Basking Ridge, NJ Real Estate News

By Penny Toombs, ABR,AHS,e-Pro
(Coldwell Banker)
115 Lake Road             $499,000              $470,000                 11/24/2009 44 Woodstone             $549,000               $510,000                11/16/2009 33 Compton Ct.            $569,000               $540,000                11/16/2009 56 Dryden Road           $659,000               $630,000                 11/23/2009 32 Wedgewood            $699,000               $680,000                11/19/2009 30 Stacy Lane               $834,500               $801,000                11/24/2009 19 Morrison                   $920,000              $910,000                11/23/2009 82 S. Stonehedge        $1,295,000            $1,185,000              12/4/2009 8 Rockridge                   $1,899,000           $1,625,000              11/16/2009
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By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
    Somerset County NJ Real Estate You need to have the best representative possible to assist you with buying or selling your home. We are dedicated, full time sales associates very familiar with the Somerset County housing market. Our experience will help insure a smooth process. Please complete the following form below to get information about the real estate market in the your towns of interest: COMPLETE INFO UPDATED DAILYCurrent Listings Info Luxury New Homes Custom Build A New Home Land & Building LotsNew Jersey EstatesAll New Jersey HomesReal Estate Listings BlogsReal Estate Info BlogsOpen Houses & DirectionsOur Testimonial LettersGoing Green/ Complete InfoFollow us on Twitter  
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
What SOLD this week in Basking Ridge? What are the NEW listings? 12/05/2009 - 12/13/2009 EIGHT sales over the last nine days - not a bad week or so for Basking Ridge, NJ!  125 Alexandria Way, Spring Ridge Condo, $249,90059 Sycamore Ct, The Cedars Townhouse, $340,000195 Smoke Rise Road, Single Family Home, The Hills, $549,9994 Richmond Drive, Patriot Mews Townhouse, $675,00020 Granville Way, Single Family Home, $815,00036 Cobble Ln, Single Family Home, The Hills, $865,00014 Stoneview Ct, Single Famiy Home, $997,900164 Liberty Corner Rd, Single Family Home, $1,499,000 There are an additional 5 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 site for more ...
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By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
NORTH/ CENTRAL NEW JERSEY REAL ESTATEREADY TO BUY OR SELL REAL ESTATECONTACT NJ ESTATES REAL ESTATE GROUP AT NJESTATES@GMAIL.COM Contact Us. CLICK ON PICTURE OR LINKS BELOW FOR CONTACT INFO COMPLETE INFO UPDATED DAILY Current Listings Info Luxury New Homes Custom Build A New Home Land & Building Lots New Jersey Estates All New Jersey Homes Real Estate Listings Blogs Real Estate Info Blogs Open Houses & Directions Our Testimonial Letters Going Green/ Complete Info Follow us on Twitter Somerset County NJ Real Estate Union County NJ Real Estate Morris County NJ Real Estate New Jersey Estates/ Weichert Realtors Watchung Office 908-561-5492
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
« Home Sales Data 11/28/2009 - 12/04/2009 Same as last week there were only TWO sales here in Basking Ridge: 17  Clark Court, The Hamiltons townhouse , LP $469,999117 Cross Road, Single Family Home, LP$565,000 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. Only 11 show as being in Attorney Review - I have a deal at the attorneys but the listing agent has chosen not to mark the property as such.  This is a good time for me to remind you that the data I report is only as accurate as what is in the MLS, or what I can add from personal involvement in any deal. Please contact me if you would like more information about any of these Basking Ridge homes or visit my Baskin...
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By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
This week it's all about sales. They're up in all four major regions of the country, and we're even seeing bidding wars breaking in some scattered markets, according to the latest survey from the National Association of Realtors. NJ EstatesReal Estate Group Paul Stillwaggon December 2009 LINKING THE LATEST TECHNOLOGYTO OLD FASHIONED SERVICE Copyright © 2009 Realty TimesAll Rights Reserved. Sales of single family homes, townhouses, condos and co-ops surged by a little over 10 percent in October, and were 24 percent above where they were a year before. Closed transactions rose by nearly 12 percent in the Northeast, 14. 4 percent in the Midwest, 12.7 percent in the South and by 1.6 percent in the West. Why the big jump in activity? The number one reason, according to Dr. Lawrence Yun chief...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
« The Tax Credit and Multi-family homes 11/21/2009 - 11/27/2009 I am back from a long weekend spent with family; hoping that my readers have enjoyed their long weekend as much as I did!  I think that most buyers were also spending time with family - as there were only TWO sales last week here in Basking Ridge: 29 Sunset Lane, Single Family home, LP $459,00057 Huntington Road, Single Family home - the Hills, LP $719,000 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. I guess not everyone was only thinking Turkey last 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 in...
