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Archive for March, 2010

Is Your Home Strictly an Investment or Is It a Place to Raise a Family and Create Lifelong Memories?

March 16th, 2010 categories:Random Stuff

Are You A Spectator in Life – Or a Participant?

Be a Participant Not a Spectator

Obviously, there is a risk associated with all investments but a home is much more than an investment.  If you are buying a home strictly to make money than you need to look at things differently.  However, if part of the reason you are considering a new home is for a better school district for your children, or to be closer to loved ones or for a better overall quality of life then you have to think about the cost of not making the investment.

It is true that you can lose money in real estate – as in almost all investments.  However, it is also true that folks who sit on the sidelines and wait for the perfect day to invest, or the perfect day to take that trip or the perfect day to ask that special someone on a date sometimes find that the perfect day never comes and they spend their lives being spectators – not participants.

I feel pretty strongly that in Ridgewood you can have both – a solid, long-term investment and a place to create some great memories.  Click here to see how Ridgewood Real Estate has fared in the past one, five and ten-year periods.

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About Al Donohue

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

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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.

Click below and let’s connect on Facebook, Twitter, LinkedIn, FriendFeed…

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Posted by Al Donohue | Discussion:2 Comments »

Ridgewood Real Estate Looks Solid – Regardless of what the “Doom and Gloom” Set Have to Say

March 16th, 2010 categories:Ridgewood Real Estate

The Median Price of Ridgewood Homes Have Increased in the Last One, Five and Ten Year Periods*

Ridgewood Homes – 10 Year Chart

Ridgewood Median Sales Price 10 Year Chart

People love to talk about bad news and no other industry has seen more “doom and gloom” reports over the past few years than the Real Estate Industry.  How many of you heard this a few years back?

“Prices are going up too fast in Ridgewood - this is a bad time to buy”

Today you hear:

“Prices are going down, it is a bad time to buy”

Ridgewood Homes – 5 Year Chart

Ridgewood Median Sales Price 5Year Chart

Ridgewood Homes – 1 Year Chart

Ridgewood Median Sales Price 1 Year Chart

* Sales figures taken directly from Zillow.com on 3/16/2010.

Related Ridgewood Articles

Ridgewood’s High(er) End Real Estate is Starting to Move

Ridgewood Real Estate Market Looks Strong

search-for-home-call-to-action-button.gif featured-listings-call-to-action-button.gif whats-my-home-worth-call-to-action-button.gif

Posted by Al Donohue | Discussion:No Comments »

Ridgewood’s High(er) End Real Estate is Starting to Move

March 9th, 2010 categories:Ridgewood Real Estate

The More Expensive Ridgewood Homes Are Beginning to Look More Attractive to Home Buyers

Much has been said about the impact of the Home Buyer’s Tax Credit  on lower priced homes.  However, I believe we are also starting to see its impact on the higher end.  We are seeing lots homeowners from Ridgewood, and other nearby towns, trading up from homes in the $300,000 – $500,000 range to more expensive Ridgewood homes.  Buyers are snapping up the moderately priced homes because they want to lock in the tax credit and many of these homeowners are deciding to roll the proceeds from their sale into a larger/more expensive Ridgewood Home.

Ridgewood Home Sales by Price Range: 1/1/2010 - 3/9/2010

Ridgewood Home Sales by Price Range: 1/1/2010 - 3/9/2010

The chart above shows the price breakdown of Ridgewood Home Sales from 1/1/2010 through 3/9/2010 (today).  The chart below depicts the same time period in 2009.  A few items to note:

  1. At this point in 2009 no homes over $1,750,000 had sold in Ridgewood.  This year two have sold.
  2. Five homes over $1 million have sold thus far this year – at this point in 2009 only two had sold.
  3. Seventeen homes over $600,000 have sold this year.  In 2009 only ten had sold by the same time.
Ridgewood Home Sales by Price Range: 1/1/2009 - 3/9/2009

Ridgewood Home Sales by Price Range: 1/1/2009 - 3/9/2009

Multiple Offers and Re-Listed Homes

I also have a bit more personal anecdotal evidence that the market is improving.  In 2009 I had listed two beautiful Glen Rock homes that eventually wound up being taken off the market because of lack of interest.  I re-listed these same two homes in 2010.  Both homes enjoyed many more showings, and significantly more interest this year, and both have now had offers accepted.  Additionally, I recently listed a wonderful Ridgewood home that was fairly priced – but certainly not under priced.  It received 7 offers within the course of a few days and is now under contract for a number significantly higher than what the homeowners were asking. 

I am bracing for a backlash from two of my most active and intelligent, but sometimes equally harsh, commenters (LaLaLand and Barney).  They both feel I see the real estate market through rose colored, or perhaps dollar-bill-tinted, glasses.  Oddly enough, I disagree.

Related Ridgewood Articles

Ridgewood Home Sales Rise 40% in January

Ridgewood Real Estate Market Looks Strong

Ridgewood Real Estate Report – Average Sale Price Up 5.4% in October

Click below and let’s connect on Facebook, Twitter, LinkedIn, FriendFeed…

Connect with me on FaceBook Follow me on Twitter Connect with me on LinkedIn Connect with me on FriendFeed

Why Choose Aloysius Donohue?

It’s hard to answer this question myself without sounding like a complete blowhard so please click below to see what clients and local newspapers had to say.

Clients Are Saying…

Local Newspapers are Saying…

Click here to see some of my current listings…

Posted by Al Donohue | Discussion:8 Comments »