Just Listed! 15 Plane St, Piscataway, $450,000

Just listed and showing requests are pouring in – please do not dilly dally if interested!  Call/text Jeanne at 908-337-0943 for a personal tour.

15 Plane Street  is located at the end of a cul-de-sac in the desired River Road seciton of Piscataway, close to Rutgers University.  It is great space, with four bedrooms including one on the first floor – en suite, plus a den, a total of 2.5 baths, contemporary flow with high ceilings, filled with natural light, most windows replaced, large deck and updated Kitchen and master bath.

15_Plane_Street

Whether selling or buyering, remember this… “the agent you choose really does make a difference!”

The market is crazy HOT!

This year is shaping up to be one for the record books, that is for sure.  No matter how you cut it, 2020 has broken the mold.  In a normal cyclical real estate year, the Spring Market runs roughly from the Super Bowl (remember that?) through the end of the school year (remember that?).  But with COVID at its height, the 2020 Spring Market was shuttered along with everything else, only to burst its seams starting in June and it hasn’t shown signs of slowing down yet.  Particularly in the low to mid price points, properties are selling in a matter of a few days and often with multiple offers. Even the high price points are moving well. This is great news for sellers, but a huge challenge to buyers.  The combination of low inventory and pent up demand has created a fire storm of activity.

Market absorption is a tool that measures the health of a market – with a 5-6 month average sale time considered a normal or balanced market, anything less a seller’s market, anything more a buyer’s market, all by degree.  To explain the calcuation and demonstrate the market dynamic, let’s take a look at a few popular communities.

First, to calculate market absorption or time to sell, you divide the total number of properties actively listed by the number that have gone under contract in the last 30 days.  The later gives you a good read on the current rate of sale.  The end result is expressed in months to sell, and essentially means that if nothing else were to be listed, at the current rate of sale it would take the resulting number of months to absorb all active inventory.  If that has your head spinning, don’t fuss, we can talk about it together when next we meet/chat.

Let’s look at Bridgewater and Hillsborough – two popoular communities known for high quality schools, access to transporation/highways and inventory across the pricing spectrum, from condos to single family homes.

  • Bridgewater:  There are a total of 115 properties actively listed for sale, 54 priced under $500,000 and 61 priced $500,000 and over.  In the last 30 days, 87 properties have gone under contract, 49 of them under $500,000 and 38 of them $500,000 or over.  Time to sell over all for Bridgewater is 1.32 months, 1.10 for properties under $500,000 and 1.6 months for properties $500,000 and over.
  • Hillsborough:  There are a total of 69 actively listed properties, 38 priced under $500,000 and 31 priced $500,000 and over.  In the last 30 days, 64 properties have gone under contract, 39 of them under $500,000 and 25 at or over $500,000. Time to sell overall is 1.07 months, and .97 under $500,000 and 1.24 at or over $500,000.

These statistics agree with my experience over the last few months. Properites in these communities are flying off the market, very often with multiple offers which is pushing pricing easily to and more often over asking.

If you are thinking of selling your home, now is the time!  If you are a buyer, hang in there and align yourself with the best representation you can, hopefully that is me.  To buyers that are under contract, hats off to you, for being the victor in a very competitive market.

Social distancing gets real – ideas to break the tedium

As we all practice social distancing, we find ourselves spending our time at home with our families.  Whether its finding things for your kids to do while you work or fun distractions for you to do together. these activities may help to break the tedium.  In hopes of bringing a smile to one or two faces, here are some ideas:

  • VIDEO CALLS:  It so important to stay connected during this tough time.  Schedule video calls with friends and family.
  • CHALK YOUR WALK:  This one is really catching on around town and I love, love, LOVE it!  All you need is chalk, some pavement and your imagination. Chalk the WalkWhat a fun and wonderful way to get some fresh air and connect with neighbors in a safe way.  Guaranteed to lift the spirits of all participants and passers-by!  For inspiration, take a look at my neighbor’s amazing creation and message.
  • BOARD GAMES:  Take out a classic board game for a family game night. Monopoly, Candy Land, and Chutes and Ladders are all fun. And if you run out of board games, there’s always cards.  here’s likely a deck or two gathering dust in a drawer somewhere!
  • MAKE A MOVIE:  Lights, Camera, Action.  We all have cameras and the ability to edit videos on our phones.  Put your creative hat on and  make your own movies with your family playing staring roles.
  • BUILD FORTS:  Use cardboard or blankets to build forts throughout your home.  Use your forts to have a family camp-out inside.
  • SCAVENGER HUNT:  Use pictures of family or characters to create a fun scavenger hunt.

TOGETHER WE CAN DO THIS!!

STAY WELL, STAY SAFE, STAY HOME!!!

Front view, garage is one at end.

Just Listed in Basking Ridge’s popular Spring Ridge development

249 Potomac Drive, Basking Ridge, NJ 07920 nicely situated in the Spring Ridge community facing open space has just been listed for sale.  Smartly priced at $250,000, this 1st floor unit features 2 bedrooms, one full bath, living/dining combo and a spacious kitchen.  Other perks include the garage and basement storage room along with all the wonderful amenities Spring Ridge offers.  Close to highways, transportation, dining and shopping.

Enjoy the tour and call/text me 908-337-0943 to learn more/make appointment to see.

Hot Deal Alert in Bridgewater, NJ – 64 Bond Street

High alert to Bridgewater, NJ buyers and investors. 64 Bond Street, located in the popular Bridgewater Oaks community in Bridgewater, NJ 08807 is priced below market and the seller is willing to negotiate further assuming an October close.  This is a 3 bedroom, 3 full, one half bath townhome, on the better side of the community away from the highway.  Great space and a super opportunity for those willing to do some work. If interested in learning more, please contact me promptly. An October closing is possible, but to accomlish you need to get a move on it.