RSSChatham Boro Real Estate Sales May 2009
Chatham Boro New Jersey, the Chatham located around the Chatham Trainstation or New Jersey transit and the Chatham downtown.
Chatham Boro Real Estate sales for May 2009 were relatively strong this year as many home sellers decided to price their homes to sell. Of course the home buyers who were wanting into Chatham Boro were only so happy to snap up the great deals out there. Contributing factors for Chatham Boro and other towns were that interest rates were inching higher and many people decided to get off the fence and lock in a great rate. Another contributing factor was and still is the $8000 home buyer tax credit which expires December 1st 2009.
I currently have one Chatham Boro home under contract and 2 other home buyers who are looking for a home within walking distance of the Chatham Boro train station.
Chatham Boro Real Estate Sales May 2009
- 84 Woodland Rd $375,000LP Bi-Level 4br 1.1ba $335,000SP 67DOM
- 34 Minton Ave $429,900LP CapeCod 3br 2ba $395,000SP 12DOM
- 104 CENTER AVE $520,000LP Colonial 3br 1ba $485,000SP 159DOM
- 31 HEDGES AVE $545,000LP Colonial 4br 2ba $520,000SP 57DOM
- 60 WATCHUNG AVE $549,000LP Colonial 3br 1.1ba $545,000SP 11DOM
- 119 WESTON AVE $559,000LP SplitLev 3br 1.2ba $528,000SP 4DOM
- 15 Vincent St $599,000LP Colonial 3br 1.2ba $599,000SP 22DOM
- 27 CHATHAM ST $599,000LP Colonial 3br 1.1ba $560,000SP 104DOM
- 67 WASHINGTON AVE $615,000LP Colonial 3br 2ba $610,000SP 22DOM
- 10 ELM PL $619,000LP Colonial 3br 1.1ba $605,000SP 8DOM
- 21 TALLMADGE AVE $629,000LP Colonial 3br 1.1ba $665,000SP 9DOM
- 70 HEDGES AVE $699,999LP Colonial 3br 3.1ba $650,000SP 37DOM
- 63 HEDGES AVE $799,900LP Colonial 4br 2.1ba $799,000SP 38DOM
Want to find a great deal on Chatham Boro Real Estate, the place with all the homes currently listed for sale in Chatham is Chatham Boro Real Estate and MLS Search.
James Boyer
Chatham Boro Realtor
Chatham Boro Real Estate Expert
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Category: Chatham | 1 Comment »
Chatham NJ Homes For Sale, The February 2009 Sold Report
February was yet another slow month for Chatham NJ homes for sale. During the month there were 6 homes which sold and transferred to their new owners. This compairs to 50 homes activly for sale in Chatham Boro and 96 homes activly for sale in Chatham Township as of March 4th 2009. To be sure things are picking up, though at a somewhat slow pace. As of today there are 14 homes under contract in the Chathams.
With the $8000 home buyer tax incentive for 2009 and all the other stimulus that is out there in the economy it is expected that things will continue to pick up through the year. There are many financial analysts who are beginning to believe in a fairly strong economic recovery in late 2009 or early 2010. I believe that this is a strong possibility as well. The old adage of it is always darkest before the dawn has worked well in describing how the economy acts before, and I believe it will describe this economic cycle as well.
Chatham NJ Homes For Sale, The February 2009 Sold Report
Chatham Boro 1 LUM AVE $399,800LP Colonial 3br 2ba $355,000SP 63DOM
Chatham Boro 155 Hillside Ave. $485,000LP Colonial 3br 1ba $472,000SP 89DOM
Chatham Boro 6 TAFT ST $539,900LP CapeCod, 4br 2ba $518,500SP 72DOM
Chatham Boro 138 WASHINGTON AVE $829,000LP Colonial 3br 2.1ba $805,000SP 138DOM
Chatham Boro 15 WOODS LN $1,575,000LP Colonial 4br 3.1ba $1,485,000SP 134DOM
Chatham Twp. 114 SUNSET DR $1,250,000LP Colonial 5br 3.1ba $1,220,500SP 29DOM
Seems like at least for this period Chathm Boro got more of the attention from the home buyers than did Chatham Township. This could be because of the proximity to the Chatham Train Station, but it could also have to do with pricing of the homes.
