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This week’s featured open houses include 14 Village Drive and 384 Penns Way; both properties in Basking Ridge will be open from 1:00-4:00.
14 Village Drive is in Lord Stirling Village – a development of 150 homes, located north of the Great Swamp, just off of South Maple Ave. The community features a pool and tennis courts. Dogs are not allowed in the units, inside cats are okay. This two bedroom two and a half bath town house shows like a model home and is being offered at $355,000.
384 Penns Way is in Society Hill; a 250 model townhouse it features two bedrooms each with its own full bath. An eat in kitchen, living room/dining room combo and a brilliant offering price of only $260,000. This is an amazing deal for a two level townhouse in Basking Ridge.
If you are considering a move into or out of Basking Ridge, NJ, consider signing up for listing alerts. I can send you new listings as they come on the market; I can also send contract sales and information about properties when the close so you can track sales data. Or, let me do it for you – my Basking Ridge Home Sales data is updated early each month.
There is some exciting springtime activity going on here in Basking Ridge! The market has absolutely picked up – absorption rates are hovering under 5 months, with less than 3 months in the lower-priced condo market.
I listed 14 Village Drive in Lord Stirling Village last week. This unit is bright and sunny, with many rooms freshly painted and an updated kitchen! Features include cherry cabinets, tile backsplash, neutral bathrooms, vaulted ceilings, skylights and recessed lighting. The private patio is accessible from both the kitchen and den during the warmer weather it feels like another room! The den features a french door and a fireplace – it’s my favorite room in the house! The second bedroom features a walk-in closet with built-in organizers and there is extra storage in the utility room. 14 Village Drive is centrally located close to Basking Ridge town center, the Bernards Township library, parks, schools, public transportation and major highways (rts 287, 202/206 and 78).
Lord Stirling Village covers 52 acres just south of the Great Swamp nature preserve. A small community comprised of only 150 units featuring a pool and tennis courts. Association fees include water and garbage collection.
If you are considering a move to Basking Ridge, there are many town houses and condos for sale; or search for single family homes instead.
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!
It’s been a busy week – and it’s only Wednesday! On Sunday, I listed 384 Penns Way in Society Hill, Basking Ridge.
This is sure to be a great deal for someone! It needs some work – it is tenant occupied, it needs new carpet and some paint… plus some other handy-man type projects. It’s a short sale – so you need to be flexible on closing. But, I know we can make it happen!! Call me with questions.
I am also listing a colonial in Bernardsville – 100 Old Army Road – a charming home with an updated kitchen, a cozy breakfast area, a great deck and lots of other features. That one will be active and available this weekend.
The market is certainly starting to pick up – there are buyers out there — there was a new listing here in town this week, I showed it on Tuesday… you would have thought they were giving it away there were so many people waiting in line to get in for showings. I predict that it will sell over asking. It’s in great shape on a cul-de-sac and the price is JUST RIGHT. Perfect pricing generates lots of interest. It makes so much more sense to price it right than to price it just a little high to see what happens.
The best news of the week? The absorption rate in Basking Ridge fell to 4.4 months! Sellers – it’s time to get on the market! If you are thinking about it, now might be the time. I’m happy to help you determine the value of your home in Basking Ridge.
Considering a move? Preview search townhouses and condos for sale in Basking Ridge or search single family homes for sale in Basking Ridge. Then call me and I will help you through the process!
Only three properties closed here in town in the last week:
- 31 Countryside Drive – a one bedroom condo – listed for $197,000 closed for $1888,000
- 266 Potomac Drive – a two bedroom condo in Spring Ridge – listed for $248,500 sold for $232,500
- 3 Witherspoon Lane – a three bedroom town house in Amherst Mews listed for $849,000 closed for $825,000.
Several mortgage reps that I work with have published weekend specials – including a 30 Year fixed FHA at 5% (must have credit scores of at least 660).
If you are considering a move into or out of Basking Ridge, please contact me and so I can help get you started. Or click here to search homes for sale in Basking Ridge.
Is it summer yet?
The sun is out today – it might be cold, but let’s think ahead a few weeks…there is no better time than now to prepare for a season full of outdoor entertaining. An outdoor kitchen is one of the hottest trends in backyard living. Ranging from a simple barbecue island to a full kitchen with specialty appliances that allow homeowners to do all the food preparation outside, there are a variety of ways to create your own outdoor gathering spot.
Here are some things to consider when planning an outdoor kitchen:
- It is very important to choose appliances that are designed for outdoor use. For example, outdoor refrigerators need to maintain consistent temperatures in an unstable environment, and also need to be weatherproof so they hold up to the elements.
- It is equally important to ensure that there is adequate ventilation for appliances. For example, built-in refrigerators are front-vented so they require little to no clearance on the top, sides, and rear of the unit, but freestanding models require at least one inch of ventilation on all sides.
- Don’t forget to factor in additional costs for adding electrical outlets, and running a water supply line or a drain system.
- The safest bet is to select a licensed and insured installer. Not only will they be aware of any do’s and don’ts, you will also have peace of mind knowing that you are working with professionals who will stand behind their work if something goes wrong.
Looking for something fun to do tonight?
The William Annin School production of Disney’s Camp Rock is this weekend. I understand that there are still tickets available at the door!
