South Jersey » South Jersey http://www.roxanneardary.com Real Estate and Homes for Sale Thu, 15 Dec 2011 15:43:06 +0000 en hourly 1 South Jersey Real Estate Market Update July 2011 http://www.roxanneardary.com/blog/south-jersey-real-estate-market-update-071/ http://www.roxanneardary.com/blog/south-jersey-real-estate-market-update-071/#comments Tue, 02 Aug 2011 12:52:49 +0000 Roxanne http://www.roxanneardary.com/?p=2753 The South Jersey Real Estate market update is provided for Burlington, Camden, and Gloucester counties.   The data is provided by Trend MLS as of today, August 2, 2011.  The final sales figures for last month aren’t available yet, the information is up to date in terms of inventory and currently recorded sales and pending transactions.  Trends data is deemed reliable but not guaranteed.

Burlington County

The Burlington County real estate market currently has 4,326 residential units for sale.  Burlington County has averaged 247 sales per month over the last 12 months, giving Burlington County and inventory accumulation of 17 months.   The average original listing price for homes for sale in Burlington County was $274,092 however the average sold price was $244,819.

Preliminary year over year comparison:

July 2010 Listings: 819
July 2011 Listings: 656

July 2010 Pending / Under Contract: 288
July 2011 Pending / Under Contract:  243

July 2010 Settled/Sold: 265
July 2011 Settled/Sold: 315

Camden County

The Camden County real estate market currently has 4,433 residential properties for sale.   Camden County has averaged 231 sales per month over the last 12 months giving Camden County an inventory accumulation of 19 months.  The average original list price for homes for sale in Camden County was $219,718 and the average sold price was $195,273.

Preliminary year over year comparison:

July 2010 Listings: 809
July 2011 Listings: 666

July 2010 Pending / Under Contract: 285
July 2011 Pending / Under Contract: 226

July 2010 Settled/Sold: 280
July 2011 Settled/Sold: 280

Gloucester County

The Gloucester County real estate market currently has 2,652 residential properties for sale.  Gloucester County has averaged 149 sales per month for the last 12 months, giving Gloucester County an inventory accumulation of 17 months.  The average original list price for homes for sale in Gloucester County was $230,023  and the average sold price was $206,680.

Preliminary year over year comparison:

July 2010 Listings: 475
July 2011 Listings:  422

July 2010 Pending / Under Contract: 173
July 2011 Pending / Under Contract:  167

July 2010 Settled/Sold:  147
July 2011 Settled/Sold: 188

]]> http://www.roxanneardary.com/blog/south-jersey-real-estate-market-update-071/feed/ 1 The Sanctuary, Marlton NJ http://www.roxanneardary.com/blog/the-sanctuary-marlton-nj/ http://www.roxanneardary.com/blog/the-sanctuary-marlton-nj/#comments Mon, 14 Mar 2011 12:43:29 +0000 Roxanne http://www.roxanneardary.com/?p=1070 The Sanctuary

The Sanctuary is located in Evesham Township, also known as Marlton, NJ and features luxury executive homes nestled into beautiful 1+ acre wooded lots. The Sanctuary is a prestigious upscale community and the homes feature stately exteriors and luxurious interiors. Construction in the Sanctuary began in the late 1990′s by various builders including Paparone, Steliga, and Signature Homes. New construction home sites are available including on desireable lakefront lots. Base Pricing begins at $399,000 up to $579,900 for varying sized models and feature 4 bedrooms, 2.5 – 3.5 bathrooms and 2 car garage.

Recent sales on existing homes have ranged from $365,000 for a 2,100 sq. ft, 3 bedroom, 2.5 bath home sitting on just over an acre, to $620,00 for a 4,000 sq. ft, 4 bedroom, 3 and a half bath home, on 2 acres.

If you are interest in available homes in The Sanctuary use my contact form below to request additional information and listings.

If you would like assistance in selling your home in The Sanctuary please contact me by phone (856) 857-2219 or by using my home value request form and we would be happy to assist you.

