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Chatham NJ Homes For Sale, The February 2009 Sold Report
By admin | March 4, 2009
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 Responses to “Chatham NJ Homes For Sale, The February 2009 Sold Report”
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March 11th, 2009 at 10:37 am
You are right; though it is sad to see homeowners that aren’t able to get their desired asking price, if they are getting into financial trouble and still refusing to lower their price, a low offer could be just the wake up call they need. Getting that low offer might make them accpet the fact that they just can’t get the high price they feel they should in the current market.
March 17th, 2009 at 9:44 am
I am optimistic about this year, also. The economic crises didn’t happen overnight, recovery will be a slow steady process. Everyone will have to make adjustments.
March 18th, 2009 at 12:19 pm
i agree about the 15% after a home has been on the market for 3 months or more. Seller needs a wake up call.
March 18th, 2009 at 3:40 pm
I was just going though the comments for this blog post, and found one by a poster calling him or her self chathammer with a e-mail @chathammer.org I guess implying that he/she was is from Chatham New Jersey or has a in-depth knowledge of the Chatham NJ Real Estate market. In any event, I wanted to say that I do not publish blog comments, possitive or negative from posters who don’t use their real e-mail address.
This means that Chathammer’s comment was deleted.
March 30th, 2009 at 12:01 am
Our economy is also suffering, since we are tied in so closely with yours. But I also am optimistic that things will be better in a year after some of the consumer confidence starts to come back.
April 14th, 2009 at 12:51 pm
Even in good times overpricing can be a killer. Some sellers simply will not budge. Hence the number of expired and withdrawn properties.