Greater Princeton Area Market Data May 21 10

According to first quarter data from the National

Association of Realtors, the number of metropolitan

areas where median prices are rising grew for the

fourth consecutive time.

Market Confidence Meter

Home Loan Rates Decline to Lowest Level in the YearSaturday, May 15, 2010, By Property Management SoftwareHome Loan Rates for Real Estate Property

Interest rates on mortgages have decreased for the last five weeks and now the 30 year fixed rate loan is below 5 percent to the lowest level in the year.

Freddie Mac announced that the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week down from last week when it averaged 5.00 percent. Last year at this time, the 30-year FRM averaged 4.86 percent. The 30-year FRM has not been lower since the week ending December 10, 2009, when it averaged 4.81 percent.

http://www.trexglobal.com/property-management/property-management-glossary/interest

The 15-year FRM averaged 4.30 percent with an average 0.6 point, down from last week when it averaged 4.36 percent. A year ago at this time, the 15-year FRM averaged 4.52 percent. The 15-year FRM has not been lower since the week ending December 3, 2009 when it averaged 4.27 percent.

The Freddie Mac survey assumes that borrowers have good credit and make a down payment of at least 20 percent or have an equivalent amount of equity

5/18/10Towns Active

ListingsPending in Last 30 Days

Absorption Rate in Months

New Listings in 30 Days

Net Gain (Loss) to Market

Listings Reduced in 30 Days

% of Invent. Reduced

Expired Listings

W/drawn Listings

Closed Listings

Princeton Boro: All Styles 58 5 11.6 15 9 9 15.5% 0 1 2

Pton -Boro Condo/ Thouses 20 3 6.7 5 1 3 15% 0 1 0

Pton-BoroSingle Family 38 2 19 10 8 6 15.8% 0 0 2

Pton Twp: All Styles 137 15 9.1 37 12 29 21.2% 3 7 10

Pton Twp: Condo/ Thouses 11 2 5.5 2 -3 1 9.1% 0 3 2

Pton Twp:Single Family 126 13 9.7 35 15 28 22.2% 3 4 8

5/18/10Towns Active







Expired Listings

W/drawn Listings

Closed Listings

West Windsor: All Styles

152 38 4 49 2 49 32.2% 4 5 18

West Windsor Condo/ T.Houses

32 6 5.3 9 -1 9 28.1% 1 3 5

West Windsor55+

13 5 2.6 2 -4 -- -- 1 0 0

West Windsor Single Family

107 27 3.9 38 7 40 37.4% 2 2 13

Lawrence: All Styles 243 26 9.3 50 9 78 32.1% 8 7 26Lawrence:Condo/THouses

66 16 4.1 17 -5 36 54.5% 4 2 10

Lawrence: 55+ 23 1 23 2 -1 -- -- 0 2 3

Lawrence: Single Family

154 9 17.1 31 15 42 27/3% 4 3 13

5/18/10Towns Active







Expired Listings

W/drawn Listings

Closed Listings

PlainsboroAll Styles 65 22 2.9 16 (6) 13 20% 6 0 17PlainsboroCondo/ THouses

35 10 3.5 11 1 9 26% 5 0 13

Plainsboro55+ 10 1 10 0 (1) 2 20% 1 0 2

PlainsboroSingle Family

20 11 1.8 5 (7) 2 10% 0 0 2

Cranbury:All Styles 27 6 4.5 7 1 7 26% 0 0 1

Cranbury:55+ 2 0 2 1 1 1 50% 0 0 1

Cranbury: Single Family

25 6 4.1 6 0 6 24% 0 0 0

5/18/10Towns Active







Expired Listings

W/drawn Listings

Closed Listings

MontgomeryAll Styles 158 35 4.5 52 27 45 28% 3 4 18

MontgomeryCondo/Twnhms 23 11 2 10 2 6 26% 0 3 5

Single Family 135 24 5.6 42 25 39 29% 3 1 13

HillsboroughAll Styles 223 39 5.7 69 22 49 22% 10 12 25

HillsboroughCondo/Twnhms 84 19 4.4 29 11 14 17% 5 5 8

HillsboroughSingle Family 139 20 7 40 11 35 25% 5 7 17

5/18/10Towns Active







Expired Listings

W/drawn Listings

Closed Listings

Ewing: All Styles 263 25 10.5 60 21 81 30.8% 6 8 20Ewing : Condo/ T.Houses

39 4 9.8 11 3 15 38.5% 1 3 6

Ewing 55+: 7 0 99 1 1 -- -- 0 0 0Ewing:Single Family

217 21 10.3 48 17 66 30.4% 5 5 14

East Windsor:All Styles

192 24 8 41 3 37 19.3% 7 7 12

East Windsor:Condo/ THouses

107 10 10.7 23 3 20 19.7% 4 6 3

East Windsor:55+

22 1 22 2 -1 -- -- 1 1 0

East Windsor: Single Family

63 13 4.8 16 1 17 27% 2 0 9

5/18/10Towns Active







Expired Listings

W/drawn Listings

Closed Listings

Hopewell Twp.All Styles

198 27 7 60 33 36 18% 10 10 13

Hopewell Twp. Condo/ T.Houses

16 8 2 6 (2) 7 44% 1 1 2

Hopewell Twp.:55+

11 0 999 - - - -- - - -

Hopewell Twp Single Family 171 19 9 54 35 29 17% 9 9 11

Hamilton: All Styles 584 98 6 127 29 173 30% 38 18 80Hamilton:Condo/ THouses 109 28 4 24 (4) 37 34% 8 4 20Hamilton:Single Family 434 68 6 103 35 136 31% 30 14 60Hamilton: 55+ 40 2 20 - - - - - -

5/18/10Towns Active







Expired Listings

W/drawn Listings

Closed Listings

RobbinsvilleAll Styles 134 18 7 35 17 45 36% 10 5 12

RobbinsvilleCondo/ T.Houses

71 9 8 21 12 23 32% 3 4 10

Single Family 63 9 7 14 5 22 35% 7 1 2

Hightstown Boro: All Styles 77 4 19 13 9 17 22% 4 1 5

Pennington 29 3 10 8 5 6 21% 1 1 3

Hopewell Boro 22 3 7 4 1 6 27% 1 1 2

5/18/10Towns Active







Expired Listings

W/drawn Listings

Closed Listings

SouthBrunswickAll Styles

223 29 7 61 32 77 34% 29 4 28

South BrunswickCondo/ T.Houses

66 11 6 21 10 34 51% 11 1 11

South Brunswick55+

26 3 9 2 -1 3 11% 4 0 5

South BrunswickSingle Family

131 15 13 38 23 38 29 14 3 12

Monroe:All Styles 444 38 11 102 64 74 16% 71 2 8

Monroe:55+ 272 20 14 65 46 33 12% 42 1 34

Monroe:Single Family 172 18 9.5 37 18 41 23% 29 1 14

Fannie Mae: National Housing Survey Results

Nationwide Survey About Housing Sentiment

• 3,400 people interviewed

• A cross-section of the general population:

– Homeowners– Mortgage borrowers– Renters– Underwater borrowers– Delinquent borrowers

Key Findings

“Consumers are still committed to owning a home, but are showing increased cautiousness, regardless of whether they rent, own their homes outright or have a mortgage. They are rebalancing their attitudes toward housing and homeownership by adopting a more realistic, long-term approach, and are less willing to take risks. This focus on sustainable housing is better for the economy, better for the housing market and better for America’s families.”

– Doug Duncan, vice president and chief economist, Fannie Mae

Housing and the Economy

Nearly two-thirds of respondents(64 percent) think it is a good time to buy a house, and nearly one in three (31 percent) think now is a very good time to buy a house.

Opportunity: Almost everyone you talk to thinks now is a good time to buy. I will invest time with buyers and show them why now is a great time to buy and why working with you and our company is the right decision.

SOURCE: Fannie Mae National Housing Survey, 12/09-1/10

Desirability of Homeownership

Respondents cited non-financial reasons such as safety (43 percent) and quality of local schools (33 percent) as driving factors in wanting to own a home, ahead of economic considerations.

Opportunity: Be the neighborhood expert. Consumers are more interested in the benefits of owning or trading up than economic factors.


Renters’ Views on Renting and Homeownership

Nearly seven in 10 renters(67 percent) plan to buy a home at some point in the future.

Opportunity: You have a70 percent chance of converting a renter to a buyer with good follow-up skills. Chances are, we have a mortgage program to fit their needs NOW.


Challenges Facing Homeowners

Most respondents (60 percent) believe it is harder for them to get a mortgage to purchase a home than it was for their parents. Nearly seven in 10 (68 percent) think it will be even harder for the next generation.

Opportunity: Every home comes with mortgage, insurance and title so you can buy it. We have a solution for almost any borrower.


Attitudes About Delinquency

Nearly nine in 10 Americans(88 percent), including seven in 10 who are delinquent on their own mortgages, do not believe it is acceptable for people to stop making payments on an underwater mortgage; 8 percent believe it is acceptable.

Opportunity: Downsizing, trading- up, refinancing or first-time buyers, everyone NEEDS a place to live. Whatever their situation is we can help.


Greater Princeton Area Market Data May 21 10

Real Estate

reduced expired

market listings

lowest level

good time

year frm

listings

time

year