James Thomas Boyer

I found this very funny video today and thought that you would get a kick out of it.  You have to read the subtitles, but the story is very accurate, and points out how stupid many New Jersey home buyers were, as well as many more home buyers in other states which were hurt much worse than New Jersey.

Video not about Summit NJ Real Estate !!

I found this real estate video to be hilarious and hope that you enjoy it.

James Boyer, Summit NJ REALTOR if you are interested in knowing more about Summit New Jersey and or interested in seeing all the Summit NJ homes for sale listed in our local MLS system stop by jboyerhomes.com

Happy holidays and here is to us poor suckers who were conservitive in our spending habits, and put money down when we purchased homes, and lived below our means so that we could save for our futures.

Summit NJ Real Estate | Summit NJ REALTOR | Summit NJ homes for sale | Summit New Jersey

There has been a lot written about Summit NJ Real Estate sales over the past few years, but what about the statistics on the expired listings (homes listed for sale that did not sell)?  How many of them are there, why didn’t they sell, is there anything they have in common, is it just the market is bad, or are there other reasons?

Here are some statistics on Summit NJ Expired Home Listings:

2008 Expired Summit NJ Real Estate Listings — 88
2007 Expired Summit NJ Real Estate Listings — 55
2006 Expired Summit NJ Real Estate Listings — 47
2005 Expired Summit NJ Real Estate Listings — 24
2004 Expired Summit NJ Real Estate Listings — 19
2003 Expired Summit NJ Real Estate Listings — 45
Stats are for date range of 12-2 of a year through 12-2 of the following year.

During the past 12 months there have been 250 home sales in Summit New Jersey compaired to the 88 expired listings.  2007 had seen 292 Summit NJ Home Sales so the number of home sales is down but not that much.

As you can see the number of expired Summit NJ Home Listings is at the highest level since before 2003.  The number of expired listings seems to be going up as price appreciation stalled and then went even higher as home values in Summit New Jersey actually started to fall.  This is a clear indication that these particular home sellers did not have the proper market perspective when it came to pricing their homes.

Here is a list of common mistakes home sellers make when getting ready to sell their homes:

• They don’t interview more then one Realtor to market their home.

• They select their Realtor based on the company he/she is associated with. (Home buyers do not care if your home is listed for sale with RE/MAX, Weichert, Coldwell Banker, Prudential, or any of the other big name companies).

• They select their Realtor based on which Realtor quotes the highest listing price. (Many home sellers believe that this is an indication of skill or marketing abilities.  In most cases it is  in reality someone playing on your perceptions.)

• They over price their home.  This in many cases is related to the point above.

• They believe that just because they want a certain price, or have debt on the home at a certain level, that any of that has any bearing on what a home buyer will be willing to pay.

• Many home sellers seem to think that all Realtors are the same when it comes to marketing.  This could not be further from the truth, in fact there are some very big differences between a great Realtor and the average.  This can be explained by the top 10% typically doing about 90% of all the real estate transactions in a given year.

So if you are one of the expired home sellers reading this, please don’t take this information personally or as an attack on you.  Just use the information to avoid making the same mistakes again.

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

October was a interesting month for home sales in Morristown New Jersey.  With the credit crunch there were certainly some home purchase deals which fell apart because of mortgage companies not wanting to fund the home purchase loan, and there were some home buyers who were scared away by all the bad news. 

It happens every presidential election year where a new person takes office.  Everyone becomes much more possitive once the new guy is elected, and the possitive attitude only increases once the newly elected president takes office.

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.

Summit NJ Real Estate | Get Your Next Home Here

The Summit NJ Real Estate market continues to preform much better then the New Jersey Real Estate markets in general.  As anyone who knows much about Summit New Jersey, Summit is one of those special places that seems to have everything going for it.  To be truthful, Summit New Jersey has its issues just like any other town here in New Jersey or dare I say accross America.

For many people outside of New Jersey, Summit tends to be a starting place for doing research on the area and deciding where they should buy their next home.  This is because Summit is one of the best known towns in New Jersey, well best known for all it’s positive aspects.

Some of the many positive things Summit New Jersey is known for.

• Great Public Schools, Summit’s schools are continually rated among the best in the state.
• The Midtown Direct Train Line, from Summit you can be in Manhattan in 37 minutes.
• Wonderful, Walkable Downtown. There are many great Restaurants, Shops, and more
• Historic Victorian and Colonial architecture, Summit’s tree lined streets are a site to behold.
• Summit NJ is just minutes from the Short Hills Mall, The most upscale mall in America.

Thinking of buying one of the Summit NJ homes for sale, or looking for New Jersey homes for sale visit jboyerhomes.com where you will find every home listed in the MLS system.

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

I started this post off with the title of a day in the life of a busy Summit New Jersey REALTOR but changed my mind a little bit.  The reason I decided to post on this topic was that this past Sunday, I was showing houses in Summit New Jersey, some may say big deal, but I was not showing houses to 1 family, I was showing houses to 3 different families. 

The day started off at 9am with a family interested in homes not only in Summit but Chatham and Madison New Jersey as well.  This family has been doing their research for the past 5 months now, and about 3 months ago they found me on the internet, and have been doing much of their research using my website, Summit New Jersey Real Estate.  we had a blast looking at homes Brainard Rd. to Baltusrol Rd.  We had a very productive morning. (more…)

June has been a fairly busy month for the Summit NJ Real Estate market.  With 31 homes transferred to their new owners, the Summit NJ Real Estate market is off to a great start.  Want to see all the homes currently for sale in Summit New Jersey?  Visit Summit NJ Homes For Sale. (more…)

Starting in the 1980’s and continuing through about 2005, people in many suburban areas of New Jersey, have elected to live further away from their jobs with a larger drive to work in order to find more affordable homes. This trend is now starting to reverse for many reasons, some of which we will touch on in this article. (more…)

March of 2008 was a fairly good month for home sales and closings in Summit NJ 07901.  There were 22 homes which sold and closed with price ranges from about 400K all the way up to 3.2M. (more…)