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Oliver Brothers Realtors
Neptune, NJ 07753
Phone: 732-775-6700
Email:Info@OliverBrothers.net

Welcome to the premier resource for all real estate information and services in the area. We hope you enjoy your visit and explore everything our realty website has to offer, including Neptune real estate listings, information for homebuyers and sellers, and more About Us, your professional Neptune Realtors.
Looking for a new home? Use Quick Search or Map Search to browse an up-to-date database list of all available properties in the area, or use our Dream Home Finder form and we will conduct a personalized search for you.
If you're planning to sell your home in the next few months, nothing is more important than knowing a fair asking price. We would love to help you with a FREE Market Analysis. We will use comparable sold listings to help you determine the accurate market value of your home.

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Real Estate News!!!

Latest Realty News from NAR

How Many Active Listings Can you Afford to Buy in the 100 Largest Metro Areas?

Find out how many of the homes which are currently listed for sale you can afford to buy based on your income.

A typical household earning about $51,000[1] can afford to buy 36% of homes for sales in the United States, according to the REALTORS® Affordability Distribution Curve and Score (RADCS). The tool below, updated with August 2018 data, lets you find out what share of homes, which are currently listed for sale, you can afford to buy in the 100 largest metro areas based on your income.

Select a range that best describes the income that you earn. Hover over the map to see the percentage of homes which are currently listed for sale that you can afford to buy.

Dashboard 1

The NAR Research Group and REALTOR.COM have partnered to conduct an analysis of affordability at different income levels for all active inventory on the market. The result of this analysis, the RADCS, shows that a household needs to earn at least $65,000 to afford more than half of the active housing inventory. Currently, the typical household, earning $51,000 can afford to buy 36 percent of homes for sale. Compared to a year earlier, housing affordability across the United States declined in August. The main reason for the decline is that housing inventory remains very low, causing affordability to weaken in most areas of the country.

Among the 100 largest metro areas, Los Angeles-Long Beach et al., CA was the least affordable metro area in August followed by San Diego-Carlsbad, CA and Oxnard-Thousand Oaks-Ventura, CA. In these metro areas, a household earning about $100,000 can barely afford to buy on average 12 percent of homes currently listed for sale. In contrast, the same household can afford to buy on average more than 90 percent of the housing inventory in Youngstown-Warren et al., OH-PA, Dayton, OH and Toledo, OH.

For more information, view the Realtors® Affordability Distribution Curve and Score data page.


[1] Based on Nielsen’s income distribution data

July 2018 Housing Affordability Index

At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates rose to 4.75 percent this July, up 14.7 percent compared to 4.14 percent a year ago.

  • Housing affordability declined from a year ago in July moving the index down 8.2 percent from 151.2 to 138.8. The median sales price for a single family home sold in July in the US was $272,300 up 5.2 percent from a year ago.
  • Nationally, mortgage rates were up 61 basis point from one year ago (one percentage point equals 100 basis points).

  • Regionally, the Northeast recorded the biggest increase in home prices at 7.0 percent. The West had an increase of 5.3 percent while the South had a gain of 3.1 percent. The Midwest had the smallest growth in price of 2.5 percent.
  • Regionally, all four regions saw a decline in affordability from a year ago. The Northeast had the biggest drop in affordability of 10.3 percent. The West had a decline of 8.3 percent followed by the South that fell 6.8 percent. The Midwest had the smallest drop of 2.2 percent.
  • On a monthly basis, affordability is up from last month in three of the four regions. The Midwest had biggest gain of 7.9 percent. The West had an incline of 2.6 percent followed by the South with an increase of 2.1 percent. The Northeast had the only dip in affordability of 1.1 percent.
  • Despite month-to-month changes, the most affordable region was the Midwest, with an index value of 183.6. The least affordable region remained the West where the index was 101.2. For comparison, the index was 143.0 in the South, and 142.2 in the Northeast.

  • Mortgage applications are currently down 1.8 percent and mortgage rates are continuing to rise. Credit availability has declined which is a sign that there is constriction on lending standards. Job creation is up as well as new homes sales. As inventory increases, more buyers are likely to come into the housing market. Home prices are up 4.6 percent while median family incomes are only growing 3.2 percent.
  • What does housing affordability look like in your market? View the full data release here.
  • The Housing Affordability Index calculation assumes a 20 percent down payment and a 25 percent qualifying ratio (principal and interest payment to income). See further details on the methodology and assumptions behind the calculation here.

 

 

 

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Testimonials Page

In all our dealings with Realtors over the past ten years, we have never met anyone as helpful and energetic as you have been. Without hesitation, we would highly recommend your service to anyone who is looking for an experienced Realtor who cares about getting things done and doing them right! Thanks for taking such good care of us, we couldn't have done it without you!
Thank you so much for taking the extra effort to make our first home purchase successful. You were there guiding us through all the crucial and important steps! You really listened to what we wanted in our home and you found exactly what we were looking for - at an amazing price! If we ever outgrow this home, we'll definitely be calling you!
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