Here is what you need to know about buying a foreclosure in New Jersey before you get all excited about it.

• When buying a foreclosure there is no option to do a home inspection.
• When buying a foreclosure the foreclosing bank will not turn on the water, electric, gas, or other utilities.
• When buying a foreclosure you the buyer are responsible to get the Certificate of Habitability that many towns here in Northern New Jersey require.
• The risks of purchasing a foreclosure are high compaired to purchasing a regular home, but so are the potential rewards.

If you are thinking of purchasing a New Jersey foreclosure home it would be wise to work with a New Jersey Realtor who has purchased foreclosed property in the past and has flipped property successfully.  That way you can improve your chances of success in this potentially very rewarding investment.

James Boyer
New Jersey REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct

Excellence in Summit NJ Real Estate and surrounding communities.

As of November 1 there had been 10 homes which sold and transferred to their new owners.  Of these homes, the average sale price was $399,300 with an average of 95.4 days on the market to sell.  These Morristown homes on average were 3 bedroom 2 bath homes.  To see the actual home sales and addresses for the sold homes for the Morristown NJ Real Estate market in October.

For home buyers though, bad news for the financial markets tends to be good news for home buyers.  Yes some of the home buyers out there are finding that their jobs are in jeopardy and I feel for them, but for many others this bad news only means that the deals have gotten a little bit better, and the mortgage rates have gotten better. 

Personally, I have been looking at all the homes for sale here in Morristown NJ, along with the home buyers who are working with me, and have decided that it is time for me to take the plunge back into the home flipping business.  I have been researching several properties here in Morristown, and have found that in the neighborhoods they are in, I can afford to purchase these homes, spend money fixing them up, and expect to make a 12% to 16% profit on them without having to ask more than the average selling price in their neighborhoods.

If you are thinking that you might want to start investing in New Jersey real estate, visit my website at Morristown NJ Real Estate where you can find every Morristown NJ home for sale.

James Boyer, Morristown NJ REALTOR. for more information about Morristown New Jersey, Chatham New Jersey, and Summit New Jersey visit the linked to sites here.  Northern New Jersey really is a very nice place to live and call home.

With interest rates down, and home prices discounted, now is a very good time to be considering the purchase of Morristown NJ Real Estate.

More information about Morristown New Jersey and Chatham New Jersey or Summit New Jersey visit one of the links here.  All of these towns are very good places to live and have some very good home buys availible.

James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 office
973-647-0253 direct

Excellence in Morristown NJ Real Estate,  stop by my other blog for more information about the Morristown NJ real estate market.

For the latest report on Morristown NJ home sales visit this link.  These are interesting times in the local New Jersey real estate markets.

Kathy Roberts, the CEO of the Sarasota Association of Realtors (SAR), has been all over the web trying to do some online reputation managment, or someone claiming to be her anyway.  In this attempt she has been making statements which look to be half truths, such as the Sarasota Association of REALTORS having the trade mark rights to Sarasota MLS for over 50 years, when they only applied for that trade mark in July of 2008, and it is not even clear if that trade mark has been granted yet.  Mean while Mark purchased the rights to the domain Thesarasotamls.com back in 2003 when even the National Association of REALTORS (NAR) was recommending in it’s own publications that to do so was just plain good business practice, and recommending that it’s members do so. 

Helen Sosso  The president of the Sarasota Board of REALTORS for 2008 has said:

“I want to use my year as president to encourage our members to be more cooperative, and more professional in our dealings with one another. We all have the same inventory of properties to sell, and it’s more important than ever in the current market that we all work together and maintain our professionalism.”

As posted on Knox’s blog linked to below.  I don’t think this action and Helen Sosso’s statment above quite jive!!

Now that NAR has decided to change the rules, they need to understand the amount of work and money it takes to build up a domain name such as Mark’s domain TheSarasotaMLS.com and how their attempts to take it away will destroy his business.  Of course  Kathy Roberts, the CEO of the Sarasota Association of Realtors likly already knows what it will do to Mark and his business, and that is her goal.

