The spring real estate market here in Morristown NJ got off to a slower start than the 2008 market did.  Things seem to be shifting a little bit though as we head to the latter part of the spring home selling market. 

Some evidence that has effected me personally, the new home listing I put on the market last week at 28 Dellwood Ave in Morris Twp. had a great open house with more then 25 visitors, and the number of showings during the week has been very strong with more than 12 showings in the first 6 days.  Also the number of people I am talking to who are getting pre-approved for mortgages and going out to look at homes has gone up quite a bit the past 5 weeks, as compaired to the beginning of the year.

Morristown NJ Real Estate Sales April 2009

1. 13  COBB PL  $179,900LP  Colonial 3br 1ba $185,464SP  81DOM
2. 3  BELLEVUE TER  $192,900LP  Colonial 3br 1ba $190,000SP  112DOM
3. 27  COBB PL  $259,900LP  OneFloor 1br 1ba $235,000SP  103DOM
4. 17  LIBERTY ST  $324,900LP  Colonial 2br 2ba $313,000SP  112DOM
5. 19(aka15)  Willard Place  $349,000LP  Colonial 3br 1ba $335,000SP  34DOM
6. 11-B  DORADO DR  $359,000LP  TwnIntUn 2br 2.2ba $344,000SP  27DOM
7. 47  LAKE ROAD  $374,900LP  Colonial 4br 3.1ba $390,000SP  253DOM
8. 7  Prospect Street 501  $379,900LP  OneFloor 1br 1ba $317,000SP  32DOM
9. 177  MILLS ST  $415,000LP  CapeCod 3br 2.1ba $397,500SP  19DOM
10. 23  SAND HILL RD  $425,000LP  CapeCod 4br 2ba $429,000SP  28DOM
11. 43  Georgian Road  $475,000LP  Colonial 3br 1.2ba $445,000SP  68DOM
12. 13  DOGWOOD RD  $479,900LP  SplitLev 4br 2ba $461,000SP  56DOM
13. 44  Macculloch  $999,000LP  Victrian 7br 3.1ba $970,000SP  24DOM

The Town home which sold on Dorado Dr. is part of the very popular Convent Mews Town home community located on the border of Morristown and Convent Station (Popular Morris Twp., Neighborhood).

 The Prospect Street condo is part of the Vail Commons high rise project located between Prospect St. and Speedwell Ave. on Morristown’s North Side.

James Boyer
Morristown NJ Realtor
Morristown NJ Real Estate Expert
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct

OK, I found this clip at the bloodhoundblog.com (a real estate & mortgage blog out of Phoenix AZ) posted by Greg Swann.

I think this is really how the average New Jersey home buyer and seller see’s what is going on in Washington.

Morristown NJ Real Estate comentary 

Thankfully here in the Morristown NJ real estate market area we are not seeing very many foreclosures or companies needing bailouts compared to other areas of New Jersey or the Nation.  To be sure home pricing trends here in Morristown NJ are still week, and it is still  very good idea for home sellers in the Morristown area to try to get ahead of the market if they really want their home to sell. 

Pricing ahead of the market involves finding the most relevant comparable homes to have sold in the last 3 months and being sure to price 2% to 4% below their sold price to ensure that you the home seller are very competitive as compared to the current homes for sale.

James Boyer
Morristown NJ Realtor
Morristown NJ Real Estate Expert
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Cell

morristown nj real estate, morristown nj realtor, remax properties unlimited

Morris Twp. NJ 07960 Home For Sale $349,000

23 Highland Ave. Morris Twp. NJ 07960 home for sale 

Three bedroom, one and a half bath Split Level home on 0.33 acre level lot offers one car garage with opener, gas forced air heat, central air, public water and sewer. First floor has entry foyer, Living Room with hardwood flooring, Dining Room with hardwood flooring, kitchen with dishwasher and newer gas range. Second floor has three bedrooms, hardwood flooring, full bath and two linen closets. Walk out lower level has family room with laundry area and powder room. Partially finished basement rec room and storage room. Asking $349,000.

To schedual your private home showing contact James Boyer RE/MAX Properties Unlimited, please indicate the property you are interested in.

MLS #  2660427 

James Boyer
Morristown NJ Realtor
Morristown NJ Real Estate Expert
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct

For market statistics and analisys visit the Morristown NJ Real Estate Report.

The Morris County Saint Patrick’s Day Parade will be held once again on Morristown NJ’s South Street.  Starting at the Morristown City hall and heading West down South Street around the Morristown central green and then out Washington Ave.  The parade starts at Noon on March 14th and tend to run for over 2 hours as it is the largest Saint Patrick’s Day Parade in all of New Jersey.

