My office is just around the corner form you in Shrewsbury on Shrewsbury Avenue right near Sycamore. I can throw a rock from my office (in Shrewsbury) and hit Tinton Falls, since the middle of our street divides the towns. I certainly understand the configuration of Tinton falls running narrow East to West, but from North to South it spans length covering exits 100-109 from the GSP.
You closed in March of 2007. At the time, inventory levels were very high. January, 2007 started out strong, but Tinton falls went into a slow spring for 2007. When I look at 2007 numbers compared to 2006 for the closings during June, July and August, there was a noticeable slow down for 2007. Closings that take place during these summer months reflect contract activity from the spring and early summer. There were 42 closings during those summer months of 2006, compared to 2007 which brought us only 23 closings.
Good newsâ€¦..September 2007 reports 10 closings compared to only 5 in 2006. October held steady at 8 closings each year, and November shows us down only 2. It looks like the year will finish with a drop in volume, but promising signs going into 2008. There are 10 properties currently under contract, and quite a few of those just went into contract. Thatâ€™s great activity for right now.
You bought well and have a great home in a great location. If I were you, I would feel good about your purchase. Your current value is probably close within the same range as when you purchased. An exact sale price would be set by a buyer, of course. 2007 represents a slow down in activity from 2006, with some price suppression. Your savvy purchase and great location are both in your favor.