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Chatham, NJ Real Estate News

By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Wickham Woods in Chatham Twp - Homes & Real Estate Market Update 2010 has turned out to be a much better year for home sellers in Chatham NJ, and Wickham Woods is certainly no exception.  This great neighborhood with spacious homes on half acre lots, quiet yet winding streets, beautiful traditional colonials, splits and ranches. 6 homes in Wickham Woods sold in all of last year.  To date 5 homes in Wickham Woods have already sold!  There are currently 3 homes under contract (all over $1 million) and only 2 homes for sale, both colonials, one just below $1 million, the other nearly $1.3 million. Wickham Woods Homes Sold so far in 2010: 38 Stafford Road, listed at $1,089,000, sold at $1,085,000.  10 days on market.   128 Westminster Road, listed $1,129,000, sold for $1,075,000.  110 days ...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Chatham NJ Real Estate Update for June 2010 In June of 2010, 42 homes and condos were sold in the Chathams.  View sold listings. the average Chatham home sales price was $844,235 vs the average list price of $859,119 Chatham homes sold for an average of 98.3% of asking price, indicating that buyers and sellers were in very close agreement on price and value Chatham homes and condos averaged days on market of 53 days the median sales price was $693,750 and median days on market only 25.5 Address, Sales price, Days on market 380 MAIN ST APT 20* 303,000 7 68 N PASSAIC AVE* 405,470 7 67 N HILLSIDE AVE* 464,000 151 137 N HILLSIDE AVE* 504,000 52 6 Sussex Avenue 575,000 20 138 HILLSIDE AVE* 575,000 14 149 CENTER AVE* 670,000 6 77 LAFAYETTE AVE* 640,000 10 39 CENTER ST* 660,000 17 85 WESTON AV...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Chatham, New Jersey - Two of the most charming, desirable towns to own a home, condo or townhouse, live and raise a family.   There are two Chathams  - the Borough and the Township.  Chatham Boro was settled in the early 18th Century and is a small residential community with a small town flavor.  Chatham's active town center includes charming shops, casual eateries and award-winning restaurants as well as a public library, several service establishments, parks and tennis courts.   Chatham Township offers spacious country and suburban living with most homes and property built after World War II.  There are many luxury homes for sale and new construction listings in Chatham Twp.  Chatham Twp was named by Money Magazine in 2005 as the 9th Best Town to live in the US.  NJ Monthly ranked it ...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
May Home Sales in Chatham NJ 22 homes closed this past month of May in Chatham Boro and Chatham Twp combined, compared with 19 last year, same period. Though this is not a huge increase, the trend is up ... year to date, the number of Chatham homes sold this year is 79 vs 46 for last year.  Buyer activity is way higher and we are much busier these days than we were, again, last year.  Average home sale pricefor the Chathams is a mixed bag ...Year to date: $764,750 for Chatham Boro vs $631,523 for same period last year.Chatham Twp average home sale price year to date: $680,962, vs $890,342 for same period last year. What does this mean?  Well, averages only tell you a small part of the picture.  They're useful, but only in context ... basically this is the story with our real estate mark...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
New construction homes for sale in Chatham NJ There's nothing like a brand-new home.  Since Chatham has been settled since colonial times, the homes in our beautiful communities are usually not new.  There is practically not one empty lot to be found in all our town, but where there is a will there is a way ... older homes on great properties (usually the homes that are really run-down) are torn down to make room for new homes.     These new homes offer every amenity and luxury that money can buy.  They range from a minimum of 3,000 sq ft to more than 5,000 sq ft.  Most bedrooms have ensuite bathrooms and walk-in closets.  Deluxe kitchens and media rooms, luxurious master suites and in-floor heat,  and much, much more. Currently there are 9 new homes available for sale in Chatham Boro a...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Rolling Hill in Chatham Township - a Premiere Home Neighborhood When you picture an idyllic suburban community, well , the picture could be of Rolling Hills in Chatham Twp, NJ.  Winding, tree-lined streets, only local traffic, half acre lots on mostly gently rolling land, towering trees, stately and gorgeous homes. Close to the top rated Chatham District schools, conveniently located also close to Fairmount Country Club for golfers, Noe Pond and Colony Beach Club for Summer lovers, with shopping and entertainment nearby, this community is the epitome of a beautiful suburban community. Most homes in Rolling Hills average well over $1 million, in fact the average list price as of this writing is $2,047,446.  However, the average sales price for the 20 homes sold in the last 12 months come...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
April home sales in Chatham NJ Spring is always a busy time here for home buyers and home sellers alike. Real estate for sale signs pop up just like the daffodils of early Spring, and they are just as welcomed by eager home buyers looking for their home in Chatham. Top schools, a vibrant downtown village center, an easy commute to NYC via the NJ Transit Midtown Direct train, warm and friendly people, tree lined streets lined with beautiful homes in every shape, size and price range. It's no wonder that April homes sales have been brisk, even when the economy in most other places is sluggish, Chatham is just one of those special places to call home that never loses its appeal. 12 properties sold in Chatham Boro for a total sales volume of $10,513,000: 170 Weston Avenue: Cape Cod, Expande...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
The Manor Section of Chatham Borough NJ - Homes for sale and sold Chatham Borough is one of the most charming and desirable towns in New Jersey.  The Manor Section is one of the most delightful neighborhoods in so many ways: Close to our charming village center Many tree-lined quiet streets where children can play Walk to Milton Elementary School and Chatham Middle School Top New Jersey school district - Chatham was rated #10 in NJ for 2008 (out of 316) by New Jersey Monthly Magazine Easy access to the NJ Midtown Direct Train Line to New York, Newark and Jersey City Several styles and sizes of homes, though mostly colonials built in the 1930's  (many expanded, renovated, upgraded and updated) Conveniently close to three major area hospitals:  Overlook in Summit, Morristown and St Barnab...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Chatham NJ Homes Sold in 1st Quarter 2010 Chatham sales are up this year over last by nearly 50%!  Yes, in Chatham Borough last year to date we had only 10 sales, this year 16.  In Chatham Township, instead of the 8 sales last year, we closed on 19 homes and condos in 2010.  Average prices are as follows:  Chatham Twp:  $559,026Chatham Borough:  $718,219 Currently there are 149 homes and condos for sale in Chatham Borough, 268 homes and condos for sale in Chatham Township. Chatham Township was awarded the #2 spot in the Best Towns to Live in New Jersey by New Jersey Monthly this year.  It was Money Magazine's #9 in the country in 2005.  Our fine schools, tree-lined streets, charming village center and proximity to world-class shopping, health care, cultural opportunities and fantastic n...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Homes of the Highlands Neighborhood in Chatham Township, NJ The Highlands of Chatham Township sits high on a knoll over Chatham and the Great Swamp with lots of open space and privacy. Chatham Township is one of the best places to live in New Jersey, according to its residents and NJ Monthly Magazine. Chatham Township was rated #2 place to live by NJ Monthly in 2010 and #9 in the country by Money Magazine in 2005! The homes in the Highlands of Chatham Township are some of the loveliest in the area. There are many gracious colonials on large lots of about ½ acre.  Most of these homes were built in the 1970’s with welcoming foyers, spacious kitchens, living, dining and family rooms on the main level and usually 4-5 bedrooms on the second floor. An ideal, sensible floor plan. The streets t...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Wickham Woods homes and neighborhood, Chatham Township, NJ Wickham Woods is a beautiful neighborhood located in the crook of Southern Boulevard and Fairmount Avenue in Chatham Township, NJ. Development began in the late 1950’s but most of the homes in Wickham Woods were built in the 70’s. There are many colonial-style homes with a smattering of capes, ranches and split-levels, the homes are mostly on ½ acre lots and feature generous backyards. Since the 1970’s, and particularly in the last decade, many homes in Wickham Woods have been expanded, upgraded and updated to reflect the needs of today’s homeowners. Wickham Woods is ideally located close to parks and schools - only a short distance to Southern Boulevard Elementary School and the Great Swamp Outdoor Education Center is next door...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Homes for sale and sold in Chatham's Prestigious Washington Neighborhood One of the prettiest neighborhoods in the pretty town of Chatham Borough, NJ is the Washington Section. I like to walk the streets here and admire the beautiful homes and landscapes. It is peaceful and quiet, I only occasionally meet another walker - sometimes with a dog. Not much traffic, I walk on the street - no sidewalks either. Located in the veritable heart of Chatham Borough, this neighborhood enjoys very close proximity to the NJ Transit Midtown Direct train, the small but bustling village center, and, best of all, very close proximity to highly acclaimed Washington Elementary School as well as Chatham High School. The streets that make up the Washington Section Neighborhood are: Washington Avenue, Amherst ...
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By Robert Snyder, a.k.a. Bob the Broker, host of The Real Deal
(Silex Financial Group, Inc.)
Every year New Jersey Monthly Magazine devotes an issue to the top towns to live in NJ.  Every year Chatham Township comes in at the top or close to the top of the list, this year coming in at number 2.  Whether you agree with the list or not, for people buying or selling this list is an important tool.  It's all about perception and people perceive the towns that make this list to be the most desirable towns to live in.  Thus the list can only help property values!  This is a great honor for Chatham Township and all the other towns that made the list.    See the entire list at http://njmonthly.com/articles/towns_and_schools/best-places-to-live-2010.html   How does your town rank?   Robert Snyder Mortgage Advisor Jacob Dean MortgageCell: 973.495.8925 Fax: 973.966.1063 Bob@bobthebroker.n...
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By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
Fortunately, today's technology provides a way to not only capture and 'scrub' the lead, it provides the sales department a way to follow up and to monitor the entire process. Paul F. Stillwaggon NJ Estates Real Estate Group March 2010 LINKING THE LATEST TECHNOLOGYTO OLD FASHIONED SERVICE Copyright © 2010 Realty TimesAll Rights Reserved. First, there was the need for and the promise to deliver a top ten position on Internet search engines. Next came the 'social media' lifeline for new homes builders. My guess is that any Internet company worth its keyboard is good at delivering prospects through search engine positions and implementing social media tools. But if the prospects don't buy within the first sixty to ninety days, what happens to that lead? I don't know much about Internet mar...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Chatham Township Named 2nd Best Town to Live in NJ - by NJ Monthly In 2008, NJ Monthly Magazine named Chatham Township the Best Place to Live in New Jersey.  This year, the same study named Bedminster Township #1 and Chatham Township #2.  Well, as far as I'm concerned, #2 is pretty awesome!  For those of us who know and live and shop in Chatham, NJ, well, you know how fortunate we are.  Here are some of the things I find special: Small town charm and feel Friendliness factor - see your neighbors and friends at the market, gym, town fairs, etc. Top rated schools where teachers, administrators and parents truly care about the children Tree-lined streets, beautiful, well-kept homes Close proximity to New York City, Newark Airport, major industry, arts centers, and shopping Friendliness - d...
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By Paul F. Stillwaggon Warren NJ, NJ Estates Real Estate Group, Weichert Realtors
(Weichert Realtors)
 You can take your economic cues from the Federal Reserve Board' s latest assessment...or you can take them from the nation's consumers directly, as measured by the Conference Board's monthly Consumer Confidence survey. NJ EstatesReal Estate Group Paul Stillwaggon February 2010 LINKING THE LATEST TECHNOLOGYTO OLD FASHIONED SERVICE Copyright © 2010 Realty TimesAll Rights Reserved. Both are now essentially saying the same thing: The economy is surely but steadily getting stronger, consumers feel better than they have in months about their prospects, but the ongoing concern -- and it's a big one -- is unemployment and creating new jobs. The Consumer Confidence index -which is based on interviews with 5,000 households per month -hit its highest mark in more than a year. At the same time, Fe...
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By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
"Congress voted on Thursday to extend the tax credit and President Obama plans on signing it into law Friday morning. The $8,000 credit will apply to all contracts, for homes up to $800,000, entered into before April 30, 2010, and closed by June 30. It creates a new $6,500 credit for property owners who have lived in their home for at least five consecutive years." Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,000 for couples, from $75,000 and $150,000, respectively. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return. From the NY Times: Read more: http://njrereport.com/ Paul Stillwaggon, For All Your Real Estate Needs Contact New Jersey EstatesReal Estate Group E-mail: njestates@gmail.comW...
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Here are the numbers showing activity, for listings and sales of real estate in Chatham Borough comparing the months of March 2008 vs 2009. This is showing what we all know has been true ... home prices in New Jersey had become too high for first time buyers to make their move toward home-ownership - in fact between 2000 and 2005 incomes in NJ rose 16% while home prices rose 86%.  Although home prices in Chatham have held much better than most of NJ and the nation, there has been an adjustment that probably will continue through 2009.  This can be seen in the number of sales - only 2 in 2009 vs 5 in 2008.  And, we currently have 68 active listings vs 61 last year.  The good news is that we are matched up with last year with under contracts.  Now, if they all close, we'll be in good shap...
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By Shawn Fox, Selling Homes in Northern New Jersey
(Fox Home Team at RE/MAX American Dream)
Chatham, although often viewed as one town, is actually two separate and distinct towns: Chatham Township and Chatham Borough. The Township features single family homes on larger lots and several townhome and condo developments, while the Borough is closer to the downtown area with beautiful older homes, specialty shops, and restaurants. In 2005, Chatham Borough was recognized by Money Magazine as the 9th-ranked of the "Best Places to Live" in the United States.  To learn more about Chatham Township and Chatham Borough visit www.MorrisCountyLiving.com Chatham Township and Chatham Borough, New Jersery
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By Simon Westfall-Kwong, The LuxeLife Group of eXp
(LuxeLife Group of eXp Realty)
Recently I read a book by Laurie Moore-Moore, founder of the Institute for Luxury Home Marketing.  A very smart lady and a very insightful book!  In it, she suggested looking at sales during a certain period (in this case I'm going to choose 2008) to see how many "real buyers" were in the market and which price ranges performed better or worse than others.  So, here is this report for homes and condos sold in Chatham Township, New Jersey in 2008.  This information is garnered from the Garden State Multiple Listing Service and is deemed to be accurate but not guaranteed.  Let me know what you think.  Let me know if you have other information that you think would be helpful to see in these reports.  I look at this data right side up, upside down and sideways over and over again.  Sometime...
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