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Post by admin on May 7, 2008 6:16:56 GMT -5
We often discuss the housing market here and wonder if we are worse of than others. In another thread new participant shorty wrote:
what a town-
try selling a home here..... forget it !
Well, here are the facts, straight from a Realtor who lives in town....
In a comparison of home sold in area towns...
Freehold Borough-down 22 percent
Freehold Township- down 06 percent
Howell- down 22 percent
Manalapan- down 13 percent
Marlboro-down 19 percent
Monmouth County- down 22 percent.
There are ten homes under contract at the time of the information I received. Mortgage applications were up 48 percent.
Sales in the North east part of our nation were actually up 2.9 percent
When looking at the stats above, I see that we are no worse off than some of our neighbors and we are on par with Monmouth County as a whole. The township appears to be doing very well considering the market.
I see the above as good news because we are not as bad as some might make us out to be.
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Post by fiberisgoodforyou on May 7, 2008 6:50:51 GMT -5
Other interesting stats would be, how long do homes stay on the market, and how much had these homes been discounted, and what is the mean selling price for a three bedroom home (average)? These are important factors as well. We all see homes with for sales signs for one-two years around here, and the homes that move quickly, are drastically reduced for quick sales. We often discuss the housing market here and wonder if we are worse of than others. In another thread new participant shorty wrote: what a town-
try selling a home here..... forget it ! Well, here are the facts, straight from a Realtor who lives in town.... In a comparison of home sold in area towns... Freehold Borough- down 22 percentFreehold Township- down 06 percent Howell- down 22 percentManalapan- down 13 percent Marlboro-down 19 percent Monmouth County- down 22 percent. There are ten homes under contract at the time of the information I received. Mortgage applications were up 48 percent. Sales in the North east part of our nation were actually up 2.9 percent When looking at the stats above, I see that we are no worse off than some of our neighbors and we are on par with Monmouth County as a whole. The township appears to be doing very well considering the market. I see the above as good news because we are not as bad as some might make us out to be. |
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Post by admin on May 7, 2008 15:37:44 GMT -5
Fiber wrote:
Other interesting stats would be, how long do homes stay on the market, and how much had these homes been discounted, and what is the mean selling price for a three bedroom home (average)? These are important factors as well. We all see homes with for sales signs for one-two years around here, and the homes that move quickly, are drastically reduced for quick sales.
All good questions Fiber. I know in general DOM and sale prices have not been favorable all around.
What I liked about the stats I provided is the comparison to other towns around here. I feel that gives a better picture of not only the market, but the borough. From those stats, I do not think our town is bad off. We appear on par with many others.
I would love to see a comparison of the local areas based on the questions you ask. That, too, would say a lot.
As far as the home prices I saw, there was a decline in price which is reflective of the market. Out of the houses I was familiar with, the drop did not seam to be any worse than other places. Without a comparison, it is hard to really say.
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Post by fiberisgoodforyou on May 7, 2008 16:03:42 GMT -5
Brian, Your stats do not tell the whole story, the FEW homes I know that sold, were drastically discounted. These were homes that were vacated months before they were finaly sold. Rather than anecdotal placating statistics, lets here from home sellers and home buyers. I know a few couples and young families that have moved into the Borough over the last two years, as well as families who have moved out, and families who want to leave that have yet to sell. Only they can speak to they're motivations, not statistics. Look at how statistics reflect on our schools yet you had attended the Citizens academy. What speaks better for our schools, statistics or the parents and children? Lets open this discussion up beyond personal interpretations of statistics and ask the folks who have moved in here over the last TWO years, why did you move to Freehold Borough..., and to the folks who have their homes on the market, or who had recently moved out over the last two years..., why are you moving from Freehold Borough? This is fair..... Fiber wrote:
Other interesting stats would be, how long do homes stay on the market, and how much had these homes been discounted, and what is the mean selling price for a three bedroom home (average)? These are important factors as well. We all see homes with for sales signs for one-two years around here, and the homes that move quickly, are drastically reduced for quick sales.All good questions Fiber. I know in general DOM and sale prices have not been favorable all around. What I liked about the stats I provided is the comparison to other towns around here. I feel that gives a better picture of not only the market, but the borough. From those stats, I do not think our town is bad off. We appear on par with many others. I would love to see a comparison of the local areas based on the questions you ask. That, too, would say a lot. As far as the home prices I saw, there was a decline in price which is reflective of the market. Out of the houses I was familiar with, the drop did not seam to be any worse than other places. Without a comparison, it is hard to really say. |
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Post by fiberisgoodforyou on May 7, 2008 16:18:25 GMT -5
Out of the houses I was familiar with, the drop did not seam to be any worse than other places.
