Archive for the ‘Neighboring Markets’ Category

This three to five bedroom cape has had so many updates over the last six years – it’s perfect!  It offers three bedrooms upstairs with a full bath.  There are two rooms downstairs that are currently used as a family room and a play room; they can be bedrooms or not – depending upon your needs.  The front room – currently a dining room – features a wood burning fire place and could easily be a formal living room.  A large fenced yard is hard to find in this part of town.  Contact me for all the details.

It is a great time to buy!  If you are looking at your first home purchase or to move up from a condo, this might be the perfect house.  Not interested in Bernardsville?  That’s okay, there are lots of homes for sale in Basking Ridge too!

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I had another closing this past week – on Friday.  A few things to remember for your next closing: if at all possible, don’t schedule it on a Friday afternoon.  Don’t schedule it on the last day of your rate lock and don’t schedule it on the last business day of the month.  And whatever you do, don’t schedule it on a day that meets all three put together – especially if you are first time home buyers who are already a little anxious about the whole process! 

My client’s lender entered an incorrect code on the paperwork and all the loan documents arrived at the attorney’s office on letterhead from a bank different from the bank that wired the money!  It all had to go back and be redone – and then there was trouble with the email so the package didn’t arrive, the seller’s attorney was waiting, the seller lived in NYC and needed to get on a train.  Tensions were mounting!

Alas – all documents were finally faxed by 4:30, the seller arrived at 4:45 and we were all on our way by 5:15.  First time home buyers with house keys in their hands and smiles on their faces!

Phew!

Please allow me to help you be as happy as my latest new homeowners are today!  Visit my website to search homes for sale in Basking Ridge or in Bedminster; contact me directly if you are interested in any other areas – i can help there too!

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Well, it’s been about three days into the first work week of the year!  I already have one deal out of attorney review, I’ve had a new buyer client out looking (he found me via my website and I’ve gotten two phone calls from Basking Ridge homeowners who are ready to put their homes on the market (look for two new condo listings in the next few weeks)!  It’s going to be a good year!  I really believe that – though I will admit that it is a relative statement…relative to your position in the market – are you buying or selling and what is your motivation?

I do not expect that sale prices are to start climbing.  I don’t think they are going to drop much (if any) though so this might be the time to start getting serious about your Basking Ridge home search!   

If you are thinking of selling, you really need to trust your Realtor® and do your homework when setting your list price and keeping your expectations in check when negotiating.  Of course, I can help with that!  If you are curious about the value of your home, visit Basking Ridge Real Estate to review historic sales data and to request information about the value of your Basking Ridge home.

I hope we can get acquainted soon!  Remember, I always have time for referrals as well; maybe you know somebody who is considering a move.  Though my home base is Basking Ridge, I do lots of business in the surrounding areas (Bedminster, Long Hill, Bernardsville, etc.) and what I don’t cover myself, I can call in my favors!

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I am working on a market analysis for a listing appointment scheduled for Wednesday night.  The property is a lovely expanded bi-level with over 3000 square feet of living space.  Updated bathrooms and a kitchen with a very recent face lift – I am looking forward to getting it on the market!  Here is some of the analysis I have done so far.

Bernardsville, NJ Market Snapshot

 5 properties under contract since 10/30/2009 

1. 9 Sunset Dr $399,900, Ranch
2. 71 Anderson Hill Rd.  $449,900, Cape Cod
3. 26 Essex Ave $479,000, Ranch
4. 33 Timber Rock Trl $859,000, Colonial
5. 8 Harvey Drive $923,000, Colonial

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: 

Available:

 Sold:

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

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