Happy March 2025 Everyone! The weather and real estate market is always changing.

Hope all is well you beautiful people. You made it to March 2025! Congrats! 🙂 What a year so far!

Is the snow done falling now for us in South Jersey? It is early March now and spring training for the Phillies is in full bloom. And, against all the bookmakers odds, and dedicated Taylor Swift fans, the determined and focused Philadelphia Eagles are Superbowl champs. I still see many homes lite up with green lights driving around at night time in our area. Did you see the 76ers are selling now (not a typo) $2.00 NBA home game admission tickets with what looks like a lost season with Joel Embid out injured again for the rest of the year. NBA ticket prices in 1970 year, for a regular 76ers game according to Google were $6.00 a ticket! On a positive note for the Sixers, they just won last night and beat the SF Warriors on ESPN, after the Sixers losing 9 games in a row, with a packed house in Philly, that fans got bargain low ticket prices. It has been a crazy last 2 months for many in so many ways!

The South Jersey real estate market is slowly seeing a much anticipated increase in listing inventory and this is welcomed with so many quality buyers waiting to buy the right home. Interest rates have been holding steady between 6.5 to 7 percent and actually lower rates prevail with
FHA financing now. I see many buyers starting to dig in and get serious and focus now, realizing that maybe the rates may not come down so fast and waiting is not an option now as prices are still rising in most market segments. Days on the market is still averaging in Atlantic, Cape May, Cumberland, and Ocean Counties between 37 to 50 days on the market, so it is still a good sellers market.

I have to tell you be careful. Be extremely careful when you go to closing-settlement and always double check on the deed and other paperwork that the correct lot and block number is being recorded exactly as it should be and right legal description of the land involved is conveyed properly to the T.

I just went through a 4 month long waiting period closing, where I represented the patient buyers who were buying a vacant renovated home in Atco, NJ and the neighbors next door refinanced their home, and when they did, the title company they used made a mistake on the recording of the legal description and took over 1.25 acres and away of the home I had under contract was trying to sell. Bottom line is, it was not an easy fix, I had to deal with 4 different attorneys in 3 different states, 2 title companies, and finally deal with the FHA-Federal Housing Administration, with whom the neighbors refinanced with a FHA government backed loan to finally get it straighten out with a new recorded release. It cost the seller of the vacant home money, not only because of the delays, but because the interest rate went up twice during the wait, and the seller paid the difference to keep my buyers from walking away from the deal. It was not even the sellers fault, it was the neighbors title company they used that caused the error. So be VERY careful, and always take the time at closing to check for typos on lot and block numbers and make sure legal descriptions are correct to get your full value of your land involved.

Our HomeSmart NJ offices now total 13 offices, with our newest office in Vineland, NJ, and we have two existing HomeSmart offices that our owner has become a partner in Philadelphia to help increase referrals from Philly down to the NJ shore area. We also have a national relocation company too, which I had the pleasure of selling a home in Mays Landing last year with their assistance.

Have a great month of March! Need any help in your real estate needs please give me a call at 609-338-1339 cell Thanks! Gary.