Morris County Real Estate Blog
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smitha@morris-homes.com
Weichert Realtors Morristown
Mobile: 973.953.7777
Office: 973.455.1900 Ext. 122
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Morris County Real Estate Blog
Less Can Be More for Buyers
A recent Washington Post article noted that “less” is getting noticed by more homebuyers. According to the 2007 National Association of Home Builders survey, 59 percent of respondents reported that they would prefer a smaller house with high-quality products and amenities, as compared to the 42 percent who preferred a bigger house with fewer amenities. This data represents a change from 2000, when 51 percent wanted a bigger home with fewer amenities.
The 2007 National Association of Home Builders survey also reported:
- 91 percent desired an energy-efficient home that resulted in lower utility bills over the lifetime of the home and used less energy.
- 74 percent wanted one full master bedroom suite, plus three standard bedrooms.
- 69 percent expressed a desire for more space in the master bedroom and less space in the master bath.
- 63 percent preferred a typical kitchen and living area, while 61 percent wanted an open living room/dining room.
- 53 percent preferred a family room and living room about equal in size.
The Rewards of Renovation
Whether you're a new homeowner or a long-time resident, making major home repairs or improvements can significantly add to your personal enjoyment, as well as significantly increase your home's resale value.
Where should you start? Here are a few key facts from recent studies to help you decide which renovations will increase your enjoyment of your home, and which to choose for their return on investment value (or both!):
Your best choices:
* Which investment provides the highest resale payback? In most areas of the country, a new air conditioning or heating system is worth up to 100% of its cost when it's time to sell
* Remodeling your kitchen or bathroom offers a more than 90% return on investment in resale value
* Adding a deck can add up to an 86% bump in resale value
* Replacing the windows in your home can produce a 60 - 70% payback
To consider carefully:
* Experts say that putting in a swimming pool usually provides only up to a 40% return on investment
* The two remodeling investments with the least resale value include finishing off your basement and upgrading your landscaping — generally offering only a 30 - 60% return
Whether you do the work yourself or hire a contractor, making renovations to your home can be a source of pride and pleasure, as well as a smart financial investment.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com, http://www.RoseArborLiving.com, http://www.OakRidgeWhippany.com & http://www.libertygreens.com/.
Where should you start? Here are a few key facts from recent studies to help you decide which renovations will increase your enjoyment of your home, and which to choose for their return on investment value (or both!):
Your best choices:
* Which investment provides the highest resale payback? In most areas of the country, a new air conditioning or heating system is worth up to 100% of its cost when it's time to sell
* Remodeling your kitchen or bathroom offers a more than 90% return on investment in resale value
* Adding a deck can add up to an 86% bump in resale value
* Replacing the windows in your home can produce a 60 - 70% payback
To consider carefully:
* Experts say that putting in a swimming pool usually provides only up to a 40% return on investment
* The two remodeling investments with the least resale value include finishing off your basement and upgrading your landscaping — generally offering only a 30 - 60% return
Whether you do the work yourself or hire a contractor, making renovations to your home can be a source of pride and pleasure, as well as a smart financial investment.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com, http://www.RoseArborLiving.com, http://www.OakRidgeWhippany.com & http://www.libertygreens.com/.
The Truth About Foreclosures
The Truth About Foreclosures
The hot topic among the media these days is foreclosures. It seems you can’t go a day without hearing about the skyrocketing number of homes in foreclosure or heading in that direction. While the number of foreclosures is higher than it used to be, it is still less than you would think based on the media’s accounts.
As we know, buyers and sellers can be scared off by the over-exaggerated reports they see in the news.
Here are some points:
While there are some areas in the Weichert, Realtors company-owned footprint that are facing difficulties, most of our market area (including Morris County, NJ) is only minimally impacted by foreclosures. In fact, according to the Mortgage Bankers Association, less than 2 percent of home loans in the states in which we have company-owned offices were in foreclosure at the end of last year.
Despite reports of tighter credit, there are still many financing options available to the typical buyer. Weichert Financial Services remains a stable and reliable choice, and Weichert has the ability to finance the homes we sell.
Real estate continues to be a good long-term investment. On average, the value of a home nearly doubles every 10 years. Plus, there is no better time than now to buy with mortgage rates at historical lows, increased affordability and a larger inventory of homes to choose from.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com, http://www.RoseArborLiving.com, http://www.OakRidgeWhippany.com & http://www.libertygreens.com/.
