RSSSouth Orange NJ Home Sales August 2009
The rate of home sales in South Orange NJ during the month of August was fairly moderate. While other towns seemed to be busier homes in South Orange seemed to sit. The month of September seems to be a different story though. The buyers are out, the consensus seems to be that many of them are trying to lock in good home mortgage interest rates before they go up. As of Friday 9-18-2009 I had 2 different mortgage brokers tell me they could get 30 year fixed rate mortgages at 4.75%. Other buyers are trying to beat the deadline for taking advantage of the $8000 home buyer tax credit, which expires on December, 1 2009.
September likely will show a much more lively South Orange NJ Real Estate market!!
South Orange has a lot to offer potential home buyers, and has been a natural favorite among home buyers who commute into NYC. The New Jersey transit train getting people to NYC Penn station in 35 minutes has quite a lot to do with that. The upscale shops and abundant restaurants, and deli’s within walking distance of the train station also help as well as the brand new preforming arts center and movie theater located next to the South Orange NJ train station.
South Orange NJ Home Sales
- 315 Scotland Rd. $339,000LP Ranch 2br 1ba $332,000SP 12DOM
- 142 College Pl $399,900LP Colonial 4br 1.1ba $400,000SP 65DOM
- 17 - 25 Church St $450,000LP MultiFlr 3br 2.1ba $430,000SP 70DOM
- 18 BROOKWOOD RD $530,000LP Colonial 5br 3.2ba $520,000SP 48DOM
- 181 Village Rd. $629,000LP Victrian 5br 2.1ba $610,000SP 8DOM
- 70 CREST DR $699,000LP Colonial 4br 4.2ba $615,000SP 44DOM
- 380 HILLSIDE PL $719,000LP Victrian 8br 3.1ba $685,000SP 43DOM
- 22 FRANKLIN TER $779,000LP Colonial 5br 3.2ba $729,500SP 44DOM
- 191 WYOMING AVE $879,000LP Colonial 5br 4ba $879,000SP 8DOM
- 365 WARWICK AVE $888,888LP Meditter 5br 2.2ba $860,000SP 126DOM
Thinking of buying or selling a home in South Orange NJ 07079? A great Realtor can make a huge difference in how the who process goes. One of the best ways to make sure you are getting a great Realtor is to make sure your Realtor is a full time Real Estate professional, and not someone who is off working at Macy’s during the day, or delivering the mail, and only availible to you after they work their regular job.
James Boyer, Full time South Orange NJ Realtor at your service.
James Boyer
South Orange NJ Realtor
South Orange NJ Real Estate
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
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Morris Township NJ Real Estate Sales Update
Another installment of the Morris Township NJ Real Estate update for April 2009. This past month was a fairly good month for home sales. 2009 seems to be a year of building sales. I mean by that, I think that as the year goes by the market will continue to get better and better. May is already seeming to be a good month as well.
There is so much stimulus in the economy that I would not be surprised to see the economy seeming to be getting somewhat better by the end of summer. In any event that are some smart home buyers out there looking to take advantage of the low interest rates as well as low home sales prices. There are some wonderful deals on homes out there so why not.
Morris Township NJ Real Estate Sales Update
- 210 PITNEY PL $229,000LP OneFloor 1br 1ba $224,000SP 40DOM
- 1B Leva Drive $325,000LP OneFloor 2br 2ba $315,000SP 38DOM
- 3 LANGDON LN $339,000LP CapeCod 3br 2ba $290,000SP 123DOM
- 5 MILL RD $359,000LP Colonial 3br 1.1ba $328,750SP 132DOM
- 33 WITHERSPOON CT $359,900LP MultiFlr 2br 2.1ba $350,000SP 35DOM
- 16 SPRINGVIEW DRIVE $399,000LP Colonial 2br 1ba $390,000SP 37DOM
- 11 MILL RD $399,000LP Colonial 3br 1.1ba $378,800SP 60DOM
- 8 Egbert Hill Road $429,000LP Victrian 3br 1.1ba $415,000SP 37DOM
- 28 NORTHBRIDGE PL $475,000LP TwnIntUn 3br 2.1ba $465,000SP 178DOM
- 48 BURNHAM PKY $479,000LP Bi-Level 5br 3ba $455,000SP 59DOM
- 60 Keats Way $499,000LP SeeRem 3br 2.1ba $465,000SP 196DOM
- 108 SPRING BROOK RD $499,900LP Bi-Level 4br 2.1ba $490,000SP 208DOM
- 19 Brookfield Way $500,000LP SplitLev 3br 2.1ba $485,000SP 116DOM
- 7 VALLEY VIEW ST $519,000LP Colonial 4br 2.1ba $530,000SP 52DOM
- 30 STONEHENGE RD $529,000LP SplitLev 4br 3ba $520,000SP 2DOM
- 166 LAKE RD $599,999LP Colonial 4br 2.2ba $576,000SP 201DOM
- 34 Bradwahl Dr $699,900LP Colonial 4br 3.1ba $700,000SP 201DOM
- 8 SPENCER DR $1,295,000LP Colonial 6br 4.1ba $1,225,000SP 29DOM
Looking for Morris Township NJ homes for sale check out the Morris Township NJ Real Estate page of the main website.
