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Bernardsville, NJ Market Snapshot - 11/30/09 01:38 PM
I am working on a market analysis for a listing appointment scheduled for Wednesday night. The property is a lovely expanded bi-level with over 3000 square feet of living space. Updated bathrooms and a kitchen with a very recent face lift - I am looking forward to getting it on the market! Here is some of the analysis I have done so far.
Bernardsville, NJ Market Snapshot
5 properties under contract since 10/30/2009
9 Sunset Dr $399,900, Ranch 71 Anderson Hill Rd. $449,900, Cape Cod 26 Essex Ave $479,000, Ranch 33 Timber Rock Trl $859,000, Colonial 8 Harvey Drive $923,000, Colonial … (0 comments)
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What sold in Bedminster, NJ last week? What's new? - 11/29/09 08:31 PM
11/21/2009 - 11/27/2009
I am back from a long weekend spent with family; hoping that my readers have enjoyed their long weekend as much as I did! I think that most buyers were also spending time with family - as there were only TWO sales last week here in Bedminster, NJ:
26 High Pond Lane, Wood Duck Pond, LP $309,9995 Four Oaks Road, Four Oaks, LP $379,000
There is only one additional property working through attorney review which means they have accepted an offer and lawyers are working through the contract details.
Please contact me if you would like more information about any … (0 comments)
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What SOLD in Basking Ridge last week? What's NEW? - 11/29/09 08:23 PM
« The Tax Credit and Multi-family homes
11/21/2009 - 11/27/2009
I am back from a long weekend spent with family; hoping that my readers have enjoyed their long weekend as much as I did! I think that most buyers were also spending time with family - as there were only TWO sales last week here in Basking Ridge:
29 Sunset Lane, Single Family home, LP $459,00057 Huntington Road, Single Family home - the Hills, LP $719,000
There are an additional 12 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details. I guess … (0 comments)
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The Down Market helps us look UP! - 11/25/09 10:06 AM
With the extension of the $8,000 tax credit for first-time buyers, much has been made about the great opportunity available to those who have never owned a home. Yet, the reality is that today's market offers just as many advantages for existing homeowners wishing to move-up to a larger home. The expansion of the credit to these repeat home buyers makes that opportunity even greater!
"Many current homeowners mistakenly don't think it is good time to buy because they are focused on what they might have sold their home for in the past," said James W. Weichert, president and founder of Weichert, … (0 comments)
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Why Bedminster renters should buy - especially NOW! - 11/25/09 09:58 AM
« Should I consider a Foreclosure in Bedminster, NJ?
Why Bedminster renters should buy - especially NOW!
Homeownership has many advantages, including tax benefits and the ability to build equity. And now, current market conditions make purchasing a home an even more attractive option than ever before.
In fact, a report earlier this year showed that the National Association of Realtors' Housing Affordability Index rose to the second highest monthly reading on record. That means homes are more affordable now than at almost any other time. What's more, the limited-time $8,000 first-time buyer tax credit makes purchasing a home … (0 comments)
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The Tax Credit and Multi-Family homes - 11/24/09 09:50 AM
Just like there are many types of buyers - from investors to first timers - there are also many different types of homes available for purchase. Certain buyers choose a multi-family home so they can earn income renting out the second unit or if they want to live close to a relative, but not share a living space.
Because the law states that a buyer must use their new home as a principal residence in order to claim the tax credit, those considering a two-family dwelling may wonder if they are eligible. According to the Internal Revenue Service, these buyers may … (1 comments)
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What sold in Basking Ridge, NJ? What's NEW? - 11/22/09 08:24 PM
11/14/2009 - 11/20/2009
Six properties went under contract this past week in Basking Ridge:
3 Commonwealth Drive, Spring Ridge, $244,90019 Dayton Street, BANK OWNED single family, $339,900 (multiple offers)101 Countryside Drive, $364,00051 Aspen Drive, town home, $469,00024 Princeton Court, town home $725,00076 Huntington Road, The Hills, single family, $725,000
There are an additional 8 properties that are working through attorney review which means they have accepted offers and lawyers are working through the contract details. Please contact me if you would like more information about any of these Basking Ridge homes or visit my Basking Ridge real estate site for more information on what has sold by … (0 comments)
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Basking Ridge Real Estate - website enhancements - 11/19/09 07:48 PM
The website, www.Basking-Ridge-Real-Estate.com is about to see some enhancements! We are working on adding quarterly reports - graphical representations of sale trends, list to sale price ratios, assessments, etc. Please comment if there is anything in particular you'd like to see.
