Making Your Real Estate Dreams Come True

Archive for May, 2014

Westfield Inventory up and Prices down

Before you buy or sell in Westfield, an important first step is to educate yourself on the market conditions. Team Zuhl has crunched the numbers for you and here’s what you need to know.

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For more information, to browse listings, or for your free Comparative Market Analysis, please contact us.

Union Real Estate Market Report

Buyers and sellers in Union, NJ, need to know the market details before they make any decisions. Here’s what you need to know this month about real estate market values in Union.

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For an analysis of the data, please click here.

For more information, to browse listings, or to request a Comparative Market Analysis, please click here or call us at 908-917-4189.

What do you need to know about Springfield’s Real Estate Market?

Team Zuhl has crunched the numbers for you and here’s everything you need to know before you buy or sell a home in Springfield.

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For more information, please click here. To search listings, please click here. For a free Comparative Market Analysis of your home, please click here.

Scotch Plains Real Estate Market Report (Infographic)

Before you buy or sell a home in Scotch Plains, please call us and find out how the local real estate market affects the value of a home!

 

 

 

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For more information, please visit us at TeamZuhl.com.

Mountainside Real Estate Market Report

Buyers and sellers in Mountainside need to understand market conditions so that they understand the value of their home. Here’s everything you need to know.

 

 

 

 

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For more information, please read our blog at TeamZuhl.com.

Ready to sell in Kenilworth?

If you’re thinking of buying or selling a home in Kenilworth, one of the first steps you should take is to study the market conditions so that you understand how real estate is valued in Kenilworth. Here’s a good place to start.

kenilworthInventory: There are currently 37 homes offered for sale in Kenilworth ranging in price from $144,900 to $625,000 with an average list price of $338,743. You can browse them all by clicking here.

The inventory in Kenilworth is a little low for spring. There were 41 homes on the market in April of 2013 and 44 homes on the market in April of 2012.

Prices: The average sale price in Kenilworth in April was $399,143, 20% higher than the average over the last 12 months.  This could be due to the lower inventory. Buyers typically come out in large numbers in the spring, and Kenilworth’s inventory isn’t quite up to its normal spring levels. High demand with low inventory typically produces high prices.

Length of time to sell: Last month, we reported a slowdown in the rate of sales. The average home that sold in March sold after 153 days – significantly slower than any month in the past 18. April more than made up for it with the average home selling after only 53 days on the market. Nearly always, spring sees a shorter time on the market and this year is definitely no exception. Buyers who are ready to buy need to act fast to be sure to get the home they want!

If you’re interested in purchasing a home in Kenilworth or the surrounding area, please see a complete list of homes at www.WayneZuhl.com. If you’re planning to sell your Kenilworth home, please call us at 908-917-4189 for a free comparative market analysis of your home.

For more information on Kenilworth Real Estate:

Will you be affected by the postponement of the Homestead Property Tax Relief?

 Are you one of the 1.6 million people who qualify for the New Jersey Homestead Property Relief Program?

  • Seniors and disabled residents receive, on average, $516 in property tax relief.
  • Resident homeowners earning less than $75,000 receive $402 in relief.

Do you pay more than the statewide average in property taxes?

  • The average is $8000.
  • Governor Christie passed a law nearly 4 years ago preventing property taxes from increasing more than 2% in any given year.

Why is the Relief being postponed?

  • The program costs the State $375 million per year.
  • The Governor’s reduced budget plan needs to slash that $375 million to close the gap between expenses and income.

What other budget items are being cut?

  • The State is cutting its contribution to the public employee pension system by $1.57 billion dollars, despite having agreed to increase pension fund contributions as recently as 2011.
  • Another $160 million will be cut from departmental spending and $15 million will be cut from NJ Transit funding.

 

Inventory sluggish in Garwood – is it time to buy?

Garwood, NJ, is a beautiful borough in central Union County. Home to fewer than 5,000 people, the town is served by one elementary school serving students in grades K-8. High school students attend Clark’s Arthur L. Johnson High School.

 

 

Inventory: There are currently 12 single family homes offered for sale in Garwood at an average list price of $328,958.  Last April there were 15 homes actively listed. The average inventory over the last 12 months is 14 listings, so inventory in Garwood is a bit low. This could be good news for home sellers as a low supply often leads to higher prices. 

 

 

 

Prices: 

  • Average sale price in April, 2014 – $339,000
  • Average sale price in April, 2013 –  $428,000
  • Average sale price April 2013-April 2014 – $312,026

On average, 1-3 homes are sold in Garwood per month. April had only 1 sale. Average sale prices, therefore, are less significant because there is a wide variety of home styles and conditions.


+Days on Market:

The average home that sold in Garwood in April was sold after only 21 days on the market. Again, because there are rarely more than 3 homes sold in one month, averages become less meaningful. 

 

If you’re a Garwood homeowner,  call or email us when you’re ready to get your home on the market! Good luck!

If you’re a Garwood homebuyer, click here to search current listings in Garwood and then call us for your private showing of your new home!

 

Team Zuhl is here to help you every step of the way. 

For more information on Garwood Real Estate:

Fanwood Real Estate News – May 2014

 fanwood inventory

Inventory: There are currently 38 homes offered for sale in Fanwood at an average list price of $459,500. Nine homes were sold in April. In 2013, the inventory got as high as 49 homes in May and as low as 25 homes in December.

fanwood prices

Prices: There were nine homes sold in April at an average sale price of $402,000. The average sale price over the last 12 months was $409,622 with the highest in July of 2013.

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Days on Market: March was sluggish in Fanwood with the average home selling after 111 days on the market. Things have certainly picked up in April when the average days on market was 72 days – still slower than the last 12 months average of 60 days.

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What does this mean to the home buyer or seller in Fanwood? Call Team Zuhl today!

For more information on selling a home:

For more information on Fanwood Real Estate:

The Spring Real Estate Market in Cranford

Cranford was listed as number 141 in NJ Monthly’s Top Towns List last year and Cranford High School is ranked as number 206 in the Nation.

cranford listingsInventory: There are currently 72 homes for sale in Cranford,  NJ, ranging in price from $199,000 to $960,000. Sixteen homes were sold in April which is about average for this time of year in Cranford.

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The average sale price of a home in Cranford in April was $464,288 significantly higher than in April of 2013.  A whopping 28% higher than the same time last year!

cranford domThe average home that sold in April was sold after 46 days on the market.  In the last year the average days on market is right around 50 days.  So April is a slight increase.

If you’re planning on selling your Cranford home, find out how much it is worth with a FREE Comparative Market Analysis by clicking here.

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 For more information on Cranford Real Estate:

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