Archive for the ‘Neighboring Markets’ Category

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.

A new study by Yahoo! Real Estate shows that people still value homeownership. In fact, 81 percent of the current and prospective homeowners surveyed said that owning a home is still a part of the American dream. In addition, buyers are now more confident that their dream home is within reach due to today’s low mortgage rates and affordable home prices. Of those surveyed, 72 percent said they already live in their dream home, or will own it someday.

Additional findings from the Yahoo! Real Estate Home Horizons study include:

• Half of all respondents are looking for “green” or energy-efficient features in their dream home, as they aspire to reduce their carbon footprint. This was the most popularly cited feature.
• 57 percent of respondents said they were very satisfied with where they live, while 35 percent were somewhat satisfied and 8 percent were unsatisfied.
• When asked why they want to move, 45 percent of buyers said they want to live in a larger space. Other popular reasons were a desire to live in a home that better suited their lifestyle (42 percent) and to live in a better neighborhood (30 percent).

Based on the results of the study, Yahoo! Real Estate expects 2012 to be the year in which demand for green homes, energy-efficient appliances and lowcarbon impact home building materials really take off.  Are you ready for the
change?

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Search for Basking Ridge homes for sale.

Search Basking Ridge townhouses for sale.

Search Bedminster homes for sale.

See what has sold in Basking Ridge

The Basking Ridge Real Estate team from Weichert (Jennifer Blanchard, Judi Jensen and Gerry Light) are working with qualified buyers who are looking for homes in the following locations:

• Bedminster: Stone Run and Edgewood up to about $500,000
• Bedminster: Autumn Ridge up to about $700,000
• Basking Ridge: any four bedroom single family home in the Hills specifically including the Carlisle and Liberty Ridge sections up to about $750,000

15 Frohlin Drive – a spacious split level on a nice flat lot in a very desireable northern Bridgewater location.  In fact, this home has a Basking Ridge mailing address. Great New Price: $397,000!

Click here to view Basking Ridge homes for sale

Last night, I spent some time looking at Bridgewater market data for the month of September:  There were 62 new listings, 47 listings were price adjusted and there were 29 contract sales. There are currently 193 active listings (single family homes), there were 21 contract sales in the last 30 days and there are 10 properties with offers/contracts in attorney review.  That’s an absorption rate of 9 months (6.2 if we adjust for the attorney review properties and assume they were negotiated in the last 30 days).

I also narrowed it by price range – looking at listings and sales between $400,000 and $500,000.  There are 48 active listings and there were six sales in the last 30 days.  That’s an absorption rate of only 6 months.  19 of the listings in this price range are priced between $425,000 and $450,000 with six listings exactly at $499,000 and four exactly at $450,000.   Average days on market for these properties is about four months – they aren’t selling either….

I did this because I have a listing that is currently priced at $459,000 and I am trying to determine what to do next.  We have great open house traffic but we are not getting agent showings.  With absorption rates as low as six months; we should be getting more activity and I’m very disappointed in the lack of agent showings.  It’s only been two weeks since we adjusted the price – but we only have about six weeks left in the fall market

What would you do?

Welcome Back, September, it’s good to see you again!

As much as I love the slow laziness of the summer months, by the time September rolls along I’m really happy to see it!  Things start happening again: school, sports, routine, and…..REAL ESTATE!

There have been sixteen new listings and ten price adjustments in Basking Ridge since the first of the month.  And, there have been 11 contract sales.  Traditionally we see an uptick in market activity between Labor Day and Thanksgiving.  So if you are looking to make a move, it might pay to take advantage of the Fall Market in Basking Ridge.  I am happy to provide a listing of current properties or an evaluation of the value of your home in the current market.  No obligation, just Information!

Please visit one of today’s featured listings in Basking Ridge:

11 Archgate Road: $699,000 – from 1:00 – 5:00 – Alma and I will be more than happy to show you this wonderful center hall colonial with an amazing list of upgrades and a terrific location within walking distance of Pleasant Valley Park.

267 English Place: $289,900 – from 1:00 – 5:00 – Carol and I will be more than happy to show you this wonderful two bedroom end unit in Society Hill I.  FHA approved and completely updated!

I will be floating between these properties and a listing in Bridgewater: 15 Frohlin Drive which is just off of Washington Valley Road which will be hosted open by Kate between 1:00 and 4:00 today.  Stop by and visit this large split level home on a nice level lot in one of the best Bridgewater neighborhoods.

I am looking forward to talking with you when you are ready to make a move!

The blog has been sorely neglected – I’ve been juggling summertime family activities with lots of summertime sales activities!  I promise to be back soon… in the mean time follow the links for recent sales sales data:

Bedminster single family homes

Bedminster townhouses and condos

Basking Ridge Sales data

While I will be off today, Alma Aguayo is working!  She’s hosting an open house at my listing on Archgate Road in Basking Ridge – www.11ArchgateRoad.com – from 1:00 until 4:00.  This is a fantastic house with a great yard and lots of updates that you wouldn’t even consider!  Nothing to do but move in and enjoy this fine home!

25 Dayton Crescent – four bedroom, two full bath cape cod with terrific backyard.  Basement, garage, possible fifth bedroom.  Updated kitchen.  If you haven’ t seen this home and you are in the market for a house in Bernardsville, then please don’t miss this opportunity!  Offered at $449,000!

Coming up for air – the spring market finally picked up – to let you know that we have a great new price on 100 Old Army Road in neighboring Bernardsville! 

New Price: $849,900

Market Activity

As I had predicted we are seeing an increase in new listings – finally, given that the weather has been better!  There have been 20 new listings here in Basking Ridge since April 1st and five contract sales in the same time period.  Absorption rate – an indicator of market activity - has fallen under 4 months to 3.8 months of inventory (179 total listings and 47 contract sales in the last 30 days.  Basking Ridge is inching into a seller’s market!  But – given buyer activity and conversations I am still having with buyers and sellers, it’s the odd transaction here in town where the seller has the upper hand.

This week’s open houses

My listings being held open on Sunday, 4/10 between 1:00 and 5:00:

384 Penns Way, Basking Ridge

Dani will be there from 1:00-5:00

This is a 250 model – two bedrooms and two and a half baths.  It is a short sale, so you must have a little patience – but there is a potential for a great deal!

100 Old Army Road, Bernardsville

Gabby will be there between 1:00 and 4:00

This 1955 colonial has a traditional floorplan, an updated kitchen and an au pair suite!

For more information on the market in Basking Ridge, visit Basking Ridge Real Estate today!