Tuesday, January 09, 2007

Asbury Park Press Internet Poll, or Something

The Asbury Park Press has the following text on their website (see below). In classic APP fashion, it does not appear to link to anything. If someone could find the link, please tell me where it is.

"What's ailing the real estate market?

Are mortgage rates too high? Home prices too high? Buyers fearful of not recouping their investment or not being able to afford a downpayment? Or none of the above?

Now is your chance to sound off. Visit our Web site at www.app.com and click on Business to vote. Readers are also invited to email us their comments. "

APP Web Page


Blogger Just_sayin said...

From the app.com homepage, scroll down and click on the "Business" category.

The poll is along the right side of the screen.

Wednesday, January 10, 2007 4:56:00 AM  
Anonymous Anonymous said...




With home sales down about 20 percent in Monmouth and Ocean counties, real estate agencies are cutting expenses and diversifying their businesses. And as the business gets more competitive, some agents are deciding not to renew their licenses.

Posted by the Asbury Park Press on 01/14/07

Post Comment
It's not easy being a real estate agent anymore.

In the heady days of the market in 2004 and 2005, houses were selling like hot cakes as prices rocketed up.

That's no longer the case. As home prices showed signs of peaking last year, buyers sensed a change in the market and no longer were willing to pay the asking prices on many properties. At first, homeowners were reluctant to drop their prices. The result? Real estate sales stalled in 2006.

And just as sellers and buyers have been struggling to adjust to changing market conditions, so has the real estate industry.

Since the industry's revenue comes from commissions, when sales slow down, so does its revenue. To cope, agencies are employing a number of strategies. Some are cutting expenses, while others are actually increasing their marketing and spending more on training. Some agencies are diversifying into other areas of business such as insurance. Individually, some agents have decided to take some time off and are putting their real estate licenses on hold.

"The agents that are buckling down and are really going to focus on getting listings priced well and working with motivated buyers . . . are still doing well," said Ric Martel, general sales manager at Prudential Zack Shore Properties.

"(But) people who were in the business for the easy sale or the quick sale, or they were going to try out the real estate business because they felt it was a great market, they have not done well at all."

How big of a hit has the market taken?

Homes sales in Monmouth County through the end of November dropped by 18 percent to 7,406 compared with the same period a year earlier, according to Jeffrey G. Otteau, president of the Otteau Valuation Group in East Brunswick. Sales in Ocean County during the same period fell by 20 percent to 7,352 during the same period.

READ SOME MORE-> http://www.app.com/apps/pbcs.dll/article?AID=/20070114/BUSINESS/701140331/1003

Monday, January 15, 2007 1:26:00 AM  
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Asbury Park is a city in Monmouth County, New Jersey, United States, on the Jersey Shore. As of the United States 2000 Census, the city population was 16,930.
Asbury Park was originally incorporated as a borough by an Act, sportsbook, of the New Jersey Legislature on March 26, 1874, from portions of Ocean Township. The borough was reincorporated on February 28, 1893. Asbury Park was incorporated as a city, its current type of government, as of March 25, 1897.

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