Archive for September, 2009

In July, the National Association of Realtors (NAR) Pending Home Sales Index rose to the highest level since June 2007. Not only was the number of homes pending sale up from June, the index was also 12 percent higher than the same month last year.

Pending home sales are a good indicator of the future pace of existing-home sales, since they reflect the number of contracts that were signed to purchase a home. Once under contract, most of these pending sales become actual sales within the next two to three months.

In fact, NAR Chief Economist Lawrence Yun expects existing-home sales to rise through the fourth quarter of this year due, in part, to the $8,000 first-time buyer tax credit and high housing affordability. He said, “The buyer psychology may be shifting from ‘Why buy now when I can purchase later?’ to ‘I don’t want to miss out on a recovery.’”

If you are thinking about buying or selling a home in Basking Ridge, contact me today for all of your Basking Ridge real estate needs or visit my website to search what is currently for sale in and around Basking Ridge, NJ.

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8/29/09-9/4/09

The following 4 properties went under contract this past week in Basking Ridge. A little bit of a dip which makes complete sense given the end of the summer season!

37 Woodward Lane, Sociey Hill Townhouse, $304,900, DOM 56
7 Tysley Street, Single Family Home, SHORT SALE, $439,000, DOM 212
36 Hill Top Road, Single Family Home, $450,000, DOM 14
1 Richmond Drive, Patriot Mews Townhouse, $675,000, DOM 196

There are an additional 15 properties that are working through attorney review.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate website for more information on what has sold each month over the past year.

New to the Basking Ridge market are the following 10 properties:

107 Potomac Drive, $219,900, Spring Ridge Condo
25 Baldwin Court, $239,500, Society Hill Condo
156 Irving Place, $241,000, Society Hill Townhouse
58 Commonwealth Drive, $274,900, Spring Ridge Condo
193 Irving Place, $329,000, Society Hill Condo
129 Village Drive, $383,000, Lord Stirling Village Townhouse
16 Fairbanks Lane, $548,000, The Barons Townhouse – one floor living
43 Cannon Court, $699,000, Hamilton Ridge Townhouse – completely updated
2 Hartley Lane, $799,999, Single Family Home in the Hills
19 Morrison Street, $920,000, Single Family Home

As of this morning there a total of 203 listings showing active in Basking Ridge in the MLS. With 41 going under contract in the last 30 days, Basking Ridge market absorption is 4.95 months -not much different from last week, which again, makes sense given the season.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge website to sign up for listing alerts in and around Basking Ridge.

Have a wonderful Labor Day weekend, the weather is supposed to be gorgeous!

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Did you know that you should NOT use flourescent light bulbs with dimmer switches?  Not only does it burn them out faster (three bulbs in one week – according to the homeowner who called the Liberty Corner Fire Company this evening)…but it is a potential fire hazard!  My husband, a firefighter with the Liberty Corner Volunteer Fire Company in Bernards Township, came home from a call and said, blog it: Energy saving flourscent bulbs (the energy efficient curly ones as well as the straight tube ones) can be a fire hazard when used with dimmer switches.

Contact me for more information on fire safety or Basking Ridge Real Estate!  

If you are thinking about buying or selling a home visit my website to search what is currently for sale in and around Basking Ridge, NJ.

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