Here is my annual state of the real estate market based on price and number of properties Sold by town in Somerset County. How did your town hold up in this market? Did you loose more equity? Are homes in your town selling? Where is the market moving to in 2012 Take a look and call me if your in need of a more accurate evaluation of your home!

This information was provided by the Garden State Multi List System. Please note that in the Towns of Bernardsville and Watchung 2010 sales above 1 million dollars were elevated. In 2011 fewer high end sales occurred and skewed the average Sale Price

It appears that the housing market is starting to gain traction and the best kept best priced homes are selling the quickest and in the shortest time as in normal markets. With 8 of 21 town's showing a positive move in price, we see the first time in the last few years that we did not experience downward price pressures in all towns. This is a example of better mortgage rates (Historical lows ) and an improved economy. Please note that in some markets the buyers price point has moved up the price scale as they use the lower rates to make a move up in this market.

If you would like to know how much your home is worth in today's market, just let us know. We will talk to you confidentially, with no obligation giving you an honest assessment of you personal situation. I give you my personal commitment to offer you the facts as they not just tell you what I think you want to hear.

Investors now you can pick up properties at historic levels, the rental market is strong and opportunity exists! Expand you property portfolio. We Will manage your property for you if needed.

Underwater negative equity Buried in debt with no end in site we are experienced in the Short sale process and pre foreclosure process call us for a free consultation.

THIS WEEK I HAVE THE OPPORTUNITY TO ROOT FOR THE NEW YORK GIANTS TO WIN THE SUPER BOWL

SEND ME YOUR E MAIL WITH WHAT YOU BELIEVE THE FINAL SCORE WILL BE AND THE TEAM THAT WILL WIN. 

THE CLOSEST TO THE WINING SCORE WILL RECEIVE A DINNER CERTIFICATE TO A LOCAL RESTAURANT PROVIDED BY COTTAGE TO KASTLE.

Great property with a great location across from the Branchburg Walmart! Easy access to RT 22 as well as other neighboring highways! Property zoned as Professional Office and has 2 out buildings.  Perfect for contractors!

Call me today for a private tour! 908-581-5431

Lovely Bridgewater Cape Cod brand new to the market! Featuring 3 bedrooms, spacious eat in kitchen, 2 car garage with a breezeway, and a full basement! Benefits include a back yard is 0.85  acres and easy access to major roadways, train, premier shopping and Somerset Patriots Baseball

Schedule a private tour today by

calling Allen Gabrielski at 908-581-5431 or

email algsells@msn.com

Beautiful 2 Bed, 2.1 bath townhouse. 

 Clean, updated and sunny! 

BUYER INCENTIVES

Recent Price Drop of $10,000

$3180 towards association fees with accepted contract 

Home Owner's warranty

RECENT UPDATES

Professionally Painted Interior

Replaced Windows

Replaced Furnace

Replaced Carpet

New A/C Unit

Newer Door

Home is also available for rent

Call Allen Gabrielski 908-581-5431 

for a private tour of one of the best values in the area!

Stop      

Bright and Sunny 2 bedroom End Unit on Third Floor, with Balcony. Very private location with stunning views! Move In Condition Great Layout in this incredible unit. Spacious Master Suite with walk in closet. Living Room with slider thru to a deck. Galley kitchen is a convenient layout to cook, a separate dining room great for company and a sunny living room with sliders to a deck with scenic views. BONUS - Washer and Dryer in the unit! . Great Location. Convenient to major transportation Rts. 287, 78, 22, bus, train. Within the Bridgewater School System. Close to great restaurants, shopping Malls and more. Pets are welcomed.

Welcome to Twin Fox Farm

Charming custom house situated on 18.71 acres of farmland. Located in the heart of Somerset, this home is hugged on all three sides by privacy. A stone wraparound porch showcases stunning views that are instantly brought into the home with tall windows throughout the home. Highlights include a chef’s EIK ft. custom cabinetry, granite counters, walk-in pantry & farmhouse sink. A spacious living room evokes coziness with a large stone fireplace while the elegant dining room features a grand bay window. A 1^st floor master suite is a private retreat including a full office, sitting room with fireplace, a luxurious bath with a jetted tub and 2 walk-in closets.   Upstairs are 2 Jack & Jill bedrooms, one with a turret and the 6^th bedroom serves as a full guest suite. 

The exquisite farm includes a paver patio, riding ring, 3 fenced in pastures (including one with a run in the shed), in-ground pool, spacious barn with  several stalls, a pond and an insulated garage.

Truly a spectacular home with endless possibilities! Please call Al Gabrielski at 908-581-5431 to see the farm today.

