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| This Month in Real Estate ............................................................................................................................................... Commentary
The U.S. housing market continues to benefit from the tax credit: home prices and sales remain above year-ago levels. As the summer progresses, however, the positive impact of government stimulus will wind down. Experts point to improved stability as a sign the market can likely hold its ground without further support from the government. However, economists indicate that the key for the housing market through the end of 2010 will be job growth and a manageable level of distressed properties. A job bill that would have further extended unemployment benefits has not gotten off the ground due to concerns over the deficit. Sited as a top priority for the government, a financial overhaul bill continues to proceed though Congress. The bill’s goal is to protect the financial system and the average consumer from unnecessary risk and unsound lending practices in an effort to build a stronger system for the long-term stability of the U.S. economy. The Housing Market
Existing Home Sales Existing home sales slowed slightly in May to 5.66 million, down 2.2% from April but up 19.2% from last May. This is the eleventh consecutive month of year-over-year increase. Lawrence Yun, NAR chief economist, attributes this to the “ongoing effects of the home buyer tax credit,” and he anticipates the same next month. In May, 46% of sales were from first-time buyers, down slightly from the previous month’s 49% but still considered high.
Median Home Price The median price for an existing home was $179,600 in May, up 2.8% from a year ago and 4.2% from April. Distressed homes, accounting for 31% of last month’s sales, continued skewing prices downward slightly as they are usually discounted from comparable homes. Overall, prices this past year continued to show increased stability over the previous year. Vicki Cox Golder, president of NAR states, “With distressed sales at roughly the same level as a year ago, the gain in home prices is a hopeful sign that the market is in a good position to stand on its own without further government stimulus.”
Inventory Total housing inventory declined slightly to 4.89 million in May, representing between eight and eight-and-a-half month supply of sales (if homes continue to sell at the current pace consistently and no new ones come on the market). There are about the same number of homes for sale as last year, with 1% more currently available. Although there continues to be a nice selection of available homes for buyers, the 3.4% fewer number from last month helps to further stabilize prices.
Mortgage Rates Mortgage rates fell to a new record low in June amid a drop in consumer confidence concerning the recovery. The tone of the Federal Reserve’s latest meeting was notably tempered on the outlook for recovery, indicating that the economy is stronger than last year but there is still much ground to cover. Interest rates significantly below 5% may pique the interest of more investors.
Affordability Affordability remains advantageous, supported by the lowest mortgage rates in decades as well as lowered home prices. The home price-to-income ratio continues to remain well below the historical average of 25%, but stabilized home prices are drawing affordability back up toward more normal levels. The ratio now stands at 15.4%. Sources: National Association of Realtors, Freddie MacGovernment Action Tax Credit’s Closing Deadline Extended
Many of these buyers are purchasing short sales which have notably slower contract-to-close time frames. A KW Research study found short sales often take twice as long to close as typical home sales. While this does not extend the credit to any additional buyers, it is great news for those 180,000 who have not yet closed on their home sale through no fault of their own. Source: WSJ.comTopics For Buyers & Sellers
Real Estate Investing
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your local real estate expert, for information about what's going on in our area. Don't forget to check out this month's video:
Newsletter Contents 1. Commentary 2. The Housing Market 3. Government Action 4. Topics for Buyers
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| Brought to you by KW Research. | |
Smitha Ramchandani is a licensed real estate Broker-Salesperson with Keller Williams in New Jersey. She is a Buyer Specialist and a Home Marketing Expert.. You can reach Smitha and her team online at: http://www.Morris-Homes.com.
Smitha and her team specialize in all Morris County Towns such as Boonton, Chatham, Chester, Convent Station, Denville, East Hanover, Florham Park, Hanover, Harding Twp., Mendham, Montville, Morristown, Morris Plains, Morris Twp., Mountain Lakes, Parsippany, Randolph, Rockaway, Whippany
June 2010 Condominium and Townhouse Sales Report - Morristown, Madison, Chatham, Denville, Randolph, Parsippany, Rockaway, Hanover, East Hanover, Montville, Morris Plains, Morris Township, Florham Park, Roxbury, Butler, Lincoln Park, Morris Twp., Mount Arlington, Mount Olive, Riverdale, Whippany, Washington Twp., New Jersey Real Estate
| Town | Address | List Price | Style | Beds | Baths | Garages | Sold Price |
| Butler Boro | 444 CAMBRIDGE DR | $249,900 | One Floor Unit | 2 | 2 | 0 | $242,500 |
| Butler Boro | 343 CAMBRIDGE DR | $359,900 | Townhouse-Interior | 2 | 2.1 | 1 | $342,000 |
| Chatham Boro | 380 MAIN ST APT 20 | $315,000 | One Floor Unit | 2 | 1 | 0 | $303,000 |
| Chatham Twp. | 187 TERRACE DR | $260,000 | One Floor Unit, Townhouse-Interior | 1 | 1 | 1 | $260,000 |
| Chatham Twp. | 2G HERITAGE DR | $289,900 | One Floor Unit | 1 | 1 | 1 | $270,000 |
| Chatham Twp. | 211 Terrace Drive | $300,000 | Townhouse-Interior | 1 | 1 | 1 | $292,500 |
| Chatham Twp. | 13G HERITAGE DR | $312,000 | Townhouse-End Unit | 1 | 1 | 1 | $295,000 |
| Chatham Twp. | 22H CANTERBURY RD | $339,000 | One Floor Unit | 2 | 2 | 1 | $309,500 |
| Chatham Twp. | 145 RIVEREDGE DR | $339,000 | Townhouse-Interior | 1 | 1 | 1 | $315,000 |
| Chatham Twp. | 105 CANTERBURY RD | $474,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $479,625 |