 

Showing properties 1 - 12 of 21. See more The Sanctuary Marlton NJ Homes for Sale.
(all data current as of 2/3/2012)

  1. 4 beds, 3 full, 1 part baths
    Home size: 2,950 sq ft
    Lot size: 1.44 ac
    Year built: 2003
    Parking spots: 5
    Listing with: Long and Foster - Moorestown
  2. 5 beds, 3 full, 1 part baths
    Home size: 3,447 sq ft
    Lot size: 1.37 ac
    Year built: 2002
    Parking spots: 6
    Listing with: Long and Foster-Haddonfield
  3. 4 beds, 3 full, 1 part baths
    Home size: 3,240 sq ft
    Lot size: 1.10 ac
    Year built: 2005
    Parking spots: 3
    Listing with: Pat McKenna Realtors
  4. 4 beds, 3 full, 1 part baths
    Home size: 4,200 sq ft
    Lot size: 1.34 ac
    Year built: 2002
    Parking spots: 6
    Listing with: Prudential Fox & Roach Realtors-Cherry Hill
  5. 4 beds, 2 full, 1 part baths
    Home size: 3,942 sq ft
    Lot size: 2.21 ac
    Year built: 2002
    Parking spots: 6
    Listing with: Weichert Realtors-Cherry Hill
  6. 4 beds, 3 full, 1 part baths
    Home size: 3,251 sq ft
    Lot size: 1.01 ac
    Year built: 1998
    Parking spots: 3
    Listing with: Prudential Fox & Roach Realtors-Medford
  7. 4 beds, 2 full, 1 part baths
    Lot size: 3.07 ac
    Year built: 2011
    Parking spots: 2
    Listing with: Pat McKenna Realtors
  8. 4 beds, 2 full, 1 part baths
    Lot size: 3.60 ac
    Year built: 2011
    Parking spots: 2
    Listing with: Pat McKenna Realtors
  9. 4 beds, 2 full, 1 part baths
    Home size: 2,535 sq ft
    Lot size: 1.34 ac
    Year built: 1999
    Parking spots: 5
    Listing with: Prudential Fox & Roach Realtors-Medford
  10. 4 beds, 2 full, 1 part baths
    Lot size: 2.20 ac
    Year built: 2011
    Parking spots: 2
    Listing with: Pat McKenna Realtors
  11. 4 beds, 2 full, 1 part baths
    Lot size: 2.20 ac
    Year built: 2011
    Parking spots: 2
    Listing with: Pat McKenna Realtors
  12. 4 beds, 2 full, 1 part baths
    Lot size: 2.20 ac
    Year built: 2011
    Parking spots: 2
    Listing with: Pat McKenna Realtors

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Additional Details:


View The Sanctuary in a larger map


Request More Information: 

If you have any questions, would like to schedule an appointment to tour a home, or would like additional information on any real estate listing please fill out the form below and I will be in touch by phone or email as soon as possible.    The Sanctuary real estate and homes for sale has been provided by Roxanne Ardary, a real estate agent and Realtor serving Marlton and surrounding areas. 

Community Information Request
  1. (required)
  2. (valid email required)
 

]]> http://www.roxanneardary.com/blog/the-sanctuary-marlton-nj/feed/ 1 South Jersey Active Adult Communities http://www.roxanneardary.com/blog/south-jersey-active-adult-5/ http://www.roxanneardary.com/blog/south-jersey-active-adult-5/#comments Tue, 29 Dec 2009 15:29:47 +0000 Roxanne http://www.roxanneardary.com/?p=640 Over last the decade the Active Adult Communities throughout South Jersey have become increasingly more popular.  In response, there have been numerous age restricted, 55 an over, communities that have been constructed throughout southern New Jersey and within Burlington, Camden, and Gloucester Counties.  Each age restricted community has been designed to provide the desired lifestyle and amenities that are sought after by active adults within this population segment or planning for retirement.

The following South Jersey communities are sorted by county, then town.  More detailed information can be obtained by following the links or requesting information in the form below.

Active Adult Communities in Burlington County

55 and Over Communities in Camden County

  • New Freedom Village – Berlin Borough
  • Montebello (West Berlin) Berlin Township
  • The Plaza Grande at Garden State Park – Cherry Hill
  • Villagio – Cherry Hill
  • Heritage Village – Gibbsboro
  • Highland Estates – (Clementon) Gloucester Township
  • Shenandoah Village   (Sicklerville) Gloucester Township 
  • Four Seasons At Forest Meadows  (Sicklerville) Gloucester Township
  • Villas at Broad Acres- Gloucester Township
  • The Maples – Pennsauken
  • Maple Commons – Pennsauken
  • Centennial Mill – Voorhees
  • Braddock Preserve – Winslow Township
  • Elmtowne – (Hammonton) Winslow Township
  • Hearthstone
  • The Norways – (Sicklerville) – Winslow Township
  • Renaisssance at Woodlands – Winslow Township
    Click for more info on Camden County communities

