Inventory low, demand still high in trainline towns

Experts are reporting that rates are the lowest since 1956. Buying, selling or refinancing, that’s all everyone’s talking about! As a buyer’s agent , I watch the rates on a weekly basis and follow the flow of the Short Hills, Summit, Maplewood market for my clients. Bankrate.com also found record lows for the average 15-year fixed mortgage (4.18 percent) and the 30-year jumbo fixed loan (5.43 percent). The rate for a 30-year fixed mortgage this week was tied with the record established two weeks ago, the online aggregator of financial rate information reported. There is no question that if you were just looking at these numbers, it is a great time to buy.

The issue  for our buyers: Low Inventory

While the rest of the country and most of New Jersey is seeing an overflow of inventory, we along the Midtown Direct Train Line, have been spared in certain price points. As Jeffrey Otteau explains, a 10:1 ratio would indicate there to be 10 sellers for every 1 home thus leading to the oversupply. Conversely, a ratio of 1:1 would indicate a buyer for every home on the market thus indicating strong market demand. The difference we have here in the towns of Millburn, Short Hills, Maplewood, Summit, and Chatham is that we are still in that precious bubble of 20-50 minutes to NYC with top notch free schools. Each of us on the Sue Adler Team have motivated buyers who have been waiting for their dream home to come on the market here (some for years).

The solution for our buyers: We have always had a Home Matchmaking Section , where buyers place ads to find a home on our website, but we’re now taking it to the next level. We are actively marketing for homes for our motivated buyers by sending out personal letters to home owners in the neighborhoods  they like… and it’s working!

If you’re a buyer interested in hearing more, call me. Robin Benjamin, Sue Adler Team (973)202-7270  Robin@SueAdler.com

And if you’re a homeowner who’s home could be a match for one of our buyers, call Sue Adler (973)464-9129  vip@sueadler.com

The Sue Adler Team is the #1 Keller Williams Team in NJ 2005-Present.

Maplewood NJ Block Party

The more homes in New Jersey that I have shown you, the more you have heard me say: “I like my house, but I LOVE my street.”

I say it partly to emphasize the idea that no house is perfect and as potential home buyers we all have to make some compromises. And, partly because it is absolutely the truth.

Block Party games

I do love my “street”. When my family moved here, we had no idea that we landed among some of the best neighbors anywhere. And, our Annual Block Party in Maplewood, NJ is the day we come together to celebrate our luck of geography!

IMHO, this is undoubtedly the most family friendly place to live.

When the weather starts to get warm, we begin to think about “readying up” for some good old fashion family fun. Hula hoops come out for practice. Adults and kids start sizing each other up for “good” egg toss partners (must be unrelated/married pairs). And suddenly everyone is fighting over one dining room chair (only slightly kidding).

June through September is “Block Party Season”. Starting around 4:00PM on a chosen Saturday afternoon, we close off our street (with Maplewood town approval of course), and gather together with a mix of lawn chairs, folding tables, coolers, food and drink.

Some folks “man” the grill. Some organize the various “salads and sides” that are brought – pot luck style. Some organize the “games”.  Kids and Adults “compete” for the thrill and pride of being the Block Party Victor. Musical chairs is not for the faint of heart!!!

Obviously I am partial to MY block party. But, these events are happening all over Maplewood and South Orange. And every block will swear that theirs is the best. I don’t mind that. After all, it says a lot about our two towns. To compete over who has the best and friendliest street!!! That is a place that I want to call my hometown.

Sound good to you? If so, call me and I’ll get you “in”…

Maplewood and South Orange NJ offer one of the shortest commutes in to NYC, only 26minutes on the  Midtown Direct train line.  In this video you will get a small taste of the active supportive community and diversty that Maplewood and South Orange offer. You’ll fall in love with the architecture, quaintness of the towns, our treelined streets, and  virtually visit a variety of  neighborhoods.   Learn about the Columbia School System,  the very active “Newcomers club”,  and hear from local residents about their favorite activities.  Experience some of the energy of  Maplewood Village and the various restaurants, cafes and bars.  Enjoy beautiful shots of South Mountain Reservation and all that it has to offer.

