Archive for the ‘Basking Ridge Community Information’ Category
April Closings in Basking Ridge
May 6th, 2010 | 
Author: Townhouses and condos:
Address, Development/List Price/Sale Price
92 Potomac Drive/Spring Ridge/$240,000/$220,000
90 Jamestown Road, Sprng Ridge/$254,900/$252,450
13 Witherspoon Lane, Amherst Mews/$830,000/$807,000
16 Fairbanks Lane, The Barons/$539,000/$520,000
215 Alexandria Way, Spring Ridge/$250,000/$236,000
102 Woodward Lane, Society Hill/$259,000/$247,000
1 N Dexter Drive, The Barons/$499,900/$450,000
3 Charleston Court, The Hamiltons/$489,000/$465,000
93 Sycamore Court, The Cedars/$380,000/$375,000
126 Alexandria Way, Spring Ridge/$247,000/$240,000
22 Hancock Court, The Hamiltons/$584,900/$570,000
265 Penns Way, Society Hill/$320,000/$309,000
35 Cannon Court, The Hamiltons/$539,000/$525,000
15 Commonwealth Drive, Spring Ridge/$259,000/$246,000
89 Smithfield Court, Spring Ridge/$242,900/$228,000
333 Penns Way, Society Hill/$325,000/$312,500
21 Prescott Court, The Hamiltons/$469,999/$471,000
Search available townhomes and condos in Basking Ridge
Single Family Homes:
Address/List Price/Sale Price
489 King George Road/$650,000/$625,000
234 Irving Place/$245,000/$240,000
9 Caldwell Court/$1,299,000/$1,258,500
31 Ridge Street/$499,000/$450,000
33 Summit Drive/$1,030,000/$990,000
117 Fieldstone Drive/$750,000/$732,500
27 Shepard Way/$619,000/$625,000
21 Martinsville Road/$719,900/$650,000
10 Butternut Lane/$1,800,000/$1,625,000
47 Addison Drive/$849,900/$829,000
32 Berkeley Circle/$829,900/$820,000
29 Alder Lane/$579,900/$581,000
47 Clairvaux Court/$1,425,000/$1,360,000
29 Penwood Road/$780,000/$780,000
Search available single family homes in Basking Ridge.
Mark your calendars for our next Market Seminar which will be held on Saturday, May 22nd. Stay tuned for more details.
Basking Ridge – School Budget
As you know, the Bernards Township school budget was defeated. The Township Committee is now reviewing the budget and will let the School Board know the dollar amount that will need to be cut. If you have any feelings concerning the budget, it is suggested that you email the Committee to voice your concerns and opinions.
Their address is: townshipcommittee@bernards.org
April Market Activity
This past week was fabulous for real estate sales. According to the National Association of Realtors (NAR), sales of existing homes rose 6.8 percent in March and were 16.1 percent above the sales pace in March 2009.
NAR Chief Economist Lawrence Yun is encouraged to see a broad recovery in home sales. Two important trends he notes are that “sales have been above year-ago levels for nine straight months, and inventory has trended down from year-ago levels for 20 months running.”
In addition, the Commerce Department announced that sales of new homes surged 27 percent last month, well exceeding expectations. In fact, March was the strongest month since last July, and saw the largest monthly increase in 47 years.
It is clearly a great time to purchase a home, and there is still a small window of opportunityto take advantage not only of the boisterous market, but also a federal homebuyer tax credit. In order to claim the $8,000 tax credit for first-time buyers or the $6,500 tax credit for repeat buyers, one needs to enter a binding contract to purchase a home by April 30, and close the transaction by June 30.
There have been 47 contract sales in Basking Ridge since April 1st (compared to 30 for the same time period last year). The following properties have closed so far this month:
92 POTOMAC DR $240,000/$220,000, Spring Ridge
234 IRVING PL $245,000/$240,000, Spring Ridge
215 ALEXANDRIA WAY $250,000/$236,000, Spring Ridge
90 JAMESTOWN RD $254,900/$252,450, Spring Ridge
3 CHARLESTON CT $489,000/$465,000, The Hamiltons
31 RIDGE ST $499,000/$450,000, Single Family
16 FAIRBANKS LN $539,000/$520,000, The Barons
27 SHEPARD WAY $619,000/$625,000, Single Family
489 KING GEORGE RD $650,000/$625,000, Single Family
21 MARTINSVILLE RD $719,900/$650,000, Single Family
117 FIELDSTONE DR $750,000/$732,500, Single Family
13 WITHERSPOON LN $830,000/$807,000, Amherst Mews
47 ADDISON DR $849,900/$829,000, Single Family
33 SUMMIT DR $1,030,000/$990,000, Single Family
9 CALDWELL CT $1,299,000/$1,258,500, Single Family – The Hills
10 BUTTERNUT LN $1,800,000/$1,625,000, Single Family
There were 81 new listings this month (compared to 60 for the same time period last year). And there are 80 properties expected to close between now and the end of June.
If you are considering a move into or out of Basking Ridge, now might be the time to do it! Please contact me for information on the value of your home or to receive notification of new listings – condos, town homes or single family properties!
Basking Ridge Market activity – NAR info too
According to the National Association of Realtors, the Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 8.2 percent from January. The index remains 17.3 percent higher than it was in February 2009.
“The rise in buyer contract activity may signal the early stages of a second surge of home sales this spring,” said Lawrence Yun, NAR chief economist. “Anecdotally, we’re hearing about a rise of activity in recent weeks with ongoing reports of multiple offers in more markets, so the March data could demonstrate additional improvement from buyers responding to the tax credit.”
