Iris Lurie's blog

Monmouth County Market Update - June 2015

Let's take a look at the real estate market in Monmouth County for the first half of 2015 compared to the same period last year for our three single-family home categories; detached, attached, and adult communities.  Homes in all categories are selling quickly . . . an average of 83 days for single-family detached, 78 days for single-family attached, and 64 days for homes in adult communities.

Single Family Detached Homes

  • New listings are up by 6.4%, and there is curently an 8.8 months supply of homes on the market.
  • Closed sales up 6.3%, with 2,308 closings for the first half of 2015.
  • The median sales price is nearly unchanged at $390,000.

Hot Ticket in Monmouth County This Weekend . . . The County Fair!

What are you doing this weekend?  Going to the Fair?

The Monmouth County Fair only happens once a year, and as far as we're concerned it's a no-miss local event.  There's a ton of fun for the kids with rides, fishing, pig races, and lots of unique entertainment.  Not only do the kids have a blast, but they get the opportunity to connect with animals up close and personal.  Of course there is plenty of fun and entertainment for the adults too. 

Get a complete Monmouth County Fair Booklet and schedule of events here.  

Enjoy the weekend!  Hope to see you there!

Marlboro Receives $825,000 Land Preservation Grant

Did you know that in the last 8 years the town of Marlboro preserved over 220 acres of open space?  And there is more to come . . .

Marlboro has been named the recipient of an $825,000 Green Acres matching grant for open space preservation from the Department of Environmental Protection, the Garden State Preservation Trust and the Planning Incentive Grant program.  

The money will be used to create and protect open space while limiting overdevelopment and sprawl, thus preserving the integrity of our lifestyle here in Marlboro.

This is good news!

Buying Your First Home? Why Waiting May Not Be A Good Idea

The Cost of Waiting to Purchase = The Additional Monies Needed to Purchase Given Increases in Prices and Interest Rates

What are economists predicting for the upcoming year?  And what does that mean in terms of the Cost of Waiting? Let's use an example to illustrate. 

Let’s say you’re in your early thirties and your dream house costs $225,000 today, and you make a $25,000 downpayment. Right now mortgage interest rates are around 4%. Your monthly mortgage payment (principal & interest) would be $954.83.

What if you decide not to buy now, but wait until next year to buy?  

Pacesetter Award Recipients Announced

We are proud to announce the recipients of the CENTURY 21 Pacesetter Award.  

Pacesetter Platinum recipients are Laurin LaLima and Carrie Moyer, who are both on track for the CENTURION® award as of June 30, 2015. 

Pacesetter Gold is awarded to Sales Associates on track for the Masters Award program as of June 30, 2015. The Pacesetter Gold recipients are Alan Katz, Frank Fortino, Lori Ragovin and Sheryl Kerner.  Pacesetter Gold Team recipients are the Andrea & Harry Mesh Team and the Cole Gold Team.