Home buyers have been very careful about making sure they are getting good value in a home, and as such have been refusing to make offers on homes they consider to be over priced. Lesson her, if you are a home seller, over pricing even by a little bit is deadly. If you are a home buyer, there may be some really good deals to be had in homes that look to be a little over priced, you just have to try. There is nothing wrong with writing a offer 15% below asking price on a home that has been on the market for 3 or more months!! It could be just the wake up call the home seller needs.
Thinking of purchasing a home and taking advantage of the $8000 home buyer tax credit in 2009? Stop by the Morris Essex & Union County MLS home search to find every home listed for sale with multiple pictures and a content rich details section.
James Boyer
Chatham NJ Realtor
Chatham NJ Real Estate Expert
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Cell
Category: Chatham | 6 Comments »
Easier Home Purchase Mortgages for Morris County New Jersey??
Easier Home Purchase Mortgages for Morris County New Jersey??
WASHINGTON (Reuters) - The Federal Reserve Board on Tuesday put more pressure on banks to cut dividends as conditions deteriorate, and said it would discourage the use of federal rescue money to fund such payouts.
A New York-based source said earlier that the Fed has been urging banks “in increasingly strong language” to use the bailout money to issue new loans and bolster their reserves, not to pay dividends.
“This letter is a firm reminder that the Fed is going to be tightening the noose on banks,” said Mark Williams, a former Fed bank examiner who is now a finance professor at Boston University. “They are reminding banks that they are stewards of cash and have to use it in appropriate ways.”
Well it is about time. It is my opinion that the large banks which have been getting large sums of money form the federal government should be using that money to make loans, not to pay dividends to their stock holders or to purchase other banks and mortgage companies.
I personally have not recently had home buyers who could not get a home purchase mortgage, but then again many people go to their mortgage person to get a pre-approval letter before they even contact a New Jersey Realtor these days, so people who are turned down likely would not contact me.
In my opinion this is a great time to be getting a mortgage / purchasing a Morris County New Jersey home. Unless you feel that you are extremely likely to lose your job or something, this is about as good a time as any in the last 20 years.
If you would like to take a look at what sort of home deals are out there now, stop by Morris Essex & Union County Real Estate and Homes For Sale.
Cheers,
James Boyer
Morris County Realtor
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Cell
Category: Chatham, Harding, Madison, Morristown | 1 Comment »
Chatham NJ Real Estate Update / January 2009
Another slow month in Chatham Boro and Chatham Township real estate markets. Combined there were only 5 homes sold and closed in the 2 towns. That is a very small number compaired to what would be the norm for a January.
With the stimulus plan about to be passed and a looming $15,000 tax credit said to be coming with the plan I believe that we are going to be seeing a pickup in activity once things become more clear. Until then the Chatham NJ real estate market will have to make due with the home buyers who are already out there.
Chatham NJ Real Estate Update / January 2009
Chatham Boro 75 VAN DOREN AVE $837,500LP Colonial, 4br 2.1ba $838,000SP 14DOM
Chatham Boro 15 AMHERST RD $1,300,000 Colonial 4 2.1 $1,295,000 14
Chatham Twp. 7 YARMOUTH ROAD $639,000 CapeCod 4 2 $625,000 10
Chatham Twp. 24 FAIRFAX TERRACE $749,000 Colonial 3 2.1 $731,000 117
Chatham Twp. 37 RUNNYMEDE RD $949,000 Colonial 4 2.1 $960,000 18
Thinking of buying or selling a home in Chatham New Jersey or anyplace in Morris County, Union County or Essex County New Jersey? Visit the Chatham NJ real estate and MLS search where you will find every home listed in the gsmls in all the towns in these 3 counties and many more towns from other counties as well.
