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Archive for August, 2009

Existing Home Sales Rise at Record Pace in July

August 27th, 2009 categories:Real Estate News and Advice

New Home Sales Gained for the Fourth Straight Month and Existing Home Sales Fared Even Better

Existing single family home sales were up 7.2% in July, compared with June and up 5% from July of ‘08.  This is the largest  gain for existing home sales, a number tracked by the National Association of Realtors, since 1999.  Also for the first time in five years, new home sales have increased for four months in a row.

The national home inventory level is down to an average of 7.5 months and experts say homes have not been this affordable in a generation.

These upbeat reports may be the sign everyone has been waiting for.  It may be time to make a move on that Ridgewood Home you have been coveting – before the market spikes again – as we all know it eventually will.

Related Articles

New Jersey Home Sales Rise for Sixth Month In a Row

Mortgage Applications, Building Permits and Housing Starts All Rise

Ridgewood Home Sales Report – A Week of Lucky 7’s (Aug. 8th – 14th)

About Al Donohue

Contact Al at 201.906.3287 or aldonohue@optonline.net

Al Donohue heads up Marron Gildea & Donohue’s Ridgewood office and is one of the top agents in Bergen County.

ibs-photo.jpg

Al attributes much of his success to lessons learned during his years as a top sales executive on Wall Street. Most of Al’s clients are busy professionals and business owners and they love the fact that he speaks their language and understands the incredible demands on their time. Al stays in constant touch with his clients not only through phone calls and face-to-face meetings but also through email, instant messaging, and web pages created specifically for his clients. Clients can view the status of the sale of their home, read feedback from agents that have shown their home and review the status of their personal marketing plan 24-hours-a-day via their personal web page.

Al understands that technology is just a tool and says it is really his focus on providing world class customer service that has enabled him to achieve great results for his clients. He says the key to his success has been his ability to listen more than he speaks and always put the needs of his

Post

Posted by Al Donohue | Discussion:No Comments »

Ridgewood Home Sales Report – A Week of Lucky 7’s (Aug. 8th – 14th)

August 16th, 2009 categories:Ridgewood Real Estate

Ridgewood Real Estate’s Week of Lucky Sevens

  • Seven Ridgewood Homes were listed for sale this week.
  • Seven Ridgewood Homes went under contract this week.
  • Severn Ridgewood Homes were Sold this week.

It was a pretty consistent week in Ridgewood Real Estate.  Not only did we have the exact same number of homes in all three categories but the average price in each category was also very similar this week (8/8 – 8/14).  See below:

Average Prices:

New Listings:      $677,700
Under Contract:  $629,643
Sold:                       $670,971

Click Here to view the details on all homes listed below.

Street # Street Name Bedrooms Status Days on Market Style Price*
426 JACKSON 3 Active 8 C/C $542,000
560 VAN BUREN 3 Active 7 S/L $569,000
537 BANTA 5 Active 4 S/L $599,000
186 LINCOLN 4 Active 4 S/L $670,000
683 EASTERN 4 Active 7 COL $695,000
443 WASTENA 4 Active 5 COL $779,000
120 HIGHLAND 4 Active 7 COL $889,900
481 GROVE 4 Under Contract 11 C/C $428,800
642 GLEN 2 Under Contract 64 RANCH $475,000
315 WALTHERY 2 Under Contract 57 RANCH $498,800
488 GROVE 3 Under Contract 186 COL $549,900
416 COLWELL 4 Under Contract 16 RANCH $559,000
435 GLEN 5 Under Contract 85 COL $799,000
136 MONROE 4 Under Contract 15 COL $1,097,000
458 NORTHERN 3 Sold 112 B/L $535,000
485 FRANKLIN 3 Sold 29 COL $582,000
453 GLEN 4 Sold 173 S/L $525,000
390 BERKSHIRE 4 Sold 18 COL $642,000
231 BOGERT 5 Sold 70 COL $643,000
184 KATHERINE 3 Sold 65 COL $767,500
227 MCKINLEY 5 Sold 24 RANCH $830,000
             
 * For Ridgewood homes marked Active, Attorney Review or Under Contract “Price” refers to 
the list price.  For homes marked Sold, “Price” refers to the final sale price.  

