So is the sale of my home hopeless? (Summit, Morristown: assessors, mortgages)

[tahiti]

Originally Posted by JamesBoyer

I think as a real estate bubble has been explained and show to me, New Jersey did not have a Real Estate Bubble. A real estate bubble is much more than just price appreciation. It is the motives behind it, It is they types of buyers behind it. Your recognized real estate bubbles are in Florida, Arizona, Nevada, and Southern and Central Califonia. Think about what all those places had in common in the time period from 2002-2006. The typical buyer there looked way different from what the typical buyer looked like here in New Jersey.

As to how much NJ Real Estate went up during that time period, I think you would have to look lots more closely at the numbers, just as it is unfair to say that home prices have fallen substantially in a given town if in 2006 a good share of what was selling was 4+ bedroom 3+ bath McMansions, and then in 2008 a big chunk of what was selling was 2 bedroom 2 bath condos. Big difference in what those two segments of the market are worth.

Current prices are only justified on a case by case basis just like in any market.

I think that prices are currently falling anywhere from 0% to 1/2% a month depending on the town and the price segment. I believe it is more likely that the declines will be over in most towns by June of 09, than for them to continue into 2010.

I pointed out the errors in the study because the numbers looked very odd. I make it my business to know what is going on in the markets I specialize in. It would be hard to know what a good deal was if I did not. There are lots of Realtors out there like the one Tahiti asked about Harding who will shoot from the hip and don't really know. At least in my mind those are the Realtors to avoid. They really don't know a good deal when they see it.

I have faith in America, I believe that by June there will be clear signs that the economy is turning, that the major job losses will be mostly done, and that some of the people who are forced out of possitions will create new businesses that ultimately make this country stronger and better off.

With every storm comes a rainbow, and a new beginning.

OMG, LOL. You simply refuse to read or comprehend.

The figure I got was NOT about Harding. I don't live in Harding. I've said that at least 3 times.

You keep on insisting I live in, and my numbers, are about Harding. They.are.not. Please show my posts where I said I live in Harding and the price decline I mention is about Harding. Until then, stop the silliness.

[PD517]

Originally Posted by NatasNJ

Put the NJ.com numbers aside.

Just so I know what we are even debating...

1.) Do you think NJ real estate values bubbled between 2000-2006?
2.) Do you think most NJ real estate jumped up 100% or more in value between 2000-2006?
3.) Do you think CURRENT prices are justified?
4.) Do you think the prices in the NJ area will drop in the next 12 months? And if so by what % on avg?

There is no use trying to reason with someone who has a biased interest in what we are discussing. In this thread along with all the other real estate related threads on this forum people are presenting data backed up with PROOF, while he is coming off with nothing of value. Again when you are going to cite your MLS, post PROOF - export the data to an excel or PDF file or whatever way for all to see - then at least it will be debatable.

I laugh at questioning the NJ.com "article" - umm its not an article, its data pulled from the Department Of Taxation database. Real data. Of course there may be errors. I'm sure it's a "conspiracy" to alter every town's sales to make it look like real estate is always going up up up!


From the link that I provided earlier:
New Jersey by the Numbers - NJ.com

When choosing your town it clearly states:
"The Big Picture: This table shows annual residential sales data for INSERT TOWN NAME HERE.. It includes all fair-market sales -- as deemed by the local tax assessor -- of one-to four-family homes that occurred in the first six months of the given year. Interfamily transactions and other sales that were not made at market prices are excluded. Note that medians are more volatile in towns with few sales"


Guess what - it is not going to show EVERY sale that shows up in your little MLS. Please reread it again and exactly what it is showing you - fair market sales, 1-4 family homes, FIRST 6 months. Interfamily transactions and such are EXCLUDED. Do you know what that means? Ever see when a property is transferred to another family member and it is recorded at $1 - obviously those are not going to be counted. Wow again.