James Boyer
Chatham NJ Realtor
Chatham NJ real estate specialist
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Category: Chatham | 1 Comment »
Morris County New Jersey School Closings
I thought I would post this link to a nice web page that most all the schools in Morris County use to help get the information out about school closings and delays.
I still cannot understand why Morristown NJ public schools do not post their status on the website as well. you can be assured that if all the towns around Morristown close their schools, especially places like Madison and Chatham, that Morristown will have closed their schools as well.
Morris County New Jersey School Closings
If you found this looking for school closing information for Morris County Schools you likely were not looking for Morris County NJ Real Estate information, but if you know anyone who may be thinking about buying or selling Morris County Real Estate send them to jboyerhomes.com the best, most informative Morris County NJ Real Estate website, which also has every home listed for sale in the Morris County MLS for you to see.
James Boyer
Morris County REALTOR
Morris County real estate specialist
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Cell
I hope you find the link to Morris County School Closings useful.
Category: Chatham, Harding, Madison, Morristown | 1 Comment »
Chatham NJ Home Sales December 08
December was a slower month for real estate sales in Chatham New Jersey than would be normal. The slowness this December can be mostly attributed to the credit crunch which is now beginning to fade.
This year there were 10 homes sold in Chatham Boro and Chatham Township as compaired to 14 in December of 2007. The average sale price this year was $789,000 as compaired to $792,000 a year ago. Not a significant difference at all. The Chatham NJ real estate market seems to be fairly resilient and likely will be doing even better in 2009.
Chatham NJ Home Sales December 08
Chatham Boro 6 Sussex Avenue $599,900LP Colonial 3br 1.1ba $540,000SP 50DOM
Chatham Boro 25 CHATHAM ST $925,000 Colonial 3 2.1 $865,000 78
Chatham Boro 47 Chandler Road $1,825,000 Colonial 4 2.1 $1,650,000 65
Chatham Twp. 26E Heritage Drive $285,000 OneFloor 1 1 $275,000 81
Chatham Twp. 5F Avon Court $330,000 OneFloor 1 1.1 $315,000 6
Chatham Twp. 23B Canterbury Rd $348,000 TwnIntUn 2 1.1 $325,000 76
Chatham Twp. 47 Stonewyck Drive $809,000 Colonial 4 2.1 $800,000 16
Chatham Twp. 38 DALE DR $949,995 Custom 3 2.1 $912,500 144
Chatham Twp. 131 Noe Avenue $1,110,000 Colonial 4 2.1 $999,999 155
Chatham Twp. 33 VAN HOUTON AVE $1,259,000 Colonial 5 4.1 $1,210,000 53
Thinking of looking for Chatham NJ homes for sale stop by the number 1 local Chatham NJ real estate website, JBoyerHomes.com
James Boyer
Chatham NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Category: Chatham | No Comments »
Foreclosures, Mortgage Rate Cuts, and 2009 New Jersey Home Sales
Just watching CNBC talking about the latest housing numbers nationally. The talking heads were in a argument about if this is a good time to buy a home.
Foreclosures, Mortgage Rate Cuts, and 2009 New Jersey Home Sales
So what was their conclusion? Markets where foreclosures have been a problem will continue to see price declines, markets where foreclosures have not been a big problem will see a flattening out of home prices. Thankfully New Jersey falls into the category of home foreclosures not having been a big problem.
The Northern New Jersey Real Estate Market
There has been a lot of worry locally about what was likly to happen with the local real estate markets considering all the possible job losses connected to the NYC financial industry. That is a valid concern, and some of the towns have more exposure than others. Of the New Jersey towns that I sell real estate in the towns that seem to have more risk included Summit NJ, Millburn NJ, Maplewood NJ, and Chatham NJ, though it is really hard to say that they will get hurt as many of the people who lose jobs will likly land on their feet.
Getting a great deal on a Morris County Home
One thing that seems sure, is that Mortgage interest rates are not likly to get much cheaper than they are now. There are several major home mortgage companies advertising 4.75% thirty year fixed rate mortgages for home purchases. It is possible that mortgage interest rates could fall to 4.5% or even 4.25% but even those numbers are considered to be a long shot. You may be saying to yourself, I will just wait and see if interest rates fall that low, but be advised that as soon as the Federal Reserve starts getting a strong smell of inflation they are going to pull rates back up.