To Read more about what Maplewood and South Orange  NJ have to offer MAPLEWOOD CLICK HERE  SOUTH ORANGE CLICK HERE  , then call the Sue Adler Team  at 973-464-9129 if you’d like to come in for the REAL town tours!

This is what came back:

Hello
     I can see you are interested in the ad I have pasted, I am currently in West Africa where I work as a volunteer with the RAFIKI FOUNDATION,here is the site for more detail about why I am here in Africa.( http://www.rafiki-foundation.org/). So I need a tenant to take care of it but since  I am out of the state now, I have received some proposals regarding the rent because it is located in a very good area of Maplewood, but I still have to make sure it is rented out to someone who can take good care of it. It includes facilities such as water and heat laundry facilities,  air condition, internet and telephone access and a car park and other necessary facilities, also comes with trash collection,pets are allowed as well as long as they are not destructive. so if you know you are capable of the task, get back to me so that I can provide you with some questions that I would want you to answer.below is the location.  101 Parker Ave, Maplewood, NJ.

After receiving this, we contacted Craigslist and also noticed that the same ad appeared  for other homes that are for sale in the same price range in Maplewood. $1200 is a very entry level  rental price and would defnitely be good to be true for a 4 BR 2 1/2 bath colonial.  For the past few days I’ve shielded at least 20 calls ( and my number wasnt even in the ad, but the address was so they saw the sale sign) And my poor sellers had people knocking on their door insisting that this house is for rent.

Just wanted to make you aware of this. Please pass this on so that some innocent person doesnt get scammed.

Thanks,

Sue

PS. Craig Newmark of Craigslist, sent a response via twitter recommending this link http://www.craigslist.org/about/scams.

This past Wednesday  I held my 4th annual Client Mix and Mingle Party, which I hold every year so that my clients who have just moved to the area can meet new friends.  Thanks to  the 60 people who attended!   Pictures are up on  facebook   http://www.facebook.com/sueadler  so feel free to check them out!

I’m really grateful for the friends I’ve made through my business and I probably don’t express that enough.  

  Referrals from my clients  now account for 70% of my business and my team is currently #2 in the entire MLS YTD for dollar volume production, and #1 in the midtown direct towns for units! THANK YOU!! 
So…since I do so much relocation, I’ve got this great idea for relocation buyers that I’m finally putting into action. Could use your input…..  I’ve hired a professional videographer to shoot town videos of Millburn, Short Hills, Maplewood, South Orange, Summit, Livingston and Chatham.
I’ve hired a radio host to interview locals and capture your stories about living here on video ( he’s very conversational and puts people at ease right away! ) We’re also interviewing shop and restaurant owners and filming homes that would be typical for the community.  
The goal is to really create a true sense of what is like to live in our towns. If you’re interested in sharing your stories about living here ,  can recommend shop or restaurant owners we should interview, or even just have recommendations on hot spots you feel we must capture, please either post it in comments or email to me at  vip@sueadler.com . We’re shooting Tues and Wed  8/11-12 if we have sunny skies.
 
Thanks so much!

 Sue Adler & Team

So the news of Akram Kwaik opening up a Manhattan Bagel in Summit is music to my ears, that is, if the bagels actually taste like  New York bagels .  Is anyone out there familiar with them?

That brings me to my next question… where are your favorite places to get great bagels around here?  Would you vote for  Livingston Bagel , Bagel Chateau, or Bagels 4 You in Short Hills? Any others?

  ]]> http://njexperts.com/2009/07/17/manhattan-bagel-to-open-in-summit-nj/feed/ 0 http://njexperts.com/2009/07/15/maplewoodstock-music-festival/ http://njexperts.com/2009/07/15/maplewoodstock-music-festival/#comments Wed, 15 Jul 2009 12:24:35 +0000 Deirdre Silberman http://njexperts.com/?p=995 What a fantastic weekend!  We spent it at Memorial Park in Maplewood for the fifth annual Maplewoodstock festival.  No you didn’t read that wrong.  A bunch of musicians started a two day outdoor music and arts festival five years ago and it’s gotten bigger and better each year.  This year, along with our own local artists,  Marshall Crenshaw and The Band closed the series.

and South Orange are blessed with a very diverse and talented community  and the month of July is the South Orange Wednesday music series at Floods Hill.  This year it’s been extended through August 7th, for the fifth annual Rock the House concert(where my husband’s band is playing) Hope to see you there!

