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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.
I am often asked about home staging and whether it is necessary when listing a home for sale. I do think it is important – whether you engage a certified home stager or you do it yourself. I am considering attending the seminar offered by my home-staging-go-to-person, Angela Gaugaf of NJ Home Staging and Redesign:
Home staging is one of the most valuable tools that home owners can use to sell their home in today’s competitive market. Angelia will be presenting a 2-hour seminar addressing this topic. She will cover the following:
- What home staging is and how it can influence buyers and the selling price
- Home staging statistics and facts
- The top 5 staging mistakes to avoid when selling
And of course, she will be showing before and after pictures – something everyone loves!
The seminar will be offered on two dates – Wednesday, October 19th and Wednesday, November 2nd from 7 to 9 PM at Artistic Impressions Studio in Boonton, NJ. The class fee is $50. Call 973-257-1500 to register or for additional information.
Please click here to drop me a line and let me know if you are attending – I’d love to meet you!
Basking Ridge Real Estate
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.
I’ve had a great year – to date I have closed 17 properties, I have three under contract and two more in attorney review. I have seven active listings that I would love to get sold. On that note, I am here to share three really great price improvemets:
- 83 Childs Road is now priced at $799,000 – originally offered at $825,000, this three bedroom home on three acres with a finished walkout lower level and a gorgeous pool is a great opporunity in Basking Ridge. In close proximity to the highways, downtown Bernardsville and the train station – a great opportunity for your own private paradise!
- 100 Old Army Road is now priced at $799,000 – down over $100,000 from it’s original list price of $900,000 – four bedrooms including an au pair suite. A detached two car garage with space waiting to be finished for an office or rec room. Finished basement, huge living room, formal dining room and an updated kitchen. Make this your next home.
- 15 Frohlin Drive is now priced at $459,000 – a well maintained four bedroom split offering the opportunity to add your own personal touches. Located in one of Bridgewater’s best neighborhoods, featuring a Basking Ridge mailing address.
My other inventory is also priced attractively:
- 11 Archgate Road – four bedroom center hall colonial with too many updates to name, offered at $699,000.
- 267 English Place – the lowest priced two bedroom end unit in Society Hill, FHA approved and completely updated: kitchen, bathrooms, floors, moldings, windows, offered at $289,900.
There are currently 176 properties in Basking Ridge, 1o are tagged as being in attorney review and three are under contract with contingencies (contingencies other than the standard inspections and mortgage). That’s 163 properties available for sale, 13 under contract in the last 30 days – an inventory level of 12.5 months. Although I believe that the fall market is in full swing, inventory levels are telling us that it is clearly a buyers’ market. Even here in Basking Ridge.
Price it Right and Negotiate Fairly
Let’s talk about it
It was a busy week in real estate news with several reports being issued, and actions by the Federal Reserve to help stabilize the economy. With affordability at all-time highs due to record-low mortgage rates and attractive home prices, this is encouraging news for homebuyers and sellers.
First, the Commerce Department reported that permits for new construction increased 3.2 percent in August, offering a glimmer of light for the new-home market. A rising number of permits can be a forward-looking indicator of housing starts in coming months, and later in sales of new homes.
In addition, the National Association of Realtors said that existing-home sales increased in all regions in August, even despite regional disruptions created by Hurricane Irene. Overall, sales of existing homes increased 7.7 percent from July and were 18.6 percent higher than in August 2010.
This week, the Federal Reserve also announced Operation Twist, a program intended to spur lending, induce businesses to expand and tempt consumers into spending more. According to the Fed, the intended result is downward pressure on longer-term interest rates and broader financial conditions that are more accommodative. Economics are unpredictable, and while mortgage rates reacted to this news by moving lower, things can – and have – changed quickly.
For consumers looking to make a purchase or refinance, the opportunity to capitalize on historically low interest rates is right now.
Contact me for more information when planning your move. Do your research, I’m happy to help.
