Archive for March, 2010

 Market Update for The Barons Townhouses in Basking Ridge:

Active:

34 Dexter Drive N                                   $478,900

13 Bradford Lane                                     $499,000

1 Dexter Drive N                                      $499,900 * (In attorney Review)

4 Bradford Lane                                       $509,900

3 Deerfield Ct                                             $518,000

21 Dexter Drive N                                    $519,900

19 Bradford Lane                                     $524,900

3 Fairbanks Lane                                      $525,000

30 Fairbanks Lane                                   $525,000

Under Contract:

16 Fairbanks Lane                                    $539,000 (Anticipated Close Date 4/9/10)

Sold:

11 Fairbanks Lane                    Listed for $449,999,  Sold for $436,250 on 12/15/09

24 Fairbanks Lane                   Listed for $450,000, Sold for $387,500 on 2/12/10

20 Dexter Drive N                    Listed for $545,000, Sold for $522,500 on 12/16/09

13 Dexter Drive S                      Listed for $578,500, Sold for $570,000 on 8/18/09

You can see by this information that the market continues to decline in this community.  The Barons townhouses took longer to reach a decline in this market but ultimately succombed and fell harder and faster than other communities.  Many of the owners in here are original owners and many of these townhomes need updating.  Although if you look at 19 Bradford with its new kitchen and stainless steel appliances it still has been on the market 33 days with little activity. Nine active listings in The Barons townhome community is very rare.  Not too long ago one would find notes in your mailbox from a buyer begging for a private sale because there was nothing on the market.  These townhomes are sizeable and are attractive to buyers who are downsizing or want the spacious feel of the floor plans.  There is one model with a first floor bedroom and those seem to sell more quickly.  Finding a townhouse with a first floor master bedroom is rare and a plus for any seller.  The Barons offers four different models:  the Aristocrat, the Dexter, The Bradford and The Classic.  The Classic model offers the first floor bedroom and a two car garage. 

To see more information about this community and other townhouse communities in Basking Ridge Click here.

Choosing whether or not to rent your single family home or townhouse because it isn’t selling or just because you want to wait until the market improves to sell can be a daunting task.  The experience can be either positive or negative.  Plus there are tax implications(consult your accountant).

Tenants are not in favor of accommodating a seller while they are living in the same single family home or townhouse.  Quite simply  they have no vested interest in accommodating showings or keeping the property in proper showing condition.  Tenants can really kill a chance of a sale.  In one extreme case I heard of the tenant required one week’s notice to show.  They had large dogs and needed to get them out of the house.  The agents client flew in to see just that one property and when they got there there was no one home, no key or lockbox, hence no showing.  If your tenant is not clean or tidy and especially if they have animals, be prepared for them to cause delays or not allow showings.  Unlike a seller, they may leave the property a mess which will really turn off a buyer.  Unmade beds, soiled carpeting and walls, dirty dishes in the sink, clothes all over the floor and an unscooped kitty littler box are just a few of my experiences.  Sellers should be prepared when a tenant leaves that their home will not longer be as perfect as they had kept it when they were living there.  Sellers should be prepared to paint, replace carpeting and repair “normal wear and tear” damages. Sure you might have a security deposit but it won’t cover much if there are significant issues.

I am the “queen” of rentals in the Basking Ridge area.  I teach rental classes to other agents and I have several investor owners that own properties in Basking Ridge, Bernardsville, Bedminster, Bridgewater and Branchburg.  The “B” towns I call them.  For as much due diligence you do in the beginning with credit report, verification of income, security deposit etc. you can never be prepared for what happens after the tenant moves in.  The worst case I have ever seen was a tenant that moved into a townhouse in Branchburg.  Credit was perfect, he worked for a reputable company etc. etc.  From the day he moved in he never paid a dime in rent or utilities.  All his initial checks for security rent etc bounced.  The eviction process took almost a year and when the property was finally vancant we saw they had taken everything that was and wasn’t bolted down.  Sinks, toilets, washer, vent coverings, outlet plates.  It was bizzare. their 2 large dogs that they were NOT supposed to have destroyed the carpeting and they left a nice pile of trash on the kitchen floor.  $35,000 later the place was habitalbe again and we sold it.