 

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The properties in this blog post were listed and sold by various participants of the NJMLS based on information from the New Jersey Multiple Listing Service, Inc. for the period of August 8th through August 14th 2009. 

Posted by Al Donohue | Discussion:No Comments »

Ridgewood Real Estate Update – Smooth Transactions and a Dumb Question (Aug. 1st – Aug. 7th)

August 10th, 2009 categories:Ridgewood Real Estate

How Many Days Does the 3 Day Attorney Review Period Last? 

Nope.  You are wrong. Read On.

3 Days?

3 Days?

Ridgewood Sees Some Green Shoots

The real estate industry has recently begun to see some “green shoots” and Ridgewood is doing significantly better than the national average – by almost every metric.  One by-product of the difficult real estate market is that the transactions themselves have become more difficult for both buyers and sellers.  This is reflected in transactions taking longer to complete the “attorney review” process, more contentious negotiations over home inspection issues and, in some cases, in deals just completely falling apart. 

So, I was delighted to see that of the 5 Ridgewood Homes that entered the Attorney Review phase, in the 7 day period covered in this report, 4 have already moved to the “Under Contract” phase.  This means that the buyers, sellers and their attorneys have approved the contracts and  have agreed to move forward.  This may not sound impressive becuase most folks think the 3 Day Attorney Review period actually lasts 3 days but that is where they are wrong.  Once both sides engage an attorney things can last much longer.  Click here for a full explanation of the Attorney Review Period.

 

Ridgewood Real Estate Transactions – August 1st – August 7th

Click Here to view the details on all homes listed below.

7 new listings.
5 homes marked as being in “attorney review” (4 of which moved to Under Contract)
8 homes went under contract.
5 homes were sold.

Street # Street Name Bedrooms Status Days on Market 2008 Taxes Home Style Price*
687 ELLINGTON 3 Active 6 $7,982 C/C $445,900
274 GLEN 4 Active 8 $7,450 C/C $469,000
678 SPRING 3 Active 10 $9,752 RANCH $595,000
230 HILLCREST 3 Active 10 $10,117 COL $659,900
43 GLEN 4 Active 5 $13,166 COL $675,000
441 ALPINE 4 Active 6 $12,328 COL $779,000
729 MARY ANN 5 Active 4 $20,813 COL $1,135,000
416 COLWELL 4 Attorney Review 13 $11,332 RANCH $559,000
11 MONROE 2 Under Contract 121 $8,429 COL $349,900
481 GROVE 4 Under Contract 11 $9,160 C/C $428,800
469 GEORGE 3 Under Contract 99 $10,289 S/L $549,000
530 BENNINGTON 3 Under Contract 107 $9,600 RANCH $595,000
374 VAN EMBURGH 5 Under Contract 385 $13,913 COL $649,900
78 RIDGE 5 Under Contract 140 $13,783 COL $798,000
353 BOGERT 4 Under Contract 50 $12,626 COL $809,000
489 COLONIAL 6 Under Contract 172 $16,851 COL $839,900
239 CLAREMONT 4 Under Contract 44 $16,053 COL $875,000
286 MAPLE 5 S 17 $8,434 RANCH $520,000
150 HOPE 4 S 304 $9,819 COL $515,000
420 HILLCREST 3 S 144 $10,794 S/L $565,000
161 VALLEY VIEW 3 S 17 $12,657 COL $698,000
226 BEECHWOOD 5 S 142 $20,919 COL $915,000

 * For Ridgewood homes marked Active, Attorney Review and Under Contract “Price” refers to the list price.  For homes marked Sold, “Price” refers to the final sale price.

Related Articles

This Week in Ridgewood Real Estate: July 25th – 31st

New Jersey Home Sales Rise for Sixth Month In a Row

Ridgewood Real Estate Update (July 18 – July 24) – The Trade-Up Buyer is Back

The properties in this blog post were listed and sold by various participants of the NJMLS based on information from the New Jersey Multiple Listing Service, Inc. for the period of August 1st through August 7th 2009. 