Over $150,000 of upgrades since 2004
11 Archgate Road, Basking Ridge
Great new Price: $699,000
Landscaping, driveway, fenced yard, upgraded electric, fresh paint, new gutters, new flooring, new doors – inside and out, new roof, you name it, it’s new! Don’t take my word for it, come see – call for an appointment or come to next week’s open house on Sunday, 9/18 from 1:00-5:00.
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Five closed sales in Basking Ridge this past week:
- 1 Potomac Drive in Spring Ridge – listed for $225,000 sold for $210,000
- 18 Hadley Court in Amherst Mews – listed for $699,000 sold for $660,000
- 33 Vanderveer Drive in Revere Hill – listed for $$819,999 sold for $805,000
- 22 Royal Oak Drive, a Bocina built colonial – listed for $1,575,000 sold for $1,480,000
- 37 Emily Road, another Bocina built colonial – listed for $1,825,000 sold for $1,750,000
Considering a move into or out of Basking Ridge? Consider calling Jennifer Blanchard – she IS Basking Ridge Real Estate!
Weichert.com continues to hold an impressive spot on the Hitwise list of the 2,000 most popular real estate websites. It is consistently ranked within the Top 20 sites and is among the three most popular real estate broker sites.
In fact, according to the most recent report for August, Weichert.com is again the 14th most popular real estate website that Hitwise tracks. Not only that, but Weichert.com has surpassed ReMax.com to achieve the number two spot among real estate broker sites. In addition to Re/Max, Weichert.com also received more visits in August than the sites of many of our other competitors, including Century 21, Coldwell Banker and Long & Foster.
With more than 35 million visits this year through August, and an average of more than 150,000 visits per day, it’s clear that Weichert.com is the go-to site for homebuyers.
I got my water bill yesterday – WOW – it really goes up in the summer time! I suppose it could be because my pool leaks…no, not really, we fixed that problem last summer! I attribute it to my underground sprinkler system – and the puddles of water I noticed in my beds this week. I bet you thought this post would be about Short Sales
!
According to the Environmental Protection Agency, nationwide more than 7 billion gallons of water a day go to landscape irrigation. Aside from that being a lot of water, as much as half of it is wasted because it falls on sidewalks or evaporates into the air before it reaches the ground. Luckily, a few simple changes can help you save a precious resource and lower your bills. HouseLogic recommends that homeowners think of the acronym DIRTS (drip irrigation, recapture, timers and sensors) in order to remember steps to take for saving water and money while still maintaining a great-looking yard:
- Drip irrigation systems are long, thin plastic tubes with small fittings that release water, allowing you to send water only where you need it. A new drip system costs around $200 for a whole yard, or you can convert your existing in-ground sprinkler system. The cost is well worth it: Going from sprinklers to drip irrigation can cut lawn water use by up to 50 percent.
- Recapturing rainwater allows you to irrigate at no cost. To harvest rainwater, place a simple plastic or wooden drum, with a spigot near the bottom where you can attach your hose, underneath a downspout. A 60-gallon barrel costs only $75 to $150, and one inch of rain on a 1,000-square-foot roof provides 600 gallons of runoff.
- Putting your irrigation system on a timer will keep water waste to a minimum and can also help you comply with any local watering restrictions. Timer kits range from the simple to more sophisticated ones with sensors that adjust the water flow based on how much rain has fallen.
Basking Ridge Market info:
It’s been relatively quiet in my world of Basking Ridge real estate this past week – two stalled negotiations, but one property in attorney review and a closing scheduled for this week. As for our town, there were eleven new listings since August 1 - three condos, a town house, six colonials and an expanded ranch listed from $229,900 to $2.6m. A more important stat, 14 properties went under contract – six townhouses, a condo, six colonials and a cape cod listed from $224,000 to $1.39m. I also noticed at least two properties go into attorney review. So, despite the economy…. there ARE buyers out there!
I went on a listing appointment last Friday and I have two more this week – attention buyers: there are going to be some really nice homes on the market this fall! Be the first to know about them by signing up for listing alerts from Basking Ridge real estate.
Let me know if you need help figuring out how to find those buyers or if you are thinking about making a move here in town; I can help assess the value of your home in today’s market. I’m happy to talk with you about Basking Ridge Real Estate!