People always ask me ” Sue, how do you do it? How do you sell so many houses in such a bad market?” Well, check out the video below and meet my real estate coach. I make sure to use his tactics with all of my clients. Follow link below, watch and enjoy! http://njexperts.com/2009/07/12/a-little-real-estate-humor/
I just came across an article in the Wall Street Journal on Why Open Houses Still Work. After reading the article and the comments that followed, I needed to add my two cents on this subject.
My experience has been that Sunday Open Houses along the New Jersey midtown direct trainlines DO work with a big BUT.
When a new listing comes on the market... let's say on a Tuesday. Then we have the Realtor Open House on Thursday, the blast email goes out to all of the realtors and then the data base of potential interested buyers on Friday, and of course its advertised on all of the sites that a consumer would think to search ( our local www.gsmls.com , www.realtor.com , www.trulia.com , www.zillow.com , www.nytimesonline.com and www.craigslist.com , plus www.sueadler.com of course .
Its the FIRST weekend of this HOT new listing and buyers ( yes, neighbors too, but who cares?) are excited to see it whether or not their realtor is available to take them. For this reason, the listing agent should send out a blast email to the other realtors asking them to forward this open house invitation to their buyers and tell them to just mention their name at the door. Busy realtors who dont have teams may not be available to show their buyers this great new listing on Sunday. Its the listing agents' job to make it EASY for buyers to see that new listing when it first comes out, becuase that is how the sense of urgency is created, which gets the best price possible for the seller, yes, even in this market!
Its quite common to see homeowners and especially home sellers in Short Hills, Livingston, Maplewood, South Orange and other Essex County towns appealing their assessments these days since prices have come down. It can really have an impact on your sale if your taxes are too high. If you're thinking of selling your home in the next year, and your assessment is higher than you think it should be, then now is the time to apply for a tax appeal. If you miss the April 1st deadline you have to wait a whole year and that could affect your sale if your taxes are out of line.
When job loss occurs, the effect on families can be absolutely traumatic. I feel I'm taking a risk by discussing this so openly because its such a sensitive, personal topic to so many people but I don't think I could live with myself unless I get this information out there to people who may need it.
If job loss has affected your family, its important that you examine the answers to these questions:
1. Check your monthly expenses against how much money you have in savings.
2. How many months can you live in your house at these current monthly expenses?
3. What is the likelihood of finding the same paying job? And to take that a step further, how long could it realistically take to find another job?
4. Have you called your mortgage company? As long as you can prove hardship, today banks are often modifying mortgage balances and mortgage interest rates. But is this the best long term solution for you?
Let's say that you bought your house 2 years ago for $1,000,000. You got a mortgage of $800,000. The market for your house bears about $850,000 now, and you have about 6 months left of monthly expenses without going into your retirement funds. If you wait 2-3 months to put your home on the market, then your risk is that you could be putting yourself in a distress situation if the market comes down further or you can't sell your house or both. At that point, without employment it will be hard to find a rental if you can't show proof of funds for the term of the lease. This is another reason waiting is not a good idea.
I can't stress enough how important it is to seek advice right away from a GOOD realtor or attorney you trust to advise you properly before you find yourself in this position. The biggest eye opener to me is how quickly things can change and most people don't realize this.
If you can no longer make your mortgage payments, get your house on the market right away and submit your financial hardship package to your bank. The LAST thing you want to do is let your house go into foreclosure.You can avoid this by selling during the "short sale" or "pre-foreclosure" period!
Here are the MAJOR differences between foreclosures and short sales.Differences that can greatly affect your future:
What a day! 3 open houses on our three new listings - Two are getting at least one offer, and we had 27-30 people at each one. All three of these homes are priced in the $500's. My team was also booked all weekend with buyers. What does all of this mean?
1. There has been so much pent up demand for great AFFORDABLE homes that the nice ones that are priced right are flying off the market.
2. The entry level market has now come down to a level where buyers can jump into the market. Of course the low interest rates have added the cherry on the top.
3. Even in a "buyer's market", you will always be able to re-sell a well priced home with close proximity to trains to NYC. This is what most buyers moving out from NYC are looking for.
4. Has this segment of the market hit bottom?
So where can you find these more affordable homes? Below are neighborhoods in each of the midtown direct trainline towns that are under a mile to the train.
