Archive for June, 2010

Both of these properties received quite a bit of attention when I first listed them so I thought I would post their closing information.

161 Thackeray Drive listed on 5/27 for $499,000 had several offers and closed on 6/16 for $490,000 – this transaction was relatively smooth although we ecountered several inspection issues which required additonal negotiations. 

32 Coppergate Drive listed on  2/15 for $549,000 had several offers and closed on 6/23 for $528,000.  This property had two inspections – relatively painless negotiations in that regard, but the buyer changed mortgage companies at some point during the deal and the closing was delayed by over a week because the second mortgage company over-promised and under-delivered! 

I wish I could post pictures, but wordpress is acting up and I can’t access my media library.

Tomorrow’s featured open house is at 36 Kensington Road – from 1:00-5:00 – a beautiful center hall colonial with a great yard and a perfect kitchen. 

If you are considering a move into or out of Basking Ridge, visit my website to track what sells in town or to search properties for sale.  I can also help determine the value of your current Basking Ridge home.

We expected there to be lots of closings in June as a June 30th closing date had to be met to qualify for the tax credit.  However, there is talk now of extending that deadline - not to qualify, but to get closed if you already have qualified.  I will definitely post again when we get that information sorted out.

30 Peachtree Road   LP:$649,000 SP:$588,000 Homestead Village 
47 Huntington Rd   LP:$699,000  SP:$675,000  Carlisle 
41 Mayflower Drive   LP:$529,900  SP:$518,000 Hamilton Crest 
82 Queen Anne Dr LP:$1,270,000  SP:$1,210,000   
194 Jamestown Rd  LP:$294,900  SP:$290,000  Society Hill 
47 Baldwin Court   LP:$265,000  SP:$256,000  Society Hill 
41 Smithfield Court   LP:$245,000  SP:$230,000  Spring Ridge 
253 Penns Way LP:$319,900  SP:$315,000  Society Hill 
21 Harrison Brook Dr    LP:$645,000  SP:$610,000   
62 Alder Lane          LP:$748,800  SP:$727,000  Carlisle 
140 Bayberry Row   LP:$375,000  SP:$366,000  The Cedars 
8 Countryside Dr   LP:$349,900  SP:$335,000  Countryside 
6 Washington Ave LP:$805,000  SP:$782,500  
323 Old Army Road   LP:$1,100,000  SP:$1,250,000  
20 Pitney Court  LP:$1,199,000  SP:$1,180,000   
281 Douglas Road   LP:$685,000  SP:$660,000   
149 Jamestown Rd   LP:$247,500  SP:$235,000  Spring Ridge 
161 Thackeray Dr   LP:$499,000  SP:$490,000   
246 Penns Way           LP:$310,000  SP:$295,000   
42 Old Farm Road LP:$1,395,000  SP:$1,300,000   
146 Patriot Hill Dr   LP:$649,000  SP:$630,000  Hills/Basking Ridge 
400 S Maple Ave   LP:$439,000  SP:$430,000   
76 Vanderveer Dr   LP:$1,175,000  SP:$1,165,000  Revere Hill 
162 Patriot Hill Dr   LP:$615,000  SP:$600,000  Patriot Hill 
105 Landau Road   LP:$815,000  SP:$815,000  Carlisle
8 Gold Blvd    LP:$775,000  SP:$756,500   
7 Goltra Drive  LP:$705,000  SP:$680,000  
21 Raleigh Court   LP:$514,000  SP:$520,000  Hamilton Crest 
139 Jamestown Rd   LP:$219,900  SP:$212,500  Spring Ridge
 
For more information on any of these fine Basking Ridge homes, visit www.Basking-Ridge-Real-Estate.com and use the contact Jennifer link to inquire.

Sought-after community in Basking Ridge; a Liberty Corner School community; a traditional five bedroom center hall colonial with a kitchen that is to die for! 

Will be listed on Monday, and there will be an open house next Sunday, June 27th from 1:00 to 5:00.

Interior photos, and maybe a video, will follow before the end of the weekend.  If you register for listing alerts, you will receive notification when this comes on the market!

Update: I wanted to add photos of the gorgeous kitchen, but WordPress isn’t cooperating with me; I promise to do so as soon as it’s working again.  Have a Happy Father’s Day!

Do you have questions about today’s real estate market? 

Email me now to reserve a seat at our upcoming “Real Estate Market Update” Seminar

This month’s seminar is scheduled for Saturday, June 19th at 11am.

Can’t make it?  That’s okay, you can still get started by searching available homes in Basking Ridge.  I can also send you listing alerts – monitor the market directly from your inbox!

43 Village Drive has been reduced to $349,990 – Great LOCATION and PRICE for this must-see end-unit which features new carpet and gleaming new Pergo in the living room and dining room.  This model features a private patio and unique built-ins in the master bedroom and book cases in the den.  A must-see that is currently the BEST two bedroom value in town.

Contact me directly for more information or a tour of the townhouse.

