Morristown NJ Real Estate Blog

Pricing Your Home To Sell

 

When it comes to selling your home, you might be tempted to ask for more than what you know it to be worth. After all, you reason, by pushing up the asking price, you will have a bit of a cushion to play with when it comes to negotiating the final closing price. While this may seem logical on the surface, asking too much for your home can actually result in losing out on money in the long run. To that end, here is a look at three reasons why you need to ask a reasonable price when putting your home on the market.

Reason #1: You Want to Be Taken Seriously

When putting your home on the market, you want to be taken as a serious seller. When you put a price on your home that is clearly inflated, you won’t be taken seriously by those who are looking for a house. After all, it doesn’t take much to price homes in your area to find out whether or not your home is reasonably priced. When you put an inflated price tag on your home, it tells potential buyers that you don’t really want to sell.

Reason #2: You Don’t Want to Scare Off Potential Buyers

Another reason to ask a reasonable price is to avoid scaring off potential buyers. Many buyers narrow down their search according to price range. If your home is listed at a price that is out of their range, they won’t bother to take a look at it. As such, when you inflate the price on your home, you effectively reduce the pool of people who might be interested in purchasing your home.

Reason #3: You Want to Move Your Home Quickly

You might reason that you would rather “hold out” for a buyer who is willing to pay a higher price for your home, but keeping your home on the market for too long could ultimately destroy your chances of making a sale. The reality is that homes go stale after they have been on the market for too long. Therefore, if you continue to “hold out” because you are looking for...

How to Choose the Home That's Right for You


Are you getting ready to start shopping for a home? If so, this is likely a very exciting time for you. After all, owning a home is a dream come true for most people. At the same time, this can be a very overwhelming and stressful time in your life as you try to select the home that is just right for you. By keeping these five tips in mind, you can reduce your stress levels as you embark on your search for the perfect home.

Tip #1: Choose the Right Location

Everyone knows that the number one rule in real estate is location - and this is the number one rule for good reason. Not only is the location an essential component in terms of property value, but it is also an important aspect of maintaining your lifestyle of choice. If you have a family, for example, you might want to live in a cul-de-sac where they can play outside without much concern for traffic. If you enjoy participating in nightlife activities, on the other hand, a home located in the city might be a better choice for you. As such, it is essential to consider the activities you enjoy as well as your lifestyle needs when deciding on the right neighborhood for you.

Tip #2: Select a Home that is Accessible

Along with determining the type of neighborhood in which you want to live, you should also consider the accessibility of the home. This is particularly true if you will need to commute back and forth to work, as you want to be certain major highways are close enough to make your commute as uneventful and fast as possible.

Tip #3: Get the Right Amount of Yard Space

While you may be dreaming of a home with plenty of yard space or that is on acres of land, you need to make certain you are prepared to maintain this large amount of space. On the other hand, even if you aren’t a fan of yard work, you will want to be sure to have plenty of outdoor space for your kids to play if you are raising a family. Therefore, when...

Morris Township Home Sales

Morris Township NJ Real Estate Home Sales

Morris Township NJ Real Estate home sales for the months of June and July totaled 62. 

  • 203 PITNEY PL  $214,900 One Floor   $210,000 
  • 14 VILLAGE DR  $269,000 One Floor     $240,000  
  • 91 HARTER RD  $279,900 Ranch  $260,000  
  • 78 VILLAGE DR $282,500 One Floor   $272,500  
  • 80 VILLAGE DR*  $295,000 One Floor     $287,500  
  • 400 MOUNT KEMBLE AVE  $299,900 Ranch    $277,000  
  • 190 SUSSEX AVE*  $329,900 Colonial    $320,000  
  • 90 WILDFLOWER LANE  $350,000 Townhouse   $350,000  
  • 16 WITHERSPOON CT  $359,900 Townhouse    $340,000  
  • 2 ELDER DR  $369,000 Cape Cod    $356,000  
  • 70 WITHERSPOON CT  $374,500 Townhouse    $359,000  
  • 57 HANCOCK DR  $374,999 Townhouse    $358,000  
  • 61 WILDFLOWER LN  $375,000 Townhouse   $375,000  
  • 20 KEATS WAY  $375,000 Townhouse    $370,000  
  • 143 HILLCREST AVE  $379,000 Ranch   $322,000  
  • 31 HANCOCK DR  $383,000 Townhouse   $370,000  
  • 4 FLORENCE AVENUE  $389,000 Colonial    $375,000  
  • 58 WILDFLOWER LN  $395,000 Townhouses  $385,000  
  • 62 LAKE RD  $399,000 Custom Home  $335,000  
  • 383 SUSSEX AVE  $399,000 Bi-Level  $383,000  
  • 25 COLUMBIA RD  $399,900 Colonial   $389,000  
  • 5 SHELLEY...

