Archive for July, 2010

I simply cannot believe that it is the LAST Friday in July already!  The summer is half over – wow.  But, let’s not pine over the lost days of summer just yet!  While this may not be the busiest time for most Realtors because many people are away and looking for their dream home isn’t really a priority, all of those spring sales typically close during the summer months. 

July 2010 was no different.  Thirty-five families moved into their “new-to-them” homes this past month.  Follows is a list of those transactions including address, List Price and final Sale Price:

236 Potomac Drive, Spring Ridge  $199,000/$196,500
331 Penns Way, Society Hill  $259,000/$255,000
239 English Place, Society Hill  $259,900/$259,900
197 Alexandria Way, Spring Ridge  $267,000/$257,000
108 Village Drive, Lord Stirling  $324,900/$314,000
80 Village Drive, Lord Stirling  $352,000/$340,000
76 Liberty Corner Rd  $395,000/$320,000
112 Galloping Hill Road  $430,000/$430,000
120 Constitution Way, The Hamiltons  $469,000/$445,000
51 Arbor Circle, The Cedars  $475,000/$460,000
41 Harrison Brook Dr  $499,000/$475,000
5 Clark Court, The Hamiltons  $505,000//$480,000  105
71 Dorchester Drive, The Hamiltons  $514,900/$507,000
16 Goltra Dr  $549,900/$537,000
88 Lyons Road  $599,000/$575,275
301 Mountain Road  $698,000/$651,500
15 Alder Lane, The Hills  $729,000/$715,000
56 Dickinson Road, Amherst Mews  $769,900/$760,000
1 Springfield Lane, Amherst Mews  $774,900//$755,000
47 Fairview Drive South  $784,500/$784,500
18 Whitetail Lane, The Hills  $839,000/$795,000
7 Barton Way, Amherst Mews  $840,000/$826,000
3 Barton Way, Amherst Mews  $849,900/$800,000
5 Johnston Circle, The Hills  $859,000/$820,000
44 Kinnan Way  $899,000/$890,000
14 Grove Road  $919,000/$929,000
52 Sentinel Drive, The Hills  $995,000/$1,024,999
8 Culberson Road  $999,999/$958,000
85 Governor Drive  $1,065,000/$1,060,000
52 Deer Creek Drive  $1,100,000/$1,020,000
26 Deer Creek Drive $1,199,000/$1,045,000
8 Rachel Court, Prince Edward Point  $1,239,000/$1,251,188
3 Deer Ridge Road  $1,499,000/$1,390,000
70 Morgan Lane  $1,739,000/$1,575,000
66 Emerald Valley Lane, new construction  $2,275,000/$2,175,000

Although the blog has been quiet, I have been quite busy as has the industry – we have had resolution on a few issues including the extension of the tax credit, some changes to flood insurance requirements and the defeat of a state bill that would require a tax on seasonal rentals.  As for me, I have been working with Gerry and Judy on several rental transactions, two new listings (one in Bernardsville and one in Basking Ridge), and many closings (I have three next week and I had two this past week).  I am working with a lovely young couple hoping to find their first home in Basking Ridge, I am managing my current listings and negotiating inspection issues for a current seller.  I just haven’t been blogging – because when I’m not working, I’m spending time with my kids and I will say that this has probably been one of my best summers yet!  I’m sad for it to end – so we won’t talk about that yet.

If you are wondering if now is the time to buy, there is no doubt in my mind that there are some great deals out there.  So take a look at the website to search Homes for Sale in Basking Ridge or make an inquiry to find the value of your home.  I’m happy to help!

Free Admission

Residents of the community are invited to join Bernards Township Parks and Recreation for the best night of the summer!  The Rec camp staff will be providing an evening of family fun at Harry Dunham Park.  This year’s event will include family activities, relays, an interactive DJ, and carnival games.

The Basking Ridge and Liberty Corner Fire Companies will be selling italian ices and the night is topped off with the showing of “Charlotte’s Web” (G) at 8:45PM, so bring a blanket to enjoy the film outdoors under the stars!

My kids are thrilled for this activity – and will be attending with dad as I will be out showing houses!!  It’s a really great time to consider buying a house as interest rates are as low as they’ve been since 1971!  An interest rate under 5% really does a lot for buying power.  So, if you are considering a move into or out of Basking Ridge, please contact me today for more information.

I just answered a question on Trulia and it was awarded “Best Answer” status!

Q. How would investing in landscape/hardscape compare in resale value to fireplace, room addition, remodeled bath, remodeled kitchen or 2nd bath?

A. Keep in line with the community especially if you expect to move soon or are simply doing the work for resale. Remember too, that this is your HOME, not just an investment. If you have the money and expect to use the addition or the beautiful patio or the fireplace, then there is a value to the benefit of the enjoyment of whatever it is you decide to do. If you end up selling and expect to recover every dollar you put into the renovation, then you will be disappointed. Check out the cost vs value report for renovations and improvements on realtor.com for some realistic guidelines and have your expectations set correctly.

I honestly believe that many people have lost sight of the American Dream – so many people look at their home solely as an investment rather than a safe haven.  I’ve seen people pass over a home that they love and purchase the one down the street because they felt they could get a better deal.  I’ve heard people say, “I liked that one better, but I can get a better deal on this one” – and really, we aren’t even talking about that big a difference.  I could understand that statement if it was, “I like that one better, but the other one is more affordable”… but that’s not what I’m hearing.  Isn’t there value that can be associated with finding that perfect house?  The one where you can feel at home?  Raise your kids, or take that much needed break from the outside world?  Think about it… your home is your castle!

If you are consdering a move into or out of Basking Ridge, I can help.  Do you need an estimate of your home’s value in today’s market?  Be notified of new listings in and around Basking Ridge.  Or track last month’s Basking Ridge sales.

I look forward to helping you find your dream home – and to helping you get the best value for the home you love, as opposed to getting the home you don’t love because you feel it’s a good value.

Tuesday night concert series – Pleasant Valley Park – tonight at 7:00 – Raritan Valley Symphonic Band

Next week – Jimmy & the Parrots – I will be there!

July 20th – 52nd Street Band

July 27th – Beatlemania Again

I love Bernards Township Parks and Recreation summer events!

On Friday, July 2, President Obama signed two important pieces of legislation into law to help homebuyers.

The first one extends the closing deadline for the homebuyer tax credit until September 30, 2010, for any transactions that had ratified contracts in place as of April 30, 2010, but did not close by the June 30, 2010, deadline. The legislation creates a seamless extension, and therefore, there will be no gap between June 30 and the date the President signed the bill into law.

Due to the high volume of home sale transactions that needed to be closed by June 30, there were up to 180,000 homebuyers who were eligible for the tax credit, but were unable to close before the deadline. The extension will enable the majority of these home sales to close, and for the buyers to receive the tax credit.

In addition, the National Flood Insurance Program, which provides flood insurance to homeowners in participating communities in flood-prone areas who could not otherwise obtain coverage due to cost or ineligibility, was also extended until September 30, 2010. As a result, buyers in these areas can now obtain mortgages and transactions can move forward. This bill is retroactive and covers the lapse period from June 1, 2010, to the date of enactment of the extension.

In local news – 20 Old Coach Road closed last week for $850,000.   There were 39 closings during the last 10 days of June, 34 of these were under $800,000 and therefore likely qualified for the tax credit.  There were 20 contract sales – proving (to me anyway) that the market in Basking Ridge is still moving!  Inventory levels are under 5 months – a relatively balanced market.  If you are considering a move into or out of Basking Ridge, I’m happy to help.  Start with a search for available townhouse or condos or single family homes - you can search by price range.