| Chatham Twp. | 3 Magnolia Place | $1,075,000 | Townhouse-Interior | 3 | 3 | 2 | $950,000 |
| Chester Boro | 33 BARKMAN WAY | $599,000 | Townhouse-End Unit | 3 | 2.1 | 2 | $584,000 |
| Denville Twp. | 3707 SCENIC CT | $338,999 | Townhouse-End Unit | 2 | 1.1 | 1 | $326,000 |
| Denville Twp. | 3107 PEER PL | $339,000 | One Floor Unit, Townhouse-End Unit | 2 | 2 | 1 | $300,000 |
| Denville Twp. | 514 KNOLLWOOD CT | $345,000 | Townhouse-Interior | 2 | 2.1 | 1 | $340,000 |
| East Hanover | 9-2 DARA DR | $259,000 | One Floor Unit | 1 | 1.1 | 1 | $235,000 |
| East Hanover | 14 MILLIE LN | $317,800 | Townhouse-Interior | 2 | 2 | 0 | $300,000 |
| East Hanover | 17 QUEENSBRIDGE DR | $405,000 | Townhouse-Interior | 2 | 2.1 | 1 | $385,000 |
| Florham Park Boro | 38 PARK ST 2-C | $357,000 | Townhouse-End Unit | 2 | 1.1 | 1 | $338,000 |
| Florham Park Boro | 58 BROOKLAKE RD | $409,000 | One Floor Unit | 2 | 2 | 1 | $409,000 |
| Florham Park Boro | 250 Ridgedale Ave.J-5 | $469,000 | Multi Floor Unit | 3 | 2.1 | 2 | $430,000 |
| Florham Park Boro | 1 SARAZEN CT | $525,000 | Townhouse-End Unit | 4 | 2.1 | 2 | $498,100 |
| Hanover Twp. | 1605 APPLETON WAY | $384,900 | Townhouse-Interior | 2 | 2.1 | 1 | $375,000 |
| Harding Twp. | 3 Ash Lane | $489,900 | Townhouse-End Unit | 3 | 2.1 | 1 | $450,000 |
| Jefferson Twp. | 17 RIDGEVIEW TER | $199,000 | Townhouse-Interior | 2 | 2 | 1 | $192,500 |
| Jefferson Twp. | 7 PINE HOLLOW CT | $219,000 | Multi Floor Unit, Townhouse-Interior | 1 | 2 | 1 | $213,000 |
| Lincoln Park Boro | 184 ROBERTSON WAY | $255,000 | One Floor Unit, See Remarks | 2 | 2 | 0 | $240,000 |
| Lincoln Park Boro | 195 GETTYSBURG WAY | $285,500 | Townhouse-Interior | 2 | 1.1 | 0 | $270,000 |
| Lincoln Park Boro | 57 TOMS POINT LN | $299,900 | Townhouse-Interior | 2 | 2.1 | 0 | $285,000 |
| Lincoln Park Boro | 74 RYAN LN | $399,900 | Townhouse-Interior | 2 | 2.1 | 1 | $380,000 |
| Long Hill Twp. | 41 SUNRISE DR | $199,900 | First Floor Unit, One Floor Unit | 1 | 1 | 1 | $195,000 |
| Long Hill Twp. | 8 COOPER LN | $405,000 | Townhouse-Interior | 3 | 2.1 | 1 | $390,000 |
| Long Hill Twp. | 52 COOPER LN | $409,000 | Townhouse-Interior | 3 | 2.1 | 1 | $389,000 |
| Mendham Boro | 40 WEXFORD DR | $359,900 | Townhouse-Interior | 2 | 2.1 | 0 | $333,000 |
| Mendham Boro | 4 ESSEX DR | $419,500 | Colonial, Townhouse-Interior | 3 | 2.1 | 1 | $410,000 |
| Mendham Boro | 6 S Aberdeen Dr. | $475,000 | Townhouse-Interior | 3 | 3.1 | 1 | $445,000 |
| Mendham Boro | 3 ESSEX DR | $609,000 | Townhouse-End Unit | 4 | 2.1 | 2 | $597,500 |
| Montville Twp. | 27 SPRINGBROOK RD E | $349,000 | One Floor Unit | 3 | 2 | 0 | $349,000 |
| Montville Twp. | 8 Davenport Rd | $359,900 | Townhouse-Interior | 2 | 2.1 | 1 | $340,000 |
| Montville Twp. | 12 CENTURY CT | $399,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $387,500 |
| Montville Twp. | 8 CENTURY CT | $439,000 | Townhouse-Interior | 3 | 2.1 | 1 | $430,000 |
| Montville Twp. | 32 LENOX CT | $450,000 | Townhouse-Interior | 2 | 2.1 | 1 | $433,000 |
| Montville Twp. | 30 EUGENE DR | $489,000 | Townhouse-Interior | 2 | 2.1 | 1 | $480,000 |
| Montville Twp. | 6 LALIQUE DR | $509,000 | Townhouse-Interior | 2 | 2.1 | 1 | $499,000 |
| Montville Twp. | 12 RIDGE DR | $528,000 | Townhouse-Interior | 2 | 2.1 | 2 | $508,000 |
| Montville Twp. | 15 BARGE CT | $529,900 | Townhouse-Interior | 3 | 2.1 | 1 | $471,000 |
| Montville Twp. | 87 JESSE CT | $589,000 | Townhouse-End Unit | 3 | 2.1 | 2 | $580,000 |
| Montville Twp. | 109 RIDGE DR | $589,900 | Townhouse-End Unit | 3 | 3 | 2 | $549,000 |
| Montville Twp. | 23 LALIQUE DR | $679,000 | Townhouse-End Unit | 3 | 2.1 | 2 | $640,000 |
| Morris Plains Boro | 14G FOXWOOD DR | $289,000 | Multi Floor Unit | 2 | 2 | 1 | $283,000 |
| Morris Twp. | 78 VILLAGE DR | $282,500 | One Floor Unit | 2 | 2 | 0 | $272,500 |
| Morris Twp. | 57 HANCOCK DR | $374,999 | Townhouse-Interior | 2 | 2.1 | 1 | $358,000 |
| Morris Twp. | 61 WILDFLOWER LN | $375,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $375,000 |
| Morris Twp. | 72 KEATS WAY | $400,000 | Townhouse-Interior | 2 | 2.1 | 1 | $385,000 |
| Morris Twp. | 26 WILDFLOWER LN | $419,000 | Townhouse-Interior | 2 | 2.1 | 1 | $409,500 |
| Morris Twp. | 15 DAVENPORT PL | $429,900 | Townhouse-Interior | 2 | 2 | 1 | $415,000 |
| Morris Twp. | 9 DAVENPORT PL | $475,000 | Multi Floor Unit, Townhouse-End Unit | 3 | 2.1 | 1 | $450,000 |
| Morris Twp. | 3 Pilgrim Court | $499,000 | Townhouse-Interior | 3 | 2.1 | 1 | $485,000 |
| Morris Twp. | 30 DAVENPORT PL | $569,000 | Townhouse-End Unit | 2 | 3 | 1 | $525,000 |
| Morris Twp. | 12 RAVEN DR | $619,900 | Townhouse-End Unit | 3 | 2.1 | 1 | $600,000 |
| Morristown Town | 69 Abbett Avenue | $305,000 | Multi Floor Unit, Townhouse-End Unit | 2 | 1.1 | 1 | $280,000 |
| Morristown Town | 29 COBB PL APT B | $317,000 | Multi Floor Unit | 2 | 2 | 0 | $300,000 |
| Morristown Town | 7 PROSPECT ST 410 | $339,900 | Hi-Rise, One Floor Unit | 1 | 1 | 0 | $318,000 |
| Morristown Town | 23 TWOMBLY CT UNIT C | $419,900 | Townhouse-Interior | 2 | 2.1 | 2 | $419,900 |
| Mount Arlington | 32 SPRUCE TER | $279,900 | First Floor Unit, One Floor Unit | 2 | 2 | 0 | $260,000 |
| Mount Arlington | 6 MAPLE LN | $299,900 | Multi Floor Unit, Townhouse-Interior | 2 | 2.1 | 1 | $290,000 |
| Mount Arlington | 32 MAPLE LN | $324,900 | Townhouse-End Unit | 2 | 2.1 | 1 | $315,000 |
| Mount Arlington | 1 LAKESHORE DR | $750,000 | Townhouse-End Unit | 3 | 2.2 | 2 | $650,000 |
| Mountain Lakes Boro | 15 NEWCASTLE CT | $519,900 | Townhouse-Interior | 2 | 3.1 | 1 | $505,000 |
| Parsippany | 2467 STATE ROUTE 10 Apt 49-5B | $152,818 | One Floor Unit | 1 | 1 | 0 | $158,000 |
| Parsippany | 2467 Route 10.Bldg 6,5B | $169,900 | One Floor Unit | 1 | 1 | 0 | $156,500 |
| Parsippany | 2350 STATE ROUTE 10 unit C-31 | $175,000 | One Floor Unit | 1 | 1 | 0 | $165,000 |
| Parsippany | 2467 Route 10 East Bldg 21-2A | $183,475 | First Floor Unit | 1 | 1 | 1 | $171,500 |
| Parsippany | 2350 Route 10 Bldg E Unit 4 | $200,000 | One Floor Unit | 1 | 1 | 0 | $192,000 |
| Parsippany | 2350 RT 10 - B39 | $214,900 | First Floor Unit, Townhouse-End Unit | 2 | 1 | 0 | $205,000 |
| Parsippany | 2467 STATE ROUTE 10 | $215,500 | First Floor Unit, One Floor Unit | 2 | 1 | 0 | $215,500 |