There There will be about 20 bands with about 50,000 in attendance either in the parade or as spectators.  Come celebrate with the Irish and their friends as we recognize their contribution in building a great America.

Morris County Saint Patrick’s Day Parade 2009 / Morristown NJ 07960

Article brought to you by James Boyer of RE/MAX Properties Unlimited located at 1 Madison Ave. Morristown NJ 07960.  A expert in the Morristown NJ real estate market, for expert advice and exceptional service whether you are looking to buy or sell a home call on your Morristown NJ area Realtor James Boyer.

Tags = Morris County Saint Patrick’s Day Parade 2009 Morristow, Morristown NJ 07960, Morristown NJ Real Estate, Morristown NJ Realtor

2008 is happily over and the 2009 spring Morristown NJ real estate market has already begun.  This article will cover the condo sales in Morris Place during 2008.  You will see the actual Morris Place addresses as well as list prices sold prices as well as comentary on each Morris Place condo.

The Morris Place Condominiums Sold 2008

Morristown 39 Taft Lane  $435,000LP  TwnEndUn 2br 2.1ba $411,000SP  146DOM
Morristown 85 Taft Lane  $454,900LP  TwnIntUn 2br 2.1ba $435,000SP  30DOM
Morristown 27  Taft Lane  $455,000LP TwnEndUn 2br 2.1ba $435,000SP  37DOM
Morristown 46  Taft Lane  $459,900LP  TwnEndUn 2br 2.1ba $450,000SP  84DOM
Morristown 31  Taft Lane  $465,000LP  TwnIntUn 2br 2.1ba $435,000SP  87DOM
Morristown 64  Taft Lane  $469,000LP  TwnEndUn 2br 2.1ba $439,725SP  100DOM
Morristown 48  Taft Lane  $489,000LP  TwnEndUn 2br 2.1ba $470,000SP  119DOM

There were a total of 7 condos sold in Morris Place during all of 2008.  This compairs to 6 Morris Place condos sold in 2007.  So sales are not down in Morris Place, not a huge surprise to me since the sub $500,000 segment of the market has been the strongest by far all year in Morristown New Jersey.

Morris Place Condominium Price Statistics

The average sold price in the Morris Place condo community fell from $478,000 in 2007 to $439,389 in 2008.  The median sold price fell from $480,000 in 2007 to $435,000 in 2008.  The average time to sell a Morris Place condo went from 58 days in 2007 to 86 days in 2008.

Morris Place Condominium Sales Commentary

• 39 Taft Lane  A fairly plain (for Morris Place) condo, which was very over priced from the start.  The starting list price was $484,500 which was a good $50,000 high to start things off, and kept the home buyers away in droves.

• 85 Taft Lane  A nice Morris Place condo with a fairly upgraded kitchen and was priced near right from the start.  This condo sold in a reasonable amount of time for about the maximum the sellers were going to get.

• 27  Taft Lane  A nice Morris Place condo, more upgraded kitchen.  This condo was priced about right from the start.

• 46  Taft Lane  A nice Morris Place condo, upgraded kitchen, new Brazilian cheery floors, condo showed very nice, hit the market at the end of the spring, and got hit by the credit crunch of the fall.  Pricing was close to perfect, but if it had been a little lower likely would have sold faster.

• 31  Taft Lane  Nice condo without wood floors, priced to high to start with at $485,000 sat on the market for a while, had a price reduction then sold for $435,000.  Should have been priced about $450,000 to start with, likely would have sold faster and closer to $450,000

• 64  Taft Lane  End unit Morris Place condo, Nice wood floors, moderately upgraded kitchen, priced to high for what it was.  Then again it was listed for sale on 9/17/2007 which was a different real estate market in Morristown New Jersey.

• 48  Taft Lane  End unit Morris Place condo listed 10/24/2007 Nice upgraded kitchen, had nice upgrades and a loft.  Sold in the spring market of 2008 and not affected by the credit crunch.

The views expressed in the Morris Place Condominium Sales Commentary are my own, based on my market experence working with many buyers and sellers in and around Morristown New Jersey.

2009 Morristown NJ Home Sales

2009 is likely to be a better year for home sellers.  The Federal Government has vowed to do what ever it takes to end the housing downturn, they are even currently buying up mortgage backed securities (bundled mortgages).  There are literally hundreds of would be Morristown NJ home buyers sitting on the sidelines timing the market, waiting for the giant news paper headlines saying it is ok to buy a home, and prices as well as interest rates are still down.  Though I do not think that prices will start to move dramatically higher in Morristown New Jersey during 2009, I do think that the 20% of homes that are priced right show really well, will start to move even faster then they had been.

