HOLY SALES!!!!  Whether you think that the First Time Homebuyer Tax Credit had an affect on the market, it clearly shows that it did at least a little bit.  Although $8,000 is likely not enough to sway someone buying a Ridgewood home from their purchase, $8,000 is still $8,000 for those that did meet the qualifying criteria.

Ridgewood is on pace to shatter the 2009 level of sales volume.  In 2009, there were 194 home sales according to the NJMLS.  To date, there have been 116 home sales and summer, the busy time, is just picking up steam.  Prices have been consistently good for the last 3 months and it looks like the Ridgewood market could be up to its last test, which is maintaining the level of sales without the incentive of government props.

If you would like a full list of homes for sale in Ridgewood or would like to set an appointment to discuss the area or your home, please call us at 877.688.7582

Let’s look at some June numbers.  Be sure to check out the full report below.

JUNE:

Available Inventory for sale: 133 Homes

Homes Under Contract: 66

Homes Sold: 43

Average Sales Price: $764,572

Rate Of Absorption: 3.1 Months….WOW!

To view the full report for Ridgewood NJ Real Estate for month over month and year over year figures CLICK HERE

If you clicked on the link, you will notice that the charts indicate a familiar pattern regarding sales volume from 2009.  Typically home sales peak during the summer months, but June 2010 had an unusually high number of sales.  Part of us are lead to believe that buyer and seller disconnection no longer remains and this is the cause of a lot of sales.  In addition to low mortgage rates and higher FHA conforming loan limits, this could be a positive sign for Ridgewood for the second half of the year.

If you are looking to buy or sell a home in Ridgewood, New Jersey Real Estate Guys would value an opportunity to be interviewed for the job of representing you in the housing market.  Our expertise is demonstrated by our due diligence that we provide to you every single month.  We take pride in our market analysis which is why our brokerage is #1 in our headquartered county in sales volume!  Call us today at 877-688-7582.

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May 2010 Ridgewood NJ Real Estate Roundup

As Ridgewood searches for its equilibrium, we have to point out one thing that is indicative from our charts.  Historically, June through August are very strong months for sales volume.  In 2009, the average volume of homes sold excluding June/July/August was about 10 homes per month.  In the 3 months during the summer, sales spiked to an average of almost 30 homes per month respectively.

So, what does that mean?  Well, if you are a seller, today is the day to get your home professionally cleaned, and your job is to keep it clean.  How is your house priced?  Has it been sitting on the market long?  Now is the time that you want to really make sure that you price your home aggressively.  This summer should be no different than last summer.

Good news is that prices are pretty flat since last year.  No real dramatic turn.  The average home sold for $741,854 during 2009 in Ridgewood.  So far this year, the average sales price of a home has been $742,302.  So I just peaked at the MLS.  Today is June 18, 2010 and so far this month, 25 homes have sold in Ridgewood.  Average sales price has been $752,691.  See!  This summer is heating up!  If you want to sell your home, you need to contact us NOW so we can put you in a favorable selling situation.  Buyers, now is the time to make your offers.

Below are some 2009/2010 comparison charts showing volume and average sales price for Ridgewood.  Click on images to enlarge.

Indicative of these charts is that the average price of a home sold in Ridgewood should be about $750,000 for the remainder of the year.  As expected, the summer is projected to be very active for volume.  If not, we can likely expect the average price of homes sold to dip a little bit.  Not likely in our opinion.

If you are looking to buy or sell a home in Ridgewood NJ, give Scott a call at 877-688-7582.  Let’s discuss everything there is to know about Ridgewood real estate.  If you prefer to send an e-mail, hit the CONTACT US button in the upper right of our screen here!  See you soon!

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January – February Roundup for Ridgewood Real Estate

So the first 2 months of 2010 have been the slowest since August 2009.  The last 2 years have been very tough on lending guideline changes.  There have been crazy guideline changes with conventional and FHA loans and it is indicative with the slow months of 2010 as lenders and loan officers adapt to the craziness.  So as much as I hate to report bad numbers, let’s take a look…Actually, Ridgewood faired pretty well considering the other surrounding markets.

At the moment, there are 86 Single Family Homes for sale in Ridgewood with an average listed price of $896,880.

In January, a total of 12 Homes sold in Ridgewood with an average sales price of $707,217.

In February, a total of 13 Homes sold in Ridgewood with an average sales price of $814,800.

Absorption Rate:  An absorption rate indicates the number of months it takes to sell the current inventory at the present rate of sales. As of March 1, there are 86 homes for sale in Ridgewood, NJ.  As mentioned, in February, it was reported that 13 homes sold.  This puts the rate of absorption at 6.6 Months, pretty decent considering the slow start of the year around the nation.

If you are looking to buy or sell a home in Ridgewood, please Contact Us.  We would value an opportunity to display our expertise in the market as well as our marketing plans for you.

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Happy New Year, Ridgewood!

