Over 4000 Homes for Sale
Over the weekend, the number of houses for sale in eastern Monmouth County jumped to over 4,000 for the first time since I started keeping track. Whether you are a believer in the real estate bubble or not, that is a lot of inventory and does not include houses that are not on the MLS system such as For Sale by Owner listings. Looking back at the data from last year, there were about 2,700 homes for sale in eastern Monmouth County in mid-June 2005.
I think there are more FSBO houses for sale now than there were six months ago. One of the reasons why there might be more now than a few months ago is because selling the house yourself is the only way for many people to get out with a profit or minimal loss.
Anecdotally, I heard someone, who is totally disinterested in real estate, remark that their seemed to be a lot of vacant houses with for sale signs in his subdivision in Jackson. I also heard, for the first time, a “third-hand” rumor that two houses in the area were specifically listed because the owner could not afford the recent reset on their ARM.
I think there are more FSBO houses for sale now than there were six months ago. One of the reasons why there might be more now than a few months ago is because selling the house yourself is the only way for many people to get out with a profit or minimal loss.
Anecdotally, I heard someone, who is totally disinterested in real estate, remark that their seemed to be a lot of vacant houses with for sale signs in his subdivision in Jackson. I also heard, for the first time, a “third-hand” rumor that two houses in the area were specifically listed because the owner could not afford the recent reset on their ARM.
posted by Little_Silvered at 6:11 PM
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