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Andrew J. Lenza's Blog

By Andrew J. Lenza | Broker in Colts Neck, NJ
  • Short Sales for Middletown NJ 07748 Houses for Sale

    Posted Under: Home Buying, Home Selling, Foreclosure  |  March 26, 2011 3:01 PM  |  1,469 views  |  No comments

    After researching short sales for Middletown NJ 07748 houses for sale for the past fourteen months, I was surprised to learn the effect of a downward real estate market has had on recent values.middletown nj 07748 short sale data mls

    There is no indicator field in the Monmouth Ocean County Multiple Listing Service (MLS) to flag an actual short sale. In our market Realtors indicate a short sale status in the Public Remarks or Agent Notes.

    • Of the twenty seven (27) closings the average Days-on-Market was 129 days.  Meaning from list date until the deal went "under contract," there was an average processing time of 129 days.
    • Of course, from Under Contract to Settlement took additional time.  Those 27 short sale closings only accounted for 5% of the 530 sales in that period.  Conversely, 95% of the Middletown sales for the last 14 months were NON-short sale.

    No, the Middletown real estate market is not characterized by a surplus of short sale single family homes in zipcode 07748.

    Andrew J. Lenza, ABR GRI MBA

    Broker Sales Associate, Coldwell Banker Residential Brokerage

 
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