Instead of doing a December inventory / sales report as we normally do, I figured it was a great time to do some annual comparisons to 2008.  It’s been an interesting year for sure.  Unemployment, housing declines, weak dollar, bank failures, etc.  All in all, today, January 1, I am cautiously optimistic about what 2010 is going to bring.  Don’t forget to check out our 2010 predictions for Ridgewood NJ Real Estate below.

Although there remains pressure on real estate values, with the help of government tax incentives, we should see activity continue to increase, which is all we can ask for at this time.  I predict there will be more “connection” between buyers and sellers in 2010 as the equity rallies of mid/late 2009 created a disconnection due to sellers expecting top dollar and buyers only willing to make under market bids.  So without further ado, here it goes.

All information is comprised from the NJMLS.

Annual Recaps:

2008 – In Ridgewood, NJ, 228 Single Family Homes sold with an average sales price of $823,942.

2009 - In Ridgewood, NJ, 208 Single Family Homes sold with an average sales price of $751,314.

In 2009, the number of homes sold declined by about 9% and the sales prices have dropped about 9% as well.  Considering everything, Ridgewood has survived the bulk of the housing crisis considerably well.

Let’s look at when things became a little hairy last year.

June 1 – December 31, 2008 – In Ridgewood, 154 single family homes sold during this time with an average sales price of $852,969.

June 1 – December 31, 2009 – In Ridgewood, 167 single family homes sold during this time with an average sales price of $745,449.

Data gathered during the second half of both years shows a drop in number of sales by only 8%, and a drop in average sales prices by 13%.  Still, Ridgewood seems to have survived the bulk of the recession considerably well.

Let’s now look at the month of December:

December 2008 – In Ridgewood, 13 homes sold in December ‘08 with an average sales price of $623,731.

December 2009 – In Ridgewood, 19 homes sold in December ‘09 with an average sales price of $778,850

December 2009 numbers are considerably better this year versus last year.  Interestingly, in December 2008 only 1 home sold for over $1 million.  In December, 2009, 5 homes sold for over $1 million, with one selling at $1,800,000.

All things considered, we feel that Ridgewood has great opportunity for great deals today.  As prices have softened, Ridgewood sales have gradually increased.  There are only 63 homes for sale in Ridgewood.  Using December sales figures, there is an absorption rate of 3.31 months, a very healthy rate of absorption.

Our prediction for Ridgewood real estate is that if it has not bottomed out yet, expect considerably less than an additional 5% drop.  You will see consistent trading with average sales prices bouncing back and forth with some months exceeding some and others not exceeding others.  2010 will present a great opportunity to buy in Ridgewood as unemployment in the metro area is expected to peak.  As incomes begin to stabilize and more families’ desire to utilize Ridgewood’s Blue Ribbon school system, expect solid real estate turnover with relatively stagnant values.  We predict that typical appreciation will return to Ridgewood by Q1 2011.

If you are looking for a home in Ridgewood, New Jersey Real Estate Guys would value an opportunity to interview for the job of assisting in buying and/or selling your home.  We have unique knowledge of Bergen County and have access to unlimited resources in your search for homes or your request of global exposure on the sale of your home.  Please contact us today for a consultation.  Happy New Year Ridgewood!

December 2009 Report | Ridgewood Real Estate (statitstics comprised from NewJerseyMLS and based on Single Family Homes)

Welcome to our monthly housing report update for Ridgewood, NJ.  Our apologies for being late on this report.  It is currently December 15 and my stats below will reflect real time data.

Year to date, 199 homes have sold in Ridgewood.  The average sales price of these homes was $749,393.  Both the number of homes and the sales price have declined 10% respectively during the same time period of Jan 1 – Dec 15 in 2008.  With many professionals believing that Ridgewood has hit a comfortable area of affordability, a 10% drop is quite moderate compared to national and state stats, a great sign.

There are currently 72 Single Family Homes for sale in Ridgewood, NJ.  The average listing price is $936,664.  The average number of Days on Market for each listing is 120 Days.

During the month of November, 2009, 19 homes sold in Ridgewood and 29 have gone under contract and are in Attorney Review .  The average listing price of homes sold was $757,711, and the average Sales price of homes was $738,289. The average number of Days on Market for homes sold in Wyckoff was 55 Days.

Absorption Rate:  An absorption rate indicates the number of months it takes to sell the current inventory at the present rate of sales. As of December 1, 2009, there were 72 homes for sale in Ridgewood as indicated above.  Also as mentioned above is that 19 homes sold during the month of November.  The absorption rate for Ridgewood is 3.75 months, a very good rate of absorption.

And there you have it!  The December Ridgewood Real Estate Report.  We are seeing many great deals in Bergen County recently and with the winter upon us, deals will come and go.  If you are interested in buying or selling a home in Ridgewood, or need some consultation, please do not hesitate to CONTACT US.  We would value an opportunity for an interview so that you can see what separates NJ Real Estate Guys aggressive home buying and selling strategies.