Real Estate Marketing

I have recently received alot of questions about why agency for sale signs remain on homes after they are under contract as well as why the home continues to be advertised on websites....gsmls, realtor.com, trulia, zillow, etc.  I have to tell you, I see it all the time ...its common practice at least my area  ~ Morristown, Madison, Chatham, Millburn right thru to Westfield New Jersey. 

I called Garden State today for clarification.  This is what I was told 'It's the law that the seller is permitted to market their home until it closes'.  Garden State MLS even created a new status 'US'  this means under contract continue to show. The reason Garden State created this new status is because what agents have been doing is just not marking the home as under contract. This new 'US' status at least identifies upfront that the home is under contract without having to put it in additional remarks. It also keeps it on all the third party websites such as realtor.com, trulia, agency IDX, etc.

Is it fair? 

Well, let's see ... from the seller's perspective, it allows the listing agent to obtain backup offers from agents with interested clients and/or names of buyers who may want to submit an offer should the deal fall thru.  It's a bit of a safety net so they don't completely lose time should the buyer not be able to get a mortgage or the deal falls thru.

There is an additional benefit here which is self-serving to the listing agent...they could get potential buyer leads from calls on the home ~ apologetically tell them that the home is under contract and offer to show them another home.

From the...

Real Estate 101: Understanding Types of Agency

When it comes to the world of real estate, many people assume that the primary role of the real estate agent is to sell homes. While this is a large portion of many agents’ careers, the reality is that there are three different types of agency that a real estate agent may represent. Therefore, it is important for anyone who works with a real estate agent to understand these three types of agency and how they might affect the way the agent handles the entire transaction,

Real Estate Agent as Seller’s Agent Also referred to as the listing agent, the seller’s agent is responsible for representing the person who is selling the home. While the seller’s agent may assist the buyer with finding a home, he or she is ultimately responsible for representing the interests of the seller. This means that, when it comes to negotiating the price or any other details of the contract, the seller’s agent will try to get the best deal for the seller. Although this doesn’t mean the agent will be deceitful, it does mean the buyer should refrain from sharing anything with the agent that he or she wouldn’t want to be shared with the seller.

Real Estate Agent as Buyer’s Agent On the other side of the spectrum, a real estate agent may work as a buyer’s agent. As the name suggests, the buyer’s agent works on behalf of the person who is purchasing the home. Although the buyer’s agent may assist the person who is selling the home, his or her primary responsibility lies with representing the buyer. Just as the buyer shouldn’t disclose certain information to the seller’s agent, the seller should avoid sharing pertinent information with the buyer’s agent unless otherwise required by law.

Real Estate Agent as Dual Agency Sometimes referred to as an intermediary agent, the dual agency real estate agent serves as an intermediary for both the buyer and the seller....

Convent Station NJ Real Estate Sales

Convent Station NJ Real Estate

Convent Station is a popular community/neighborhood in Morris Township.  Its on the East side of town, offers sizeable homes with yards and is close to both train stations and Morristown center with shopping. 

Convent Station home sales for June and July 2010 are listed below.  The housing prices in Convent have a wide range which means this commuter friendly neighborhood has offers housing options to a variety of home buyers.

  • 25 COLUMBIA RD  $399,900 Colonial  $389,000  
  • 33 TERRY DR  $439,000 Split Level   $430,000  
  • 17 HOUSE RD  $529,000 Colonial  8    $529,000  
  • 17 FLORENCE AVE  $535,000 Colonial   $535,000 
  • 3 BRAIDBURN WAY  $599,000 Bi-Level    $565,000  
  • 14 BRAIDBURN WAY  $599,000 Bi-Level    $565,000  
  • 4 CANFIELD TER  $645,000 Ranch   $620,000  
  • 31 OLD GLEN RD  $879,000 Split Level    $848,750
  • 21 CROMWELL DR  $1,035,000 Split Level    $950,000

Condo sales in Convent Station coming soon!

...

Morristown NJ Real Estate Statistics

Morristown NJ Real Estate 

 

Interesting Morristown home sale statistics.....

Morristown home sale average year-to-date is $443,799 for 2010

  • Morristown home sale average year-to-date in July 2009 was $426,255
  • Morristown home sale average year-to-date in July 2008 was $409,411
  • Morristown home sale average year-to-date in July 2007 was $454,153
  • Morristown home sale average year-to-date in July 2006 was $478,474
  • Morristown home sale average year-to-date in July 2005 was $440,601

Call Susan Zanzonico on 973-214-5872 for assistance with your Morristown NJ real estate needs!  I specialize in towns along the Midtown Direct train line to include Chatham and Millburn NJ real esate.

...

Harding NJ Real Estate Sales

Harding Home Sales January thru July 2010  

     

  • 17 Beech Lane  $449,999 Multi Floor Unit  $440,000 
  • 5 Cedar Lane  $463,750 Townhouse-End Unit  $447,500 
  • 3 Ash Lane  $489,900 Townhouse-End Unit    $450,000  
  • 8 Alpine Trail  $539,000 Colonial   $520,000  
  • 66 Sand Spring RD  $885,000 Expanded Ranch   $800,000  
  • 15 Post House Rd.  $995,000 Colonial    $900,000  
  • 31 E Lake Trail  $1,250,000 Lakestyle  $1,190,000  
  • 115 Jenks Road  $1,295,000 Colonial   $1,200,000  
  • 49 Lake Trail East  $1,295,000 Colonial  $1,100,000  
  • 156  Pleasantville Road  $1,318,000 Contemporary   $1,225,000  
  • 15 Brook Drive North  $1,499,900 Colonial  $1,510,000  
  • 67 Millbrook Rd.  $1,595,000 Custom Home    $1,487,500  
  • 2 Hawks Nest Lane  $2,499,000 Colonial   $2,300,000  
  • 106 Lees Hill Rd.  $3,200,000 Colonial  $3,200,000  
  • 111 Pleasantville Rd.  $3,395,000 Colonial  $3,200,000  
  • 50 Ravenswood Lane  $4,495,000 Colonial  $3,850,000  
  • 44 Red Gate Rd. $4,650,000 Colonial    $3,930,000  
  • 6 Great Oaks Rd.  $4,700,000 Carriage House $4,200,000 

Call Susan on 973-214-5872 for assistance with your Harding NJ real estate search!

...

Real Estate Home Sale Prices

Year-to-date Average Home Sale Prices

 

  • Chatham Boro - $736,794
  • Chatham Township - $830,193
  • Florham Park - $592,427
  • Harding Township - $1,748,225
  • Madison Boro-$754,665
  • Mendham Boro -$620,151
  • Mendham Township - $988,717
  • Morris Township - $521,204
  • Morristown - $443,799
  • Randolph Township - $545,026
  • Summit City- $979,437
  • Westfield Town - $773,577

Call Susan on 973-214-5872 for real estate assistance on any of these towns or others near or along the Midtown Direct train line.

...

Madison NJ Real Estate

Madison NJ Sales February thru July 31, 2010

 

  • 34 RIDGEDALE AVE*  $299,000 Colonial   $235,000  
  • 7 SAMSON AVE*  $299,900 Colonial  $305,000 
  • 16 FLETCHER PL*  $299,900 Split  $284,000  
  • 60 BROOKLAKE RD*  $300,000 Colonial   $241,000 
  • 17 ORCHARD STR.  $374,777 Townhouse-Interior   $368,000  
  • 2 LOCUST ST  $399,000 Victorian    $385,000  
  • 128 RIDGEDALE AVE*  $399,000 Colonial   $399,000 
  • 33 CHELSEA COURT  $399,900 Townhouse-Interior    $380,500  
  • 43 BRITTIN ST*  $410,000 Colonial   $415,000 
  • 25 NILES AVE  $415,000 Cape Cod  $407,500  
  • 23 CANTERBURY RD*  $419,900 Split   $386,000  
  • 5 ROSEMONT AVE*  $425,000 Colonial    $420,000 
  • 5 Kensington Rd.  $434,500 Cape Cod  $422,500 
  • 70 LATHROP AVE (the HILL)  $436,000 Colonial    $418,000 
  • 122 HEMPSTEAD CT*  $449,900 Townhouse-Interior    $430,000  
  • 318 MAIN ST*  $450,000 Multi Floor Unit $435,000  
  • 201 GREENWOOD AVE*  $450,000 Colonial   $435,000  
  • 9 HOWARD ST*  $475,000 Cape Cod  $455,000  
  • 4 GIBBONS PL*  $475,000 Colonial   $420,000  
  • 14 FOREST ROAD  $489,000 Colonial    $460,000  
  • 70 VALLEY RD*  $489,000 Cape Cod    $475,000  
  • 23 VALLEY RD*  $489,000 Cape Cod    $489,000  
  • 4 TROY CT*  $499,000 Bi-Level  $470,000  
  • 15...

The Village Townhomes

Morris Township Townhomes

       

What a great complex, so convenient to the hospital, offices and businesses on Madison Avenue and of course Morristown center. 

Year-to-date there have been three units sold, I sold two of them myself. Details below...
 