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By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
The single most important skill for a real estate agent is sales ability. No matter where you are in your real estate career, decide right now to master the skills of selling in order to fuel your success.   It's hard to believe, but it's true, that more than 95% of agents lack top-level real estate sales skills. The reason I know this is because I coach some of the best and highest-earning agents in the world, and even they believe their sales skills can use improvement. The difference between them and other agents is that they realize that sales skills are vital to success and they continuously seek excellence in this area. To follow their example, make it your priority to develop and constantly improve your sales skills, especially in these areas: Develop sales skills to secure appoi...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
Just like there are many types of buyers - from investors to first timers - there are also many different types of homes available for purchase. Certain buyers choose a multi-family home so they can earn income renting out the second unit or if they want to live close to a relative, but not share a living space. Because the law states that a buyer must use their new home as a principal residence in order to claim the tax credit, those considering a two-family dwelling may wonder if they are eligible. According to the Internal Revenue Service, these buyers may qualify for the tax credit for the unit they use as their principal residence, but cannot claim the credit based on the full purchase price. To figure out the amount of the tax credit that can be claimed, a buyer must divide the pu...
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By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
This study examines the traditional compensation model for real estate brokers under which both the listing and buyer brokers are paid by the seller based on a percentage of the property sales price. This study examines the traditional compensation model for real estate brokers under which both the listing and buyer brokers are paid by the seller based on a percentage of the property sales price. Read more: http://ideas.repec.org/a/kap/jrefec/v35y2007i1p7-22.html Paul Stillwaggon, For All Your Real Estate Needs Contact New Jersey EstatesReal Estate Group E-mail: njestates@gmail.comWeb: http://www.newjerseyestates.net908-561-5492 (Paul S) 908-310-1358 (Cell) NJ Estates Real Estate GroupWeichert Realtors908-561-549255 Stirling Road, Watchung, N.J. 07069 Equal Housing Opportunity Current L...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
11/14/2009 - 11/20/2009 Six properties went under contract this past week in Basking Ridge: 3 Commonwealth Drive, Spring Ridge, $244,90019 Dayton Street, BANK OWNED single family, $339,900 (multiple offers)101 Countryside Drive, $364,00051 Aspen Drive, town home, $469,00024 Princeton Court, town home $725,00076 Huntington Road, The Hills, single family, $725,000 There are an additional 8 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 site for more information on what has sold by month over the past year. New to the Basking Ridge market are the following 8 properti...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
The website, www.Basking-Ridge-Real-Estate.com is about to see some enhancements!  We are working on adding quarterly reports - graphical representations of sale trends, list to sale price ratios, assessments, etc.  Please comment if there is anything in particular you'd like to see. Additionally, I will be offering an opportunity for you to receive a Market Snapshot - for your home, or for a property which you might be interested in purchasing.  These market snapshots are easy to read and will be delivered at regular intervals so you can monitor activity in a given neighborhood.  Click here for an example or here to request one of your own! If you are considering a move, please contact me for information about homes for sale in Basking Ridge, the tax credit, the purchase process - or a...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
I fielded a question today about whether open houses work and if they should be held weekly.  I absolutely believe in open houses! They capture buyers who wouldn't otherwise see your home - either buyers not yet working with a Realtor, or buyers who have their agents looking for something so specific that they may not recommend your property. A person might walk through your home and call their sister or their best friend to tell them about it. You never know where your buyer may come from, so I think it is important to use every tool possible to get the word out about your house and all it has to offer!  It is very hard to predict how the foot traffic will be - I've hosted open houses with only directional signs and internet advertising and have had ten parties through - I've hosted op...
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By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
McLean, VA - Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.91 percent with an average 0.7 point for the week ending November 12, 2009, down from last week when it averaged 4.98 percent. Last year at this time, the 30-year FRM averaged 6.14 percent. The 15-year FRM this week averaged 4.36 percent with an average 0.6 point, down from last week when it averaged 4.40 percent. A year ago at this time, the 15-year FRM averaged 5.81 percent.  The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.29 percent this week, with an average 0.6 point, down from last week when it averaged 4.35 percent. A year ago, the 5-year ARM averaged 5.98 percent.  The one-year Trea...