James Boyer
Morris Township NJ Realtor
Morris Township NJ Real Estate Expert
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Category: Morristown, Uncategorized | 2 Comments »
Liberty Greens Condominiums Morris Twp NJ 07960 Home Sales
Liberty Greens is one of the condo communities that looks much more like town homes than condos. Situated just a short 5 minute walk from the Convent Train Station of New Jersey Transit’s Morristown Line, Liberty Greens has a prime location on Morris Twp’s east side within the Convent Station neighborhood. This prime location has attracted Morris County area home buyers who want the easy ability to use the NYC train without the hassle of worrying about parking or snow or …
Liberty Greens Condominiums Morris Twp NJ 07960 Home Sales
Just like everyplace else, home sales have slowed a bit as of late compaired to the 2007 real estate selling season. In 2008 Liberty Greens had 7 condos sell for a average price of $479,500 and a median price of 470,000. This compairs to the 2007 Liberty Greens condo sales which amounted to 10 sales at a average sales price of 526,950 and a median sales price of 515,500.
Here are the actual condo sales for Liberty Greens in 2008:
Morris Twp. 9 Pilgrim Court $429,000LP 2br 2.1ba 1Gar $409,000SP 164DOM
Morris Twp. 15 Thomas Paine Rd $445,000 3br 2.1ba 1GAR $435,000SP 118DOM
Morris Twp. 21 Independence Ct $470,000LP 3br 2.1ba 1GAR $470,000SP 52DOM
Morris Twp. 7 Independence Ct $480,000LP 3br 2.1ba 1GAR $450,000SP 130DOM
Morris Twp. 17 PILGRIM CT $509,000LP 3br 2.1ba 1GAR $495,000SP 40DOM
Morris Twp. 3 INDEPENDENCE CT $510,000LP 3br 2.1ba 1GAR $482,500SP 36DOM
Morris Twp. 1 Pilgrim Ct $645,000LP 3br 2.1ba 1GAR $615,000SP 16DOM
Home prices have come down and so have interest rates, though for the past week or so the mortgage interest rates seem to have been going back up a bit. Just goes to show that you cannot depend on Mortgage interest rates to stay down forever. I believe that home prices will be staying around these levels for the remainder of 2009, but the risk is that mortgage rates could go up. At any price point if interest rates went up 1% your mortgage payment if you locked in at that point would be 9% higher.
Thinking about buying a Liberty Greens condo or a home anyplace in Morris Essex Union Sommerset, or Sussex County? Visit the home search tools at Morris County MLS Home Search.
James Boyer
Morris County REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Category: Uncategorized | 2 Comments »
Real Estate Buyers’ Market, Morris County New Jersey
A buyers’ real estate market is what we are currently in here in New Jersey, but what are the New Jersey home buyers’ doing?
Real Estate Buyers’ Market, Morris County New Jersey
A Buyers’ Market Should Be Just That — a buyers’ market. It is not a fence-sitting, waiting, loitering, delaying, dawdling, postponing, vacillating, hesitating, wavering, faltering, pausing, foot-shuffling, excuse market. (Shift, Gary Keller)
This statment hit home with me when I read it a few days ago. It seems that many New Jersey home buyers are making the typical mistake. These New Jersey home buyers seem to be trying to time the real estate market. They are listening to the medias’ uninformed advice and continual negative news, not realizing that the media is always well behind the curve when things are changing.