Previous article and updates below

With our monthly update on Ridgewood NJ real estate activity for sold homes, we update you today with October’s numbers.  Ridgewood, NJ remains one of the more active suburbs in Bergen County and market confidence has increased.  Market confidence could increase a bit more with the First Time Homebuyer Tax Credit extension which is now available through April 2010.  Additionally, the tax credit extension includes an increase in income level criteria, a huge benefit for Ridgewood income earners.

Year over Year numbers are down a little bit.  Year to date, there were 202 homes that sold in Ridgewood in 2008 (Jan-Oct) with an average sales price of $840,439.   In 2009 (Jan-Oct), 170 homes have sold with an average sales price of $742,692, a 12% drop since last year.  We are seeing a much clearer picture in the market and prices seem to have stabilized, indicative by higher sales volume, absorption, and homes under contract.

There are currently 111 homes for sale in Ridgewood, NJ.  The average listing price is $850,296.  There are plenty of homes at or under $800,000 for those of you looking for more affordability.  The average number of Days on Market for each listing is 114 Days.

During the month of October, 2009, a modest 21 homes sold in Ridgewood.  The average listing price of homes sold was $853,440, and the average Sales price of homes was $793,550.  Sellers are getting an average of 93% of their asking price, which means there seems to be just a tad bit of disconnect between buyers and sellers still.  The average Days on Market for homes sold in Ridgewood was 72 Days.

Absorption Rate:  An absorption rate indicates the number of months it takes to sell the current inventory at the present rate of sales. As of November 1, 2009, there were 111 homes for sale in Ridgewood as indicated above.  Also as mentioned above is that 21 homes sold during the month of October.  The absorption rate for Ridgewood based on October’s sales figures is under 5.3 months.

With the First Time Homebuyer Tax Credit extension, the recent market optimism, and macro economic data, we feel that it is a good time to buy real estate in Ridgewood.

If you are interested in buying or selling a home in Ridgewood, give us a call and interview us. We would value an opportunity to earn your business and rest assured that as a buyer we will maximize your dollar on real estate. As a seller, you have our full service of global and local marketing, Free CMA report for your home, and strategic plans to sell your home within a comfortable timeline. Contact NJREG today for a free consultation!

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August 2009 Report

During the course of the summer, Ridgewood NJ real estate activity has been above average.With prices lower than what they were a year ago today, Ridgewood did not experience the significant price adjustments that many other areas of the state has experienced.  OK, so my title is misleading.  The 3rd quarter of the  year is not up yet, but I wanted to write about something today, and I figured I’d do the piece on Ridgewood homes for sale, homes sold, etc.  Oh, and by the way, if you haven’t heard about Graydon Pool’s new proposed plans, you should check it out at The Preserve Graydon Coalition.   Although I do not personally live in Ridgewood, for those of you that are looking to buy a home, it is something that you may want to keep an open ear to.  So without further ado…

Our numbers are based off of comprised data from the NJMLS and GSMLS and our figures are based on June 1 thru September 1, 2009 dates.

If you would like to search for any and all homes for sale in Ridgewood or all of Bergen County, see our searching tool over there —————–>>

As of today, September 8, 2009, there are 112 Active Listings in Ridgewood Village, New Jersey.  The average listing price is $981,358 with 86 of those active listings being priced UNDER the average.  The average Days on Market for active listings is 114 Days.

If we go back 60  days from today, 35 homes have went Under Contract.  The average home to go under contract was $635,925.  Please note that the actual average may go slightly up or down upon closings.  Actual agreed upon prices are not public record until closing.  The average Days on Market for these homes was 78 Days.  The average Under Contract price is indicative that the lower price homes in Ridgewood are selling a bit quicker than the homes above average.  This may have something to do with the conforming loan limits for FHA financing.  Bergen County has a maximum FHA loan amount of $729,750 for single family homes.

(For some reason my GSMLS just crapped out on me…Doesn’t matter though.  Almost 95% of the data for Ridgewood is from the NJMLS anyway)  Per the NJMLS, the (dominant service in Ridgewood), 91 homes have sold since June 1, 2009.  The average sales price of homes for sale in Ridgewood, NJ was $779,011.  Of those 91 homes, only 13 of them were sold for over $1 million.  Also, 52 of the 91 homes were sold within FHA conforming loan limits (over 57%).  Although it is tough to say how many residents chose to go with FHA financing, we just wanted to point this out.

As of September and as mentioned above, there are 112 active listings of homes for sale.  During the month of August, 35 homes have sold.  The absorption rate for Ridgewood New Jersey homes and real estate is 3.2 months.  The absorption rate is calculated by taking the number of Active Listings and dividing it by the number of homes sold the most recent previous month.  A 3.2 month supply of inventory based on Absorption Rate is indicative of an above average real estate market.

If you are interested in viewing a full report of Ridgewood, NJ homes for sale or looking for a consultation about local homes for sale, please Contact Scott, realtor, and founder of New Jersey Real Estate Guys, and he will be more than happy to assist in your homebuying interests for Ridgewood, NJ or any other part of Bergen County.  For some additional online information about Ridgewood Village, please see our Ridgewood NJ real estate page.

