With Home Prices in Morris County down from their highs, and Mortgage Rates Evenly Matched, Now’s the Perfect Time to Make Your Move and Buy your new home.
If you’ve been waiting to buy a home, it’s time to get into the game. You can take advantage of 30-year fixed rate mortgages that are still very low by historical standards.
Instead if you wait till the economy recovers then home prices might start rising again but more importantly Mortgage Rates will rise as the economy recovers. This might increase the cost of owning a home over the long run.
Plus, right now you have a greater choice of homes and more ability to make your dream home affordable. With inventory building, mortgage rates still historically low, and sellers anxious to move, now is a great time to buy.
Remember risks always seem higher when all the headlines are negative, but that is when Savvy Buyers should be thinking of Real Estate as a long term investment and make their move.
Remember, any offer is a good offer - and yours could lead to a new home!
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com, http://www.RoseArborLiving.com & http://www.libertygreens.com/.
Technorati Profile
What's happening in the Morris, Essex, Somerset and Union County New Jersey Real Estate Markets. North NJ Real Estate Specialists. Real Estate Sales and News in Morristown, Morris Twp, Denville, Parsippany, Montville, Hanover, East Hanover, Randolph, Mountain Lakes, Whippany, Madison, Chatham, Basking Ridge, Short Hills, Summit, New Providence, Livingston, Roseland and more.
Friday, March 28, 2008
Tuesday, March 25, 2008
Morris County Real Estate Trends - Smaller Homes Now More Popular
The average size of a single family home had been rising for 30 years. The average size has risen from 1560 Square Feet in 1974 to 2248 Square Feet in 2007 according the US Census Bureau.
But starting in the second quarter of last year the average size of new homes started falling and many experts predict more declines going forward.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com, http://www.RoseArborLiving.com & http://www.libertygreens.com/.
But starting in the second quarter of last year the average size of new homes started falling and many experts predict more declines going forward.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com, http://www.RoseArborLiving.com & http://www.libertygreens.com/.
Tuesday, March 11, 2008
Morristown New Construction Townhomes and Condos
The Revival of Morristown: New Construction Townhouses and Condos
The Revival of Downtown Morristown is well along, with many new major residential projects. All this continues to make Morristown one of New Jerseys most desirable places to live. I have listed a few below:
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Saturday, March 8, 2008
What to do First – Buy a new home or Sell your current home
If you already own a home, it's an important question and the answer is: it depends.
Generally speaking, under most market conditions, I would advise listing your present home and shopping for your new home simultaneously.
To consider your own individual needs and circumstances, though, I would want to find out how fast you need to sell and then how long it would to take to sell in today's market conditions.
In a great real estate market, for example, you can assume your home would be more likely to sell quickly. In that case, if you have very specific criteria – like location, type, size, etc. which could lead to a time-consuming home search – you should consider finding and buying a home first before you sell your existing home.
If necessary, we can make an offer to buy your new home contingent on selling yours.
On the other hand, if you sell first, we can always make your sale dependent on finding a home to buy.
Time of the year can play a role in deciding when to sell – with spring and fall the most popular seasons to put a home on the market.
We should also consider the effect of factors like interest rates and consumer confidence in the economy. Low interest rates will get you buyers year round.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com & http://www.libertygreens.com/.
Generally speaking, under most market conditions, I would advise listing your present home and shopping for your new home simultaneously.
To consider your own individual needs and circumstances, though, I would want to find out how fast you need to sell and then how long it would to take to sell in today's market conditions.
In a great real estate market, for example, you can assume your home would be more likely to sell quickly. In that case, if you have very specific criteria – like location, type, size, etc. which could lead to a time-consuming home search – you should consider finding and buying a home first before you sell your existing home.
If necessary, we can make an offer to buy your new home contingent on selling yours.
On the other hand, if you sell first, we can always make your sale dependent on finding a home to buy.
Time of the year can play a role in deciding when to sell – with spring and fall the most popular seasons to put a home on the market.
We should also consider the effect of factors like interest rates and consumer confidence in the economy. Low interest rates will get you buyers year round.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com & http://www.libertygreens.com/.
Real Estate Glossary
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Sunday, March 2, 2008
Morris County Real Estate Recent Townhouse/Condo Sales- February 2008 Condo and Townhome Sales Report
Morristown, Madison, Chatham, Denville, Randolph, Parsippany, Rockaway, Hanover, East Hanover, Montville, Morris Plains, Morris Township, Roxbury New Jersey Real Estate - February 2008 Condos and Townhouse Sales Report.
Data Source: GSMLS, 2/1/08-2/29/08
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com & http://www.libertygreens.com/.