Without a comparison, it is hard to really say. [/color][/size] Brian, Yogi Berra must have longed on as you...  |
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Post by admin on May 7, 2008 16:49:17 GMT -5
Brian, Your stats do not tell the whole story, the FEW homes I know that sold, were drastically discounted. These were homes that were vacated months before they were finally sold.
I already agreed with you on the need for more facts. There will be no further need for you to repeat it again.
Rather than anecdotal placating statistics, lets here from home sellers and home buyers. I know a few couples and young families that have moved into the Borough over the last two years, as well as families who have moved out, and families who want to leave that have yet to sell.
We do hear from home sellers and buyers. Much of this topic has centered around that aspect of the discussion on this site. I am not discounting or negating the views that people have. That is the purpose of this site, hence the name Freehold Voice. Even the comment I quoted from shorty was one we have heard many times from many people. It was simply a good jumping point for this topic.
I also do not put blind faith in any studies, stats, or polls. They are only a piece of the puzzle when exploring any topic. The whole purpose of this thread was to offer a different take on a subject we have discussed many times. We rarely come across comparison stats and I feel it was well worth posting for another view. It is a piece of the pie if we want a truthful view on the subject of home sales in the borough.
Only they can speak to they're motivations, not statistics.
Look at how statistics reflect on our schools yet you had attended the Citizens academy. What speaks better for our schools, statistics or the parents and children?
Lets open this discussion up beyond personal interpretations of statistics and ask the folks who have moved in here over the last TWO years, why did you move to Freehold Borough..., and to the folks who have their homes on the market, or who had recently moved out over the last two years..., why are you moving from Freehold Borough?
This is fair.....
On the subject of motivations, I again agree with you. I have discussed this topic with Lisa and we both agree it would be good and interesting to get a survey together and ask people why they are leaving as well as why they are buying. To do so in an unbiased way, without agenda attached could be very enlightening. It could prove to be what many suspect or we may see something else all together.
You speak of schools and stats vs parents. Again, it is all a part of the picture. The parents are great to talk to, but face facts they have a bias and a vested interest. They will look at the schools with certain eyes. That is valuable, but it has to be looked at for what it is. Same thing with stats, they are only a part of the picture and have to be looked at with honesty.
Fiber, you mention " this is only fair" and I agree with you. I posted these stats a piece of the puzzle. I thought they were interesting. You can love them or hate them, that is up to you.
I am not discounting the views people have. I am well aware of the frustration tha many people have in our town. You should not be so quick to tear apart some simple stats. Are you so against some good news for our town? The stats are what they are. Just like a statement that says we can't sell homes in the borough.
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Post by admin on May 7, 2008 16:54:20 GMT -5
Out of the houses I was familiar with, the drop did not seam to be any worse than other places.
Without a comparison, it is hard to really say. [/color][/size] Brian, Yogi Berra must have longed on as you... [/quote] Read the post again, Fiber. You missed a very important key word-- seam. I appologize if it was not clear enough for you, but I consider that an indication that I was making a guess. My follow up statement indicated that there was a need for stats, not what seams to be. |
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Post by fiberisgoodforyou on May 7, 2008 17:40:32 GMT -5
Just like a statement that says we can't sell homes in the borough.