The hot topic among the media these days is foreclosures. It seems you can’t go a day without hearing about the skyrocketing number of homes in foreclosure or heading in that direction. While the number of foreclosures is higher than it used to be, it is still less than you would think based on the media’s accounts.
As we know, buyers and sellers can be scared off by the over-exaggerated reports they see in the news.
Here are some points:
While there are some areas in the Weichert, Realtors company-owned footprint that are facing difficulties, most of our market area (including Morris County, NJ) is only minimally impacted by foreclosures. In fact, according to the Mortgage Bankers Association, less than 2 percent of home loans in the states in which we have company-owned offices were in foreclosure at the end of last year.
Despite reports of tighter credit, there are still many financing options available to the typical buyer. Weichert Financial Services remains a stable and reliable choice, and Weichert has the ability to finance the homes we sell.
Real estate continues to be a good long-term investment. On average, the value of a home nearly doubles every 10 years. Plus, there is no better time than now to buy with mortgage rates at historical lows, increased affordability and a larger inventory of homes to choose from.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com, http://www.RoseArborLiving.com, http://www.OakRidgeWhippany.com & http://www.libertygreens.com/.
Morris County Real Estate Recent Townhouse/Condo Sales- April 2008 Condo and Townhome Sales Report
Morristown, Madison, Chatham, Denville, Randolph, Parsippany, Rockaway, Hanover, East Hanover, Montville, Morris Plains, Morris Township, Roxbury New Jersey Real Estate - April 2008 Condos and Townhouse Sales Report.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com, http://www.RoseArborLiving.com, http://www.OakRidgeWhippany.com & http://www.libertygreens.com/.
|
Town |
Address |
Beds |
Baths |
Garages |
Sold Price |
| Butler Boro | 102 BARRISTER DR | 2 | 2 | 0 | $280,000 |
| Chatham Twp. | 285 River Edge Dr. | 1 | 1 | 1 | $283,000 |
| Chatham Twp. | 13-I Kensington Court | 1 | 1 | 1 | $295,000 |
| Chatham Twp. | 11 HERITAGE Drive, Unit A | 1 | 1 | 1 | $315,000 |
| Chatham Twp. | 90 CANTERBURY RD | 2 | 1.1 | 1 | $387,000 |
| Chester Twp. | 23 YOUNG CT | 4 | 3.1 | 2 | $602,500 |
| Denville Twp. | 413 DALTON CT | 2 | 1.1 | 1 | $327,500 |
| Denville Twp. | 3203 Scenic Ct | 2 | 1.1 | 1 | $339,000 |
| Denville Twp. | 1107 Worthington Court | 2 | 1.1 | 1 | $349,900 |
| Denville Twp. | 309 Dalton Ct | 2 | 1.1 | 1 | $340,000 |
| Denville Twp. | 2103 PEER PLACE | 2 | 2 | 1 | $362,500 |
| Denville Twp. | 2205 Middlefield Ct | 3 | 2.1 | 2 | $430,000 |
| Denville Twp. | 2401 VANTAGE CT | 3 | 2.1 | 2 | $459,000 |