Active Adult 55+ Communities in Gloucester County

  • Silver Lake – Clayton Borough
  • Villages at Aberdeen – Clayton Borough
  • Heritage – Deptford Township
  • Lakebridge – Deptford Township
  • Bridlewood – Deptford Township
  • Northgate Heritage Deptford Township
  • Gatherings at E. Greenwich – E. Greenwich Township
  • The Vineyards at Silver – Elk Township (Glassboro)
  • The Village Grande at Camelot – Glassboro Borough
  • Reserves at Lake Oberst – Glassboro Borough
  • Spicer Estates (Mullica Hill) Harrison Township
  • Cedar Grove – Mantua Township
  • Country Gardens – (Sewell) Mantua Township
  • Spring Valley – Mantua Township
  • Summerfields – (Williamstown) Monroe Township
  • Holiday Village -(Williamstown)Monroe Township
  • Sunny Estates – Monroe Township
  • Parke Place – Williamstown
  • The Maples – (Sewell) Williamstown
  • Heatherwood – (Sewell) Williamstown
  • Riverwinds – West Deptford Township
  • Reserves at Riverwinds – West Deptford Township
  • Pelican Place at Riverwinds -  (Thorofare) West Deptford Township
  • Village Grande at Kingswoods – West Deptford Township
  • Four Seasons at Weatherby – Woolwich Township
    Click for more info on Gloucester County communities

Visit the above links or fill out the following form if you would like more detailed information on any South Jersey active adult communities.

Active Adult Communities Request
  1. (required)
  3. (valid email required)
  4. Property Type - Select All That Apply
  8. Property Description
  11. Property Location - Select all that apply
  17. By submitting this form you are becoming a registered member of this site. You are giving Roxanne Ardary, or her associates, permission to contact you by email or by phone to answer any questions you may have, send information including but not limited to: property updates, new listings, open houses, and newsletters even if you are registered with the Federal "Do Not Call" list. We will NEVER give out your information to third parites. Please read our privacy statement. (will open in a new window)
 

]]> http://www.roxanneardary.com/blog/south-jersey-active-adult-5/feed/ 0 Year To Date Housing Market Snapshot – Nov’09 http://www.roxanneardary.com/blog/ytd-housing-market-nov09/ http://www.roxanneardary.com/blog/ytd-housing-market-nov09/#comments Thu, 17 Dec 2009 16:28:32 +0000 Roxanne http://www.roxanneardary.com/?p=629 The year to date South Jersey housing market snapshot is provided by Trend MLS for transactions occuring between Jan. 1 through Nov. 30 with a 3 year comparison for Single Family Home sales. 

Burlington County:

Settled Units:

  • 2007: 4,221
  • 2008:  3,285 (2007/2008 change: -22.17%)
  • 2009:  3,139 (2008/2009 change: -4.44%)

Average Settled Price:

  • 2007: $303,000
  • 2008: $284,000 (2007/2008 change: -6.27%)
  • 2009: $257,000 (2008/2009 change: -9.51%)

Median Settled Price:

  • 2007: $263,000
  • 2008: $246,000 (2007/2008 change: -6.46%)
  • 2009: $224,000 (2008/2009 change: -8.94%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 94.23%
  • 2008: 91.67% (2007/2008 change: -2.72%)
  • 2009: 90.56% (2008/2009 change: -1.21%)

 

Camden County:

Settled Units:

  • 2007: 5,019
  • 2008: 3,722 (2007/2008 change: -25.84%)
  • 2009: 3,594 (2008/2009 change: -3.44%)

Average Settled Price:

  • 2007: $224,000
  • 2008: $214,000 (2007/2008 change: -4.46%)
  • 2009: $200,000 (2008/2009 change: -6.54%)

Median Settled Price:

  • 2007: $202,000
  • 2008: $195,000 (2007/2008 change: -3.47%)
  • 2009: $185,000 (2008/2009 change: -5.13%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 94.44%
  • 2008: 92.07% (2007/2008 change: -2.51%)
  • 2009: 90.49% (2008/2009 change: -1.72%)

 

Gloucester County:

Settled Units:

  • 2007: 2,757
  • 2008: 2,053 (2007/2008 change: -25.54%)
  • 2009: 1,999 (2008/2009 change: -2.63%)

Average Settled Price:

  • 2007: $255,000
  • 2008: $242,000 (2007/2008 change: -5.10%)
  • 2009: $223,000 (2008/2009 change: -7.85%)

Median Settled Price:

  • 2007: $235,000
  • 2008: $223,000 (2007/2008 change: -5.11%)
  • 2009: $201,000 (2008/2009 change: -9.87%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 94.19%
  • 2008: 92.21% (2007/2008 change: -2.10%)
  • 2009: 90.66% (2008/2009 change: -1.68%)

 

Mercer County:

Settled Units:

  • 2007: 3,114
  • 2008: 2,365 (2007/2008 change: -24.05%)
  • 2009: 2,315 (2008/2009 change: -2.11%)

Average Settled Price:

  • 2007: $370,,000
  • 2008: $382,000 (2007/2008 change: +3.24%)
  • 2009: $333,000 (2008/2009 change: -12.83%)

Median Settled Price:

  • 2007: $287,000
  • 2008: $289,000 (2007/2008 change: +0.70%)
  • 2009: $257,000 (2008/2009 change: -11.07%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 93.21%
  • 2008: 91.44% (2007/2008 change: -1.90%)
  • 2009: 89.78% (2008/2009 change: -1.82%)

 

Salem County:

Settled Units:

  • 2007: 583
  • 2008: 384 (2007/2008 change: -34.13%)
  • 2009: 422 (2008/2009 change: +9.90%)

Average Settled Price:

  • 2007: $191,000
  • 2008: $189,000 (2007/2008 change: -1.05%)
  • 2009: $167,000 (2008/2009 change: -11.64%)

Median Settled Price:

  • 2007: $172,000
  • 2008: $175,000 (2007/2008 change: +1.74%)
  • 2009: $159,000 (2008/2009 change: -9.14%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 92.15%
  • 2008: 90.57% (2007/2008 change: -1.71%)
  • 2009: 86.89% (2008/2009 change: -4.06%)
]]> http://www.roxanneardary.com/blog/ytd-housing-market-nov09/feed/ 0 Cinnaminson NJ Home Sales Report http://www.roxanneardary.com/blog/cinnaminson-nj-home-sales-0209/ http://www.roxanneardary.com/blog/cinnaminson-nj-home-sales-0209/#comments Sat, 21 Mar 2009 13:32:39 +0000 Roxanne http://www.roxanneardary.com/?p=293 Cinnaminson, NJ real estate market activity report as of March 21, 2009.  Cinnaminson currently has 113 active MLS listings within Trend MLS.  The historical data provided is for February 2008 through February 2009, in which there was an average of 9 residential properties sold per month giving Cinnaminson an inventory accumulation of 12 months. 

Monthly Statistics for Cinnaminson, NJ between February 2008 and February 2009

Date

Units Listed

Listed Average

Pended

Units Sold

Sold Average

Average DOM

Feb 2009

23

387,041

8

9

240,155

114

Jan 2009

19

296,320

11

9

214,166

123

Dec 2008

16

231,418

9

7

229,500

117

Nov 2008

18

250,659

4

7

287,857

89

Oct 2008

26

281,857

8

6

282,583

85

Sep 2008

25

298,316

8

8

253,812

90

Aug 2008

25

317,811

10

15

261,973

106

July 2008

29

318,975

11

10

280,090

31

June 2008

19

293,542

11

16

304,453

102

May 2008

26

306,095

10

6

277,500

90

Apr 2008

25

367,284

10

12

232,700

72

Mar 2008

24

368,162

16

5

250,280

97

Feb 2008

26

297,819

5

8

407,062

97

 

 

 

 

 

 

 

Totals:

301

312,377

121

118

271,215

93

Inventory Accumulation for the Last 12 Full Months

 

 

 

 

 

Current Inventory *

Inventory Volume

Current Average

Average Monthly Sales**

Inventory Accumulation ***

113

36,039,936

318,937

9

12

*Current Inventory is based on the actual available properties on the date this report was created.
**Average Monthly Sales is the average sales for the last 12 full months
***Inventory accumulation (in months) = Current Inventory Units / Average Monthly Sales  