Home prices have fallen in the area, Many towns along the Midtown Direct (Morristown Line) train line of New Jersey transit are down between 9% and 14% over the last year. Prices do seem to be flattening out though, so looking for additional large price declines is probably a waist of time.
The best time to get a great deal on your next home? When mortgage interest rates are down, and home prices are flat after a downturn, and when most people are not thinking about buying a home. Even the CNBC talking heads are saying, if you can, now is the time to get a great deal on a home. They actually said if you are a first time home buyer 2009 is your year.
Your New Jersey Midtown Direct REALTOR
James Boyer NJ REALTOR, I am a full time, full service professional REALTOR giving my clients top of the line service. Specializing in Morristown NJ Real Estate, Madison NJ Real Estate, Chatham NJ Real Estate, Summit NJ Real Estate, and many of the surrounding towns.
Morristown NJ Real Estate | Madison NJ Real Estate | Chatham NJ Real Estate | Summit NJ Real Estate | New Jersey Midtown Direct REALTOR
Category: Chatham, Madison, Morristown, Summit | 1 Comment »
Chatham New Jersey Home Sales November 08
Here is the November 08 Chatham New Jersey Home Sales Update.
November had 14 homes selling and transferring to their new owners in Chatham Boro and Chatham Township.
Chatham Boro 174 North Passaic Ave $409,900LP CapeCod 2br 1ba $385,000SP 71DOM
Chatham Boro 132 CENTER AVE $629,900LP Colonial 3br 2ba $572,000SP 139DOM
Chatham Boro 40 W COLEMAN AVE $747,500LP Colonial 4br 2.1ba $710,000SP 157DOM
Chatham Boro 26 CHANDLER RD $1,575,000LP Colonial 4br 2.2ba $1,482,085SP 17DOM
Chatham Twp. 25D Heritage Dr $309,900LP Condo 1br 1ba $291,500SP 77DOM
Chatham Twp. 10G SENTINEL CT $349,900LP Condo 2br 1.1ba $320,000SP 38DOM
Chatham Twp. 14 Cedar Lane $449,900LP CapeCod 4br 2ba $437,500SP 42DOM
Chatham Twp. 12 LENAPE TRL $729,000LP Colonial 3br 1.1ba $700,000SP 62DOM
Chatham Twp. 21 Crestwood Dr $849,000LP RanchExp 4br 3ba $830,000SP 16DOM
Chatham Twp. 106 NOE AVE $850,000LP Bi-Level 4br 3ba $760,000SP 162DOM
Chatham Twp. 33 VAN HOUTON AVE $1,259,000LP Colonial 5br 4.1ba $1,210,000SP 53DOM
Chatham Twp. 357 Shunpike Rd $1,745,000LP Colonial 5br 4.1ba $1,625,000SP 183DOM
Chatham Twp. 41 Rolling Hill Dr $2,150,000LP Colonial 4br 3.2ba $2,216,180SP 5DOM
Chatham Twp. 4 Aberdeen Rd $2,495,000LP Colonial 5br 5.1ba $2,200,000SP 69DOM
All and all, not a great month but homes are still selling in Chatham New Jersey, financial crisis or no financial crisis.
To see all the homes currently for sale along with all the details about them, visit Chatham New Jersey Real Estate.
James Boyer
Chatham REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Chatham New Jersey Real Estate | Chatham New Jersey Home Sales | Chatham REALTOR
Chatham New Jersey MLS Listings Site Map
Category: Chatham | No Comments »
Chatham NJ Condo Sales 07 vs 08
Lets take a look at the Chatham NJ Condo market.
In most peoples minds 2008 has been a really bad year in real estate. Truth be told though prices are down accross the board, the numbers of homes selling is not really that different than in 2007. I have been showing and selling lots of Condos in , Morris Twp, Madison, and Chatham over the past many months so I thought it would be interesting to see just what the condo market in Chatham is really doing.