| Parsippany | 20 MONETT CT | $364,000 | Townhouse-Interior | 2 | 2.1 | 1 | $347,000 |
| Parsippany | 103 EMILY PL | $439,900 | Townhouse-Interior | 2 | 2.1 | 1 | $425,000 |
| Parsippany | 175 EMILY PL | $454,900 | Multi Floor Unit, Townhouse-Interior | 2 | 2.1 | 1 | $425,000 |
| Parsippany | 150 JILLIAN BLVD | $459,000 | Townhouse-Interior | 3 | 2.1 | 1 | $446,500 |
| Parsippany | 154 GLADSTONE DR | $469,950 | Townhouse-Interior | 3 | 2.2 | 1 | $459,000 |
| Parsippany | 175 CROWN POINT RD | $489,000 | Townhouse-End Unit | 3 | 3.1 | 1 | $468,000 |
| Pequannock Twp. | 98 Chatfield Drive | $268,900 | One Floor Unit, See Remarks | 2 | 2 | 0 | $264,000 |
| Pequannock Twp. | 306 CHATFIELD DR | $269,000 | First Floor Unit | 2 | 2 | 0 | $240,000 |
| Pequannock Twp. | 5202 TUDOR DR | $269,900 | One Floor Unit | 2 | 2 | 0 | $257,000 |
| Pequannock Twp. | 5403 TUDOR DRIVE | $299,900 | One Floor Unit | 2 | 2 | 0 | $285,000 |
| Pequannock Twp. | 57 SUNSET RD | $329,900 | Ranch | 2 | 1 | 3 | $305,000 |
| Pequannock Twp. | 2104 WENDOVER DR | $367,000 | Townhouse-Interior | 2 | 2.1 | 1 | $344,500 |
| Randolph Twp. | 902 WENDOVER CT | $359,900 | Townhouse-End Unit | 2 | 2.1 | 1 | $352,500 |
| Randolph Twp. | 81 ARROWGATE DR | $375,000 | Townhouse-End Unit | 3 | 2.1 | 2 | $365,000 |
| Randolph Twp. | 43 WOODMONT DR | $389,900 | Townhouse-Interior | 3 | 2.1 | 2 | $375,000 |
| Randolph Twp. | 83 ARROWGATE DR | $405,000 | Detached, Townhouse-End Unit | 3 | 2.1 | 2 | $395,000 |
| Randolph Twp. | 84 ARROWGATE DR | $416,000 | Townhouse-End Unit | 3 | 2.1 | 2 | $405,000 |
| Riverdale Boro | 526 CANNELLA WAY | $195,000 | One Floor Unit, Townhouse-Interior | 1 | 1 | 0 | $192,500 |
| Riverdale Boro | 2311 RAMAPO CT | $249,900 | Townhouse-Interior | 1 | 1 | 1 | $246,000 |
| Riverdale Boro | 1109 WHARTON CT | $260,000 | Townhouse-End Unit | 2 | 2 | 1 | $261,000 |
| Riverdale Boro | 75 MOUNTAIN VIEW CT | $275,000 | One Floor Unit | 2 | 1 | 0 | $265,000 |
| Riverdale Boro | 5211 SANCTUARY BLVD | $291,990 | Townhouse-Interior | 2 | 1 | 1 | $281,990 |
| Riverdale Boro | 5404 SANCTUARY BLVD | $349,990 | Townhouse-End Unit | 2 | 2 | 1 | $344,990 |
| Riverdale Boro | 31 SILVERLEAF CT | $405,000 | Townhouse-Interior | 3 | 2.1 | 1 | $390,000 |
| Rockaway Twp. | 3324 FRANKLIN LN | $128,900 | One Floor Unit | 1 | 1 | 1 | $126,950 |
| Rockaway Twp. | 322 RICHARD MINE RD | $139,900 | One Floor Unit | 1 | 1 | 0 | $139,900 |
| Rockaway Twp. | 2202 JOHNSON DR | $155,000 | One Floor Unit | 1 | 1 | 1 | $152,000 |
| Rockaway Twp. | 322 RICHARD MINE RD | $175,900 | First Floor Unit, One Floor Unit | 1 | 1 | 1 | $142,800 |
| Rockaway Twp. | 2107 CLINTON LN | $199,000 | First Floor Unit, One Floor Unit | 2 | 2 | 1 | $190,000 |
| Rockaway Twp. | 2300 JOHNSON DR | $239,000 | One Floor Unit | 2 | 2 | 1 | $210,000 |
| Rockaway Twp. | 2309 PIERCE LN | $252,950 | Townhouse-Interior | 1 | 1.1 | 1 | $192,950 |
| Rockaway Twp. | 4304 CLEVELAND LN | $269,000 | One Floor Unit | 2 | 2 | 2 | $243,500 |
| Rockaway Twp. | 12 FLINTLOCK TER | $359,900 | Townhouse-End Unit | 3 | 3 | 2 | $345,000 |
| Rockaway Twp. | 6 FAESCH CT | $378,500 | Townhouse-Interior | 3 | 2.1 | 2 | $360,000 |
| Rockaway Twp. | 39 HICKORY HILL CT | $429,900 | Townhouse-End Unit | 3 | 2.1 | 2 | $387,500 |
| Roxbury Twp. | 181 WOODS EDGE DR | $220,000 | Ranch, Townhouse-End Unit | 2 | 2 | 1 | $192,000 |
| Roxbury Twp. | 202 WOODS EDGE DR | $229,900 | One Floor Unit | 2 | 2 | 1 | $210,000 |
| Roxbury Twp. | 105 DRAKE LN | $240,000 | One Floor Unit, Townhouse-Interior | 2 | 2 | 1 | $230,000 |
| Roxbury Twp. | 73 WHISPER WAY EAST | $245,000 | First Floor Unit, Townhouse-Interior | 2 | 1 | 1 | $238,000 |
| Roxbury Twp. | 72 DRAKE LANE | $249,900 | Townhouse-End Unit | 3 | 2 | 1 | $235,000 |
| Roxbury Twp. | 180 WHISPER WAY E | $295,500 | Townhouse-End Unit | 2 | 2.1 | 1 | $290,000 |
| Roxbury Twp. | 29 LOCH LN | $305,900 | Townhouse-End Unit | 3 | 2.1 | 1 | $294,000 |
| Roxbury Twp. | 42 LAGOON WAY | $369,900 | Townhouse-Interior | 3 | 2.1 | 1 | $346,000 |
| Victory Gardens Boro | 33 VICTORY CT | $222,500 | Townhouse-End Unit | 2 | 1.1 | 0 | $222,500 |
| Washington Twp. | 130 NOTTINGHAM SQ | $188,900 | Townhouse-End Unit | 2 | 1.1 | 1 | $180,000 |
| Washington Twp. | 91 NOTTINGHAM SQUARE | $269,900 | Townhouse-Interior | 3 | 2.1 | 2 | $270,000 |
| Washington Twp. | 144 NOTTINGHAM SQ | $285,000 | Townhouse-Interior | 3 | 2.1 | 2 | $273,000 |
| Washington Twp. | 31 DELBARTON COURT | $289,000 | Multi Floor Unit, Townhouse-Interior | 3 | 2.1 | 2 | $280,000 |
| Washington Twp. | 2505 Decatur Court | $349,900 | Townhouse-End Unit | 3 | 2.1 | 2 | $310,000 |
| Wharton Boro | 21138 WEST VIEW | $259,900 | Townhouse-Interior | 2 | 1.1 | 1 | $259,900 |
Smitha Ramchandani is a licensed real estate Broker-Salesperson with Keller Williams in New Jersey. She is a Buyer Specialist and a Home Marketing Expert.. You can reach Smitha and her team online at: http://www.Morris-Homes.com.
Smitha and her team specialize in all Morris County Towns such as Boonton, Chatham, Chester, Convent Station, Denville, East Hanover, Florham Park, Hanover, Harding Twp., Mendham, Montville, Morristown, Morris Plains, Morris Twp., Mountain Lakes, Parsippany, Randolph, Rockaway, Whippany
May 2010 Condominium and Townhouse Sales Report - Morristown, Madison, Chatham, Denville, Randolph, Parsippany, Rockaway, Hanover, East Hanover, Montville, Morris Plains, Morris Township, Florham Park, Roxbury, Butler, Lincoln Park, Morris Twp., Mount Arlington, Mount Olive, Riverdale, Whippany, Washington Twp., New Jersey Real Estate
| Town | Address | List Price | Style | Bed | Baths | Garages | Sold Price |
| Butler Boro | 257 WINTHROP DR | $268,900 | Townhouse-End Unit | 2 | 2 | 0 | $268,500 |
| Butler Boro | 137 BARRISTER DR | $322,500 | Townhouse-Interior | 2 | 2 | 0 | $316,500 |
| Chatham Twp. | 241 RIVEREDGE DR | $250,000 | Townhouse-End Unit | 1 | 1 | 1 | $242,500 |
| Chatham Twp. | 10 Sentinel Ct | $339,000 | Townhouse-End Unit | 2 | 2 | 1 | $325,000 |
| Chatham Twp. | 13B HERITAGE DR | $350,000 | First Floor Unit | 2 | 2 | 1 | $325,000 |
| Chatham Twp. | 50 Sterling Drive | $1,275,000 | Townhouse-End Unit | 3 | 3.1 | 2 | $1,275,000 |
| Chester Twp. | 1 BROWN CT | $549,000 | Duplex, Townhouse-End Unit | 3 | 2.1 | 2 | $549,000 |
