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Team Carroll Cranford NJ,Westfield NJ Scotch Plains NJ Real Estate, CDPE

Scotch Plains and Fanwood NJ Real Estate Market Update

Here are the raw numbers for Scotch Plains and Fanwood NJ for the 2 month period from December 1 through January 31. Later this week, I will be posting the 4th quarter numbers and comparing that quarter to the 3rd quarter and the 4th quarter from a year ago, so you can see where are market is, and maybe even where it is going.

Here is the data for those 2 months:

Closed Sales: 30

Avg. Sales Price: $498,959

Avg. Final List Price: $535,560

List to Sale Price Ratio: 93.1% (this is as low as I've seen this number in a while, indicating a very sharp decline in home prices in the 4th quarter, like I shared in prior blogs)

Avg. Days on Market: 105

Check back for more numbers soon for other towns, and for the quarterly reports and comparisons! Thanks for reading.

www.TeamCarrollNJ.com

Westfield NJ Real Estate and Homes Sold Report

Here are the raw numbers for Westfield NJ for the 2 month period from December 1 through January 31. Later this week, I will be posting the 4th quarter numbers and comparing that quarter to the 3rd quarter and the 4th quarter from a year ago, so you can see where are market is, and maybe even where it is going.

Here is the data for those 2 months:

Closed Sales: 19 (this is very low compared to past months)

Avg. Sales Price: $785,842

Avg. Final List Price: $828,421

List to Sale Price Ratio: 94.8% (this is as low as I've seen this number in a while, indicating a very sharp decline in home prices in the 4th quarter, like I shared in prior blogs)

Avg. Days on Market: 66 (you can still sell fast with proper pricing and marketing)

Check back for more numbers soon for other towns, and for the quarterly reports and comparisons! Thanks for reading.

www.TeamCarrollNJ.com

Cranford NJ Homes Sold Report

Here are the raw numbers for Cranford NJ for the 2 month period from December 1 through January 31. Later this week, I will be posting the 4th quarter numbers and comparing that quarter to the 3rd quarter and the 4th quarter from a year ago, so you can see where are market is, and maybe even where it is going.

Here is the data for those 2 months:

Closed Sales: 18

Avg. Sales Price: $429,205

Avg. Final List Price: $459,227

List to Sale Price Ratio: 93.4% (this is as low as I've seen this number in a while, indicating a very sharp decline in home prices in the 4th quarter, like I shared in prior blogs)

Avg. Days on Market: 74

Check back for more numbers soon for other towns, and for the quarterly reports and comparisons! Thanks for reading.

www.TeamCarrollNJ.com

Pending Home Sales Up Nationally in December.....BUT.....

You need to read the "fine print" and learn how this affects your own market area. The same report that indicated that nationally, the pending home sales in December (which represents contracts signed in December) was up just over 6%. However, in the Northeast, which is my neck of the woods, there was a decline of just over 1%. This is likely tied to the increased unemployment in New York City, which is a huge indicator of how our prices here in NJ will fare.

What does this mean to you??? It means you really need to consult with your local, trusted, real estate professional for market statistics and knowledge, so you can make an offer that is in line with what your market will bear, and if you are selling, you can price your home ahead of the curve, and get it sold, while your neighbors are sitting on the market. Check back soon for more market updates!

Thanks for Reading!

www.TeamCarrollNJ.com

Buying a Short Sale in NJ? Read This First!!

Melanie from Roots Home Inspection helps her clients understand the importance of getting a short sale home inspected, even if it's an "AS-IS" sale. I highly recommend Roots Home Inspection for all your inspection needs, but especially if you are buying a distressed property or short sale. Here is what Roots says about short sales:

Reserve the Right to Conduct an Inspection!

So the bank agreed to accept less than the current mortgage balance. The price
is lower than the neighborhood comps and some houses are offered "As Is".
Do we need a home inspection? YES!

Many houses involved in short sales have been poorly maintained.
A Home Inspection is key to encouraging & protecting the sale.

In this market, we are conducting, on average, 5 short sale inspections a week. WHY? ...
Previous clients, realtors, lawyers & other professionals refer Bill Root because
he gets to the point of what really matters!

· Critical Repairs - Is this house sound?

· Maintenance Repairs - repairs for the future

· Is the poor appearance just cosmetic?

Decisions to go to contract in a short sale happen quickly. You need the right people to provide
the facts so that an informed decision can be reached. Roots Home Inspection reports are
ideally suited for short sales, we clearly summarize. We also offer a lower price on document inspection.

Call Roots Home Inspection. We answer our phones, schedule you in quickly and
deliver our Reports the next day.

www.RootsHomeInspection.com

Telephone office: (908) 769-0028 cell: (908) 917-0028