Buy Low, Sell High
This is the "golden rule" when it comes to obtaining the greatest return on investment! For many of us, our largest investment is, or will be, our home. That is why we, as REALTORS, should be advising anyone and everyone who is considering purchasing a home to DO IT NOW!
The Proof Is In The Data
Monday, June 02, 2008
Category - SingleFamily
|
Month
|
Year
|
Monthly Sales
|
Avg ListPrice
|
Avg Sale Price
|
% Diff Sell/list
|
Avg DOM
|
Curr Inventory
|
Months Inventory
|
|
January
|
2007
|
62
|
$432,723
|
$404,088
|
93.38%
|
88.0
|
688
|
11.10
|
|
February
|
2007
|
52
|
$411,500
|
$389,525
|
94.66%
|
105.0
|
714
|
13.73
|
|
March
|
2007
|
81
|
$460,791
|
$426,744
|
92.61%
|
102.0
|
729
|
9.00
|
|
April
|
2007
|
80
|
$428,563
|
$404,167
|
94.31%
|
118.0
|
753
|
9.41
|
|
May
|
2007
|
90
|
$449,094
|
$430,309
|
95.82%
|
86.0
|
846
|
9.40
|
|
June
|
2007
|
88
|
$445,644
|
$425,660
|
95.52%
|
80.0
|
872
|
9.91
|
|
July
|
2007
|
81
|
$402,287
|
$383,148
|
95.24%
|
76.0
|
879
|
10.85
|
|
August
|
2007
|
90
|
$403,178
|
$381,372
|
94.59%
|
100.0
|
865
|
9.61
|
|
September
|
2007
|
58
|
$398,898
|
$374,859
|
93.97%
|
86.0
|
861
|
14.84
|
|
October
|
2007
|
66
|
$408,591
|
$392,563
|
96.08%
|
97.0
|
845
|
12.80
|
|
November
|
2007
|
77
|
$466,345
|
$435,895
|
93.47%
|
96.0
|
789
|
10.25
|
|
December
|
2007
|
57
|
$434,232
|
$405,609
|
93.41%
|
92.0
|
742
|
13.02
|
|
|
|
Total
|
|
882
|
$428,487
|
$404,495
|
94.40%
|
93.8
|
799
|
11.16
|
|
|
|
January
|
2008
|
45
|
$333,396
|
$316,134
|
94.82%
|
101.0
|
715
|
15.89
|
|
February
|
2008
|
48
|
$401,981
|
$382,167
|
95.07%
|
99.0
|
728
|
15.17
|
|
March
|
2008
|
58
|
$402,336
|
$378,614
|
94.10%
|
99.0
|
773
|
13.33
|
|
April
|
2008
|
64
|
$410,389
|
$388,173
|
94.59%
|
101.0
|
850
|
13.28
|
|
May
|
2008
|
63
|
$451,179
|
$420,043
|
93.10%
|
84.0
|
849
|
13.48
|
|
|
|
Total
|
|
278
|
$399,856
|
$377,026
|
94.29%
|
96.8
|
783
|
14.23
|
|
|
|
Note:
|
The "Current Inventory" column reflects the number of active listings on the market on the 16th day of each Month.The "Months of Inventory" column is equal to the "Current Inventory" divided by the "Monthly Sales". This reflects how many months it would take to sell out of inventory at the current month's rate of sale.
|
As we can plainly see; the Toms River Real Estate Market is showing signs of stability! Sure, some price ranges may continue to fall over the next few months as the "pending" inventory closes but...will rates remain at historically low levels over that same period of time?
I Want My Cake and Eat It Too
If indeed, as I believe, we are at or very near the "bottom" of this real estate cycle, it is just a matter of time before the "savy real estate investor" enters the market and begins to stimulate the market. As sales increase, so will interest rates (as sure as the rising and setting of the sun)! Now here's the rub; that buyer who's sitting on the fence, trying to perfectly time their purchase, they are going to get BURNED!
Remember this graphic*: 
Rates are already at or near 6.35% for a 30 year fixed mortgage! So, BUYERS, if you're reading this post...GET OFF THE FENCE TODAY! That way, tomorrow, you can say, "I bought my home yesterday when it was the BEST TIME to buy."
*A mathematical discrepancy was discovered in this particular example but the principle remains sound. |
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