| Denville Twp. | 608 KNOLLWOOD CT | $339,900 | Townhouse-Interior | 2 | 2.1 | 1 | $340,000 |
| Denville Twp. | 3604 SCENIC CT | $370,000 | Townhouse-Interior | 2 | 2.1 | 1 | $358,000 |
| Denville Twp. | 2505 VANTAGE CT | $400,000 | Townhouse-Interior | 3 | 2.1 | 2 | $375,000 |
| Denville Twp. | 68 GLATTLY DR | $615,000 | Townhouse-End Unit | 3 | 3.1 | 2 | $600,000 |
| Denville Twp. | 8 ARDSLEY CT | $628,000 | Townhouse-End Unit | 3 | 3.1 | 2 | $568,000 |
| East Hanover Twp. | 20 MILLIE LN | $330,000 | One Floor Unit, Townhouse-Interior | 3 | 2 | 0 | $305,000 |
| Hanover Twp. | 209 VISTA DR | $329,900 | Townhouse-Interior | 2 | 2 | 0 | $315,000 |
| Hanover Twp. | 302 APPLETON WAY | $384,900 | Townhouse-Interior | 2 | 2.1 | 1 | $377,500 |
| Hanover Twp. | 2505 CORTLAND LN | $399,000 | Townhouse-Interior | 2 | 2.1 | 1 | $392,000 |
| Hanover Twp. | 1701 APPLETON WAY | $405,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $398,000 |
| Hanover Twp. | 205 APPLETON WAY | $409,900 | Townhouse-Interior | 2 | 3.1 | 1 | $393,000 |
| Jefferson Twp. | 680 ST ROUTE 15 S UNIT | $139,000 | First Floor Unit | 1 | 1 | 0 | $115,000 |
| Jefferson Twp. | 13 HERITAGE CT | $206,900 | Townhouse-Interior | 2 | 2 | 1 | $203,000 |
| Jefferson Twp. | 18 DAVENPORTS MILL CT | $214,900 | Townhouse-Interior | 2 | 2 | 1 | $214,900 |
| Lincoln Park Boro | 78 GETTYSBURG WAY | $222,000 | Townhouse-End Unit | 1 | 1 | 0 | $215,000 |
| Lincoln Park Boro | 12 WINDSOR DR | $359,900 | Townhouse-Interior | 3 | 2.1 | 1 | $343,500 |
| Lincoln Park Boro | 13 WINDSOR DR | $385,000 | Townhouse-End Unit | 3 | 2.1 | 1 | $351,000 |
| Madison Boro | 318 MAIN ST | $450,000 | Multi Floor Unit, Townhouse-Interior | 3 | 2.1 | 1 | $435,000 |
| Madison Boro | 87 FAIRFAX CT | $525,000 | Townhouse-Interior | 3 | 2.1 | 1 | $508,500 |
| Madison Boro | 260 OXFORD CT | $565,000 | Townhouse-Interior | 3 | 2.1 | 1 | $537,500 |
| Mendham Boro | 16 WEXFORD DR | $385,000 | Townhouse-Interior | 3 | 2.1 | 1 | $385,000 |
| Mendham Boro | 10 Hampshire Drive | $389,000 | Townhouse-End Unit | 2 | 1.1 | 0 | $380,000 |
| Montville Twp. | 45 WASHINGTON CT | $399,900 | Townhouse-Interior | 2 | 2.1 | 1 | $385,000 |
| Montville Twp. | 123 RIDGE DR | $419,000 | Townhouse-Interior | 3 | 2.1 | 1 | $393,000 |
| Montville Twp. | 12 CAIN CT | $455,000 | Townhouse-End Unit | 3 | 2.1 | 2 | $437,500 |
| Montville Twp. | 11 CENTURY CT | $579,500 | Townhouse-End Unit | 2 | 2.1 | 2 | $570,000 |
| Montville Twp. | 54 Louis Drive | $724,800 | Townhouse-End Unit | 3 | 2.1 | 2 | $680,000 |
| Morris Plains Boro | 17-A FOXWOOD DR APT A | $240,000 | Townhouse-End Unit | 1 | 1.1 | 0 | $228,000 |
| Morris Plains Boro | 16AE FOXWOOD DR | $256,900 | One Floor Unit | 1 | 1 | 0 | $230,000 |
| Morris Twp. | 214 PITNEY PL | $239,900 | One Floor Unit | 2 | 1 | 0 | $230,000 |
| Morris Twp. | 42 Byron Ave | $345,000 | Townhouse-Interior | 2 | 2.1 | 1 | $345,000 |
| Morris Twp. | 22 WILDFLOWER LN | $394,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $377,500 |
| Morris Twp. | 39 WOODCREST DR | $549,000 | Townhouse-Interior | 2 | 2.1 | 1 | $520,000 |
| Morristown Town | 6 Altamont Ct - Unit 22 | $265,000 | One Floor Unit | 2 | 1 | 0 | $240,000 |
| Morristown Town | 5-C DORADO DR | $369,000 | Townhouse-Interior | 2 | 2.1 | 0 | $360,000 |
| Morristown Town | 8 JENNI LN | $383,000 | Townhouse-Interior | 2 | 2.1 | 1 | $365,000 |
| Morristown Town | 40 Park Place | $999,000 | One Floor Unit | 2 | 2.1 | 2 | $999,000 |
| Mount Arlington Boro | 62 MAPLE LN | $239,000 | One Floor Unit | 2 | 2 | 0 | $233,000 |
| Mount Arlington Boro | 54 MAPLE LN | $249,900 | First Floor Unit, One Floor Unit | 2 | 2 | 0 | $245,000 |
| Mount Arlington Boro | 136 BROOKSIDE LANE | $310,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $297,500 |
| Parsippany | 180 - 12 LITTLETON RD | $159,000 | One Floor Unit | 1 | 1 | 0 | $151,000 |
| Parsippany | 2467 ROUTE 10 | $165,000 | First Floor Unit | 1 | 1 | 0 | $154,000 |
| Parsippany | 2467 Route 10 43-1B | $177,500 | One Floor Unit, Townhouse-End Unit | 1 | 1 | 0 | $169,000 |
| Parsippany | 2350 Route 10-C38 | $182,900 | One Floor Unit | 1 | 1 | 0 | $181,000 |
| Parsippany | 2467 Route 10 | $206,900 | First Floor Unit, One Floor Unit | 1 | 1 | 1 | $198,000 |
| Parsippany | 8B YACENDA DR | $389,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $389,000 |
| Parsippany | 9C YACENDA DR | $395,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $366,000 |
| Parsippany | 132 EDGEFIELD DR | $419,000 | Townhouse-End Unit | 3 | 2.1 | 1 | $395,000 |
| Parsippany | 114 EDGEFIELD DR | $429,000 | Townhouse-End Unit | 3 | 2.1 | 1 | $415,000 |
| Parsippany | 84 JILLIAN BLVD | $439,000 | Townhouse-Interior | 2 | 2.1 | 1 | $424,000 |
| Parsippany | 39 MONETT CT | $475,000 | Townhouse-End Unit | 3 | 3 | 1 | $465,000 |
| Pequannock Twp. | 5413 TUDOR DR | $278,900 | First Floor Unit, One Floor Unit, Townhouse-End Unit | 2 | 1 | 0 | $265,000 |
| Pequannock Twp. | 205 CHATFIELD DR | $295,000 | One Floor Unit | 2 | 2 | 0 | $282,500 |
| Pequannock Twp. | 4506 TUDOR DR | $314,900 | Townhouse-End Unit | 2 | 2.1 | 0 | $305,000 |
| Riverdale Boro | 54 MOUNTAINVIEW CT | $264,999 | First Floor Unit, One Floor Unit | 2 | 1 | 0 | $256,000 |
| Rockaway Twp. | 322 RICHARD MINE RD B2 | $195,000 | One Floor Unit | 1 | 1 | 0 | $185,000 |
| Rockaway Twp. | 1107 FRANKLIN LN | $204,900 | First Floor Unit, One Floor Unit | 2 | 2 | 1 | $190,000 |
| Rockaway Twp. | 2305 JOHNSON DR | $240,000 | One Floor Unit | 2 | 2 | 1 | $230,700 |
| Rockaway Twp. | 21 POWDERHORN DR | $330,000 | Multi Floor Unit | 2 | 2.1 | 2 | $330,000 |
| Rockaway Twp. | 4 PATRIOT CROSSING CT | $365,000 | Townhouse-End Unit | 3 | 2.1 | 2 | $347,000 |
| Roxbury Twp. | 91 AUTUMN CT | $285,000 | Townhouse-Interior | 2 | 2.1 | 1 | $280,000 |
| Roxbury Twp. | 33 LOCH LN | $303,000 | Townhouse-Interior | 3 | 2.1 | 1 | $298,000 |
| Washington Twp. | 86 NOTTINGHAM SQ | $234,999 | Townhouse-End Unit | 2 | 1.1 | 1 | $230,000 |
| Wharton Boro | 1594 TOP SIDE | $253,900 | Townhouse-End Unit | 2 | 1.1 | 1 | $242,000 |
Smitha Ramchandani is a licensed real estate Broker-Salesperson with Keller Williams in New Jersey. She is a Buyer Specialist and a Home Marketing Expert.. You can reach Smitha and her team online at: http://www.Morris-Homes.com.