Real Estate Report | Inventory, Absorption, and Other News

In this end of June report, we are going to analyze the housing market in Glen Ridge (single family homes only).  Glen Ridge happens to be one of my favorite most expensive markets in the country!  Living in Montclair requires me to drive in and through Glen Ridge on a daily basis and unless it’s raining, you can’t help but think that Glen Ridge is anything short of majestic.  If you are looking for some of the best schools in NJ, look no further, however expect to pay for it in your property taxes!!

To view all homes for sale in Glen Ridge, Click Here and be sure to schedule an appointment for an exlusive showing.

So far this year, the Glen Ridge real estate market is following a similar pattern to 2009.  As summer heats up, so does sales volume.  Sales volume for the year is expected to peak in July and it will be interesting to see what it does to prices.  The average price of a home sold has been right around $600,000 in Glen Ridge and we see this as bouncing along the bottom. We like prices here for the remainder of the year, however the tax office needs to be willing to accept tax appeals.  If that is done, then we will see some more aggressive sellers and likely more buyers.

Let’s take a look at some numbers as of July 1.  Numbers will reflect June figures:

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Due to Glen Ridge’s impressive rate of absorption, it looks like there is a good connection between buyers and sellers, which moves sales volume.  Although prices are down from peak, this is a good sign for the town.  Property taxes have always been higher in Glen Ridge than anywhere else in Essex County so it’s not like this is a new phenomenon.  Homes will still continue to sell in the small town despite them.

If you would like to preview our month over month and year over year statistic report including useful charts CLICK HERE.

If you are a buyer or seller for Glen Ridge real estate, I would value an opportunity for an interview to represent you.  As shown, we do an extensive amount of due diligence and can provide useful tools and consulting to get your real estate needs taken care of efficiently and financially favorable.  You can e-mail us or call me direct at 877-688-7582.  I look forward to hearing from you.

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2009 Recap | 2010 Real Estate Predictions

Happy New Year, Glen Ridge!

I figured I’d take a look at some comparisons from the last 2 years and give you a bold prediction as to what I see happening with Glen Ridge real estate in 2010.  As most of you know, I am a product of Essex County and although I never lived in Glen Ridge, I was RIGHT on the border, living right off of Maolis Ave in Bloomfield, right at the cutoff.  Anyway, I grew up AROUND Glen Ridge and couldn’t speak anymore highly of the town.  You have to see to believe.  You won’t regret it!

Before I forget, CLICK HERE to browse all Glen Ridge homes for sale.  If you are interested in setting up a showing appointment, please contact us and we will get all pertinent information and set up a convenient time for you.

2008

• 115 Homes sold in Glen Ridge in 2008
• The average price of a home sold was $591,714

2009

• 83 Homes sold in Glen Ridge in 2009
• The average price of a home sold was $541,264

The statistics show that there was a 27.9% drop in sales volume in 2009 when compared to 2008.

The statistics also show that there was a drop of 8.6% in the average price of homes that sold.

Considering the circumstances, this is actually very good in comparison to other sections of NJ.

Most interesting:

• From January through June of 2009, there were 31 homes sold in Glen Ridge with an average selling price of $476,606
• From July 1 through Dec 31, 2009, there were 52 homes sold in Glen Ridge with an average selling price of $579,810.

The second half of 2009 outperformed the first half by 59% in sales volume and the average price of a home that sold rose by nearly 18%.

2010 Prediction

It is clear that Glen Ridge survived the bulk of the housing crisis.  There are currently only 17 homes for sale in Glen Ridge.  Due to its Blue Ribbon school system, expect sales volume to peak during the summer months as families look to situate themselves prior to the beginning of the school year.

Note: Glen Ridge is the only housing market that we report on that we anticipate a higher rate of absorption and higher overall prices/values by the end of 2010.  We expect a slow, but favorable trend in local economic/housing recovery.

It is the opinion of New Jersey Real Estate Guys that if you are looking into purchasing a home in Glen Ridge, 2010 will be favorable conditions to do so.  Contact Us for a consultation or showing appointment on some beautiful homes for sale.

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December 2009 Report | Glen Ridge Homes for sale, homes sold, etc (statitstics comprised from GSMLS and based on Single Family Homes)

Welcome to our monthly housing report update for Glen Ridge, NJ.  Glen Ridge is one of the wealthiest individual towns in New Jersey.  It’s blue ribbon and nationally reknown public school system is one of the reasons for its unique real estate tax rate, one of the highest in the state, however well worth it if you value overall location, curb side appeal, and your children’s scholastics.

Year over Year Sales numbers have been rather consistent with last years and we did not see a drastic drop in home values for Glen Ridge real estate from the year before.  Year to date, 71 homes sold in Glen Ridge NJ.  The average sales price this year has been $600,249, with a low sales price of $189,900 and a high of $1,489,000.

There are currently only 15 Single Family Homes for sale in Glen Ridge, NJ.  The average listing price is $582,626.  The average number of Days on Market for each listing is 103 Days.