Why is trying to time the market a mistake? The first thing is, how will you decide that we have reached the bottom? In reality you will only know we have reached a bottom once the New Jersey real estate markets have been moving up for a while. It is quite possible we could see the best homes jerk up in value 7 or 8% when there is a realization that the time to buyer has already come. If you are sitting back trying to time the real estate markets you certainly will not have a home picked out and will not be ready.
There is a old saying among stock market traders, Bulls make money, bears make money, but pigs get slaughtered. Trying to time the New Jersey real estate market puts you in the possition of the pig.
If you are a New Jersey home buyer, now is the time. Mortgage interest rates are at historic lows. My good friend and trusted business partner, Bob Scarzella over at Countrywide Mortgage was quoting 4.675% 30 year fixed rate New Jersey home loan mortgages. Home prices are at 2004 to 2005 levels depending on the town, as well as the price range of the home.
This is a wonderful time to be a move up buyer. In many towns, homes in the 300K to 450K are only off 5% to 9% from their peak value, while homes in the 700K to 900K price range are off of their peak value buy as much as 20% or even more depending on the town.
New Jersey home buyers’
There are some truely great deals out there. Between the low interest rates and the affordable prices, if you purchase your home now, you will be able to look back a few years from now and say to yourself, boy I am glad I when ahead and purchased my home.
$7500 First time home buyer tax credit
There is even a $7500 first time home buyer tax credit availible if you close on your home before 7/1/2009. e-mail me for details.
James Boyer
Morris County REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Category: Uncategorized | 3 Comments »
Home Tour in Madison, Chatham, Florham Park, & Summit New Jersey
December 30th of any year is not usually a busy day in the real estate business. In this blog post I will detail my tour of homes, with my clients who are relocating to New Jersey. They were in town for the day, and will be back in a few weeks, but that is normal for relocation clients.
Today I showed homes in 4 towns along the Midtown Direct train line.
Madison NJ homes for sale
Showed 2 homes in Madison New Jersey today. Both were priced to sell, one in great condition, and one in ok condition. The second one would be well served by putting a few cans of paint on the walls and a considerable de-cluttering effort.
Florham Park NJ Homes for sale
1 home showing in Florham Park, nice home I would say over priced considering the competition we looked at in Madison and Chatham.
Chatham NJ Homes for sale
Showed 3 homes in Chatham, 2 in Chatham Boro and 1 in Chatham Township. 2 of these homes were really great, and 1 was just ok, did not do anything for me or the home buyer.
Summit NJ Homes for sale
Showed 2 homes in Summit. Once again, one of the homes was really nice and seeming to be priced well also. The other home needs some updating and a price reduction.
All and all I continue to be impressed every time I show homes in Morris Essex and Union Counties of New Jersey. This time, just like most of the times I am finding some very good deals out there. Sure I still find homes where I have to think, what is this home owner thinking or even more so, what is this REALTOR thinking with such a listing price. I would rather turn down a real estate listing than to over price it by 100K in this market.
With mortgage interest rates down so much and home prices down, now is a great time to purchase a Northern New Jersey home.
James Boyer
NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Madison NJ homes for sale | Chatham NJ homes for sale | Florham Park NJ home for sale | Summit NJ homes for sale
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6 Months in Millburn NJ Real Estate Sales
First of all Merry Christmas and Happy holidays. I hope that everyone is having a wonderful holiday season. Looks like we managed to have a white holiday after all.
6 Months in Millburn NJ Real Estate Sales
Today I wanted to do a comparison of home sales in Millburn New Jersey. Normally I would do a 12 month verses 12 month but for Millburn New Jersey that is more difficult because of the shear number of homes that actually sell in Millburn each year, so I thought I would do 6 month comparisons. So today we are looking at home sale statistics for 6/25/2007 -12/25/2007 -vs- 6/25/2008 - 12/25/2008.