Additionally, I will be offering an opportunity for you to receive a Market Snapshot - for your home, or for a property which you might be interested in purchasing. These market snapshots are easy to read and will be delivered at regular intervals so you can monitor activity in a given neighborhood. Click here for an example or here to … (0 comments)
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Do Open Houses Work? - 11/18/09 07:34 PM
I fielded a question today about whether open houses work and if they should be held weekly. I absolutely believe in open houses! They capture buyers who wouldn't otherwise see your home - either buyers not yet working with a Realtor, or buyers who have their agents looking for something so specific that they may not recommend your property. A person might walk through your home and call their sister or their best friend to tell them about it. You never know where your buyer may come from, so I think it is important to use every tool possible to get the word … (2 comments)
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Last week's market in Basking Ridge, NJ - 11/14/09 07:34 PM
11/07/2009 - 11/13/2009
Only 2 properties went under contract this past week in Basking Ridge:
76 Liberty Corner Road, Single Family Home, listed for $395,000, DOM 13*32 Princeton Court, Patriot Mews Town house, listed for $695,000, DOM 27
* 76 Liberty Corner Road was relisted after a six month listing that started at $469,900 and reduced to $419,000 - interesting that it sold in 13 days once it was brought down under $400,000. Watch my website for it's sold price (I won't know until it closes).
There are an additional 10 properties that are working through attorney review which means they have accepted offers and … (0 comments)
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Tax credit questions and answers - 11/09/09 06:49 PM
These frequently asked questions have been taken directly from the NAR Government Affairs Division website.
Question: Existing homeowner credit: Must the new house cost more than the old house?
Answer: No; Individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit. So will homeowners who are downsizing.
Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will … (0 comments)
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What sold last week in Basking Ridge, NJ - what's NEW to the market? - 11/08/09 07:51 PM
« Mortgages 101
10/31/2009 - 11/06/2009
The following 6 properties went under contract this past week in Basking Ridge (twice as many as last week!):
124 Smithfield Court, Spring Ridge Condo listed for $289,900224 Arrowood Way, The Cedars Townhouse, listed for $360,00011 Fairbanks Lane, The Barons Townhouse, listed for $449,99949 Spencer Road, Single Family Home, listed for $459,00036 Dorchester Drive, Townhouse in The Hamiltons, listed for $482,6252 Raleigh Court, Townhouse in The Hamiltons, listeed for $524,000
There are an additional 9 properties that are working through attorney review (all under $650,000) which means they have accepted offers and lawyers are working through the contract … (0 comments)
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Mortgages 101 - 11/06/09 09:16 PM
« November Home Buyer Seminar
Mortgages 101
I always tell my clients that "I sell houses, not loans" and direct them to my favorite Weichert Financial Services manager - Brian Wagenseller, who can be reached at 908-310-5122. Brian sent out a newsletter this afternoon so I thought I would share some highlights of available mortgage options:
State bond programs (not available in every state)- Very popular programs. Loan amount limits and downpayment requirements vary.- NJ, PA, VA and MA have monetized the tax credit to be made available at closing. FHA financing- As little as 3.5% down. Loan amounts up $729,750 in … (0 comments)
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November Home buyer seminar - 11/06/09 09:18 AM
You are invited to a free Home Buyer Seminar Saturday, November 21st at 11:00 in my office at 22 Henry Street in Basking Ridge. I will be there along with other real estate professionals, including my broker, our mortgage representative and a real estate attorney. We'll address local market conditions and buyer incentives, including the Federal Tax Credit as well as current mortgage products.
If you want to get ahead of the game, click here to search homes for sale in all areas covered by the Garden State MLS. Space may be limited, so please RSVP today by calling me directly … (0 comments)
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Underground Storage Tanks - to pull or not to pull? - 11/05/09 03:51 PM
« Senate Approves Extended U.S. Homebuyer Tax Credit
My Oil Tank is Underground
"My oil tank is underground and it has insurance; why do I need to remove it?" , "I am negotiating a contract on a home with an underground tank, what do I need to know about it?", "There is a decomissioned tank in the back yard, all the permits are on file at the township office.", "Can we ask the seller to pay for the soil test?", "We haven't had any problems with our tank, we are not going to take it out of the ground."
When I first started … (0 comments)
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Senate Approves Extended U.S. Homebuyer Tax Credit - 11/05/09 11:50 AM
« Fire Company Fund Raiser
Senate Approves Extended U.S. Homebuyer Tax Credit
Sent to me from Weichert Financial Services, authored by Brian Faler
Nov. 4 (Bloomberg) - The U.S. Senate approved a $45 billion plan to expand a tax credit for first-time homebuyers, extend jobless benefits and provide tax refunds to money-losing companies.
Lawmakers voted 98-0 for the measure, sending it to the House, where Majority Leader Steny Hoyer of Maryland said in a statement it will receive a vote as early as tomorrow. The bill then would be forwarded to President Barack Obama for his signature.
The plan would be … (3 comments)
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Jennifer Blanchard
Basking Ridge,
NJ
More about me…
Weichert, Realtors
Address: 22 Henry Street, Basking Ridge, NJ, 07920
Office Phone: (908) 766-7500
Cell Phone: (908) 432-0318
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