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2TAB COURIER-POST, Friday, October 24, 2014

real estate

By Ann Cutry

A Healthy Housing Market in The Shade Mixed inventory suits many of buyer’s needs

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s of September 30, 123 housing units were on the market in Maple Shade; 30 condos, starting at $70,000 up to $139,000 and the balance of properties are single-family homes priced from $64,900 to $349,900. So with that inventory, there are plenty of properties to choose from depending on your budget and your needs; whether you are willing to do some work to get the home the way you want it or you prefer a move-in-ready property, the choices are available in Maple Shade. During the same period of time, 21 properties went under contract including 4 condos and 15 single-family homes sold, prices ranging from $71,000 up to $265,000; 3 condos sold, prices ranging from $ 67,000 up to $82,000.

Some of the properties presently for sale are Bank Owned, some are Short Sale but most of the properties are privately owned. If you are in the market for a home, make sure that you know what the ownership is. A Bank Owned property is sold “AS IS,� banks are very rarely going to do any repairs, and utilities are off in most cases. A property that is categorized as a “Short Sale� means the Seller is still the owner of the property, but Buyers have to negotiate sale price with the financial institution that is holding the mortgage. This can be a rather lengthy process, and the biggest drawback for the Buyer is that one never knows when closing will take place.

The back side of Bank Owned (REO) and Short Sale properties is that these sale prices effect the price of the regular market, as these homes are often sold for a lower price and an appraiser would have to take them into consideration when another property in the neighborhood is being sold on the regular market. Of course, an appraiser has to consider the condition of these properties. This is one of the reasons that we have not seen a higher increase in the housing market.

Anne Cutry has been owner of Prudential McHugh Realty Inc. since 1992 and Broker of record since 1996.

ABOUT MY MAPLE SHADE My Maple Shade is a bi-monthy product of the Courier-Post and is produced by the Advertising department. For advertising information, call My Maple Shade Sales Executive, Kathy Felix at (856) 979-1947 or kfelix@ gannett.com. To submit editorial, including upcoming events or story suggestions for consideration, contact Mary Price, at (856) 486-2920 or mcprice@courierpostonline com. To view My Maple Shade online, go to courierpostonline.com and click on the homepage tile SPECIAL SECTIONS. The Courier-Post, 301 Cuthbert Blvd., Cherry Hill, New Jersey, 08002; (856) 663-6000. Clarification: A photograph of Township Manager Jack Layne that appeared on page 3 in My Maple Shade on October 10, was not credited. It was taken by a Central Record staff photographer.

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