January 20th, 2021
Title Wise
The New Jersey Real Estate News You Can Use
Greetings!

Activity continues and inventory and mortgage rates are still both at record low levels. What should we be expecting? Don't expect, simply move forward and keep your customers as close as you can. The market is still strong but demand is simply not going to stay this way forever. Just keep ready and prepared for anything, and nothing.

Whatever the final outcome of this economic and health pandemic, watchfulness is definitely called for.

Please feel free to email me at ralph@counsellorstitle.com if you have any questions or would like to follow up on any of this edition's articles.

Ralph Aponte
732.914.1400
What to Expect in 2021

Who would have guessed that the real estate market would appreciate in some cases by 25% year-over-year, especially during a pandemic?

And yet, that’s exactly what took place in 2020. So should we expect the same market trajectory in 2021? Using the same guidance for 2020, probably we could expect another series of disparate shifts within the market without a lot of logic behind it.

So moving forward, here are some fundamentals:

■ Inventory continues to bottom out at historic low levels.
■ Interest rates will continue the flat line between 2.8% and 3.4% for the next 12 months for a fixed 30-year home mortgage.
■ The economy will continue to recover but slowly, adjusting for fewer service positions since restaurants and hospitality businesses will continue to struggle.
■ Construction of new homes will continue at the same level but because of constrictions of skilled labor and increased prices for building materials, the number of homes built will be measured, to say the least.
■ Evictions will continue to overhang certain sectors of the real estate market as 30 to 40 million Americans are reported to be at risk of eviction, based upon the Aspen Institute report.
■ Demand for new homes in the 4th quarter has been, for many builders, at a record pace. Toll Brothers reported for the most recent quarter a record number of signed home contracts, the most in the company’s 53-year history. 
■ Even though housing prices in California have been increasing over the last 12 months, other states are starting to take over for price appreciation as migration from places like California, New York and even Chicago bring new buyers in two places like Reno, Nevada, and states like Texas and Florida.
■ In addition, cost of living factors are also driving people from places like the Northeast and Southern California to lower price markets such as Florida, Texas and North Carolina.
■ According to a report by Toll Brothers, places like Jersey City, Hoboken, Manhattan and Brooklyn are seeing a slowdown.
The number of homes sold in Monmouth County jumped to 1,130 or 51.9% over 2019 results.

The Median Sales Price for homes sold in Monmouth County climbed to $485,000, a 25% increase over 2019.

The Median Days on Market fell to 26 days, a decrease of 50% from 2019 levels.
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Rental Income Planner in Excel Spreadsheet

A.S.A.P. Attorney Settlement Assistance Program
Our real estate secretarial services are able to assist you in every aspect of the sale, purchase, refinance or loan closing process. We will directly communicate with all the parties involved in the transaction and coordinate and obtain all the items necessary to bring the matter to closing.

Our ASAP services can be individually customized to fit your needs. These services include:
  • Documentation Preparation
  • Disbursement of Funds
  • Attendance at Closing
  • HUD Preparation or
  • Post-Closing Matters
Our Commitment to Excellence
Counsellors Title Agency wants to thank you for the opportunity to work with you and your clients to grow your business. Please feel free to click the link above or here to leave us a review on Google. We appreciate your business.
Careers @ Counsellors
Sales: Leading NJ title insurance agency seeks experienced licensed salespersons to help expand its market share throughout the entire state. Benefits include health insurance, 401k with an employer match, flexible spending account, expense account, & marketing support. Send resumes by fax: 732-914-8898 or ralph@counsellorstitle.com
Free Online Title Insurance Calculator
Counsellors Title Agency announced its updated Title Calculator for New Jersey home purchases & refinances at: Title Calculator

Loan officers, real estate agents and home buyers can find out how much title insurance will cost for purchases made in New Jersey.

Easy-To-Use Functionality
This online tool includes many of the endorsements involved in calculating the cost of a title policy in New Jersey. CTA's Title Calculator is a great tool for real estate salespersons, loan officers, attorneys and those who are buying or refinancing their home.

It calculates the cost of title insurance based upon the purchase price of the home, the loan amount, and the various endorsements that can accompany the loan. The calculator provides the user the scalability of selecting the various endorsements involved in the transaction.
Handy Guide to Real Estate Sources
Here are some of the most widely used governmental websites for the real estate industry.


I look forward to being of service to you, providing you with outstanding real-time information and some humor to make doing business a pleasure.

Sincerely,
Ralph
Ralph Aponte
Counsellors Title
Counsellors Title Agency, Inc. specializes in providing title insurance, title search services and loan closing services serving attorneys, Realtors, banks and various mortgage companies throughout the State of New Jersey. CTA offers full search and insurance capabilities within all 21 counties of New Jersey for commercial, residential and new construction purchases in our Toms River, Freehold, Chatham, and Union locations.
CTA is equipped with the latest digital technologies to ensure a complete and timely transaction.
Mr. Ralph Aponte

Our Office: 504 Hooper Avenue,
Toms River, NJ 08753
Phone Number: (732) 914-1400
Fax: 732-914-8898

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