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Market Trends
Commentary Provided byJohn Meeker If you can qualify, now is an exceptional time to buy a home in Colts Neck. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 732-910-2593 |
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| Report Date | Fall 2009 | ||
| Nearest Metro Area | New York City | ||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||
| Average Time on Market | More than 120 days | ||
| Market Trend | Decreasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Average Home Price | $950,000 - View Graph Trend | ||
| Best Selling Price Range | $700,000 - $749,000 | ||
| Worst Selling Price Range | $1,000,000+ | ||
| Compared to Last Year | Down 5-10% | ||
| Prices As % of Asking Price | 90-95% | ||
| Multiple Offers? | No | ||
| Greatest Activity | Repeat Buyers | ||
| Buyer Activity for the past 90 days in Colts Neck is | Increasing | ||
| Seller Activity for the past 90 days in Colts Neck is | Increasing | ||
| Is Financing Available For Qualified Buyers in Colts Neck? | Yes | ||
| Existing Home Prices for the past 90 days are | Decreasing | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% | ||
| Housing Hot Spots | Most cities within the Monmouth County area are considered 'Housing Hotspots' | ||
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy in Colts Neck! | ||
| Average Sold Price | $950,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
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John Meeker
Weichert Realtors-Howell Office Freehold, New Jersey 732-910-2593 JMeeker@Weichert.com Agent Home Page 
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Colts Neck Local News
News for Colts Neck, NJ - Saturday October 31st, 2009 9:58am
Senators agree to extend homebuyer tax credit
Set to expire at end of November, plan will remain until end of April
WASHINGTON - Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.
The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.
Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.
The tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, said a congressional aide, who spoke on condition of anonymity because he was not authorized to publicly discuss the deal.
Senators were still negotiating the expansion of a separate tax credit that lets money-losing businesses get refunds for taxes paid in previous years, providing them with an immediate source of cash.
Senators in both political parties were hoping to add both tax provisions to a bill that would give people running out of unemployment insurance benefits up to 20 more weeks of federal aid. The Senate could vote on the overall bill as early as Thursday, but lawmakers were still haggling over several unrelated amendments Wednesday evening.
Click for related content
Newsvine vote: Good idea to extend credit?
Popular bills like the one to extend unemployment benefits often attract amendments that would have a difficult time passing on their own.
Republicans were demanding that they be given a chance to offer amendments to restrict federal aid to the beleaguered community activist group ACORN and on requiring that people receiving unemployment insurance be processed through E-Verify, an Internet-based system that employers use to check on the immigration status of new hires.
Majority Democrats have refused to add the amendments
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