Archive for the ‘Bedminster Real Estate’ Category

“Today, Freddie Mac announced that the average rate on a 30-year fixed mortgage fell below 4 percent this week for the first time ever, to 3.94 percent.”

This all-time low rate represents an extraordinary opportunity for consumers, whether they are in the market to buy a home or not.

Homebuyers can purchase a home for less, sellers could see increased activity, and homeowners can refinance to lower their mortgage costs and free up money for other purposes.

Click here to Contact us or call me at 908-432-0318 to find out how to take advantage of these low rates to either buy or refinance!

Tim McLaughlin, VP Weichert Financial

http://twitter.com/TimMc86

•  The S&P/CaseShiller Home Price Indices showed a fourth consecutive month of increases for the 10 and 20 city composites, with both up 0.9% in July over June. ”With July’s data, we are seeing not only anticipated monthly increases, but some fairly broad improvement in the annual rates of change in home prices,” says David M. Blitzer, chairman of the index committee at S&P Indices. “Monthly price increases -were seen in 17 of the 20 cities. The exceptions were Las Vegas and Phoenix, where prices fell, while Denver was flat. The better news is that 14 of 20 cities and both composites saw their annual rates of change improve in July. 
• Fixed mortgage rates sank to record lows over the past week following the Federal Reserve’s decision to buy longer term Treasuries and reinvest proceeds from MBS investment payoffs back into those securities, according to Freddie Mac’s weekly survey. The 30 year Fixed rate mortgage averaged 4.01% with .86 points for the week ended Thursday, down from 4.09% with .79 points the previous week and 4.32% with .62 points last year. Rates on 15 year Fixed rate mortgages averaged 3.28% with .77 points, down from 3.29% with .71 points last week and 3.75% with .72 points a year earlier. Freddie Mac Chief Economist Frank Nothaft said interest rates for Adjustable rate mortgages, however, were nearly unchanged due to the Fed’s plans to sell $400 billion in short term Treasury securities and buy longer term notes and bonds. Shorter term securities serve as benchmarks for many Adjustable rate mortgages. 
• On another note…The top 4 reasons borrowers refinanced in 1H11, according to a JD Powers Survey:

1. Reduce monthly mortgage payment
2. Reduce term of the mortgage
3. Consolidate debt
4. Cash out refinance for various purposes

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!

There is no doubt that this is a great time to buy a house.  Purchasing a home has remained affordable, primarily because of the extended period of historically low interest rates that has continued for more than two years.  A wide variety of properties from which to choose and affordable prices sweetens the opportunity for homebuyers.

The general public agrees, and so does the secretary of the U.S. Department of Housing and Urban Development.

Consider these recent reports:

• According to a recent Gallup poll, 69 percent of Americans believe that now is a good time to buy a house.

• Responding to a recent New York Times/CBS News poll, 9 in 10 Americans said homeownership is an important part of the American Dream.

• The National Association of Realtors‘ ninth housing pulse survey showed that the overwhelming majority of Americans (72 percent) say that buying a home is a good financial decision.  Almost two-thirds (64 percent) say that now is a good time to buy a home.

• During a recent interview broadcast on CNN, Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development, urged Americans to purchase homes.  He said, “In the long run, it is a good time to become a homeowner because it’s so affordable today compared to where it’s been for generations.”

For more information on Buying and Selling Homes in Bedminster, go to www.Bedminster-Real-Estate.com.

Whether you’re thinking of buying a home with an in-ground pool
or toying with the idea of having one built, there are many
important considerations to take into account.  In additon to significant installation costs for those building
a new pool, all homeowners with a pool will need to be mindful of ongoing maintenance expenses as well
as insurance and tax implications.

If a swimming pool is in your future, here are some things to keep in mind:

•    Installation costs for a 600-square-foot concrete pool average around
$30,000. Less expensive options include fiberglass shells and pools with
liners; however, pool liners need to be replaced approximately every 10
years, raising ongoing maintenance costs.

•    Other equipment you will need to maintain your pool include an energy-
efficient pump, chemical balancing supplies, cleaning, and fees for
opening and closing the pool for the season. A rule of thumb is
homeowners should budget around $600 annually for maintenance in a
seasonal swimming climate and between $15 and $25 per week in a
year-round climate.

•    Homeowners with a pool should increase the liability portion of their
homeowners insurance policy from the standard amount. In addition,
many underwriters require you to fence in the pool so that children can’t
wander in unsupervised.

•    There is no guarantee that adding a pool will add to your home’s selling
price. Experts advise keeping building costs between 10 percent and 15
percent of what you paid for the house to help assure you don’t invest too
much money that you won’t necessarily recoup on resale.

For more information on Buying and Selling in Bedminster,

Click on the following link:  Bedminster Real Estate

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.

Eleven new happy home-owners in Bedminster!

• 17 Wescott Rd – Wynnewood  The Hills – listed for $206,900, sold for $200,000 in 30 days
• 80 Ashley Ct – Crestmont The Hills – listed for $285,000, sold for $265,000 in 24 days
• 41 Ashley Ct – Crestmont The Hills – listed for $290,000, sold for $286,000 in 19 days
• 363 Wren Ln – The Hills – listed for $329,900, sold for $329,000 in 5 days
• 28 Cambridge Rd – Stone Run II The Hills – listed for $359,900, sold for $354,000 in 54 days
• 14 Heatherwood Ln – Four Oaks The Hills – listed for $369,000, sold for $363,000 in 33 days
• 28 Stone Run Rd – Stone Run I The Hills – listed for $399,000, sold for $385,000 in 97 days
• 92 S Edgewood Rd – Edgewood The Hills – listed for $449,900, sold for $432,000 in 50 days
• 12 Cobble Ln – Gatehouse – SHORT SALE – listed for $839,900, sold for $755,000 in 190 days
• 1 Elizabeth Ln – SHORT SALE – listed for $855,000, sold for $795,000
• 33 Gatehouse Rd – Gatehouse – listed for $950,000, sold for $950,000 in 48 days

With the exception of the short  sales, most of these properties sold quickly within 2-4% of their list price.  Right Pricing is what this market is all about!  For more sales data, visit Bedminster Real Estate.

If you would like a free market analysis for your Beminster home, I am happy to provide it.  We can get together for a few minutes to walk through the house and then I will send you a report.  Whether you are ready now, next month or three years from now, I’m happy to meet you and become your real estate resource!

Closed Sales in March

There are now two new happy homeowners in March in Bedminster.   The following properties have closed this month:

27 BENTLEY CT  $289,999  $278,000
77 AUTUMN RIDGE RD $769,900    $745,000

26  new listings came on the market this month, and 9 listings have gone under contract.  To see these new listings or to start your search, click on Bedminster Homes For Sale.

Please note:  2 additional properties sold in February but were not reported online until March.  Those properties are:

147 CORTLAND LN  $99,999  $99,999
15 WENTWORTH RD  $259,999  $252,500

So that brings the total sold homes in Bedminster in February to 5.

Absorption Rate

I explained what the absorption rate is in a previous posting, but basically it is a way to help us determine how much market activity there is at a given time in the market.  A market absorption rate of less than 5 months is considered a Seller’s Market, between 5 – 6 months is a Normal or Balanced Market, and inventory levels greater than 6 months indicates a Buyer’s Market.

There are currently a total of 95 listings on the market in Bedminster.  17 properties went under contract in the last 30 days, so that gives us a current market absorption rate of 5.6 months in Bedminster.  Which indicates that currently the market in Bedminster is a balanced market.

If you are considering a move into or out of Bedminster, it pays to plan ahead.  Start your search or understand the value of your home at Bedminster-Real-Estate.com