Housing prices in the New York metropolitan area, which includes North Jersey, remained flat in October and fell 7.7 percent compared with October 2008, reported the Standard & Poors/Case-Shiller Home- Price Indices. Case-Shiller does not break down sales by county. But figures from the New Jersey Multiple Listing Service show median single- family home prices in Bergen County at $439,500 in October, down 2.9 percent from a year earlier.
Short sales typically take a long time. But Kamal George Fattal, after months of complying with a major bank's multiple and often duplicate requests for financial documentation, finally bought a short-sale home by switching to a smaller lender that recognized his suitability for a mortgage. Fattal, his wife and four children ages 10 to 16 have been living in a 1,200-square-foot home in Clifton, with the kids doubled up in rooms filled by their beds. Fattal found a 3,700-square-foot, five- bedroom house in the Pines Lake community in Wayne by scouring the New Jersey Multiple Listing Service.
When shopping for a house, research is critical. While real estate agents and the New Jersey Multiple Listing Service provide important information, buyers should not neglect another helpful source: their friends. I'm a professional who knows the business and knows the area," remarks Matthew Goldman of Russo Real Estate in Teaneck, "but I don't know you, and I don't know your family -- just what I've gotten from a few conversations. Your friends know you better than I do, and you trust them. Sometimes friends will tell a client, 'You need this and that,' and it'll be the same thing I've told them three times, and now they believe it.
Good news for buyers, bad news for sellers: Home prices in North Jersey and nationwide are likely to continue to fall in the first half of 2009, and stay flat for several years after that, analysts say. Prices for existing homes, which make up the bulk of the market, dropped about 7.5 percent in North Jersey in 2008 from 2007's numbers, according to data from Standard & Poor's Case-Shiller indexes and the New Jersey Multiple Listing Service. But home values in this region are still almost double what they were in 2000, before the housing boom began.
Potential home buyers who scan the New Jersey Multiple Listing Service Web site can now see addresses for homes whose sellers allow it. Information for homes listed publicly for sale on the NJMLS site now may include addresses along with the number of bedrooms, baths, asking price and a summary of key features. The site displays homes in the state's 21 counties.
Three-bedroom, three-bath ranch in Moonachie has hardwood floors, living, dining and recreation rooms, entry foyer, attached, two-car garage, walk-in closet in master bedroom; walk-up attic is partially finished. Fenced-in backyard has patio. New Jersey Multiple Listing Service (njmls.com) No. 2833479. Listed by: Madelin Zapata, Century 21 on the River Realty, Edgewater. Four-bedroom, 2 1/2-bath Colonial in Glen Rock has fireplace, hardwood floors, first-floor master bedroom with bath, full, finished basement with storage and half bath, detached, two-car garage, new vinyl siding, furnace, deck, landscaping and carpeting. Newer kitchen appliances. New Jersey Multiple Listing Service (njmls.com) No. 2837878. Listed by: Jennifer Casper and Lori Lettieri, Coldwell Banker, Ridgewood.
Three-bedroom, two-bath wood shake and fabricated stucco Colonial in Ringwood on Erskine Lake has stone fireplace, hardwood floors, eat-in kitchen, sliders to deck, partial, unfinished basement, dock for swimming, fishing or boating. New Jersey Multiple Listing Service (njmls.com) No. 2828724. Listed by: Lynn Horbatuck, Re/Max Traditions Real Estate, Oakland. Three-bedroom, 2 1/2-bath town house in Teaneck in Glenpointe has hardwood floors, laundry in-unit, first-floor master bedroom, patio, fireplace, one parking space outside, pets OK. Complex has 24-hour doorman, tennis, pool. New Jersey Multiple Listing Service (njmls.com)No. 2840654. Listed by: Madeleine Thier, Coldwell Banker, Tenafly.
If you look at some of the homes for sale at the top of the market in North Jersey, there are plenty of reasons to be glum. There's the Englewood mansion that was originally listed for $19.5 million, still on the market 2 1/2 years later, now slashed to $11.5 million.
...But the statistics behind the listings show that things are starting, ever so slightly, t...According to the New Jersey Multiple Listing Service, from January to November of this ...
The colonial for sale on Stasia Lane in Teaneck has what Realtor Julia Morrill calls "picture-perfect curb appeal. Listed at $259,000, the three-bedroom, two-bath home looks cheery and smart from the outside. But the interior does need a little work, she admits, including the kitchen, which some would lovingly label "vintage," and others would call "ancient."
...Last week on the New Jersey Multiple Listing Service website, there were 304 s...
... section incorrectly implied that the New Jersey Multiple Listing Service is working with the compa...
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