So here we go,
Millburn NJ home sales (6 month time periods)
146 Millburn NJ homes sold in 2008
171 Millburn NJ homes sold in 2007
14.8% Decline in the number of Millburn homes sold
Average Home List Price in Millburn New Jersey
$1,238,207 Average list price for Millburn NJ Real Estate 2008
$1,383,744 Average list price for Millburn NJ Real Estate 2007
10.6% Decline in the Average Millburn NJ List Prices
Average Home Sold Price in Millburn New Jersey
$1,186,854 Average sold price for Millburn NJ Real Estate 2008
$1,337,511 Average sold price for Millburn NJ Real Estate 2007
11.3% Decline in the Average Millburn NJ Sold Price.
Median Home Listing Price in Millburn New Jersey
$ 975,000 Median listing price for a Millburn NJ Home in 2008
$1,050,000 Median listing price for a Millburn NJ Home in 2007
7.2% Decline in the Median Millburn NJ Home Listing Price.
Median Home Selling Price in Millburn New Jersey
$ 955,000 Median Millburn NJ Home Listing Sold Price 2008
$1,062,000 Median Millburn NJ Home Listing Sold Price 2007
10.1% Decline in Median Millburn NJ Home Sold Price
The average and median home size remained the same for the comparison periods as well as the number of days on market remaining similar with that statistic being 58 days to sell a Millburn NJ home in 2008 -vs- 50 days for a Millburn NJ Home to sell in 2007.
When thinking about purchasing Millburn NJ Real Estate make sure that you are working with a good Real Estate Buyers Agent. It is a common mistake to try to get the best deal on your next home but work with the listing agent. The listing agent for the home has the responsibility to get the best possible deal for the home seller, is that what you really want?
James Boyer
Millburn NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
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New Jersey Home Mortgage Interest Rates Falling
I am sure many of you have heard the news, that the Federal Reserve has lowered interest rates once again. This time that basically came out and admitted that the housing slump is the root of the economic trouble in the country right now. The Fed came out and said that they are going to do what ever it takes to stabilize real estate prices.
How are they going to do that? Well they already lowered the rate that banks charge each other for over night loans to about 0% so they really cannot lower interest rates any more, or can they? Yes they can actually! They are going to start buying mortgage backed securities, the bundled mortgages that home buyers take out when the purchase New Jersey homes and homes across the county.
What will that do though? Just like with government and corporate bonds, the higher the price that a buyer is willing to pay the lower the interest rate. If the Fed starts buying up a significant number of mortgage backed securities, the price for them will start going up and the banks will have lots more money to lend at competitive interest rates.
I know this is long and kind of boring but here is the good part. The mortgage payment on a $400,000 mortgage at 5.25% is $2208.81but you take the interest rate down to 4.5% which is quite possible and that payment drops to $2026.74 a significant savings.
I have a feeling that there is going to be a fairly busy spring real estate market, how do I know? I am currently working with more New Jersey home buyers here in December than in all of October and November combined.
Considering purchasing a Northern New Jersey home? Check out the best online home search in the area, the Morris Essex and Union County MLS Real Estate Search. There you can find every Morris Essex & Union County home listed for sale in the MLS.
James Boyer
NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Category: Uncategorized | No Comments »
To Stage Or Not To Stage Your Morris County Home
The old way of shopping for a Morris County home.
It used to be that the first time a home buyer looked at a home was in person, standing in the home. The home may not have been picture perfect but a prospective home buyer could use their imagination and see the possibilities.
The new way of shopping for a Morris County home.
Today, 84% of home buyers are seeing a home for the first time online. They are making decisions on how a home meets their needs by the pictures they see only. There is not much using of ones imagination to see the possibilities.
Showing your Morris County Home In The Best Possible Light.
It is very important when selling your Morris County home that the pictures to be used in its marketing be as good as possible. That is why I always recommend staging your home, at least for the marketing pictures. Think about it this way, if I show you a picture of a cluttered living room compaired to a elegantly staged living room with just the right amount of furniture, subconsciously you are going to like the staged living room much more. that is how home buyers tend to make their choices about which homes they like the best and actually look at in person.
Staged Morris County Homes Sell For More.
Morris County home buyers and home buyers around the world make value judgments by what they look at. These home buyers just put more value in a home that is staged over one that is not. I can point out to these home buyers that they can get a much better deal on a home that shows cluttered or needs paint, and minor updating, but for the most part home buyers don’t see things that way.