South Orange - South of South Orange Ave, there are two neighborhoods that are easily walkable and you can find housing that won't break the bank. The area between Walton Rd and Wyoming Ave is one ( Conway Ct, Rynda, West End Rd, Lenox Ave to name a few streets) and the streets surrounding Seton Hall University are the other. North of South Orange Ave there are the Hart Dr ranch homes, and further north you can occasionally find a smaller home nestled amongst the larger ones off of Wyoming Ave. The same would be true of the Montrose Section.
Maplewood- Much of Maplewood fits the bill and that's why so many buyers move here from Park Slope, Brooklyn, and NYC. East of Valley Rd, across from Memorial Park, is very popular among the "walk to train" crowd. Here are two examples: www.sueadler.com/35Kensington and www.sueadler.com/36Madison Houses within a few blocks of Maplewood Village may be in the $500k-700k range, but they don't seem to come on the market very often. There are homes on Jefferson Ave and some of the surrounding streets such as Brookside Rd, have sold in the $500k's and 600's as well.
Millburn- The South Mountain Section and Wyoming Sections are the two largest neighborhoods that are "walk to train, town, Taylor Park, Wyoming Elem or South Mountain Elem, middle and high school ". There are also many small streets off of Millburn Ave that are close by as well.Homes range from the $400k's to the 800k's with a few exceptions in the South Mountain Section.In the Wyoming Section you can easily find homes in this range, but there are also more expensive homes over $1Million.
We are fortunate enough to have found one of the very few modern Frank Lloyd Wright inspired homes on Sagamore Road in the Wyoming section of Millburn. We enjoy floor to ceiling windows with dramatic NYC skyline views, open and clean living spaces, walking distance to town and the Midtown direct train into NYC, and appreciative comments from visitors and anyone who's read Dwell Magazine. While some are not in love with modern design, we find freedom and think it's just down right cool! We love living in our tree house, or a sculpture of sorts with Eichler, Mondrian, and Calder inspirations throughout.
If you work in NYC and need the direct train to Midtown New York Penn Station or Hoboken (where you can then take the PATH downtown to the financial district), here are the most convenient New Jersey neighborhoods where you can find the beautiful upscale homes:
Old Short Hills is the area north of the Short Hills train station off of Hobart Ave. Stewart Hartshorn originally developed this as the ideal community, and brought the train line from NYC into the magnificent rolling landscape of Short Hills, which was at the time, all countryside. Truly magnificent one of a kind homes off of quiet winding roads, its no wonder why Old Short Hills is such a sought-after area. A major attraction of Short Hills is that it is part of the Millburn School District, the highest rated school district in NJ. There are also private school options as well.
Northside Summit - The area north of Springfield Ave between Woodland Ave and the Whittredge Green area consists of some of the most stunning homes you've ever seen. ( I really didn't mean for that to rhyme!) From tudors to Victorians, to brick manor homes, you'll pay a hefty price tag, but if you can afford it, this is truly the best of all worlds. Summit also has a very highly rated school system. There are many renowned private schools in Summit as well.
Wyoming and Montrose Sections of South Orange were planned as a haven for wealthy New York businessmen looking for stylish large homes away from the city - the area's first commuters. The fact that the commute into Manhattan is only 25 minutes from South Orange is a big draw to commuters who aren't willing to sacrifice a short commute for their estate home. These homes of history between Ridgewood Rd and Wyoming Ave in the Wyoming Section, and between Scotland Rd and Grove Ave in the Montrose Section, have magnificent craftmanship, beautiful mature plantings, and have historic gas lights along their tree-lined streets. Prices are much less than Summit or Short Hills, but the taxes tend to be equal to ( and sometimes a little higher) what the taxes for the same house in Short Hills or Summit would be, so keep that in mind because home buyers normally compare by price range town to town, not size of home. Check out "Tulip Hill" circa 1906! Asking $1,095,000.
When I moved to Chatham last year from Short Hills, it felt like I was moving to another country, yet it is only one town over! I was used to Millburn Ave, not Main Street! and I swear the leaves on the trees were a duller shade of green. After 25 years of living in Short Hills, I was "a woman without a neighborhood," homesick and lost.
What I've come to learn, is that the Summit, Chatham and the Short Hills areas are more closely connected than I ever realized. It just took a personal move to find out.
Gregorio's can get really busy, so be sure to get a reservation and bring your own wine which I always consider a plus. A few other local hot spots on Main Street and not to be missed; Seranade , fine dining to perfection. A Taste of Asiais Malaysian cuisine. For those who don't know what that is, it's a mix of Chinese and Thai food. Yum! Chatham of course has a Japanese restaurant. Mitsuba . I've been to my fair share of sushi places. This might be one my favorites of all times!
