Posts Tagged ‘basking ridge real estate’

Nine Basking Ridge properties went under contract during this past week.

There are an additional three properties working through attorney review; interestingly enough there is one at each price point: a condo listed for $240,000, a move-up single family home listed for $649,000 and a luxury property listed at $1,299,900.

The following properties closed during the same time frame:

3 Commonwealth Drive, Spring Ridge Condo, sale price $240,000
193 Irving Place, Society Hill townhouse, sale price $299,9999

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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10/24/2009 – 10/30/2009

3 properties went under contract this past week in Basking Ridge (another quiet week here in town)

There are an additional 6 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details.  One thing that I have noticed recently is that properites are staying in attorney review longer; I have seen listings go from attorney review to under contract and then close in a matter of days after sitting in attorney review for a long time.  22 Colonial Drive and 19 Morrison Street are STILL in attorney review!!  And, 96 W Oak Street went under contract AND closed this week.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate site for more information on what has sold by month over the past year.

As of this morning there a total of 186 listings showing active in Basking Ridge in the MLS. With 35 going under contract in the last 30 days, Basking Ridge market absorption is 5.3 months; clearly a stable market. 

Please contact me if you would like to discuss my strategy for negotiating contracts in today’s real estate market.

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

If you are thinking of moving, I can provide a free market analysis of your home’s value  in today’s market.

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I recently attended a Weichert sales meeting at which a local real estate attorney was a guest speaker.  He was there to help us help our clients navigate through short sales.  He is one of the only attorneys that I know of who has a dedicated staff member to communicate with the banks and keep on top of each transaction as it works its way through the myriad of steps at each bank. 

If you are in a position where you think foreclosure is the only way out – please contact me first – I can put you in touch with the right resources to help you make that decision.  A short sale may be right for you instead.  If that is the case, it is imperative to get the house on the market as soon as possible since the first thing on the following list is an exectued contract of sale!

To move forward with an attorney’s support for a short sale, you will need to have the following documents:

1. Copy of fully executed contract.  Don’t worry if the negotiated sale price is lower than the amount of your mortgage.
2. Hardship Letter.  This is writted by you, detailing the hardship you are facing in keeping up with your mortgage payments
3. Copy of the last two years tax returns
4. Copy of the last three months pay stubs
5. Copy of the lat two months of bank statements
6. Written authorization for your attorney to contact the bank and negotiate the short sale
7. HUD-1 Statement (the attorney will prepare this)
8. Copy of the last two months mortgage statements (for the first and second loan if applicable)
9. Copy of the listing agreement
10. Complete list of all debts including monthly expenses
11. Copy of your 401k and retirement plan(s) statements
12. Market analysis prepared by your realtor
13. Commission bills provided by your realtor for both the buyer and seller agent
14. Back title: includes your deed, the survey and your title insurance policy

The sooner you have all of this information compiled and sent to your attorney, the better. If you want to contact the bank before hiring an attorney you can do that too – the department you want to contact is Loss Mitigation.  I strongly recommend using an attorney with EXPERIENCE in this process – there are lots of phone calls required, things move very slowly and then all of a sudden very quickly.  It is often difficult to stay on top of where things are in the process.  Except for the initial fee, I believe the balance of of the attorney fees as well as the real estate commission will be calculated into the total debt that will be resolved by the short sale.

Information on this post was provided by Rafael J. Betancourt of Triarsi, Betancourt, Walsh & Wukovits, LLC a law firm in Cranford, NJ.

If you are considering a short sale, click here for an estimate of your home’s value in today’s market.  This information, along with your mortgage history will help you determine the best course of action.

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10/10/2009 – 10/16/2009

10 properties went under contract this past week in Basking Ridge

There are an additional 6 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details.  There are only 187 properties currently for sale in Basking Ridge, this is really low – but I expect that given the season.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate website for more information on what has sold each month over the past year.

As of this morning there a total of 187 listings showing active in Basking Ridge in the MLS. With 35 going under contract in the last 30 days, Basking Ridge market absorption is 5.4 months; clearly a relatively stable market. 

Please contact me if you would like to discuss my strategy for negotiating contracts in today’s real estate market.

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

If you are thinking of selling your home, please click here for a free market analysis of it’s value in today’s market.

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10/03/2009 – 10/09/2009

10 properties went under contract this past week in Basking Ridge:

There are an additional 10 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details.  There are only 193 properties currently for sale in Basking Ridge !

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate website for more information on what has sold each month over the past year.

As of this morning there a total of 193 listings showing active in Basking Ridge in the MLS. With 28 going under contract in the last 30 days, Basking Ridge market absorption is 6.9 months; I still maintain that Basking Ridge is a very stable market. 

Please contact me if you would like to discuss my strategy for negotiating contracts in today’s real estate market.

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

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9/26-10/02/09

5 properties went under contract this past week in Basking Ridge.

There are an additional 14 properties that are working through attorney review.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate website for more information on what has sold each month over the past year.

As of this morning there a total of 194 listings showing active in Basking Ridge in the MLS. With 24 going under contract in the last 30 days, Basking Ridge market absorption jumped up to just over 8 months a good example of why it doesn’t always make sense to look at this metric every week; it’s the trends that are most important.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge website to sign up for listing alerts in and around Basking Ridge or to search homes for sale in Basking Ridge.

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09/19/2009 – 09/26/2009

The following 6 properties went under contract this past week in Basking Ridge:

3152 Valley Road, Single Family Home, listed for $489,000
16 Cannon Court, Hamilton Ridge Townhouse, listed for $525,499
118 S. Fairview Drive, Single Family Home, listed for $679,000
10 Fieldstone Drive, Single Family Home, listed for $799,900
150 Bernard Drive, Single Family Home, listed for $1,078,500
30 Royal Oak Drive, Single Family Home, listed for $1,999,000

There are an additional 12 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details.  There are only 199 properties currently for sale in Basking Ridge – this is the first time we have dipped below 200 in quite some time!

