by Jeffrey Bogert on July 15, 2010
Here is a quick update on the housing market here in the US that was put together by Keller Williams and hosted by Jay Papasan. We hope that you find this information on the national real estate market useful. We are continially analyzing Montclair area real estate so if have specific question or you would like more information on the what is happening locally please call or email. To find out what your home is worth you can sign up for the market snapshot over in on the right hand side of the site. It will provide you Montclair area homes are currently for sale, what are pending and what recent sales. It provides a ton of other local information about the Montclair area as well so I encourage you to take a look.
What are your thought about the market, we would love to hear from you and thanks for stopping by.
by Jeffrey Bogert on July 13, 2010
Many home buyers today are looking for modern one level living. The other day I had the privilege of photographing this lovely 1960′s raised ranch located on a superb West Caldwell street. This ranch home is situated between 2 cul-de-sacs. The potential West Caldwell home buyers are offered 3 bedrooms on 1st level. The light filled spaces are spectacular and the family room Walk-out lower level with bedroom and family room for extended family living. Upgrades include a new furnace & new A/C in ’03, the roof in ’05 as well as new siding, new patio and walkway. There are all new interior doors and updated kitchen and baths. The new owner will enjoy the private backyard, Locate just outside of the window filled den is and outdoor space where the new West Caldwell home buyers will be able to entertain on the 16×32 deck. The home has all new windows and is ready for to a new owner to move right in. Enjoy the video and please reach out with questions or if you would like to schedule a private showing .
by Jeffrey Bogert on June 14, 2010
With the national debt spiraling out of control, two wars and an environmental disaster of epic proportions facing the country we understand that any source of revenue to our government coffers is welcome. In a what can only be describes as a creative attempt to raise funds, it seem that 1600 Pennsylvania Avenue NW is up for sale . We have to wonder if this is really something Mr. Obama should be exploring?
We are unsure just who posted the property on the for sale by owner site Owners.com but we do know that when the pacific northwest’s Redfin picked up the listing for the Whitehouse from the site, they inadvertently got it wrong. Sorry folks the presidential digs are not really for sale and your dreams of buying your way into that posh Washington address will have to wait. CBS News has an explanation of the mishap. The question we have for our readers is if the Whitehouse really were for sale how much do you think if would be worth? Let us know what you think.
by Jeffrey Bogert on June 11, 2010
One day it happens. You have to change your living arrangements. Whether you are moving up, moving down, relocating, divorcing, getting married, one thing that is clear is that whatever the reason you are selling your digs…it is usually not in your best interest to reveal the “Why”. While it is tempting to market your home yourself as a for sale by owner in this case some professional advice could have avoided this amusing but fatal home marketing mistake.
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If you are considering selling your Montclair home please give a call and we can discuss OUR comprehensive Montclair home marketing plan. Don’t make the same marketing mistake this by owner seller did. If you are interested in knowing what your home worth you can fill out the Market Snapshot over on the right of this page. Hat Tip to Curbed NY.
by Jeffrey Bogert on June 4, 2010
Lets look at the Montclair million dollar home market. Before getting into the numbers we wanted to point out that 40 Edgemont Road is back on the market. You may remember that this home sold in February of 2009 for $2,510,000 closing at a 25+ percent premium over the asking price just 5 months after the beginning of the financial crisis. This really is a lovely Montclair home located across from Edgemont Park is listed at$2,499,000. It seems that buyers definitely perceive value when a home has been restored by the Van Notes. It is interesting to see that the home is listed not with Barbara Lewis who brought the buyer last February but rather with Bridget Van Note.
Taking a looking at the absorbtion rate million dollar homes in Montclair we see that for homes originally listing above the 1 million dollar mark there is a 31 month supply. 11 homes sold last year where the original listing price was over 1 million dollars . Divide that by the number months and them multiply by the active inventory of 34 home. I have excluded the$16 million dollar listing at 32 Club Way . If no other Montclair homes priced in the million dollar range came on the market today it would take a little more than 2.5 years to sell through the existing inventory. A Six months’ supply is considered a balanced market — when the number of listings roughly equals the number of buyers. Numbers over six represent a buyers’ market and those below a sellers’ market.
Of the 11 Montclair million dollar homes that sold over the last year the stats break out as follows:
- Original list price was $1,406,909
- Average list price was $1,368,363
- Average sale price was $1,258, 500
- Average price reduction was $106,000
- Original list price to final sale price was 89.66%
- Average Days On Market was 100
- 18 homes were withdrawn from the market or the listing expired
Interesting numbers for sure at the top of the market here in Montclair. We would love to hear what you think. As the baby boomer become empty nesters and choose to downsize or relocate we have to wonder if there are enough people who will move up to these great homes. One thing we know for sure is that no one cancelled the future and people are still buying. With so much to choose from if you are in the market for a high-end home please contact us and we would be happy assist you. In the meantime feel free to search home available for sale in Montclair over a million dollars.