Since most home buyers only see the Active Listings and Price Reductions, I think its important to show you (link) everything that has gone under contract in our Midtown Direct Towns since October. Homes showing Sale Prices have Closed. If you'd like a more detailed analysis, Just give me a call (973)464-9129
Join the Sue Adler team
at our 3 New Listings
Open Sun, 2/1, 1-4
All 3 are close proximity to NYC direct trains.
Click House Photos Below for
Detailed Info & Virtual Tours
Classic Colonial in Maplewood OPEN HOUSE Sun, 2/1, 1:00-4:00! This picture perfect 3 bedroom, 2.1 Bath Colonial will grab you and pull you right in! Type: Single Family Home Location: Maplewood, 35 Kensington Price: $559,500 Get more information >
Col w/ Great space,condition, setting OPEN HOUSE Sun, 2/1, 1:00-4:00 Don't miss the Interactive Floorplan! Sunny, flowing 4 BR, 2.1BA Colonial on a beautiful .62 wooded acres with creek, spacious rooms, updated Eat-In Kitchen and Master Bedroom Suite with dressing area. Type: Single Family Home Location: New Providence ( Summit zipcode) Price: $569,000 Get more information >
Spacious Sunlit Maplewood Colonial OPEN HOUSE Sun, 2/1 1:00-4:00! Grow into this spacious, sunlit, move in condition 5 BR 2.2 bath Maplewood colonial on quiet tree-lined street. Close proximity to Maplewood Village, Memorial Park, and trains to NYC! Type: Single Family Home Location: Maplewood, 36 Madison Price: $585,000 Get more information >
View Other Featured Listings By Appointment (973)464-9129
Exquisite 4 yr brick col on cul de sac! Tucked away on quiet cul de sac in enclave of upscale homes, you'll find this "better than new" 5 BR, 3.2BA brick colonial with breathtaking views of Chatham Township parkland. This custom home has high ceilings, spacious rooms. Type: Luxury Home Location: Chatham Township Price: $1,675,000 Get more information >
Awesome Glenwood Tudor on double lot! Just reduced! The one you've been holding out for! 4 BR, 2.2 bath sunny, move in condition Storybook Tudor on oversized lot in Glenwood section of Short Hills, just a few blocks from train, schools & Millburn Ave shops & res Type: Single Family Home Location: Short Hills, 11 Pine Ter East Price: $1,095,000 Get more information >
Magnif 3 sty brick col circa 1906 JUST REDUCED! Set back off of long driveway, in private oasis in the Wyoming section of South Orange, this enchanting 7 bedroom, 4 1/2 bath, three story brick Colonial known as "Tulip Hill" was built circa 1900.EZ walk to train! Type: Luxury Home Location: South Orange, Wyoming Section Price: $1,195,000 Get more information >
Still time to customize! Still time to customize this incredible new construction situated across from the Oakey Tract woods. Everything about this home was thought through beautifully. See full description & floorplans. Type: New Construction Location: Short Hills, 102 Hartshorn Price: $3,790,000 Get more information >
We are fortunate enough to have found one of the very few modern Frank Lloyd Wright inspired homes on Sagamore Road in the Wyoming section of Millburn. We enjoy floor to ceiling windows with dramatic NYC skyline views, open and clean living spaces, walking distance to town and the Midtown direct train into NYC, and appreciative comments from visitors and anyone who's read Dwell Magazine. While some are not in love with modern design, we find freedom and think it's just down right cool! We love living in our tree house, or a sculpture of sorts with Eichler, Mondrian, and Calder inspirations throughout.
Market updates & home buying and selling advice for real estate in our awesome NJ towns.
Expert advice from Sue Adler, the #1 Keller Williams Agent in New Jersey for 2005 through 2008
Sue Adler Team Blog:
www.NJExperts.com
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July 5th, 2009 by Sue Adler 
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When job loss occurs, the effect on families can be absolutely traumatic. I feel I'm taking a risk by discussing this so openly because its such a sensitive, personal topic to so many people but I don't think I could live with myself unless I get this information out there to people who may need it. 
South Orange - South of South Orange Ave, there are two neighborhoods that are easily walkable and you can find housing that won't break the bank. The area between Walton Rd and Wyoming Ave is one ( Conway Ct, Rynda, West End Rd, Lenox Ave to name a few streets) and the streets surrounding Seton Hall University are the other. North of South Orange Ave there are the Hart Dr ranch homes, and further north you can occasionally find a smaller home nestled amongst the larger ones off of Wyoming Ave. The same would be true of the Montrose Section. 
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