Closed Sales Fourteen new happy homeowners in Basking Ridge this month (addresses in bold closed since the last Basking Ridge Real Estate update): 441 King Georoge Road: $639000/$62000020 Stacy Lane: $749000/$720000203 Alexandria Way: $224900/$21500015 Tamarisk Court: $1089000/$99900023 Hadley Court: $834900/$8150003287 Valley Road: $699990/$687500378 Grist Mill Drive: $1085000/$999000217 Irving Place: $244900/$230000109 Woodward Lane: $319000/$295750347 Lyons Road: $769000/$72500075 N Maple Ave: $525000/$500000196 Irving Place: $299900/$29800023 S Dexter Drive: $595000/$57500014 Rockridge Court: $1899999/$1845000 There were seven new listings here in town and only one contract sale.  Search available homes and townhomes for sale in Basking Ridge. Absorption Rates There are currently 13... 01/27/2011

Basking Ridge, NJ Basking Ridge, NJ is one of the most sought after communities in Northern NJ.  Basking Ridge encompasses Bernards Township and Liberty Corner in its 23 square miles of rolling hills and old farmland converted into classic neighborhoods and upscale developments.  This prominent town is a slice of American suburbia at its finest with fabulous single family homes, condos, multi-family, a rental market as well as prestigious estates for sale.  Only 35 miles from New York City, Basking Ridge, NJ is an oasis of old time America tradition mixed with fine arts, renowned restaurants and entertainment, prestigious schools, abundant pastime activities, and competitive and recreational sports.  Basking Ridge, NJ is adjacent to two major NJ highways, I-78 and I-287, allowing the ca... 01/21/2011

I was hanging out on Trulia Voices again this morning and came across a question posted by Nancy in Little Rock.  Nancy wanted to know "What is the first thing sellers should do prior to listing their home for sale"  Nancy recieved 27 answers to her question - - but I thought the BEST answer came from a homeowner in New Orleans, NOT a realtor.  I am repeating her answer here word for word as I think it dovetails perfectly with the article I posted on Patch yesterday. Louise replies:  "I'm a seller, and I already knew a terrific agent that I had worked with before. I got rid of half my furniture, boxed up all the clutter (having watched HGTV), and then went to see him because I *thought* I was ready. I wasn't..  He came over to see the house, so that he could get realistic comps for me. ... 01/18/2011

The following properties closed during the week of 1/9/2011: 217 Irving Place - Society Hill Condo - listed for $244,900, sold for $230,000 441 King George Road - New Construction - listed for $639,000, sold for $620,000 15 Tamarisk Court - off of Lake Road - listed for $1,089,000, sold for $999,999. If you are considering a move into or out of Basking Ridge, this is certainly a good time to be in the market - whether you are buying, selling or both!  Contact me directly for more information on what is currently for sale in Basking Ridge.  I can also help in other areas - Bernardsville, Bridgewater, Bedminster and beyond! 01/17/2011

NJ Estates Real Estate Group Newsletters and BlogsNew Jersey Estates has many newsletters and blogs that are filled with useful current information on the Real Estate market. Click on the links below. Please note: All links open up in a separate window   Daily Advice Column Real Estate and Mortgage Real Estate Update Housing Trends Active Rain Blog - NJ Estates Localism Posts Active Rain Blog - Genna   COMPLETE INFO UPDATED DAILYCurrent Listings Info Luxury New Homes Custom Build A New Home Land & Building LotsNew Jersey EstatesOur Luxury Pre-Owned HomesReal Estate BlogsGarden State MLSOpen Houses & DirectionsOur Testimonial LettersGoing Green/ Complete InfoFollow us on Twitter Follow us on Facebook Somerset County NJ Real Estate Union County NJ Real Estate Morris County NJ Real Estate ... 01/09/2011

Wow - it's January 7th already.  I'm sorry I've been gone so long.  The break was nice, then getting everyone settled back at school, celebrating a birthday (not mine), managing two home inpsections, negotiating a contract and meeting two new buyers has taken up the whole first week of January!!  Apparently the blog has taken a back seat... Inventory in Basking Ridge has already increased by 10 new listings since 1/1/11 and I expect that we will see more new listings each day between now and the middle of April.  My phone has been ringing and my Basking Ridge listing notification request web page has been busy - buyers are certainly out there!  With experts like Jeffrey Otteau predicting that values will fall another 6% and interest rates proposed to rise it will be interesting to see h... 01/07/2011