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate website for more information on what has sold each month over the past year.

New to the Basking Ridge market are the following properties:

144 Woodward Lane, Society Hill Condo, $282,00
266 Penns Way, Society Hill Townhouse, $349,999
72 Sycamore Court, The Cedars Townhouse, $369,900
62 Church Street, Single Family Home, $425,000
49 Peachtree Road, Single Family Home, $449,900,
16 Mayflower Drive, Hamilton Crest Townhouse, $479,000
29 Sunset Lane, Single Family Home, $525,000
32 Wedgewood Drive, Single Family Home, $699,900 (relist)
18 Benedict Crescent, Amherst Mews Townhouse, $699,900 (relist)
158 Morristown Road, Single Family Home, $724,000
35 Galloping Hill Road, Single Family Home, $789,900 (relist)
14 Stoneview Court, Single Family Home, $997,900
26 Haas Road, Single Family Home, $1,150,000 (relist)
340 Mountain Road, Single Family Home, $1,749,000
1129 Woodman Lane, Single Family Home, $1,875,000 (relist)

As of this evening there a total of 199 listings showing active in Basking Ridge in the MLS. With 34 going under contract in the last 30 days, Basking Ridge market absorption is 5.9 months; holding steady at just under 6 months – a very balanced market.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.

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Hamilton Crest Townhouse – three bedroom floor plan – two bedrooms and a loft. Finished basement.  92 Dorchester Drive; open Sunday, 1:00-5:00.

If you are thinking about buying or selling a home, contact me today for all of your Basking Ridge real estate needs or visit my website to search homes for sale in Basking Ridge and surrounding areas.

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9/12-9/18/09

The following 7 properties went under contract this past week in Basking Ridge – that’s three more than the week before!  Maybe my prediction will prove true!

156 Irving Place, Society Hill Condo, listed for $241,000
186 English Place, Society Hill Condo, listed for $259,000
2406 Privet Way, The Cedars Condo, listed for $269,000
406 Penns Way, Society Hill Townhouse, listed for $365,900 (my sale!)
324 Alexandria Way, Spring Ridge Duplex, listed for $479,900
25 Dryden Road, Single Family Home, listed for $574,500
130 Culberson Road, Single Family Home, listed for $1,100,000

There are an additional 12 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate website for more information on what has sold each month over the past year.

New to the Basking Ridge market are the following 8 properties:

367 Potomac Drive, Spring Ridge Condo, $252,500
49 Queen Anne Drive, Single Family Home, $597,900
26 Huntington Road, Single Family Home in the Hills, $629,900
297 Lyons Road, Single Family Home, $719,000
71 Riverside Drive, Single Family Home, $799,000
20 Stacy Lane, Single Family Home, $829,000
124 Church Street, Single Family Home, $939,000
89 Morristown Road, Single Family Home – New Construction, $1,150,000

As of this morning there a total of 200 listings showing active in Basking Ridge in the MLS. With 35 going under contract in the last 30 days, Basking Ridge market absorption is 5.7 months -not much different from last week, which again, makes sense given the season.  It doesn’t always make sense to look at this metric every week; it’s the trends that are most important.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge website to search homes for sale in Basking Ridge and surrounding areas.

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Welcome back to School!  September is always a very busy time of the year – but in the Real Estate World, it really takes a few weeks to ramp up again from the slow summer months.

The following 4 properties went under contract this past week in Basking Ridge. Again, I’m not surprised that there hasn’t been more activity given the time of the year.  I do predict a little bit of an upswing this month; we’ll see if I’m on target.

119 Potomac Drive, Spring Ridge Condo, $249,000, DOM 54
287 Penns Way, Society Hill Townhouse, $298,900,DOM 355
75 Dorchester Drive, Hamilton Crest Townhouse, $539,000, DOM 139
3 Heritage Court, Single Family Home, $1,399,000, DOM 30 (was a relist)

There are an additional 11 properties that are working through attorney review.

Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate website for more information on what has sold each month over the past year.

New to the Basking Ridge market are the following 14 properties:

233  Arrowood Way, The Cedars Townhouse, $369,900
8 Brookside Ave, Single Family home, $455,000
31 Cannon Court, Hamilton Ridge Townhouse, $464,900
4 Paine Court, Hamilton Woods Townhouse, $497,000
14 Cedar Street, Single Family Home, $649,000 relist
25 Alder Lane, Single Family Home – The Hills, $649,999
21 Harrison Brood Drive, Single Family home, $699,900 relist
8 Austin Drive, Amherst Mews Townhouse, $719,900
71 Riverside Drive, Single Family Home, $799,000
115 South Alward Ave, Single Family Home, $799,000
84 Queen Anne Drive, Single Family Home – new construction, $1,249,000
28 Fawn Lane, Single Family Home, $1,450,000 relist
164 Liberty Corner Road, Single Family Home, $1,499,000 relist
30 Royal Oak Drive, Single Family Home, $1,999,000

As of this morning there a total of 204 listings showing active in Basking Ridge in the MLS. With 35 going under contract in the last 30 days, Basking Ridge market absorption is 5.8 months -not much different from last week, which again, makes sense given the season.  It doesn’t always make sense to look at this metric every week; it’s the trends that are most important.

Please contact me if you would like more information about what is for sale in Basking Ridge or visit my Basking Ridge website to sign up for listing alerts in and around Basking Ridge.

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