Staging To Sell Your Home.
Staging is about furnishings, fixtures, plantings, pictures, and paint.
Think about how you felt the last time you watched a truly great movie, you did not want to run to the washroom, or be interrupted in any way and wished for more when it ended. You want your home buyers to feel the same way when they are looking at your home.
The first thing you need to do is drive by your home and ask yourself, if you were a home shopper would it grab you and say you have to see me? Make sure your home shows well on the outside. Nice well kept plantings, as well as fresh paint help so much.
On the inside, the entry way and first rooms that home buyers will enter should be spotlessly clean, have fresh paint, and be decluttered. Your kitchen should have the countertops completly cleared of all appliances and other clutter so that it shows as clean and large as possible. All other rooms, should be clean decluttered and freshly painted if possible.
Morris County Real Estate Buyers
When it comes to getting the best possible deal on your next home purchase, Let me help you find that get real estate deal. I know the market well, I have purchased many homes personally which needed some updating, to full rehabilitation, so I know what is a good deal and what is not. Let my experence guide you to your next home.
Morris County REALTOR
James Boyer Morris County REALTOR, RE/MAX Properties Unlimited, 973-539-6300 Office, 973-647-0253 Direct Specializing in towns such as Chatham New Jersey, Morristown New Jersey and all of Morris County.
Morris County REALTOR | Morris County Real Estate | Chatham New Jersey | Morristown New Jersey | Staged Morris County Home | Morris County MLS Listings Site Map
Category: Uncategorized | 1 Comment »
Harding NJ Home Sales November 08
There were 2 homes sold in Harding New Jersey during the month of November. Both would qualify as Harding NJ Luxury Homes in reality, which happens to the be weakest market segment in most towns. In reality the best preforming segment of the local real estate market is the lowest priced segment which happens to be dominated by first time home buyers.
Here are the Harding NJ Luxury Real Estate sales for the Month of November
TOWN ADDRESS LP STYLE BRS BTH GAR SP DOM
Harding 18 Anthony Wayne Rd $1,375,000 Colonial 4 2.1 2 $1,200,000 54
Harding 547 TEMPE WICK RD $1,999,000 Colonial 5 4.1 3 $1,750,000 314
Two home sales in all of Harding New Jersey is not really a encouraging number, but look for the market to slowly improve in 2009.
Remember the golden rules of selling your home. Price your home aggressively (that means 2% - 4% below your active and recently closed competitions list price) and higher a marketing savvy local REALTOR. Now is not the time to hire your best friends cousin just because it is easy to do. Interview 2 or 3 local REALTORS who can reach the home buyers where they are searching, on the Internet.
You may say to yourself, how do I figure out which REALTOR can effectively reach the home buyers for my Harding NJ home. One of the best ways to determine who to interview would be to go to places on the internet such as google.com and yahoo.com and search Harding NJ Real Estate and Harding NJ REALTOR and Harding NJ Homes For Sale, or you can just visit my website at Harding NJ Home Sales as I already know that jboyerhomes.com ranks at or near the top of every one of those searches and gets better then 60% of the search traffic for those search terms.
James Boyer
Harding NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Harding NJ Real Estate | Harding NJ Homes For Sale | Harding NJ Home Sales |Harding NJ Luxury Real Estate
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Millburn NJ Luxury Real Estate
Millburn NJ Luxury Real Estate comparison of 12 months ended November 1 2008 VS 12 months ended November 1 2007.
Millburn NJ 07041 and Short Hills NJ 07078 (a neighborhood in Millburn) is well known as an home to some of the nicest and classiest homes in Northern New Jersey. I thought I would do a comparison of the Millburn NJ Luxury home sales the last 2 years. I defined a Millburn NJ luxury home as a home costing a million dollars or more for this report.
