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Morristown NJ Home Sales December 2008
By admin | January 1, 2009
Happy New Year from wonderful and historic Morristown New Jersey 07960
Today we are going to talk about the the Morristown NJ Real Estate market as well as the December home sales for Morristown NJ.
December was yet another fairly slow month for home sales in Morristown, we had 5 home sales in December of 2008 as compaired to 9 home sales in December of 2007. I would tend to bet that a good part of that slowdown is directly attributable to the mortgage credit crunch we had been experiencing since September.
There does seem to be a fair amount of pent up demand for housing in Morristown NJ, the only question is when will more of it begin to be released.
Morristown NJ Home Sales December 2008
Morristown 104 WESTERN AVE $179,900LP Colonial 3br 1ba $179,900SP 19DOM
Morristown 28 PHOENIX AVE $199,900LP Colonial 2br 2ba $216,000SP 47DOM
Morristown 54 Budd St $299,000LP Cottage 2br 1ba $285,000SP 28DOM
Morristown 11 LAKE RD $309,000LP Victorian 3br 3ba $300,000SP 140DOM
Morristown 7 Mackenzie Road $500,000LP Colonial 3br 2ba $460,000SP 152DOM
Interestingly 104 Western Ave Morristown was sold as a foreclosure bank owned property, needing a complete rehabilitation.
28 Phoenix Ave Morristown was also sold as a foreclosure bank owned property, needing some rehabilitation. This home actually was a 4 bedroom 3 bath home needing some rehabilitation, such as a kitchen, some drywall work, and lots of cosmetic improvement.
11 Lake Rd Morristown was sold as a short sale. One of the few short sales that actually goes through to completion. This home was fairly nice, only needing cosmetic improvements for the most part.
54 Budd St Morristown was a Morristown NJ Flip. It had been purchased in June of 2008 for $180,000 needing complete rehab. After 4 months of rehab work, this home was re-listed and sold for $285,000. Looks like the home flipper probably made a nice profit and goes to show you that even in the current real estate environment, Morristown NJ Real Estate can be a very good investment.
James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Morristown NJ Real Estate | Morristown NJ REALTOR | Morristown NJ Flip | Morristown NJ Home Sales | Morristown NJ Foreclosure
Category: Morristown |
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