| Denville Twp. | 7 HENNING TERRACE | 3 | 3 | 2 | $610,000 |
| Florham Park Boro | 250 Ridgedale Ave. E-2 | 2 | 2.1 | 2 | $435,000 |
| Hanover Twp. | 3204 Appleton Way | 2 | 1.1 | 1 | $311,000 |
| Hanover Twp. | 203 Viera Drive | 3 | 2.1 | 2 | $707,826 |
| Jefferson Twp. | 16 Pine Hollow Ct. | 2 | 2.1 | 1 | $262,500 |
| Jefferson Twp. | 42 RED OAK TERRACE | 2 | 2 | 1 | $255,000 |
| Jefferson Twp. | 1 Pine Hollow | 2 | 2.1 | 2 | $302,500 |
| Jefferson Twp. | 16 Schofield Court | 3 | 2.1 | 2 | $336,000 |
| Kinnelon Boro | 28 Hilltop Rd | 4 | 3.2 | 2 | $842,000 |
| Lincoln Park Boro | 60 STONYRIDGE DR | 2 | 1 | 0 | $287,000 |
| Lincoln Park Boro | 116 GETTYSBURG WAY | 2 | 2.1 | 0 | $310,000 |
| Lincoln Park Boro | 11 Kerry Lane | 3 | 2.1 | 1 | $495,000 |
| Long Hill Twp. | 9 Cooper Lane | 3 | 2.1 | 1 | $450,000 |
| Long Hill Twp. | 3 Stonehedge Road | 3 | 2.1 | 1 | $485,000 |
| Madison Boro | 184 Windsor Place | 3 | 3.1 | 1 | $568,500 |
| Mine Hill Twp. | 507 SHIRLEEN LN | 3 | 2 | 1 | $263,500 |
| Montville Twp. | 63 DAVENPORT RD | 2 | 2.1 | 1 | $390,000 |
| Montville Twp. | 6 Bark Mill Terrace | 3 | 2.1 | 1 | $458,500 |
| Montville Twp. | 93 Jesse Court | 2 | 2.1 | 1 | $460,000 |
| Montville Twp. | 15 Louis Drive | 2 | 2.1 | 2 | $619,600 |
| Montville Twp. | 82 Louis Dr | 3 | 2.1 | 2 | $642,000 |
| Montville Twp. | 39 Waterford Drive | 3 | 2.1 | 2 | $634,000 |
| Montville Twp. | 19 LOUIS DR | 3 | 2.1 | 2 | $670,000 |
| Montville Twp. | 3 LALIQUE DR | 3 | 2.1 | 2 | $710,000 |
| Morris Plains Boro | 9D Foxwood Dr. | 1 | 1 | 0 | $264,500 |
| Morris Twp. | 7 CAROLINE FOSTER COURT | 2 | 2.1 | 1 | $396,000 |
| Morris Twp. | 19 WILDFLOWER LN | 2 | 2.1 | 1 | $412,000 |
| Morris Twp. | 51 Wildflower Lane | 2 | 2.1 | 1 | $408,000 |
| Morris Twp. | 33 WILDFLOWER LN | 2 | 2.1 | 1 | $415,000 |
| Morris Twp. | 18 CAROLINE FOSTER CT | 2 | 2.1 | 1 | $437,000 |
| Morris Twp. | 15 SHELLEY PLACE | 2 | 2.1 | 1 | $437,500 |
| Morris Twp. | 7 Independence Court | 3 | 2.1 | 1 | $450,000 |
| Morris Twp. | 3 INDEPENDENCE CT | 3 | 2.1 | 1 | $482,500 |
| Morristown Town | 320 SOUTH ST. 2H | 1 | 1 | 0 | $229,900 |
| Morristown Town | 320 SOUTH St Apt 5A | 1 | 1 | 0 | $224,500 |
| Morristown Town | 51 MT KEMBLE AVE 205 | 2 | 2 | 0 | $295,000 |
| Morristown Town | 3B DORADO DR | 2 | 2.1 | 0 | $330,000 |
| Morristown Town | 48 Taft Lane | 2 | 2.1 | 1 | $470,000 |
| Morristown Town | 13 FRANKLIN PL 8B | 3 | 2.1 | 1 | $530,000 |
| Mount Arlington Boro | 3 PROSPECT ST UNIT 2D | 1 | 1 | 0 | $178,500 |
| Mount Arlington Boro | 41 PRIMROSE LN | 2 | 2.1 | 1 | $390,000 |
| Mount Arlington Boro | 18 MULBERRY LN | 3 | 2.1 | 2 | $485,000 |
| Mount Olive Twp. | 276 Winding Hill Drive | 4 | 2.1 | 2 | $415,095 |
| Mount Olive Twp. | 103 Winding Hill Dr. | 4 | 2.1 | 2 | $410,000 |