Millburn NJ Luxury Real Estate Sales 07–149
Millburn NJ Luxury Real Estate Sales 08–123
Decline of –17.5%
Millburn NJ Luxury Real Estate Average List Price 07–$1,980,192
Millburn NJ Luxury Real Estate Average List Price 08–$1,943,128
Decline of –1.9%
Millburn NJ Luxury Real Estate Average Sold Price 07–$1,897,006
Millburn NJ Luxury Real Estate Average Sold Price 08–$1,849,833
Decline of–2.5%
Millburn NJ Luxury Home Sales Median List Price 07–$1,650,000
Millburn NJ Luxury Home Sales Median List Price 08–$1,599,000
Decline of –3.1%
Millburn NJ Luxury Home Sales Median Sold Price 07–$1,608,000
Millburn NJ Luxury Home Sales Median Sold Price 08–$1,517,500
Decline of –5.6%
Millburn NJ Luxury Home Sales Average Days To Sell 07–73.7
Millburn NJ Luxury Home Sales Average Days To Sell 08–51.9
Median size of a Millburn NJ Luxury home in both 2007 and 2008 was 5 bedrooms 4.1 bathrooms.
As you can see values for luxury homes in Millburn New Jersey are holding up better then mid priced family homes in many of the local towns. Part of that is explained by home owners holding out for better prices in Millburn NJ. The number of luxury homes sold in Millburn is off 17.5% and there are currently 57 luxury homes on the market in Millburn NJ with a average days on market of 93.1.
Many of these home owners may think that they will get a considerably better price for their home come spring than they may have been offered over the past 93 days, but I think they are wrong. These home sellers will be lucky to get similar prices in the spring as they could get over the past few months.
Thinking of shopping for a Millburn NJ Luxury Home, visit the best mls search in town.
James Boyer
Millburn NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
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Buying New Jersey Foreclosure Real Estate
Things to know when thinking about buying New Jersey foreclosure real estate.
1. Bank owned homes (foreclosures) are always As Is, no warranty expressed or implied. They will not accept any home inspection contingencies or make any repairs for you. You can do a home inspection but it is for your own information, and it would be wise to do it fast and before you are locked into the deal. In New Jersey we have the attorney review period so it is wise to get your informational home inspection done before coming out of attorney review.
2. Bank owned homes (foreclosures) do not have disclosure statements. The bank knows nothing about the home and will not make any representations about it. I have made bids on homes which had 2 new heating systems 2 new central air conditioning systems and more bathrooms than the bank acknowledged. All of these things made the home worth much more than it otherwise would have been, but the bank knew nothing about them.
3. The bank will want to move quickly once you have made an acceptable offer. Once you are under contract, expect for the foreclosure bank to want to close in 30 days or less.
4. Banks are not dumb, acceptable offers on bank owned properties will make financial sense. If the foreclosed home needs 50K worth of work and is priced at 200K in a neighborhood that sells for 350K they are not going to accept your offer for 125K. If you are not making an offer within 10% of the asking price that chances they are going to accept your offer are very low. On the flip side of that, many banks will lower the price on these REO (real estate owned) homes 5% every 30 days until they get acceptable offers.
5. Many times foreclosure homes will sell above asking price. I have experienced this first hand, I bid on a home in New Jersey a few weeks ago at 200K. Almost immediately I got a response from the real estate agent for the foreclosure telling me that they had 3 or 4 other offers and instructing me to come back within two days with my highest and best offer. The foreclosure home got bid up 10% above the banks asking price. The lesson here is, if the deal looks really good, others will notice as well and the home will likely sell fast and for more than the foreclosure banks asking price.
6. The highest and best offer wins, if you make a offer on a foreclosure home but need to get financing, or you ask for the bank to help you with closing costs, but someone else offers a similar amount and will be paying cash and not asking the bank to help with closing costs the bank is going to pick the cash offer every time. Another example is if you offer more but need to close in 90 days, but someone else will close in 30 days and both offers are acceptable to the bank, the bank will take the offer that is in 30 days.
7. Mortgage Pre-Approval required. Just like with making an offer on normal resale real estate you will need to have an up-to-date mortgage pre-approval completed to supply with your offer on bank owned property. In many cases the Foreclosure Bank will require you to get a pre-approval through them. This gives them much more insight into your ability to complete the transaction, and also allows them to make a little bit of money back on the loss they are likely taking on the real estate.
Thinking of investing in New Jersey real estate? Visit the Morris County NJ home search, where you can find every home currently listed for sale in our local Multiple Listing Service (MLS). There are many great deals to be had in this current real estate cycle, some of these great deals are foreclosures, and some of the great deals are just home owners who need to sell in order to move on with their lives.