During the month of November, 2009, 9 homes sold in Glen Ridge and 5 have gone under contract and are in Attorney Review .  The average listing price of homes sold was $623,422, and the average Sales price of homes was $624,444.  Sellers are getting an average of OVER 100% of their asking price.  This is indicative of a healthy and competetive real estate market. The average Days on Market for homes sold in Glen Ridge was 94 Days.

Absorption Rate:  An absorption rate indicates the number of months it takes to sell the current inventory at the present rate of sales. As of December 1, 2009, there were 15 homes for sale in Glen Ridge, as indicated above.  Also as mentioned above is that 9 homes sold during the month of November.  The absorption rate for Glen Ridge is less than 2 months, a HUGE positive sign for the housing market.

Comparing Glen Ridge Real Estate Taxes:  The housing/real estate tax rate for Glen Ridge, NJ is 2.687.  A house that sold in November for $928,000 on Oxford St has an annual tax bill of $23,049.  The assessed value of this particular home (taxable amount) is currently $857,800.

A home that sold in November for $570,000 has an annual tax bill of $17,658, and has an assessed value of $657,200.

And there you have it!  The December 1 Glen Ridge Real Estate Report.  As you can see, Glen Ridge NJ real estate is quite healthy.  There is a very low inventory rate and healthy monthly sales which creates high turnover and absorption.  If you are looking into purchasing or selling a home in Glen Ridge, NJ Real Estate Guys would value an opportunity to interview for the job of helping you find or sell your home.

Previous Article:

If you are in the market for buying a home in Essex County, chances are you have toured Glen Ridge.  Glen Ridge NJ is an upscale real estate town with tremendous appeal.  One of the most desirable qualities a family recognizes is that Glen Ridge has one of the top ranked school systems in the entire state.  OK, OK… I know you know everything about Glen Ridge.  Let’s look at the reason why you are reading this post.  Our data is going to be comprised of housing data from the GSMLS and NJMLS and we are using the dates from June 1, 2009 to September 1, 2009.

Since last year at about this time, the average price for homes sold dropped from $507,000 down to $486,500, a measly 4%. Although this may be deceiving because the higher priced real estate above $1 million have dropped nearly 15% since this time last year.  The lower end of the market seems to be holding up and current market conditions are indicative that we may see a stagnation in pricing on entry level homes in Glen Ridge.  Stagnation, I use delicately.  I don’t see a further drop, but I don’t see appreciation for the next year.  We’ll see where next year’s inflation takes us.

There are currently 33 homes for sale in Glen Ridge, NJ, of which only 2 of them are priced over $1 million, a significant difference from last year when nearly a dozen homes were listed for over a million.  This does not mean those homes have since sold.  It means sellers are sick of wasting their time and will wait out the market a little longer.  That, or they are becoming more realistic on their asking price.

Be sure to visit our exclusive MLS search feed for all  Glen Ridge NJ Homes for sale

The lowest priced listing on the MLS today is a $99,000, a small, yet cute 1 bedroom apartment (My opinion a perfect investment to rent to an MSU student).  The highest listing today is $1,499,000, a huge victorian home on Douglas Rd.  Actually, there are 3 active listings on the MLS on Douglas road.  They are the 3 highest in the MLS, priced at $919,000, $1.45M and $1.499M. (2 Victorians and 1 Tudor).  The average price of a home today in Glen Ridge is $632,637.  The average Days On Market for active listings is 52 days.

From June 1, 2009 thru September 1, 2009, ten homes went under contract in Glen Ridge.  The lowest priced home to be put into pending status was $239,000 on Carteret Street.  The highest priced home that went under contract was $979,000.  Keep in mind that until all of these close, there is no way of telling what the actual agreed upon sale/purchase price was as those figures are not disclosed publicly until closing.  The average price for a home in Glen Ridge put under contract was $555,364.  The nice thing is that most of these homes under contract qualify for FHA mortgage loans.  The limit for FHA financing for single family homes in Glen Ridge and all of Essex County is $729,750.   Contact us to discuss FHA options for buying a home with only 3.5% down payment.

From 6/1/09 to 9/1/09, 37 homes have sold in Glen Ridge.  The lowest price home to sell was $119,000, a small apartment on Bloomfield Ave.  The highest closing price during this time was $1,400,000.  The average price of homes sold in Glen Ridge was $567,530.  A telling sign that the higher end home is making a comeback in Glen Ridge is that the actual sale price of $1,400,000 was only listed for $1,395,000.  Average days on the market for homes sold was 52 days, which is below the state average.

Absorption Rate:  There are currently 33 homes for sale in Glen Ridge.  Over the last 30 days 7 homes have SOLD.  Absorption rate is calculated by taking the number of homes for sale (33) and dividing by homes sold the previous month (7).  As of today, the absorption rate is 4.7 months.  This means that if no other homes come on the market for sale, it would take only 4.7 months at the current rate of absorption to sell out of Glen Ridge housing inventory.  This is WAY lower than the national average, a great sign for Glen Ridge real estate.  It is a good sign for sellers and a better sign for buyers looking to make a decision.

