Archive for the ‘Basking Ridge Real Estate Information’ Category

Seven sales in Basking Ridge since the first of November:

• 118 Conkling Street, list price: $359000, sale price: $275000
• 26 Cedar Street, list price: $797000, sale price: $768000
• 171 Jamestown Road, list price: $234000, sale price: $215000
• 128 Patriot Hill Drive, list price: $645000, sale price: $630000
• 67 Vanderveer Drive, list price: $1069900, sale price: $1060000
• 84 Highland Avenue, list price: $453800, sale price: $425000
• 75 Landau Road, list price: $814900, sale price $815000

Additional Basking Ridge market information:

Ten contract sales since the first of November: two condos, three townhouses and five single family homes.  Price point ranges from $229,000 to $1,495,000 and average days on market for these ten listings was 49.5 days.

There are 168 active listings in Basking Ridge (search here for listing details). With 19 sales in the last thirty days, Basking Ridge market absorption rate is 8.8 months.

On the state level – The Garden State Rocks!

New Jersey Association of REALTORS® (NJAR®) Chief Executive Officer Jarrod C. Grasso today issued the following
statement:

“For the third quarter of 2011, New Jersey existing home sales outperformed sales in the northeast. The resiliency of Garden State infrastructure and industry, plus our location between the New York City and Philadelphia markets, places us in a strong position for employment and stability.

“Compared to New Jersey’s other metro areas, one particular bright spot that displayed a slight median home price increase from the third quarter of 2010 was Newark, N.J. With a revived commercial real estate market, this shows the correlation that improving accessibility to employment can help preserve property values.

“General economic concerns continue to affect consumer confidence, which is in turn affecting home sales. Tight lending restrictions are also keeping creditworthy buyers from capitalizing on the current opportunity to purchase a home. It is more important now than ever to recognize the benefit of working with a REALTOR®. Whether a first-time or repeat buyer, investor or a family exploring their options, it pays to work with a professional who is educated in local markets and specialized transactions, such as short sales and investment properties.”

Necessary Blog Housekeeping

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59 Commonwealth Drive

A one bedroom Baxter model in Spring Ridge with an updated kitchen and an updated bathroom.  This unit features both a basement and a garage.  Open Sunday from 1-4.

86 Childs Road

A four bedroom center hall colonial on three wonderful acres.  Home features an updated kitchen, finished basement with media room and a terrific sun room. Open Sunday from 12-4.

Just Listed – a wonderfully updated one bedroom condo in Spring Ridge.  This unit features garage and basement.  Updated kitchen and updated bathroom – both done beautifully.  Why rent when you can buy this gorgeous unit for $219,000?

Take a look:

Closings since October 22nd:

• 93 Atlas Road – List Price: $535,000 / Sale Price: $500,000
• 302 English Place – List Price: $215,900 / Sale Price: $197,000
• 2 Landau Road – List Price: $734,800 / Sale Price: $715,000
• 93 Countryside Drive – List Price: $189,900 / Sale Price: $178,000
• 41 Roberts Circle – List Price: $479,000 / Sale Price: $450,000
• 7 Quincy Road – List Price: $425,000 / Sale Price: $425,000
• 67 S Alward Avenue – List Price: $554,000 / Sale Price: $515,000
• 67 Vanderveer Drive – List Price: $1,069,900 / Sale Price: $1,060,000
• 56 Aspen Drive – List Price: $339,900 / Sale Price: $327,500
• 42 Baldwin Court – List Price: $159,600 / Sale Price: $159,600
• 16 Lindbergh Lane – List Price: $239,000 / Sale Price: $210,000

One closed sale this past week in Basking Ridge: 9 Crier Court, listed $1,348,900 and sold for $1,300,000.

Two contract sales, both single family homes.  At least one of those had multiple offers in the mid-$500,000 price point and another that was listed for close to $1,400,000 and was only listed about two weeks ago.  Looks like when properties are priced right they will sell quickly!

Additionally, there were nine new listings: four condos/townhouses and five single family homes.  None over $1,000,000.

For more information on any of these new listings or contract sales, contact Jennifer or visit Basking Ridge Real Estate to search for homes.

This week’s featured open house is at 11 Archgate Road in Basking Ridge.

11 Archgate Road, Baking Ridge, NJ – open Sunday, 1:00-4:00 pm

It’s a great time to buy – interest rates have never been lower.  Come preview this home while it is still available!

Homes for Sale in Basking Ridge

My webmaster has been encouraging me to add video to my blog posts.  I created a test video this morning – a walking tour around my office.  I simply can’t post it.  It is very shaky and simply a very bad first attempt.  But I can’t allow myself a complete ZERO for the assignment, so I created this instead:

I am hopeful that this will earn me at least half credit for the day!

Basking Ridge Market Activity – Oct 2 through Oct 8

There were three closed sales in Basking Ridge this past week:

• 137 Village Drive in Lord Stirling Village sold for $310,000 (list price: $339,000)
• 14 Clark Court in Hamilton Woods sold for $417,000 (list price: $419,000)
• 76 Shannon Hill Road in Shannon Hill Farms sold for $1,125,000 (list price: $1,225,000)

There are 173 properties on the market in Basking Ridge; eight of those listings are in attorney review. Average days on market is 118 and average list price is $878,217.  There were 17 contract sales in the last 30 days yielding an absorption rate of 10 months.

Since the beginning of the fall makret there have been 62 new listings.  Seven of these listings are already in under contract,  there have been an additional 18 contract sales since September 1.

Happenings around town

On November 1, 2011, Bernards Township will have paid off the last of its unfunded debt. In celebration of this, the Township Committee will host a “Bond-Fire” in the rear parking lot at the township municipal building on October 29, 2011, at 7 PM. A facsimile of the township’s final unfunded bond will be burned as a symbol of a successful fiscal policy.

The Bernards Township Police Department, will be hosting an Operation Take Back New Jersey local collection site as part of the Operation Take Back NJ medicine disposal day. The event will take place at Police Headquarters, 1 Collyer Lane, Basking Ridge, NJ between the hours of 10 a.m. and 2 p.m. on Saturday, October 29, 2011.

While the overall real estate market is not doing so great, the market here in Basking Ridge remains strong.  Sale prices may not be where we want them to be (as sellers and homeowners) but sales activity continues to remain steady with some properties attracting multiple bids and near-asking sale prices.  It’s a little hard these days to push the envelope on pricing – market value is going to become evident in the first few weeks that your house is listed and you and your agent will have only limited control over the final sale price.

What you can control is how the house shows.  I often tell prospective sellers to start packing.  Less is more, de-clutter and neutralize.  You are selling a house, not your home – to a buyer who is looking for a house which they can envision as their home.  You need to make it easy for them to do that.

Sharon Tara, a stager in NH wrote a great article for a real estate forum that I frequent.  She says that when preparing your house for sale, you should consider the “Perfect Crime”. Today’s buyers are like the detectives in those old time movies: leave them the smallest amount of evidence and they will find a way to use it against you!

She suggests that successfully selling your house requires leaving no evidence at the scene. Remove the DNA – your family photos, diplomas and degrees.  Clean up the fingerprints – medical equipment, medications, hobbies and collections.  Allow a prospective buyer to walk through your house and imagine it as their home.  I do not think you have to take away everything; it is important that your house be warm and inviting. But it should be presented in a way that is universally accepted as such: chocolate chip cookies or apple spices are much better aromas than last night’s garlic casserole!

Additionally, you should be prepared to flee the scene at a moment’s notice!  It is virtually impossible to keep your house in show shape 24 hours a day – but, of course, that is what today’s detectives expect (oops, I meant buyers).  I often tell people that we understand that people live here – and if you are feeding a toddler three meals a day it’s okay to leave the high chair in the kitchen. But it’s a good idea to keep a laundry basket or a plastic tote by the front door to hold the remnants of quick clean up so you can leave in a hurry if an agent calls to schedule a last minute showing.

The best way to ensure that your house will sell is to price it right and make sure it shows PERFECTLY.

258 Alexandria Way, Basking Ridge

Spring Ridge Duplex – Greenbriar model – 3 bedrooms, 2.1 baths and a finished basement.

Sold for $432,000