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By Penny Toombs, ABR,AHS,e-Pro
(Coldwell Banker)
Beware of the high price tactic! It has been used for years and continues to hurt uninformed sellers. Once you read this page you will not only be able to see when and why this strategy is being used on you but now you will be able to profit by avoiding it! This tactic is also called "Buying Your Listing". HOW YOUR ASKING PRICE AFFECTS YOUR SELLING PRICE There are 4 common strategies that most sellers use to price their homes. It is unwise to assume that a higher asking price will net you a higher selling price. In fact, often this equation works in reverse, especially if you're not paying attention to what the market is telling you. Remember, you cannot "fool the market" with a high price. Please consider these facts when you set your asking price. 1.) Clearly Overpriced - Every seller...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
11/07/2009 - 11/13/2009 Only 2 properties went under contract this past week in Basking Ridge: 76 Liberty Corner Road, Single Family Home, listed for $395,000, DOM 13*32 Princeton Court, Patriot Mews Town house, listed for $695,000, DOM 27 * 76 Liberty Corner Road was relisted after a six month listing that started at $469,900 and reduced to $419,000 - interesting that it sold in 13 days once it was brought down under $400,000.  Watch my website for it's sold price (I won't know until it closes). 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.  I think it is interesting that although there were NINE properties in attorney review this time last week - that only two h...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
These frequently asked questions have been taken directly from the NAR Government Affairs Division website. Question: Existing homeowner credit: Must the new house cost more than the old house? Answer: No; Individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.  So will homeowners who are downsizing. Question: I am an existing homeowner.  On October 25, 2009, I signed a contract to purchase a new home.  I have lived in my current home for more than 5 consecutive years and am within the new income limits.  I will go to settlement on November 20.  Will I qualify for the new $6500 credit? Answer: Yes. The exiting homeowner credit goes into effect for purchases after the date of enactment (when the bill was sig...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
« Mortgages 101 10/31/2009 - 11/06/2009 The following 6 properties went under contract this past week in Basking Ridge (twice as many as last week!): 124 Smithfield Court, Spring Ridge Condo listed for $289,900224 Arrowood Way, The Cedars Townhouse, listed for $360,00011 Fairbanks Lane, The Barons Townhouse, listed for $449,99949 Spencer Road, Single Family Home, listed for $459,00036 Dorchester Drive, Townhouse in The Hamiltons, listed for $482,6252 Raleigh Court, Townhouse in The Hamiltons, listeed for $524,000 There are an additional 9 properties that are working through attorney review (all under $650,000) 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 ...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
« November Home Buyer Seminar Mortgages 101 I always tell my clients that "I sell houses, not loans" and direct them to my favorite Weichert Financial Services manager - Brian Wagenseller, who can be reached at 908-310-5122.  Brian sent out a newsletter this afternoon so I thought I would share some highlights of available mortgage options: State bond programs (not available in every state)- Very popular programs.  Loan amount limits and downpayment requirements vary.- NJ, PA, VA and MA have monetized the tax credit to be made available at closing. FHA financing- As little as 3.5% down.  Loan amounts up $729,750 in certain areas. VA financing- No Money Down up to $417,000. Conventional financing both conforming & jumbo- Loan amounts up to $729,750 Home Improvement Financing- An FHA 203(...
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By Jennifer Blanchard, No Obligation, Just Information
(Berkshire Hathaway HomeServices NJ Properties)
You are invited to a free Home Buyer Seminar Saturday, November 21st at 11:00 in my office at 22 Henry Street in Basking Ridge. I will be there along with other real estate professionals, including my broker, our mortgage representative and a real estate attorney. We'll address local market conditions and buyer incentives, including the Federal Tax Credit as well as current mortgage products.  If you want to get ahead of the game, click here to search homes for sale in all areas covered by the Garden State MLS.   Space may be limited, so please RSVP today by calling me directly at 908-432-0318 or emailing me at jennifer@jenniferblanchard.com. Please let me know how many will attend and if you have can stay after the seminar or come back on Sunday to get started! Tweet This Post
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