Real Estate Market Trends in Toms River
According to the latest Zillow Real Estate Market Reports, home values in Toms River decreased -8.02% in the third quarter of 2008, compared to the third quarter of 2007. Nationally, home values decreased -9.7% during this same period. (from www.Zillow.com)
At first glance that looks like bad news, but considering that many areas have dropped 1%/month for the past 12+ months, that is great news. if you grab a calculator and do the math, That 1.68% difference is almost 21%. So Toms River, NJ is doing 21% better than the average of the country.
A big piece of this is that the foreclosure stats are much lower in Ocean County than they are in the rest of the country as well, While there are more foreclosures than any of us are accustomed to, there are far fewer here than other parts of the country
Have a great week!
Rob
(732)223-1630 x102
Real Estate Mortgage Network
I just saw this tid-bit and thought it would interest you.
That is interesting Rob...it's not the gloom and doom I hear many talking about!
Rob,
Did you read the article in the Business Section of Sunday's Press which referenced this survey? They quoted some "behaviorist" who attributes the "denial" of today's Seller to "uniquism"; that we each feel we are better than everyone else, therefor, our homes are better than everyone else's!
I did not see that article, But it makes sense! How many times have you heard someone say "my house is worth more, my grass is greener!"