This Home offers a floor plan that guests and visitors will love windows in every direction lead the eye to the wooded lot with large deck.  Large  open rooms Master bedroom with walk in closet, outside balcony and a Master bath with double sinks soaking tub and shower. 

This home also offers a private entrance to support an office or Au pair suite and has a slider to the Very Private Back yard.

Crim or Mine to 1616 Mountain Top Road Bridgewater

Below is an excerpt from an Article from the Wall Street Journal which I thought everyone would like to read. Smart people hire a professional Brokers!!!!!

BY JOSH BARBANEL

A founder of a website dedicated to direct sales of homes by their owners has sold his two-bedroom apartment in Chelsea for $2.15 million—with the help of a real-estate broker and a standard 6% commission.

Colby Sambrotto, a founder and former chief operating officer of ForSalebyOwner.com, a large website for owner sales, spent six months trying to sell his condominium himself through online listings and classified ads, before turning over the listing of the 2,000-square-foot apartment to a broker at Bond New York in November.

The broker, Jesse Buckler, said he told Mr. Sambrotto the apartment in the Lion's Head ...

Here is the link http://online.wsj.com/article/SB10001424053111903341404576484352486553740.html?KEYWORDS=JOSH+BARBANEL

Sales of existing homes declined 3.8% in May for the second consecutive month, to an annualized rate of 4.8 million units. Home sales (including single-family dwellings, townhouses, and condos) were down 15% from a year ago. The median existing-home price fell 4.6% to about $166,500 year over year. Every region except the West Coast experienced a decline in May; the Midwest was hit hardest (–6.4%) partly because of bad weather. Several factors, including the soft job market and tighter mortgage lending practices, continued to put pressure on sales. "Spiking gasoline prices along with widespread severe weather hurt house shopping in April, leading to soft figures for actual closings in May," said Lawrence Yun, chief economist at the National Association of Realtors. "Current housing market activity indicates a very slow pace of broader economic activity, but recent reversals in oil prices are likely to mitigate the impact going forward."  Thanks to Vanguard Market and economy

With the Drop in existing sales for May and very slow activity for June it looks like anothe few months down before we flatten out Then We wil have to take on the short sales forclosures and shadow inventory. So it looks like a long haul and that's whats keeping the buyers from purchasing they to are waiting for the bottom. Right now it's a free fall and looks like we wont know we hit untill we hear the SPLAT!!!!!

As the economy here in the United States started to make strides the Greece financial meltdown has carried over to the U.S. financial markets. Confidence in a growing economy has dampened Many home sellers are concerned with the lack of activity of buyer visits and now see a much more difficult market ahead.

Pricing Ahead of the market is critical if you don't have an offer in the first 30 days a reduction is needed  getting a certified appraisal is well worth the cost of 500 or so dollars. It will allow you to support you marketing plan. Either way when that first offer comes in think long and hard about your response it could be the only offer you may get.  In this market the smart sellers are undercutting the competition when they list the property for sale and you should to.

Well the Greece we got is not going to help the housing wheel run  any smoother its up to you and me to make sure your home gets sold. Do all the updating before you go on the market, don't skimp, take short cuts or step over the things you need to get done. You cant live in your home for 15 years do nothing and expect to get the same amount of money the person who updates things as they go along. Don't whine about spending money now when you have not for the last number of years. Buyers today want clean, staged, updated and good values in the homes they purchase. Make sure your home is one that stands out.  

Here is the recent sales data for the month of May for towns in Somerset County. A few will surprise you and a few are somewhat expected to lead the way.

Bedminster-82 Days on market-sale/list price 98%-Average sale price 384,000

8 sales

Bernards-60 Days on market-sale/list price 95%-Average sale price 486,659

21 sales

Bernardsville-134 DOM-sale/list price 92%- Average sale price 886,929

7 sales

Bound Brook-129 DOM-sale/list price 91%-Average sale price 245000

1 sale

Branchburg-106 DOM-sale/list price 96%-Average sale price 456,000

8 sales

Bridgewater-63 DOM-sale/list price 96%-Average sale price 434982

25 sales

Far Hills No Closed sale for the month

Franklin-109 DOM-sale/list price 95%-Average sale price 292242

31 sales

Green Brook-66 DOM-sale/list price 92%-Average sale price 401830

5 sales

Hillsborough-61 DOM-sale/list price 96%-Average sale price 343225

24 sales

Manville-147 DOM-sale/list price 92%-average sale price 222500

2 sales

Milstone NO Closed Sales for the Month

Mongomery-90 DOM-sale/list price 97%-average sale price 511200

15 Sales

North Plainfield-55 DOM-sale/list price 97%-average sale price 214286

7 sales

Peapack Gladstone-75 DOM-sale /list price 93%-average sale price 917500

2 sales

Raritan Boro-96 DOM-sale/list price 98%-average sale price 349667

3 sales

Somerville-64 DOM-sale/list price 92%-average sale price 255250

6 sales

South Bound Brook-173 DOM-sale/list price 97%-average sale price 173625

4 sales

Warren-94 DOM-sale/list price 97%-average sale price 862750

8 sales

Watchung-15 DOM-sale/list price 96%-average sale price 582417

6 sales

Here is the most alarming information from this months statics we have 3087 properties on the market in Somerset County and 183 properties closed last month that gives us a 16 month supply of properties for sale. So lowering the rates helps but it has no effect on stabilizing the price if we have so much inventory. The only improving factor seen was an increase in the under contracts for the month to 269 this would reduce the supply to under a YEAR to 11 months.

Pricing ahead of the market that's how many home sellers are getting home sold but it takes a savvy homeowner who has good guidance to take that action.

If Your looking to buy a home or expand into the investor market or sell your home call and we will offer you a free no obligation consultation. 

Rare Bridgewater Opportunity

to own an Investment Home Or a Mother/Daughter Home

1.15 acres of property (with possible potential for subdivision), located in a great neighborhood. Spacious home is ready to become your next income property, or perhaps a mother/daughter home. Featured on the first floor are  2 bedrooms, a full bath and a full kitchen and on the second floor is 1 bedroom, a full bath and another full kitchen. Very easy to customize to your liking. The yard is a spacious 1.15 acres and the neighborhood is charming! 

Call to schedule a private tour!

Al Gabrielski 908-581-5431 

 We no one can predict the bottom but, missing it could be more costly that if it declines a few more percent. The amount of money you could save with low inerest rate usually exceeds the amount that you can save when you get your offer accepted, over the long run. If you only staying a few years then the reverse applies.

October 1 2011 the maximum loan amount that Fannie Mae and Freddie Mac will back is scheduled to drop from $729,750 to $625,500.

 A link to a MSN article i believe worth reading

http://www.msnbc.msn.com/id/42954513/ns/business-personal_finance/

Till later

May your drives be straight and long

Allen Gabrielski

These are some of the questions I'm asked on a daily basis. The answer varies from person to person but here is what I have experience over the last 24 years selling real estate here in Bridgewater and surrounding areas. The cost of owning a home is at an all time low based on rates and price, but if you don't have a good job or credit now is not the time for you. The current Spring market has been very slow to take off but this weekend I saw things start to change.

Open House Traffic is up.

With buyers starting to look, the weather improving, all signs point to an uptick in activity. Sunday's open house was on a first time buyer 1 bedroom condo in Hillsborough. 7 parties stopped buy to take a look an improvement over the last few open houses. The condo offers first floor living, updated bath, hardwood floors, open floor plan and ample closet space. It's price 141,500 a great opportunity for a first time buyer or someone looking t downsize.

Investing

Looking to make more than 1% on your money well this is the time to become a Real Estate investor. Based on your requirements for investing and what your long term goal is this could be a great time to purchase an investment for your future. Being a landlord is not for everyone but has helped many people create wealth for the future. In the past few weeks I have worked with several buyers looking to enter or expand their portfolio. This could be a time for you also! If your thinking how could it work for Me?Just call for a free consultation. Being a investor owner of property I can assist you in finding out if it possible for you. 

Selling ? Now ? Wait? Maybe Never?

With Prices down over 25% from the top, Selling in this market is not for everyone. If your Relocating or downsizing this market may offer some opportunities. If you purchased in the last few years you maybe underwater and not able to move. Either way the homes that are selling are the properties that are priced the best and are updated. If your looking to make a move call us we can give you up to date market information to help you make the best decision. 

It's February 21 the kids are off from school (again) the ground is covered with Snow and you have 37 days to submit your Property Tax appeal. Here are a few tidbits, if you believe that your property is assessed at a value that is to high you have the right to appeal your property taxes. How does one go about that? Well head over to your local municipal offices and get a Tax appeal form fill it out and submit it by the deadline in your community usually April 1 except when a community has had a revaluation or reassessment then the deadline is May 1

Here are a list of towns that have done a revaluation or reassessment in our area, Bedminater, Bernards Twp. Bernardsville, Branchburg, Bridgewater, Far Hills, Flemington, Franklin Twp. Hillsborough, Millstone Boro, Peapack Gladstone, Somerville, Warren and Watchung.

Were do you find the information need to support your appeal?  Well, from me! All you have to do is e mail me your name, property address, and some information about your home and we will send you several comps that have closed in the time line needed to assist you. It free simple and we have helped many homeowners in the past and would love to help you also. Reach out and contact us Today!!!! 

If your looking to refinance or need a Mortgage or  just want to see what you qualify for in the current market Call Bob Hart 908-217-6905 with Princeton Mortgage  He is one of the best.

As the weather changes so should your prospective if your thinking of Buying or Selling Real Estate this year. Rates are moving higher buyers are looking to take action and sellers, that are able and ready are entering the market. Spring is the height of the real Estate market and as we have seen Clean, Updated properties are moving. Home sellers that are smart and have sold before know the importance of entering the market early so they don't get lost in the growing inventory. Are you thinking of Selling Call us today for our free report on how to save thousands on your next move. If your looking to save on you Electric Bill Visit  http://www.viridian.com/energ/default.aspx to see if your home qualifies.

Till later.... I need to move my Golf clubs from the garage to the car, it won't be long now till i'll hear the sound of my Titelist hitting the bottom of the cup! 

Hillsborough with one of the most diverse housing inventories had 304 properties sold this past year. The list to sale price at 97% one of the top in Somerset County the average sale price $365,500 with the under contract price even higher at $404,895. A market place that offers  condos in the low 100's to large mini mansions well over $900,000. With farms and rural homes on more than one acre and lots of open space Hillsborough has become an place to live. The average days on market was 87 days showing an increase in demand of course the best kept well priced home are the ones that move first.  Hillsborough Township residents are now Welcoming Edible Arrangements at Nelsons Corner as one of the townships newest residents call today 908-231-2003 to order tell Adriana Al sent you.

The Number of homes placed on the market this year reached 1023 with 397  Selling and homes closing. The average sale price in town was $435,627 with the greatest activity in the 3 and 4 bedroom units. A true indication of the impact of the first time home buyers entering back into the market. 271  of the 397 were 3 or 4 bedroom homes the average market time 76 days. In the 5+ bedroom homes we saw an average sale price of 713,005 and the average days on market was 87 days. The Bridgewater Market has made a bottom with entry level homes selling allowing move up buyers to take action.

If your thinking of Selling moving up or just moving out as many older homeowners are give us a call. We can inform you of all market conditions in your area. Its free no obligation just give me a call 908-685-2318

813 homes entered the market in 2010 and 392 of them sold with an average sale price $621,900 the average market time was 72 days with homes selling at 96% of the list price. Over all this market saw greater activity in the 4-5 bedroom homes listed above $700,000 look for this market to continue to solidify this spring.

Bernardsville

With a great downtown, a train to New York and larger more expensive homes,  Bernardsville saw 298 homes enter the market with 88 selling The Market time in this area was 112 days with properties sell at 91% list to sale. This number shows the dynamic slowdown in the high priced homes with fewer buyers able to sell lower priced homes to move up to the high end. 26 of the sales in town were below 575,000 with 28 homes over 1.5 Million selling in 2010

Far Hills

One of the more expensive areas in Somerset County, Far Hills had 58 properties enter the market with 15 Selling the average sale price being $$$$ 1,378,233 with sales prices in the 3-4 million dollar range Far Hills saw the list to sale price at a low of 88%  with the 2+ million homes having a market time of 318 day almost a Year!!

Watch for our next Blog on the Bridgewater, Branchburg and Bound Brook markets. You will be surprised at some of the numbers. Remember, you don't make money when you sell your home you make money when you PRICE your Home. Contact a qualified Realtor to review all the market information. If you are looking  for expert assistance Just call us, we will handle all the details.

342 properties came on the market 149 properties closed during the year the average time on the market of these properties was 70 days. That does not include if the property was re-listed because it did not sell with the previous Realtor. The List to Sale price on the average sale was 97% This ties Hillsborough as the highest list to sale ratio in Somerset County. The average sale price $379,755 and the Median Sale Price was $319,900.

The Greatest Activity we have seen was in the 2 bedroom condo and townhouse market were 94 of the 149 sales occurred average market time 55 days. Strong activity here, the average sale price was $309,900. Next in line was the 3 bedroom homes and units, 27 sold here and the average market time 136 days. Of course the highest priced homes saw the slowest activity and the list to sales price ratio showed this at 93%

Nothing to be alarmed about here as we have seen in the past few years the best priced and kept properties sell the quickest. Entry level homes have the greatest activity and with rates remaining low this will continue. If your thinking of Buying or Selling  contact a qualified Realtor to review these facts and figures it will more that pay knowing the market statistics....