Also decided to stop working my realtor because they kept towing the party line of "RE will never go down". I don't blame them answering that on purpose if they thought it would drive me away, I'm definitely a waste of time to a Realtor(tm) with my lowball offers and lack of urgency to buy.

Thursday, February 16, 2006 2:10:00 PM  
Blogger buy_lo said...

This comment has been removed by a blog administrator.

Sunday, February 19, 2006 4:53:00 PM  
Anonymous Anonymous said...

Its getting somewhat obvious that the Jersey Shore RE market and especially the Middlesex county prices (the Amboys, Matawan, Woodbridge etc.) are going to get hit very hard in the offing. You can see the inkling of this in the eyes of some wisdom-filled RE agents - no matter how much low-ball offer you try to make these days (10%, 15%, even 22%), they have stopped saying "No" right away to the prospective buyer, but instead, these days they say: "Well, let me talk to the seller and I'll get back to you"! This is a definite first sign of softening in my eyes! (Back in 2002/3 timeframe, they were so snobbish and used to simply hang-up on you, saying "good luck in finding a nice dumpster for that price"). Most 50-70 year old, basically cape-cod huts, were being sold as nice-livable-houses for 250K in this market until last year! But, the things have stabilized from last summer and now, they are taking an ominous turn for sellers IMHO. I'm afraid, many high-fliers or clueless types, will simply get financially-trapped in the black-hole called their "Central Jersey Home"!

Monday, February 20, 2006 8:53:00 PM  
Anonymous Anonymous said...

at least they will be stuck close the beach. ;)

Monday, February 20, 2006 10:34:00 PM  
Anonymous Anonymous said...

Yo Little Silvered dude...

Check out MLS ID#: 10038427

You might find it a bit familiar.

Tuesday, February 21, 2006 1:43:00 PM  

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