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The following properties have closed in the last month:
110 Jamestown Rd
257 Mount Prospect Rd
5 Hansom Rd
55 Mount Airy Rd
20 Raleigh Ct
40 Meeker Rd
42 Mayflower Dr
55 E Oak St
44 Beechwood Rd
29 Vanderveer Dr
25 Stacy Ln
38 Hansom Rd
6 Magnolia Path
84 Huntington Rd
14 Village Drive - **my listing**
210 Potomac Dr
39 N Dexter Dr - **my sale**
10 Prescott Ct
397 Penns Way
72 Victoria Dr – **my listing**
If you are considering a move to Basking Ridge, I am happy to help. Access my website to search homes for sale in Basking Ridge or homes for sale in Bedminster or you can contact me for access to other towns. My team and I support all of Somerset County and beyond!
There is no doubt that this is a great time to buy a house. Purchasing a home has remained affordable, primarily because of the extended period of historically low interest rates that has continued for more than two years. A wide variety of properties from which to choose and affordable prices sweetens the opportunity for homebuyers.
The general public agrees, and so does the secretary of the U.S. Department of Housing and Urban Development. Consider these recent reports:
- According to a recent Gallup poll, 69 percent of Americans believe that now is a good time to buy a house.
- Responding to a recent New York Times/CBS News poll, nine in 10 Americans said homeownership is an important part of the American dream.
- The National Association of Realtors’ ninth housing pulse survey showed that the overwhelming majority of Americans (72 percent) say that buying a home is a good financial decision. Almost two-thirds (64 percent) say that now is a good time to buy a home.
- During a recent interview broadcast on CNN, Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, urged Americans to purchase homes. He said, “In the long run, it is a good time to become a homeowner because it’s so affordable today compared to where it’s been for generations.”
If you are considering a move into or out of Basking Ridge, click here for a free market analysis of the value of your home in today’s market. Or click here to search for homes available in Basking Ridge.
SEVEN of the homes that listed in the last thirty days are already in attorney review – and this is supposed to be a slow season for real estate! I don’t think so.
If you are considering a move to Basking Ridge, I am happy to help. Access my website to search homes for sale in Basking Ridge or homes for sale in Bedminster or you can contact me for access to other towns. My team and I support all of Somerset County and beyond!
There are several things going on in my Basking Ridge Real Estate world that I thought I would share.
Moving sale at 11 Archgate Road in Basking Ridge
Friday, 6/24 from 9am – 2pm and Saturday, 6/25 from 9am – 12pm. Priced to Sell. Loads of kids toys, clothes, games and books. Household items, furniture, storage, etc. Too much to list. Take Lyons Road to 11 Archgate Road.
Featured Open Houses
22 Lyons Place from 1:00-5:00 on Sunday, 6/26. The list price on this home was just reduced from $519,000 – a great opportunity for a first time home buyer or someone looking to renovate, remodel or build on what is almost an exact acre in the heart of Basking Ridge.
258 Alexandria Way from 1:00-4:00 on Suday, 6/26. This open house is still tentative – watch the internet for confirmation. A Greenbriar model in Spring Ridge, this unit features a newly finished basement, newer windows, hardwood floors, new carpet and a gas stove.
Loan limits
On September 30, the cost of a mortgage could rise significantly as Congress is consiering lowering the mortgage loan limits for FHA and GSEs. Currently, in Somerset County the FHA loan limit is $729,750 but it is proposed to be reduced to $625,500. This will add a hurdle for even well qualified buyers by reducing affordability. This is not something we need now, not as our markets are just starting to level off. The real estate community is working hard to keep mortgages affordable – campaigning to keep the current loan limits.
Basking Ridge Real Estate – information for you
If you are considering moving into or out of Basking Ridge, this might be the best time to do so! Get your house on the market and SOLD before the loan limits change. Summer typically is a slow time, however, the last few offers I have written were presented in competitive bid situations – there ARE buyers out there and I can help you find them for your Basking Ridge home.
Search homes for sale in Basking Ridge or get your home’s value in today’s Basking Ridge market.
Whether you’re thinking of buying a home with an in-ground pool or toying with the idea of having one built, there are many important considerations to take into account. In addition to significant installation costs for those building a new pool, all homeowners with a pool will need to be mindful of ongoing maintenance expenses as well as insurance and tax implications.
If a swimming pool is in your future, here are some things to keep in mind:
- Installation costs for a 600-square-foot concrete pool average around $30,000. Less expensive options include fiberglass shells and pools with liners; however, pool liners need to be replaced approximately every 10 years, raising ongoing maintenance costs.
- Other equipment you will need to maintain your pool include an energy-efficient pump, chemical balancing supplies, cleaning, and fees for opening and closing the pool for the season. A rule of thumb is homeowners should budget around $600 annually for maintenance in a seasonal swimming climate and between $15 and $25 per week in a year-round climate.
- Homeowners with a pool should increase the liability portion of their homeowners insurance policy from the standard amount. In addition, many underwriters require you to fence in the pool so that children can’t wander in unsupervised.
- There is no guarantee that adding a pool will add to your home’s selling price. Experts advise keeping building costs between 10 percent and 15 percent of what you paid for the house to help assure you don’t invest too much money that you won’t necessarily recoup on resale.
When we bought our house, a pool was absolutely not on my wish list. However the house that we found that also had all of the things that were on my wishlist ALSO had an inground pool. I have not regretted that pool one day that we have been here. The kids love it, my husband loves it, and love that they love it! I haven’t found the costs to be insumountable – except when we had it resurfaced it. But that’s not something that happens often. We do our own maintenance, but last summer we hired someone to help us get over an algae issue.
I have some great people to recommend for service and inspections:
- Keith Willard is Advantage Pools: 908-996-1274 (I have personally used Keith’s service)
- Mike at Super Pools – 908-688-3535 (several Basking Ridge families have recommend that I put Mike on my list; I have not met him myself.)
- Steve Lippy – 201-424-0483 (several Basking Ridge families have recommend that I put Steve on my list; I have not met him myself.)
For a pool inspection when buying a house with a pool, I have had clients use Jeff Lagenbach – (973) 669-0734 – with Perferred Pool Inspections.
If you are considering a move into or out of Basking Ridge, it’s a great time to buy. Search homes for sale or take a look at what has sold here in town. I also cover neighboring Bedminster and Bernardsville as well as other surrounding areas.
And a record day…
Despite the negative stories in the media, there is lots of positive news at Weichert. Not only was May our best month in a full year, but the first business day after Memorial Day was our best single day in more than a year.
In addition, the first weekend of June was our best Open House weekend since April 2010. Weichert Sales Associates hosted almost 3,400 Open Houses throughout our company-owned footprint, 19 percent more than the same weekend last year. Attendance was also up a whopping 37 percent compared to 2010, and the average number of attendees at each Weichert Open House was up 15 percent.
So, who keeps saying that the real estate market is dead?
Recently, the loan rep in my office shared with us a list of things that he asks for when taking a loan application. You may not have each of these items, but the more you provide, the better off you’ll be. Additionally, not all of them will apply. If you are getting ready to apply or are looking for a pre-approval letter, take a look at this list and start pulling it all together!
- Copies of the last two years W-2
- Copies of the last 30 days pay stubs
- If you are self-employed or work on commission, signed copies of your last two years 1040′s with all schedules the the most recent profit and loss statement
- Current or year end mortgage statement
- Copies of the last two months statements from all your asset accounts (checking, savings, IRA, 401-K, stocks, bonds, etc.)