Category: Uncategorized | 1 Comment »
Home Sales Report Morris Township New Jersey
October 2008 Home Sales Report Morris Township New Jersey.
October of 2008 was not a banner month for sales of anything. With the financial crisis home sales suffered as well as car sales, and even retail sales for such things a gasoline food and clothing were down quite a bit. So how were the home sales in Morris Township New Jersey? Actually not that bad, there were 17 home sales in Morris Township for the month as compaired to the same month of 2007 having 20 home sales.
The perception of what is happening is not at all reflecting reality though. Almost every day I talk to one neighbor or another here in the Convent Station section of Morris Township, and almost without fail I hear from them that nothing is selling, that this is not a good time to move. When I tell them, that is not so, they just look at me with doubt. Until I show them the numbers on paper, then they are shocked and usually ask, what about all the news reports. The news reports are all well and good, but they are usually compiling data accross a wide area, if not the whole country. Real estate markets are very local. What is happening in one area is not so dependent on what is happening in another state.
The reality is, this is a great time to sell if you are going to be buying another home to live in. This is especially true if you are moving to places where the real estate markets have been hit much harder than here in Northern New Jersey. Those hard hit real estate markets are not hard to find since New Jersey has been effected to a much smaller degree than many other states.
Here are the actual Morris Township NJ Real Estate sales for October 2008:
Morris Twp. 403 Mt Kemble Ave $355,000LP Colonial 2br 2ba $324,000SP 56DOM
Morris Twp. 82 MILL RD $369,999LP CapeCod 3br 1.1ba $350,000SP 38DOM
Morris Twp. 14 CAROLINE FOSTER COURT $396,900LP TwnIntUn 2br 2.1ba $360,000SP 46DOM
Morris Twp. 27 TIMOTHY CT $409,000LP TwnIntUn 2br 2.1ba $396,000SP 51DOM
Morris Twp. 5 CAROLINE FOSTER COURT $423,000LP TwnIntUn 2br 2.1ba $400,000SP 38DOM
Morris Twp. 17 Irondale $429,900LP Colonial 4br 2.1ba $390,000SP 85DOM
Morris Twp. 57 WILDFLOWER LANE $434,000LP TwnIntUn 2br 2.1ba $412,000SP 30DOM
Morris Twp. 30 Midland Dr. $449,000LP Tudor,SeeRem 3br 1.1ba $445,000SP 90DOM
Morris Twp. 101 Lake Valley Rd. $469,900LP Ranch 3br 2ba $459,500SP 88DOM
Morris Twp. 71 Redner Road $499,900LP TwnIntUn 3br 2.1ba $465,000SP 46DOM
Morris Twp. 25 Raynor Road $524,999LP CapeCod 4br 2ba $495,000SP 94DOM
Morris Twp. 8 Sudberry Drive $539,900LP Colonial 4br 2.1ba $525,000LP 82DOM
Morris Twp. 15 CATALPA RD $624,400LP Ranch 4br 2.1ba $600,000SP 77DOM
Morris Twp. 15 HARWICH ROAD $649,900LP Colonial 4br 2.1ba $640,000SP 2DOM
Morris Twp. 8 ARBOR WAY $674,900LP RanchExp 3br 2ba $649,000SP 21DOM
Morris Twp. 3 VENTOSA DRIVE $775,000LP Colonial 4br 2.1ba $740,000SP 67DOM
Morris Twp. 10 WESTMINSTER PL $1,590,000LP Colonial 5br 4.1ba $1,590,000SP 1DOM
There is something I want to point out in this list of Morris Township NJ home sales. There is not one home up there that had been on the market for 100 days or more. In fact there are quite a number of homes which sold in less than 60 days on the market. Why am I pointing that out? It shows the importance of properly pricing your home. If a home sold in less than 60 days, it is very unlikely the home owner had to do a price reduction, and it is much more likely the home sold within a few percentage points of the first listing price.
Want more information about Morris Township NJ Real Estate? Thinking of buying or selling a home in Morris Township NJ or any of the surrounding towns? Visit my Morris Township NJ MLS Search where you will find every home listed for sale in our local MLS.
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