Smitha and her team specialize in all Morris County Towns such as Boonton, Chatham, Chester, Convent Station, Denville, East Hanover, Florham Park, Hanover, Harding Twp., Mendham, Montville, Morristown, Morris Plains, Morris Twp., Mountain Lakes, Parsippany, Randolph, Rockaway, Whippany
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April 2010 Condominium and Townhouse Sales Report - Morristown, Madison, Chatham, Denville, Randolph, Parsippany, Rockaway, Hanover, East Hanover, Montville, Morris Plains, Morris Township, Florham Park, Roxbury, Butler, Lincoln Park, Morris Twp., Mount Arlington, Mount Olive, Riverdale, Whippany, Washington Twp., New Jersey Real Estate
| Town | Address | List Price | Style | Bed | Baths | Garages | Sold Price |
| Butler Boro | 394 CAMBRIDGE DR | $303,000 | Multi Floor Unit | 2 | 2 | 0 | $294,000 |
| Chatham Twp. | 246 RIVEREDGE DR | $349,000 | First Floor Unit | 1 | 1 | 1 | $325,000 |
| Chatham Twp. | 69 CANTERBURY RD | $410,000 | Townhouse-Interior | 3 | 2.1 | 1 | $405,000 |
| Denville Twp. | 802 BUCKLAND CT | $359,900 | Townhouse-End Unit | 2 | 2.1 | 1 | $337,500 |
| Denville Twp. | 2401 VANTAGE CT | $399,999 | Townhouse-End Unit | 3 | 2.1 | 2 | $394,000 |
| East Hanover Twp. | 28 JOSEPH DR | $330,000 | One Floor Unit | 3 | 2 | 0 | $320,000 |
| East Hanover Twp. | 9 QUEENS BRIDGE DR | $389,900 | Townhouse-Interior | 2 | 2.1 | 1 | $370,000 |
| Florham Park Boro | 101 BRANDYWYNE DR | $345,000 | One Floor Unit, Ranch, Townhouse-End Unit | 2 | 2.1 | 1 | $319,000 |
| Florham Park Boro | 38 PARK ST 16B | $369,900 | Townhouse-End Unit | 2 | 2.1 | 0 | $357,500 |
| Florham Park Boro | 13 Brandywyne Dr | $369,900 | One Floor Unit | 1 | 1.1 | 1 | $337,000 |
| Florham Park Boro | 58 BROOKLAKE RD | $369,900 | First Floor Unit, One Floor Unit | 2 | 1.1 | 1 | $369,900 |
| Hanover Twp. | 906 BROOK HOLLOW DR | $309,990 | First Floor Unit, One Floor Unit | 1 | 1.1 | 1 | $309,990 |
| Hanover Twp. | 194 VISTA DR | $369,000 | Multi Floor Unit, Townhouse-End Unit | 2 | 2 | 0 | $345,000 |
| Hanover Twp. | 803 BROOK HOLLOW DRIVE | $389,990 | Townhouse-End Unit | 2 | 2 | 1 | $389,990 |
| Hanover Twp. | 1003 MEADOW BROOK COURT | $391,000 | Townhouse-End Unit | 2 | 2 | 1 | $391,000 |
| Jefferson Twp. | 8 PETERSBURG CT | $199,900 | Townhouse-Interior | 1 | 1 | 1 | $190,000 |
| Jefferson Twp. | 26 PINE HOLLOW CT | $209,900 | Townhouse-Interior | 2 | 2 | 1 | $209,000 |
| Lincoln Park Boro | 167 ROBERTSON WAY | $268,000 | One Floor Unit | 2 | 2 | 0 | $265,000 |
| Lincoln Park Boro | 30 RYAN LN | $369,900 | Multi Floor Unit, Townhouse-End Unit | 2 | 2.1 | 1 | $362,000 |
| Madison Boro | 17 ORCHARD STR. | $374,777 | Townhouse-Interior | 3 | 1.1 | 0 | $368,000 |
| Madison Boro | 122 HEMPSTEAD CT | $449,900 | Townhouse-Interior | 2 | 2.1 | 1 | $430,000 |
| Madison Boro | 6 Rolling Hill Court | $545,000 | Townhouse-Interior | 2 | 2.1 | 2 | $530,000 |
| Montville Twp. | 17 BARK MILL TER | $525,000 | Townhouse-Interior | 3 | 2.1 | 1 | $500,000 |
| Montville Twp. | 10 WATERFORD DR | $624,800 | Townhouse-End Unit | 3 | 2.1 | 2 | $595,000 |
| Morris Plains Boro | 9C FOXWOOD DR | $239,999 | One Floor Unit | 1 | 1 | 0 | $227,500 |
| Morris Twp. | 14B LEVA DR | $357,500 | Multi Floor Unit, Townhouse-End Unit | 2 | 2.1 | 2 | $350,000 |
| Morris Twp. | 11 HANCOCK DR | $375,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $365,000 |
| Morris Twp. | 10 WITHERSPOON CT | $382,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $368,000 |
| Morris Twp. | 17 Shelley Place | $399,000 | Colonial, Contemporary, Townhouse-Interior | 2 | 2.1 | 1 | $390,000 |
| Morris Twp. | 64 WILDFLOWER LN | $399,900 | Townhouse-End Unit | 2 | 2.1 | 1 | $386,000 |
| Morris Twp. | 16 THOMAS PAINE RD | $499,000 | Townhouse-Interior | 3 | 2.1 | 1 | $475,000 |
| Morris Twp. | 68 INDEPENDENCE WAY | $565,000 | Colonial, Townhouse-End Unit | 3 | 2.1 | 1 | $520,000 |
| Morris Twp. | 57 REDNER RD | $599,900 | Townhouse-Interior | 4 | 2.1 | 2 | $585,000 |
| Morris Twp. | 3 Wheatsheaf Farm Road | $1,289,000 | Townhouse-End Unit | 4 | 4.1 | 2 | $1,100,000 |
| Morristown Town | 50 ELM ST | $200,000 | One Floor Unit | 1 | 1 | 0 | $200,000 |
| Morristown Town | 8-A GARDEN ST | $274,900 | Multi Floor Unit, Townhouse-End Unit | 2 | 2 | 0 | $262,500 |
| Morristown Town | 44 RIDGEDALE AVE UNIT 36 | $299,900 | Townhouse-Interior | 1 | 1.1 | 0 | $290,000 |
| Morristown Town | 6 N DORADO DR | $315,000 | Townhouse-End Unit | 2 | 2.1 | 0 | $325,000 |
| Morristown Town | 24 KING ST | $399,000 | Townhouse-Interior | 3 | 1.1 | 0 | $360,000 |
| Morristown Town | 27 TAFT LN | $419,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $390,000 |
| Morristown Town | 13 FRANKLIN PL | $500,000 | Townhouse-Interior | 3 | 2.1 | 1 | $480,000 |
| Morristown Town | 28 KING ST Unit B | $699,000 | Townhouse-End Unit | 3 | 2.1 | 1 | $699,000 |
| Mount Arlington Boro | 21 MAPLE LN | $287,500 | Townhouse-Interior | 2 | 2.1 | 1 | $281,800 |
| Mount Arlington Boro | 13 MAGNOLIA LN | $299,000 | Multi Floor Unit, Townhouse-Interior | 2 | 2.1 | 0 | $290,000 |
| Mount Olive Twp. | 44 BROCK LN | $300,000 | Townhouse-End Unit | 3 | 2.1 | 2 | $288,000 |
| Parsippany | 199C N BEVERWYCK RD APT 4 | $149,900 | One Floor Unit | 1 | 1 | 0 | $136,000 |
| Parsippany | 101-14 N BEVERWYCK RD | $150,000 | One Floor Unit | 1 | 1 | 0 | $138,000 |
| Parsippany | 31 LINCOLN GDNS | $178,900 | See Remarks, Townhouse-Interior | 1 | 1 | 0 | $170,000 |
| Parsippany | 2467 ROUTE 10 EAST | $202,000 | One Floor Unit | 1 | 1 | 0 | $202,000 |
| Parsippany | 2467 ROUTE 10 | $208,000 | One Floor Unit | 2 | 1 | 0 | $206,000 |
| Parsippany | 2467 ROUTE 10E - 31-4A | $220,000 | One Floor Unit | 2 | 1 | 0 | $205,000 |
| Parsippany | 2467 ROUTE 10 | $224,999 | One Floor Unit | 2 | 1 | 1 | $220,000 |
| Parsippany | 2467 Route 10 23-3A | $225,000 | One Floor Unit | 2 | 1 | 0 | $220,000 |
| Parsippany | 17 BROOKSTONE CIR | $364,999 | Townhouse-End Unit | 3 | 2.2 | 1 | $358,000 |
| Parsippany | 66 STOCKTON CT | $369,000 | Townhouse-Interior | 3 | 2.1 | 1 | $364,000 |
| Parsippany | 6 VALLEY FORGE LN | $369,900 | Townhouse-Interior | 2 | 1.1 | 1 | $360,000 |
| Parsippany | 173 SPRINGHILL DR | $434,900 | Townhouse-Interior | 2 | 2.1 | 1 | $422,000 |
| Parsippany | 51 AUTUMN RIDGE RD | $470,000 | Townhouse-Interior | 3 | 2.1 | 1 | $466,000 |
| Parsippany | 93 AUTUMN RIDGE RD | $499,900 | Townhouse-Interior | 3 | 3.1 | 1 | $480,000 |
| Parsippany | 142 GLADSTONE DR | $514,900 | Townhouse-End Unit | 3 | 3.1 | 0 | $480,000 |
| Pequannock Twp. | 520 C106 TPKE | $199,000 | First Floor Unit | 1 | 1.1 | 0 | $195,000 |
| Pequannock Twp. | 100 LINCOLN PARK RD | $304,900 | Townhouse-Interior | 2 | 1.1 | 1 | $290,000 |
| Pequannock Twp. | 402 CHATFIELD DR | $305,000 | One Floor Unit, Townhouse-End Unit | 2 | 2 | 0 | $285,000 |
| Pequannock Twp. | 2203 WENDOVER DR | $319,900 | Townhouse-Interior | 2 | 2.1 | 0 | $310,000 |
| Riverdale Boro | 5312 SANCTUARY BLVD. | $284,990 | One Floor Unit, Townhouse-Interior | 2 | 1 | 1 | $284,900 |
| Riverdale Boro | 5 ROCK CREEK TER | $387,000 | Multi Floor Unit, Townhouse-Interior | 3 | 2.1 | 1 | $380,000 |