What???  Great, Thanks for the follow up! |
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Post by fiberisgoodforyou on May 7, 2008 17:55:28 GMT -5
I am not discounting the views people have. I am well aware of the frustration tha many people have in our town. You should not be so quick to tear apart some simple stats. Are you so against some good news for our town? The stats are what they are. Just like a statement that says we can't sell homes in the borough. Great, Thanks for the follow up! According to George Bush's stats the economy is in a recovery (if your in the oil business) |
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Post by fiberisgoodforyou on May 7, 2008 18:01:42 GMT -5
IMO the Borough Housing market should be BOOMING!!!! Where else can you find a COMMUTERS dream house 3 plus bedrooms 400-500K with a great HS, Parochial School and an improving Public School "Moderate" property tax...and an eclectic evolving walk too downtown plus a hand full of great open spaces like veterans park, also a close by mall, beaches NYC and Philly and 6 Flags... We can be one of the best real estate values in Central Jersey, anyone disagree? So whats the problem? |
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Post by novillero on May 7, 2008 19:10:21 GMT -5
IMO the Borough Housing market should be BOOMING!!!! Where else can you find a COMMUTERS dream house 3 plus bedrooms 400-500K with a great HS, Parochial School and an improving Public School "Moderate" property tax...and an eclectic evolving walk too downtown plus a hand full of great open spaces like veterans park, also a close by mall, beaches NYC and Philly and 6 Flags... We can be one of the best real estate values in Central Jersey, anyone disagree? So whats the problem? Can anyone disagree??? yes. Talk to someone who doesn't live in the boro. Post something about the boro on city-data.com and see what response you get... or just search Freehold on that forum, and the words "Freehold Borough" is most often next the word "avoid." |
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ka19
Junior Member
Posts: 356
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Post by ka19 on May 7, 2008 23:23:22 GMT -5
IMO the Borough Housing market should be BOOMING!!!! Where else can you find a COMMUTERS dream house 3 plus bedrooms 400-500K with a great HS, Parochial School and an improving Public School "Moderate" property tax...and an eclectic evolving walk too downtown plus a hand full of great open spaces like veterans park, also a close by mall, beaches NYC and Philly and 6 Flags... We can be one of the best real estate values in Central Jersey, anyone disagree? So whats the problem? Good, but you left out history and convenient location to shopping and entertainment! I had my father-in-law over the other day (he lives in Cherry Hill), and he was raving about our digs. He was shocked when I told him about the local perception. |
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Post by novillero on May 8, 2008 9:17:05 GMT -5
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bergsteiger
Full Member
War is simple, direct, and ruthless
Posts: 1,189
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Post by bergsteiger on May 8, 2008 10:27:31 GMT -5
IMO the Borough Housing market should be BOOMING!!!! Where else can you find a COMMUTERS dream house 3 plus bedrooms 400-500K with a great HS, Parochial School and an improving Public School "Moderate" property tax...and an eclectic evolving walk too downtown plus a hand full of great open spaces like veterans park, also a close by mall, beaches NYC and Philly and 6 Flags... We can be one of the best real estate values in Central Jersey, anyone disagree? So whats the problem? Illegal Aliens |
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Post by novillero on May 9, 2008 8:55:23 GMT -5
IMO the Borough Housing market should be BOOMING!!!! Where else can you find a COMMUTERS dream house 3 plus bedrooms 400-500K with a great HS, Parochial School and an improving Public School "Moderate" property tax...and an eclectic evolving walk too downtown plus a hand full of great open spaces like veterans park, also a close by mall, beaches NYC and Philly and 6 Flags... We can be one of the best real estate values in Central Jersey, anyone disagree? So whats the problem? Illegal Aliens I guess that is a good answer if you are looking for the obvious response. |
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bergsteiger
Full Member
War is simple, direct, and ruthless
Posts: 1,189
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Post by bergsteiger on May 9, 2008 9:34:03 GMT -5
I guess that is a good answer if you are looking for the obvious response. That's what most people say. That's how I feel. Sad but true. |
