Archive for the ‘Basking Ridge Real Estate Information’ Category
Bernards Township – Full Day Kindergarten Saved!
May 26th, 2010 | 
Author: As reported over at the Basking Ridge Patch, several things that had been up for cuts have been saved by the implementation of other – hopefully less impacting – eliminations. Many people with younger children are very relieved that full day kindergarten has been saved, the third and fourth grade strings program has been spared and each of the elementary schools are going to be able to keep their assistant principals. Don’t forget that Forbes has named Bernards Township schools to the list of “The Best Schools for Your Housing Buck“; many were concerned that this year’s defeat of the school budget would impact our position as a phenomenal school district. I don’t think we have to worry about that.
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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April Closings in Basking Ridge
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.
The cutest house in town!
This house is absolutely the cutest house in town, everyone says so, and it could be yours! 50 Church Street in Liberty Corner is a terrific house – and at $499,000 it’s an excellent value. 
The wrap-around porch is like another room in the spring and summer time. The 20×40 shed offers so much extra space!
The walk-up attic could be finished for a fourth bedroom, a master suite, a playroom or an office. The back yard is to die for – very deep, backing to preserved farm land: it’s private!
It has a beautiful deck, a family room addition and a sizable formal dining room which has access to the porch.
The current owners are gardeners – they have cared for this property like no other and if you buy it now you could be enjoying fresh cherries from your tree by summer!
At $499,000 this is a GREAT value!
Three bedrooms, one and a half baths, basement, living room, dining room, kitchen and family room. Located close to schools, shopping and public transportation.
Visit www.50ChurchStreetLibertyCorner.com for more photos of the interior of this fine home.
Contact me today for an appointment and this house could be yours before summer!
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!
Open Houses – Sunday, April 25th
Please visit the following open houses today:
57 Dogwood Terrace, Millington – $839,900
50 Church Street, Liberty Corner – $499,000
1502 Bayley Court, Bridgewater - $409,000
If your attorney is quick, you can make an offer today or tomorrow and still be under contract by Friday – in time to qualify for the First Time or Repeat Buyer tax credit!
Are you thinking about making a move into or out of Basking Ridge, Bedminster or Bernardsville? I’m happy to help. Contact me today for information about properties available in any of these towns or the surrounding areas. I’m also happy to help you understand the value of your home in today’s market. Feel free to follow any of these links for more information.
Have a great Sunday!
Open Houses – Sunday, April 18th
I will be running in the Rutgers CGI United Half Marathon this weekend, but many of my listings will be held open in the afternoon, hosted by my colleagues.
Please come visit one of the following properties:
38 Harcourt Lane: 1:00-5:00
32 Coppergate Drive: 1:00-4:00
If you are considering a move into or out of Basking Ridge, it’s a great time to do so! Contact me for more information about any of these homes. I can also send you information about new listings in and around Basking Ridge or you can search yourself for townhouses or single family homes.
Underground Storage Tanks
Yup, the topic has come up yet again. And again. I am mentoring a new agent in the office - she wrote her first contract not too long ago. During attorney review, her buyer asked that the seller remove the decommissioned underground storage tank. ALL buyers ask for this to be done – it’s a no-brainer. But, because of the nature of this particular negotiation, and the perceived discount that this seller gave this buyer, both parties dug their feet in and the deal fell apart. The seller was still getting used to the idea of selling their home for less than they had anticipated and wasn’t prepared to spend additional money to get the house sold. The second scenario has a happier ending – a potential buyer for one of my listings presented an offer for one of my listings and offered to let the seller leave the tank in the ground as long as they could get insurance. I had already prepped my seller client that they would probably have to pull the tank, so when we found a buyer that wasn’t concerned about it, we were thrilled. Then along came the attorney… and the calls to the insurance companies… and while you can get insurance, it is not without stipulations. After lots of discussions and a good night’s sleep, my seller clients agreed to have the tank removed. I’ve written about this before and I updated it this morning on my Bernardsville blog. Follow the links for more information about this popular topic.
If you are considering a move into or out of Basking Ridge, please allow me to send you listing notifications of properties as they come on the market. Also feel free to review closed sales in Basking Ridge.
50 Church Street, Liberty Corner
I offer you FOUR great reasons to buy now.
Buying a home is one of the biggest decisions an individual can make, so it is understandable that someone considering a home purchase may take their time to avoid rushing into such a large financial commitment. However, several factors might leave prospective homebuyers who don’t purchase a property now wishing they had taken action sooner.
According to James M. Weichert, president and founder of Weichert, Realtors, these are three reasons why those who are not under contract to purchase a new home by April 30 might regret it:
- No money from Uncle Sam. First-time buyers who aren’t under contract by April 30 will leave the $8,000 tax credit that is available to them on the table. Repeat buyers will miss out on the opportunity to collect up to $6,500 from the government.
- Interest rates might rise. The government will soon put an end to its efforts to keep mortgage rates at historic lows, and it is expected that rates will rise. When they do, monthly mortgage payments will be higher for those who wait.
- Homes may be less affordable. Home price affordability is at its most optimal level in decades. Those who wait to buy will likely pay more for the home they purchase than what that same home would cost now, meaning not only a higher price, but less appreciation.
- 50 Church Street in Liberty Corner was just reduced to $499,000! This fantastic Craftsman colonial sits on over 3/4′s of an acre backing to English Farm. Vintage features: wrap around porch, pine floors, chestnut trim, pocket door, other features include gas fireplace, new roof, deck Family room addition, thermopane windows, walk-up attic, greenhouse, 12×20 shed with electricity and cable. All this inside a white picket fence (with pet fence as well)! Easy access to rte 287 and 78, shopping and public transportation. Don’t miss the opportunity to own a piece of history in the heart of Liberty Corner!
Tags: 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.
Real Estate Relationships
I spent an inordinate amount of time this past week on a potential deal for one of my listings. We had seven offers on the table – yes, SEVEN, in this supposedly dead real estate market (more on that later as this market is certainly not dead!). The subject of my commission came up several times – my seller and more than one of the bidders asked us to reduce our commission in order to pull the deal together. I can’t let that go without some sort of comment … I have two messages:
- To the Buyers, commission is between the seller and the listing agent, you cannot change that and if your agent wants to reduce his or her commission to make your offer stronger, he or she needs to present a letter from their managing broker agreeing to that fact before I will let my seller sign the contract.
- To the Sellers, you signed a listing agreement giving me and Weichert Realtors the exclusive right to sell your property and you agreed upon a commission rate at the time that you signed that contract – please don’t ask me to address my commission again when we are negotiating a contract.
Take a look at my current article over at the Basking Ridge Patch, it addresses real estate relationships in the state of New Jersey. It is important to understand the difference between Buyer’s Agents, Seller’s agents and Disclosued Dual Agents. You won’t necessarily get a better deal as a buyer if you work with directly with the listing agent; and as a seller, if your agent brings the buyer, he or she immediately becomes a disclosed dual agent and you will not have the upper hand in the transaction.
If you have any questions about agency relationships please don’t hesitate to contact me directly.
Considering a move into or out of Basking Ridge? It’s a great time to make a move – buyers and sellers alike. The market is moving in Basking Ridge; showing activity is up on most of my listings and as I said earlier, I am even entertaining multiple offers in some instances. I can set you up for listing alerts in Basking Ridge or you can search Basking Ridge homes or townhomes yourself.