ARTHUR KIAMIE's REAL ESTATE

MARKET REPORT

for JULY, 2008

Thank you for visiting our web-site! I hope it will be of value to you as you pursue your real estate interests. Below, I will explore the seller's and buyers situations in this market. If this stimulates your interest in some way, my objective will have been achieved.

At this time, buyers are in the driver's seat. However, Sellers have options, too. Once the economy improves enough for the current inventory to be bought-up, prices will increase again! Within the larger context of the world economy, with demand for oil increasing in an unprecedented way, no one can project when the recovery will occur. Nevertheless, the rule of supply and demand will continue to be a reality. This is evident by reduced home values at the present time. Supply and demand increases in power and influence when the market is in a state of change. Sellers are more motivated when prices are increasing, rather than when they are decreasing.

President Truman's classic comment that "the only new things are history we don't know." Consider how the real estate market declined and then rebounded back in the late 80'ss and early 90's. Yes, 20% increases in prices occurred in just one year! So, this down market is a time for buyers to be decisive. I suggest buying now while prices are deflated! Waiting for prices to bottom-out. That may sound good, but that may have already happened. Interest rates are very low at this time. 5-6% range is low. Remember when rate were 16-18% in the early 80's. Are you willing to wait until the market rebounds and hope to find the right home from amongst fewer listings? Are you willing to risk losing the current low mortgage rates? The decision, of course, is entirely yours. But, these comments should prompt some discussion, don't you agree?

SELLERS:

Yes, the market value of homes has decreased. There was a televised report on June 22, 2008 stating that home prices nationally had dropped 14-15% between April, 2007 - April 2008! Locally, we have not seen that degree of impact, but the real estate market is quiet. Buyers are apprehensive because of the economic situation, not the prices. If you are re-investing in another property, a successful transition from current to new home can be achieved.

Prepare the house for the sale. The competition for qualified buyers is great. Speak to one of our Realtors for sound advice. Full "staging" of the home is not necessary, but certainly a few repairs might help, if needed.

RETIREES CORNER:Jersey Shore waterfront homes have been hit even harder!  There is a lot of inventory from which to choose! We have shore homes available to you by e-mail or a visit to our office. If you are interested in a shore property for retirement or second home purposes, now is the time to act.

Heading to the sun-belt? We are told that Florida prices are seriously declining. Make the move with confidence. Do the research. We can help. It is our business to assist you in your search. We will refer you to a specific Realtor in Florida or other sun-belt state at no cost to you.

ABOUT KIAMIE AGENCY, INC. LICENSED REAL ESTATE BROKERS:Since the mid-1970's, we have been proud to be the "local broker" having listings throughout the central and shore areas of New Jersey. We know property values. And, we give the owner an opportunity to ask the price desired, even if their asking price is above the market! Once a home is sold, it is sold (said Yogi)! The market will respond with offers. If not, a more realistic asking price might be necessary. As your broker, we would be working with you and for you every step of the way.

Call us. We will provide a Complimentary Market Analysis, and advise you of other properties that are also for sale. All Kiamie Realtors are under the direct supervision of the owners. We take pride in our work and in representing our buyers and sellers. We may have worked with your parents (maybe your grandparents!), and we want to work with you. You can depend upon us.

MORTGAGES: Kiamie Agency, Inc does not provide mortgages. But, financing is available, with low down payments to qualified buyers. Lenders are in the business of making loans. "Silly" loans are out and "sensible" loan standards are again in place. We can refer you to several reputable lenders once you call upon us. We do not expect or accept a penny from any lender for referring our clients to them. We do expect a fully professional handling of your mortgage application. Let us help you make the move pleasant, and easy.

Thank You,

Arthur A. Kiamie, President

Kiamie Agency, Inc., Licensed Real Estate Brokers. 908-276-2400