Morristown, NJ

Morristown NJ Real Estate Activity September 1-23, 2008

A mid-month update on Morristown NJ Real Estate home sales. The home sale data reflects the MLS#, home address, list price, sale price and days on the market. Check out the information for Morristown New Jersey

If you'd like assistance in finding your Morristown NJ Real Estate, call Susan Zanzonico on 973-214-5872. I also specialize in Madison NJ Real Estate and Short Hills NJ Real Estate. These towns are all along the Midtown Direct train line offering easy access in Manhattan.

These are dark days for the Real Estate markets around the country, and for mortgage companies, and for the economy in general. Every place I turn, people are talking about it, every news channel I put the TV on, they are talking about it.

I have to say, I love it, I just love it!!

Am I some person who thrives on the misery of others you might be asking yourselves?

No not really, I believe that things always look the worst, like everything could just come to an end right before they start getting better. In watching the news again today while they talked about Wamo needing to be bought out or it will fail, I thought to myself, I should check my bank accounts and see if I can send my 2008 IRA contribution in early, put it all to work, possibly buy shares in the S&P 500, or if I want to take a little more risk, buy Wells Fargo, or Bank of America, or General Motors, or Ford, what the heck all of these companies have weathered ultimate storm after ultimate storm (I think I should have said perfect storm but you know what I mean).

I wrote a blog post about my experence in the Morristown nj real estate market and what all was going on during black Monday September 15th 2008, the day Lehman fell, Merrill had no choice but to sell out at fire sale prices, and near the end of the day the AIG dragon started to rear it's ugly head, and Wamo waited on the sidelines to implode. After all, who could be thinking of buying Morristown nj real estate on a day when it looked like the world was coming to an end financially.

If you visit my blog post about Black Monday, please leave a relevant comment. The blog will even let you have a relevant link back to your website that Google & Yahoo will give you credit for, unlike commenting on active rain blog posts which give you no credit with the search engines.

Thank you,

Jim

James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct

Morristown NJ Real Estate transferred 24 homes in August of 2008. I have summarized this information with addresses, MLS #'s, listing price, sale price and days on the market. These statistics are complete and up-to-date pulled from the Morristown MLS.

Take a look at Morristown NJ Real Estate August 2008 sales. For additional informaton about Morristown homes or other towns along the Midtown Direct train line, call Susan Zanzonico on 973-214-5872 - Morristown NJ Realtor

Search the Morristown MLS for all active listings.

There is a very costly mistake that Morristown New Jersey home sellers are continually making. I have blogged about this before, the statistics support what I have been saying all along. Yet over and over again I see this same mistake repeated. It gets to the point where I just shake my head in wonderment what some of these Morristown NJ Home sellers are smoking.

Just when I think the news media has publicised the downturn in the real estate market way more then enough, yet another home comes on the market listed 10% or more too high. Over and over again I am proved right, all it takes is a little time and the price reduction comes.

Another interesting fact seems to play out every month when I do the monthly Morristown NJ Real Estate market update. Every month 40% to 60% of the homes that have sold, actually sold in less then 30 days. How many price reductions if any have these homes gone through? Very rarely have these homes gone though any price reductions actually. They were priced right to start with, and they sold fast and usually fairly close to their asking price.

Pricing your home to high to start with is very costly, it costs you time, and effort to keep your home in showing condition, and on top of that the statistics have long shown that the highest price any home seller is going to get for their home is in the first 2 to 4 weeks it is on the market. It is all down hill for there.

James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct