Archive for the 'Buying a Home in NJ' Category
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+
6 Under $500,000
5 $501,000-$600,000
2 $601,000-$700,000
2 $701,000-$900,000
2 $901,000-$999,999
5 $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.
| Currently No Comments »
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.
4 Under $200,000
6 $201,000-$300,000
5 $301,000-$400,000
7 $401,000-$500,000
8 $501,000-$600,000
3 $601,000-$700,000
1 $701,000-$999,999
1 Over $1,000,000+
However, the average list price of the 11 homes that just went into (3 day) Attorney Review is even lower…$435,900.
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.
| Currently No Comments »
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:
7 Under $400,000
10 $401,000-$500,000
9 $501,000-$600,000
3 $601,000-$700,000
3 $701,000-$800,000
5 $800,000-$999,000
3 $1,000,000+
Want to learn more about Livingston, NJ Real Estate? Call Perri @ 973.650.4727 or email at Perri@MidtownDirectHomes.com.
| Currently No Comments »
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.
3 Under $300,000
8 $301,000-$400,000
2 $401,000-$500,000
2 $501,000-$600,000
5 $601,000-$700,000
2 $701,000-$999,999
1 $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.
| Currently No Comments »
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
5 Under $500,000
6 $501,000 to $750,000
4 $751,000 to $999,999
11 $1,000,000 to $1,499,999
5 $1,500,000-$1,999,999
4 $2,000,000+
Short Hills Median List Prices are falling whereas Millburn Median List Prices are holding pretty steady.
Want to learn more about the Millburn/Short Hills Real Estate Market? Call Perri K. Feldman @ 973.650.4727 or email Perri@MidtownDirectHomes.com
| Currently No Comments »
Easy Commute to NYC from Millburn NJ
May 14th, 2009 Categories: Buying a Home in NJ, Commuting to NYC, Millburn & Short Hills Living
If you are looking for a perfect three bedroom home near the Millburn Train Station…
you must visit 30 Locust Ave.
Be a part of the Number #1 School System in New Jersey. Move right into this wonderful side-hall Colonial in the Wyoming School District.
Call Perri @ 973.650.4727 for more information or to preview this home.
| Currently No Comments »
Updated 4 Bedroom Ranch in Livingston, NJ
May 13th, 2009 Categories: Buying a Home in NJ, Commuting to NYC, Livingston Living
Another Great Home in Livingston, NJ
With an Easy Commute into NYC
OPEN HOUSE
SUNDAY APRIL 17TH
1PM TO 4PM
Just in time
to take advantage of all that Livingston
has to offer in the Summertime!!!
Please join us on Sunday.
If you have any questions about this wonderful home,
please call Perri K. Feldman @ 973.650.4727.
You can also visit 30GlendaleAve.com
for additional pictures and floorplans.
| Currently No Comments »
Updated Center Hall Colonial in Livingston, NJ
April 15th, 2009 Categories: Buying a Home in NJ, Commuting to NYC, Livingston Living
If you want to have an easy commute to Manhattan
on an Express Bus from Livingston, New Jersey…
Look no further.
OPEN HOUSE
Sunday April 19, 2009
1pm-4pm
29 Briar Cliff Road
Livingston, New Jersey
Just in time for Mother’s Day, the perfect home comes on the market in Livingston.
Please join us on Sunday. If you have any questions about this wonderful home, please call Perri K. Feldman @ 973.650.4727.
You can also visit 29BriarCliffRd.com for additional pictures and floorplans.
| Currently No Comments »
South Orange is Still Hot for NYC Commuters
March 27th, 2009 Categories: Buying a Home in NJ, NJ First Time Home Buyers, South Orange Living
South Orange is a Terrific Town
for First Time Home Buyers.
Danielle Elliot writes in South Orange Patch how desirable Midtown Direct Train communities are for NYC transplants.
Perri Feldman, a realtor with the Summit-based Keller Williams, says the sluggish economy hasn’t substantially slowed the trend. At least 80 percent of her clients are from the New York City area. These first-time buyers are looking to put their savings into something solid, hoping that “if they do lose their jobs, they have hopefully created a nest egg with the house.”