So here are the comparative statistics for the first 10 months of 2007 vs the first 10 months of 2008
Chatham NJ Condo Sales 2007–24
Chatham NJ Condo Sales 2008–22
Chahtam NJ Condo Average List Price 07–$375,266
Chatham NJ Condo Average List Price 08–$329,000
Chatham NJ Condo Median List Price 07–$339,000
Chatham NJ Condo Median List Price 08–$315,000
Chatham NJ Condo Average Sold Price 07–$361,637
Chatham NJ Condo Average Sold Price 08–$319,109
Chatham NJ Condo Median Sold Price 07–$330,000
Chatham NJ Condo Median Sold Price 08–$308,000
Chatham NJ Condo Average Days to Sell 07–81.8
Chatham NJ Condo Average Days to Sell 08–53.9
Chatham NJ Condo Average Size 07–1.5br 1.3ba
Chatham NJ Condo Average Size 08–1.3br 1.1ba
As you can see, Condo prices in Chatham have fallen someplace between 8% and 15% but then again the average size of the condos that have been for sale and selling is smaller in 2008. All of this is consistent with what I have been seeing in all segments of the markets. Lower priced homes, condos, … are selling much better then the higher priced homes. That sounds very simplistic, but what I am trying to say is that a non luxury 2 bedroom condo is likely to sell more easily than a higher priced luxury Chatham Condo.
Condo buyers, this is a great time to be in the market to buy a new home. Keep in mind that the lower the price of the condo you are looking at, the more the demand. I showed a condo in to a buyer today. Their price range is under 300K but they need 2 bedrooms. There is exactly 1 Condo in that matches that requirement.
Thinking about buying a condo in the area, visit the Morris County MLS home search.
Category: Chatham | No Comments »
Best Financial and Real Estate Moves For Post 2008
What Are The Best Financial and Real Estate Moves For Post 2008
This post comes after lots of thought about the financial crisis we have been going through, the bail out of huge financial institutions and now the impending bail out of GM, Ford, and Chrysler. From everything I have heard so far the United States government is spending more than a trillion dollars on all of these bail outs. Will all of this work? We don’t know yet, I am very hopeful that it will, but what is the likely outcome of all this?
The government is spending money that it does not have. The government is printing lots of new money and forcing it into circulation. What normally happens when the government does such things? Inflation, that’s right INFLATION!! Am I talking about 4% inflation, or 6% inflation, or even 8 - 10% inflation, at this point I don’t know, but it seems clear that in the near future we are going to see inflation much higher than we have been used to.
What happens when we see inflation at rates like 6 - 8%? Normally we see things like food, gas, electricity, clothing, and all the other every day items you and I need day to day, going up in price 6 - 8% a year. You also see building materials, and all the raw materials needed to keep the countries economy going, going up in price as well. Eventually you see peoples wages going up at 6 - 8% as well.
What does this mean for the people of New Jersey? It means if you are renting, you are likely to see your rents going up much faster than you have been used to. Rent increases will likely match the rate of inflation which means year in and year out you could see your rent going up 6 - 8%. What does that look like if you are paying $2,000 a month in rent? After the first year your rent moves up to $2160 then the next year too $2330 then the next year too $2520.
Say you buy a home with a 30 year fixed rate mortgage and your mortgage payment is $2000 a month. In the coming years, with rents going up 6% - 8% a year, your mortgage payment stays at $2000 year in and year out. All the time you are paying off your mortgage with cheaper and cheaper money, because after all your money is losing 6% to 8% of its value every year in that situation. Also in a situation such as this, your home is likely staying the same value or going up in value.
What will you see your financial investments doing? If the 1970’s are any guide, you will likely have a great deal of difficulty investing your money and getting a return after taxes and inflation that means anything.