| Rockaway Twp. | 2202 FRANKLIN LN | $122,000 | One Floor Unit | 1 | 1 | 1 | $120,000 |
| Rockaway Twp. | 3124 FRANKLIN LN | $138,900 | Townhouse-Interior | 1 | 1 | 1 | $130,000 |
| Rockaway Twp. | 1213 BUSH CIR | $268,900 | One Floor Unit | 2 | 2 | 1 | $255,000 |
| Roxbury Twp. | 63 AUTUMN CT | $207,500 | First Floor Unit | 1 | 1 | 1 | $198,000 |
| Roxbury Twp. | 82 WOODS EDGE DR | $225,999 | One Floor Unit, Ranch | 2 | 2 | 1 | $220,000 |
| Victory Gardens Boro | 66 VICTORY CT | $215,000 | Townhouse-Interior | 2 | 1 | 0 | $202,500 |
| Washington Twp. | 132 NOTTINGHAM SQ | $234,900 | Townhouse-Interior | 3 | 2.1 | 1 | $234,900 |
| Washington Twp. | 37 Kensington Ct | $247,900 | Townhouse-Interior | 3 | 2.1 | 2 | $230,000 |
| Wharton Boro | 1068 TREETOPS | $264,900 | Townhouse-Interior | 2 | 1.1 | 1 | $255,000 |
| Wharton Boro | 1278 TREETOPS | $269,900 | Townhouse-Interior | 2 | 1.1 | 1 | $258,000 |
Smitha Ramchandani is a licensed real estate Broker-Salesperson with Keller Williams in New Jersey. She is a Buyer Specialist and a Home Marketing Expert.. You can reach Smitha and her team online at: http://www.Morris-Homes.com.
Smitha and her team specialize in all Morris County Towns such as Boonton, Chatham, Chester, Convent Station, Denville, East Hanover, Florham Park, Hanover, Harding Twp., Mendham, Montville, Morristown, Morris Plains, Morris Twp., Mountain Lakes, Parsippany, Randolph, Rockaway, Whippany
Smitha Ramchandani is a licensed real estate Broker-Salesperson with Keller Williams in New Jersey. She is a Buyer Specialist and a Home Marketing Expert.. You can reach Smitha and her team online at: http://www.Morris-Homes.com.
Smitha and her team specialize in all Morris County Towns such as Boonton, Chatham, Chester, Convent Station, Denville, East Hanover, Florham Park, Hanover, Harding Twp., Mendham, Montville, Morristown, Morris Plains, Morris Twp., Mountain Lakes, Parsippany, Randolph, Rockaway, Whippany
Article From HouseLogic.com, By: Pat Curry
Appraisers and real estate agents offer advice for curb appeal that preserves value and attracts potential buyers.
Curb appeal has always been important for homesellers. With the vast majority of today's homebuyers starting their search on the Internet, the appearance of your property is more critical than ever. You only have a few seconds to catch their attention as they scroll through listings online to get them to stop and take a closer look.
But the role of curb appeal goes beyond just making a good first impression. The way your house looks from the street can impact its value. It can also shorten the time it takes to sell your house.
We asked real estate agents, appraisers, home stagers, landscape designers, and home inspectors which curb appeal projects offer the most value when your house is on the market, both in terms of its marketability and dollars. Here is what they told us:
Hands down, the most commonly offered curb appeal advice from our real estate pros and appraisers is to give the exterior of your home a good paint job (http://www.houselogic.com/articles/exterior-paints-and-stains-guide-options/). Buyers will instantly notice it and appraisers will note it on the valuation.
"Paint is probably the number one thing inside and out," says Frank Lucco, managing partner of Houston-based IRR-Residential Appraisers and Consultants. "I'd give additional value for that. If you're under two years remaining life (on the paint job), paint the exterior because it tends to show wear badly."
Just make sure you stay within the range of accepted colors for your market. A house that's painted a wildly different color from its competition will be marked down in value by appraisers.
Before you make the investment in a paint job, though, take a good look at the house. If it's got mildew or general grunge, just washing the house (http://www.houselogic.com/articles/clean-and-care-siding/) could make a world of difference, says Valerie Torelli, a California real estate agent with a background in accounting.
Before she puts a house on the market, Torelli often does exterior makeovers on her clients' homes, a service she pays for herself to get higher selling prices. Overall, she says her goal is to spend less than $5,000, with a goal of generating an extra $10,000 to $15,000 on the sale price.
Torelli specifies pressure-washing-a job that should be left to professionals. Pressure washing makes the house look "bright and clean in addition to getting rid of unsightly things like cobwebs, which may not be seen from the yard but will detract from the home's cleanliness when seen up close," she says.
The cost to have a professional cleaning should be a few hundred dollars—a fraction of the cost of having the house painted.
California real estate agent Valerie Torelli says she puts a lot of emphasis on landscaping, such as cutting down overgrown bushes and replacing them with leafy plants and annuals mulched with beautiful reddish-brown bark. "It runs me $30 to $50," says Torelli. "Do you get a return on your money? Absolutely. It sucks people in."
You also don't want bare spots. Take the time to fertilize the yard (http://www.houselogic.com/articles/lawn-maintenance-calendar/), throw out some grass seed, and if need be, add some sod.
It could be a flower bed of annuals by the mailbox, a paint job for the front door, or a brightly colored bench or an Adirondack chair. "You can get a cute little bench at Home Depot for $99," Torelli notes. "Spray paint it bright red or blue and set it in the yard or on the front porch."
It's not a bad idea, but don't plan on getting extra points from an appraiser for a red bench, says John Bredemeyer, president of Realcorp in Omaha. "It's difficult to quantify, but it does make a home sell more quickly," Bredemeyer says. "Maybe yours sold a couple weeks faster than the house down the street. That's the best way to look at these things."
An upscale mail box and architectural house numbers or an address plaque can give your house a distinctive look that stands out from everyone else on the block. Torelli makes them a part of her exterior makeovers "I've gotten those hand-painted mailboxes," she says. "A nice one runs you $40 to $50." Architectural house numbers may run as high as a few hundred dollars.
Springfield, Va.-based home inspector and former builder Reggie Marston says the roof (http://www.houselogic.com/articles/roofing-repair-or-replace/) is one of the first things he looks at in assessing the condition of a home. He'll look at other houses in the neighborhood to see if there are a lot of replaced roofs and see if the subject house has one as well. If not, he'll look for curls in the shingles or missing shingles. "I'm looking at the roof for end-of-life expectancy," he says.
You can pay for roof repairs now, or pay for them later in a lower appraisal; appraisers will mark down the value by the cost of the repair. That could knock thousands of dollars off your appraisal. According to Remodeling Magazine's 2009-2010 Cost vs. Value Report (http://www.remodeling.hw.net/2009/costvsvalue/national.aspx), the average cost of a new asphalt shingle roof is more than $19,000.