- Copies of all current leases on rental properties that you own
- copy of relocation benefits including closing costs paid for by the company and the company buyout offer on your current home
- Copy of the fully executed contract of sale for the home being purchased
- Copy of the fully executed contract of sale for the home you are currently selling
I currently work with two Weichert Financial Service representatives: Keith Wanamaker and Brian Wagenseller. Both provide excellent service and can typically be reached any day of the week.
- Keith Wanamaker: 908-766-5820, kwanamaker@weichertfinancial.com
- Brian Wagenseller: 908-310-5120, bwagenseller@weichertfinancial.com
While you are waiting for your pre-approval, you may as well start searching for your dream home! Check out condo listings in Bedminster, or townhomes in Basking Ridge.
New listings coming soon
I am so excited to present my two newest listings! On June 1st, I will list 258 Alexandria Way, a greenbriar model in Spring Ridge – this is a duplex with a first floor master. The current owner has replaced many windows, installed maple hardwood floors, new wool carpet upstairs. The ran a gas line to the kitchen so the new Bosch range/oven is gas; the diswasher was also recently replaced with a Bosch. Topping this all off is a beautifully renovated main bath! List price is $475,000 – a great value considering the prices of our competition are $489,000! Come visit the open house on Sunday, 6/5.
My other new listing is still a secret, but I can tell you it’s a great ranch – one floor living with a finshed lower level and an updated kitchen. A wonderful deck overlooking a beautiful pool; nestled on three acres in the northwestern section of town. I sold this house six years ago and it remains one of my favorite properties in town! Own your own piece of paradise!
Market Absorption
With 221 active listings in town and 41 sales in the last thirty days, the Basking Ridge market is at 5.4 months of inventory. 14 of those sales were under $500,000, 10 were between $500,000 and $700,000, 13 were between $700,000 and $1,000,000 and four were over $1,000,000. There were no sales over $2,000,000.
Current Inventory
- 32 properties under $300,000
- 27 between $300,000 and $400,000
- 26 between $400,000 and $500,000 (with six at $499,000)
- 22 between $500,000 and $600,000
- 17 between $600,000 and $700,000
- 15 between $700,000 and $800,000
- 19 between $800,000 and $900,000
- 5 between $900,000 and $1,000,000
- 38 between $1,000,000 and $2,000,000
- 6 between $2,000,000 and $3,000,000
- 5 over $2,000,000
- 87 of the active listings are townhouses or condos (search here)
- 134 of the active listings are single family homes (search here)
There are eight properties that are under contract with contingencies. I am seeing more and more contracts with home sale contingencies; it is no longer unheard of. There are ways to do that while protecting the best interests of both the buyer and the seller. Feel free to call me for more information about that; I’m happy to help!
Have a wonderful Memorial Day weekend!
Whether you’re doing some much-needed spring cleaning or de-cluttering in advance of selling your home, it is inevitable that you will wind up with many items that you’d like to get rid of. As they say, your trash may be someone else’s treasure, so think carefully before just throwing all of your unwanted items in the garbage.
There are many ways to give your stuff new life, and help the environment while you are at it. In fact, Consumer Reports recently provided suggestions to its readers looking to recycle larger household items.
- Many charities such as Habitat for Humanity, Goodwill and the Salvation Army will accept donations of appliances, furniture and other household items. Here in Basking Ridge the Commmunity Service Center does furniture pickups on Wednesday evenings and Saturday mornings. It’s really easy!
- A website called Earth911.com offers solutions for recycling a variety of items, such as mattresses, electronics, building materials, hazardous waste and more.
- The Yahoo group – Somerset Freecycle – is another avenue to donate stuff; it’s also a great place to find second hand items that you might not even know you need!
- If you don’t mind paying a small fee, services such as 1-800-Got-Junk will remove your “junk” and make sure it is recycled, donated or disposed of responsibly.
- There is a chance you can even earn some cash for the things you no longer want. Try listing items on Craigslist so local buyers can come to your home to pick up what they have purchased, saving you the hassle of shipping.