Pricing Details of Sold Units for the Date Range Selected

Minimum Prices

Maximum Prices

Average Prices

Original List Price : $105,000

Original List Price: $994,500

Original List Price: $297,403

Sold Price : $83,000

Sold Price: $900,000

Sold Price: $271,215

 

 

 

 

Market Statistics Criteria Used

Date Range:

2/2008 to 2/2009

Price Range:

$0 to $9,999,000

Property Category:

Residential

Area:

Cinnaminson Twp

 © Copyright 2009 TREND MLS – Information Deemed Reliable but Not Guaranteed. Printed 3/21/2009 8:58:53 AM

If you would like the data on any municipality within Burlington, Camden, Gloucester, Mercer, or Salem counties post a request in the responses and I will get it up for you.

-Roxanne Ardary

]]> http://www.roxanneardary.com/blog/cinnaminson-nj-home-sales-0209/feed/ 0 South Jersey YTD Housing Market Snapshot – Feb 09 http://www.roxanneardary.com/blog/south-jersey-ytd-housing-market-feb09/ http://www.roxanneardary.com/blog/south-jersey-ytd-housing-market-feb09/#comments Wed, 18 Mar 2009 07:37:42 +0000 Roxanne http://www.roxanneardary.com/?p=292 The year to date housing market snapshot is provided by Trend MLS and includes home sales information for transactions recorded from January 1st through February 28th within Burlington, Camden, Gloucester, Mercer, and Salem Counties.  The three year comparison is for the same time period in 2007, 2008, and 2009.

Burlington County Single Family Home Sales:

Settled Units:

2007: 582
2008: 454 (2007/2008 change: -21.99%)
2009: 350 (2008/2009 change: -22.91%)

Average Settled Price:

2007: $302,000
2008: $270,000 (2007/2008 change: -10.60%)
2009: $254,000 (2008/2009 change: -5.93%)

Median Settled Price:

2007: $259,000
2008: $230,000 (2007/2008 change: -11.20%)
2009: $220,000 (2008/2009 change: -4.35%)

Average Percentage Settled Price was of Original Listing Price:

2007: 93.68%
2008: 91.99% (2007/2008 change: -1.80%)
2009: 88.56% (2008/2009 change: -3.73%)

Camden County Single Family Home Sales:

Settled Units:

2007: 724
2008: 538 (2007/2008 change: -25.69%)
2009: 395 (2008/2009 change: -26.58%)

Average Settled Price:

2007: $214,000
2008: $205,000 (2007/2008 change: -4.21%)
2009: $183,000 (2008/2009 change: -10.73%)

Median Settled Price:

2007: $192,000
2008: $190,000 (2007/2008 change: -1.04%)
2009: $170,000 (2008/2009 change: -10.53%)

Average Percentage Settled Price was of Original Listing Price:

2007: 94.13%
2008: 91.46% (2007/2008 change: -2.84%)
2009: 88.35% (2008/2009 change: -3.40%)

Gloucester County Single Family Home Sales:

Settled Units:

2007: 416
2008: 278 (2007/2008 change: -33.17%)
2009: 248 (2008/2009 change: -10.79%)

Average Settled Price:

2007: $244,000
2008: $235,000 (2007/2008 change: -3.69%)
2009: $218,000 (2008/2009 change: -7.23%)

Median Settled Price:

2007: $229,000
2008: $215,000 (2007/2008 change: -6.11%)
2009: $200,000 (2008/2009 change: -6.98%)

Average Percentage Settled Price was of Original Listing Price:

2007: 94.11%
2008: 92.57% (2007/2008 change: -1.64%)
2009: 89.22% (2008/2009 change: -3.62%)

Mercer County Single Family Home Sales:

Settled Units:

2007: 433
2008: 311 (2007/2008 change: -28.18%)
2009: 219 (2008/2009 change: -29.58%)

Average Settled Price:

2007: $306,000
2008: $383,000 (2007/2008 change: +25.16%)
2009: $304,000 (2008/2009 change: -20.63%)

Median Settled Price:

2007: $255,000
2008: $280,000 (2007/2008 change: +9.80%)
2009: $245,000 (2008/2009 change: -12.50%)

Average Percentage Settled Price was of Original Listing Price:

2007: 92.18%
2008: 89.85% (2007/2008 change: -2.53%)
2009: 87.67% (2008/2009 change: -2.43%)

Salem County Single Family Home Sales:

Settled Units:

2007: 83
2008: 58 (2007/2008 change: -30.12%)
2009: 36 (2008/2009 change: -37.93%)

Average Settled Price:

2007: $166,000
2008: $204,000 (2007/2008 change: +22.89%)
2009: $148,000 (2008/2009 change: -27.45%)

Median Settled Price:

2007: $142,000
2008: $182,000 (2007/2008 change: +28.17%)
2009: $130,000 (2008/2009 change: -28.57%)

Average Percentage Settled Price was of Original Listing Price:

2007: 93.82%
2008: 90.91% (2007/2008 change: -3.10%)
2009: 83.29% (2008/2009 change: -8.38%)

]]> http://www.roxanneardary.com/blog/south-jersey-ytd-housing-market-feb09/feed/ 0 South Jersey Home Sales and Inventory March ’09 http://www.roxanneardary.com/blog/south-jersey-home-sales-inventory-0309/ http://www.roxanneardary.com/blog/south-jersey-home-sales-inventory-0309/#comments Sun, 15 Mar 2009 20:57:58 +0000 Roxanne http://www.roxanneardary.com/?p=280 The South Jersey home sales and inventory data is provided by Trend MLS as of March 15, 2009.  The information includes residential home sales and listings that have been recorded in Trend MLS within Burlington, Camden, Gloucester, Mercer, and Salem Counties.

Burlington County Home Sales:

Current active listings: 3,745
February new listings: 724
Homes sold per month – 12 month average : 336
February units pending settlement: 245
February units sold: 215
Inventory accumulation: 11 months
Days on Market – 12 month average: 93
Average sold price YTD: $244,007

Camden County Home Sales:

Current active listings: 3,878
February new listings: 748
February units pending settlement: 285
February units sold: 246
Homes sold per month – 12 month average : 321
Inventory accumulation: 12 months
Days on Market – 12 month average: 84
Average sold price YTD: $185,736

Gloucester County Home Sales:

Current active listings: 2,376
February new listings:  488
February units pending settlement:  142
February units sold:  143
Homes sold per month – 12 month average :  200
Inventory accumulation: 11 months
Days on Market – 12 month average:  93
Average sold price YTD: $213,214

Mercer County Home Sales:

Current active listings: 2286
February new listings:  515
February units pending settlement:  196
February units sold: 126
Homes sold per month – 12 month average :  233
Inventory accumulation:  9 months
Days on Market – 12 month average:  87
Average sold price YTD:  $300,308

Salem County Home Sales:

Current active listings: 607
February new listings:  88
February units pending settlement:  44
February units sold:  18
Homes sold per month – 12 month average :  31
Inventory accumulation: 19 months
Days on Market – 12 month average:  102
Average sold price YTD:  $155,822

Trend MLS disclaimer: Information Deemed Reliable but Not Guaranteed. 

]]> http://www.roxanneardary.com/blog/south-jersey-home-sales-inventory-0309/feed/ 0 Corzine’s NJ Budget Proposal: Tax Hikes and Rebates Cut http://www.roxanneardary.com/blog/corzines-nj-budget-proposal/ http://www.roxanneardary.com/blog/corzines-nj-budget-proposal/#comments Wed, 11 Mar 2009 15:00:18 +0000 Roxanne http://www.roxanneardary.com/?p=278 Corzine announced his budget proposal yesterday which has many NJ residents very upset and speaking out against the proposed changes.  From the article in the Courier Post: Corzine’s budget seeks tax hikes, cut in rebates

Gov. Jon S. Corzine is proposing a $29.8 billion state budget for the upcoming fiscal year that includes tax hikes of more than $1 billion, including the suspension of most homeowners’ ability to deduct property taxes from their income taxes.

Corzine said the deep recession requires difficult choices, including ending property tax rebates for households with incomes over $75,000 and more than a half-dozen increases in taxes. He said the budget’s $7 billion structural deficit is addressed mostly through $4 billion in spending cuts and $2.2 billion in federal stimulus aid.

“Make no mistake: Because of where the world is right now, we must move in directions we might not otherwise choose,” Corzine said.