For more great information on this nasty subject visit:

The Sarasota MLS

Sarasota Association of REALTORS - in need of online reputation management help

Sarasota Association of REALTORS (SAR) Slaps One of its Own

TheSarasotaMLS.com Gone

And of course a little support for Mark’s new domain  Sarasota Real Estate

It is such a shame that a board of REALTORS would go after one of it’s own like the Sarasota Board of REALTORS has gone after Mark.  Please visit the above links to get the full detailed story, and a look at one of the villains of the crime.

Wishing you all the best Mark,  James Boyer REALTOR Chatham NJ Real Estate

For More information about Chatham New Jersey and Morristown New Jersey.

The general public’s attitude has been so negative over the past several months, negative to the point that it is not sustainable.  I think that it is not going to take much to turn things moderately more possitive.  These sorts of things tend to feed on themselves actually.  Once the public’s mood starts to turn, more possitive things will start to happen, and then the next wave of possitive things will happen.

I believe that the New Jersey real estate market will be this way as well.  Just this weekend, I took 3 different couples out to look at homes, and I have to say that the deals were so good, that all of them were amazed.  Two of the three couples are seriously considering putting offers in on homes we looked at this weekend.

To me this is a very good sign for the Morristown NJ real estate market, as well as Chatham New Jersey and Summit New Jersey.  For more information about Morristown NJ homes for sale visit the Morristown website listed here.

Click to see the full size stats sheets: 

 As you can see, there have been lots fewer homes sold this year than in the same period of 2007.  On the flip side of things, homes are selling.  In the past 6 months we have had 165 homes sell here in Morris Twp.  I have sold homes in Morris Twp this year, and let me tell you, once you put the right price on a home, they buyers descend on it like lions on a gazelle.  The Morris Twp NJ real estate is really not that bad, and there sure are some very good deals in this very wonderful area of New Jersey.

For more local information visit Morristown New Jersey which has a growing amount of information for you to call upon.  There are also great market stats for the Morristown NJ real estate market.

James Boyer
Morris Twp NJ REALTOR
RE/MAX Properties Unlimited
973-647-0253 Direct
973-539-6300 Office

morris twp home sales

Everyone is checking credit these days, even car insurance companies.  I don’t really know what your credit score has too do with how good you drive, but many of the insurance companies seem to think it is a big deal.

You can find out your credit score by getting pre-approved for a mortgage, in most cases it is totally free to do so.  You can also go to websites on the internet such as freecreditreport.com though you should be careful, they are going to ask for your credit card information, and if you don’t cancel within 30 days they will charge you $9.95 per month for their credit watching service.

This article created by James Boyer, Full Time Professional REALTOR.  Proudly helping buyers get great deals on Morristown NJ Real Estate with extensive knowledge of the area, and superior negotiating skills.  For more local information about Morristown New Jersey visit my websites.

”

One of the largest U.S. real estate brokerages on Monday said it is asking its sellers to cut listing prices by as much as 10 percent to kick-start U.S. home sales in a market plagued by a two-year price slump and near-record unsold supply.

Coldwell Banker Real Estate said some 25,000 sellers listing homes with its brokers will cut prices during its first national, 10-day sales event starting on Friday that aims to lure potential buyers off the sidelines of the worst housing market since the Great Depression.

Most owners still are unrealistic when pricing their homes, and a reduction of 10 percent or less would push the properties “over the tipping point to a sale,” according to Coldwell Banker, which is based in Parsipanny, New Jersey, and is part of Realogy Corp.

“The main driver is to bring buyers and sellers together and to increase the activity in the marketplace,” Jim Gillespie, president and chief executive officer of Coldwell Banker, said in an interview.
…
Many sellers have been reluctant to slash asking prices, however, and face competition from the large number of foreclosed homes on the market at discounted prices.

A recent Coldwell Banker survey found that more than half of the real estate agents said listing prices in their market are too high to attract qualified buyers. Brokers, however, believe that, depending on the market, a price cut of up to 10 percent will be enough to stoke sales.

Kathryn Taylor is one seller who hopes that’s the case.

“The economy. No movement for our home, or even any interest, just because people are scared,” she said, explaining her decision to cut the asking price on her parents’ home in Silver Spring, Maryland, by 10 percent for 10 days.

