Predictions for 2009 NJ Real Estate Market? (East Brunswick, Somerset: sale, buyers, FSBO)

[juliann1977]

Originally Posted by apvbguy

I've had a few through the house, 2 this week, one serious, one seems to be a looker. as the spring weather turns warmer we should see more traffic, my next door neighbors both are selling also, and the feedback from the looker was that mine is the best of the 3, and size wise and price wise I am in the middle. time will tell.
My buddy sold his colts neck house at listing in 1 week

That's great! It does seem like a house that requires a very specific kind of buyer, so hopefully it will sell soon. Based on all of the houses on the market in Sea Bright last summer at least, it seems like early summer is the time to sell waterfront properties.

[apvbguy]

Originally Posted by juliann1977

That's great! It does seem like a house that requires a very specific kind of buyer, so hopefully it will sell soon. Based on all of the houses on the market in Sea Bright last summer at least, it seems like early summer is the time to sell waterfront properties.

sea bright is a different animal, and with Kara going bankrupt leaving 20 or so homes unfinished didn't help matters.
you are correct spring/early summer is the big selling season here

[darylnb]

Originally Posted by kalim2008

You might wanna tell us where this hot market with savvy humble sellers is, cause we've been looking all around North/Central jersey (Watchung, Greenbrook, Bridgewater, Bernardsville, Mountainside, Morris Plains, Randolph, etc) since November 2007 and I have yet to see any of the houses we looked at being bought within weeks (although that's obiously possible if it is priced right - read, cheaply). Of the houses we liked, one house went under contract but then showed up again several weeks later, another was delisted, cause unknown, and a third did sell, but it was a view lot with a huge front lawn and great developer possibilities in Green Brook (it sold for $500k, but had originally been listed near $800k I think). Things will always sell, the question is how low will it sell for.....

East Brunswick

[juliann1977]

Originally Posted by apvbguy

sea bright is a different animal, and with Kara going bankrupt leaving 20 or so homes unfinished didn't help matters.
you are correct spring/early summer is the big selling season here

You mean Cottage Gate in Middletown, or is there another Kara community I'm unaware of? There must be another? I wouldn't think Cottage Gate would really affect you given it it isn't in the same price bracket or even remotely similar...

[CuCullin]

Originally Posted by Diane Giam

If you do only secure davings in a 401k you won't lose, just gain at a slower pace. That is what we are doing. I rather not gamble with my retirement money.
As far as savings, only do higher interest(4%0 money markets. There isn't any State tax on the interest here, there would be on stocks.

Diane G

Don't be mistaken - 401k's are a gamble too. They are *not* a guaranteed security, any more so than stocks. Your 401k is an investment in mutual funds which are composed of , bonds, money market investments, etc.

You don't get interest on stocks, and you'll only get a taxed when you sell (or get dividend profits) the stock. One or the other alone is not a good idea, a good retirement portfolio should include a diverse 401k (adjustments made regularly! Your 401k management company should rebalance for you, and should also let you do this if you choose), some of your own privately held stocks, bonds (I'd recommend something with a good coupon), mutual funds, a savings account with a good interest rate (ING for example, though you may also benefit from saving in an investment account - several offer very nice rates), as well as real estate.

[apvbguy]

Originally Posted by juliann1977

You mean Cottage Gate in Middletown, or is there another Kara community I'm unaware of? There must be another? I wouldn't think Cottage Gate would really affect you given it it isn't in the same price bracket or even remotely similar...

where the tradewinds beach club was, kara built 20+ homes, more than half are unsold and a few are not even finished

[juliann1977]

Originally Posted by apvbguy

where the tradewinds beach club was, kara built 20+ homes, more than half are unsold and a few are not even finished

Oh--that was Kara! I didn't even realize... When they tore down Tradewinds, I thought the builder would make money hand over fist. I hadn't noticed that they were unfinished because we never travel down Ocean Avenue that far. We go to Ship Ahoy.

[krusher]

Originally Posted by apvbguy

beware of zillow, they can be way off

Sure they can, but I bet they can spot trends better then your realtor can. So while the estimate on one home might be off, the trending up/down of a neighborhood/town/zip code is probably accurate.

[todd72173]

Originally Posted by apvbguy

where the tradewinds beach club was, kara built 20+ homes, more than half are unsold and a few are not even finished

So glad to hear that! I used to go to tradewinds all the time on weekends. The place was always packed...and it was so nice to hang outside.. Sad to see it go..Just like Long Branch pier got sold out to condos... Tradewinds sells out to more condos..trash...

[Bored2Day]

Originally Posted by kalim2008

You might wanna tell us where this hot market with savvy humble sellers is, cause we've been looking all around North/Central jersey (Watchung, Greenbrook, Bridgewater, Bernardsville, Mountainside, Morris Plains, Randolph, etc) since November 2007 and I have yet to see any of the houses we looked at being bought within weeks (although that's obiously possible if it is priced right - read, cheaply). Of the houses we liked, one house went under contract but then showed up again several weeks later, another was delisted, cause unknown, and a third did sell, but it was a view lot with a huge front lawn and great developer possibilities in Green Brook (it sold for $500k, but had originally been listed near $800k I think). Things will always sell, the question is how low will it sell for.....

I know of two families who's houses were only on the market for 2 weeks in South Brunswick. There does not seem to be a problem selling. Prices are still high too.