Archive for the ‘Market Activity’ Category

In the spring of 2008, we were aware of the increasingly difficult real estate market and anticipated that things would get worse so we listed our Basking Ridge home with Lin, after interviewing 3 realtors.

It was clear from the first moment that Lin was a knowledgeable and tested real estate professional. She partnered with us on anything and everything that had to do with selling our home – and more!  Her marketing, technology and Internet savvy, as well as her enthusiasm and good sense, ensured that our home was presented in the best way and with maximum exposure.  

The results?  Although the average DOM at the time was about 6-7 mos. , Lin sold our house from under us! – a third offer within a week and for full price! We were shocked (and homeless)  but happy to have sold the house so quickly and for a good price!

Diane M. Harris

There are oodles of “don’t do this” and “be sure to do that” lists available on the net for real estate advice but I thought I would rack my brain of 25+ years of real estate experience for a few ‘non-traditional’ experiences I have had. Everything you are about to read is true. You just can’t make this stuff up!

My very first real estate transaction was a single family home I sold on Christmas Eve to a woman police officer in my home town.  She also had a great sense of humor! After days of successful negotiations the contract was signed and she was going to drop it off to me — on New Year’s Eve.  We were at a New Years Eve Party at a friends house and she drove up in the Police car with lights flashing in full uniform. There were a lot of very surprised faces when she asked for me.  They said later I would do anything to sell a house.

How true.  When we got to the closing of my second real estate transaction my buyer just happened to work for his Dad’s home fuel oil company.  It is tradition that when you have your home fueled by oil and it is sold, the seller usually tops off the tank, brings the receipt to the closing and the buyer reimburses the seller for a full tank of oil. 250 gallons at whatever the rate was at that time can be significant.  We had completed all the paperwork and when the buyer saw the oil receipt he said he could get the oil at a cheaper price and refused to pay the bill. He wanted the seller to have the tank pumped out so he could fill it for less! After much haggling I finally asked the buyer to find out what the reasonable price that he would pay would be. I pulled out my check book and wrote a check for the difference: $49.00.

What is a bank check?  My Asian buyers took many months to find their perfect home and they were so excited! Because the learning curve can be steep and I consider myself to be pro active.  I walked them through every step of the way so they would be comfortable with the buying process and the closing process. I reminded them their attorney would require them to bring bank checks to the closing for all their closing costs.  We get to the closing, complete all the paperwork and they pull out their personal check book.  A surprised attorney turned to me and then said to them he needed BANK checks.  They said “These ARE bank checks — from my bank!” The closing was delayed while they went to the bank for bank checks which are Cashiers checks or certified checks.  Your personal checks are not bank checks!

Check back later for more experiences that shouldn’t have to happen to you!

Click here for information about all properties for sale and that have sold in your area!

Well, we have certainly had our share of the white stuff recently!  Often, activity on listings slow when we have snow on the ground.  It’s messy, inconvenient and cold!  Sellers should remember to make sure their walkways and driveways are clean and dry with no ice or slippery areas.  Often the sun melts the ice and snow during the day and then it freezes up again at night. If your home is vacant, please leave the heat on and have someone check on it (your realtor should offer to do this!) at the very least, weekly.  There is an insurance policy you can purchase in the interim if your home is vacant that will protect it from any damage caused by water, electricity, etc.  But it is expensive.  The cheapest policy I have found is through Weichert Insurance (they farm it out to a third party) for around $1,600 per year.  The good news is that when your home sells and you cancel the policy, you get a rebate for the difference.

Don’t take any chances.  You can have the water turned off at the street, or turn it off yourself.  The biggest problem I have seen here over the years is that your seals will dry out on plumbing fixtures.  Then when you turn the water back on, they leak.  Especially faucets!  And, remember your hot water heater if your property is vacant. It leaks from the inside out and if it is over 7 years old it can go at any time. You can purchase a sort of alarm that you put near it that goes off when it detects moisture.  Oops!  Only works if someone hears it!

Any for buyers, please be courteous and remove shoes and boots when you are touring a home.  You have just walked through wetness, slush, snow and or worse – that ice melt stuff and salt.  This can damage floors and carpeting in someones home.  I always put out a basket of “booties” and ask that people cover or remove shoes.  It’s the golden rule.

Usually in townhome and condominium complexes, snow removal is included in the monthly fee.  This only works however if your driveway is clear for them to plow.  It never ceases to amaze me that people leave $40,000 + cars out in their  driveway so they can store toys and bikes in the garage. Some condominium and or townhome complexes are fee simple.  This means the homeowner is responsible for snow removal. If the home is vacant, your realtor should arrange to have any snow removed from walkways and driveways (I’ve been known to shovel it myself if need be!).  It is good to make these arrangements in advance to avoid sudden problems or issues going forward.

Stay warm and safe and click here to see all information about all Townhome and condominium communities.  Once you are at my web site you can also search single family homes as well!

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.

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

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.

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!

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

Ten Reasons why it is a good time to buy!

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!