The two master-bedroom, two-bathroom home in an over-55 community was listed in May at $458,000, undercutting several nearby sellers of the same model.

“This is the first time we’re lowering it, and we really didn’t want to do that because we listed it to sell,” she said. “We knew things were tough, but the home is a really desirable unit in a neighborhood that rarely has anything come open so we didn’t think it would have any problems selling.”
…
Taylor, a retired government employee, is getting “more antsy” about selling. Her father passed away last year and her mother is moving to a nursing home that costs $9,000 each month.

With stock wealth being roiled, “it’s getting more and more important to keep her afloat by selling this house,” she said of her mother.

Sellers can opt to keep their asking prices lower after the 10-day sale, according to Coldwell Banker.”

Now I realize that every REALTOR is his or her own indepent business, though the company in the press release really does not treat it’s real estate agents that way, but really.  Perhaps the big traditional real estate companies should have some training sessions on properly pricing a home.  It sure does seem like many of their real estate agents follow the price it 10% too high to make sure you get the listing, then hit the home seller with a big price reduction.

James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct

To find all the great Morristown New Jersey homes for sale, visit Morristown NJ Real Estate

If your in the market for a Morristown New Jersey home, be sure to stop by the best MLS home search in the area.  Morristown NJ Real Estate

Here are the 9 homes which sold in Morristown New Jersey during September.

1. 20  Vail Place  $219,000 LP  Colonial 3 1.1 $280,000 SP  89 DOM
2. 6  Altamont Court  $262,800  OneFloor 1 1 $256,600  70
3. 12  THOMPSON ST  $289,900  Colonial 3 1.1 $296,800  152
4. 74  HILLAIRY AVE  $299,000  CapeCod 3 2 $285,000  31
5. 7  PROSPECT ST.  $359,900  OneFloor 1 1 $350,000  173
6. 6-8  AMES ROAD  $399,900  Bi-Level 4 2 $380,000  239
7. 9  KENMUIR AVE  $449,900  Colonial 3 2 $438,000  74
8. 34  Harding Terrace  $479,900  SplitLev 3 2.1 $460,000  128
9. 6  COLLES AVE  $565,000  Colonial,Victrian 4 1.1 $557,500  147

If your a first time home buyer in Morristown NJ or a move up home buyer, with a home to sell, give James Boyer a call 973-647-0253 you will get service above and beyond the ordinary.

 James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct

Here are the Chatham NJ Home Sales for the month of September 2008

1. 61  Woodland Road  $449,000 LP  SplitLev 3 1.1 $449,000 SP  141 DOM
2. 141  HILLSIDE AVE  $497,900 LP  CapeCod 3 2 $460,000 SP  141 DOM
3. 10  CORNELL PL  $499,000  SplitLev 3 1.1 $480,000  192
4. 14  CHARLES PLACE  $527,000  Custom 3 2 $514,000  116
5. 39  Woodland  $529,000  SplitLev 4 2 $512,000  6
6. 35  Roosevelt Ave.  $599,000  Colonial 4 1.1 $585,000  113
7. 12  VAN DOREN AVE  $619,000  Colonial 3 2 $621,900  13
8. 52  North Hillside Ave  $649,900  Colonial 4 1.1 $634,900  62
9. 39  Schindler Ct  $819,000  TwnEndUn 3 2.1 $809,500  43
10. 25  Meadowbrook Rd  $949,900  Colonial 4 2 $920,000  19
11. 20C  Kensington Road  $365,000  OneFloor 2 1.1 $360,000  79
12. 5H  Heritage Dr  $375,900  OneFloor 2 1 $362,500  68
13. 115  Huron Drive  $1,299,000  Colonial 4 2.1 $1,244,000  65
14. 5  TREE TOP LN  $1,599,000  Colonial 5 4.1 $1,550,000  64
15. 361  Shunpike Road  $1,775,000  Colonial 5 4.1 $1,635,000  99
16. 123  HIGHLAND AVE  $1,965,000  Colonial 5 4.2 $1,865,000  69

Chatham New Jersey is a very nice place to call home.  It has all the advantages which will help home prices do much better then the average in New Jersey. 

James Boyer
Chatham NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct