Franklin Township, NJ Real Estate News

By Eugene Jones
(Weichert Realtors)
Somerset, NJ market analysis for May 2008 Compared to April 2008         May:                                                                   April: Active Listings = 614                                                 622                                            Average LP = $ 410,849                                 $ 409,797 New Listings    = 112                                                 129             Average LP = $ 388,167                                 $ 373,616 Under Contract= 57                                                   60             Average LP = $ 347,626                                 $ 365,622 Sold Listings    = 34                                                    49             Average SP = $ 360,382                                 $ 327,887            ...
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By Michael Adams, I Never Forget You Have A Choice!
(Keller Williams Cornerstone Realty)
What's happening in the marketplace, now From Somerset 08873 The Carriage Homes townhome development offers larger rooms, fireplace, single car garage and patio.  According to the Garden State MLS, currently there are five (5) homes for sale in this Franklin Township delevopment.  Two are 2 bedroom-2 bath one floor ranches.  The others are two story, 3 bedroom-2.5 bath townhomes.  Listing prices range between $265,900 and $314,800. Within the past 90-days there has been only one sale of a 3 bedroom- 2.5 bath home.  A second 3-bedroom-2.5 bath home went under contract and a third, single floor ranch, is also currently under contract.  What is important to note is that all of these homes stand out from the average. Each one presents a perceived value compared to similar homes.  Buyers for...
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By Eugene Jones
(Weichert Realtors)
Somerset, NJ market analysis for April 2008Compared to March 2008    April:                                                                   March:Active Listings = 614                                                 592                                            Average LP = $ 412,769                                 $ 414,864New Listings    = 125                                                 141            Average LP = $ 378,421                                 $ 385,792Under Contract= 56                                                   53            Average LP = $ 357,336                                 $ 370,326Sold Listings    = 45                                                    43            Average SP = $ 334,283                                 $ 328,410            Average D...
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By Mike Carnese
(Century 21 Worden & Green)
Looks like we're in the Spring market with force.  Housing is beginning to move.  Prices seem to have stabilized and maybe even moving upward slightly in aome markets, in contrast to the other parts of the country being off by 15%-20%.  The name of the game is to get your property into contract as soon as possible.  If you must sell your home within a few months, there are some important things to consider.  Key reasons for your home NOT selling are Price, Price, Price, and Price.  Condition and Location also play a role, but the right Price will bring in the interested parties and some will even make reasonable offers.  If your are one of those who bought at the market's peak and have problems with the current market pricing, let's analyze your situation and see what your options are. ...
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By Michael Adams, I Never Forget You Have A Choice!
(Keller Williams Cornerstone Realty)
From Somerset 08873But, it's value they are buyingYesterday, I held a 3-hour open house at a 2 bedroom - 2 bath ranch style townhouse (MLS #) in the Quailbrook section of Franklin Township.  During that time, on average, potential home buyers dropped in every 15-minutes to view the home.  I can recall, in the not too distant past, holding advertised open houses and having no one respond.  I felt like the Maytag repairman of those old TV commercials.  Here in Franklin Township, the real estate market for lower "price point" homes, including condominiums and townhomes, appears to be on the path of a rebound. This spectrum of the marketplace is attracting empty nesters looking to downsize as well as first time buyers.  With our close proximity to Rutgers University, one potential buyer was...
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By Michael Adams, I Never Forget You Have A Choice!
(Keller Williams Cornerstone Realty)
The answer could be...yesFrom: Somerset 08873Well, the super rich certainly think it's the time to buy real estate!  The Wall Street Journal and Business Week magazine both published articles about business titans, foreigners and celebrities who are buying up luxury properties.  Granted, financing might not be as crucial for them as it is for others.So, what does this trend mean for mere mortal buyers cautious about making an offer on a home they really like today?  The reality is that serious buyers might not want to wait.  Inventories are high, giving a tremendous choice of homes.  Local home prices have come down and mortgage rates are historically low.  What are the benefits of not delaying a planned home purchase?  The tax deductions you're eligible to take for mortgage interest, p...
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By Eugene Jones
(Weichert Realtors)
Somerset, NJ market analysis for March 2008Compared to February 2008    March:                                                                   February:Active Listings = 582                                                 566                                            Average LP = $ 418,153                                 $ 417,277New Listings    = 138                                                 170            Average LP = $ 386,828                                 $ 418,126Under Contract= 52                                                   52            Average LP = $ 363,467                                 $ 339,707Sold Listings    = 36                                                    29            Average SP = $ 345,152                                 $ 289,777            Ave...
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By Eugene Jones
(Weichert Realtors)
Franklin Twp. Market Analysis Report for February compared to January       Jan. 2008Feb. 2008Active Listings:341347Avg. LP:555,549.00537,998.00   New Listings:86101Avg. LP:596,500.00499,151.00   Under Contract:2737Avg: LP499,000.00489,000.00   Sold Listings:2417Avg. SP:488,283.00401,900.00Avg. DOM:7672Avg. SP/LP:96%95%      *Statistics based on information from Garden State MLS, L.L.C. Deemed reliable but not guaranteed. Some question when is a good time to buy, I say depending on the circumstances, any time can be a good time to buy. Especially now, there are more homes to choose from on the market and the average sale price is considerably lower than the previous month. 
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By Eugene Jones
(Weichert Realtors)
Somerset, NJ market analysis for January 2008Compared to December 2007    January:                                                                   December:Active Listings = 496                                                 508                                            Average LP = $ 412,701                                 $ 396,056New Listings    = 120                                                 46            Average LP = $ 471,768                                 $ 338,235Under Contract= 29                                                   36            Average LP = $ 318,925                                 $ 355,286Sold Listings    = 27                                                    38            Average SP = $ 370,407                                 $ 351,520            ...
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By Wayne Sellers
(Global Realty Marketing)
Incorporated 1798GEOGRAPHIC INFORMATION:46 square miles, bounded on the north, west and south by the Raritan and Millstone Rivers, on the east by State Highway 27 (except for the Little Rocky Hill section of the Township where the boundary is Old Road, former State Highway 27 alignment)Encompasses the historic and geographic areas of Zarephath, East Millstone, Franklin Park, Griggstown, Middlebush, Somerset and portions of Kingston and Little Rocky Hill POPULATION - 2000 Census - 50,903POST OFFICESSomerset 08873 (Post Office Boxes 08875)East Millstone 08873 (Post Office Boxes 08875)Franklin Park 08823Kingston 08528Princeton 08540Zarephath 08890
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Franklin Township, NJ Real Estate Professionals