About Sussex County, NJ

FOR IMMEDIATE RELEASE

Contact:
Judy Golland
Broker of Record
EXIT Towne & Country Realty in Newton
973-383-8989 973-383-8989
judy@exittowne.com

Market Points to Home Buying Opportunity

Newton, NJ (Grassroots Newswire) 7/1/2009 -- Recent fluctuations in home prices have created a great opportunity for home buyers here in Newton according to recent market trends.

Buyer are calling the shots!

"A lot of people are taking advantage of these conditions and are being rewarded by finding homes in areas that have in the past been difficult to find inventory," remarked Judy Golland, Broker of Record, of EXIT Towne & Country Realty. "What a great time to buy a home."

Many homeowners have gone beyond thinking about moving, to spending some time with a REALTOR® to find a home that best fits their current needs. "We're in a bit of a window right now," Golland remarked. "I'm pleased with the quality of the homes available to show my clients."

EXIT Towne & Country Realty is one of the fastest growing real estate companies in this area. Driven by higher than industry average commissions and a retirement program, EXIT Realty's revolutionary Formula of financial remuneration for salespeople is taking the real estate industry by storm.

For more information about EXIT Towne & Country Realty, please call 973-383-8989 973-383-8989 . EXIT Towne & Country Realty is located at Trinity Street, in the heart of Newton.

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Documents and/or Photos available for this release:

Judy Golland, Licensed Broker of Record

To view supporting documents and/or photos, go to www.enr-corp.com/pressroom and enter Release ID: 214230

This Sparta NJ market report is based on information in GSMLS as of September 2, 2009. Data for previous months has been updated; for example, if a Lake Mohawk home for sale went Under Contract, the deal fell apart and the home is again on the market, the previous months were adjusted.

Market data for Sparta NJ real estate shows that 17 homes sold in August with an average sale price of $532,382 - an increase from the previous month. Sparta's average Sale to List price was 94% - typical.

For the new listings of 57 homes for sale in Sparta, the average price is $573,280 (another increase). The average list price for Sparta homes that went Under Contract $379,714 - a significant decrease from July and sad news for Sparta owners of the larger, more expensive homes for sale. Additionally, if one compares the closings in August to the active listings, we're looking at just under 5% actually closing a deal.

As of 9/2/09, Lake Mohawk real estate market data shows 6 sales - from $227,500 up to a lakefront Colonial selling for $995,000. A slight decrease as we hit September, the 74 active Lake Mohawk homes for sale still give buyers lots of options!

• Sparta NJ real estate up to $350K

• Homes for sale in Sparta NJ $350K-$500K.

• Sparta NJ homes for sale $500K and above.

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from RealtorIrene.com represents Irene's personal musings.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. In addition to Lake Mohawk and Sparta,her market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Newton, Ogdensburg, Scenic Lakes, Stockholm, Sussex, Vernon, Wantage.

This pre-foreclosure vacation condo at Minerals Resort Hotel and Spa in Vernon NJ is listed for sale at just $36000. Minerals Resort is within the Great Gorge Village compound, nestled at the Mountain Creek ski slopes and home of the acclaimed Minerals Golf Course. Sussex County NJ is also a golf paradise with may other local golf courses - Crystal Springs, Ballyowen, Wild Turkey, Great Gorge, Cascades and Black Bear. Street address is 2 Chamonix Drive, Vernon, NJ.

Income Potential through Minerals Resort's optional condo Rental Pool

Just today the current owner shared his rental statistics, which show that his portion of the 2008 rental-pool income more than covered the annual taxes and maintenance fees on this Minerals Hotel vacation property! Based on his 2009 documentation, rentals of this Minerals Resort getaway condo in Vernon NJ appear equally robust this year. Of course, no guarantees can be made about future rentals, the management's apportionment of such income down the line, etc.

Moreover, you could opt not to have your Minerals Resort condo be part of the rental pool at all. Especially as this Vernon hotel-style condo is a Short Sale offered at just $36000, you may want to keep every weekend open for you, family, friends, employees, etc. Sussex County NJ is a year-round vacation destination, just about 50 miles from New York City.

Take a peek at my series on Sussex County NJ Vacation/Resort Properties for Sale or just enjoy the video on this Minerals Hotel preforeclosure condo:

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post represents Irene's personal musings.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Stockholm, Sussex, Vernon, Wantage.

Update Sept. 19 - This Sussex County NJ foreclosed home for sale attracted a huge amount of interest and multiple offers. Freddie Mac/HomeSteps has accepted one and kept another as a backup. Alas, there isn't an equivalent home for sale in Highland Lakes right now - or I'd have a deal on it too right now!