Overall, it looks like Glen Ridge has survived the recession and is looking to rebound.  Prices are remaining consistent and new assessed values have been publicized, which indicates lower real estate taxes 

If you are shopping for a home in Glen Ridge or any Glen Ridge NJ real estate, be sure to contact Scott with New Jersey Real Estate Guys.  You can call Scott @ 877-688-7582, or you can simply e-mail by clicking here.  As you can see from this article, we do not just dive into the market and buy/sell anything on the MLS.  We do extensive macroeconomic reports which helps us/you in our negotiation to achieve a bargain on your future dream home.  Our goal is your satisfaction.

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.

Henley on Hudson

View Henley on Hudson For Sale

Why New Jersey Real Estate Guys is most experienced to assist your purchase or rental at Henley on Hudson

Henley on Hudson’s European-inspired architecture is intimate and accented with beautiful English gardens.  The four story luxry residences, known as The Brownstones offer private elevators, heated 2 car garages, private screening rooms, two-zone heating, and floor to ceiling tiled master bathrooms. 

Offering a mix of condos, penthouses, and four-story brownstones, these majestic residences are sought by homeowners with high needs and lush design.  The Brownstones consist of 3 or 4 bedroom homes and include a grand circular stairway, a garden terrace, and the most upscale interior and exterior specifications one would want in the home of their dreams. 

Condos and penthouses have similar attractions, yet different floorplans.  If you are looking for a specific criteria, please contact NJREG today so that we may furnish you with the floorplans you need. 

Most homes come with sweeping floorplans with tons of natural light, views of New York City, and a heartwarming fireplace.  Some interior specifications include brazilian cherry wood floors, Viking appliances, granite, marble and much more.

Floorplans at Henley on Hudson range from just over 1,400 square feet to over 3,700 square feet.  Today’s average price per square foot ranges from the low to upper $500 / square foot.  Most we are seeing today average $540 per square.  Monthly HOA dues vary from $650 to $1,300 per month, depending on floorplan.

Real Estate Amenities include Fitness Center, Health Club, Playground, Intercom, Fireplace, Swimming Pool, Game Room, 24 hour security, and much more.

If you are interested in Henley on Hudson condos, penthouse, or brownstones for sale, New Jersey Real Estate Guys will be happy to provide you with a one on one exclusive tour and work with you in negotiating the home of your dreams.  Call us today at 877-688-7582 or e-mail us today!  We would value an opportunity to earn your business.

In addition to its superior residential architecture, Maxwell Place provides a wide variety of retail with lighted and navigable walking paths.  Enjoy being only steps from King’s grocery, Wine & Liquor, CVS, Lua Lounge & Restaurant, and many other sites that you can consider as “on site”. 

Maxwell Place Condos for Sale & Rentals

Why NJREG is most experienced to assist you in all of your real estate needs at Maxwell Place

Maxwell Place offers some of the finest amenities including a rooftop pool/hot tub, fitness and health center, rooftop courtyard, and Club Maxwell, an exclusive residence club.  All condos consist of luxury studios, 1-, 2-, and 3- bedroom condominiums and townhomes.  Maxwell Place also has executive rentals available.

In addition to a luxury living quarters, enjoy the convenience to all that Hoboken has to offer with great culture, views, entertainment, all the cocktails and food you can find all combined with exclusive waterfront living.

NEW!! Maxwell Place Townhomes .  Click link to forward to information page for the new luxury Townhomes adjacent to 1125 Maxwell.

For more information and to set  up an exclusive one on one appointment with a NJREG representative, please call us 877-688-7582 or send us an e-mail.  We would value an opportunity to earn your business.

Jersey City, NJ

View all Active Jersey City real estate for sale

Downtown Jersey City:  Newport, Paulus Hook, and Exchange Place

Historic Downtown:  Hamilton Park, Grove Street, Harsimus Cove, and Van Vorst Park

The Heights:  Western Slope, and Central Avenue Shopping Area.

Journal Square:  West Bergen/Lincoln Park and the Hudson Mall

Bergen Lafayette:  Communipaw Avenue, the artery between West Side with Liberty State Park, Greenville, which features Port Liberte and other upscale residentail neighborhoods. 

Downtown Jersey City has many attractive areas of real estate.  Newport and Exchange Place are redeveloped waterfront areas consisting mostly of high rise residential buildings, hotels, retail, and office buildings.  Newport is a planned mixed use community, made up of residential high rises, condo buildings, office buildings (JP Morgan Chase Building), a marina, schools, and plenty of hotels, restaurants, fine dining, nightlife, and other entertainment.  Located only a 5 minute light rail trip to downtown Hoboken, residents can live away from the nightlife density in Hoboken to live in a quieter residential community in Newport.  Don’t forget about the Newport Center Mall, Movie Theater, PATH station, and many other convenient locations. 

Exchange Place, which was the first part of the area to redevelop, built over the old Jersey City Penn Station, is now full of new real estate and is New Jersey’s side of busy business.