If you are a would be Morristown NJ home buyer waiting for those giant news paper headlines saying it is ok to buy a home please understand, those headlines will only come well after the optimum time to buy.  The news media is always late to the table with news you can actually use.

Cheers,

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

 The Community Food Bank Fail! No Way!!

We all know that times are tuff, the economy is slow, people are losing their jobs, and fewer people are able to contribute to charity.  It is possible that people could be going hungry with all this going on.

You can help.  Please give a little bit.  Contribute to the Community Food Bank of New Jersey.

People of all walks of like are finding times tuff, we in the New Jersey Real Estate business have been feeling the pain of the downturn of the New Jersey real estate markets for the past 2 years now and many of my fellow New Jersey Realtors have had to leave the business to be able to support their families.  Those of us who are holding tuff and sticking with the the business in places like the Morristown NJ real estate market will be giving back in any way we can.

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

Community Food Bank of New Jersey | New Jersey Real Estate | New Jersey Realtor | Morristown NJ Real Estate, Morristown NJ Realtor | MLS # 2600522

Fall in Morristown NJ is traditionally a good time to sell a home.  This year, it is turning out to be a good to buy a Morrisotown NJ Home.  So far this year we have had better than 150 homes sell here in Morristown, so homes are selling, but they are selling for a discount compaired to 2oo7.

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.

This press release showed up in Reuters.

”

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

We have seen yet another slowdown in home sales here in Morristown.  Not a big surprise considering all the bad things happening in the financial markets, and the failure of several large banks.  People just get a little worried.  For home buyers looking for a good deal these are not times to go and hide though.  These are the times that you go out there and find the home of your dreams.  Why, because you are more apt to get a great deal since you are likely one of the only home buyers who is looking at it.

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

Morristown NJ Real Estate

It is always darkest before the dawn.

This will be a summary of September 15, 2008 in the life of a Morristown NJ REALTOR.

The day started as most every other Monday morning during the school year does.  Up at 7:30am to help my 10 year old son get ready for school.  We deal with ADHD (Attention Deficit Hyperactivity Disorder) in our house, so no TV in the morning, just breakfast, talking about the day, and getting ready.  By 8:26 we are out at the bus stop, waiting for the bus and talking with one of the neighbors who works for one of the Investment Banks on Wall Street in Manhattan.  The comment comes that he got a call early that morning stating that he should be in Manhattan this morning rather than in Chatham New Jersey, where he had planned to be today.  Then after his kids are on the bus, he says I am off to another day of watching the world fall apart.  After he is gone, I wonder to myself, that is strange that he would be ordered to be in Manhattan, I wonder if he will be getting his pink slip today, he does not work for Lehman Brothers or Merrill.   Then I am happy that I was not wondering this while talking to my neighbor.

Into my home in Convent Station I go to do some work, I work from home many days as I find I get more done than if I am in the RE/MAX Morristown New Jersey office, where other REALTORS just keep asking me questions all day.  While I have my coffee and read my e-mail, I turn on NBC to watch a little bit of the morning show.  There are some references to Wall Street troubles, so I click over to CNBC to see what they have to say.  Not good, all about Lehman and Merrill and how they are basically toast.  I decide to leave it on while I reply to e-mail and then work on client follow-up and other tasks. 

While I am working and the gloom and doom is being laid out for the world to see on CNBC I get an e-mail from a soon to be new client asking about a few condos in the Morristown NJ real estate market.  This person has included a phone number as well, so I give them a call.  We have a nice conversation and they agree that with mortgage interest rates considerably lower now is a very good time to be a Morristown NJ home buyer.

I get to lunch time and decide that after lunch I will go to the gym for a workout.  On the way to the gym, I get a call from a home owner who I had made an appointment to show her home on Tuesday.  She is calling to cancel as her Convent Station home has now gone under contract and she did not want any more home showings.  I have a nice workout, all the bad news is on most of the monitors, I try not to watch but that proves difficult.

After leaving the gym, I stop by the RE/MAX real estate office in Morristown to check on my mail and see if there is any paperwork that I need to attend to there.  While at the office I receive a call from another Morristown NJ home buyer who I have been talking with since last week.  This one is calling to say that she has just gotten her mortgage pre-approval letter finished.  She was approved for a higher purchase price than she had thought she would be, but she would like to stay below that number by at least 20%.  Yet another home buyer who is interested in Morristown NJ real estate.  

Tonight, I get a call from a client I have been working with for a few weeks.  They would like me to come over with the paperwork to list their Convent Station home for sale, as they are ready to move up and purchase a larger home for their family.

I believe that yes it is darkest before the dawn, and for the Morristown NJ area real estate markets the dawn is about to arrive.

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

More Morristown NJ Home Sales news here.

To see the October home sales, visit Morristown NJ Real Estate sales October 2008