January Real Estate Sales in Little Silver

While January was a slow month for closed sales in town, I see there are 18 single family homes under contract.  Ten are due to close in March, four in February and the rest April, May, June.

Inventory is low right now with only 19 of homes for sale as of today.  Last February, there were 33.  I anticipate more coming up for sale as the spring market kicks in. Sandy hit our town hard and I believe many of us are still shaking the sand off.

Have you received your new property tax assessment card?  I would be happy to provide sales comparables if you are curious or plan to file an appeal.  Keep in mind comparables need to be closed sales as of October 1, 2012.  The Monmouth County Board of Taxation may take later comps into consideration (no later than Dec. 31) if you have less than three but it's not a sure thing.

Typically appeals must be received on or before April 1 however in a district where a revaluation or assessment has been implemented, the appeal filing deadline is extended to May 1.  If you look on the back of the card, there are instructions on how to view "A Guide to Tax Appeal Hearings".  I can send you a copy of this as well.  It's very informative and offers step by step instructions and a Chapter 123 Worksheet to help determine the appropriateness of your assessment.

I hope this information is useful!

Kathleen