Journal Square is in the midst of real estate rehabilitation.  Journal Square is going to be the next big area of Jersey City.  Redevelopment plans for residential towers and retail should relate to the same redevelopment as to what occurred over in Newport.  To the north of the square on Newark Avenue lies India Square, where you can find over 100 Indian ran businesses.  This area is one of the largest Indian neighborhoods in all of New Jersey.  Saint Peter’s College  is located in this section, just 10 blocks south of Journal Square in the McGinley Square section of Jersey City. 

The West Bergen of Jersey City houses very diverse neighborhoods including Lincoln Park / West Bergen as well as the Marion Section, Society Hill, and New Jersey City University.  On the West Side you will find many different ethnic businesses from Filipino to Indian to West Indian which line the West Side Avenue. 

If you are interested in relocation or real estate related material for any area of Jersey City, please contact us for a consultation or relocation package.  We have plenty of additonal information, including the areas of The Heights, Bergen-Lafayette, and Greenville.

Wyckoff New Jersey

Wyckoff has preserved a feel of its pastime rural settings as properties are large and the landscape is nicely wooded.  When searching for Wyckoff real estate, you will certainly find traditional colonial homes, historic farmhouses, oversized lots, and a large selection of newer homes, making Wyckoff, NJ a lovely place to live.  There is a total of five Wyckoff public schools.  High School students attend Ramapo-Indian Hills Regional High School.  The recreation programs are top notch.  Sports such as soccer, baseball, football, basketball, tennis, carry over into the summer where there is a growing summer program for our local athletes.  There is local and diverse shopping in Wyckoff, and don’t forget the Garden State Plaza Mall only minutes away.

View all Wyckoff Homes For Sale

Don’t forget to see our monthly updates on the Wyckoff real estate market.

If you are considering buying or selling property in Wyckoff, you have come to the right place.  New Jersey Real Estate Guys has a strong marketing arm and relationship with some of Bergen County’s top agents so that we can help fascilitate the home of your dreams.

We offer all Wyckoff realtors services for buyers, sellers, and investors.  Please contact us at your soonest convenience to find out more about Wyckoff.  Please CLICK HERE to search the MLS on your own.  If the link is not working correctly, please contact us so that we may get you a list of available homes within your budget.

We understand that home searches begin online.  You need a professional to introduce you to the area and give you advice on the area so that you can make the best educated decision in purchasing your home.  Call New Jersey Real Estate Guys if you are looking for Wyckoff NJ homes for sale!

“Ridgewood, NJ is one of those suburban towns that seem just perfect, a leafy village with a self-sufficient downtown, neighborhoods of wonderful old houses, a low crime rate, no industry, one of North Jersey’s best school systems, and a great recreation program.” –Nan Goldberg Author, “Choosing a Hometown in NJ”

Browse Ridgewood NJ Homes for sale

Ridgewood, NJ is almost always in NJ Monthly’s Top 10% New Jersey Towns in overall rankings.  With the company of towns such as Basking Ridge, Saddle River, Allendale, and many more, it is not difficult to justify this accolade.  Ridgewood is known for its beautiful homes, lush landscape, central location, trendy downtown, and to many as the most important aspect is their pristine school system.  A Blue Ribbon award school system, Ridgewood’s education system was ranked #7 best out of 316 schools in New Jersey’s Monthly Magazine 2008 report, in fact, Ridgewood High School has been ranked #8 best public high school in the entire Garden State.

Ridgewood NJ real estate provides a great amount of beautiful colonial homes in addition to a touch of other magnificant architecture.  The median price of homes for sale will hover around $700,000 albeit, homes may be purchased for far less and far more.

The reasons I chose to purchase my home for my family in Ridgewood was because of the school system, trendy downtown, the millions of kid/adult activities available, and most importantly (to me) was the convenience to New York City which is where I work 3 days a week.  We live in a super quiet and peaceful neighborhood, yet only a short few minutes to Rt. 17 where we enjoy the Garden State Plaza Mall, shopping, dining, and chic entertainment.  C. Nicoletti

If you interested in viewing all of the available Ridgewood NJ homes for sale, or are thinking of buying/selling,  please contact us for a free report or Click Here to browse the MLS yourself.  Be sure to call New Jersey Real Estate Guys for your convenient showing or for additional information.  We service all of Bergen County and offer ALL realtors and Ridgewood relocation services.

CLICK HERE to view an informative map of the beautiful downtown Ridgewood Village.  Be sure to use the zoom in/out keys to help you visualize the map.

CLICK HERE for Ridgewood, NJ real estate relocation and demographics

Below is a chart of the sales activity from last year.  Click twice to enlarge.