So what is the likely best move for an economy that likely will be dealing with inflation problems for years to come? Invest your money where you live. A home will pay you back over time, many times over. Not only will your payment for the mortgage remain the same over time, you will get a large tax deduction on the interest you pay, and likely over time your home will start appreciating close to the rate of inflation or at the rate of inflation.
All of this is my opinion of course, but if the 1970’s are any guide I think that this situation is more than likely.
James Boyer REALTOR, working the Morristown NJ Real Estate market as well as the Madison NJ Real Estate market, and the Chatham NJ Real Estate market, and the Summit NJ Real Estate. Of course I work the real estate markets of all the surrounding towns as well. If you are thinking of investing your money in a home that will keep your monthly mortgage payment the same no matter what, visit the New Jersey MLS Search where I am sure you will find some very good deals on New Jersey homes for sale.
Category: Chatham, Madison, Morristown, Summit | No Comments »
Home Sellers Are Out Of Touch
Home Sellers Are Out Of Touch With The Real Value Of Their Home, A MSNBC article spells out!!
According to the MSNBC article even today, most home sellers do not understand or have not accepted that home values have declined in most areas. This is true for all of Northern New Jersey, including such desirable towns as Summit New Jersey which has seen a 16.8% decline in the median home sale price. Millburn New Jersey which has had a 15.5% decline, and Chatham New Jersey down 3.4%.
(data from gsmls for the periods April, 1 2007 - November, 1 2007 -vs- April, 1 2008 - November, 1 2008)
I personally have been finding that there are a fair number of home sellers in the area who are out of touch with what home values have been doing over the past few years. In fact I lost a home listing 2 doors down from my home, because I told them the real value their home was likly to sell for, while another REALTOR came in an just told them what they wanted to hear. That number they wanted to hear happened to be $100,000 higher than what I and 5 other very experenced REALTORS in my office agreed the home would likely sell for. This home owner fell for one of the oldest tricks, which is to shoot the home owner a high price, knowing that most home owners will equate the higher price with the skill of the REALTOR. Sorry to disappoint, but anyone can quote a price, it does not make them skilled.
In case you missed it, I really dislike Morris County REALTOR’s who miss lead home sellers on listing price.
Pricing your home too high to begin with, is a major error and costs many home sellers tens of thousands of dollars. Most home sellers still do not understand that the highest price they are going to get for their home is from a offer that is written in the first 2 or 3 weeks on the market. That is when the interest is highest, and when the people who have fallen in love with the home write offers. Price it too high, and you denture those that have fallen in love with the house, and they start waiting for a price reduction. In the mean time they continue to shop for a home. Guess what, they usually find something else that is at least the equal of your home, and write a offer on that.
As a home seller here in Northern New Jersey here is what you should experence if you list you home for the right price to start with. In the busy spring and fall selling seasons you should get 15 to 30 showings within the first 2 weeks your home is on the market. During the slower winter and summer home selling times those numbers will be closer to 7 to 14 showings in the first 2 weeks. If your home is price right to start with you should have a offer which is within 3% of your asking price within 4 weeks of you home being listed for sale. During the slower selling times that offer should be in your hand within 6 weeks of listing your home for sale.
Morris, Essex, and Union County New Jersey home sellers, do yourselves a favor, when interviewing area REALTORS to list your home for sale, do not hire the REALTOR who quotes you the highest list price. That REALTOR is likely the least experenced, and least capable of getting your home sold for the best price possible.
If you would like me to do a real and truthful CMA (Competitive Market Analysis) for your home, I am happy to do so, just give me a call at 973-647-0253 or send me a message including some information about you home such as the address, any improvements you have made to it with the years you did them, and the general condition of your home.
Cheers,
James Boyer
New Jersey REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Specializing in Morris County Real Estate, Essex County Real Estate, Union County Real Estate, Somerset County Real Estate, and Sussex County Real Estate.
Category: Chatham, Summit | No Comments »
The Election Is Over, Now What For New Jersey Real Estate
The Election Is Over, Now What For New Jersey Real Estate
The election has passed, Obama has been elected the next president of the United States of America. I cannot say I was excited by Mr. Obama but I am excited at the prospect of a new beginning. Actually it is not a new beginning, but many people are thinking that way.