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Post by admin on May 9, 2008 16:21:19 GMT -5
IMO the Borough Housing market should be BOOMING!!!! Where else can you find a COMMUTERS dream house 3 plus bedrooms 400-500K with a great HS, Parochial School and an improving Public School "Moderate" property tax...and an eclectic evolving walk too downtown plus a hand full of great open spaces like veterans park, also a close by mall, beaches NYC and Philly and 6 Flags... We can be one of the best real estate values in Central Jersey, anyone disagree? So whats the problem? Unfortunately the borough housing market will not be any better than the overall market which is stinky. That is why I liked the stats I posted, we are on par with many others. I am curious as to why the township is doing so well when compared to others. The dip we see in the market was predictable and will not last forever. That said, the quoted post is a good reflection that our town is one with a great deal of potential. This certainly is not a bad town, but we could do better. When the market gets better, we need to be ahead of the game and ensure this is a more attractive town to be in. With Asbury Park doing well after what that town had become, and Red bank being what it is, there is no good reason that FB should not have that kind of hope. |
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Post by nikcap on May 20, 2008 9:32:17 GMT -5
IMO the Borough Housing market should be BOOMING!!!! Where else can you find a COMMUTERS dream house 3 plus bedrooms 400-500K with a great HS, Parochial School and an improving Public School "Moderate" property tax...and an eclectic evolving walk too downtown plus a hand full of great open spaces like veterans park, also a close by mall, beaches NYC and Philly and 6 Flags... We can be one of the best real estate values in Central Jersey, anyone disagree? So whats the problem? These are the exact reasons we moved the the Borough last year. Can anyone disagree??? yes. Talk to someone who doesn't live in the boro. Post something about the boro on city-data.com and see what response you get... or just search Freehold on that forum, and the words "Freehold Borough" is most often next the word "avoid." And these are the exact people that do not appreciate the charm of an older town. I'd expect that exact response. We researched other towns similar towns from Bound Brook to Hightstown. All had the same criticisms as Freehold Borough. As the new home market in Monmouth county dries up, the IA's will flee to greener pastures. My daily walk to the bus station suggest that this might already be happening. |
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Post by richardkelsey on May 20, 2008 10:13:04 GMT -5
Nikcap:
Nice post --- solid points. Nice to welcome to the site someone who sees the glass as half-full. (I'm a bit of a half empty guy myself -- but I do appreciate the optimism.)
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Post by quidproquo on May 20, 2008 10:39:15 GMT -5
As the new home market in Monmouth county dries up, the IA's will flee to greener pastures.
Nikcap;
Care to wager your home on your greener pastures theory?
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Post by nikcap on May 20, 2008 11:19:43 GMT -5
As the new home market in Monmouth county dries up, the IA's will flee to greener pastures. Nikcap; Care to wager your home on your greener pastures theory? It's a double edge sword. In reality, we don't want IA's finding greener pastures, but by the same token, we don't want then sucking our resources and reaping our benefits without properly contributing. |
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Post by novillero on May 20, 2008 12:46:34 GMT -5
In reality, we don't want IA's finding greener pastures... Please elaborate on this part of your post. |
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Post by nikcap on May 21, 2008 10:43:31 GMT -5
In reality, we don't want IA's finding greener pastures... Please elaborate on this part of your post. OK, first, understand that I can play both sides of the fence here. I'm not a troll, but I'm aware that this topic is complex, and people that take hard stands on either side are often call some fairly harsh names. This article is some good food for thought. The question I would ask, I was are the IA here? I'm sure it not for the weather. I'm sure they're all not waiting for Kruise Night. I suspect that don't really dig hangout on Throckmorton. So why are they here? Anyway. Back to the original post. The realestate market is in shambles right not. Very little new inventory in come onto the market and the prices are settling down to a more realistic number. At least when you plot it out over a 10-15 trend. The numbers posted by Brian are almost exactly what I expected to see. |
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