Archive for the ‘Bedminster Market Activity’ Category

JUST SOLD JUST SOLD JUST SOLD JUST SOLD

$363,500 – three bedrooms, two and half baths, garage.  

New furnace and central air!

Search for your Bedminster Townhouse and call Jennifer for an appointment; let us make it easy for you too!

There has been only one contract sale since the beginning of the year.  There are currently 87 properties available for sale in Bedminster, and Market Absorption is 12 months – this creates a really good opportunity for BUYERS in Bedminster.

Market absorption is defined as the rate at which currently available inventory will be sold based on the number of homes sold in the last thirty days.  It does NOT mean that it will take 12 months for your house to sell if you list it today.  It simply is an indicator of the strength of the market and helps us to define the best marketing strategy for a given property.

I just confirmed – but do not have dates yet – that we will once again be hosting home buyer seminars in our Basking Ridge office. I will post dates as we get them but there is no reason to wait!  If you are interested in learning more about the market – whether you are considering a purchase or a sale – please call me and we will get started at your convenience!

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Insights from Jim Weichert

The beginning of a new year is always a time to reflect and consider goals and opportunities for the year ahead. As we begin 2012, there are many reasons for encouragement when it comes to the economy and real estate. If recent economic and real estate trends are any indication, 2012 will be a year when good things can happen not only for potential homebuyers and sellers, but for the country as a whole. For example:

• Existing-home sales rose again in November, and remain at levels above those of a year ago. What’s more, pending home sales also continued to gain in November, reaching the highest level in 19 months, an indication that there will be more future sales.
• In November, sales of new single-family houses rose 1.6 percent from October and were 9.8 percent above November 2010. Additionally, housing starts surged to a one-and-a-half year high in November, and permits for future construction were the highest since March 2010.
• In a sign that the overall economy is strengthening, U.S. employment has grown solidly for the past six months, generating 100,000 jobs or more in each month for the first time since April 2006.
• The Conference Board’s Index of Leading Economic Indicators showed two months of solid gains, signaling that the economy was gaining momentum and the risks of a recession were receding, and its Consumer Confidence Index improved to levels seen in April 2011.

Bedminster Market Activity

Two recent closed sales:

• 25 Stevens Court in Signal Point listed for $290,000 and sold for $260,000
• 2030 Larger Cross Road listed for $3,875,000 and sold for $2,500,000

Both of these transactions were disclosed dual agency – the listing agent represented both the buyer and the seller.

There have been nine new listings – seven townhouses and two single family homes.  And there has been one contract sale since the beginning of the year.

The Basking Ridge Real Estate team from Weichert (Jennifer Blanchard, Judi Jensen and Gerry Light) are working with qualified buyers who are looking for homes in the following locations:

• Bedminster: Stone Run and Edgewood up to about $500,000
• Bedminster: Autumn Ridge up to about $700,000
• Basking Ridge: any four bedroom single family home in the Hills specifically including the Carlisle and Liberty Ridge sections up to about $750,000

There were two contract sales in Bedminster this week. No closings, and one new listing – a $4.3M dollar property. Bedminster Real Estate has been somewhat slow lately – I bet there are some really good deals to be had there. Take some time today to search Bedminster homes for sale.

It really is a good time to buy a house.  The signs are there: record-low interest rates and reasonably priced homes. This week, the Wall Street Journal presents two factors that make now “an excellent time to buy a house.” First, the ratio of home prices to yearly rents is close to its pre-bubble average. Second, when mortgage rates are considered, houses are the most affordable they have been in decades.

The article goes on to explain that whether or not buying is a better deal than renting depends on the relationship between prices and rents, the cost of financing and other factors. The good news is that the numbers all seem to be heading in the right direction.

According to Moody’s Analytics, the nationwide ratio of home prices to yearly rents is 11.3, down from 18.5 at the peak of the bubble. With all things being equal, a lower ratio means buying is preferable to renting. Even though the price/rent ratio is not as low as it has been, house payments are more affordable than they have been in decades because mortgage interest rates are so low.

And, despite public opinions otherwise, mortgage money is available according to information in the article attributed to Stan Humphries, chief economist at Zillow, a home and real estate consumer website.

The article closes with this advice: “When prices are low, loans are cheap and plump investment yields are scarce, buyers should jump.”

Week of 10/9/2011

There were two contract sales last week – a two bedroom townhouse in the Fieldstone section featuring a one car garage and Brazilian cherry floors and a two bedroom townhouse in the Four Oaks section featuring a two car garage and an updated kitchen.  Both are scheduled to close before the end of the year.  I’m happy also to report that market absorption is under 8 months in Bedminster.

There are less than six weeks left in the fall market – things typically start to slow down after Thanksgiving.  If you are considering a move into Bedminster or the surrouding areas we can help!  Click here for information on what is currently available in Bedminster.

Bedminster Real Estate, Basking Ridge Real Estate

One closing this week in Bedminster: 16 Four Oaks Road in the Four Oaks section of the hills.  A two bedroom end unit with a two car garage – this section of the hills is the newest, built in 1995.  This property was listed for $367,900 and sold for $355,000.

Click here to search for simliar homes for sale in Bedminster.

Welcome Back, September, it’s good to see you again!

As much as I love the slow laziness of the summer months, by the time September rolls along I’m really happy to see it!  Things start happening again: school, sports, routine, and…..REAL ESTATE!

There have been six new listings and ten price adjustments in Bedminster since the first of the month.  And, there have been five contract sales.  Traditionally we see an uptick in market activity between Labor Day and Thanksgiving.  So if you are looking to make a move, it might pay to take advantage of the Fall Market in Bedminster.  I am happy to provide a listing of current properties or an evaluation of the value of your home in the current market.  No obligation, just Information!

Please visit one of today’s featured Open Houses:

There are eighteen open houses in Bedminster today!  Nineteen in Basking Ridge and twenty-three in Bridgewater!

58 Alexandria Way: A beautiful Spring Ridge Fairfax model for $294,900, open from 1:00-5:00.  Gerry will be there himself to show you around.

11 Archgate Road: $699,000 – from 1:00–5:00 – Alma and I will be more than happy to show you this wonderful center hall colonial with an amazing list of upgrades and a terrific location within walking distance of Pleasant Valley Park.

267 English Place: $289,900 – from 1:00 – 5:00 – Carol and I will be more than happy to show you this wonderful two bedroom end unit in Society Hill I.  FHA approved and completely updated!

I will be floating between these properties and a listing in Bridgewater: 15 Frohlin Drive which is just off of Washington Valley Road which will be hosted open by Kate between 1:00 and 4:00 today.  Stop by and visit this large split level home on a nice level lot in one of the best Bridgewater neighborhoods.

Gerry and I look forward to talking with you when you are ready to make a move!

Several reports out last week indicated that the recovery in the real estate market is continuing, and that buyers continue to be motivated by today’s high home affordability and the fact that owning a home is now less expensive than renting in many areas.

In March, sales of existing single-family homes, townhomes, condominiums and co-ops increased 3.7 percent from February, according to the National Association of Realtors (NAR). Given that existing-home sales have risen in six of the past eight months, Lawrence Yun, NAR chief economist, is confident that real estate is clearly on a recovery path. Separately, NAR reported that its Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.1 percent. Because this data reflects contracts but not closings, which normally occur with a lag time of one or two months, it means modest near-term gains in existing-home sales are likely.

In addition, the Commerce Department announced Monday that in March, sales of new single-family homes rose 11 percent, and that the median price of a new home rose nearly 3 percent from February.

Click here for information about buying a home in Bedminster.  For a free home evaluation please click here.