Spectacular View

Gleaming Pergo Floors
 

Amanda said I haven’ t been blogging lately – and she’s RIGHT!  I’ve been swamped which is a really good thing, right?!  Tonight the Girls on The Run group from the YMCA is running in the Flag Day 5k at the Y on Mt. Airy Road – and I am joining my daughter to run!  The girls have been working really hard and are very exciteded (and a little nervous) to be running in a REAL road race!

This morning I passed the Township Fire inspection for one of my listings that is scheduled to close next week.  While I always make sure my sellers know what is needed for this inspection and I often schedule it for them, it is good to know what is required – because most people are totally surprised when I tell them.

You need to have a smoke detector on every level of the home; you need a carbon monoxide detector on every level where there is a bedroom and it needs to be within 10 feet of the bedroom door.  You also need a fire extinguisher hung in the kitchen.  Email me and I will send you the document from the Bernards Township code enforcement department.

I just answered a question on Trulia Voices:

The question was:  How much “wiggle room” do you typically have on an asking price?…I am looking at a NJ home asking $320,000 which seems pretty accurate according to my realtor. But it’s in a flood zone and had water just 3 years ago according to the owners disclosure. Whereas the comps are not in a flood zone, but lack some of the upgrades (partially finished basement, all appliances included, hardwood floors). My mortgage pre-approval is only for $300k. Should I not even be considering this home or is it possible that there is enough room to play with?

My answer was this, “you won’t know how much wiggle room there is until you make an offer. The list price is only half the game (if that, given that we are still essentially in a buyers market even if we are recovering). Figure out the value to YOU, put it in writing and start a discussion.” 

I also added this, “If I may add my $.02 though…. reading between the lines of your question – this probably isn’t the right house for you. I just have a hunch, I always counsel my buyers in this way – if you have doubts, move on….”

I honestly believe in the “you will know when it is right” line of thinking.  You feel it, you just do.  If  you walk into a house and you don’t “feel it”, it’s probably not the right house.  If you have to post on the internet to ask if a house is worth it, then it’s probably not the right house.  If you make an offer and it is accepted and you have second thoughts and start hoping it will fall apart – then it’s probably not the right house. 

If you make an offer and it is accepted and you are so excited that you can’t sleep and you ask your agent a million questions to make sure you do everything right so nothing goes wrong and messes up the deal…if you have jitters and alternate between being so excited and wanting to throw up, then it’s probably the RIGHT HOUSE! 

Just ask Scott and Kathy – - they know the difference!!

I’m more than happy to help you find the right house; start your search in Basking Ridge by visiting my website to see what has sold recently or to sign up for listing alerts.

Today’s open houses in Basking Ridge will be hosted between 1:00 and 5:00 at 43 Village Drive in Lord Stirling Village and 50 Church Street in Basking Ridge.

Both properties have recently been repositioned in the market, providing excellent value for the discerning value.  43 Village Drive is being offered at $358,900 – a price much lower than the last sale and a definitely bargain for someone who likes fresh paint and gleaming hardwood floors!  50 Church Street is being offered at $479,999 – where else can you buy over three quarters of an acre backing to farmland with an adorable home featuring a wrap-around front porch, a huge shed a detached garage and a walk up attic?

Come out today and talk to me and Carol about why it’s a great time to buy a home!

There were seven closings here in Basking Ridge during the first week of June:

47 Baldwin Court, Society Hill condo, List price $265,000, Sale Price $256,000
8 Countryside Drive, Countryside Manor townhouse, List price $349,900, Sale price $335,000
30 Peachtree Road, Homestead Village, List price $649,000, Sale price $588,000
146 Patriot Hill Drive, townhouse, List price $649,000, Sale price $630,000
7 Goltra Drive, List price $705,000, Sale price $680,000
323 Old Army Road, List price $1,100,000, Sale price $1,250,000
42 Old Farm Road, List price $1,395,000, Sale price $1,300,000

There have been 38 contract sales in the last 30 days and there are currently 231 homes available in Basking Ridge.  This calculates to an inventory level of six months which is a relatively balanced market.

I am finding that home sale contingencies are becoming more popular; in fact, I have been involved in several recently.  Each deal is structured a little differently, but essentially allows for the same thing:  a purchaser who intends to use the proceeds from the sale of their home to complete their purchase.  This is a classic problem for most move-up buyers and many downsizers.  As we have worked our way through this challenging market, more sellers are willing to consider contracts that are contingent upon the sale of the purhcasers current residence.  However, a property is considered to be Under Contract when Attorney Review has been completed per the attorneys involved, and the real estate commission requires that this status be fully disclsosed to all parties viewing the property.  In the past, this meant that the listing status had to be changed to UC (under contract) and the listing was removed from the public eye – essentially defeating the purpose of the “continue to show” clause.  The MLS has created a new status to accomodate this scenario.  It is called “US” and instead of UC for under contract.  This new status does NOT remove the listing from third party sites – it still stays active and can easily be shown until all contingencies are met.

In other news – don’t miss the Liberty Corner Fire Company’s 8th Annual Comedy Night on Saturday evening, June 5, 2010 in the ballroom of the firehouse at 95 Church Street at 8:00 (wine and beer bar opens at 7:00).  Tickets can be purchased at the door for $45 – attendees must be 21 or older.