I was stopped at a light at the corner of Morris Tpke. and Millburn Ave. when four teenage girls, say 14 or 15 years old, nearly gave the “MOM”in me a heart attack. Two of the girls dangerously ignored the cross signal and road their bikes across the busy street narrowly avoiding oncoming traffic. The other two waited until it was slightly safer to ride across, but if any of their mothers had been there..OY!

In our area the number of residents who are thinking along the same lines seems to be hitting a critical mass. On July 21st a vote on this issue is scheduled at the Millburn Township Committee Meeting. If passed, it will provide bike lanes and safer bike travel around a portion of South Mountain Reservation from Brookside Drive to Ridgewood Road. The project is supposed to include striping along Glen Avenue, road markers with the bicycle symbol, and kiosks with information about the path and signs. In addition to running along Glen Avenue, the path would link to downtown Millburn on Lackawanna Place. Now this is something everyone (especially all of us Greenies) would love to see happen!

Even more exciting news! From what I understand, our other midtown train towns are in various stages of their own Bike Path projects. Imagine being able to ride a bike from town to town along the train line. Maplewood to Millburn to Short Hills Station to Summit and to Chatham! How cool would that be? For our environment and our thighs!

I will keep you posted on the results of the meeting. If all goes well, the project in Millburn could be completed by the Fall!

Save these dates and get your tickets now! July 24, 25, 26th at the Grand Summit Hotel 

courtesy of www.summitwineandfood.com 

Get your tickets for The Summit Wine and Food Festival here.

 Friday July 24th is opening night featuring 15 world-renowned chefs preparing their signature dishes. There will be 15 leading wineries providing the accompanied wines. The cost of the opening night reception is $195.  Afterwards, there is an Invitation Only after hours party for mingling with the winemakers, chefs and sommeliers at the Hunt Club Restaurant.

Saturday morning  from 10-12 the Rubicon Estate’s Master Sommelier Roger Dagorn will lead you through a vertical tasting of the legendary wines of this vineyard.

Unfortnately there are two other competing sessions going on at the same time. Several award winning internationally acclaimed chefs will be having a cooking demonstration, AND the third is a seminar on Food and Wine Pairing 101, matching food with the appropriate wine.

The afternoon of the 25th there are great classes on Sake Tasting, wine tasting, cooking demonstrations by Ingrid Hoffman, a Food Network celebrity, as well as a book signing of her best-selling cookbook “Simply Delicioso”.

From 4-6 PM there is a class on Power Entertaining with Wine and Food for everyone who has wanted to perfect their hosting skills.

Saturday evening is the major gala six course dinner with each course prepared by a different celebrity chef and paired with the finest wines from around the world. Not to be missed!

 The events continue on Sunday starting at 10 AM with   cheese and wine pairings, more cooking demonstrations by master artists, with the evening ending with a gourmet burger showdown featuring 25 of the best chefs in the country!

Wines  

Chefs

Sommeliers

I just went into GSMLS and searched all homes in  Millburn, Short Hills, Summit, Chatham, Madison, Maplewood, South Orange and Livingston, and found that 95 homes have gone under contract in the past two weeks. This does not include all of the ones that are in attorney review! 

Compare This To the last 2 weeks of  March, where only 45 homes went under contract in these towns, and the last 2 weeks of February where there were only 18 homes to go under contract.

Why now??

Move up Buyers finally are selling their existiing homes and there is finally enough inventory for them to want to make the upward move.

MORE  NJ Sellers are pricing right, staging their homes and listing with Realtors who are creating a sense of urgency for them  ( yes, shameless plug) , so those 95 homes are selling, while others remain sitting. 

The RATES-  I just refinanced at 4.625%.  How long do you think they’ll stay below 5%?

Its Spring!  The clock is ticking to get in for the school year – beats the 30k per year private school tuition.  The 3rd baby has been born and the 1 bedroom apartment won’t work anymore, etc… life goes on.. you get the picture.