A nest egg that has never been so affordable. “To say that now is the time to buy is an understatement. Historically, prices and interest rates have never been this low, and first-time homebuyers want to jump in feet first. The $8,000 credit doesn’t hurt either,” said Feldman, referring to the credit available to first-time home buyers via the Obama stimulus package.
There’s also a contingent of would-be buyers fresh from digesting grim news about the economy who house-hunt with the expectation that they can find a home for a fraction of what they would have paid two years. But Feldman says they’ve been largely disappointed, and local sellers have resisted dropping their prices by large amounts.
“Along the Midtown train line is the hottest place to be,” she said. “People are low-balling, but sellers aren’t budging.”
Patch has been slowly adding communities to their local news sites: Maplewood, South Orange, Millburn with Scotch Plains, Summit and Westfield coming soon.
Want to learn more about Homes and Towns along the Midtown Direct Train? Call Perri @ 973.650.4727 or email Perri K. Feldman about your Midtown Direct Real Estate Needs.
| Currently No Comments »
NJ Housing Market: Where is the Bottom?
February 22nd, 2009 Categories: Buying a Home in NJ, Selling A Home in NJ
In case you missed Sunday’s New York Times Article A Market Going Downhill Fast, home buyers and sellers in New Jersey have a lot to think about.
Overall, New Jersey home sale prices have declined by an average of 15 to 20 percent in every county in the past three and a half years based on contract sales data.
However, towns along and adjacent to the Midtown Direct Train-line have actually seen average sale prices increase* in the same time period given their excellent school systems and accessibility to New York City, Hoboken and Jersey City. While prices are in fact down from the peak, if you are a seller who purchased a home 5+ years ago, don’t dismay…you should see a positive number on your sale. The average days on market has increased in keeping with the current economic climate.
04/08 04/08
Avg Sales DOM
Price % +/- % +/-
ESSEX COUNTY
Glen Ridge: +10% +18%
Livingston + 9% + 7%
Maplewood +13% +48%
Millburn +10% - 3%
Montclair +23% +38%
South Orange + 9% +16%
West Orange + 9% + 4%
MORRIS COUNTY
Chatham Boro + 3% +16%
Chatham Twp +50% +19%
Madison + 7% +39%
UNION COUNTY
Springfield + 4% +23%
Summit + 5% +51%
Westfield +18% +38%
*Based on GSMLS sales data
Antoinette Martin writes:
The problem for many sellers now is that they cannot wait five years to sell their homes at prices comparable to what they paid for them.
Tom Wragg, a mortgage broker with Worldwide Financial Resources Inc., has his family’s three-bedroom, two-and-a-half-bath town house condo in the Crystal Woods complex in West Orange up for sale right now.
He purchased the condo for $438,000 five years ago, when his first child was about to take his first step. Last year, after he and his wife had their third child, Mr. Wragg put the town house on the market at an asking price of $525,000. After 125 days without a buyer, the listing was withdrawn — and the house was relisted on Jan. 1 at $489,900.
Over the weekend of Feb. 7 and 8, when the weather was relatively balmy and small swarms of home shoppers actually emerged for various open houses around northern New Jersey, not a single prospective buyer showed up to view the town house, Mr. Wragg said.
“It’s a little disturbing,” said his real estate agent, Perri K. Feldman of Keller Williams in Summit, “because this home is now very well priced.”
Ms. Feldman said last week that she was talking with two other sellers whose homes’ values had apparently slid below what the sellers originally paid. She said she was considering when to tell them that their only option appeared to be selling short and moving on with no nest egg profit in hand.
On the good news front, this same condo had three excellent viewings this weekend and buyers agents have indicated offers could be coming in this week. Let’s keep our fingers crossed.
Want to learn more about current homes of value on the market today?
http://www.240ClarkenDrive.com/
http://www.30LocustAve.com/
http://www.345OldShortHillsRd.com/
| Currently No Comments »