I can honestly say – finally – that I have been busier in the last two weeks than I have since before the December holidays! It must be the break in the weather. I know I feel better when the sun is out – and I feel better when I’m busy!
Here are some notable happenings in Basking Ridge Real Estate and in Basking Ridge in general:
- 11 properties have gone under contract since March 1st; at all price points including two one bedroom condos that were listed under $200,000, two duplexes in the Cedars, several townhouses and a single family home in the Hills.
- 331 English Place and 381 Lyons Road closed this month. On my webiste, I have an analysis of what sold in Basking Ridge last month.
- 353 Penns Way – the largest model in Society Hill will be held open on Sunday, 3/13, from 1:00-4:00.
- On Saturday, 3/12 at 11:00, we will be hosting a home buyer/market update seminar for anyone – buyers and sellers – who are interested in learning more about the current real estate market in Basking Ridge. RSVP by clicking here to send me a message.
- I am working with a lovely family who is trying to move here from Connecticut. We can’t find the house that is just right for them. If you are considering a move and you currently live in a newer – or renovated – four bedroom colonial here in Basking Ridge, please let me know. Maybe we can make two families happy!
If you are planning ahead and looking for something fun to do that isn’t real estate related, you can support the Liberty Corner Fire Company by attending their next Comedy Night! It’s planned for Saturday, April 2nd at 7:00pm. Tickets are $40 in advance ($45 at the door) and you must be 21 or older.
Interest rates are still threatening to climb – if you are considering a move into or out of Basking Ridge, now is the best time to start looking at new listings in Basking Ridge or to assess the value of you Basking Ridge home in today’s market. I can help on both counts – of course!
The March issue of NJ Monthly features a special advertising section highlighting the 2011 Five Star Real Estate agents – I’m on page FS-9. This select group of agents represents only 2% of licensed agents in NJ and is based on survey results which asked recent home buyers to evaluate their agent based upon nine criteria: customer service, communication, finding the right home, integrity, negotiation, marketing the home, market knowledge, closing preparatino and overall satisfaction. Only original surveys in their specially designed envelopes were accepted as valid – so there was no ballot stuffing!
If you are considering a move into or out of the Basking Ridge area, please call your local FIVE STAR agent (aka: ME).
25 Marilyn Street, Basking Ridge
Another one SOLD here in town! This four bedroom bi-level home set on almost an acre closed today for $577,000.
You too can be a happy homeowner! Search for what’s available in Basking Ridge or see what your home’s value is in today’s market.
A shout out to my partner, Gerry Light for helping to make it happen!
There have been seven closings here in town this month – there would have been eight, but I had a client postpone, so we’ll have at least one more by Thursday!
- 7 Riggs Court, Maple Run townhouse, listed $450,000, closed $425,000
- 79 Spencer Road, single family home, listed $549,000, closed $505,000
- 15 Lexington Road, single family home, Rebel Hill, $549,000, $526,500
- 453 King George Road, new construction, $639,000, $618,000
- 189 W Oak Street, complete renovation, $749,000, $715,000
- 149 Berkeley Circle, single family home, $799,000, $750,000
- 137 Woodman Lane, single family home, The Hills, $1,795,000, $1,630,000
I have a hunch that the Spring Market is on it’s way… a little bit of a late start, but as the weather warmed up this week I started getting some calls. I’ve got buyers ready, I’ve got sellers getting ready… and my weekends are booking up early!
I’m looking forward to speaking with you as you start your search for Basking Ridge homes for sale or if you are curious about the value of your home in today’s market.
According to Remodeling magazine’s 2010-2011 “Cost vs. Value Report,” even despite the challenging economy, investing in your home still pays off at resale – and it doesn’t have to cost a lot. The report also showed that home sellers consider first impressions to be a top priority, with nine out of the top 13 projects being exterior replacements that contribute to curb appeal and help attract buyers.
Based on interviews with real estate professionals throughout the country, the Remodeling report found that the top two projects were also the least expensive. A mid-range entry door replacement returns more than 102.1 percent of project costs upon resale, followed by a mid-range garage door replacement, at 83 percent.
While considered upscale, the third-best project, fiber-cement siding replacement, has been a consistently high erformer, recouping 80 percent of costs this year, and also showing the smallest cost increase of any project (less
than 1 percent).
The right remodeling project, when done well, also has the potential to make for a quicker sale and reduce negotiations with buyers over perceived shortcomings. Click here to access the “Cost vs. Value” website, where you can download data for 80 cities.
Some additional numbers for those of you who are wondering about that kitchen and baths – - a minor kitchen remodel (refacing cabinets, changing out hardware, replacing oven and cooktop, changing countertops, painting trim and refreshing the floor) returns almost 73%. The addition of a deck also returns about 73%.
Surprisingly, according to this study a bathroom renovation returns only about 53%.
Please note that these numbers are based on national averages. I will admit that I have a hard time getting my head around these numbers – - I think there are too many variables… but I suppose that it’s all relative. Projects that improve first impressions allow the biggest bang for the buck and kitchens are more valuable that bathrooms.
Visit Basking Ridge Real Estate to see what’s selling in town – new kitchens and bathrooms or not!