The tax changes include raising the tax rate on incomes over $500,000, taxing lottery winnings over $10,000, extending a 4 percent surcharge on corporate taxes, increasing cigarette taxes 12.5 cents a pack and boosting taxes on liquor and wine by 25 percent.

Most surprising was Corzine’s proposal to suspend, except for seniors, taxpayers’ ability next year to deduct their property taxes from their income taxes. The one-year move would cost taxpayers an estimated $400 million, the administration says. 

Businesses will face an increase in payroll taxes:

Payroll taxes would be increased on businesses, despite deposits by the state and federal governments into the depleted unemployment fund. New Jersey will put in $150 million, not the $270 million announced last month. Corzine said it would take a deposit of $500 million or more to avoid a payroll tax increase but that the money being put in will help limit the increase.

State workers will have to contend with one of two scenarios:  

Corzine said he wants to reduce personnel costs by $400 million by freezing state workers’ wages and furloughs throughout fiscal 2010. The alternative, he said, would be to lay off as many as 7,000 workers. College employees’ salaries would also be frozen.

A number of other tax hikes on various goods were also mentioned. In regards to the homeowner’s rebate cuts NorthJersey.com’s article posted this analysis:

Although many budget details had leaked in advance, the lost tax write-off caught many off guard. Corzine would remove the property tax deduction on income taxes for all but senior citizens, and eliminate property tax rebates for non-senior households making more than $75,000 a year. Non-senior households earning $50,000 to $75,000 would see their rebate check from last year slashed by a third. Last year’s program offered staggered rebates for households making up to $150,000.

That could translate into a double whammy for non-senior homeowners earning $75,000 to $150,000. They lose their rebate and hundreds of dollars from the deduction.

A homeowner earning $95,000, for example, would not only lose a $1,000-plus rebate. Scrapping the property tax deduction would take away another $350 or so, according to state figures.

“The loss of the deduction would make homeownership even harder for New Jersey residents who are struggling to make ends meet during this recession,” said Senate Minority Leader Tom Kean Jr., R-Union.

The revenue raised by eliminating the property tax deduction would help pay for the preserved rebates, Corzine said, adding that he wants to restore rebates to higher income families “as soon as the recovery of state revenues allows.”

If it passes would the unintended consequences be actually forcing stuggling homeowners into selling their homes (increasing inventory even more) or foreclosure which would then result in even less revenue generated for the state?  These changes would also impact future home buyers ability to afford to purchase a home and as a result home sellers would be forced to reduce home prices further to make up for the additional tax expense for the state. 

What are your thoughts on Corzine’s budget proposal? 

]]> http://www.roxanneardary.com/blog/corzines-nj-budget-proposal/feed/ 9 Year to Date Housing Market Snapshot – Jan 2009 http://www.roxanneardary.com/blog/year-date-housing-market-snapshot-jan-2009/ http://www.roxanneardary.com/blog/year-date-housing-market-snapshot-jan-2009/#comments Wed, 18 Feb 2009 01:22:10 +0000 Roxanne http://www.roxanneardary.com/?p=279 The housing market snapshot is provided by Trend MLS and includes home sales information for transactions recorded from January 1, 2009 through Jan. 31, 2009 within Burlington, Camden, Gloucester, Mercer, and Salem Counties.

Burlington County Single Family Home Sales:

Settled Units:

  • 2007: 254
  • 2008: 233 (2007/2008 change: -8.27%)
  • 2009: 162 (2008/2009 change: -30.47%)

Average Settled Price:

  • 2007: $330,000
  • 2008: $275,000 (2007/2008 change: -16.67%)
  • 2009: $257,000 (2008/2009 change: -6.55%)

Median Settled Price:

  • 2007: $265,000
  • 2008: $234,000 (2007/2008 change: -11.70%)
  • 2009: $225,000 (2008/2009 change: -3.85%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 93.04%
  • 2008: 91.26% (2007/2008 change: -1.91%)
  • 2009: 88.69% (2008/2009 change: -2.82%)

Camden County Single Family Home Sales:

Settled Units:

  • 2007: 353
  • 2008: 272 (2007/2008 change: -22.95%)
  • 2009: 159 (2008/2009 change: -41.54%)

Average Settled Price:

  • 2007: $223,000
  • 2008: $200,000 (2007/2008 change: -10.31%)
  • 2009: $182,000 (2008/2009 change: -9.00%)

Median Settled Price:

  • 2007: $192,000
  • 2008: $191,000 (2007/2008 change: -0.52%)
  • 2009: $175,000 (2008/2009 change: -8.38%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 93.96%
  • 2008: 91.55% (2007/2008 change: -2.56%)
  • 2009: 87.91% (2008/2009 change: -3.98%)

Gloucester County Single Family Home Sales:

Settled Units:

  • 2007: 195
  • 2008: 140 (2007/2008 change: -28.21%)
  • 2009: 120 (2008/2009 change: -14.29%)

Average Settled Price:

  • 2007: $247,000
  • 2008: $222,000 (2007/2008 change: -10.12%)
  • 2009: $215,000 (2008/2009 change: -3.15%)

Median Settled Price:

  • 2007: $229,000
  • 2008: $205,000 (2007/2008 change: -10.48%)
  • 2009: $195,000 (2008/2009 change: -4.88%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 93.63%
  • 2008: 92.05% (2007/2008 change: -1.69%)
  • 2009: 89.09% (2008/2009 change: -3.22%)

Mercer County Single Family Home Sales:

Settled Units:

  • 2007: 216
  • 2008: 166 (2007/2008 change: -23.15%)
  • 2009: 103 (2008/2009 change: -37.95%)

Average Settled Price:

  • 2007: $294,000
  • 2008: $401,000 (2007/2008 change: +36.39%)
  • 2009: $323,000 (2008/2009 change: -19.45%)

Median Settled Price:

  • 2007: $265,000
  • 2008: $298,000 (2007/2008 change: +12.45%)
  • 2009: $250,000 (2008/2009 change: -16.11%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 92.44%
  • 2008: 89.90% (2007/2008 change: -2.75%)
  • 2009: 89.74% (2008/2009 change: -0.18%)

Salem County Single Family Home Sales:

Settled Units:

  • 2007: 43
  • 2008: 30 (2007/2008 change: -30.23%)
  • 2009: 16 (2008/2009 change: -46.67%)

Average Settled Price:

  • 2007: $172,000
  • 2008: $198,000 (2007/2008 change: +15.12%)
  • 2009: $146,000 (2008/2009 change: -26.26%)

Median Settled Price:

  • 2007: $154,000
  • 2008: $182,000 (2007/2008 change: +18.18%)
  • 2009: $135,000 (2008/2009 change: -25.82%)

Average Percentage Settled Price was of Original Listing Price:

  • 2007: 93.30%
  • 2008: 90.52% (2007/2008 change: -2.98%)
  • 2009: 83.08% (2008/2009 change: -8.22%)
]]> http://www.roxanneardary.com/blog/year-date-housing-market-snapshot-jan-2009/feed/ 2 South Jersey Real Estate Market Inventory May 2008 http://www.roxanneardary.com/blog/real-estate-market-inventory-may08/ http://www.roxanneardary.com/blog/real-estate-market-inventory-may08/#comments Mon, 05 May 2008 13:09:04 +0000 Roxanne http://www.roxanneardary.com/blog/real-estate-market-inventory-may08/ The real estate market inventory firgures for each county within South Jersey are provided by Trend MLS as of this morning.  The inventory accumulation figures are based of the previous 12 month’s average sales divided into the current number of active listings.  The data provided is for residential listings only, and does not include commercial or multi-family sales data.  Data provided for Burlington County, Camden County, Gloucester County, Mercer County, and Salem County

Burlington County

Number of Listings:  4,183

Average number of sales per month:  380

Housing Inventory Accumulation:  11 months

Camden County

Number of Listings: 4,310

Average number of sales per month: 405

Housing Inventory Accumulation:   10 months

 

Gloucester County

Number of Listings: 2,452

Average number of sales per month:  227

Housing Inventory Accumulation:   10 months

 

Mercer County

Number of Listings: 2,695

Average number of sales per month:  274

Housing Inventory Accumulation:  9 months

 

Salem County

Number of Listings: 581

Average number of sales per month:  43

Housing Inventory Accumulation:  13 months

*Information deemed reliable but not guarenteed, subject to errors and omissions.
**Inventory Accumulation = The number of months it will take to sell the current housing inventory. (Current Inventory Units / Average Monthly Sales )

The April home sales data will be available in a few days.  Based on the preliminary figures however, we can expect another month of declined sales in the area compared to the April sales data for previous years. 

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