At long last, this fabulous three-bedroom ranch home for sale in Highland Lakes NJ awaits you! An attractively priced foreclosure in Sussex County NJ, this Vernon home has the most spectacular lake views. Whether you seek a vacation property or a permanent residence, this ranch in Highland Lakes might just be the deal for which you've been waiting!

Offered at just $167000 - in time to benefit from the $8000 first-time home buyer tax credit!

Since early July, I've been VERY excited about listing 29 Lakeside Drive - Highland Lakes (Vernon NJ) for sale because it is in such good condition compared to typical REOs for sale - Highland Lakes and elsewhere. Freddie Mac/HomeSteps has been most generous in funding "make ready" work. The neglected yard got a long overdue haircut (as a neighbor stood and cheered!). The Vernon NJ home for sale has been emptied and cleaned - see the terrible "before" photo. Some steps are still in the works: electric repairs and removal of the living room carpet/reseal the underlying hardwood floors. This Highland Lakes foreclosure home for sale will also have the plumbing checked once we can operate the well pump. (It had been winterized.)

I'm delighted to report that it no longers looks like that photo. This Vernon NJ home for sale is now ready for buyers to come take a peek! With the lake right across the street, I anticipate a great deal of interest from:

• first-time home buyers wanting to purchase in time for the $8000 tax credit ;
• those downsizing and wanting a smaller home - particularly a ranch;
• folks seeking a vacation or getaway property in a lovely Sussex County NJ lake community;
• all house hunters seeking a fabulous deal!

The following link to one of my posts may be useful if you're considering a foreclosure in Highland Lakes - Vernon - Sussex County NJ or anywhere in the U.S. You'll also find links to some of my other posts on distressed properties - REOs, foreclosures, pre-forclosures, short sales, etc.

Want to Steal a Foreclosure? Get the REO facts from a Sussex County NJ real estate agent

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from RealtorIrene represents Irene's personal musings.

Considering selling a home or looking to buy one around Sussex County, NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene directly via the data to the right or HomesIrene.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Stockholm, Sussex, Vernon, Wantage. With her vast network, however, Irene Kennedy also can help you find an equally talented real estate agent elsewhere.

Many of you potential first-time homeowners racing to buy homes for sale in Sussex County NJ may need some better glasses.

Yes, the $8000 tax credit might be an important factor. Please don't overlook, however, that value does not just equal the lowest list price. Particularly with homes for sale Sussex County NJ, you'll be wise to look carefully at the age of a roof, septic system, furnace, etc. If you only see the list price, your great deal might not be such a bargain when you add in expensive work in the not-too-distant future.

I have two Sussex County homes for sale listed where major systems have been recently overhauled. This should offer peace of mind that you won't been spending a small fortune in the near future on, say, a septic system.

Are the list prices higher than that foreclosure you are considering? Absolutely. Speaking frankly, you may be very shortsighted if you buy a bargain today without factoring the major expenses you will be facing in the next few years. A roof ain't cheap! Septic work carries sticker shock!

Here is a gem of a ranch home for sale in Wantage Township NJ; it has a Branchville NJ mailing address. A meticulously maintained two-bedroom home, the owners have already made huge investments in a roof, front and back decks, flooring, etc. The septic is only 10 years old. Entirely move-in ready.

Sure, 41 Beemer Church Road has a somewhat higher list price than some of the Sussex County fixer-uppers you're considering buying. But when that bargain home for sale needs a new roof in 2 years, will you be prepared to pay the cost? Don't count on increasing home values resulting in your ability to get a home-equity loan to pay for the roof.

Update September 7, 2009 - The price on the following ranch home for sale in Scenic Lakes - Vernon - Sussex County NJ is being drastically reduced by $30000. The new price is just $185000!

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This three bedroom ranch home for sale in Scenic Lakes - Vernon NJ - is another great value! Newer furnace, septic and some appliances. Yes, you'll want to do some painting and perhaps refinish the hardwood floors under the living room carpet. As your fortunes increase, you have the OPTION of updating a bathroom. (Replacing a septic is NEVER an option, trust me!) Buying 12 High Crest Drive in Scenic Lakes might just be a better value than a bank-owned foreclosure on which you'll have some capital expenses in the next couple years!

So, if you're looking to buy a home for sale in Sussex County NJ - or elsewhere - clean your glasses! Stop and consider the longer-term costs of that underpriced foreclosure.

Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from RealtorIrene represents Irene's personal musings.

Considering selling a home or looking to buy one around Sussex County, NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.

Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Stockholm, Sussex, Vernon, Wantage. With her vast network, however, Irene Kennedy also can help you find an equally talented real estate agent elsewhere.