Today's Real Estate Market in South Jersey

A friend said to me"They meaning you Realtors say prices are going up but what is the real story because there are conflicting reports?"
Well here are the facts: The average price in south Jersey according to TREND MLS is higher than last year. But here is why: much of the really low priced inventory, homes below $100,000 have already sold and homes priced  higher than $500,000 have started to sell and those 2 factors have raised the average sales price.
The number of home sales are are higher than last year but there still is a lot of inventory ( homes currently on the market) and a lot of Short Sales that still have to sell before we will see prices rise.

New Listing Short Sale

 http://youtu.be/ECqQ_503LRQ 1206 Clement Circle Gloucester Twp Somerdale PO NJ 08083 MLS# 6063033 
Great home with lots of room, 4 bedrooms 2 full baths, in-law suite located on a quiet no thru street.

TimberBirch subdivision. $185,000 Short Sale

Great Open House on Sunday

We had more that 43 guests visit the Open House and generated 4 offers and are now going to contract. Do not believe all the "Doom & Gloom" the news says about the real estate market, because we are selling houses. In fact real estate is so good: we are having a SALE!

Building lot For Sale

http://www.tinyurl.com/1610-6th Want to build your dream home? Check out these 26+ Acres

Another home creatively marketed by Nancy Chambers

http://www.tinyurl.com/226Godshalk
Please view my latest video of a home that I have for in Clementon, NJ  at $120,000

Home for Sale - 441 Fortescue Rd Fortescue NJ 08321

Short Sale or Foreclosure?

Troubled sellers often ask me; "Since I do not have any equity, why should I go thru the hassle of a Short Sale when I can do a Deed in Lieu of Foreclosure or just let my home go to Sheriff Sale/Foreclosure?" Here is the big reason why it is better to do a Short Sale. Either option will adversely effect your credit score however a Short Sale will have less impact and recovery time will be shorter.
Short Sale = about 150-200 points off your credit score and recovery time = 24 months
Foreclosure or Deed in Lieu of Foreclosure = 250+ points off your credit score and recovery time = 60 months