| Parsippany-Troy Hills Twp. | 2467 ROUTE 10 | 1 | 1 | 0 | $179,000 |
| Parsippany-Troy Hills Twp. | 206 Emily pl | 3 | 3.1 | 1 | $485,000 |
| Pequannock Twp. | 410 Chatfield Drive | 2 | 1 | 0 | $268,000 |
| Pequannock Twp. | 3102 TUDOR DR | 2 | 2.1 | 0 | $376,000 |
| Randolph Twp. | 1 RIDGEWOOD DR | 3 | 2.1 | 2 | $479,000 |
| Randolph Twp. | 17 Buckingham Court | 3 | 2.1 | 1 | $490,000 |
| Riverdale Boro | 25 MOUNTAIN VIEW CT | 1 | 1 | 0 | $280,000 |
| Riverdale Boro | 2208 Ramapo Court | 1 | 1.1 | 1 | $298,490 |
| Riverdale Boro | 2112 Ramapo Court | 2 | 2 | 1 | $299,900 |
| Rockaway Boro | 9 WOODS EDGE DR | 3 | 2.1 | 0 | $312,000 |
| Rockaway Twp. | 69 CAYUGA AVE | 2 | 1 | 0 | $225,000 |
| Rockaway Twp. | 4207 Cleveland Lane | 2 | 2 | 1 | $287,500 |
| Rockaway Twp. | 16 MOHAWK AVE | 3 | 3 | 1 | $410,000 |
| Roxbury Twp. | 14 Woods Edge Dr. | 2 | 1.1 | 1 | $242,500 |
| Roxbury Twp. | 97 DRAKE LANE | 3 | 2 | 1 | $308,000 |
| Washington Twp. | 134 Nottingham Square | 3 | 2.1 | 2 | $280,500 |
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, a Home Marketing Expert and also an expert in buying and selling of townhouses and condominiums. You can reach Smitha at: 973-252-8245 (Res.) or online at: http://www.Morris-homes.com/, http://www.thetownhouseexpert.com/ http://www.MorrisCountyHomeFinder.com/, http://www.thetownhomeexpert.com/, http://www.morriscountytownhomes.com/ , http://www.Morris-Townhomes.com/, http://www.BerkshireHillsTownhomes.com, http://www.RoseArborLiving.com, http://www.OakRidgeWhippany.com & http://www.libertygreens.com/.
Morris County Real Estate Recent Townhouse/Condo Sales- March 2008 Condo and Townhome Sales Report
Morristown, Madison, Chatham, Denville, Randolph, Parsippany, Rockaway, Hanover, East Hanover, Montville, Morris Plains, Morris Township, Roxbury New Jersey Real Estate - March 2008 Condos and Townhouse Sales Report.
|
Town |
Address |
Beds |
Baths |
Garages |
Sold Price |
| Butler Boro | 137 BARRISTER DRIVE | 2 | 2 | 0 | $318,000 |
| Butler Boro | 351 CAMBRIDGE DRIVE | 2 | 2.1 | 1 | $375,000 |
| Chatham Twp. | 126 TERRACE DR | 2 | 1 | 1 | $350,000 |
| Chatham Twp. | 16-I Heritage Drive | 2 | 2 | 1 | $380,000 |
| Chatham Twp. | 179 RIVEREDGE DR | 3 | 2.1 | 1 | $572,500 |
| Denville Twp. | 3107 PEER PL | 2 | 2 | 1 | $355,000 |
| Denville Twp. | 8 CHEROKEE TRL | 4 | 2 | 1 | $365,000 |
| Denville Twp. | 3504 SCENIC CT | 2 | 2.1 | 1 | $385,000 |
| Denville Twp. | 1606 WINDSOR CT | 4 | 2.1 | 2 | $415,000 |
| Denville Twp. | 2703 Ashfield Court | 3 | 2.1 | 2 | $443,000 |
| Dover Town | 44B Fox Hill Drive | 1 | 1 | 0 | $131,000 |
| Dover Town | 52A E BLACKWELL ST | 2 | 1 | 0 | $205,000 |
| Dover Town | 10 Byram Ave | 2 | 1.1 | 0 | $220,000 |
| Dover Town | 6 SICKLE ST | 2 | 2.1 | 1 | $255,000 |
| East Hanover Twp. | 6 Queensbridge Drive | 3 | 2.1 | 1 | $430,000 |
| Florham Park Boro | 16 Cathedral Ave | a | 1.1 | 1 | $460,000 |
| Jefferson Twp. | 149 E SHAWNEE TRL | 3 | 2.1 | 0 | $377,000 |
| Jefferson Twp. | 49 Hill Hollow | 4 | 2.1 | 2 | $480,000 |
| Kinnelon Boro | 77 OLD COW PASTURE LN | 4 | 2.2 | 2 | $720,000 |
| Lincoln Park Boro | 158 Gettysburg Way | 1 | 1 | 0 | $236,000 |
| Lincoln Park Boro | 305 GETTYSBURG WAY | 2 | 1.1 | 0 | $275,000 |
| Lincoln Park Boro | 6 Robertson Way | 2 | 2 | 0 | $314,000 |
| Lincoln Park Boro | 43 Windsor Dr | 3 | 2.1 | 1 | $398,000 |
| Lincoln Park Boro | 10 Allister Court | 3 | 2.1 | 1 | $402,000 |
| Long Hill Twp. | 369 Valley Road | 3 | 2.1 | 0 | $385,000 |
| Madison Boro | 268 U3 Main Street | 1 | 1 | 0 | $380,000 |
| Mendham Boro | 21 Pembroke Drive | 3 | 3 | 1 | $475,000 |
| Mine Hill Twp. | 400-28 E RANDOLPH AVE | 2 | 2.1 | 1 | $314,500 |
| Montville Twp. | 52 E Springbrook Rd. | 3 | 2 | 0 | $378,000 |
| Montville Twp. | 11 FREEDOM CT | 2 | 2.1 | 2 | $452,500 |
| Montville Twp. | 3 FRANKLIN CT | 3 | 3.1 | 2 | $521,000 |
| Morris Twp. | 217 Pitney Place | 1 | 1 | 0 | $200,000 |
| Morris Twp. | 50 WILDFLOWER LN | 3 | 2.1 | 1 | $375,000 |
| Morris Twp. | 80 Hancock Drive | 2 | 2.1 | 1 | $408,000 |
| Morris Twp. | 59 WILDFLOWER LANE | 2 | 2.1 | 1 | $400,000 |
| Morris Twp. | 25 TIMOTHY COURT | 3 | 2.1 | 1 | $424,900 |
| Morris Twp. | 12 Shelley Pl | 3 | 2.1 | 1 | $500,000 |
| Morris Twp. | 38 DAVENPORT PLACE | 3 | 3 | 1 | $529,000 |
| Morristown Town | 61-B WESTERN AVE | 2 | 1 | 0 | $270,000 |
| Morristown Town | 6H Dorado Drive | 2 | 2.1 | 0 | $347,500 |
| Morristown Town | 44 RIDGEDALE AVE UNIT 37 | 2 | 2 | 1 | $365,000 |
| Morristown Town | 25 WINDMILL DR | 2 | 2.1 | 1 | $401,000 |
| Morristown Town | 17 ROBERTSON CT | 3 | 2.1 | 1 | $428,000 |
| Morristown Town | 21 GREEN ST UNIT A | 3 | 2.1 | 0 | $545,000 |
| Morristown Town | 20 TWOMBLY CT | 2 | 2.1 | 2 | $545,000 |
| Mount Arlington Boro | 110 CRESTVIEW LANE | 2 | 2 | 0 | $295,000 |
| Mount Arlington Boro | 53 RIDGEVIEW LN | 2 | 2 | 1 | $325,000 |
| Mount Arlington Boro | 28 LAKESHORE DRIVE | 3 | 3.1 | 2 | $490,000 |
| Mount Olive Twp. | 278 Winding Hill Drive | 4 | 2.1 | 2 | $436,285 |
| Mountain Lakes Boro | 16 Robin Hood Drive | 3 | 2.2 | 2 | $720,000 |
| Netcong Boro | 60 STOLL ST | 2 | 1 | 0 | $145,000 |
| Parsippany-Troy Hills Twp. | 189-75 LITTLETON ROAD | 2 | 1 | 0 | $232,500 |
| Parsippany-Troy Hills Twp. | 6 VALLEY FORGE LN | 2 | 1.1 | 1 | $366,000 |
| Parsippany-Troy Hills Twp. | 4 Gordon Circle | 3 | 2.1 | 1 | $452,000 |
| Parsippany-Troy Hills Twp. | 6 KELLEY LANE | 3 | 2.1 | 2 | $477,346 |
| Pequannock Twp. | 5216 TUDOR DR | 2 | 1 | 0 | $275,000 |
| Randolph Twp. | 603 WENDOVER CT | 2 | 2 | 1 | $328,000 |
| Randolph Twp. | 509 BOULDER RIDGE DR | 2 | 2 | 1 | $345,000 |
| Randolph Twp. | 115&nb |