There are positive experieces as well.  If you do your homework up front, call references, call prior landlords, you will have a positive experience!  Also ALWAYS ask for Bank or Certified checks or Money Orders up front.  Put a clause in the lease that the tenant will accommodate any showing;  that a lockbox can be placed on the property and that the tenant will keep the property in proper showing condition.  The positives far out weigh the negatives, but still be aware the property will not show as nicely as when you were living there with your designer decor!

Click here to learn more about all Basking Ridge communities.

I am the ultimate pet lover. I grew up with large dogs and have had both dogs and cats just about all my life.  I am finally down to just one rescue cat and get my dog “fix” from other people’s dogs now that our Springer Spaniel is no longer with us.  As a realtor though I try to educate my sellers that have dogs or cats or any pets for that matter on what to do with their pet during a showing and how their pet can impact their possible sale.  Here are a couple of my stories:

Last year I had a townhome listed and their 3 year old dog was extremely “active”. Dog lover that I am I arrived in “wash and wear” and left with spit,slime and snags.  But I got the listing!  If the owner was going to be home she would put the dog on a leash and leave.  Hope she is home a lot I thought!  However the one day that she worked I would need to go over and corral the dog into her cage for any showings.  Easy enough they said just give her a biscuit. Of course the next showing was on that work day.  I arrived early to the dog barking and jumping all over the entry door (it is left loose inside the townhome during the day) and I had to get in there without the dog getting out.  Bottom line is this dog was too smart for a treat and knew what I was going to do!  I literally had to corner and tackle the dog to drag her 70 pounds into the cage. She howled and barked the whole time the clients were viewing the house and they left quickly. I needed a treat!

Another time I had buyer clients and arrived a a single family home to show it to my relocating buyers.  On the stoop was a plastic covered bowl with a note on it.  It was addressed to Realtors and said I should go in with treat in hand and get the dog into the garage before letting my clients in for the showing.  My clients said they loved dogs and no problem.  They would help.  Open the door, golden retriever bounds at me, figures out how to open the storm door and goes outside! It took me and my clients to push pull all we could to get this dog who planted her feet and mind that she wasn’t going anywhere back into the house.  Treat be damned!  I needed another treat for that one.

Then there’s always the little ones that yap and hump your ankles.  Note to self:  Stop wearing black pants that are not wash and wear — they get full of dog and cat hair. One client had three cats.  One we never saw during the almost year long listing, one always stayed asleep n the back of the couch ( we checked for breathing every now and then), and then there was Jake.  Jake seemed nice enough.  He had this little stuffed bunny he kept dragging to his food bowl thinking it would eat. He was social too following us around.  Little did we know that Jake was a closet attack cat.  I still have the scars.

Of course the stories could go on and on.  People leave for the weekend and leave the cat(s) alone.  The pet odors can be horrendous.One house we went into not only had cat “mistakes” all over the carpeting, there in the middle of the family room was a dead mouse present for us to see at our showing! We were out the door.

When I sold my last house a few years ago I had 2 cats at the time. I remember driving around with the 2 cats in the car with their food and littler box IN THE CAR for every showing.  No one ever knew I had a cat.  Of course if you can’t do that there are alternatives!

For cats: Clean the litter box several times a day.  Change the litter often. Use a disposable deodorizer  near the cat littler.  I like the Glade Glass Accents. Do NOT put the litter box in an inappropriate place like the living room, kitchen or bedroom.  Keep it private and preferably out of site:  The basement workshop, a bathroom other than the one most people use, the laundry room etc. For a showing put the food away or at least the dish with the half eaten wet stuff.  Seriously consider having a pet sitter come by once a day if you work to make sure everything is in order with your pet.

For dogs: Please do not leave them loose in the house for any reason.  If they are crate trained leave them in the crate. If they are used to roaming  loose, please try to schedule showings around your availability or a neighbor’s availability to remove the dog. Dog odors are the worst. Have your carpeting steam cleaned before listing your house and vacuum frequently. Take the dog outside more often or consider a pet sitter that can come by to help as well.

It is very important to keep in mind that some buyers are ALLERGIC and AFRAID of dogs and or cats.  Some Realtors are afraid as well. No to mention how traumatized your pets are to have strangers ringing doorbells and wandering through their home! So keep Fido and Fluffy safe from humans during showing hours and plan accordingly.