REMEMBER: Cell Phone Numbers Go Public this month.
REMINDER…..  all cell phone numbers are being released to telemarketing companies and you will start to receive sales calls.
…. YOU WILL BE CHARGED FOR THESE CALLS if you have a LIMITED airtime package
To prevent this, call the following number from your cell phone:     888-382-1222  888-382-1222 .
It is the National [...]

Summit NJ’s own native son Tom Heller movie “Precious: Based on the Novel ‘Push’ by Sapphire.” is nominated for an Oscar. Continue reading …
MArtha McDonnell
Lois Schneider Realtor / Summit

Best to buy before new FHA guidelines take effect 
By Octavio Nuiry, Staff Writer RealtyTrac.com 
Starting in early summer, the Federal Housing Administration is tightening lending standards in an effort to bolster its dwindling reserves. The new lending standards will make it tougher for some prospective buyers to purchase a home by requiring a higher down payment [...]

Current housing trends, highlighted in separate surveys conducted by the Washington-based trade association and Better Homes and Gardens, released in January at the International Builders’ Show in Las Vegas, showed that consumers are not interested in large ineffecient homes decked out with high-end amenities. Less is More!  What is out: large outdoor kitchens, media rooms and sunrooms. What is in:  walk-in [...]

PMI sees bottom in home prices 

A new study from PMI Mortgage Insurance Co. suggests home prices have found their bottom.  The company’s analysis shows that by almost all measures, residential property values began stabilizing considerably during the second and third quarters of last year – and monthly data through November confirms that this stabilization [...]

Overcrowding at Glenwood Elmemantary School. Millburn Board of Education considering sending 61 Glenwood students to Deerfield Elemantary, also effecting 2 bus lines.
Click here to view redistricting map.
Martha McDonnell
Lois Schneider Realtor

Click here to view both Chatham Boro & Chatham Townships 2008 vs 2009 sales reults:
2009 Q4 YoY Chatham Boro
2009 Q4 YoY Chatham Township

Click here to view 2008 vs 2009 sales reults:
2009 Q4 YoY New Providence
Martha McDonnell
Lois Schneider Realtor

Click here to see 2009 vs 2008 statistics:
2009 Q4 YoY Berkeley Heights
Martha McDonnell
Lois Schneider Realtor

On February 1, 2010, President Obama released his 2011 budget proposal recommending that the value of the Mortgage Interest Deduction (MID) for upper income taxpayers be limited to the 28% bracket. The provision modifies the MID, as it plans to reduce the amount of mortgage deductibility on families earning over $250,000 (AGI) and on single tax payers [...]

2008 Sales vs 2009
2009 Q4 YoY Summit

James Hagerty, covering the real estate & mortgage industries for the WSJ, just released his quarterly housing report.
Today, we look at housing thru various lenses:
1)     Consumer confidence: we continue to receive mixed signals from different media portals. Buyers are on and off the fence , however, when they see a good value ( price, condition and [...]

A wonderful venue to get up to date home improvement ideas and solutions for home and garden.  A short drive to Somerset (off of 287)  at the Garden State Convention Center. 20th Annual Garden State Home Show.
Details: 2/5 thru 2/7

Hours:

Friday
1pm – 9pm

Saturday
11am-9pm

Sunday
11am – 5pm

Admission:

Adults
$9.00

Kids (12- 17)
$6.00

Children 11 & Under
Free

Seniors *
$8.00

Fourth Quarters Results 2008 Sales VS 2009 Sales

2008 Sales VS 2009
Summit, Millburn, Chatham(s) New Providence & Berkeley Heights:

Lois Schneider Realtors Listing & Sales Activity for all of 2009 in Summit:
2009 LSR Listings and Sales Closed by Listing Price Range

USNews & World Report published its Top High School Report in thier December 2009  issue. Six area high schools awarded Silver Level:
Summit                                         
New Providence
Millburn / Short HIlls
Chatham High School
Madison ( Harding Township)
Basking Ridge
Criteria for Medals

Gold Medal:
Top 100 schools nationally based on the College Readiness Index
Silver Medal:
all other schools with a college readiness index of [...]

Housing Absorption Rate
The formula used to calculate supply vs. demand is the number of homes actively on the market in relationship to the number of sold units; this number represents the number of months it would take to move, sell what is currently on the market. Case-Shiller Index represent that when inventories fall blow 8 [...]

How we have changes! Our focus today is on better quality, less and products with a conscience! Have fun looking threw this new issue!
Martha McDonnell
Lois Schneider Realtor

When considering a new position in a new state it’s important to know what the cost of living is compared to where you are coming from. Sometimes that nice salary increased is dwarfed by housing, insurance, medical and other cost of living factors. ACCRA, also known as C2ER: Council for Community Economic Research Cost of Living Index [...]

Do you keep an inventory of your homes content? Many people do not! In the event of a fire, flood or any other catastrophe, one could find themselves defending the content and the value of replaceable and irreplaceable items in the home. Keeping a log with photos, descriptions and proof of value will serve you [...]

Do You Know Your Insurance C.L.U.E.® Score?
Like a credit score, when applying for home owners insurance ( hazard & content), the carrier is going to determine your risk level, as will a future employer. A variety of entities are applied to a statistical model that compiles the score. They will look at all three credit [...]

Closed Sales: Summit
December 1st thru December 31, 2009

Address
List Price
Style
RM
BR
TBT
Gar
BMT
YrB
Closed Date
Sold Price
DOM
Price change

133* Summit 
$199,900
One
4 
2 
1 
0 
Yes 
1924 
12/02/2009
$169,000
615 
-15%

42* ASCOT  
$569,000
Split
9 
3 
2 
1 
Yes 
1960 
12/18/2009
$416,000
243 
-26%

36 Miele Place 
$450,000
Cape
7 
3 
2 
0 
Yes 
1953 
12/23/2009
$425,000
147 
-5%

11* WILLIAM ST* 
$529,000
Colonial 
7 
3 
1.1 
1 
Yes 
1910 
12/17/2009
$469,000
154
-20%

81 West End Avenue 
$549,000
Cape 
10 
4 
3 
1 
Yes 
1956 
12/21/2009
$550,000
86 
000

107 Fernwood  
$1,020,000
Colonial 
7 
4 
2 
2 
Yes 
9999 
12/17/2009
$576,250
373 
-44%

1* Euclid Ave Unit 6-C 
$605,000
Hi-Rise,
5 
2 
2 
1 
Yes 
1975 
12/17/2009
$590,000
356 
-2%

218 MOUNTAIN AVE
$619,000
Ranch 
7 
3 
2.1 
2 
Yes 
1961 
12/29/2009
$590,000
68 
-4%

9* BEEKMAN TER* 
$749,000
Colonial 
8 
4 
2.1 
2 
Yes 
1920 
12/09/2009
$749,000
7 
000

22 Oak Ridge Avenue 
$799,900
Colonial, Victorian 
8 
4 
1.1 
1 
Yes 
1900 
12/10/2009
$755,000
135 
-6%

35 Blackburn Place 
$950,000
Ranch 
9 
4 
3.1 
2 
Yes 
1953 
12/18/2009
$950,000
3 
000

11 CANOE BROOK PKWY 
$1,045,000
Colonial 
8 
4 
3.1 
2 
Yes 
2009 
12/11/2009
$995,000
43 
-5%

70* HOBART  
$1,295,000
Colonial 
14 
6 
4.1 
3 
Yes 
1920 
12/11/2009
$1,159,111
93 
-11%

54* OX BOW LN* 
$1,675,000
Colonial 
10 
5 
3.1 
2 
Yes 
1965 
12/08/2009
$975,000
530
-42%

78 HOBART AVE 
$1,395,000
Colonial 
13 
6 
3.1 
2 
Yes 
1924 
12/16/2009
$1,150,000
226 
-18%

25 ROBIN HOOD  
$2,495,000
Colonial 
15 
5 
4.1 
2 
Yes 
1950 
12/15/2009
$1,299,000
651 
-48%

55* ROTARY DR* 
$1,380,000
Custom
9 
4 
4.1 
2 
Yes 
1950 
12/21/2009
$1,330,000
48 
-4%

80 HILLCREST  
$1,695,000
Colonial 
11 
5 
4 
2 
Yes 
1930 
12/10/2009
$1,375,000
225 
-19%

8* PEMBROKE RD* 
$1,895,000
 Custom 
11 
5 
4.1 
3 
Yes 
2008 
12/21/2009
$1,825,000
192 
-4%

51 Sunset Drive 
$3,100,000
Colonial,
15 
6 
6.1 
3 
Yes 
2008 
12/14/2009
$2,440,000
495
-22%

290* SUMMIT  
$4,550,000
Tudor 
13 
6 
6.1 
3 
Yes 
1929 
12/15/2009
$2,200,000
508 
-52%

77 HILLCREST AVE 
$3,325,000
Colonial 
15 
5 
5.2 
4 
Yes 
1923 
12/23/2009
$3,025,000
30 
-10%

TOTAL
$1,332.00
 
 
 
 
 
 
 
 
$1,092.00
142
-22% correction

The fedreal goverment will probably stop subsidizing loans over $417,000 after March 31, 2010 which has kept loans up to $729,000 about 1% lower in high cost areas: NJ, NY & CT.
Martha McDonnell
Lois Schneider Realtor

With more and more people considering small & medium size renovation projects, the focus today is to spend a little more on sound insulation practices, installing high efficiency windows, utilizing sustainable materials and the like. In doing research many are lured by potential tax credits and have been disappointed when they learn that tax credits [...]

With many people staying in their homes longer and as trends come and go, I always refer to Remodeling Magazines  annual Cost VS Value Report. Quiet often home buyers will purchase a home with a list of improvements in mind that may not add to the value of the home at all. In reading this years report, [...]

New Jersey is known to have the highest property taxes in the nation as outlined in this weeks New York Times article “The Hottest Topics in Home Sales”. So, why do so many people relocating to the Tri-State area choose New Jersey? Our public schools rank tops in the Nation.
Newsweek’s June 2009 article “Top in the Class” identified [...]

Here are the some guidelines:
Most towns on the Midtown Direct & Gladstone train lines ONLY offer resident permit parking, except for Morristown & Summit; Convent Station offers non-resident parking for Harding Township residents only. New Jersey Transit List of Parking Facilities.
Chatham Township does not offer resident parking, there are a few metered spots at the [...]

You bet!
Click here to view  3 month, 1 year, 3 year and 30 year trends. For more infomation and analysis, please visit www.Mortgage-X.com

National Assocaition of Realtor released today the 2009 Home Buyer & Seller Profile, click here to preview, the file may take aup to 60 seconds to download due to it’s size.
Please keep in mind these are national statistics and buyer & seller profiles differ considerable for market to market!!
Feel free to forward your questions to me!
Martha [...]