  • 14 Village Dr.  $269,000 One Floor Unit    $240,000 1 - days on market
  • 2324  78 Village Dr.  $282,500 One Floor Unit    $272,500 - 13 days on market
  • 2324  80 Village Dr.  $295,000 One Floor Unit   $287,500 - 101 days on market

Call me today on 973-214-5872 for your Morris Township real estate needs or if you have a unit in the Village that you need to get on the market!
 

 

...

Morristown NJ Real Estate Sales for June and July

Morristown NJ Real Estate

 

Morristown had 31 real estate closings total in the months of June and July 2010.  Details are below.

  • 31 HARRISON ST $154,900 1/2 Duplex  - $150,000 92 DOM 
  • 37 HILL ST  $185,000 One Floor Unit, Townhouse-Interior  -  $176,500 36 DOM
  • 14 JERSEY AVE  $209,900 Colonial -  $200,000 22 DOM 
  • 29 LAKE RD  $251,500 Colonial -  $248,000 26 DOM
  • 48 MADISON ST  $269,000 Colonial  -  $246,000 36 DOM
  • 89 WESTERN AVE  $269,900 Colonial  - $250,000 2  DOM
  • 2 TUXEDO PL  $275,000 Custom Home -  $275,000 10  DOM
  • 17 HILLAIRY AVE  $280,000 Colonial -  $280,000 359  DOM
  • 18 LIBERTY ST  $300,000 Colonial  -  $280,000 130 DOM
  • 69 Abbett Avenue  $305,000 Multi Floor Unit -  $280,000 339  DOM
  • 29 COBB PL APT B  $317,000 Multi Floor Unit   - $300,000 107 DOM
  • 7 PROSPECT ST 410  $339,900 Hi-Rise, One Floor Unit   -  $318,000 382  DOM
  • 6A DORADO DR  $359,000 Townhouse-End Unit  - $350,000 16  DOM
  • 53 PHOENIX AVE  $365,000 Colonial   -  $355,000 50  DOM
  • 2325  25 ELLIOTT ST  $389,500 Colonial  -  $375,000 95 DOM
  • 37 TAFT LN  $414,975 Townhouse-End Unit  - $399,800 25 DOM
  • 23 TWOMBLY CT UNIT C*  $419,900 Townhouse-Interior  -  $419,900 62  DOM
  • 26 WOODLAWN DR  $430,000 Colonial, Split Level   -  $431,500 14  DOM
  • 12 WOODLAWN DRIVE  $444,900 Cape Cod - $430,000 25 DOM
  • 16 TUXEDO PL  $479,000 Ranch   - $479,000 16  DOM
  • 107 EARLY ST  $479,900 Colonial   -  $479,900 10  DOM
  • 19 SUNSET...

From our Blog

RSS Feed

Home

Posts By Category

Basking Ridge NJ Real Estate (1) Bernards Township NJ Real Estate (1) Bernardsville NJ Real Estate (1) Buying a Home (4) Chatham NJ Real Estate (48) Chatham Township NJ Real Estate (24) Convent Station NJ Home Sales (2) Convent Station Real Estate (10) Denville NJ Real Estate Sales (1) Denville NJ Real Estate Town House Sales (1) Fun Stuff (17) Hanover NJ Real Estate Home Sales (1) Harding NJ Real Estate (20) Home Sales in Chatham Boro NJ (1) Homes for Sale in Morristown NJ (1) Livingston NJ Real Estate (13) Madison NJ Real Estate (40) Main (4) Mendham NJ Real Estate (2) Millburn NJ Real Estate (33) Morris County NJ Real Estate (4) Morris Plains NJ Real Estate (1) Morris Township Home Sales (1) Morris Township NJ Real Estate (79) Morris Township NJ Real Estate Home Sales (2) Morris Township NJ Town Home Sales (1) Morris Township Real Estate (1) Morristown NJ Home Sales (1) Morristown NJ Real Estate (216) Morristown NJ Real Estate Home Sales (3) Morristown NJ Real Estate Sales (4) Morristown NJ Schools (2) New Jersey Real Estate (2) New Jersey Restaurants (1) Parsons Village Real Estate Sales (1) Randolph Real Estate (2) Real Estate Information (9) Selling Your Home (3) Short Hills Millburn NJ Real Estate (2) Short Hills NJ Real Estate (8) Short Hills Real Estate (4) Summit NJ Real Estate (22) Vail Mansion (1)

Posts By Month

What's My Home's Value?

Our professional analysis includes data on recent sales & current market trends.

Find Out Now
New Listing Email Alerts

Be the first to know when new listings hit the market.

Sign Up Now
What My Clients Say

Read what past clients have said about working with Susan Zanzonico.

Learn More