All information below is provided by City-Data.com

Ridgewood, NJ Population in July 2008: 24,163. Population change since 2000: -3.1%
Males: 11,629         48.1% of Population
Females: 12,534     51.9% of Population

Estimated median household income for Ridgewood, New Jersey in 2007: $128,648 (it was $104,286 in 2000)

Ridgewood:	$128,648
New Jersey:	$67,035

Estimated per capita income for Ridgewood, NJ in 2007: $63,689

Ridgewood:	$63,689
New Jersey:	$33,832

Estimated median house or condo value for Ridgewood Village, NJ  in 2007: $780,816 (it was $382,000 in 2000)

Ridgewood:	$780,816
New Jersey:	$372,300

Ridgewood, NJ Real Estate and Homes

Mean prices in 2007: All housing units: $847,396; Detached houses: $856,915; Townhouses or other attached units: $678,695; In 2-unit structures: $596,088; In 5-or-more-unit structures: $447,011; Mobile homes: $306,818.  The most recent analysis based on a realtors Comparative Market Analysis shows that price medians have declined from the above by 8% in Ridgewood, largely the result of poor economic conditions.

Races in Ridgewood:

For population 25 years and over in Ridgewood

• High school or higher: 95.9%
• Bachelor’s degree or higher: 66.7%
• Graduate or professional degree: 29.0%
• Unemployed: 3.1%
• Mean travel time to work: 34.6 minutes

According to our research there were no registered sex offenders living in this village (Ridgewood) in early 2007.

Median real estate property taxes paid for housing units in Ridgewood in 2000:

Ridgewood:	2.0% ($7,800)
New Jersey:	2.4% ($4,047)

Colleges/universities with over 2000 students nearest to Ridgewood, NJ:

• BERGEN COMMUNITY COLLEGE (about 4 miles; PARAMUS, NJ; Full-time enrollment: 7,733)
• PASSAIC COUNTY COMMUNITY COLLEGE (about 6 miles; PATERSON, NJ; FT enrollment: 2,452)
• RAMAPO COLLEGE OF NEW JERSEY (about 6 miles; MAHWAH, NJ; FT enrollment: 4,076)
• WILLIAM PATERSON UNIVERSITY OF NEW JERSEY (about 8 miles; WAYNE, NJ; FT enrollment: 8,017)
• FAIRLEIGH DICKINSON UNIVERSITY-ALL CAMPUSES (about 9 miles; TEANECK, NJ; FT enrollment: 6,482)
• ROCKLAND COMMUNITY COLLEGE (about 11 miles; SUFFERN, NY; FT enrollment: 4,409)
• MONTCLAIR STATE UNIVERSITY (about 11 miles; UPPER MONTCLAIR, NJ; FT enrollment: 10,226)

Ridgewood compared to New Jersey state average

• Median household income significantly above state average.
• Median house value significantly above state average.
• Black race population percentage above state average.
• Hispanic race population percentage above state average.
• Foreign-born population percentage significantly above state average.
• Renting percentage below state average.
• Number of rooms per house above state average.
• Percentage of population with a bachelor’s degree or higher significantly above state average

All demographic information has been provided by City-Data.com

If you are looking to relocate to Cedar Grove, what a great decision!  Due to its family-oriented atmosphere, several parks and recreation areas within the township, Cedar Grove is an area of Essex County where anyone can call home

Be sure to visit our exclusive search for all Cedar Grove NJ homes for sale and view all active listings available on the MLS.  Please be sure to select GARDEN STATE MLS in the dropdown menu at the top of the search page.

The local high school, Cedar Grove H.S. has a quarter mile track in the rear of the property for running and walking.  There are also sports fields for the local high schools athletic programs.  For full scholastic details please visit the Cedar Grove School District website. 

There are currently around 58 homes on the market for sale in Cedar Grove.  The median asking price of a home in Cedar Grove is $579,999 as of September, 2009.  If you drive the area, you will notice that Colonial homes are the dominating design for architecture. 

If you are looking to purchase a home in Cedar Grove or would like any additional details on property listings, please contact us and we will be glad and immediate to assist in your real estate needs.  New Jersey Real Estate Guys is a local company and we invest significant resources into our website to better assist your needs.  We would value an opportunity to earn your business.

Previously:

On August 5, 2009, there will be an auction on several 2 bedroom units at 517 Jackson St in Hoboken, NJ.  CLICK HERE to see some pictures.  Opening bid will be about $150,000.

Spacious and bright, extra large floor plans, hardwood floors, many residences with 9 ft. floor to ceiling windows and balconies. Gourmet kitchens with GE Stainless Steel appliances and custom cabinetry. Washer/dryer, elevator and indoor parking. Convenient access to Manhattan via the Lincoln Tunnel, PATH trains and ferries to New York. Walking distance to the exciting Hoboken lifestyle. 

Also available via auction is 1300 Park in Hoboken.  These are 2 bedroom units and the opening bid will likely be $150,000.  Originally priced from $580,000 to $600,000, these condos hold tremendous value if purchased right.  CLICK HERE for pictures.  8- Two and three bedroom units will be sold with 3 selling no matter what the final bid may be!

Open House viewings are available.  Please contact us to set an appointment.  We can also assist in auction if you are not experienced in real estate auctions in Hoboken.  Remember, a 5% deposit will be required at closing bid and the balance in total will be due by the end of business day.