The Heights at Montclair exceeds the luxury boundaries.  Sprawling multi-level floorplans typically contain 3 bedrooms and anywhere from 2.5 to 3.5 bathrooms.  Soaring ceilings in the foyer and conversation room give it a palatial feeling.

For the commuter, you benefit from several train stations within only a couple of miles, bus stations, and of course the convenience of Rt. 3, Rt. 46, I-287, and the Garden State Parkway.  If you commute to the city by car, you are less than 20 miles to the Lincoln Tunnel.

The Heights at Montclair – All Available Condos for Sale & Rentals 

 

Showing appointments are required at the Heights at Montclair.  Please call Scott with NJREG at 877-688-7582 for additional details or simply send him an e-mail.  We value an opportunity to earn your business. Scott is a local, attended MSU and achieved All-American status as a baseball player.  Past player for NJ Jackals, the local professional baseball team!  7 years real estate experience.

Click Here  for all other Montclair NJ homes and condos for sale

Click here for our NEW Montclair Real Estate Report page.  A report on absorption, inventory, and browse all homes for sale in Montclair.

So it’s been an interesting year to date when comparing this year to last years’ real estate prices.  Oh, how the mighty have fallen.  When real estate is supposed to be the driving engine to financial freedom, this recession has exposed the vulerability that real estate has from other industries. 

The glaring and most obvious  cause of the housing sector demise was the Wall Street meltdown in September of 2008.  Today, we enter September 1, 2009 and the overall mentality and confidence has enormously changed.  Entering September 1 of last year, we already experienced the March collapse of Bear Stearns when they sold the company for $10 per share to JP Morgan Chase.  Rumor speculation over the course of the summer was that the “sh!t” was about to hit the fan due to the subprime mess.  On September 15, 2008, Lehman Brothers filed Chapter 11 Bankruptcy which was the “death stomp” to the investment banking industry.

Visit our customized MLS feed to all Montclair homes for sale (please be patient while list populates)

Due to a lot of confusion and the loss of hudreds of billions of dollars of paper loss wealth throughout the world, real estate came to a halt and prices declined even faster than they already had been. 

Montclair is a New Jersey suburb who not only felt the “normal” heat from the recession, but due to Essex County housing many executives on Wall Street and the financial sector, it was just a matter of when, would we see Montclair NJ homes for sale decline in value.

Fast forward to today.  September 1, 2009.  Sure, we are still dealing with increasing unemployment, but we are seeing positive activity on Wall Street and positive activity in the housing market.  As banks slash their REO prices it also requires homeowners looking to sell to consequently become more realistic about their listing price.  Affordability has re-entered the market and more and more Americans can find a home in Montclair within their means of a budget.

There has been a clear change of values year over year to present day.  Here are the simple statistics.  I will give you a link to view the entire chart showing month to month as well.

Here is the interesting statistic:  From January 1, 2008 thru September 1, 2008, the average active listing was $709,030.  From January 1, 2009 thru September 1, 2009, one year later, the active listing average actually INCREASED to $719,331, however, NEW LISTINGS, for the month of August 2008 and August 2009, actually decreased from $708,105 down to $684,596, about a 3.4% drop.

Below is what matters most

Homes Under Contract:  From January 1, 2008 thru August 31, 2008, the average home UNDER CONTRACT was $759,499.  From January 1, 2009 thru August 31, 2009, the average home UNDER CONTRACT was $605,558, a 21.3% drop.

Homes SOLD:  From January 1, 2008 thru August 31, 2008, the average home SOLD was $764,396.  From January 1, 2009 thru August 31, 2009, the average home SOLD was $611,468, a 21.1% Drop.

What this chart does is gives an idea of year to date price drops.  Although more homes sold year to date (Sept. 1) last year, more than this year, we did not factor in Q4 which had the biggest drop in prices.  We believe that these numbers are a clear indicator of where prices have dropped to. 

Click_Here_For_Chart

If you are in the market for Montclair NJ homes for sale,  New Jersey Real Estate Guys can help you find a dream home within your budget.  Please call Scott @ 877-688-7582 for all of your northeast New Jersey real estate needs.

We will be happy to discuss the state of the market with you and assist in finding you the right home at the right price.

Montclair, NJ

FYI, check out all homes for sale in Montclair NJ in our custom designed MLS feed to the right of the screen.  Click on Advanced Search  if you would like more precision.

Local Schools

Age Breakdown

Montclair NJ Income Levels

Education Attained

Crime – Red Line is National Average

9/1/09 Upper Montclair Update:  Approximately 7 months later, 2 of these homes have sold.  Montclair real estate is picking up and homes under $400,000 in the 07043 zip code of Upper Montclair are selling very quickly due to historically low rates, real estate prices, and the use of FHA financing.  New Jersey Real Estate Guys has a constant pulse on the locat market Montclair Township so if you are in the market for your future dream home, look no further.  We would love to be interviewed for the job of assisting in your purchase.  We are the areas best agents!

Today is Wednesday February 18, 2009 and we want to expose a few available homes in Montclair, NJ that are bargains under $400k.  The Montclair real estate you will be shown in this post are all detached single family homes in or around the Upper Montclair prestigious home section.  KEEP IN MIND that due to value declinations in the real estate industry, there are the possibilities of TAX APPEALS.  Montclair is a high demand market and very few homes remain under $400k.  CLICK HERE for Montclair, NJ demographics report and schools

Below are some of quality homes left for under $400,000.  Please contact us for additional information, pictures, or to set up a showing at your convenience.  Click images to enlarge.

N. Fullerton Ave
Available for $359k, a recent reduction from $399k.  This updated colonial home has been on the market for a little less than 5 months.  There are 2 main floors consisiting of 3 bedrooms 2 bathrooms, however can be significantly expanded by finishing the 3rd floor and basement.
 

Pleasant Avenue
This is a short sale and the price has already been approved by the bank (3rd Party).  It has been verbally confirmed that this is a good possibility for tax appeal.  Located just off Orange Ave, this is brand new construction and never lived in.  Probably requires about $5,000 of finishing work.  Walking distance to schools and in great neighborhood.  Home is a 4 bedroom 2.5 bathroom 2 story layout and available for under $360k.

Sears Place
Beautiful brand new gutted to the studs and rebuilt home.  Available for under $365k, this is practically brand new including new heat, A/C, electric plumbing, windows, doors, and spacious back patio.  Consisting of 3 bedrooms, 2 full baths, and 2 half baths.

Cloverhill Place
Updated Center Hall Colonial.  Home is available for under $380k.  Consisting of 3 bedrooms, 1 Full Bathroom, this home is perfect for a small family, couple, or roomates.  Located just off demanded Claremont Ave, this home is walking distance to shopping, dining, etc.

Upper Mountain Ave.
WOW…Upper Mountain Ave for UNDER $400k!!  Upper Mountain Ave has some of the most beautiful homes in the country and home to many wealthy individuals.  This home is 3 bedrooms 1 bath.  I have visited this  home and in my construction experience, would recommend adding another bathroom to the home.  Note:  A bathroom will cost approximately $8,000 but add about $15,000 in equity to the house.

Upper Mountain Ave.
Double WOW!!  Another beautiful and updated home ON Upper Mountain Ave.  This Dutch Colonial home has it all.  Consisting of 4 bedrooms 2.5 UPDATED baths, and would floors throughout, this home is available for UNDER $400k through the process of a short sale.  This is a 2 story home with 2 car detached garage.

Montclair NJ Homes

 CLICK HERE for a full activity/inventory report on Montclair NJ real estate and homes for sale 

New Jersey Real Estate Guys assist all buyers, seller, and investors in residential and commercial real estate in Montclair, New Jersey.  Growing up in the area, attending college in Montclair, and knowing the market better than anyone, we can help you find a fantastic deal at an affordable price.

Those interested in residential real estate in Montclair, NJ and homes for sale will find many types and styles of homes for sale in Montclair, as well as community events of interest and local amenities unique to the Montclair area. Others may enjoy outdoor activities and family friendly atmosphere of Montclair, NJ.  CLICK HERE for Montclair’s demographic report and schools.

If you are considering buying or selling a home, planning to relocate, looking for Montclair homes for sale on the MLS, or looking for any other information about real estate in Montclair, and the surrounding areas, you have come to the right place.  Located only 15 miles from New York City, Montclair boasts one of the most convenient metropolitan markets in the NYC surrounding areas.  Commuters can enjoy convenience using NJ Transit Bus and Train system which has dozens of daily trips to get you anywhere in the entire state, but moreso the New York City area.

Single family homes in Montclair have also experienced value declinations, however not as dramatic as other parts of the country.  It is the opinion of New Jersey Real Estate Guys that Montclair has experienced the bottom of the market as prices have begun to stagnate.  A stagnation may be experienced for a few months however, we urge those looking or shopping for property to put their decision making into a higher gear.

From January 2007 to January 2008, the average value of single family homes declined from $711,747 to $644,813.  From January 2008 to November 2008, prices of homes declined from $644,813 to $554,911.  We do not anticipate a similar annual drop into next year 2010 which indicates a great time to buy.

Also currently with our most recent data, there are 83 existing homes, 0 New Homes, and 102 Foreclosures on the market in Montclair.  Foreclosures made up the majority of the homes for sale. This accounted for 102 real estate properties or 55% of the Montclair, NJ real estate market. The rest of the market comprised of resale homes and new homes totaling 83 and 83 houses respectively.  These numbers do not represent all homes, as not all homes are marketed the same.  The number of existing or resale homes is those found in most MLS’s.

Given recent events, foreclosures can also be good purchase opportunities given their reduced cost.  Click the following link to see your criteria of homes for sale in Montclair, NJ

Fast Facts for Montclair, NJ Real Estate

• Population                        37,581
• Population Growth          -3.6%
• Population                        5,980 (per square mile)
• Median Age                      39 Years
• Median Income               $89,472
• Cost of Living Index        140 (national average 100)
• Unemployment Rate      3.9% (under national average)
• Future Job Growth          11.5%