Archive for June, 2009
Home Buyer Tax Credit Ends Dec 1st
June 23rd, 2009 Categories: NJ First Time Home Buyers, NJ Mortgage Update, Real Estate News
Did you know that the Home Buyer Tax Credit can now be used for closing costs with FHA-approved lenders?
But ”first-time home buyers” only have until December 1, 2009 to purchase their principal residence to take advantage of the credit.
The National Association of Realtors (NAR)Â has a very valuable website: http://www.housingmarketfacts.com/Â with easy to understand question and answers for first-time New Jersey home buyers.
With historically low interest rates today (yes we are seeing them start to creep up!) and affordable housing prices in the key Midtown Direct communities of South Orange, Maplewood, Millburn/Short Hills, Summit, Chatham, Madison, Montclair, Glen Ridge and Westfield, as well as Livingston, West Orange and Springfield…
NOW IS THE TIME
FOR FIRST TIME HOME BUYERS
 TO TAKE ADVANTAGE OF
NEW JERSEY HOME OWNERSHIP!!!
New Jersey Homes for Sale
Contact Perri K. Feldman for more information
about Homes for Sale Along and Adjacent to the Midtown Direct Train.
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How is the Summit NJ Housing Market?
June 20th, 2009 Categories: Commuting to NYC, Recent New Jersey Home Sales, Summit Living
Thirty-eight homes have gone Under Contract
in the past month in Summit, NJ…
thus putting the Summit housing market about 19% behind
2008 in number of home sales pending.
Average list price of the 163 homes currently on the market
is $1,187,509 (6% below 2008).
What are the prices of the homes selling in Summit, NJ?
8Â Â Under $500,000
2Â Â $501,000-$600,000
6Â Â $601,000-$700,000
4Â Â $701,000-$800,000
3Â Â $801,000-$900,000
3Â Â $901,000-$999,999
5Â Â $1,000,000-$1,500,000
3Â Â $1,500,001-$1,999,999
4Â Â $2,000,000+
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Why buy a home in Summit, NJ? NJ Magazine ranks Summit High School #20 in the state, the Midtown Direct Train Express puts you at Penn Station in twenty minutes and the vibrant downtown has shops/restaurants for your every need.
Contact Perri K. Feldman to learn more about living in Summit, NJ 973.650.4727 or Perri@MidtownDirectHomes.com.
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How is the Madison NJ Real Estate Market?
June 19th, 2009 Categories: Buying a Home in NJ, Madison Living, NJ First Time Home Buyers
There are a lot more homes on the market
in Madison, NJ than last year…
22 more (90 vs 68)!
But the good news is…22 homes are under contract at an average list price of $895,342.
The even better news, is that homes are selling both under $600,000 and over $1,000,000+
6Â Â Under $500,000
5Â Â $501,000-$600,000
2Â Â $601,000-$700,000
2Â Â $701,000-$900,000
2Â Â $901,000-$999,999
5Â Â $1,000,000+
Madison is a beautiful community, rich in history with two Universities and a newly renovated train station that makes the 5o minute train ride into Manhattan via the Midtown Direct even that much more enjoyable.
Want to learn more about buying a home and living in Madison, New Jersey? Contact Perri K. Feldman @ 973.650.4727.
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How is the Maplewood NJ Real Estate Market?
June 19th, 2009 Categories: Buying a Home in NJ, Commuting to NYC, Maplewood Living
Are you thinking of buying a home in Maplewood, NJ?
Now is a great time.
There are currently 140 homes for sale in Maplewood, NJ
with an average list price of $526,605.
But what are the prices of the homes that are selling?
Of the 35 homes that went under contract in the last 30 days, the average list price was $449,494.
4Â Â Under $200,000
6Â Â $201,000-$300,000
5Â Â $301,000-$400,000
7Â Â $401,000-$500,000
8Â Â $501,000-$600,000
3Â Â $601,000-$700,000
1Â Â $701,000-$999,999
1Â Â Over $1,000,000+Â Â
However, the average list price of the 11 homes that just went into (3 day)Â Attorney Review is even lower…$435,900.
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First time home buyers are getting the jump at low interest rates, $8000 credit and reasonable home prices. Not to mention the twenty minute commute from Maplewood, NJ into New York City via the Midtown Direct Train.
Contact Perri @ 973.650.4727 to learn more about buying a home in Maplewood, NJ.
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How is the Livingston NJ Real Estate Market?
June 19th, 2009 Categories: Buying a Home in NJ, Livingston Living, NJ First Time Home Buyers
The Livingston NJ Real Estate Market is Heating Up!
Forty homes have gone Under Contract in the past month.
The average list price of these homes is $611,694.
Ten Homes are in Attorney Review
with an average list price of $506,399.
What does this mean for Livingston, NJ home buyers?
With pretty much the same number of homes on the market as last year (158) and the average price of all homes on the market in Livingston at $870,195, this is the time to buy your first home at a Great Price in a terrific community.
Homes under $600,000 are being gobbled up:
7Â Â Under $400,000
10Â $401,000-$500,000
9Â Â $501,000-$600,000
3Â Â $601,000-$700,000
3Â Â $701,000-$800,000
5Â Â $800,000-$999,000
3Â Â $1,000,000+
Want to learn more about Livingston, NJ Real Estate? Call Perri @ 973.650.4727 or email at Perri@MidtownDirectHomes.com.
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How is the South Orange Real Estate Market?
June 19th, 2009 Categories: Buying a Home in NJ, NJ First Time Home Buyers, South Orange Living
South Orange, NJ currently has 134 homes for sale
at an average list price of $621,361.
Homes have been on the market on average 98 days.
So what priced homes are selling in South Orange, New Jersey?
Twenty-Three homes went Under Contract
in South Orange, New Jersey this past month.
3Â Â Under $300,000
8Â Â $301,000-$400,000
2Â Â $401,000-$500,000
2Â Â $501,000-$600,000
5Â Â $601,000-$700,000
2Â Â $701,000-$999,999
1Â Â $1,000,000+
The average list price of those homes was $506,300 and they were only on the market for 69 days on average.
How does that compare to last year? Pending sales are down about 18% from the same time period in 2008.
What does that mean for home buyers in South Orange? With historically low interest rates and terrific prices, now is a great time to buy a home in South Orange. Call Perri @ 973.650.4727 or email to learn first hand about South Orange real estate for sale.
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How is the Millburn/Short Hills Real Estate Market?
June 19th, 2009 Categories: Buying a Home in NJ, Millburn & Short Hills Living, NJ First Time Home Buyers
At lunch yesterday after the Center Court Member Guest,
I was asked
How is the Millburn/Short Hills Real Estate Market?
 Houses are moving after a sluggish early spring,
especially if they are priced right!
And, what priced houses are moving?
In the past month, 35 homes have gone under contract at all different price points
5Â Â Under $500,000
6Â Â $501,000 to $750,000
4Â Â $751,000 to $999,999
11 $1,000,000 to $1,499,999
5Â Â $1,500,000-$1,999,999
4Â Â $2,000,000+
Short Hills Median List Prices are falling whereas Millburn Median List Prices are holding pretty steady.
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Want to learn more about the Millburn/Short Hills Real Estate Market? Call Perri K. Feldman @ 973.650.4727 or email Perri@MidtownDirectHomes.com
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