And if you would like to question the data, there is a nice little link right there called "About This Data". Here is what it states:


"The most common measure of real estate prices is a quarterly survey published by the National Association of Realtors. But that report only breaks sales data down to the regional level -- which isn't helpful if you want to see what's happening in your own town.

Every year, The Star-Ledger analyzes home sales data from another source, the Division of Taxation inside the state's Department of Treasury. As part of its regulatory mission, this agency collects information on every real estate transaction in the state, and its annual "Useable Sales" database is available to the public through the State's Open Records Act.

Because the state uses the data to determine the market value of real estate in each New Jersey town, all home sales are classified to show whether the transaction took place under fair market conditions, or whether there was another circumstance that impacted the price -- such as a transaction among family members.

The town by town data in this report is based on these transactions -- sales of residential property that are denoted as fair-market. Other sales listed in our neighborhood search tool are tagged with a "*". For more information on this topic, see page 7 of this Treasury Dept. document.

Because of the vast quantity of raw sales data that flows through this system, there are occasionally errors -- sales of vacant land, for example, are sometimes denoted as residential sales. Since these errors are few and far between, and since there is no way of finding every error without researching each transaction individually, the Star-Ledger analysis is based on the information contained in the database -- no records have been altered.

Also, in towns that are about to undergo a tax roll revaluation, all sales that take place in the final six months of the year are marked as "unusable", even if they were conducted under fair market conditions. For this reason, the annual sales averages for every town are based on the first six months of the year only -- this method provides a better apples-to-apples comparison of the market.

However, on parts of this site that list individual transactions, all sales are included."


Again, everyone here posting PROOF. You are discrediting yourself more and more everytime by not backing up your claims.

[JamesBoyer]

Originally Posted by NatasNJ

What has a real estate bubble been explained and shown to you?
Cause if you compare the past 8 years there has been price increases WELL above historic norms.
Is that not a bubble? Or are you saying since prices haven't dropped back down at the same record pace that it is not techincally a bubble? (Cause there has been several reasons that prices have not dropped quicker due to government regulation)

And I think you are putting WAY too much weight on the "types of houses" being sold skewing the numbers.

No slams on you for being positive and thinking that we this country will get through this and be better off on the other end. I think we all HOPE that is the case and the sooner the better no doubt. Not sure how that is really related to the NJ bubble aspect discussion but ok.

Real Estate bubbles in each of the cases had price appreciation in the range of 200% to 300%, with rampant speculative new construction building as many as 40% more housing units being added to the overall market.

Many people (unsophisticated buyers, people who have no real estate as an investment experence) purchasing new construction units on spec before construction even started, hoping they could turn around and sell their purchases before the construction was even done for enough more to cover all their purchase and sale expenses. Not talking about a few hundred people doing this, talking about 10's of thousands of people doing this.

In those real estate bubble markets they also had as many as 50% of their buyers using some combination of the following, using stated income loans (Liar Loans, No Doc Loans) Sub-prime 2 year arm loans, 103% to 106% financing loans, 100% financing interest only loans.

There are some other factors but what I have listed above were the major factors.

What I have described was totally not the case here in New Jersey during the time period from 2000 - 2006. At least not Morris County, Essex County, Union County, or Somerset County. I don't know the populations of all those Counties but I think there are about 4 million people in those 4 counties, almost half of New Jersey by population.

[halfoffpeak]

Originally Posted by JamesBoyer

The numbers in this nj.com article have some issues that have me questioning the validity of it.

Yes their issue is not conforming with your fantasy. It's called denial.

What's the point of contradicting and arguing if you have no data to substantiate your point of view. Don't you see that this will hurt your business. I for one would never hire a RE agent who is so disconnected from reality and/or argues for the point of arguing.

[gradstudent77]

JamesBoyer...I think most people would call 100% appreciation in RE values over 5 years, especially over a large region to be a bubble. Whatever you want to call it, it is unsustainable.

[JamesBoyer]

Originally Posted by tahiti

OMG, LOL. You simply refuse to read or comprehend.

