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!

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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.

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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!

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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.

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

Spectacular View

Gleaming Pergo Floors
 

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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.

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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!

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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.

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I also want to point out that existing-home sales rose again in April with buyers motivated by the tax credit, improving consumer confidence and favorable affordability conditions, according to the National Association of Realtors (NAR).  Sales of existing single-family homes, townhomes, condominiums and co-ops increased 7.6 percent in April, and are 22.8 percent higher than the pace in April 2009. In the Northeast, existing-home sales surged 21.1 percent and are 41.6 percent higher than a year ago. The median price in the Northeast was up 2.1 percent from April 2009.

If you are considering a move into or out of Basking Ridge, this is a great time to do it.  Affordability is at an all time high thanks to stabilized prices and low interest rates.  And our unsold inventory is shrinking – this helps sellers as less inventory leads to a bigger buyer pool for each property.  Search Basking Ridge houses and townhouses for sale on my website.

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Charter Day, Saturday, 5/15

Don’t miss what promises to be a terrifc day – the weather is forecasted to be great too!

LCFC Spaghetti Dinner, Saturday, 5/22 – Spaghetti Dinners are back at the Liberty Corner Fire House! Join us for spaghetti with meatballs, Italian bread, salad, beverage, coffee and dessert. Prices are $10 for adults, $8.00 for seniors, $6 for children 5-12, and children under 5 are free. Takeout is also available for $10 each. Proceeds benefit the Liberty Corner Fire Company.  At the Firehouse, located at 95 Church St in Basking Ridge at 5:00pm

If you are considering a move into or out of the area, take a look at what is currently for sale in Basking Ridge or view recent sales in Basking Ridge to get an idea of the values of homes in town.  Don’t hesitate to contact me directly for more information about these events or about our town.

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