Here in Basking Ridge, there have been nine contract sales since April 1st, and 21 new listings (price range $238,000 to $1,600,000). Four properties have closed so far this month:
92 POTOMAC DR, Spring Ridge condo listed for $240,000, sold for $220,000
234 IRVING PL, Society Hill listed for $245,000, sold for$240,000
489 KING GEORGE RD, single family, listed for $650,000, sold for $625,000
9 CALDWELL CT, The Hills, listed for $1,299,000, sold for $1,258,500
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 on Saturday, April 10th at 11am. We will have an attorney, a mortgage rep and my broker on hand to answer questions about the market, the process and the tax credit.
This week’s sales in Basking Ridge
Seven properties went under contract this past week in Basking Ridge.
For more information on any of these properties, please contact me directly or search for more Basking Ridge homes for sale. You can also review closed sales in Basking Ridge.
Did you know… Pride in Our Parks
Pride in Our Parks & Pathways Day is an event created by the Department of Parks & Recreation and the Recreation, Parks & Pathways Advisory Committee to build community pride through volunteer service and promote awareness of Township parks and pathways.
This year’s event will focus attention on the various open space properties throughout the Township recently acquired for passive recreation and established parks with walking trails and nature access.
Brief presentations with information on the history, acquisition and property features will be conducted at the properties below at 1PM, 1:30PM, 2PM & 2:30PM.
Contact me for more information!
Our newest parks:
Whitenack Woods – Entrance and parking located on Mine Brook Road
Sons of Liberty Farm & The English Family Woods – Entrance and parking located on Allen Road
Farmstead Park & the Passaic River – Entrance and parking located on King George Road
Mountain Park Walking Trails – Entrance and parking located off Martinsville Road and Mountain Road
A bus tour will also be available at 1PM and 2PM, departing from Town Hall at 1 Collyer Lane, Basking Ridge. The tour will highlight properties such as Schmidt Park, the Dead River Trail, and McCollum Farm.
Basking Ridge School Budget Woes
As you know, Governor Christie announced his budget message last week. This included massive changes to school budgets throughout the state. Bernards Township is losing $4 million for next year and an additional $1.6 million this spring. As in past years, we are once again looking at changes including partial-day kindergarten, modified enrichment programs and an eight period day at the high school. The final budget to be presented to voters is due on March 31st – that’s coming up soon! There are two school board meetings between then and now: March 24th and March 31st, both will be held at Oak Street School at 7:00pm. For more information you can read the memo from Valerie Groger, Bernards Township School Superintendent.
New Listing – Liberty Corner
It might have been a snow day for some, but I was busy listing another home! This property is a vintage colonial in the heart of Liberty Corner. It features chestnut molding and pine floors - a walk up attic with plenty of space for storage. It has been wonderfully maintained and features many current amenities, including a new roof (2004), a gas fired cast iron stove in the family room addition and a finished 12×20 shed in the back yard. The yard is just under an acre and backs to Liberty Corner’s English Farm. I will be hosting an open house this weekend, Sunday, February 14th from 12:00-4:00, stop by for a visit, view this wonderful home and we can discuss what’s happening in the local market.
If you are considering a move into or out of Bedminster, Basking Ridge or any of the surrounding areas, please contact me directly – selling homes is what I do best!
Basking Ridge Weekly Market Activity
There were 18 new listings in Basking Ridge this past week: several Spring Ridge and Society Hill townhouses and condos, a condo in The Cedars, a townhouse in Maple Run, two townhouses in The Barons, a townhouse in The Ridge and several townhouses in the Hills. There were only three single family homes listed – a re-listed cape cod at $455,000, a re-listed bi-level at $525,000 and a relisted new construction home in the Tall Timber community priced at $2,289,000.
There were 7 contract sales.
Market Absorption in Basking Ridge is currently 7 months; there are 161 available properties and there have been 23 contract sales in the last 30 days.
A word from Weichert about the home buyer credit and how it is impacting the market:
“The real estate market continues to show improvement as mortgage rates remain at historic lows and consumers respond to the tax credits for first-time and repeat buyers. In fact, the National Association of Realtors (NAR) just announced that its Pending Home Sales Index rose 1 percent from November.
A forward-looking indicator based on contracts signed in December, the index is now 10 percent above December 2008. What’s more, December activity was the fifth highest monthly tally in two years. A sale is listed as pending when the contract has been signed but the transaction has not yet closed. Because sales usually are finalized within one or two months of signing the contract, this improvement should result in higher home sales in the coming months.
According to Lawrence Yun, NAR chief economist, existing home sales are projected to rise to around 5.6 million in 2010, an 8.5 percent increase over 2009. As sales rise and inventory levels decline, housing wealth for many middle class families will stabilize.”
To get started on your home search visit my website to view all homes for sale in Basking Ridge. I can also help you get an idea of the value of your Basking Ridge home.
Posted in Basking Ridge Real Estate Information, Basking Ridge Townhouses, New Listings | 
Tags: market activity | 
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Just Listed – Basking Ridge town house
This beautiful town house in Lord Stirling Village was listed today. A Chandler model, it boasts a private patio and a first floor den. Freshly painted, newer first level laminate flooring and new carpet upstairs – this one is a winner! Contact me for pricing and appointments.
If you are considering a move into or out of Basking Ridge, don’t miss the Basking Ridge Real Estate website – it is full of information on recent sales and new listings.