At this point I am only guessing but I believe that over the next 6 to 9 months we are going to experience a sence of relief. People are going to be willing to go out and spend more then they otherwise would have, more people here in New Jersey are going to be willing to go out and purchase a home, and all of this will have a moderating effect on the economic downturn that we have been experiencing.
I have been of the opinion that the real estate markets here in Morris, Essex, Union, and Somerset counties of Northern New Jersey, though slow, are stronger than the national real estate statistics that people seem to hang on all the time. Why just this coming weekend I will be showing 3 different clients homes. Some of the homes will be in Morristown and Morris Township, and another buyer will be looking in Summit, Chatham, and Millburn, and yet another buyer will be looking at homes in Harding, Madison, and Chatham.
I am sure that all of these buyers will not be buying a New Jersey home in the next week or two, but I do think that it is incredibly possitive that in November I am seeing home buyers be willing to go out and look at homes with the idea of purchasing one in the near future, if not the next few weeks.
As I have written in previous posts, the Morristown NJ Real Estate market has been very slow over the past few months, along with the Madison NJ Real Estate and Chatham NJ Real Estate markets as well. In general we have seen a slow fall real estate market in most towns along the Midtown Direct New Jersey train line. Much of the slowness can likely be atributed to the financial crisis which we are working our way though.
As I write this the stock market is opening (November, 5 2008) and it looks like we are about to have a huge Obama Rally on Wall Street. I would not be at all surprised to see a huge rally in the bond markets as well, which will help the New Jersey economy, as well as real estate markets such as Chatham, Madison, & Morristown, not just through lower interest rates, but though a strengthening in job prospects, and job security for those who have kept their jobs.
Lets all keep our fingers crossed, It has been said that the issues in the real estate markets have been the main contributing factor in the economic crissis, so as we see improvment in real estate markets, we will see bigger improvment in the nations economy.
James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-647-0253 Direct
973-539-6300 Office
Excellence in New Jersey Real Estate Services Guaranteed!!
Category: Chatham, Madison, Morristown | No Comments »
Chatham NJ Home Sales October 2008
The Chatham NJ Real Estate market experenced a big slow down in the month of October. With only 9 home sales and transfers compaired to Septembers 17 home sales. This big drop was not at all unexpected, what with the big credit crunch we experenced at the end of September and through much of October.
Chatham New Jersey is always a popular town to live in, which you will notice when you look at the actual home sale which I will post below. Chatham NJ, actually Chatham Boro and Chatham Township is two separate towns which are connected. They share the Chatham school district, and some other government services, but are still independent of each other.
Here are the Chatham New Jersey Home Sales for the month of October.
- Chatham Boro 181 WATCHUNG AVE $595,000LP Colonial 3br 2ba $570,000SP 71DOM
- Chatham Boro 5 LINCOLN AVE $699,000 Colonial 4 1.1 $665,000 70
- Chatham Boro 44 TALLMADGE AVE $749,900 Colonial 4 2.1 $749,900 7
- Chatham Boro 25 Meadowbrook Rd $949,900 Colonial 4 2 $920,000 19
- Chatham Boro 31 Inwood Rd $990,000 Colonial 4 3 $975,000 29
- Chatham Twp. 16B Heritage Dr $299,900 OneFloor 1 1 $278,000 88
- Chatham Twp. 47 ORMONT RD $1,149,000 Colonial 5 5.1 $999,900 303
- Chatham Twp. 84 GLENMERE DR $1,250,000 Colonial 5 3.1 $1,235,000 8
- Chatham Twp. 141 Noe Ave $2,750,000 Colonial 5 6.1 $2,525,000 212
If your thinking of looking for a Chatham NJ area home for sale visit Chatham NJ MLS. I also cover the Morristown NJ Real Estate market as well as the Summit NJ Real Estate
James Boyer Chatham NJ REALTOR, 973-647-0253 Direct 973-539-6300 Office
Category: Chatham | 2 Comments »