The figure I got was NOT about Harding. I don't live in Harding. I've said that at least 3 times.

You keep on insisting I live in, and my numbers, are about Harding. They.are.not. Please show my posts where I said I live in Harding and the price decline I mention is about Harding. Until then, stop the silliness.

Tahiti, read lady read. am I saying you live in harding in the statment you quoted? NO

Are you saying that you did not say that prices had dropped 20% - 25% according to a Realtor friend of yours???

[NatasNJ]

Originally Posted by JamesBoyer

Real Estate bubbles in each of the cases had price appreciation in the range of 200% to 300%, with rampant speculative new construction building as many as 40% more housing units being added to the overall market.

Many people (unsophisticated buyers, people who have no real estate as an investment experence) purchasing new construction units on spec before construction even started, hoping they could turn around and sell their purchases before the construction was even done for enough more to cover all their purchase and sale expenses. Not talking about a few hundred people doing this, talking about 10's of thousands of people doing this.

In those real estate bubble markets they also had as many as 50% of their buyers using some combination of the following, using stated income loans (Liar Loans, No Doc Loans) Sub-prime 2 year arm loans, 103% to 106% financing loans, 100% financing interest only loans.

There are some other factors but what I have listed above were the major factors.

What I have described was totally not the case here in New Jersey during the time period from 2000 - 2006. At least not Morris County, Essex County, Union County, or Somerset County. I don't know the populations of all those Counties but I think there are about 4 million people in those 4 counties, almost half of New Jersey by population.

While I don't disagree that the new construction helped inflate certain cities/areas into even WORSE situations/bubbles, it doesn't mean that NJ itself didn't experience a bubble itself. Based on historic NORMS NJ had a bubble. Most areas in NJ if not all are still due a correction.

[JamesBoyer]

Originally Posted by PD517

There is no use trying to reason with someone who has a biased interest in what we are discussing. In this thread along with all the other real estate related threads on this forum people are presenting data backed up with PROOF, while he is coming off with nothing of value. Again when you are going to cite your MLS, post PROOF - export the data to an excel or PDF file or whatever way for all to see - then at least it will be debatable. just because NJ.com publishes something does not mean it is proof.

I laugh at questioning the NJ.com "article" - umm its not an article, its data pulled from the Department Of Taxation database. Real data. Of course there may be errors. I'm sure it's a "conspiracy" to alter every town's sales to make it look like real estate is always going up up up! I question it because it has problems. Just like I would question any obviously bad data.


From the link that I provided earlier:
New Jersey by the Numbers - NJ.com

When choosing your town it clearly states:
"The Big Picture: This table shows annual residential sales data for INSERT TOWN NAME HERE.. It includes all fair-market sales -- as deemed by the local tax assessor -- of one-to four-family homes that occurred in the first six months of the given year. Interfamily transactions and other sales that were not made at market prices are excluded. Note that medians are more volatile in towns with few sales" If they miss as many as 50% of the sales, how valid is this picture??


Guess what - it is not going to show EVERY sale that shows up in your little MLS. Please reread it again and exactly what it is showing you - fair market sales, 1-4 family homes, FIRST 6 months. Interfamily transactions and such are EXCLUDED. Do you know what that means? Ever see when a property is transferred to another family member and it is recorded at $1 - obviously those are not going to be counted. Wow again.

Excuse me, GSMLS has about 50% of the listings in the state of New Jersey. I dare say every home listed for sale with a Realtor in Morris County, Essex County, & Union County will be listed in GSMLS.


And if you would like to question the data, there is a nice little link right there called "About This Data". Here is what it states:


"The most common measure of real estate prices is a quarterly survey published by the National Association of Realtors. But that report only breaks sales data down to the regional level -- which isn't helpful if you want to see what's happening in your own town.

Every year, The Star-Ledger analyzes home sales data from another source, the Division of Taxation inside the state's Department of Treasury. As part of its regulatory mission, this agency collects information on every real estate transaction in the state, and its annual "Useable Sales" database is available to the public through the State's Open Records Act.

Because the state uses the data to determine the market value of real estate in each New Jersey town, all home sales are classified to show whether the transaction took place under fair market conditions, or whether there was another circumstance that impacted the price -- such as a transaction among family members.

The town by town data in this report is based on these transactions -- sales of residential property that are denoted as fair-market. Other sales listed in our neighborhood search tool are tagged with a "*". For more information on this topic, see page 7 of this Treasury Dept. document.

Because of the vast quantity of raw sales data that flows through this system, there are occasionally errors -- sales of vacant land, for example, are sometimes denoted as residential sales. Since these errors are few and far between, and since there is no way of finding every error without researching each transaction individually, the Star-Ledger analysis is based on the information contained in the database -- no records have been altered.

Also, in towns that are about to undergo a tax roll revaluation, all sales that take place in the final six months of the year are marked as "unusable", even if they were conducted under fair market conditions. For this reason, the annual sales averages for every town are based on the first six months of the year only -- this method provides a better apples-to-apples comparison of the market.

However, on parts of this site that list individual transactions, all sales are included."


Again, everyone here posting PROOF. You are discrediting yourself more and more everytime by not backing up your claims. Really, everyone is posting Proof?? right. Well your so called proof has lots of holes in it. Oh as you look at the data, notice there are not any family member to family member for $1 transfers, there are no FSBO direct to home buyer transfers ether, just arms length transfers sold through a Realtor.

Not going to respond to the others, but I will respond to you on this one.

I am not in denial, I know that stats can be made to lie. I know that what ever they pulled for this little tool they have is what they pulled. I question how it can be so far off. How could they miss 50% of the home sale and transfers for an entire town?

OK, here are the raw transfers for Morris Twp for the first 6 months of 2007. you do the calculations.

# ML # TOWN ADDRESS LP STYLE SP
1 2397665 Morris Twp. 5 CENTER AVE UNIT 2 $219,900 TwnIntUn $219,900
2 2364513 Morris Twp. 515 PITNEY PL $230,000 TwnEndUn $215,000
3 2387192 Morris Twp. 419 PITNEY PL $239,900 OneFloor $237,000
4 2373811 Morris Twp. 611 Pitney Place $248,900 OneFloor $235,000
5 2370416 Morris Twp. 11 Carlton Street $295,000 Ranch $305,000
6 2336492 Morris Twp. 4 Livingston Road $319,999 TwnEndUn $308,500
7 2407752 Morris Twp. 67 VILLAGE DR $329,900 OneFloor $322,500
8 2310298 Morris Twp. 116 FAIRCHILD AVE $332,000 Colonial $320,000
9 2319889 Morris Twp. 4 Carlton St $349,950 Ranch $333,000
10 2395751 Morris Twp. 33 E HANOVER AVE $350,000 CapeCod $326,000
11 2374928 Morris Twp. 80 Village Drive $359,000 OneFloor $335,000
12 2329629 Morris Twp. 99 KITCHELL RD $365,000 HalfDupl $330,000
13 2313095 Morris Twp. 88 Village Drive $365,000 TwnIntUn $350,000
14 2362953 Morris Twp. 1 WITHERSPOON CT $372,500 TwnEndUn $371,250
15 2347292 Morris Twp. 25 Witherspoon Ct $374,900 TwnEndUn $357,500
16 2318595 Morris Twp. 24 GREGORY AVENUE $379,900 Colonial $362,500
17 2323747 Morris Twp. 410 SOUTH STREET $379,900 Colonial $375,000
18 2316889 Morris Twp. 5C Leva Drive $380,000 OneFloor $376,000
19 2392671 Morris Twp. 84 Village Dr $384,900 OneFloor $378,500
20 2336761 Morris Twp. 79 BURNHAM RD $387,500 Colonial $369,000
21 2371071 Morris Twp. 172 WESTERN AVE $389,500 Colonial $375,000
22 2377169 Morris Twp. 350 SUSSEX AVE $399,000 CapeCod $380,000
23 2347752 Morris Twp. 222 WEST HANOVER AVENUE $399,000 RanchRas $380,000
24 2401824 Morris Twp. 5 Florence Avenue $399,900 Colonial $375,000
25 2387243 Morris Twp. 63 WILDFLOWER LN $399,900 TwnEndUn $415,000
26 2325648 Morris Twp. 29 Witherspoon Ct. $399,999 TwnEndUn $390,000
27 2374750 Morris Twp. 33 Kennedy Road $399,999 CapeCod $392,500
28 2311324 Morris Twp. 28 Highland Avenue $400,000 Ranch $350,000
29 2388415 Morris Twp. 22 HATHAWAY RD $409,900 Colonial $387,500
30 2333665 Morris Twp. 10 ALBERT AVE $409,900 CapeCod $397,500
31 2376876 Morris Twp. 36 WITHERSPOON CT $415,000 TwnIntUn $400,000
32 2350236 Morris Twp. 18 IRONDALE AVE $417,000 Bi-Level $395,000
33 2314347 Morris Twp. 10 BRIANT AVE $419,000 CapeCod $410,000
34 2352089 Morris Twp. 14 Keats Way $419,900 TwnIntUn $415,000
35 2300351 Morris Twp. 40 HIGHLAND AVE $420,000 RanchRas $410,000
36 2327725 Morris Twp. 53 Hancock Drive $424,500 TwnEndUn $416,000
37 2348253 Morris Twp. 1 Wildflower Lane $424,500 TwnEndUn $413,036
38 2311141 Morris Twp. 97 BURNHAM RD $424,800 Colonial $402,000
39 2318387 Morris Twp. 30 W HANOVER AVE $424,900 Colonial $400,000
40 2341960 Morris Twp. 6 FLORENCE AVE $425,000 Colonial $400,000
41 2336169 Morris Twp. 22 Wildflower Lane $429,000 TwnEndUn $415,000
42 2367252 Morris Twp. 51 Wildflower Lane $434,900 TwnEndUn $430,000
43 2318430 Morris Twp. 16 TIMOTHY CT $435,000 TwnIntUn $410,000
44 2362114 Morris Twp. 22 WATNONG RD $439,900 CapeCod $424,000
45 2364974 Morris Twp. 14 Briant Ave $440,000 CapeCod $429,000
46 2382052 Morris Twp. 39 WILDFLOWER LN $444,900 TwnEndUn $425,000
47 2328648 Morris Twp. 56 FAIRMOUNT AVE $445,000 CapeCod $449,000
48 2359829 Morris Twp. 14 WILDFLOWER LN $449,000 TwnIntUn $449,900
49 2364223 Morris Twp. 71 FAIRCHILD AVE $449,900 Ranch $437,500
50 2349923 Morris Twp. 7 TIMOTHY CT $449,900 TwnEndUn $440,000
51 2384307 Morris Twp. 17 CAROLINE FOSTER COURT $449,900 TwnIntUn $440,000
52 2314649 Morris Twp. 14 Prospect Pl $449,900 Colonial $440,000
53 2344369 Morris Twp. 73 Wildflower Lane $449,900 TwnIntUn $444,000
54 2381901 Morris Twp. 30 FAIRMOUNT AVE $454,900 CapeCod $450,000
55 2365927 Morris Twp. 6 DEGAN LANE $454,900 Colonial $448,000
56 2282543 Morris Twp. 4 TERRY DR $460,000 SplitLev $423,000
57 2381758 Morris Twp. 75 Wildflower Lane $464,000 TwnIntUn $455,000
58 2402518 Morris Twp. 24 Mill Road $465,000 Colonial $435,000
59 2302508 Morris Twp. 17 VALLEY VIEW ST $465,000 Ranch $430,000
60 2359599 Morris Twp. 95 Columbia Road $472,888 CapeCod $465,000
61 2321180 Morris Twp. 127 Hillcrest Avenue $479,000 Custom $455,000
62 2355732 Morris Twp. 97 WOODLAND AVENUE $484,900 Colonial $477,500
63 2376312 Morris Twp. 15 MOLLY STARK DR $489,000 Ranch $472,500
64 2385799 Morris Twp. 21 Ellsworth Avenue $497,500 Ranch $490,000
65 2320279 Morris Twp. 5 ALBERT AVE $498,200 Colonial $485,000
66 2371692 Morris Twp. 125 Hillcrest Ave $499,000 Ranch $500,000
67 2389285 Morris Twp. 17 W. Lake Blvd $499,000 SplitLev $475,000
68 2384287 Morris Twp. 5 Symor Dr.@BrothersPl. $499,000 SplitLev $499,000
69 2381178 Morris Twp. 5 LYNNFIELD DR $499,000 Ranch $490,000
70 2337470 Morris Twp. 14 SHERMAN AVENUE $499,500 Colonial $477,500
71 2381722 Morris Twp. 4 Plymouth Rd. $499,900 Colonial $490,000
72 2315706 Morris Twp. 3 Morris Place $499,900 Ranch $472,500
73 2343298 Morris Twp. 145 Woodland Ave $499,900 SplitLev $485,000
74 2321532 Morris Twp. 85 Fairmount Avenue $499,900 Ranch $499,900
75 2394139 Morris Twp. 44 BYRON AVE $509,000 TwnIntUn $509,000
76 2372095 Morris Twp. 25 Independence Way $515,000 TwnIntUn $515,500
77 2367898 Morris Twp. 630 W HANOVER AVE $524,900 Colonial $500,000
78 2331898 Morris Twp. 33 BROOKFIELD WAY $529,000 SplitLev $503,500
79 2369605 Morris Twp. 24 Pilgrim Court $529,000 TwnIntUn $514,000
80 2366778 Morris Twp. 60 Burnham Parkway $534,900 Bi-Level $505,000
81 2385198 Morris Twp. 83 FAIRMOUNT $539,900 SplitLev $525,000
82 2332844 Morris Twp. 4 WYNDMOOR DR $549,000 Ranch $500,000
83 2379070 Morris Twp. 48 CENTER AVENUE $549,000 Colonial $525,000
84 2361834 Morris Twp. 111 WOODLAND AVE $549,900 RanchRas $542,500
85 2304590 Morris Twp. 20 Lynnfield Drive $550,000 Colonial $525,000
86 2353595 Morris Twp. 27 Independence Way $550,000 TwnIntUn $540,000
87 2348657 Morris Twp. 50 INDEPENDENCE WAY $555,000 TwnIntUn $532,500
88 2375681 Morris Twp. 4 INDEPENDENCE WAY $555,000 TwnIntUn $545,000
89 2375982 Morris Twp. 46 KEATS WAY $559,000 TwnEndUn $552,500
90 2355913 Morris Twp. 10 SKYLINE DR $560,000 Contemp $550,000
91 2371126 Morris Twp. 63 Fairmount Ave $564,900 Colonial $548,000
92 2323759 Morris Twp. 37 BAILEY HOLLOW RD $574,900 RanchExp $555,000
93 2328290 Morris Twp. 19 TERRY DR $574,900 SplitLev $551,250
94 2338616 Morris Twp. 45 SKYLINE DR $574,900 Ranch $625,000
95 2395994 Morris Twp. 51 Mendham Avenue $575,000 Colonial $550,000
96 2346349 Morris Twp. 109 Woodland Avenue $579,000 Colonial $590,000
97 2308879 Morris Twp. 14 E FAIRFIELD DR $585,000 SplitLev $550,000
98 2394619 Morris Twp. 13 Normandy Blvd.West $595,000 SplitLev $580,000
99 2393661 Morris Twp. 9 Gatehouse Court $599,000 TwnEndUn $585,000
100 2291120 Morris Twp. 4 Crescent Drive $599,999 CapeCod $570,000
101 2359774 Morris Twp. 17 Colonel Evans Dr. $599,999 Colonial $600,000
102 2417022 Morris Twp. 32 CHIMNEY RIDGE DRIVE $605,000 Ranch $605,000
103 2366842 Morris Twp. 15 KNOLLWOOD DR $609,999 Colonial $550,000
104 2330434 Morris Twp. 20 Davenport Place $612,000 TwnEndUn $612,000
105 2365913 Morris Twp. 19 STONEHENGE ROAD $614,900 Colonial $602,000
106 2388062 Morris Twp. 19 KITCHELL RD $619,000 Ranch $645,000
107 2304284 Morris Twp. 20 Sherwood Drive $619,000 TwnEndUn $619,000
108 2373246 Morris Twp. 60 Pippins Way $620,000 FirstFlr $615,000
109 2398044 Morris Twp. 4 TERRY DR $629,000 SplitLev $615,000
110 2383432 Morris Twp. 41 CONSTITUTION WAY $629,000 TwnEndUn $603,000
111 2368083 Morris Twp. 15 Lord William Penn Drive $629,900 Contemp $604,500
112 2394181 Morris Twp. 2 Buckley Hill Road $630,000 Colonial $600,000
113 2311182 Morris Twp. 58 CENTER AVE $634,900 Colonial $610,500
114 2378419 Morris Twp. 20 BUTTERWORTH DRIVE $635,000 Colonial $622,500
115 2361242 Morris Twp. 15 WARWICK RD $639,500 Colonial $625,000
116 2366773 Morris Twp. 7 OLD GLEN RD $649,000 Colonial $625,000
117 2391850 Morris Twp. 9 SUDBERRY DR $649,900 SplitLev $643,500
118 2306099 Morris Twp. 41 Wood Road $649,999 SplitLev $650,000
119 2327986 Morris Twp. 5 FLINTLOCK RUN $659,000 SplitLev $654,000
120 2395210 Morris Twp. 21 Black Watch Trail $659,900 Colonial $659,900
121 2319192 Morris Twp. 38 Blackberry Lane $674,500 Ranch $621,900
122 2380901 Morris Twp. 2 Braidburn Way $682,500 Colonial $650,000
123 2317070 Morris Twp. 11 Strawberry Lane $685,000 Colonial $670,000
124 2380168 Morris Twp. 7 STONEHENGE RD $688,000 Ranch $678,000
125 2404780 Morris Twp. 7 COLONIAL $689,000 Colonial $677,500
126 2332504 Morris Twp. 6 PEACH TREE WAY $697,800 Colonial $680,000
127 2330488 Morris Twp. 18 ARROWHEAD RD $699,000 SplitLev $640,000
128 2314674 Morris Twp. 30 Meslar Road $699,000 RanchExp $640,000
129 2382933 Morris Twp. 17 RAMBLING WOODS DR $709,000 Colonial $704,000
130 2363712 Morris Twp. 18 Old Glen Road $725,000 RanchExp $725,000
131 2346809 Morris Twp. 4 Beechwood Drive $749,900 Colonial $705,000
132 2337657 Morris Twp. 20 Concord Lane $750,000 SplitLev $725,000
133 2376452 Morris Twp. 14 GREEN KNOLLS RD $759,900 SplitLev $730,000
134 2376363 Morris Twp. 4 CRESTVIEW TER $769,000 RanchExp $722,500
135 2381519 Morris Twp. 25 Bennington Road $775,000 Colonial $775,000
136 2308691 Morris Twp. 48 Byron Avenue $795,000 Contemp $773,250
137 2365364 Morris Twp. 6 FOX CHASE LN $809,000 Colonial $767,500
138 2370140 Morris Twp. 51 FIELDSTONE DR $809,000 Colonial $780,000
139 2388575 Morris Twp. 2 STRATFORD CT $819,000 Colonial $785,000
140 2360193 Morris Twp. 64 Fanok Rd. $824,900 Colonial $827,100
141 2375579 Morris Twp. 11 ARROWHEAD RD $829,000 Colonial $829,000
142 2323791 Morris Twp. 7 Blackwatch Trail $849,000 Colonial $812,500
143 2283442 Morris Twp. 34 Mountainside $860,000 Colonial $845,000
144 2383498 Morris Twp. 51 SCHOOL HOUSE LN $870,000 Custom $870,000
145 2332678 Morris Twp. 15 Sylvan Way $899,000 Colonial $855,000
146 2382505 Morris Twp. 25 Aspen Way $899,999 Colonial $899,999
147 2352672 Morris Twp. 8 QUAKER RIDGE RD $975,000 Colonial $1,099,500
148 2334206 Morris Twp. 31 SPRING BROOK RD $999,999 Colonial $999,999
149 2310845 Morris Twp. 52 School House Lane $999,999 Colonial $950,000
150 2339809 Morris Twp. 33 EGBERT AVENUE $1,099,000 Colonial $1,055,000
151 2292671 Morris Twp. 15 HAMILTON AVE $1,099,000 Colonial $1,080,000
152 2304099 Morris Twp. 2 Bettin $1,149,000 Colonial $1,100,000
153 2375382 Morris Twp. 23 ARMSTRONG RD $1,175,000 Colonial $1,125,000
154 2319559 Morris Twp. 13 East Cove Lane $1,190,000 Colonial $1,075,000
155 2316591 Morris Twp. 6 Raynor Road $1,250,000 Custom $1,225,000
156 2380748 Morris Twp. 22 OAK PARK DR $1,250,000 Custom $1,120,000
157 2335027 Morris Twp. 66 SPRING BROOK RD $1,285,000 Colonial $1,265,000
158 2357429 Morris Twp. 14 OLD ARMY POST RD $1,295,000 Custom $1,242,500
159 2362704 Morris Twp. 33 Laura Lane $1,299,000 Colonial $1,299,000
160 2307793 Morris Twp. 19 Spencer Drive $1,374,900 Colonial $1,340,000
161 2271944 Morris Twp. 15 HOLMES CT $1,589,000 Colonial $1,589,000
162 2357351 Morris Twp. 3 Carriage Hill Drive $1,785,000 TwnEndUn $1,767,000
163 2362444 Morris Twp. 6 ARMSTRONG RD $1,895,000 Colonial $1,875,000
164 2321238 Morris Twp. 27 Kitchell $1,995,000 Colonial $1,860,000

and no i am not going to clean up the data, but the first number is the data number, secnond number is the MLS number, third is the property number then street, then 4th number is the list price, the last number is sold price.

164 home sales during that period. don't believe me call another Realtor and ask them.

[JamesBoyer]

You all can go on believing what you want. Things are what they are. if you want to call NJ a bubble well you can if you want, but then you likely need to call most every state a bubble, and I really don't think that is accurate.

On the same account I could call you all communists, but am I being accurate? probably not, but I can still do it.

[JamesBoyer]

Originally Posted by PD517

There is no use trying to reason with someone who has a biased interest in what we are discussing. In this thread along with all the other real estate related threads on this forum people are presenting data backed up with PROOF, while he is coming off with nothing of value. Again when you are going to cite your MLS, post PROOF - export the data to an excel or PDF file or whatever way for all to see - then at least it will be debatable.

Please do not imply that I am a lier again. I do not appreciate it. I have posted accurate numbers. If you do not believe them, call up someone else and see if they will send you the information. If you don't like the numbers I have posted, well I am sorry, I have posted what is there, they are what they are.

My interest in this is the accuracy of the data and the statments. I feel that many of the statments being made in this thread and others are not accurate or based in fact. To imply that New Jersey will fall as hard as Florida falls, is a very big strech in my opinion.