Archive for January, 2010

Real Estate – Still the best shelter

Real estate — still the best shelter. In a recent survey, 87 percent of all people responding ranked real estate as a good financial investment.  Fifty-four percent believe real estate is better than stocks and another 26 percent believe it is as good as stocks. Put your money in an investment you can live in.

Basking Ridge still has a great selection of inventory of townhomes, condominiums and single family homes for any of your buying needs.  First time home buyers, Retiring sellers, moving up families, singles, professionals and more.

The top four reasons first-time buyers purchased in 2009 included “desire to own their own home” (62 percent), “affordability” (10 percent), “change in family situation” (8 percent), and “first-time-buyer tax credit” (6 percent), the survey found.

Basking Ridge Home Market Activity

January 29, 2010

Active

73 Dorchester Dr in Hamilton Crest    $529,999  3BR, 2 1/2 baths, 1 car garage

Under Deposit:

489 King George Road     $650,000

47 Addison Drive     $849,900

Closed:

17 Clark Ct , Hamilton Woods     $450,000

158 Morristown     $582,000

14 Cedar St    $620,000

249 Mt Prospect Rd  $1,500,000

 

Click here to visit my web site with all the latest on single family and townhomes in Basking Ridge

New Townhome Listing in Basking Ridge

We’ve done it again!  I have a great new townhome listing in Basking Ridge in The Ridge Condominium complex.  There are currently no listings in that small 100 +/- community complex.  This home feels like a center hall colonial with three bedrooms upstairs, a first floor den, fireplaced living room and eat in kitchen.  It has a partially finished basement, 3 1/2 baths and an attached garage.   This townhome complex is very desirable and I will have the “B” Model unit available for showings next week as the long time owners are moving their things out over the weekend.  I have the floor plan so if you are interested, let me know!  It is listed at $449,000.  Great price since most other three bedroom townhomes in Basking Ridge are over $500,000.

Adding a virtual tour

I think it is very important to post a virtual tour to the internet for all listings.  I use a unique service and hire a professional photographer.  He takes the pictures, re-draws the floor plan and posts it on the internet.  I then can burn CD’s for clients who visit the property.  It is not like most tours that give you that fish eye view that makes you dizzy!  I just had one done for my new listing in Basking Ridge at Amherst Mews.  I’ll post it here when it is ready!  Meanwhile I do have all the floor plans for every  townhome community in Basking Ridge.  So if you need a copy of your floor plan let me know!

Great new listing in Amherst Mews!

I just listed a gorgeous townhome in Basking Ridge in Amherst Mews at 47 Dickinson Road.  This one owner home was custom designed to accommodate three generations of living area.  The woman that owns it designed the ground level to have 2 bedrooms, a living/media room, fully applianced wet bar with separate eating area and an exercise room/office.  Her college age daughters lived there so she customized the full bath with 2 separate vanity areas separated by a floor to ceiling built in for accessories.  She also separated the tub/shower room for ultimate privacy and function!  The first floor has a gorgeous kitchen and family room overlooking the NJ National Golf course!  The first floor master suite has separate sitting area and french door to private deck!  The second floor of this  Birkdale II model was customized for her mother with a huge bedroom suite with walk in closet and full bath.  Two additional bedroooms are on this level and another full bath.  There is a loft with custom coffered ceiling and chandelier  that ovelooks the two story family room.  I will be having the new listing open house ther this Sunday, January 24th from 12 – 4:00.  Stop by if you can!

See brochure here

47 Dickinson Road, Basking Ridge 07920

Ten Reasons Why it is a Good Time to Buy!

Ten Reasons why it is a good time to buy!

  1. Selection. There are about 150 resale homes on the market in Basking Ridge. Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 70 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There is a great selection of single family homes, condos, and townhouses. .
  2. No Bidding Wars. In 2005 I had one client that made an offer on six homes before they “won” a property .. They lost the others to the ‘feeding frenzy’ that existed. Other buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer’s market.
  3. You can make an offer. A few years ago when you made an offer, the only question was how high above the list price could the buyer reach in hopes of being the best offer on the table. Today the sell price list vs. price ration is about 95%. A seller will not be insulted if you make reasonable offer.
  4. You can be patient and breathe. In the hot seller’s market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer.  Today a buyer can take their time. Look at several homes and think about your decision for a few days.
  5. Due diligence. In this market a buyer is can take the time to obtain a home inspection, pest inspection, and appraisal. In a few years ago many buyers waived these contingencies in order gain an advantage over other buyers with multiple offers.
  6. New Construction . In the not too distant past buyer had to ‘play games’ if they wanted a new home. There were lotteries and waiting lists in order to obtain new construction. Builders now may  have thousands of new construction ready for immediate occupancy. Plus the buyer may be able to negotiate the price!
  7. Repair requests are reasonable. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold ‘as is’. Many times, there were back-up buyers waiting for a primary buyer to upset the seller whose home was increasing in value almost daily.
  8. Fewer  investors. In the past the market was flooded with investers buying and “flipping” houses for a quick profit.  These non-owner occupied buyer caused the market to inflate and affordability to decline. Mortgage fraud came into the picture.  It’s a great time to buy without having to compete with hundreds of prospective landlords.
  9. Location, location, location. Today’s buyers can find homes closer to work and in primary areas with the best schools.. In the past buyers had to look in secondary areas farther away from amenities in order to find affordable homes. In this market, reasonably priced homes are within biking or walking distance to schools, mass transit lines, and work .
  10. Real Financing is available. The zero down, no doc, adjustable, sub-prime loans are gone. Fixed rates are back. FHA financing, first time homeowner bond programs, special loans for first time home buyers, teachers, and police officers available to those with good credit. It’s a great time to buy real estate!

Happy New Year to all Buyers and Sellers!

Happy new Year to all Buyers and Sellers of townhomes, condominiums or single family homes! Here’s hoping for a great 2010!  By the way I am completing a file of all the floor plans for all the townhouses and or condominiums in Basking Ridge.  I can pretty much tell by the listing which floor plan they are but if anyone needs a scanned copy of a condominium floor plan, please email or call me!

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