July 2010 was no different.  Thirty-five families moved into their “new-to-them” homes this past month.  Follows is a list of those transactions including address, List Price and final Sale Price:

236 Potomac Drive, Spring Ridge  $199,000/$196,500
331 Penns Way, Society Hill  $259,000/$255,000
239 English Place, Society Hill  $259,900/$259,900
197 Alexandria Way, Spring Ridge  $267,000/$257,000
108 Village Drive, Lord Stirling  $324,900/$314,000
80 Village Drive, Lord Stirling  $352,000/$340,000
76 Liberty Corner Rd  $395,000/$320,000
112 Galloping Hill Road  $430,000/$430,000
120 Constitution Way, The Hamiltons  $469,000/$445,000
51 Arbor Circle, The Cedars  $475,000/$460,000
41 Harrison Brook Dr  $499,000/$475,000
5 Clark Court, The Hamiltons  $505,000//$480,000  105
71 Dorchester Drive, The Hamiltons  $514,900/$507,000
16 Goltra Dr  $549,900/$537,000
88 Lyons Road  $599,000/$575,275
301 Mountain Road  $698,000/$651,500
15 Alder Lane, The Hills  $729,000/$715,000
56 Dickinson Road, Amherst Mews  $769,900/$760,000
1 Springfield Lane, Amherst Mews  $774,900//$755,000
47 Fairview Drive South  $784,500/$784,500
18 Whitetail Lane, The Hills  $839,000/$795,000
7 Barton Way, Amherst Mews  $840,000/$826,000
3 Barton Way, Amherst Mews  $849,900/$800,000
5 Johnston Circle, The Hills  $859,000/$820,000
44 Kinnan Way  $899,000/$890,000
14 Grove Road  $919,000/$929,000
52 Sentinel Drive, The Hills  $995,000/$1,024,999
8 Culberson Road  $999,999/$958,000
85 Governor Drive  $1,065,000/$1,060,000
52 Deer Creek Drive  $1,100,000/$1,020,000
26 Deer Creek Drive $1,199,000/$1,045,000
8 Rachel Court, Prince Edward Point  $1,239,000/$1,251,188
3 Deer Ridge Road  $1,499,000/$1,390,000
70 Morgan Lane  $1,739,000/$1,575,000
66 Emerald Valley Lane, new construction  $2,275,000/$2,175,000

Although the blog has been quiet, I have been quite busy as has the industry – we have had resolution on a few issues including the extension of the tax credit, some changes to flood insurance requirements and the defeat of a state bill that would require a tax on seasonal rentals.  As for me, I have been working with Gerry and Judy on several rental transactions, two new listings (one in Bernardsville and one in Basking Ridge), and many closings (I have three next week and I had two this past week).  I am working with a lovely young couple hoping to find their first home in Basking Ridge, I am managing my current listings and negotiating inspection issues for a current seller.  I just haven’t been blogging – because when I’m not working, I’m spending time with my kids and I will say that this has probably been one of my best summers yet!  I’m sad for it to end – so we won’t talk about that yet.

If you are wondering if now is the time to buy, there is no doubt in my mind that there are some great deals out there.  So take a look at the website to search Homes for Sale in Basking Ridge or make an inquiry to find the value of your home.  I’m happy to help!

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January is National Radon Action Month and the Bernards township health department is offering home radon kits during the month January.  If you are interested in having your home tested, visit the health department at 262 South Finley Avenue between 9:00 and 4:00 – through tomorrow. 

Bernards Township Public service announcement over. 

What is radon?  Radon is a colorless, odorless, tasteless radioactive gas that comes from the decay of naturally occuring urnanium in the soil.  It is actually quite common in our area and most buyers test for it during the inspection period of the transaction.  A seller has an obligation to remediate of the results are 4.0 picocuries or greater.  It is actually very easy to remediate.  A pipe is installed in the basement – under the foundation – and snaked above the roofline.  A fan creates a vaccuum that pulls the radon out and disperses it into the air where it is diluted to a point where it is no longer harmful.  For a 3200 square foot house it typically costs about $1100.

If you are considering a move into or out of Basking Ridge, please contact me for a buyer consultation or a market analysis of your current Basking Ridge home.  Visit my site to search Basking Ridge Real homes for sale – whether you are looking for a condo, a single family home or a luxury property.  I’m happy to help!

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Happy New Year and best wishes for an amazing 2010!

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Buyers who purchase a property with someone else may wonder about their ability to claim the homebuyer tax credit. The Internal Revenue Service (IRS) recently issued tax credit eligibility guidelines for co-borrowers purchasing a home.

One of the most commonly seen situations is when a parent co-signs their child’s mortgage and both names appear on the note. If the parent owns a home, they are not eligible for any portion of the credit. However, if the home-buying child has not owned a home in the previous three years and meets the other requirements, he or she can qualify for the full $8,000 first-time buyer tax credit.

In other cases, unmarried individuals purchase a home to live in together. If only one of the co-borrowers meets all of the requirements, the eligible buyer may claim the full tax credit.

Click here to visit the homebuyer tax credit section on the IRS Web site.  You can also contact me directly for additional questions.  Click here to start your search in Bedminster, or here to start your search in Basking Ridge.  I also cover surrounding areas and have contacts all over the state for areas in other counties.

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Visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.

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Bernardsville, NJ Market Snapshot

5 properties under contract since 10/30/2009 

88 properties available (as of 11/30)

Overall Market Absorption: 17.6 months

Adjusted Market Absorption: eliminating luxury properties (over $1M): 39 available, 5 under contract = 7.8 months of inventory – not such a bad outlook.

What’s available? 

• 15% of the inventory is listed under $500,000 (13/3=4.3 months)
• 30% of the inventory is listed between $500,000 and $1,000,000 (27/2=13.5 months)
• 55% of the inventory is listed over $1M (can’t calculate)

Properties Comparable to this new listing: 

Sold:

Stay tuned for more information about the property and it’s list price!!

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Please make some comments!  Let me know what you think of the blog; of the design; of the content!

Thank you!

Jennifer

Don’t hesitate to search Basking Ridge homes for sale while you are at it!

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There’s nothing worse than having a major appliance break, especially since most people depend heavily on their dish washer and laundry machines. Then, there is the inevitable choice that must be made: whether to repair it or just get a new one.

Of course, the primary factor to consider when making a decision is the cost of the repair versus the cost of replacing the appliance, factoring in such things as tax, installation, and removal and disposal of the broken unit. According to Angie’s List, a national consumer ratings company, these things should also be considered:

• Age/History – Older appliances may require ongoing service, which could cost more over time than simply buying something new. On the other hand, if you have not had trouble with the appliance in the past, it might be worth fixing it.
• Energy Efficiency – New appliances could save you considerably when it comes to energy costs. Determine if the energy savings will offset the cost of a new appliance. In addition, tax credits may be available on energy-efficient units.
• Features/Performance – As technology advances, appliances have more and more features and can do more things. Putting cost aside, purchasing a new appliance might be the right choice simply because it improves your quality of life.

If the decision is to purchase a new appliance, remember that quality products tend to last longer, and that proper care will help prevent problems and reduce the need for repairs.

Contact me if you are considering a move into or out of Basking Ridge, NJ; I am happy to help you determine the value of your Basking Ridge home, or you can search what’s for sale in Basking Ridge (and many other areas as well!)

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Acres of Open Space and Parkland in Basking Ridge

In researching for an upcoming post (Top Ten Reasons to Live in Basking Ridge) I came across the following information. I had no idea that you can dedicate a living memorial in one of our township parks!  Each fall, trees are planted to honor the memory of a deceased relative, friend, or member of your organization, to celebrate a birth or anniversary, or to recognize a volunteer or employee.  A memorial tree plaque is located at Town Hall with the names of the individuals for whom trees have been planted.  And you can even be present at the planting!  Download application forms here. 

If you are considering a buying or selling a house in Basking Ridge, contact me for more information about our town.

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