"Roofs are issues," Lucco says. "You won't throw money away on that job. You gotta have a decent roof."
Stains and plant matter, such as moss, can be handled with cleaning. It's a job that can often be done in a day for a few hundred dollars, and makes the roof look like new. It's not a DIY project; call a professional with the right tools to clean it without damaging it.
A picket fence with a garden gate to frame the yard is an asset. A fence (http://www.houselogic.com/articles/fencing-guide-options/) has more impact in a family-oriented neighborhood than an upscale retirement community, Bredemeyer says, but in most instances, appraisers will give extra value for one, as long as it's in good condition. "Day in a day out, a fence is a plus," Bredemeyer says. Expect to pay $2,000 to $3,500 for a professionally installed gated picket fence 3 feet high and 100 feet long.
Nothing sets off subconscious alarms like hanging gutters (http://www.houselogic.com/articles/fast-fixes-common-gutter-problems/), missing bricks from the front steps, or lawn tools rusting in the bushes. It makes even the professionals question what else hasn't been taken care of.
"A house is worth less if the maintenance isn't done," Lucco says. "Those little things can add up and be a very big detractor. When people say, 'I'd buy it if it weren't for all the deferred maintenance (http://www.houselogic.com/articles/value-home-maintenance/),' what they're really saying is, 'I'd still buy it if you reduce the price.'"
Georgia-based freelance writer Pat Curry has covered housing and real estate for consumer and trade publications for more than a decade, including covering new home sales and marketing for BUILDER, the magazine of the National Association of Home Builders.
Smitha Ramchandani is a licensed real estate Broker-Salesperson in Morristown, New Jersey. She is a Buyer Specialist and a Home Marketing Expert.. You can reach Smitha and her team online at: http://www.Morris-Homes.com.
Smitha and her team specialize in all Morris County Towns such as Boonton, Chatham, Chester, Convent Station, Denville, East Hanover, Florham Park, Hanover, Harding Twp., Mendham, Montville, Morristown, Morris Plains, Morris Twp., Mountain Lakes, Parsippany, Randolph, Rockaway, Whippany
Smitha Ramchandani is a licensed real estate Broker-Salesperson in Morristown, New Jersey. She is a Buyer Specialist and a Home Marketing Expert.. You can reach Smitha and her team online at: http://www.Morris-Homes.com.
Smitha and her team specialize in all Morris County Towns such as Boonton, Chatham, Chester, Convent Station, Denville, East Hanover, Florham Park, Hanover, Harding Twp., Mendham, Montville, Morristown, Morris Plains, Morris Twp., Mountain Lakes, Parsippany, Randolph, Rockaway, Whippany
March 2010 Condominium and Townhouse Sales Report - Morristown, Madison, Chatham, Denville, Randolph, Parsippany, Rockaway, Hanover, East Hanover, Montville, Morris Plains, Morris Township, Florham Park, Roxbury, Butler, Lincoln Park, Morris Twp., Mount Arlington, Mount Olive, Riverdale, Whippany, Washington Twp., New Jersey Real Estate
| Town | Address | List Price | Style | BR | TBT | Gar | Sold Price |
| Butler Boro | 340 CAMBRIDGE DR | $257,200 | First Floor Unit | 2 | 2 | 0 | $242,500 |
| Chatham Twp. | 25A CANTERBURY RD | $249,000 | Townhouse-End Unit | 1 | 1 | 1 | $235,000 |
| Chatham Twp. | 142 RIVEREDGE DR | $379,900 | Townhouse-End Unit | 2 | 2 | 1 | $365,000 |
| Chatham Twp. | 137 TERRACE DR | $499,900 | Townhouse-Interior | 3 | 2.1 | 1 | $490,000 |
| Chatham Twp. | 7 Magnolia Place | $1,225,000 | Townhouse-End Unit | 4 | 4.1 | 2 | $1,227,000 |
| Chester Twp. | 4 PINE TREE LN | $249,900 | A-Frame | 2 | 2.1 | 1 | $245,000 |
| Denville Twp. | 101 SHEFFIELD CT | $328,000 | Townhouse-End Unit | 2 | 1.1 | 1 | $314,800 |
| Dover Town | 62 E BLACKWELL ST APT B | $180,000 | Townhouse-Interior | 2 | 1.1 | 0 | $165,000 |
| East Hanover Twp. | 22 FRANKIE LN | $330,000 | Townhouse-Interior | 3 | 2 | 0 | $315,000 |
| East Hanover Twp. | 1 SHARON DR | $359,000 | Townhouse-End Unit | 2 | 2 | 0 | $327,000 |
| East Hanover Twp. | 60 CASTLE RIDGE DR | $439,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $434,000 |
| Florham Park Boro | 14 BRANDYWYNE DR | $335,000 | Townhouse-End Unit | 1 | 2 | 1 | $315,000 |
| Florham Park Boro | 58 BROOKLAKE RD | $399,900 | One Floor Unit | 2 | 2 | 1 | $399,000 |
| Hanover Twp. | 134 Sunrise Drive | $323,500 | Townhouse-End Unit | 2 | 2 | 1 | $315,000 |
| Hanover Twp. | 403 PAPERMILL DRIVE | $389,990 | Townhouse-End Unit | 2 | 2 | 1 | $379,000 |
| Hanover Twp. | 703 Spring Hollow Drive | $525,000 | Townhouse-Interior | 2 | 3 | 2 | $542,024 |
| Harding Twp. | 5 CEDAR LN | $463,750 | Townhouse-End Unit | 2 | 2.1 | 1 | $447,500 |
| Jefferson Twp. | 3 PETERSBURG CT | $219,000 | Townhouse-Interior | 2 | 2.1 | 1 | $195,000 |
| Jefferson Twp. | 2 DAVENPORTS MILL CT | $309,900 | Townhouse-End Unit | 3 | 2.1 | 2 | $275,000 |
| Lincoln Park Boro | 3 STONYRIDGE DR | $263,000 | One Floor Unit | 2 | 1 | 0 | $255,000 |
| Madison Boro | 25 BEDFORD CT | $539,900 | Townhouse-Interior | 3 | 2.1 | 1 | $539,900 |
| Mendham Boro | 19 PEMBROKE DR | $310,000 | Townhouse-Interior | 2 | 1.1 | 0 | $310,000 |
| Mendham Boro | 44 N ABERDEEN DR | $425,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $360,000 |
| Mendham Boro | 13 WEXFORD DR | $450,000 | Townhouse-Interior | 3 | 2.1 | 1 | $445,000 |
| Montville Twp. | 136 CHANGEBRIDGE RD E8 | $245,000 | Townhouse-End Unit | 1 | 1 | 0 | $235,000 |
| Montville Twp. | 43 WASHINGTON CT | $419,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $403,000 |
| Montville Twp. | 44 WASHINGTON CT | $425,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $385,000 |
| Montville Twp. | 60 WATERFORD DR | $459,900 | Townhouse-Interior | 2 | 2.1 | 1 | $430,000 |
| Montville Twp. | 22 Aynsley Ct | $554,900 | Townhouse-Interior | 3 | 2.1 | 1 | $530,000 |
| Morris Twp. | 58 WITHERSPOON CT | $325,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $315,000 |
| Morris Twp. | 8B LEVA DR | $345,000 | One Floor Unit | 2 | 2.1 | 2 | $329,000 |
| Morris Twp. | 21 WITHERSPOON CT | $355,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $345,000 |
| Morris Twp. | 2C LEVA DR | $355,900 | Townhouse-End Unit | 2 | 2 | 2 | $332,500 |
| Morris Twp. | 12 TIMOTHY CT | $399,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $388,500 |
| Morris Twp. | 40 WILDFLOWER LN | $419,000 | Townhouse-End Unit | 2 | 2.1 | 1 | $410,000 |
| Morris Twp. | 59 INDEPENDENCE WAY | $449,000 | Townhouse-Interior | 3 | 2.1 | 1 | $415,000 |
| Morris Twp. | 70 REDNER RD | $495,000 | Townhouse-Interior | 3 | 2.1 | 2 | $470,000 |
| Morristown Town | 24 KING ST | $229,000 | First Floor Unit | 1 | 1 | 0 | $207,500 |
| Morristown Town | 24 KING ST | $299,000 | First Floor Unit | 2 | 1 | 0 | $280,000 |
| Morristown Town | 3 Jenni Lane | $399,900 | Townhouse-Interior | 3 | 2.1 | 1 | $390,000 |
| Morristown Town | 40 Park Place | $482,000 | One Floor Unit | 1 | 1.1 | 1 | $559,000 |
| Morristown Town | 110 SOUTH STREET UNIT 101 | $530,000 | One Floor Unit | 1 | 1.1 | 2 | $475,000 |
| Morristown Town | 40 Park Place | $779,000 | One Floor Unit | 2 | 2.1 | 2 | $779,000 |
| Mount Arlington Boro | 1 MAGNOLIA LANE | $329,000 | Townhouse-End Unit | 3 | 2.1 | 1 | $320,000 |
| Parsippany-Troy Hills Twp. | 2467 ROUTE 10 BLDG 7 Unit7A | $160,000 | One Floor Unit | 1 | 1 | 0 | $152,000 |
