Archive for the ‘Just Sold’ Category

Ten sales in Basking Ridge since January 15th:

223 Alexandria Way – this was a bank approved short sale – sold for $170,000

436 Penns Way – $280,000

38 Roberts Circle – $480,000

11 E. Ash Street – $815,000

82 Dorchester Drive – $408,000

180 Patriot Hill Drive – $590,000

162 Alexandria Way – this was a foreclosure – sold for $230,000

40 Sentinel Drive – $1,056,000

17 Berta Place – sold over asking at $801,000

11 Archgate Road – $690,000

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11 Archgate Road closed yesterday – list price was $699,000, sale price $690,000!

Also closed this week was 15 Frohlin Drive in Bridgewater; sale price $310,000.

For information on how to get YOUR home sold, you can visit Basking Ridge Real Estate or Bedminster Real Estate and follow the link for a free home value report.

There was only one closing this week in Basking Ridge: 38 Roberts Circle, a town house in Maple Run sold for $480,000.  The market must be getting better because I never would have guessed that this unit would have sold for so much!  I’m very happy for that seller.  There are several other units in that development that have been for sale recently, I’m quite sure we’ll see some of them returning to the market this spring.  Hopefully they will have better luck this season!

Basking Ridge absorption rate is 6.2 months – there are only 132 properties available.  In my network – both socially and professionally, I know of at least six homes getting ready to list…  I’m hopeful that this will be a great selling season for both buyers and sellers!

Surrounding areas:

In Bedminster there were three closings this week: 77 Sage Court, a condo in the Mayfield section, closed for $189,000; 19 Eton Court a townhouse in Stone Run II sold for $363,500 (Judi and I sold this one!), 200 Old Farm Road a cape cod off of Lamington Road sold OVER ASKING for $801,000.   Absorption rate in Bedminster is just under seven months – with 83 properties available, 25 under $300,000, and interest rates under 4%, it’s a great time to buy!

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Wonderfully private – your own backyard oasis featuring an inground pool and a newly renovated kitchen! Beautifully situated on 3 magnificent acres and convenient to everything! Generously sized living and dining rooms. Finished lower level is walkout – offering a separate entrance, perfect for a home office or aupair suite. Every room has terrific views. The breakfast room opens to a tiered deck ringed with evergreens. This home is a perfect luxury townhome alternative…live here as it is or consider expanding as there is plenty of space and lots of potential!

Four bedrooms (3 bedroom septic), three full baths, two car garage, almost three acres, in-ground pool…and more!

Offered at $825,000 – SOLD for $777,500

Twelve closed sales in Basking Ridge since I last posted a market update on 11/16/11:

• 340 Penns Way closed for $215,000 – Society Hill
• 147 Jamestown Road closed for $232,500 – Spring Ridge
• 58 Alexandria closed for $273,500 – Spring Ridge
• 141 Village Drive closed for $$355,000 – Lord Stirling Village
• 65 S. Alward Ave closed for $549,900 – my listing!  multiple offers!
• 215 Patriot Hill Drive closed for $557,500 – Patriot Hill in the Hills
• 117 Goltra Drive closed for $592,000
• 23 Forest Trail closed for $573,000
• 128 Patriot Hill Drive closed for $630,000 – Patriot Hill in the Hills
• 68 LibertyRidge Road closed for $764,000 – Liberty Ridge in the Hills
• 37 Chimney Ash Farm Road closed for $770,000
• 267 English Place is closing TODAY! – my listing!

There were 10 new listings in this time period and there were 13 contract sales – not bad for the last two weeks of November, traditionally the end of the Fall market.  I am still very busy – writing a contract today, I have a listing appointment this week and another appointment with move-up buyers on Sunday.  My partner Gerry is also out with clients this week…Maybe the Fall market will carry us right through to Spring!

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

258 Alexandria Way, Basking Ridge

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

Sold for $432,000

There have been fourteen contract sales in Basking Ridge since 9/1/11 – at prices across the range from $200,000 up to $1,300,000.  Of the 178 properties showing available, eight are starred as being in attorney review and I know that there are at least two others with offers being negotiated.  I am working multiple offers on one of my listings, just received an offer on another one and I am expecting an offer on a third before the end of the week.  Despite this activity, the absorption rate here in town has crept up significantly – reaching almost 12 months.  That is CrAzY – and I think it is a false high as I am aware of several properties that are under contract that are not accurately reported in the MLS.  This is being done to protect sellers in a buyers market full of uncertainty when it comes to things like appraisals and re-negotiations after inspections.

Obviously though, people are still buying homes in Basking Ridge – there have been 22 closings since September 1st:

85 Manor Drive, sale price: $975,000
22 Royal Oak Drive, sale price: $1,480,000
23 Mayflower Drive, sale price: $490,000
37 Emily Road, sale price:  $1,750,000
19 Hancock Court, sale price: $499,000
222 Patriot Hill Drive, sale price: $615,000
21 Sentry Court, sale price: $1,232,500
128 Constitution Way, sale price: $468,000
35 Old Farm Road, sale price: $1,215,000
22 Dexter Drive North, sale price: $537,500
12 Van Dorn Road, sale price: $650,000
78 Carlisle Road, sale price: $610,000
55 Kinnan Way, sale price: $865,000
1 Potomac Drive, sale price: $210,000
184 Spencer Road, sale price: $475,000
257 Penns Way, sale price: $275,000
72 Liberty Ridge Road, sale price: $712,000
23 Ramapo Drive, sale price: $1,042,000
26 Hickory Drive, sale price: $855,000
18 Hadley Court, sale price: $660,000
142 Irving Place, sale price: $225,000
21 Knollcroft Road, sale price: $474,900

Great houses when listed at great prices will absolutely sell.  And – in my opinion – every house is a great house!  Seriously, there is a buyer out there for every house. You just need an experienced agent to help you market the property, find the buyer and navigate the rough waters of the current market!  As these 22 new Basking Ridge homeowners can attest: it can be done!

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