…”SO is it over? The three-year period of unrelenting home price declines: has it stopped? And is it possible that sales prices will go the other way in 2010?
Summit Real Estate 2009 Year in Review
February 8th, 2010 Categories: Buying a Home in NJ, Selling A Home in NJ, Summit Living
Summit NJ - Real Estate Trends - 2009 Year in Review
It was quite a year in real estate for Summit, NJ.
Not surprisingly, the higher end homes took longer to sell
while the most movement in home sales was
found at the lower (well for Summit anyway) priced homes.
Based on the records from the Garden State MLS,
the average selling price in 2009 was $930,999
(just 4% off 2008 prices.)
Buyers should be happy tho’,
as sales prices were at 98% of final listing price…
sellers and their agents are now much more in tuned
with right pricing here in Summit.
Homes Currently for Sale in Summit, NJ
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February 2010 This Month in Real Estate
February 8th, 2010 Categories: Buying a Home in NJ, NJ First Time Home Buyers, Real Estate News
Who is buying real estate along the Midtown Direct Communities?
First time home buyers have until April 30th
to be Under Contract and then must close by June 30th.
Are you ready?
Want to learn more about the towns along
the Midtown Direct Train line into NYC?
Contact Perri K. Feldman
973.650.4727
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Livingston Real Estate 2009 Year in Review
February 8th, 2010 Categories: Buying a Home in NJ, Commuting to NYC, Livingston Living, Recent New Jersey Home Sales
2009 Year in Review - Real Estate Trends for Livingston NJ
I am always asked: “What is so special about Livingston, NJ?”
Plenty, first my husband grew up there and graduated from Livingston High School.
His family still lives there as do many of my cousins.
So, OK I may be partial!
There are homes for sale at every price point…
whether you want:
single family homes, town homes, upscale senior communities
or in-town living.
Livingston is ranked in the Top 20 NJ High Schools.
Commuting to New York is EASY on the Express Bus from
The Livingston Mall (40 minutes)
or a short hop to Harrison and the PATH.
Some of my favorite restaurants are there
(Stretch’s, Livingston Bagel and Samurai Sushi)
If you are into Sports Memorabilia go to
Bob Beck’s Collectibles and tell him I sent you 
So how were 2009 home sales in Livingston, NJ?
Not bad, average sale priced dropped just a bit (6%)
from $637,002 in 2008 to $596,049 in 2009.
Surprisingly, 9 more homes sold last year (287)
It took longer to do so (72 vs 66 days).
As I watch the current flurry of early 2010 activity…
Now is the time to buy!
Current homes on the market in Livingston, NJ 07039
Livingston, NJ at a Glance
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Millburn Real Estate 2009 Year in Review
February 8th, 2010 Categories: Buying a Home in NJ, Commuting to NYC, Millburn & Short Hills Living, Recent New Jersey Home Sales
Millburn Real Estate Trends - 2009 Year in Review
With the 2009 real estate slump, less homes were sold in Millburn/Short Hills
than the previous year (223 vs. 260).
However, Millburn/Short Hills benefits from having the # 1 High School in New Jersey
In addition, the town boasts strong cultural events with the
Papermill Playhouse and Metropolitan Orchestra
and of course premium shopping downtown and at The Short Hills Mall.
That said, the average home sale price fell from $1,216,231 in 2008
to $1,160,406 in 2009.
Of course days on market increased as a result of the economy
to 73 up from 52 days in 2008.
The good news ahead for 2010…the phones are ringing
and the sellers that hesitated last year,
are providing exceptional buying opportunities
in the upcoming months…stay tuned.
Homes for Sale in Short Hills 07078
Homes for Sale in Millburn 07041
Shhhh….don’t tell anyone, but some wonderful homes
are about to come on the market.
Millburn/Short Hills at a Glance
Want to hear more? Call Perri K. Feldman @ 973.650.4727
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Maplewood 2009 Real Estate Year in Review
February 5th, 2010 Categories: Buying a Home in NJ, Commuting to NYC, Recent New Jersey Home Sales
Maplewood NJ 2009 Real Estate Market Trends chart
Maplewood NJ 2009 Real Estate Market Trends chart
I think it is fair to say that most real estate buyers and sellers
are glad that 2009 is behind us.
In Maplewood, NJ (07040), home prices have fallen far less than the national average. The ease of commute to New York City on the Midtown Direct train line and wonderful downtown have kept housing prices in line.
Based on figures released from the Garden State MLS, 232 homes sold in Maplewood, NJ in 2009 with an average list price of $474,645 and average sale price of $476,220 (only 6% off 2008).
Overall selling price was 97% of final asking price. Average days on market in Maplewood, NJ were 72 days.
2010 has rolled in with a bang in Maplewood, NJ with many multiple offers and homes under contract over the initial asking price.