  NJ Estates Real Estate Group/ Weichert Realtors / Linking The Latest Technology to Old Fashion Service http://goo.gl/Wg1B Happy & Safe Holidays From All Of Us @ NJ Estates Real Estate Group to All Of You http://goo.gl/l1oEM The X Factor--Why Making An Offer On A Home Should Be Based On Value To You http://goo.gl/A5pwz Real Estate Glossary http://goo.gl/W2tkZ Daily Updates http://goo.gl/Wg1B What an opportunity! A buyer can complete the finishing touches on an exquisite home http://fb.me/PnTp6s1A Existing-Home Sales Rise http://goo.gl/doyo0 Daily Updates http://goo.gl/Wg1B Deciding to Sell http://goo.gl/NpbJh Daily Updates http://goo.gl/Wg1B #NJ Estates Real Estate Group > Luxury New & Pre-Owned Homes in Central & North New Jersey > http://goo.gl/Wg1B Land To Custom Build > We speciali... 12/26/2010

Stay Focused When Negotiating a Price on Your New Basking Ridge Home Keep your emotions in check and your eyes on the goal and you'll pay less when purchasing a home. Buying a home can be emotional, but negotiating the price shouldn't be. The key to saving money when purchasing a home is sticking to a plan during the turbulence of high-stakes negotiations. A real estate agent who represents you can guide you and offer you advice, but you are the one who must make the final decision during each round of offers and counteroffers. Every potential transaction is different and there is no sure fire strategy to ensure you get the price you want. However, here are six tips that will go a long way in helping you negotiate the best price on a home: Get prequalified for a mortgage Getting prequal... 12/18/2010

In a growing atmosphere of the do-it-yourself mentality, some wonder should I take on the homebuying process on my own. It's certainly been done, but, more often than not, homebuyers turn to the experts when it comes time to making, what will often be, their most expensive purchase. Paul F. Stillwaggon NJ Estates Real Estate Group December 2010 A HAPPY & SAFE HOLIDAY SEASONFROM NJ ESTATES REAL ESTATE GROUP Copyright © 2010 Realty TimesAll Rights Reserved. Here are just a few reasons why it's a good idea to use an expert real estate agent to help you navigate the homebuying process. 1. Knowledge is power. Real estate agents work in the field every day. They're immersed in markets that buyers, likely, have less opportunity and time to study. Working with the right expert can not only spee... 12/10/2010

The benefits of Business Networking in Basking Ridge, NJ by Charles Hendershot, President of BNI Referral Pros of Basking Ridge, NJ. Business networking is one of the most effective ways to generate a steady stream of referrals.  Imagine yourself presenting your business to other business owners and sales people just like yourself on a weekly basis.  Wouldn't you agree that the more people you meet, the more people you will present your business to which results in more transactions closed?  I did some research on the internet and located several different business networking groups and business card exchange groups.  My favorite by far was BNI due to the structure and education provided by their organization.  I visited several chapters and the real estate category was already taken; e... 11/26/2010

The folowing was written by Butch Elich & Paula Parker who were discussing what the "billionaire, John Paulson" said in September. “If you don't own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.” – John Paulson Sept. 27, 2010. Who, you ask is John Paulson? For those who don't know, Paulson is number 45 on the Forbes list of the world's wealthiest billionaires and is worth approximately $12 billion as of 2010. betting against subprime mortgages, long before the term became well known. John Paulson isvery bullish on residential real estate right now. Does it matter? Do we care? The answer to both questions is “Yes,” and here's why. According to the Wall Street Journal, Paulson is, “a hedge fund ty... 11/08/2010

More qualified homeowners struggling with unemployment or under-employment in additional states have been targeted by two expanded foreclosure-prevention efforts from the Obama administration. Paul F. Stillwaggon NJ Estates Real Estate Group October 2010 LINKING THE LATEST TECHNOLOGYTO OLD FASHIONED SERVICE Copyright © 2010 Realty TimesAll Rights Reserved. First, from the U.S. Department of the Treasury's Housing Finance Agency (HFA) Innovation Fund for the Hardest Hit Housing Markets (the Hardest Hit Fund), comes $2 billion in additional assistance available for HFA programs for homeowners struggling to make their mortgage payments due to unemployment. Earlier this year the Hardest Hit Fund launched with $1.5 billion going to only five states Arizona, California, Florida, Michigan and ... 10/21/2010

Please allow me to toot my own horn, just for a minute...two of my clients sent me testimonials for my website – here’s what they had to say: From Kathy and Mike Mitchell of 20 Old Coach Road in Basking Ridge:  ”Jennifer sold our house in Basking Ridge in 2010.  She was energetic, confident and at all times cooperative and hard working.  She provided very realistic advice on pricing backed up by market data and her own market analysis of the strengths and weaknesses of our particular property.   Jennifer gave us valuable guidance during the negotiation period, suggesting different approaches and advising on what was and what was not realistic.  Living abroad at the time, we trusted her to take care of far more than in a normal buyer-realtor relationship, and our complete confidence in ... 10/11/2010