—————————–

About Al Donohue

Al Donohue heads up Marron Gildea & Donohue’s Ridgewood office and is one of the top agents in Bergen County.

ibs-photo.jpg

Al attributes much of his success to lessons learned during his years as a top sales executive on Wall Street. Most of Al’s clients are busy professionals and business owners and they love the fact that he speaks their language and understands the incredible demands on their time. Al stays in constant touch with his clients not only through phone calls and face-to-face meetings but also through email, instant messaging, and web pages created specifically for his clients. Clients can view the status of the sale of their home, read feedback from agents that have shown their home and review the status of their personal marketing plan 24-hours-a-day via their personal web page.

Al understands that technology is just a tool and says it is really his focus on providing world class customer service that has enabled him to achieve great results for his clients. He says the key to his success has been his ability to listen more than he speaks and always put the needs of his clients first.

 

Posted by Al Donohue | Discussion:No Comments »

Video – If Geithner Can’t Sell His Own Home, Do You Really Think He Can Save the Economy?

August 8th, 2009 categories:Random Stuff

Treasury Secretary Timothy Geithner Bought his Home at the Peak of the Market in 2004 and Doesn’t Understand Why He Can’t Sell It for More Today…Uh Oh.

According to this very funny video, from The Daily Show, Tim Geithner purchased his home at the 2004 market peak for $1.6 Million and has now listed it for $1.635 million. Even folks without his financial background know that the real estate market has come down considerably in that time. Anyway, check out the video. Pretty funny.

<td style='padding:2px 1px 0px 5px;' colspan='2'Home Crisis Investigation
The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
www.thedailyshow.com
Daily Show
Full Episodes
Political Humor Spinal Tap Performance

 

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Ridgewood Real Estate

Posted by Al Donohue | Discussion:2 Comments »

Preserve Graydon Coalition Makes Presence Known at Ridgewood Meeting

August 8th, 2009 categories:Ridgewood News and Events

Graydon Pool Preservationists Show Up En Masse at Ridgewood Village Council Session

Graydon Pool Ridgewood NJ

Graydon Pool Ridgewood NJ

The supporters of the Preserve Graydon Coalition (PGC) showed up in force this week at a Village Meeting sporting “Preserve Graydon” stickers.   By most accounts, the meeting featured lively discussion with supporters of both factions (PGC and Ridgewood Pool Project) making strong points.

Below are a couple excerpts from Michael Sedon’s coverage in the Ridgewood News.

“The people here tonight are only a small sample of the hundreds and hundreds of supporters we have gathered in just two weeks,” said Susanne Kelly, co-chair of the PGC. “This includes seniors and young families.”

“The fact of the matter is there’s a financial imperative, there’s a health imperative,” Aronsohn said. “Ladies and gentlemen, we need to move forward, [and] we need to move forward with civility. All voices, all people have a seat at the table.”

Click here to read the full article.

Related Graydon Pool Articles

Ridgewood’s Graydon Pool Project: Blessing or Boondoggle?

The Preserve Graydon Coalition holds their first meeting

 

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Posted by Al Donohue | Discussion:No Comments »

Ridgewood’s Graydon Pool Project: Blessing or Boondoggle?

August 5th, 2009 categories:Ridgewood News and Events

Is the Old Graydon Pool Safe?  Will the New Pool Project Lead Ridgewood Down a Path to Financial Ruin?

Fox News Says "We Report - You Decide".  My tag-line on this subject would be more like...
"I Vacillate - You Decide".

I Love Graydon Pool the Way it Is!
Graydon Pool

Whether the Pool Project is a Blessing or Boondoggle depends largely on who you ask.  We have a town divided.  I am a Ridgewood Resident with two young children and our family goes to Graydon.  I always liked the idea of the sand bottom and the natural look and feel of Graydon.  It made our pool different and more fun.  And, of course, I don’t love the idea of our town making a huge investment during these uncertain financial times.  If you love Graydon the way it is be sure to visit the Preserve Graydon Coalition Site.

The New Ridgewood Pool Project is a Great Idea!

Ridgewood Pool Project

Clearly I am confused and probably confusing you in the process.  If I love Graydon the way it is,  how can the Ridgewood Pool Project be a great idea?  Well…after reading the Ridgewood Pool Project Report and talking to one of the co-chairs I think I was swayed to the dark side, or the right side, depending on your vantage point.  Click here to view the full PDF version of the Ridgewood Pool Project July 2009 Report.  It seems like the facts below are irrefutable or at least I am told they are.  So much for doing my own research.  Anyway, being a paranoid concerned  parent and a bit of a germaphobe this sentence from the report was the clincher.  “Graydon is allowed to have roughly 200 times the bacteria count of a traditional pool”. At least until I run into an anti-Pool Project person who convinces that me that the additional tax burden will be much more scary than the germs.

Below is a bit more detailed info from the supporters of the Ridgewood Pool Project

FACTS ABOUT GRAYDON POOL AND THE RIDGEWOOD POOL PROJECT

1.       Membership at Graydon has fallen 70 percent in ten years.  Where towns like Glen Rock have 40 percent of its residents join the pool, Ridgewood now has only 7 percent.  Hundreds of Ridgewood families now belong to other traditional pool facilities, with Indian Trail Club, Saddle River Valley Swim Club, Paramus Pool and Stony Brook in Hillsdale being the most popular.

2.       The Ridgewood Pool Project (RPP) is not a special interest group– it was formed through Village Parks & Recreation and is officially advised by several senior Village staff members.  It initially started with a neutral, research-based approach, and its mission assigned by Village Council in 2006 was to find out why residents are leaving Graydon and what will bring them back.  The RPP began advocating for a pool renovation once the research was complete and showed overwhelmingly that this was the only approach that would restore Graydon to a community gathering place for current and future generations.

3.       Following an EPA ruling, the Village is no longer allowed to use any chemicals to disinfect the water at Graydon.  Although the pond passes all of its water tests and is deemed perfectly healthy by the State, the standards for bacteria levels in the water are much lower than those for swimming pools.  In essence, Graydon is allowed to have roughly 200 times the bacteria count of a traditional pool. 

4.       Research indicates that many residents – particularly young families, who make up nearly half of the Village population and are essential to restoring membership levels – indicate they will only return to Graydon if it becomes a traditional, cement-bottom pool (although they do want to keep a unique, natural looking feel).  The reasons are: they want the swimming water to be disinfected, and they want to be able to see children under the water.  Meetings with DEP officials in 2008 confirmed that as long as Graydon is a pond, it cannot be disinfected.

5.       Following a concept from a pool designer that was too commercial looking, the RPP had resident and architect Nicole Walla provide a rendering that marries modern pool design with the natural beauty and nostalgia of Graydon (http://ridgewoodpoolproject.googlepages.com/newdesignconcept).  The design provides for a separate, sizeable pond at the corner of Linwood and Maple, which is intended to be ornamental but could be swimmable if there is resident interest.

6.       There are absolutely no official cost estimates for the new design concept.  Though the original design was quoted at $13.9 million and a revised number of $10 million has been circulating, the RPP has absolutely no confirmation of this number and will not have that information available until the Village RFP process is completed later this year.  Regardless, the RPP is confident, based on its research, that a new facility can be self-funding and self-sustaining through membership fees.

The Ridgewood Pool Project is not without its Detractors

Just ask the folks at the The Preserve Graydon Coalition

“Founded in July 2009, the Coalition is dedicated to retaining the unique character of Ridgewood’s historic Graydon Park, including its large, open swimming area, center rafts, and extensive sandy beaches. We provide accurate information about Graydon’s safe, clean water. We enlist the support of residents who love Graydon and would deplore its loss to a concrete-based facility with a much smaller pool.”

The folks at the Preserve Graydon Coaltion say The Water is Clearer – If You Take the Time To Look

So…Can I borrow your opinion on this debate while still finalizing my own? What do you think?  Blessing?  Boondoggle?  Mix of both?

If you would like more info on this ongoing debate see the links below:

Preserve Graydon Coalition Makes Presence Known at Ridgewood Meeting

The Preserve Graydon Coalition holds their first meeting

CEO for Graydon ?

Graydon: Is that a problem we should spend $10 million on to solve?

———————-

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Posted by Al Donohue | Discussion:7 Comments »

New Jersey Home Sales Rise for Sixth Month In a Row

August 3rd, 2009 categories:Real Estate News and Advice

National Housing Numbers are Looking Good…NJ is Looking Better

Money and Piggy Bank

This latest news is on top of positive news on building permits, housing starts and national home prices.

Now is a great time to consider entering the market:

  • Interest rates are still near all-time lows.
  • Affordability is high.
  • Prices are starting to climb.

Consider what Jeffrey Otteau, New Jersey’s real estate valuation guru, had to say this week about the local NJ real estate market.

“With evidence mounting that the national housing market is beginning to show signs of life, New Jersey is experiencing a stronger recovery pace than the rest of the nation.  To illustrate this, consider that national existing home sales rose in June for the 3rd consecutive month marking the first time this has occurred since 2004.  In New Jersey however, home sales have now risen for 6 straight months which last occurred back in 2003 in the midst of a home buying frenzy fueled by the sub-prime lending boom.”

Related Articles

Ridgewood Real Estate Update (July 18 – July 24) – The Trade-Up Buyer is Back

Mortgage Applications, Building Permits and Housing Starts All Rise

Ridgewood NJ Continues to Draw Down Its Real Estate Inventory – July 11-17

——————————–

About Al Donohue

Al Donohue heads up Marron Gildea & Donohue’s Ridgewood office and is one of the top agents in Bergen County.

ibs-photo.jpg

Al attributes much of his success to lessons learned during his years as a top sales executive on Wall Street. Most of Al’s clients are busy professionals and business owners and they love the fact that he speaks their language and understands the incredible demands on their time. Al stays in constant touch with his clients not only through phone calls and face-to-face meetings but also through email, instant messaging, and web pages created specifically for his clients. Clients can view the status of the sale of their home, read feedback from agents that have shown their home and review the status of their personal marketing plan 24-hours-a-day via their personal web page.

Al understands that technology is just a tool and says it is really his focus on providing world class customer service that has enabled him to achieve great results for his clients. He says the key to his success has been his ability to listen more than he speaks and always put the needs of his clients first.

Posted by Al Donohue | Discussion:2 Comments »

Updated Glen Rock Home in Pristine Condition

August 2nd, 2009 categories:Glen Rock Real Estate

Featured Glen Rock Home – 26 Gaynor Place

Gaynor Front

Virtual Tour

Home Description

Once you enter, you won’t want to leave this pristine, picture-perfect 3 bedroom, 2.5 bath property. The home sits on a large, beautifully landscaped lot on a street filled with well-kept homes and fine trimmed lawns. The residence features a large, sunny living room, elegant dining room, updated kitchen, cozy den with sliders that open to the back patio, oversized family room and a lovely master suite with updated master bath. The home has been tastefully redone from top to bottom over the past few years including new kitchen, new roof and siding, new finished basement, new full bath (converted from half bath), newly finished den with new sliding doors, new furnace, new doors, new windows, new paver walkway, new air conditioning, new electric (200 amp) and new landscaping. The property also includes a wonderful open floor plan, elegant neutral decor, lots of natural sunlight, gleaming hardwood floors, security system, sprinkler system and an attached garage.

About Al Donohue

Al Donohue heads up Marron Gildea & Donohue’s Ridgewood office and is one of the top agents in Bergen County.

ibs-photo.jpg

Al attributes much of his success to lessons learned during his years as a top sales executive on Wall Street. Most of Al’s clients are busy professionals and business owners and they love the fact that he speaks their language and understands the incredible demands on their time. Al stays in constant touch with his clients not only through phone calls and face-to-face meetings but also through email, instant messaging, and web pages created specifically for his clients. Clients can view the status of the sale of their home, read feedback from agents that have shown their home and review the status of their personal marketing plan 24-hours-a-day via their personal web page.

Al understands that technology is just a tool and says it is really his focus on providing world class customer service that has enabled him to achieve great results for his clients. He says the key to his success has been his ability to listen more than he speaks and always put the needs of his clients first.

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Posted by Al Donohue | Discussion:No Comments »

This Week in Ridgewood Real Estate: July 25th – 31st

August 2nd, 2009 categories:Ridgewood Real Estate

This Week’s Ridgewood Home Sales Triple Last Week’s Numbers…

Ridgewood Train Station

…and are more than double from the week before that.  This week 15 Ridgewood Homes closed versus 5 last week and 7 the week before that.  These numbers bounce around from week to week but we are definitley seeing an upward trend.

Ridgewood Real Estate Transactions for the Week

Summary – Click Here for Full Details on All Homes Below
5 new listings.
5 homes marked as being in “attorney review”.
6 homes went under contract.
15 homes were sold. 

* For Ridgewood homes marked New, Attorney Review and Under Contract “Price” refers to the list price.  For homes marked Sold, “Price” refers to the final sale price.
 
 
 

 

 

 

 

Street # Street Name BR Status Days on Market 2008 Taxes Style Price
481 GROVE 4 New  6 $9,160 C/C $428,800
416 COLWELL 4 New  5 $11,123 RANCH $559,000
576 NORTHERN 4 New  8 $10,014 S/L $599,000
554 MORNINGSIDE 3 New  7 $11,500 RANCH $749,900
237 DEMAREST 5 New  4 $18,639 COL $1,139,000
469 GEORGE 3 Attorney Review 98 $10,289 S/L $549,000
111 CLAREMONT 4 Attorney Review 69 $15,658 COL $699,000
353 BOGERT 4 Attorney Review 46 $12,626 COL $809,000
1081 HILLCREST 4 Attorney Review 69 $11,610 COL $875,000
136 MONROE 4 Attorney Review 11 $14,707 COL $1,097,000
80 PERSHING 3 Under Contract 19 $8,674 C/C $425,000
620 GLEN 4 Under Contract 159 $9,070 C/C $450,000
273 GLEN 4 Under Contract 44 $10,708 COL $545,000
252 GLEN 5 Under Contract 160 $13,028 COL $739,000
14 MAYNARD 5 Under Contract 84 $21,636 COL $1,295,000
350 HIGHLAND 6 Under Contract 21 $27,451 COL $1,829,000
169 MCKINLEY 3 Sold 86 $10,470 S/L $450,000
260 HIGHWOOD 3 Sold 60 $9,416 COL $575,000
314 VESTA 3 Sold 25 $8,984 C/C $569,000
557 LYNN 3 Sold 24 $10,004 S/L $590,000
338 IRVING 3 Sold 9 $11,980 COL $605,000
796 NEWCOMB 3 Sold 50 $12,480 COL $635,000
117 JOHN 4 Sold 75 $11,016 COL $625,000
310 EASTBROOK 4 Sold 59 $13,908 COL $670,000
104 IRVING 4 Sold 13 $13,694 COL $796,000
372 IRVING 4 Sold 25 $13,029 COL $820,000
376 GLENWOOD 4 Sold 23 $14,552 C/C $785,000
220 BEECHWOOD 5 Sold 36 $17,901 COL $935,000
727 HILLCREST 5 Sold 115 $17,231 COL $1,100,000
89 WOODLAND 4 Sold 23 $24,918 COL $1,250,000
185 SPENCER 4 Sold 20 $19,665 COL $1,299,900

Related Articles

Ridgewood Real Estate Update (July 18 – July 24) – The Trade-Up Buyer is Back

Mortgage Applications, Building Permits and Housing Starts All Rise

Ridgewood NJ Continues to Draw Down Its Real Estate Inventory – July 11-17

 

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The properties in this blog post were listed and sold by various participants of the NJMLS based on information from the New Jersey Multiple Listing Service, Inc. for the period of July 25th through July 31st 2009. 

Posted by Al Donohue | Discussion:No Comments »