Homes For Sale in Maplewood, NJ 07040
Want to learn more about real estate in Maplewood, NJ?
Call Perri K. Feldman @ 973.650.4727.
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2010 Real Estate Shows Optimism
January 23rd, 2010 Categories: Buying a Home in NJ, NJ First Time Home Buyers, Real Estate News
Real Estate is local.
We all know that.
But it is nice to see that Optimism is Back for 2010 Real Estate.
I was recently at a Real Estate convention in NYC and here is what the “experts” had to say:
Ha Ha, yes that’s me!
Enjoy!
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Optimism for NJ Real Estate in 2010
January 14th, 2010 Categories: Buying a Home in NJ, Commuting to NYC, NJ Mortgage Update, Real Estate News, Selling A Home in NJ
There is optimism in the air about the NJ real estate market for 2010 as reported in The New York Times by Antoinette Martin on January 10th.
…“Every county has its own story,” said Mr. Otteau, (market analyst, whose Otteau Valuation Group continuously tracks sales data in 21 counties for real estate companies.)
…Several brokers said they did not even think of real estate markets in terms of county lines. Perri K. Feldman, an agent with Keller Williams Realty, sees her primary turf as being towns running along the Midtown Direct Train line from Morristown to South Orange (Morris to Essex County).
Prices rose in that area late in 2009, Mrs. Feldman said; she originally saw a rush to meet the Nov. 30 deadline to ensure eligibility for a federal income tax credit. That federal stimulus program has since been extended; now buyers have until April 30 to enter into a contract for a new primary residence and June 30 to close on the home.”
What does this mean for you as a buyer in this market? If you see a home you like…Put in an offer NOW!!!
We are already seeing homes moving quickly in 2010 in South Orange, Maplewood, Millburn/Short Hills, Summit, Chatham and Madison.
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US News Ranks Top NJ High Schools
December 11th, 2009 Categories: Buying a Home in NJ, Education in NJ, Madison Living, Millburn & Short Hills Living, Summit Living
Congratulations to all of the high schools
along the Midtown Direct Trainline
that were awarded top honors by
US News & World Report
Silver Medals went to:
Chatham High School
Madison High School
Millburn High School
New Providence High School
Summit High School
To view all of the New Jersey Honored High Schools
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First Time Home Buyer Tax Credit Extended…
November 5th, 2009 Categories: Buying a Home in NJ, NJ First Time Home Buyers, NJ Mortgage Update, Real Estate News
IT’S OFFICIAL!!!!….
THE TAX CREDIT HAS BEEN EXTENDED AND EXPANDED
Well…almost…
(President Obama still has to sign it, which he will)
Per Martin Straka, Mortgage Loan Officer with Bank of America:
On Thursday afternoon (11/5/090 the House of Representatives voted to pass the legislation extending the Tax Credit and Unemployment Benefits (HR 3548).Homebuyer Tax Credit: H.R. 3548 extends the $8,000 tax credit for first-time homebuyers for five months, from November 30, 2009 to May 1, 2010. In addition, the bill provides a $6,500 tax credit for homebuyers that are not first time buyers, but have owned a primary residence at least five consecutive years in the last eight years.
The bill would cap the eligibility for the credit on homes that cost $800,000 or more and raises the current income limit from $75,000, or $150,000 in the case of a joint return, to $125,000 or $225,000. H.R. 3548 waives provisions to recapture the credit for military, intelligence, and Foreign Service personnel who are on qualified official duty and extends the tax credit for an additional year for those on qualified extended duty overseas for 90 days or more since 2008.
The full $8,000 tax credit will be available to qualified First Time Home Buyers (FTHB), defined as not having owned their “Principal Residence” within the past 36 months. This means that even if you have owned a vacation home or an investment property, you may still qualify for the FTHB Tax Credit. The amount of the Tax Credit is 10% of purchase price up to a $80,000 purchase price and then the total is capped at $8,000.
In the past few months, the Tax Credit has inspired many home buyers to stop waiting for “the bottom” of the housing market and to act now to take advantage of the great home prices in conjunction with near record low interest rates.
For those of you that like to read the details If you prefer, give Martin Straka a call at 973.598.5006 or email Marty
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2009 Housing Tax Credit Ends in Ninety Days
August 30th, 2009 Categories: Buying a Home in NJ, NJ First Time Home Buyers, NJ Mortgage Update
You only have three more months
to take advantage of the 2009 Housing Tax Credit.
Still Confused as to whether you qualify?
There are still many opportunities to purchase an affordable home
along the Midtown Direct Train line in New Jersey.
If you want additional information about real estate in
South Orange, Maplewood,Millburn/Short Hills,
Summit, Chatham, Madison, Livingston or West Orange…
Contact Perri K. Feldman @ 973.650.4727
or Perri@MidtownDirectHomes.com
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