Town
|
Address
|
Style
|
Beds
|
Baths
|
Garages
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Sold Price
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Boonton Town* | 410 CORNELIA ST, UNIT 5 | One Floor Unit, Victorian | 1 | 1 | 0 | $230,000 |
Chatham Twp. | 18 E Manchester Court | One Floor Unit | 1 | 1 | 1 | $287,500 |
Chatham Twp.* | 20A HERITAGE DR* | First Floor Unit, One Floor Unit, Tudor | 1 | 1 | 1 | $319,000 |
Chatham Twp. | 221 Terrace Drive | Townhouse-End Unit | 2 | 2 | 1 | $430,000 |
Chatham Twp. | 28 Sterling Drive | Townhouse-Interior | 3 | 4.1 | 2 | $1,294,604 |
Denville Twp. | 803 Buckland Court | Multi Floor Unit, Townhouse-Interior | 2 | 1.1 | 1 | $316,000 |
Denville Twp. | 704 Buckland Court | Townhouse-Interior | 2 | 2.1 | 1 | $355,000 |
Denville Twp. | 78 Henning Terrace | Townhouse-Interior | 3 | 3.1 | 2 | $625,000 |
Denville Twp. | 2 Jade Circle | Townhouse-End Unit | 3 | 2.1 | 2 | $718,195 |
Dover Town | 65B FOX HILL DRIVE | One Floor Unit | 1 | 1 | 0 | $110,725 |
Florham Park Boro | 38 PARK ST #7C | Townhouse-Interior | 3 | 2.1 | 2 | $405,000 |
Hanover Twp. | 401 Viera Drive | Townhouse-End Unit | 3 | 2.1 | 2 | $706,802 |
Jefferson Twp.* | 14 STONE HOUSE CT* | Townhouse-Interior | 2 | 2 | 1 | $243,500 |
Jefferson Twp.* | 14 RIDGE VIEW TER* | Townhouse-Interior | 2 | 2 | 1 | $257,000 |
Jefferson Twp. | 48 Red Oak Terrace | Townhouse-Interior | 2 | 2.1 | 1 | $255,000 |
Jefferson Twp. | 3 Stone Row Lane | Townhouse-Interior | 2 | 2.1 | 1 | $361,500 |
Lincoln Park Boro | 85 Stonyridge Drive | One Floor Unit, See Remarks | 3 | 1.1 | 0 | $307,000 |
Long Hill Twp.* | 357 VALLEY ROAD | Multi Floor Unit, Townhouse-Interior | 3 | 2.1 | 0 | $390,000 |
Madison Boro | 116 Hempstead Court | Townhouse-End Unit | 3 | 2.2 | 1 | $550,000 |
Montville Twp.* | 33 WATERFORD DR* | Townhouse-Interior | 3 | 2.1 | 1 | $545,000 |
Montville Twp. | 47 Cobblestone Terrace | Townhouse-End Unit | 3 | 2.1 | 2 | $635,000 |
Morris Twp. | 100 Village Drive | First Floor Unit, One Floor Unit | 2 | 2 | 0 | $350,000 |
Morris Twp. | 23 wildflower | Townhouse-End Unit | 2 | 2.1 | 1 | $400,000 |
Morris Twp. | 2 CAROLINE FOSTER COURT | Townhouse-End Unit | 2 | 2.1 | 1 | $415,000 |
Morristown Town | 320 South Street 8C | Townhouse-Interior | 2 | 1.1 | 0 | $317,500 |
Morristown Town | 7 Prospect Street | One Floor Unit | 1 | 1 | 0 | $340,000 |
Morristown Town | 7 Prospect Street | One Floor Unit | 1 | 1 | 0 | $375,000 |
Morristown Town | 46 Taft Lane | Townhouse-End Unit | 2 | 2.1 | 1 | $450,000 |
Morristown Town* | 64 TAFT LN* | Townhouse-End Unit | 2 | 2.1 | 1 | $439,725 |
Morristown Town | 13 Franklin Place #8E | Multi Floor Unit, Townhouse-Interior | 3 | 2.1 | 1 | $525,000 |
Mount Arlington Boro* | 2 BIRCH TERRACE | Multi Floor Unit, Townhouse-End Unit | 2 | 2.2 | 1 | $340,000 |
Mount Olive Twp.* | 215 Winding Hill Drive | Colonial | 4 | 2.1 | 2 | $410,000 |
Parsippany-Troy Hills Twp. | 199 B-5 North Beverwyck Road | One Floor Unit | 1 | 1 | 0 | $180,000 |
Parsippany-Troy Hills Twp. | 2467 Route 10 East 8-3B | One Floor Unit | 1 | 1 | 0 | $185,000 |
Parsippany-Troy Hills Twp. | 2350-A32 Route 10W | Townhouse-End Unit | 2 | 1 | 0 | $250,000 |
Parsippany-Troy Hills Twp.* | 156 PATRIOTS RD* | Townhouse-Interior | 2 | 1.1 | 1 | $390,000 |
Parsippany-Troy Hills Twp.* | 77 SPRINGHILL DR* | Townhouse-Interior | 3 | 2.1 | 1 | $419,000 |
Parsippany-Troy Hills Twp. | 28 PINFOLD COURT | Townhouse-Interior | 3 | 2.1 | 1 | $457,000 |
Parsippany-Troy Hills Twp. | 156 Gladstone Dr. | Townhouse-End Unit | 3 | 2.1 | 1 | $520,000 |
Pequannock Twp. | 105 Newark Pompton Tpk | First Floor Unit, One Floor Unit | 1 | 1 | 1 | $220,000 |
Pequannock Twp.* | 1901 WENDOVER DR* | Townhouse-End Unit | 3 | 2.1 | 1 | $387,000 |
Rockaway Twp. | 322 S3 RICHARD MINE RD S3 | Townhouse-End Unit | 1 | 1 | 0 | $190,000 |
Rockaway Twp.* | 19 BROTHERTON AVE* | Townhouse-Interior | 2 | 2.1 | 2 | $328,500 |
Data Source: GSMLS, 2/1/08-2/29/08
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com & http://www.libertygreens.com/.
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