| Parsippany-Troy Hills Twp. | 2467 Rte 10 East Unit 15 1B | $168,000 | Townhouse-End Unit | 1 | 1 | 0 | $160,000 |
| Parsippany-Troy Hills Twp. | 2467 Route 10 Bldg 21-8A | $175,000 | Townhouse-End Unit | 1 | 1 | 0 | $165,000 |
| Parsippany-Troy Hills Twp. | 2467 ROUTE 10 E, UNIT 44-1A | $210,000 | One Floor Unit | 2 | 1 | 0 | $198,000 |
| Parsippany-Troy Hills Twp. | 2467 STATE ROUTE 10 APT 31-3A | $214,900 | One Floor Unit | 2 | 1 | 0 | $202,500 |
| Parsippany-Troy Hills Twp. | 83 CONTINENTAL RD | $348,900 | Townhouse-Interior | 2 | 1.1 | 1 | $356,000 |
| Parsippany-Troy Hills Twp. | 76 Summerhill Dr | $359,900 | Townhouse-Interior | 2 | 2.1 | 1 | $350,000 |
| Parsippany-Troy Hills Twp. | 57 PATRIOTS RD | $377,000 | Townhouse-Interior | 3 | 2.1 | 1 | $368,000 |
| Parsippany-Troy Hills Twp. | 133 JILLIAN BLVD | $459,000 | Townhouse-Interior | 3 | 2.1 | 1 | $452,500 |
| Parsippany-Troy Hills Twp. | 180 JILLIAN BLVD | $465,900 | Townhouse-Interior | 2 | 2.1 | 1 | $430,000 |
| Parsippany-Troy Hills Twp. | 59 ALBERT CT | $469,500 | Townhouse-Interior | 3 | 2.1 | 1 | $450,000 |
| Randolph Twp. | 9 RIDGEWOOD DR | $400,000 | Townhouse-Interior | 3 | 2.1 | 2 | $385,000 |
| Riverdale Boro | 1202 WHARTON CT | $227,900 | One Floor Unit | 1 | 1 | 0 | $205,000 |
| Riverdale Boro | 1305 WHARTON CT | $259,000 | Townhouse-Interior | 1 | 1 | 1 | $238,000 |
| Rockaway Twp. | 1324 HAMILTON DR | $299,900 | One Floor Unit | 2 | 2 | 2 | $279,000 |
| Rockaway Twp. | 311 Cleveland Lane | $309,000 | Townhouse-End Unit | 2 | 2 | 2 | $290,000 |
| Roxbury Twp. | 58 GARDEN CT | $229,900 | Townhouse-End Unit | 2 | 1.1 | 1 | $225,000 |
| Roxbury Twp. | 262 DRAKE LN | $259,900 | Townhouse-End Unit | 2 | 2 | 1 | $250,000 |
| Roxbury Twp. | 46 E WHISPER WAY | $299,900 | Townhouse-Interior | 2 | 2.1 | 1 | $290,000 |
| Washington Twp. | 95 WIMBLEDON SQUARE | $224,000 | Townhouse-End Unit | 2 | 1.1 | 1 | $217,500 |
| Wharton Boro | 23152 WESTVIEW | $252,900 | Townhouse-Interior | 2 | 1.1 | 1 | $250,000 |
Article From HouseLogic.com, By: Gil Rudawsky
If money seems to be escaping through drafty windows, doors, and skylights, this federal tax credit might make energy-efficient replacements more affordable.
Does it feel like money is escaping through your home's drafty windows, doors, and skylights? You might be able to keep at least some of that cash in your pocket by taking advantage of federal energy tax credits for retrofitting your house with qualified energy-efficient replacements. You can claim a tax credit of up to $1,500 for upgrading the windows, exterior doors, and skylights in your primary residence during 2009 and 2010.
The credit is based on 30% of the cost of materials, so a $5,000 purchase would max it out. But a tax credit alone isn't reason enough to start calling contractors. Do a little homework first. The true value of replacing aging windows, doors, and skylights isn't always an open-and-shut case.
A good rule of thumb for window replacement: Don't bother if they're less than 15 years old, says Jim Rooney, a home inspector in Annapolis, Md. The savings on your energy bills likely will be negligible since window technology hasn't changed that radically and the integrity of your windows should still be intact. Shoddy installation or poor manufacturing may call for exceptions to the 15-year rule. Windows that are 20, 30, or more years old are prime candidates for replacement.
Most of your focus should be on windows, since they're more numerous, but skylights are notorious for energy loss too, not to mention water leaks. Exterior doors tend to outlast windows, so keep them unless the upgrade is purely for aesthetic reasons. Besides, weather stripping and snug sweeps can boost the energy efficiency of exterior doors for a whole lot less money.
With windows, doors, and skylights, you get what you pay for. Expect to shell out between $500 and $1,000 per window including installation, or about $10,000 total for a moderately sized house of about 2,000 square feet. New energy-credit-qualified doors and skylights are also in the $500 to $1,000 range, including installation.
Tom Herron, of the National Fenestration Rating Council (http://www.nfrc.org), says products on the higher end of the cost scale are usually better constructed and more energy efficient. NFRC is a non-profit organization that administers the rating and labeling system for the energy performance of windows, doors, and skylights.
It could take years to recoup the upfront costs, but you should see an immediate reduction in your energy bills. In general, you'll save $126 to $465 a year if single-pane windows in a 2,000 square foot house are replaced with tax-credit-eligible windows, according to the Efficient Windows Collaborative, a trade group. That's 15% to 40% off the typical energy bill.
A label alone doesn't guarantee your new windows, doors, and skylights qualify for the energy tax credit, but it does provide critical information related to eligibility. To qualify, windows, doors, and skylights must have a U-factor (http://www.efficientwindows.org/ufactor.cfm) of 0.30 or less and a Solar Heat Gain Coefficient (http://www.energycodes.gov/support/shgc_faq.stm) (SHGC) of 0.30 or less. The U-factor measures how well a product prevents heat from escaping, and the SHGC gauges how well a product blocks heat from the sun. Labels also carry information on light transmission, air leakage, and condensation resistance.
Herron, of the NFRC, says about 80% to 85% of the manufacturers in North America provide NFRC labels. All Energy Star qualified windows carry an NFRC label (http://www.nfrc.org/Label.aspx), according to Energy Star, a joint program of the U.S. Department of Energy and the U.S. Environmental Protection Agency that promotes energy-efficient products and practices.
Resist the urge to trim costs by purchasing cheaper windows, doors, and skylights with poor U-factor and SHGC ratings. Not only will you miss out on the tax credit, energy bills won't come down much.
A credit is especially valuable because it directly reduces the amount of tax owed, as opposed to a deduction, which lowers the amount of taxable income. To be eligible for the full credit you must owe more in federal taxes than you're trying to claim. Use IRS Form 5695 to take advantage of the credit, which is cumulative for 2009 and 2010 only. You can't claim $1,500 for each tax year, but you can spread the $1,500 over the two-year period.
Uncle Sam may want proof that your new windows, doors, and skylights meet energy-efficiency standards, so be sure to save receipts, product stickers, and certification statements. The latter can often be found on packaging or manufacturers' web sites. As for receipts, ask contractors to itemize expenses. Installation costs aren't eligible for the credit; only materials are.
Keep in mind that a variety of energy-efficiency improvements to your existing home, including insulation, roofs, and HVAC, count toward the credit limit. You can't claim separate $1,500 credits for each upgrade, nor can you claim the credit for a newly built home. Matt Golden, president and founder of San Francisco-based Sustainable Spaces (http://www.sustainablespaces.com), says homeowners can often lower energy costs for a lot less, and still get the tax credit, by insulating attics (http://www.houselogic.com/articles/save-money-with-insulation-upgrade/) instead.
This article provides general information about tax laws and consequences, but is not int