Did you know that Society Hill in Basking Ridge has two associations?  Bernards I and Bernards II. Woodward Lane, Baldwin Court and English Place make up Bernards I. I have a listing in Bernards II (www.210IrvingPlace.com) which encompasses Irving Place and Penns Way. Bernards II is NOT approved for FHA loans while Bernards I does qualify.  In order a buyer to qualify for an FHA loan, the condo community must be approved. If you live in Bernards II and are thinking of selling anytime soon - call your association and encourage them to look into obtaining approval for FHA buyers.  At this price point many of the potential buyers are hoping to use this financing option.  In the past, FHA loans had somewhat of a negative connotation.  I do not believe that this is true any longer - especial... 10/09/2010

This weekend's mortgage rates are fantastic! Fannie Mae30 Year Fixed Loan Sizes up to $417,000    3.99% 0 points30 Year Fixed Loan Sizes from $417,000 to $729,000 4.25% 0 points FHA30 Year Fixed Loan Sizes up to $417,000   4.25% 0 points ======================================================================== These rates are unprecedented and may not be available for long.  Information courtesy of: Brian J Wagenseller, Weichert Financial Services, Gold Services Manager Watchung/Basking Ridge Offices Office  908-561-8160 Cell  908-310-5122 Fax 973-630-4046 NMLS# 236014 10/09/2010

The unemployed are getting loans and they might not have to pay all the money back. HUD is offering bridge loans to people who are out of work and have fallen behind on their mortgage payments. Earlier this week, The U.S. Department of Housing and Urban Development (HUD) announced a new loan program available in 32 states and Puerto Rico. "It's a $1 billion initiative," says Lee Jones with HUD. Paul F. Stillwaggon NJ Estates Real Estate Group October 2010 LINKING THE LATEST TECHNOLOGYTO OLD FASHIONED SERVICE Copyright © 2010 Realty TimesAll Rights Reserved. The detailed release from HUD states, "The program will offer a declining balance, deferred payment "bridge loan" (non-recourse, subordinate loan with zero interest) for up to $50,000 to assist eligible homeowners with payments of ar... 10/08/2010

Ertie asked a question on Trulia, he indicated that he felt that Basking Ridge had taken another 10-20% dive in the past year. He requested that Realtors need not reply to the question. I couldn’t resist – I answered the question…as did a handful of other Realtors. I told Ertie that I didn’t think we were down that much, I showed him some research I had done for a potential client: A client who had purhcased his home in 2005 for a lot of money and wanted to put it on the market now and not lose anything. I found six houses (between $900,000 and $1,500,000) that sold in 2005 and again in 2009 or 2010. I did the math – based on the closed sale prices – and I found that the average decrease in sale price was 10%. Ertie came back to Trulia to read our answers and still disputed our position... 10/04/2010

  Here is the recent real estate activity for Society Hill, Basking Ridge, NJ as of September 18,2010. Currently there are 19 properties for sale in the development.  Only 2 properties have gone under contract in the last 30 days, at that rate it will take approximately 9.5 months to sell off the current inventory.  A seller's market is when there is less than a 5-6 month supply of homes on the market, and over 7 months of supply makes it a buyer's market.  So an almost 10 month supply means that it is a buyer's market in Society Hill so sellers must price competitively!  Below is the breakdown of what is currently Available: No. Properties              Style                                           Price range       9                          2 Bedroom 2 Bath Condo               $249,... 09/18/2010

I simply cannot believe that it is the LAST Friday in July already!  The summer is half over - wow.  But, let's not pine over the lost days of summer just yet!  While this may not be the busiest time for most Realtors because many people are away and looking for their dream home isn't really a priority, all of those spring sales typically close during the summer months.  July 2010 was no different.  Thirty-five families moved into their "new-to-them" homes this past month.  Follows is a list of those transactions including address, List Price and final Sale Price: 236 Potomac Drive, Spring Ridge  $199,000/$196,500331 Penns Way, Society Hill  $259,000/$255,000239 English Place, Society Hill  $259,900/$259,900197 Alexandria Way, Spring Ridge  $267,000/$257,000108 Village Drive, Lord Stirl... 07/30/2010

The U.S. Congress asked Federal Reserve Board chairman Ben Bernanke a key question last week: Where do you and your colleagues believe we're headed in terms of the national economy? Bernanke's reply: There are bumps and potholes on the road to recovery, but the Fed "expects continued moderate (economic) growth, a gradual decline in the unemployment rate (to about 7 percent) and subdued inflation" over the next couple of years. Paul F. Stillwaggon NJ Estates Real Estate Group July 2010 LINKING THE LATEST TECHNOLOGYTO OLD FASHIONED SERVICE Copyright © 2010 Realty TimesAll Rights Reserved No sooner had Bernanke delivered his testimony than some of those "bumps" in the road popped up: The Commerce Department reported new housing starts dropped by 5 percent in the latest month, and the Natio... 07/26/2010